Document:

Exhibit

Exhibit 10.1

PIEDMONT OFFICE REALTY TRUST, INC.
LONG-TERM INCENTIVE PROGRAM
(Amendment No. 2 Effective April 27, 2016)
The Compensation Committee (the “Committee”) of the Board of Piedmont Office Realty Trust, Inc. (the “Company”) previously established this Long-Term Incentive Program (the “LTIP”) under the Piedmont Office Realty Trust, Inc. 2007 Omnibus Incentive Plan (the “Plan”), as previously amended on April 28, 2015.  The Committee now desires to amend and restate the LTIP in its entirety, effective as of April 27, 2016.  The LTIP is intended to allow the Company to make certain Awards under the Plan in furtherance of the purposes of the Plan.  Capitalized terms that are not defined herein shall have the same meanings given to such terms in the Plan.  
		
	1.
	Definitions.  For the purposes of the LTIP, the following terms shall have the meanings set forth below:

(a)    “Average Price” means, with respect to the beginning of a Performance Cycle, the average of the Closing Stock Price for the last 10 trading days preceding the start of the applicable Performance Cycle and the first 10 trading days of the applicable Performance Cycle, and with respect to the end of an Performance Cycle, the average of the Closing Stock Price for the last 10 trading days preceding the end of the applicable Performance Cycle and the first 10 trading days after the end of the applicable Performance Cycle.  Notwithstanding the forgoing, in the event a Participant terminates employment during a Performance Cycle in accordance with Section 5, Average Price on the date of the Participant’s termination of employment means the average of the Closing Stock Price for the last 10 trading days preceding the date of the Participant’s termination of employment and the first 10 trading days following the date of Participant’s termination of employment.

(b)    “Cause” means, unless otherwise specified in the Participant’s employment agreement, any of the following: (i) any material act or material omission by the Participant which constitutes intentional misconduct in connection with the Company’s business or a willful violation of law in connection with the Company’s business; (ii) an act of fraud, conversion, misappropriation or embezzlement by the Participant with respect to the Company’s assets or business or conviction of, indictment for (or its procedural equivalent) or entering a guilty plea or plea of no contest with respect to a felony, or the equivalent thereof, or any crime involving any moral turpitude with respect to which imprisonment is a common punishment; (iii) any act of dishonesty committed by the Participant in connection with the Company’s business; (iv) the willful neglect of material duties of, or gross misconduct by, the Participant; (v) the use of illegal drugs or excessive use of alcohol that the Board determines in good faith to materially interfere with the performance of the Participant’s duties to the Company; and (vi) any other failure (other than any failure resulting from incapacity due to physical or mental illness) by the Participant to perform his material and reasonable duties and responsibilities as an employee, director or consultant of the Company. 

(c)    “Closing Stock Price” means, with respect to Stock, the closing sales price per share on the applicable date quoted on the NYSE, or if there are no sales on such date, for the last preceding date on which there were sales of Stock, as determined by the Committee.  With respect to the stock of a company in the Peer Group, “Closing Stock Price” means, (i) the closing sales price per 

share on the applicable date as quoted or reported on such national securities exchange or NASDAQ, or if there are no sales on such date, for the preceding date on which there were sales of stock, as determined by the Committee. 

(d)    “Disability” means physical or mental incapacity whereby a Participant is unable with or without reasonable accommodation for a period of six (6) consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period to perform the essential functions of such Participant’s duties. 

