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					Exhibit 10.2

 
SOUTHWEST AIRLINES CO.

NOTICE OF GRANT OF RESTRICTED CASH PERFORMANCE AWARD

Pursuant to the terms of the Southwest Airlines Co. Senior Executive Short Term Incentive Plan (the “Plan”), Southwest Airlines Co. (the “Company”) hereby grants to you (the “Participant”) a restricted cash performance award (“Restricted Cash Award” or “Award”) in accordance with, and subject to, the following: 
        
															
			Participant:		
			Date of Grant:		
			Performance Period:		
			Vesting Date:		
			Potential Value:		

Participant understands and agrees that the Restricted Cash Award is granted in accordance with, and subject to, the terms and conditions of the Plan and the Terms and Conditions accompanying this Notice of Grant. 

By asserting any rights with respect to this Award, the Participant (and any person who has acquired this Award by will or the laws of descent and distribution or intestacy) will be deemed to have understood and agreed to the terms and conditions of the Plan and the accompanying Terms and Conditions.

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SOUTHWEST AIRLINES CO.
SENIOR EXECUTIVE SHORT TERM INCENTIVE PLAN
TERMS AND CONDITIONS

RESTRICTED CASH PERFORMANCE AWARD

By asserting any rights with respect to a Restricted Cash Performance Award (“Restricted Cash Award” or “Award”) received pursuant to the Southwest Airlines Co. Senior Executive Short Term Incentive Plan (the “Plan”) and granted pursuant to the Notice of Grant of Restricted Cash Performance Award with which these Terms and Conditions are attached (the “Notice of Grant”), the recipient of the Award (the “Participant”) will be deemed to have understood and agreed to the terms and conditions of the Plan and the terms and conditions set forth below. Capitalized terms used and not otherwise defined in these Terms and Conditions or in the Notice of Grant shall have the meanings assigned to them in Appendix A to these Terms and Conditions. 
1.    Vesting. Subject to these Terms and Conditions and the provisions of the Plan, vesting of the Award will be subject to and in accordance with the schedule set forth in the Notice of Grant. 
2.    Interpretation.  The Participant’s Restricted Cash Award is subject to the terms and conditions of the Plan, which terms and conditions are incorporated herein by reference.  The Participant’s Restricted Cash Award is also subject to any rules promulgated pursuant to the Plan by the Company’s Board of Directors (the “Board”), the Compensation Committee of the Board (the “Committee”), or the persons designated by the Committee to administer the day-to-day administration of the Plan.  Any decisions or interpretations upon any questions with respect to a Restricted Cash Award or the Plan, including the determination of the cash amount to be received, shall (as permissible pursuant to applicable laws, rules, or regulations) be determined (i) by the Committee, (ii) by the Board, or (iii) where permitted by the Committee, by any person(s) to whom the Committee has delegated its authority. The Participant (and any person who has acquired the Restricted Cash Award by will or the laws of descent and distribution or intestacy) agrees to accept any such decisions or interpretations as binding, conclusive, and final in all respects.  

3.    Payment of Award.  Subject to these Terms and Conditions and the provisions of the Plan, on the Vesting Date, the Participant (or any person who has acquired the Restricted Cash Award by will or the laws of descent and distribution or intestacy) will become entitled to a lump sum cash payment of the vested amount of the Award (the “Vested Award Amount”).  Payment of the Vested Award Amount will be made as soon as is administratively and reasonably practicable after the Vesting Date, but in any event, no later than 30 days thereafter, subject to the Participant’s satisfaction of any Tax Obligations (as defined in Section 5 below; provided, however, in the event any action required to satisfy the Participant’s Tax Obligations has not been completed by the Participant within 85 days following the Vesting Date, the Vested Award Amount will be forfeited at 4:00 p.m., Eastern Time, on such date. 
4.    Rights Upon Termination of Service. In the event of termination of the Participant’s Service prior to the Vesting Date, the Award shall automatically and without notice be forfeited at 4:00 p.m., Eastern Time, on the date of termination; provided that, notwithstanding anything in the Plan or the Notice of Grant to the contrary, in the event of the termination of the Participant’s Service as a result of death or Disability, such Participant’s Award will fully vest as of the date of termination.

