Employment Agreement - Columbia/HCA Healthcare Corp. and Robert Waterman
October 31, 1997
Robert Waterman
9421 Green Hill Boulevard
Brentwood, Fl 37027
Dear Robert:
We are pleased about the prospect of your joining Columbia/HCA. This letter
serves as formal confirmation of our verbal offer to you for the position of
Senior Vice President and General Counsel, reporting to the CEO. After
employment, your initial pay and benefits will be as follows:
- A monthly salary of $52,083.33, which is equivalent to an annual salary of
$625,000.
- Options on 350,000 shares of Columbia/HCA stock. The strike price for these
shares will be set on your first day of employment. Beginning in 1999, you will
be eligible to participate in the annual stock option program. Participation is
subject to plan terms and approval by the Board of Directors.
- If Columbia/HCA should terminate your employment without cause the following
severance schedule would apply.
- 1998-1999 three years severance
- 2000-2002 two years severance
- 2003 and beyond one years severance
- Questions regarding your relocation assistance should be directed to Ms. Kara
Cravens, Corporate Relocation Administrator at (615) 344-2425. Columbia/HCA
agrees to provide to one year of temporary living expense and a home purchase
program in addition to our normal relocation policy.
- You are also entitled to participate in the LifeTimes Benefit Choices
Program which allows you to choose from a number of benefits such as medical,
dental, life, and long-term disability insurance subject to the terms of the
plans. You are eligible for medical, dental and life insurance benefits on the
first day of the month after you complete two calendar months of service. If
you start on or before November 1, 1997, your benefits will begin on January 1,
1998. You will receive a complete packet of benefit instructions within 30 days
of your joining the company.
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October 31, 1997
Robert Waterman
Page 2
This offer is contingent on the successful completion of a background
investigation and reference checks. We are in the process of completing those
and hope that there are no delays which might affect your employment date.
In order for Columbia to comply with the Immigration Reform and Control Act of
1986 we require that you bring certain documents with you on your first day of
employment. These documents are identified on the enclosed I-9 form which
should be filled out and brought with you on your first day, along with the
documents requested. We also ask that you complete the enclosed W-4 form which
will ensure that the correct payroll taxes are deducted each pay cycle. If you
have questions about either of these forms, please contact Shana Brandwein at
615-344-2924.
Bob, we look forward to having you as a member of Columbia's team. We know that
your past experience and expertise will have provided the tools for you to make
significant contributions to the success of Columbia and that you will be
rewarded commensurate with your contributions.
Please indicate your acceptance of our offer by signing in the space provided
below and returning the signed original to Human Resources for inclusion in
your regular personnel file. An extra copy of this letter is enclosed for your
records.
Sincerely,
/s/ Thomas F. Frist, Jr., M.D.
Thomas F. Frist, Jr., M.D.
Chairman and CEO
cc: Compensation
Relocation
John Steele
Enclosures: Columbia Corporate Compliance Program - Standards and Procedures
I-9, W-4
I UNDERSTAND AND ACCEPT THE FOREGOING
/s/ Robert Waterman
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