(e)    “Good Reason” means, unless otherwise specified in the Participant’s employment agreement, any of the following: (i) the failure of the Company to pay or cause to be paid the Participant’s base salary or annual bonus when due; (ii) a material diminution in the Participant’s status, including, title, position, duties, authority or responsibility; (iii) a material adverse change in the criteria to be applied by the Company with respect to the Participant’s target annual bonus as compared to the prior fiscal year (unless Executive has consented to such criteria); (iv) the relocation of the Company’s executive offices to a location outside of the Atlanta, Georgia metropolitan area without the consent of the Participant; (v) the failure to provide the Participant with incentive awards that are reasonably and generally comparable to awards granted to other executive officers (other than the CEO) of the Company; or (vi) the occurrence of a Change of Control (as defined in the Plan). Notwithstanding the foregoing, (1) Good Reason (A) shall not be deemed to exist unless the Participant gives to the Company a written notice identifying the event or condition purportedly giving rise to Good Reason within 90 days after the time at which Executive first becomes aware of the event or condition and (B) shall not be deemed to exist at any time after the Board has determined that there exists an event or condition which could serve as the basis of a termination of the Participant’s employment for Cause so long as the Board gives notice to the Participant of such determination within thirty (30) days of such determination and such notice is given within 120 days after the time at which the Board first becomes aware of the event or conditions constituting Cause; and (2) if there exists an event or condition that constitutes Good Reason, the Company shall have 30 days from the date notice of Good Reason is given to cure such event or condition and, if the Company does so, such event or condition shall not constitute Good Reason hereunder; and if the Company does not cure such event or condition within such 30-day period, the Participant shall have ten (10) business days thereafter to give the Company notice of termination of employment on account thereof (specifying a termination date no later than ten (10) days from the date of such notice of termination).
(f)          “Grant Date” shall mean the date that the LTIP plan is approved by the Compensation Committee of the Board of Directors of the Company.
(g)    “LTIP Award” means an Award of performance shares under the LTIP.
(h)    “Participant” means an employee, consultant, or Non-Employee Director of the Company, as selected by the Committee in its discretion.
(i)    “Peer Group” means the peer group of REIT companies selected by the Committee. 
(j)    “Peer Group Percentile Ranking” means a comparison of the Company’s TSR to the TSR of other companies in the Peer Group, expressed on a percentile basis.  
(k)    “Performance Adjustment” means any adjustment made in accordance with Section 3(b) to the calculation of the percentage of Target Amount earned under Section 3(a). 

(l)    “Performance Level” means the Threshold, Target or Maximum Performance Level specified in Section 3(a).  
(m)    “Performance Cycle” means the three-year period beginning on January 1 of the calendar year with respect to which a LTIP Award is granted.  The first Performance Cycle shall commence on January 1, 2011, and end on December 31, 2013.  
(n)    “Target Amount” means the number of shares of the Stock with respect to which the LTIP Award relates assuming achievement of the Target Performance Level. The Target Amount shall be determined by dividing the dollar value established by the Committee with respect to a Participant’s LTIP Award by the closing price of the Stock on the Grant Date. 
(o)    “Total Shareholder Return,” or “TSR,” means the Average Price at the end of a Performance Cycle, minus the Average Price at the beginning of a Performance Cycle, plus any dividends paid during the Performance Cycle, all divided by the Average Price at the beginning of the Performance Cycle; provided, however, that if a Participant terminates employment during a Performance Cycle in accordance with Section 5, TSR means the Average Price on the date of the Participant’s termination of employment, minus the Average Price at the beginning of Performance Cycle, plus any dividends paid during the Performance Cycle until the date of the Participant’s termination of employment, all divided by the Average Price at the beginning of the Performance Cycle.  If, during a Performance Cycle a Peer Group company (i) is acquired by or merged into another entity, and in either case is not the surviving entity following such merger or acquisition, or (ii) ceases to be a publicly-traded REIT as the result of a transaction to go private, the Peer Group company’s TSR shall be determined as of the date of such merger, acquisition or privatization transaction.  If, during a Performance Cycle , a Peer Group company declares bankruptcy or is delisted from the securities exchange on which it is traded, such Peer Group company’s TSR shall be set at -100%.
		
	2.
	Grant of LTIP Awards.  Subject to the terms and provisions of the Plan and the LTIP, each year the Committee may grant LTIP Awards to such Participants in such amount and pursuant to such terms and conditions (to the extent consistent with the LTIP and the Plan) as the Committee may determine and as set forth in the applicable LTIP Award agreement.  LTIP Awards are generally granted to Participants with respect to successive overlapping Performance Cycles.  Not later than 120 days after the commencement of each Performance Cycle or as otherwise required by the Plan, the Committee shall establish in writing the LTIP Awards for such Performance Cycle, which shall include the applicable Target Amount, the Performance Levels, the Peer Group, and any required Performance Adjustments.