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5.    Taxes.
a.In order to comply with any federal, state, local, or other laws or regulations of the United States or any other applicable jurisdiction, the Company or any Affiliate is authorized to take such action as it shall deem appropriate to provide that all applicable federal, state, local, or other income, employment, or other tax withholding or similar obligations (collectively, “Tax Obligations”) to which the Participant is subject in connection with the Award are withheld or collected from the Participant. If and to the extent permitted by the Committee from time to time, the Company is authorized to satisfy the Tax Obligations by any one or more of the following methods: (i) by requiring the Participant to pay such amount in cash or check; (ii) by withholding an amount that would otherwise be payable with respect to the Award that is equal to the amount of the Tax Obligations; (iii) by deducting the amount of the Tax Obligations out of any other remuneration otherwise payable by the Company to the Participant; or (iv) by such other method as may be available to the Company from time to time. 
b.The Participant is ultimately liable and responsible for all of the Participant’s Tax Obligations, regardless of any action taken by the Company in accordance with Section 5.a. The Company makes no representation or undertaking regarding the treatment of any Tax Obligation in connection with the grant, vesting, or payment of the Award. The Company does not commit, and is under no obligation, to structure the Plan and its administration to reduce or eliminate a Participant’s tax liability.  
c.The Participant agrees to release and indemnify the Company and its Affiliates from any liability or damages arising from or relating to the Participant’s failure to comply with his or her Tax Obligations.
6.    Restriction on Transfer.  The Participant’s Award and any rights with respect to the Participant’s Award may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of by the Participant except by will or the laws of descent and distribution or intestacy, and any attempt to sell, assign, transfer, pledge, hypothecate, or otherwise dispose of the Participant’s Award will be void and unenforceable against the Company or any Affiliate. 

7.    Section 409A Compliance.  The Plan and these Terms and Conditions are intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"), including its exceptions, and shall be construed and administered in accordance with such intent.  Notwithstanding any other provision of the Plan, these Terms and Conditions, or the Notice of Grant, the Company may only make cash payments pursuant to the Award upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments that may be excluded from Section 409A as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. Notwithstanding the foregoing, the Company makes no representations that the Award or any payments made pursuant to the Award comply with Section 409A, and the Company will not be liable for any portion of any taxes, penalties, interest, or other expenses that the Participant may incur because of non-compliance with Section 409A.

Notwithstanding any provision of the Plan, these Terms and Conditions, or the Notice of Grant to the contrary, if the Participant is a “specified employee” within the meaning of Section 409A as of the date of the Participant’s termination of Service, and the Company determines in good faith that immediate payment of the Award would cause a violation of Section 409A, then any amount due upon the Participant’s “separation from service” within the meaning of Section 409A that (i) is subject to the provisions of Section 409A; (ii) is not 

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otherwise excluded under Section 409A; and (iii) would otherwise be paid during the first six-month period following the Participant’s separation from service, shall become payable on the earlier of (1) the first business day after the date that is six months following the date of separation from service or (2) the date of the Participant’s death. 

8.    No Right to Continued Service and other Participant Acknowledgments.  Nothing herein shall be construed to confer upon the Participant any right to continue as an Employee, Director, or Advisor or to interfere with or restrict in any way the right of the Company or any Affiliate to discharge the Participant at any time (subject to any contractual rights of the Participant) for any reason whatsoever, with or without cause and with or without advance notice. Furthermore, nothing herein shall in any way be construed as imposing on the Company or any Affiliate a contractual obligation between the Company or any Affiliate and the Participant, other than with respect to the specific terms of the Participant’s Award. 
9.    Law Governing. The Participant’s Award shall be governed by, and construed in accordance with, the laws of the State of Texas, without regard to conflicts of laws principles thereof.
10.    Legal Construction. In the event that any one or more of these Terms and Conditions shall be held by a Court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or unenforceable term or condition shall not affect any other term or condition, and these Terms and Conditions shall be construed in all respects as if the invalid, illegal, or unenforceable term or condition had never been contained herein.

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Appendix A

Definitions

“Advisor” means any natural person performing advisory or consulting services for the Company or any Subsidiary, with or without compensation, to whom the Company chooses to grant an Award under the Plan; provided that (i) bona fide services must be rendered by such person; and (ii) such services are not rendered in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities. 

