Document:

Exhibit 10.1

 

 

March
29, 2020

 

Brendan
Jones

BrendanSeanJones@gmail.com

 

Dear
Brendan:

 

On
behalf of Blink Charging Co. (the “Company”), I am pleased to offer you the position of Chief Operating Officer (“COO”).
As COO you will be reporting to the Company’s Chief Executive Officer and Executive Chairman and working at the Company’s
headquarters at 407 Lincoln Road, Suite 704, Miami Beach, FL 33139. Your appointment is subject to approval by the Board and your
compensation package, as outlined herein, is subject to recommendation of the Compensation Committee (“Compensation Committee”)
and the approval of the Board. Your Employment Start Date will be Monday April 20, 2020.

 

Base
Salary. Your starting annual-base salary will be $29,166.66 per month ($350,000 annually), less applicable taxes, deductions,
and withholdings, paid monthly and subject to annual review (“Base Salary”). You will be paid on the Company’s
regularly scheduled payday. The Company’s current regularly scheduled payday is on the 15th and 30th
of every month.

 

Signing
Bonuses: As additional consideration for you joining the Company the Company shall pay you:

 

Cash
Signing Bonus: A one-time signing bonus of $55,000 (gross) payable in a single lump sum to be dispersed within seven (7) days
of your start date. If you resign prior to your one-year anniversary you agree to repay Blink the full amount of this signing
bonus, and/or have the amount deducted from any monies Blink owes you. In the event your employment is terminated for anything
other than misconduct or gross negligence you will not be required to repay this cash singing bonus.

 

Equity
Signing Bonus: A onetime equity award of $70,000 worth of the Company’s common stock (the “Equity Signing Bonus”).
The Equity Signing Bonus will be granted and fully vest on the one-year anniversary of your employment with the Company. If you
resign or are terminated for cause within twelve months of your start date you are no longer eligible to receive the Equity Signing
Bonus.

 

Annual
Performance Cash Bonus. Upon meeting pre-determined periodic Key Performance Indicators (“KPIs”) every year, you
will be eligible for an annual cash bonus of 40% of your base salary. Your KPI’s will be set by the mutual agreement of
the Compensation Committee and yourself within 30 days from your Employment Start Date (the “Cash Performance Bonus”).
The Failure to establish KPI’s which is not the fault of the Compensation Committee will exclude you from eligibility for
the Performance Bonus. To qualify for the Cash Performance Bonus, you must meet the KPI’s.

 

Equity
Awards. As a “C” level executive of the Company, you will be entitled to receive equity awards under the Company’s
2018 Omnibus Incentive Plan, (the “2018 Omnibus Incentive Plan”). The aggregate annual award value under the 2018
Omnibus Incentive Plan will be equal to 40% of your Base Salary, as adjusted from time to time, (the “Grant”). Twenty-Five
percent (25%) of such Grant will be in the form of Restricted Common Stock (the “RCSs”) and the remaining Seventy-Five
percent (75%) of such Grant will be in the form of options to purchase the Company’s common stock (the “Stock Options”).
The number of Stock Options shall be calculated in accordance with the Company’s option valuation practices. The RCSs shall
vest on the first anniversary of the day they were granted, the RCS grant will include a cash payment upon vesting to cover expected
ordinary income tax charges and will be calculated at the highest individual personal income tax rate (“Gross Up”).
The Stock Options shall vest in equal one-third (1/3) increments on each anniversary of the day they were granted. All Equity
Awards shall be granted to you, provided that: (1) at the end of each applicable vesting date, you are still employed by the Company;
and (2) provided that you satisfy the KPIs and the other performance criteria established by the 2018 Omnibus Incentive Plan.
All Stock Options that will be granted to you shall expire 5 years following their vesting.

 

 

    	 

    	 

    

 

Benefits.
At no cost to you, you and your family will participate in the Company’s current medical, dental, vision, short term
disability, long term disability, life, and accident benefit programs. Beginning on your start date you are eligible for a monthly
car and auto insurance allowance not to exceed $1,000 month. It is preferred that the vehicle selected is an Electric Vehicle,
but it is understood that timing and availability may prohibit this option.