3.LTIP Award Payouts
.
(a)    Determination of Payout.  An LTIP Award granted to a Participant shall specify the Target Amount that can be earned under such LTIP Award for the applicable Performance Cycle.  The percentage of the Target Amount earned by a Participant for a Performance Cycle will be determined by the Committee based upon the Company’s Total Shareholder Return (“TSR”) relative to the TSR of the companies in the Peer Group.  Based upon the Company’s Peer Group Percentile Ranking, a Participant will earn a percentage of the Target Amount as set forth in the following chart:  
 

	
			
	

Performance 
Level
	Peer Group Percentile Ranking
	Percentage of
Target Amount Payable

	Maximum 
	75th percentile or above
	200%

	Target
	Median
	100%

	Threshold
	25th percentile
	50%

	Below Threshold
	below 25th percentile
	0%

If the Peer Group Percentile Ranking is between the Threshold and Target Performance Levels or between the Target and Maximum Performance Levels, the percentage of Target Amount earned shall be determined by linear interpolation.
(b)    Performance Adjustments.  Notwithstanding the determination of the percentage of Target Amount earned under Section 3(a), the Board, in its absolute discretion, may adjust such amount as follows: (i) if the calculated amount based on relative performance is above the Target Performance Level, but the Company’s Total Shareholder Return is negative, then the calculated amount can be decreased by up to 50 percentage points, and (ii) if the calculated amount based on relative performance is below the Target Performance Level but the Company’s Total Shareholder Return is positive, then the calculated amount can be increased by up to 50 percentage points.
(c)    Calculation of Performance and Target Amount Earned.  Following the end of each Performance Cycle the Committee shall determine the Company’s TSR, the Peer Group Percentile Ranking, and the percentage of the Target Amount earned under Section 3(a), subject to any Performance Adjustment in accordance with Section 3(b).  Notwithstanding the foregoing, if the Peer Group Percentile Ranking is below the Threshold Level, but the Committee determines that the Company’s TSR is 10% or greater, then 50% of the Target Amount will be deemed earned.  
		
	4.
	Settlement of LTIP Awards

.  Subject to Section 5 hereof, the percentage (if any) of each Participant’s LTIP Award that is earned with respect to a Performance Cycle as provided in Section 3 hereof shall be paid by the Company in the calendar year after the end of such Performance Cycle.  Payments hereunder may be made in cash, Stock, or a combination thereof in accordance with the 8Plan, as determined by the Committee in its sole discretion.  
5.    Termination of Employment.  Except as otherwise provided in this Section 5, a Participant shall not be entitled to any payment under an LTIP Award with respect to a Performance Cycle ending after his or her termination of employment.  In the event of a Participant’s termination of employment during a Performance Cycle due to (a) termination by the Company without Cause or by the Participant for Good Reason, (b) the Participant’s death or Disability, (c) the expiration of the Participant’s employment agreement due to non-renewal by the Company, (d) retirement or (e) a Change of Control (as defined in the Plan), such Participant will be entitled to payment of a portion of his or her LTIP Award for such Performance Cycle based on the Company’s TSR relative to the TSR of the companies in the Peer Group determined as of the date of the Participant’s termination of employment.  The percentage of the Target Amount earned pursuant to Section 3 will then be multiplied by a fraction, the numerator of which equals the number of days during such Performance Cycle that such Participant was actively employed by the Company, and the denominator of which equals 1095 days, or total days in the Performance Cycle.  Such payment will be paid by the Company 90 days after such Participant’s termination of employment occurs.

6.    409A Compliance.  The Company intends that payments under the LTIP comply with or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”), and the Company shall have complete discretion to interpret and construe the LTIP and any associated documents in any manner that establishes an exemption from (or compliance with) the requirements of Code Section 409A.  If any provision of the LTIP does not accurately reflect its intended establishment of an exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent, such provision shall be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall be interpreted by the Company in a manner consistent with such intent, as determined in the discretion of the Company.  A termination of employment shall not be deemed to have occurred for purposes of any provision of the LTIP providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Code Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A, and, for purposes of any such provision of the LTIP, references to a “termination,” “termination of employment” or like terms shall mean “such a separation from service.”  The determination of whether and when a separation from service has occurred for proposes of the LTIP shall be made in accordance with the presumptions set forth in Section 1.409A-1(h) of the Treasury Regulations.  Any provision of the LTIP to the contrary notwithstanding, if the Company determines that the Participant is a “specified employee,” within the meaning of Code Section 409A, then to the extent that any payment under the LTIP on account of Participant’s separation from service would be considered nonqualified deferred compensation under Code Section 409A, such payment shall be delayed and paid at the date which is the earlier of (i) six (6) months and one day after the Participant’s separation from service and (ii) the date of Participant’s death (the “Delay Period”).  Upon the expiration of the Delay Period, all payments delayed pursuant to this Section 6 shall be paid in a lump-sum.  The Company makes no representation or warranty and shall have no liability to any participant or any other person if any provisions of the LTIP are determined to constitute deferred compensation subject to Code Section 409A, but do not satisfy an exemption from, or the conditions of, Code Section 409A.
7.    Miscellaneous.  The Board may, at any time and with or without prior notice, amend, alter, suspend or terminate the LTIP in accordance with Section 17 of the Plan.  For the avoidance of doubt, prior to the time the Committee grants any LTIP Awards with respect to a particular Performance Cycle , the Committee shall have complete discretion to award or not award LTIP Awards with respect to such Performance Cycle. All provisions of the LTIP are subject to the terms and conditions set forth in the Plan, which are hereby incorporated herein by reference.  To the extent the terms of the LTIP are inconsistent with or modify, amend of supplement any provisions of the Plan, to the extent permitted under the Plan, the LTIP will be deemed to be a determination by the Committee to so modify, amend or supplement the Plan and the terms of the LTIP will have precedence over the Plan.
Adopted by the Committee on this 28th day of April, 2016.ex10-1.htm