“Affiliate” means any corporation, partnership, limited liability company, or partnership, association, trust, or other organization that directly or indirectly controls, is controlled by, or is under common control with, the Company. For purposes of the preceding sentence, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50 percent of the securities having ordinary voting power for the election of directors of the controlled entity or organization; or (ii)  to direct or cause the direction of the management and policies of the controlled entity or organization, whether through the ownership of voting securities or by contract or otherwise. 

“Director” means an individual who is a member of the Southwest Airlines Co. Board of Directors.

“Disability” means the inability of a Participant to continue to perform services for the Company because of the sickness or injury of the Participant, as determined by the Company’s Chief Executive Officer, Chief People Officer, Chief Financial Officer, and/or General Counsel. Such a determination will be made in good faith and in the sole discretion of one or more of these officers, who shall also have sole discretion to determine the effective date of a Participant’s termination of Service as a result of Disability. 

“Employee” means any person (including a Director) in an employment relationship with the Company or any Affiliate. 

“Service” means a Participant’s employment or service with the Company or any Affiliate of the Company, whether in the capacity of an Employee, a Director, or an Advisor. A Participant’s Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders Service to the Company or any Affiliate or because of a change in entity for which services are performed; provided, however, to the extent necessary to comply with the provisions of Section 409A, a termination of Service shall mean a “separation from service” within the meaning of Section 409A. 

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					Exhibit 10.3

February 1, 2022
Gary C. Kelly
2702 Love Field Dr.
Dallas, TX 75235-1611
 
Re:    Terms of Executive Employment 
Dear Gary:
The purpose of this letter is to confirm your agreement (the “Agreement”) with Southwest Airlines Co. (the “Company”), effective as of February 1, 2022 (the “Effective Date”), concerning your continued services as an executive of the Company.  As of the Effective Date, you agree that your Letter Agreement dated effective as of February 1, 2011 (the “Prior Letter Agreement”) is terminated and will be of no force and effect, but that the Deferred Compensation (as defined below) benefits previously accrued under the Prior Letter Agreement will be provided pursuant to Section 5(c) of this Agreement. Nothing in this Agreement is intended to change the time or form of payment set forth in the Prior Letter Agreement for purposes of Section 409A of the Internal Revenue Code (the “Code”), and Section 5(c) of this Agreement merely restates the material and applicable terms of the accrued Deferred Compensation benefits provided under the Prior Letter Agreement. 
1.Term.  The term of this Agreement shall commence on the Effective Date and shall expire on the earliest to occur of (a) December 31, 2026, or (b) such other date upon which you and the Company may agree in writing (the “Expiration Date”); provided that your right to receive payment pursuant to Section 5(c) of this Agreement shall remain in effect until all payments due to you have been made.  The period from the Effective Date to the Expiration Date is referred to in this Agreement as the “Term.”

2.Change in Position.  As of the Effective Date, you will no longer serve as Chief Executive Officer of the Company or as an officer of any subsidiary of the Company for which you serve as an officer.  During the Term, you will serve as an employee of the Company and, for so long as you are elected as such by the Board, you will also serve as Executive Chairman of the Board.  

3.Duties and Authority.  During the Term, you will perform such duties as are specified by the Board from time to time, and you will be vested in all authority reasonably necessary to carry out your duties.  You agree to make yourself generally available to consult, upon request, with the Chief Executive Officer of the Company or the Chief Executive Officer’s designees.  

4.Necessary Support and Environment.  Throughout the Term, and thereafter for so long as you shall desire, you will be provided with an office suite, equipment, and staff support (collectively, “Support”) consistent with the Support you received as Chief Executive Officer of the Company.    

