MEDCATH CORP
EXHIBIT 10.75
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<TYPE>EX-10.75
<SEQUENCE>4
<FILENAME>g07246exv10w75.htm
<DESCRIPTION>EXHIBIT 10.75
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<TITLE>Exhibit 10.75</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.75</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECOND AMENDMENT TO<BR>
AMENDED AND RESTATED EMPLOYMENT AGREEMENT</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SECOND AMENDMENT to the Amended and Restated Employment Agreement by and between MedCath
Corporation (the &#147;Company&#148;) and Joan McCanless (&#147;Executive&#148;) (the &#147;First Amendment&#148;) is effective
as of the 12th day of February, 2007.
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RECITALS:</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Company and Executive entered into an Amended and Restated Employment Agreement dated
September&nbsp;30, 2005, as amended by First Amendment to Employment Agreement dated September&nbsp;1, 2006
and Amendment Agreement dated December&nbsp;5, 2006 (the &#147;Agreement&#148;);
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Executive has been employed by Company prior to the date hereof;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Company and Executive desire to continue Executive&#146;s employment in accordance with
the terms of Executive&#146;s Amended and Restated Employment Agreement and in accordance with the terms
of this Second Amendment;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Company has offered Employee an opportunity to cash-out his/her accrued but unused
paid days off (as of December&nbsp;31, 2006) on certain terms in exception of Company policy; and
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the parties now wish to amend the Agreement on the terms set forth below:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged
and confessed, Company and Executive agree to amend the Agreement on the following terms:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Section&nbsp;6.1(a)(ii) of the Agreement (Termination By Company Without Cause or By Executive
for Good Reason) shall be deleted in its entirety and replaced with the following:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a cash lump sum payment in respect of (x)&nbsp;compensation earned but not yet
paid (including any awarded but deferred Bonus payments) (the &#147;Compensation
Payment&#148;) and (y)&nbsp;reasonable expenses incurred under Section&nbsp;5 but not yet
reimbursed (the &#147;Expense Payment&#148;); and
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The last sentence in Section&nbsp;6.1(b) of the Agreement (Termination By Company Without Cause
or By Executive for Good Reason) shall be deleted in its entirety and replaced with the following:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The Compensation Payment and the Expense Payment shall be paid by the Company to
Executive in a cash lump sum payment within 30&nbsp;days after the date of termination.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;Section&nbsp;6.2(iii) of the Agreement (Permanent Disability) shall be deleted in its entirety
and replaced with the following:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Compensation Payment and the Expense Payment; and
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;Section&nbsp;6.3(iii) of the Agreement (Death) shall be deleted in its entirety and replaced
with the following:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Compensation Payment and the Expense Payment; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;The second sentence in Section&nbsp;6.4(a) of the Agreement (Termination By Company for Cause or
By Executive without Good Reason) shall be deleted in its entirety and replaced with the following:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In the event that Executive&#146;s employment is terminated by the Company for Cause or
by Executive without Good Reason, notwithstanding any other provision in the
Agreement, Executive shall be entitled only to the Compensation Payment and the
Expense Payment, and shall not be entitled to any further compensation or
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">benefits hereunder including, without limitation, the payment of any bonus in
respect of all or any portion of the fiscal year in which such termination occurs.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;Capitalized terms not defined in this Second Amendment shall have the meaning assigned to
them in the Agreement.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;Except as specifically set forth in this Second Amendment, the terms and conditions of the
Agreement shall remain in full force and effect.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;In the event of any conflict between the terms of this Second Amendment and terms of the
Agreement, the terms of this Second Amendment shall control.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties have executed this Second Amendment on the day first written
above.
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<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MEDCATH CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ O. Edwin French
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left" colspan="3">Name: O. EDWIN FRENCH&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD align="left">&nbsp;</TD>
    <TD align="left" nowrap colspan="3">Title: &nbsp;&nbsp;PRESIDENT AND CHIEF EXECUTIVE OFFICER&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD colspan="5">&nbsp;</TD>
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    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">JOAN McCANLESS<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Joan McCanless
&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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