Exhibit 10.1

 

SEPARATION AGREEMENT AND GENERAL RELEASE

 

This Separation Agreement and General Release (the “Agreement”) constitutes an offer to you by Ignite Restaurant Group – RSC, LLC together with its parents, subsidiaries, and affiliated companies, including but not limited to Ignite Restaurant Group, Inc. (hereinafter collectively referred to as the “Company”). Throughout this Agreement, the phrase “the Company” refers to the entities listed above and their subsidiaries and affiliates (past and present), employee benefits plans, directors and officers, fiduciaries, trustees, employees, successors, legal representatives, principals, and agents. It is important that you read and understand the terms of this Agreement in full. If you decide to accept and sign it, you do so knowingly and voluntarily. To enable you to do that, we recommend that you consult with an attorney about this Agreement and know your rights before signing it. 

 

As explained to you, the purpose of this Agreement is to resolve all claims that you have or may have against the Company arising out of or relating to your employement and separation from the Company. Your last day of employment is July 14, 2016 (“Separation Date”). 

 

I. SEPARATION PAYMENT

 

If you decide to sign this Agreement and waive your rights against the Company arising out of your employment and separation, the Company will provide the benefits listed below:

 

	 	
Separation Payment:
	
Six (6) months of pay totaling $187,500.00 less $8,506.00 due the company for unauthorized expenses. The amount of $178,994.00 (the “Separation Payment”) will be payable in installments at Employee’s regular bi-weekly rate of pay effective as of Separation Date, less applicable taxes and withholdings on its regular payday(s) through Separation Date. The $8,506.00 due the Company will be deducted from the first installment of the Separation Payment. You will also be paid accrued but unused vacation time. In accordance with the Omnibus Incentive Plan of 2012, as amended, all equity not vested as of the Separation Date will be forfeited, if applicable. This Separation Payment will be made in installments, as described above, by direct deposit. Any amounts due or payable under this Agreement will be subject to deductions for any amounts owed by you to the Company. You further agree to submit any outstanding expense reports for review and approval within two weeks of the Separation Date.

	 	 	 
	 	 	The Company will provide a lump sum cash payment equivalent to the applicable COBRA premium for six monthys. This payment equates to $9,609.30, which is based on the terms of Ignite’s group health plan and Employee’s coverage under such plans as of the Separation Date, subject to applicable tax withholdings (the “Special Cash Payment”). You may, but are not obligated to, use such Special Cash Payment toward the cost of COBRA premiums. You agree that other than the Special Cash Payment, Company has no obligation to pay for your continued health insurance coverage.

  

The Separation Payment above serves as payment for the release and waiver of rights set forth in the Agreement and is an amount and/or benefit that you would not otherwise be entitled to receive through any compensation arrangement or benefit plan associated with your employment.

 

 

	
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II. WAIVER OF RIGHTS

 

I, David Catalano, knowingly and voluntarily agree to waive, settle, release, and discharge the Company from any and all claims, demands, charges, damages, actions or causes of action, including any claim for attorneys’ fees, of whatever nature, in law or equity, whether growing out of tort, contract, compensation or otherwise, including but not limited to, all rights of action under Title VII of the Civil Rights Act of 1964, 42 U.S.C. Section 2000e, et seq.; the Civil Rights Act of 1991; the Civil Rights Act of 1866, 42 U.S.C. Section 1981; the Americans with Disabilities Act, 42 U.S.C. Section 12010, et seq.; the Family and Medical Leave Act; the Employee Retirement Income Security Act; the Fair Labor Standards Act, 29 U.S.C. Section 201, et seq.; the Equal Pay Act, 29 U.S.C. Section 206, et seq.; the Genetic Information Nondiscrimination Act of 2008, 42 U.S.C. Section 2000ff, et seq.; and any other law or laws of the United States, and any other state in the United States, or any ordinances of any locality, which may have afforded me a cause of action or a legal or equitable claim of any sort in connection with my employment or separation from employment. 