5.Compensation.  

a.Base Salary.  Your annual Base Salary for each year during the Term will be $475,000. The Compensation Committee of the Board may increase your Base Salary at such time and in such amounts as it may determine in its discretion. Your Base Salary will be payable to you in equal semi-monthly installments and will be subject to such payroll and withholding deductions as may be required by law. 

b.Performance Bonus and Long-Term Incentive Compensation.  The Compensation Committee of the Board may grant incentive compensation to you, both short-term and long-term, in its discretion.

c.Deferred Compensation.  Until payment in full of such amounts, the Company will continue to set aside on its books, as previously provided in your Prior Letter Agreement, a special ledger Deferred Compensation Account (the “Account”) for you, and will credit thereto deferred compensation determined as hereinafter 

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provided (“Deferred Compensation”). For the 2022 calendar year, but not thereafter, your Account will be credited with a contribution equal to any contributions (including forfeitures but excluding any elective deferrals actually returned to you) which would otherwise have been made by the Company on your behalf to the Southwest Airlines Co. Profit-sharing Plan and Southwest Airlines Co. 401(k) Plan for the 2022 plan year, but which exceed the amount permitted to be so contributed due to the limitations under Sections 415(c) (the “415(c) Excess Amount”) and 401(a)(17) of the Code. Such 2022 contribution will be made to your Account only to the extent you are otherwise entitled to an allocation of the “Company Contribution” to the Southwest Airlines Co. ProfitSharing Plan for such year in accordance with the terms of the ProfitSharing Plan. All Deferred Compensation credited to your Account (including the Interest hereinafter provided) will be paid to you at the rate of $200,000 per calendar year (subject to such payroll and withholding deductions as may be required by law) (the “Annual Payment”) commencing with the calendar year following the year in which you incur a Separation from Service, with the Company and continuing until the entire amount of Deferred Compensation and Interest credited to the Account has been paid. Although the total amount of Deferred Compensation ultimately payable to you hereunder will be computed in accordance with the provisions set forth above, there will continue to be accrued and credited to the Account annually until the entire balance of the Account has been distributed (whether such distribution takes place during the Term or thereafter), amounts equal to simple interest at the rate of 120% of the Applicable Federal Long-term Rate for January 2023, compounded annually (“Interest”), on the accrued and unpaid balance of the Deferred Compensation credited to the Account as of the preceding December 31. The Annual Payment to be paid in any one calendar year will be paid on the first business day of such calendar year; but the first of such Annual Payment will be deferred to the extent necessary to cause such payment to comply with the six month deferral rule described in Section 409A(a)(2)(B) of the Code if you are a “specified employee” within the meaning of such section at the time of your Separation from Service (as defined below). Notwithstanding the foregoing, in the event of your death, then the unpaid balance of the Deferred Compensation (together with any accrued Interest thereon) will be paid to the executors or administrators of your estate in cash in one lump sum on the first business day of the calendar year next following the calendar year in which your death occurred. The Company, at its election, may fund the payment of Deferred Compensation by setting aside and investing such funds as the Company may from time to time determine. Neither the establishment of the Account, the crediting of Deferred Compensation thereto, nor the setting aside of any funds will be deemed to create a trust. Legal and equitable title to any funds set aside will remain in the Company, and you will have no security or other interest in such funds. Any funds so set aside or invested will remain subject to the claims of the creditors of the Company, present and future. No right, title, interest or benefit under this paragraph will ever be liable for or charged with any of the torts or obligations of you or any person claiming under you, or be subject to seizure by any creditor of you or any person claiming under you. Neither you nor any person claiming under you will have the power to anticipate or dispose of any right, title, interest or benefit under this paragraph in any manner until the same is actually distributed by the Company.  For purposes of this section, “Separation from Service” means a “separation from service” within the meaning of Treasury Regulation §1.409A-1(h),under which there occurs a reasonably anticipated permanent reduction in the level of bona fide services performed by you for the Company and all Affiliates to 20% or less of the average level of bona fide services performed by you for the Company and all Affiliates (whether as an employee or an independent contractor) in the immediately preceding thirty-six (36) months. For purposes of this paragraph, the term “Affiliate” means each entity that would be considered a single employer with the Company under Section 414(b) or Section 414(c) of the Code, except that the phrase “at least 50%” shall be substituted for the phrase “at least 80%” as used therein. 
Payments made pursuant to this Section will be subject to applicable tax withholding. 
d.MEDICAL AND DENTAL EXPENSES; OTHER BENEFITS.  