 

Business
Expense Reimbursement. Upon presentation of appropriate documentation in accordance with the Company’s expense reimbursement
policies, the Company will reimburse you for the reasonable business expenses you incur in connection with your employment.

 

Paid
Time Off. You will accrue Paid Time Off, which you will be allowed to use for absences due to illness, vacation, or personal
need, at a rate of 240 hours, or twenty (30) days (based upon an eight-hour workday), per year. Additionally, you will have two
(2) floating holidays which you will be able to use anytime during the year.

 

Relocation
Assistance. The company will pay the cost of your relocation from Virginia to Florida, up to $35,000.

 

Term
and Termination. The initial term shall be two (2) years commencing on you Employment Start Date (the “Term”).
On the second anniversary, your employment will be renewed automatically for an additional one-year term, unless the Company,
at its sole discretion, provides you with a notice of non-renewal at least 30 days prior to the end of the Term.

 

Termination
by the Company for Cause. You may be terminated by the Company immediately and without notice for “Cause.”
“Cause” shall mean: (i) your willful material misconduct; or (ii) your willful failure to materially perform your
responsibilities to the Company. “Cause” shall be determined by the Company after conducting a meeting where you can
be heard on the topic.

 

Termination
Without Cause: The Company may terminate your employment without Cause not earlier than 3 months following your Employment
Start Date. Upon Termination Without Cause the Company will (i) continue payment of your Base Salary for additional number of
months equal to the number of months of your actual employment prior to the termination, capped at 12 months maximum payment.
Additionally, the Company will subsidize your COBRA rate for six months after the official date of termination. You will only
be responsible to pay your active employee rate for the benefits. In all other types of terminations or resignation on your part,
all further vesting of your outstanding equity awards or bonuses, as well as all payments of compensation by the Company to you
hereunder will terminate immediately (except as to amounts already earned). The foregoing is your sole entitlement to severance
payments and benefits in connection with the termination of your employment.

 

Death
and Disability. In the event of your death during the Term, your employment shall terminate immediately. If, during
the Term you shall suffer a “Disability” within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986,
the Company may terminate your employment. In the event your employment is terminated due to death or Disability, you (or your
estate in case of death) shall be eligible to receive the separation benefits (in lieu of any severance payments): all unpaid
Base Salary amounts, and all outstanding and fully vested stock options and other equity awards.

 

Proprietary
Agreement and No Conflict with Prior Agreements. As an employee of the Company, it is likely that you will become knowledgeable
about confidential and/or proprietary information related to the operations, products, and services of the Company and its clients.
Similarly, you may have confidential or proprietary information from prior employers that must not be used or disclosed to anyone
at the Company. Therefore, you will be required to read, complete, and sign the Company’s standard Employee Confidentiality
and Assignment of Inventions Agreement (“Proprietary Agreement”) and the Proprietary Information Obligations Checklist
and return it to the Company on or prior to your Employment Start Date. In addition, the Company requests that you comply with
any existing and/or continuing contractual obligations that you may have with your former employers. By signing this offer letter,
you represent that your employment with the Company shall not breach any agreement you have with any third party.

 

Obligations.
During your employment, you shall devote your full business efforts and time to the Company. However, this obligation shall
not preclude you from engaging in appropriate civic, charitable or religious activities, or, with the consent of the Board, from
serving on the boards of directors of companies that are not competitors to the Company, as long as these activities do not materially
interfere or conflict with your responsibilities to, or your ability to perform your duties of employment at, the Company. Any
outside activities must be in compliance with and if required, approved by the Company’s Corporate Governance Guidelines.

