DE
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23-3012204
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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Under the Employment Agreement, Mr. Redling was entitled to receive a minimum cash bonus of $660,000 (the "Minimum Bonus") for the Company's fiscal year ending December 31, 2009. Under the Amendment, Mr. Redling has agreed that the Minimum Bonus for the fiscal year ending December 31, 2009 is eliminated, and in lieu thereof Mr. Redling received, on the date of the Amendment, a restricted stock grant of 66,712 shares in accordance with the terms and conditions set forth in the stock award agreement and the Company's 2008 Long Term Incentive Plan. This restricted stock grant shall vest in three tranches of 50%, 25% and 25%, respectively, on the first, second and third anniversaries of the date of grant; provided that Mr. Redling is employed by the Company on each such vesting date. In furtherance of the foregoing, Section 4 of the Employment Agreement was amended in part to delete the Company's requirement to pay Mr. Redling the Minimum Bonus for the fiscal year ending December 31, 2009.
Exhibit No. Description
10.1 Third Amendment, dated June 30, 2009 to the Employment Agreement, dated August 6, 2007, as amended, between NutriSystem, Inc. and Joseph M. Redling.
NUTRI SYSTEM INC DE
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Date: July 02, 2009
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By:
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/s/ David D. Clark
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David D. Clark
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Chief Financial Officer
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Exhibit No.
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Description
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EX-10.1
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Third Amendment, dated June 30, 2009 to the Employment Agreement, dated August 6, 2007, as amended, between NutriSystem, Inc. and Joseph M. Redling.
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