(1)During the Term, you shall remain eligible to participate in any medical benefit plan or program that the Company makes available to its employees generally. Upon termination of your employment with Southwest, you may continue to participate in any medical benefit plan or program that the Company may then make available to its employees generally. The Company will reimburse you for all of your out-of-pocket expenses (including specifically all premiums and deductibles) that you and your spouse may incur under any such Southwest plan or program.  

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(2)During the Term, you will also remain eligible to continue to participate in all employee pension, profit sharing, stock purchase, group insurance, and other benefit plans or programs in effect for the Company’s officers generally, to the extent of and in accordance with the rules and agreements governing such plans or programs, so long as the same shall be in effect, with full service credit where relevant for your prior employment by the Company. 

(3)Effective as of the Effective Date and your transition to the Executive Chairman role, you will be eligible for paid time off (“PTO”) according to the Company’s PTO policy, based on your years of service and at the part-time rate of accrual.  PTO is accrued monthly based on qualifying hours worked and continues to accrue to a maximum of 1.5 times the annual accrual, at which time no additional PTO is accrued until some PTO is taken.  With the reinstatement of a PTO accrual cap, and consistent with the treatment of employees who are not members of the Company’s Senior Management Committee, the Company will pay out your accrued and unused PTO above your new cap, plus 40 hours below the cap at your CEO rate, on your February 5, 2022 paycheck.

(4)The Company will reimburse you for reasonable expenses incurred by you in the performance of your duties and responsibilities hereunder. 

6.Non-Competition; Trade Secrets; Confidentiality.  You agree to the provisions set forth in Exhibit A. 

7.Governing Law.  This Agreement will be subject to and governed by the laws of the State of Texas, without giving effect to any conflict of law provisions thereof, except to the extent Texas law is preempted by federal law.

By signing below, you agree that this Agreement accurately reflects our mutual agreements. This Agreement may be signed in multiple counterparts, each of which will be deemed an original but all of which taken together will constitute a single instrument.

 
															
					
	Sincerely,
	
	
	
	SOUTHWEST AIRLINES CO.
		
	By:	 	/s/ Linda Rutherford
		 	Name:	 	Linda Rutherford
		 	Title:	 	EVP, People & Communications

			
	ACCEPTED AND AGREED:
	
	/s/ Gary C. Kelly
	Gary C. Kelly
	
	Date: February 1, 2022

 

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Exhibit A

Confidentiality, Non-Solicitation, Non-Compete
(a)Gary Kelly (the “Employee”) acknowledges that the Company has trade, business and financial secrets and other confidential and proprietary information (collectively, the “Confidential Information”). Confidential information includes, but is not limited to, sales materials, technical information, strategic information, business plans, processes and compilations of information, records, specifications and information concerning customers or venders, customer lists, and information regarding methods of doing business. As defined herein, Confidential Information does not include information that is generally known to other persons or entities who can obtain economic value from its disclosure or use.
(b)Employee is aware of those policies implemented by the Company to keep its Confidential Information secret, including those policies limiting the disclosure of information on a need-to-know basis, requiring the labeling of documents as “confidential,” and requiring the keeping of information in secure areas. Employee acknowledges that the Confidential Information has been developed or acquired by the Company through the expenditure of substantial time, effort and money and provides the Company with an advantage over competitors who do not know or use such Confidential Information.
(c)During and after the Term, Employee must hold in confidence and not directly or indirectly disclose or use (for Employee’s benefit or for the benefit of any person or entity other than the Company) or copy or make lists of any Confidential Information unless authorized in writing by the Chief Legal Officer or compelled by legal process, other than to a Company employee or a person to whom disclosure is reasonably necessary or appropriate for the Employee to perform his duties under this Agreement. Employee agrees to use reasonable efforts to give the Company notice of any attempts to compel disclosure of any Confidential Information, by providing the Company with written notice at least five days before disclosure or within one business day after Employee is informed that such disclosure is being or will be compelled, whichever is earlier. Such written notice must describe the information to be disclosed, the court, government agency, or other forum through which the disclosure is sought, and the date when information is to be disclosed, and must contain a copy of the subpoena, order or other process used to compel disclosure.
(d)All records, files, documents and materials, or copies thereof, relating to the Company’s and its affiliates’ business which Employee prepares, or uses, or which the Company provides to Employee as a result of the Agreement or which the Employee has prepared, or used, or been provided with as a result of Employee’s employment with the Company, in each case, at any time during Employee’s employment during or prior to the Term, will be and remain the sole property of the Company or its affiliates, as the case may be, and Employee must promptly return them to their owner at the end of the Term. 
(e)During and after the Term, Employee will cooperate with, and assist, the Company in defense of any claim, litigation, investigation, or administrative proceeding brought against the Company, as reasonably requested by the Company. Such cooperation and assistance includes, but is not limited to (i) interviews of Employee by the Company’s legal counsel as such counsel reasonably requests, (ii) Employee providing documents (or copies thereof) and signing affidavits as such counsel reasonably requests, (iii) Employee appearing for depositions, trials, and other proceedings as such counsel reasonably requests, and (iv) Employee communicating with any party adverse to the Company, or with a representative, agent or legal counsel for any such party, concerning any pending or future claims or litigation or administrative proceeding solely through legal counsel for the Company. The Company will pay all reasonable out-of-pocket expenses Employee incurs in providing such cooperation and assistance, as long as the Company preapproves such expenses. Nothing in this paragraph is intended to cause Employee to testify other than truthfully in any proceeding or affidavit.
(f)During the Term, the Company will provide Employee with Confidential Information of the Company as described in Section (a). Accordingly, in consideration for the Company’s commitment to provide Confidential Information to the Employee and the Consideration and to protect the value of the Confidential Information to the Company, Employee agrees that during the Term of Non-Competition (as defined below) or the Term of Non-Solicitation (as defined below), Employee will not directly or indirectly disclose or use or 