 

I understand and agree that this waiver specifically includes any and all claims, demands, obligations, and/or causes of action that have, through ignorance, oversight, or error, been omitted from the terms of this Agreement. I make this waiver with the full knowledge of my rights and with specific intent to release both known and unknown claims.

 

I acknowledge and understand that by executing this Agreement I am waiving my right to file suit or to pursue any claim through arbitration for any claim I may have under any federal, state, or local laws, statutes, ordinances, regulations, or other legal theories, including but not limited to the laws and statutes named in the paragraph above. 

 

I understand that I am permitted by law to file a charge with the U.S. Equal Employment Opportunity Commission (EEOC), but should any charge or action be filed by or on behalf of me, I agree to promptly give the agency or court having jurisdiction a copy of this entire Agreement and inform the court or agency that I have fully settled any and all of my claims against the Company arising from my employment or separation from employment. I waive any right I may have to recover in any proceeding that is based in whole or in part on the claims I waive and release in this Agreement and I assign any such recovery to the Company. This includes my waiver of any right to recover from any charge or proceeding before, or brought by, the EEOC or any other federal, state or local agency or court.

 

III. PROMISES TO THE COMPANY

 

I confirm that I have not filed any legal proceeding(s) against the Company; I am the sole owner of the claims released herein; I have not transferred any such claims to anyone else; and I have the full right to grant the waivers, releases and agreements in this Agreement.

 

No Claim for Leave or Compensation: I confirm that I have received all leave (paid or unpaid), compensation, wages, bonuses, commissions, and/or benefits to which I am entitled, except as provided by Section I of this Agreement. This Agreement does not, however, supersede any retirement income benefit to which I may be eligible. I further confirm that I have no known workplace injuries or occupational diseases.

 

Return of Company Property: I promise that immediately following my Separation Date, I will return all of the Company’s property of any type that I have in my possession. This includes any files, documents, keys, handbooks, manuals, computer printouts, credit cards, dining cards, vehicles, equipment, tools, phone(s), radio(s), ID badge, computer disks, other electronic data, copies of any of the above items, and any other form of the Company’s property whatsoever. 

 

 

	
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 Employee's Initials

	
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Confidentiality & Non-Disparagement: Following my Separation Date, I agree to keep confidential all information regarding the Company’s business, operations, systems, finances, resources, customers, or prospects of the Company, and I further agree not to disclose any such confidential or proprietary business information without the prior written authorization of the Company, except pursuant to subpoena, judicial process, or court order, or if the information is in the public domain. I agree to immediately return to the Company all confidential and proprietary business information, as well as all files, memoranda, records, documents, computer records, copies of the foregoing, and other information related to the Company in my possession, custody, or control or in the possession, custody, or control of another to which I have access. This confidentiality agreement supplements, but in no way limits, the protections available to the Company under statutory or common law to protect its confidential information and trade secrets.

 

I further agree not to disclose, publicize, or cause to be publicized any of this Agreement’s terms or conditions except as may be compelled by judicial process. Notwithstanding the foregoing, such nondisclosure does not include my attorney that I have chosen to seek advice from or to consult with regarding my decision to execute this Agreement.

 

I further agree that I will not make any disparaging remarks (comments that are negative in nature and which portray a person or entity in a bad light or diminish its reputation in its industry or community) about the Company, its employees, officers, directors, and managers to anyone, including the public or the media. 

 

Should I breach my promises regarding confidentiality and non-disparagement, the Company may cancel any unpaid separation benefits. If I have already received my separation benefits and I breach my promises regarding confidentiality and non-disparagement, I agree to pay the Company liquidated damages equal to the amount of the Separation Pay outlined in Section I above, plus any other recoverable damages. My promises regarding confidentiality and non-disparagement are not intended to prevent cooperation through investigation, testimony or otherwise with any administrative agency or court, or as otherwise required by law.

