Summary of IPC THE HOSPITALIST COMPANY, INC.

Item 5.02-Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 14, 2008, the Board of Directors elected Dr. Francesco Federico to the Board of Directors and named him to serve on the quality committee of the Board of Directors. Dr. Federico was elected as a Class III Director and will stand for election at IPC's 2010 annual meeting of stockholders. There are no arrangements or understandings between Dr. Federico and any other person pursuant to which he was elected as a director. In addition, there have been no transactions, since the beginning of IPC's current fiscal year regarding Dr. Federico that are required to be disclosed under Item 404(a) of Regulation S-K. In connection with his election to the Board of Directors, Dr. Federico received an initial option to purchase 15,625 shares of our common stock in accordance with the 2007 Equity Participation Plan. Such options vests in 24 equal monthly installments and have an exercise price of $24.92, which is equal to the fair market value of our common stock on the date of grant.

On August 14, 2008, the Board of Directors elected Patrick G. Hays to the Board of Directors and named him to serve on the audit committee and governance and nominating committee of the Board of Directors. Mr. Hays was elected as a Class III Director and will stand for election at IPC's 2010 annual meeting of stockholders. There are no arrangements or understandings between Mr. Hays and any other person pursuant to which he was elected as a director. In addition, there have been no transactions, since the beginning of IPC's current fiscal year regarding Mr. Hays that are required to be disclosed under Item 404(a) of Regulation S-K. In connection with his election to the Board of Directors, Mr. Hays received an initial option to purchase 15,625 shares of our common stock in accordance with the 2007 Equity Participation Plan. Such options vests in 24 equal monthly installments and have an exercise price of $24.92, which is equal to the fair market value of our common stock on the date of grant.