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disclose for any reason any Confidential Information obtained by reason of Employee’s employment relationship with the Company, except as required to conduct the business of the Company. The “Term of Non-Competition” begins on the Effective Date and continues until the one year anniversary of the end of the Term and “The Term of Non-Solicitation” begins on the Effective Date and continues until the one year anniversary of the end of the Term.
(g)Employee acknowledges and agrees that the nature of the Confidential Information that the Company may to provide Employee during the Term would make it difficult, if not impossible, for Employee to perform in a similar capacity for a Competing Business (as defined below) without disclosing or using the Confidential Information. Employee further acknowledges and agrees that the Company’s business is conducted throughout the country in a highly competitive market. Accordingly, Employee agrees that he will not (other than for the benefit of the Company under this Agreement) directly or indirectly, be an officer, director, or employee, during the Term and for one year thereafter, for Delta Airlines, Inc., American Airlines Group, Inc., United Continental Holdings, Inc., Spirit Airlines, Inc., JetBlue Airways Corporation, Alaska Air Group, Inc., Virgin America Inc., Allegiant Air (or Allegiant Travel Co.); or any of the affiliated companies of the forgoing (a “Competing Business”), or during the Term of Non-Solicitation, (i) hire, (ii) attempt to hire, or (iii) contact or solicit for hiring any Company employee without the prior written authorization of Southwest’s Chief Legal Officer. Despite the forgoing, 
(h)During the Term of Non-Competition, Employee will not use Employee’s access to, knowledge of, or application of Confidential Information to perform any duty for any Competing Business or engage in public speeches, interviews or podcasts without prior written authorization of Southwest’s Chief Legal Officer; it being understood and agreed to that this Section (h) is in addition to and not be construed as a limitation upon the covenants in Section (g) hereof.
(i)Employee acknowledges that the scope of prohibited activities, and time duration of the preceding paragraphs are reasonable in nature and are no broader than are necessary to maintain the Company’s (i) confidentiality, (ii) goodwill, (iii) Confidential Information private, and (iv) other legitimate business interests.
(j)If any court determines that any portion of this Exhibit A is invalid or unenforceable, the remainder of this Exhibit A will not thereby be affected and must be given full effect without regard to the invalid provisions. If any court construes any of the provisions of this Exhibit A to be unreasonable because of the duration or scope of such provision, such court will have the power to reduce the duration or scope of such provision and to enforce such provision as so reduced.
(k)Employee’s covenants under this Exhibit A must be construed as an agreement independent of any other provision of the Agreement; and the existence of any claim or cause of action of Employee against the Company, whether predicated on this Agreement or otherwise, does not constitute a defense to the Company’s enforcement of this covenant.

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