This Employment Agreement (this Agreement) is entered into effective the
7th day of March, 2000, by and between HORIZON Pharmacies, Inc., a Delaware
Corporation, with its principal place of business in Denison, Texas ,
and Phillip Douglas Stone .
W I T N E S S E T H:
WHEREAS, Employer desires to employ Employee as a C.O.O. at Employer's
location in Denison, Texas and Employee desires to accept such employment.
NOW THEREFORE, for and in consideration of the above, the employment of
and the payment of salary, wages or other compensation to Employee by Employer,
and the mutual covenants, promises, undertakings and agreements set forth below,
Employee and Employer covenant and agree as follows:
1. DUTIES. Beginning on the effective date of this Agreement,
Employee shall (i) perform in the above-described capacity; (ii) devote such
time, energy, ability, skills, services and attention to the timely, diligent
and professional performance of his duties as required by Employer and as may be
required to perform his assigned duties and fulfill the performance requirements
of Employer from time to time; (iii) perform such additional or different
duties, and accept the election or appointment to such other offices or
positions as required by Employer; and (iv) comply with all of Employers'
policies, procedures and rules. The specific duties assigned to Employee may be
extended or curtailed from time to time at Employers' discretion.
2. COMPENSATION. As compensation for his services hereunder,
Employee shall receive an annual salary in the amount of $165,000.00 per year,
payable on a bi-weekly basis; and $55,000.00 potential bonus which is 33 1/3% of
base salary separated into 4 categories of $13,750.00 each with the goals and