 

Tax Indemnification: I agree that I am solely responsible for the payment of all taxes and for the penalties and interest owing or determined to be owed by any appropriate taxing authority and that I will indemnify the Company for the same. I agree that the Company offers no opinion on the taxability of such payments under Section I of this Agreement.

 

Satisfaction of All Obligations: I agree that all obligations of the Company under any and all plans, agreements, policies, and/or practices have been satisfied or exceeded by the payments described in Section I, above.

 

 

IV. MISCELLANEOUS TERMS AGREED TO BY THE PARTIES

 

In exchange for the promises made by and to the Company and me, we mutually agree to the following terms:

 

 

 

	
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Prepared for David Catalano
	
 
	 

   

 

 

 

  

Enforcement: Either party may enforce this Agreement if the other party breaches it. This Agreement may be used in a subsequent proceeding to enforce its terms.

 

Severability: If an arbitrator refuses to enforce any part of this Agreement, the remainder of the Agreement will not be affected and will remain in force.

 

Rule of Construction: The language of all parts of this Agreement shall be construed as a whole and according to its fair meaning, and not strictly for or against either party. It is expressly understood and agreed that any rule requiring construction of this Agreement against its drafter shall not be applied in this case.

 

Choice of Law: The Company and I expressly agree that this Agreement shall, in all respects, be interpreted, enforced, and governed under the laws of Texas, and shall be subject to arbitration. The prevailing party in any such dispute shall be entitled to recover actual damages plus reasonable attorney’s fees and costs. Should I file such a challenge and lose, I understand that I will be personally liable for my own legal fees and costs and for other fees or costs that may be awarded.

 

Non-Admission of Wrongdoing: This Agreement does not constitute an admission by the Company of a violation of any federal, state, or local laws. It is further understood and agreed that this settlement is a compromise of a real or potential dispute and that the promises of the Company are not to be construed as an admission of liability, but rather that liability is expressly denied.

 

Merger Clause: This Agreement contains the entire and only agreement between the Company and me regarding the subject matter of this Agreement. To the extent there are any restrictive covenants or confidentiality agreements which, by their terms or by operation of law, survive the termination of my employment, the obligations of this Agreement will supplement, but not replace, such agreements. Any oral or written promises or assurances related to the subject matter of this Agreement that are not contained in this Agreement are waived, abandoned, and withdrawn, and are without legal effect. I acknowledge that I have not relied on any representations, promises, or agreements of any kind made to me in connection with my decision to sign this Agreement, except for those set forth in this Agreement.

 

Binding Effect: This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, and personal representatives.

 

Amendment: This Agreement may not be amended except by written agreement signed by both parties which specifically refers to this Agreement.

 

Waiver: No provision hereof may be waived unless in writing signed by all parties hereto. Waiver of any one provision herein shall not be deemed to be a waiver of any provision herein. 

 

Effective Date: This Agreement shall, upon execution by me, become immediately effective and enforceable.

 

V. ASSURANCES TO THE COMPANY

 

This Agreement is a legal document with legal consequences. The Company wants to be certain that I fully understand the legal effect of signing this Agreement. I, therefore, make the following assurances to the Company:

 

	
(1)
	
I have carefully read the complete Agreement.

 

 

 

	
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(2)
	
The Agreement is written in language that I understand.

 

	
(3)
	
I understand all of the provisions of this Agreement.

 

	
(4)
	
I understand that this Agreement is a waiver of any and all claims I may have against the Company.

 

	
(5)
	
I willingly waive any and all claims, known and unknown, in exchange for the promises of the Company in this Agreement, which I acknowledge constitute valuable consideration that I am not otherwise entitled to receive. 

 

	
(6)
	
I enter this Agreement freely and voluntarily. I am under no coercion or duress whatsoever in considering or agreeing to the provisions of this Agreement.

 

	
(7) 
	
I acknowledge that I have been advised to consult with an attorney of my choice before signing this Agreement. By signing this Agreement, I acknowledge that I have had the opportunity to consult with an attorney of my choice.

 

	
(8)
	
I understand that this Agreement is a contract. As such, I understand that either party may enforce it.

 

 

 

Executed, this     14     day of July, 2016.              

 

 

		 	
	
WITNESS (sign name) 
	 	
EMPLOYEE (sign name)

	 	 	 
		 	
	WITNESS (print name)	 	EMPLOYEE (print name)

                                         

 

 

 

 

	
 
	
 
	
 

 

 

 

 

	
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Prepared for David Catalano

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