 

 

    	 

    	 

    

 

Non-competition.
In addition to the obligations specified in the Proprietary Agreement, you agree that during your employment with the Company
you will not engage in, or have any direct or indirect interest in, any person, firm, corporation, or business (whether as an
employee, officer, director, agent, security holder, creditor, consultant, partner or otherwise) that is competitive with the
business of the Company, including, without limitation, planning, developing, installing, marketing, selling, leasing, and providing
services relating to electric vehicle charging stations.

 

Company
Policy Documents. As part of your onboarding process, you will be provided copies of the Company’s handbook which shall
be considered the terms and conditions of your employment, including the Confidentiality, Non-Disclosure, and IP Ownership Agreement
(“Company Documents”) all of which must be returned to the Company with signed consents and acknowledgments on or
before your Employment Start Date.

 

This
offer of employment is conditioned upon the following: (i) your execution of this offer letter; you’re your execution of
the Company Documents’ acknowledgment forms; and (iii) you taking and passing a Company administered drug and background
checks prior to commencement of your employment.

 

Background
Check. You represent that all information provided to the Company or its agents with regard to your background is true and
correct.

 

We
look forward to you joining the Company. Please indicate your acceptance of this offer by signing below and returning an executed
copy of this offer to me at your earliest convenience.

 

Sincerely,

 

	/s/
                                         Michael D. Farkas

	 
	

Michael
D. Farkas,

	 
	Chief Executive Officer	 
	Date:
        April 17, 2020

	 

 

I
accept this offer of employment with Blink Charging, Co. and agree to the terms and conditions outlined in this letter.

 

	/s/
    Brendan Jones	 	March
    31, 2020
	Brendan Jones	 	Date
	 	 	 
	 	 	
	 	 	Employment Start Date

 

 

    	 

    	 

    

 

Appendix
A

 

KPI
ListDocument

Exhibit 10-1

Company’s Form of Separation Agreement & Release

SEPARATION AGREEMENT AND RELEASE

To:      «Employee_Name»
Date:   «Actual_Offer_Date»

«Company» (“P&G”) is willing to provide you with certain assistance in connection with your employment separation from the Company.  The following describes the terms under which you are separating from employment.  Your receipt of the benefits described below is conditioned upon your accepting and abiding by the terms of this Agreement.

						
	Last Day of Employment:
	Your last day of employment will be «Exit_Date», referred to as your “Last Day of Employment.” You understand and agree that if P&G determines that you engaged in misconduct during your employment, or if you fail to perform your work and responsibilities in a satisfactory manner up to and including your Last Day of Employment, P&G may terminate your employment immediately and will not provide, nor be obligated to provide, the payment(s) and other benefits described in this Agreement. Otherwise, unless noted below, your pay and benefits will cease as of your Last Day of Employment.

	Separation Payment:
	As soon as administratively practical after your Last Day of Employment, P&G will provide you with a Separation Payment of «Total_Amount», less legally required withholdings and deductions. In no event will payment be made before expiration of the seven-day revocation period discussed below or later than the March 15th of the year following the year which includes your last day of employment.

Amounts you owe to P&G as of your Last Day of Employment, including, but not limited to, wage and/or benefit overpayments and unpaid loans, will also be deducted from the Separation Payment.

	Payment for Unvested PST:

	If you are not fully-vested in the Procter & Gamble Profit Sharing Trust and Employee Stock Ownership Plan (“PST”) as of your Last Day of Employment, as soon as administratively practical after your Last Day of Employment, but no later than the March 15th of the year following the year which includes your Last Day of Employment, you will receive a lump sum payment in an amount substantially equivalent to the non-vested credits in your account in the PST.

	STAR Awards:
	As of your Last Day of Employment, if you worked at least 28 days (4 calendar weeks) during that fiscal year, you will receive a pro-rated STAR award for that fiscal year. Your STAR award will be pro-rated by dividing the number of calendar days during the fiscal year from July 1 through your Last Day of Employment by 365. Your STAR award will be paid in cash in the September (but no later than September 15th) immediately following the end of the fiscal year in which you terminate.

						
	Equity Awards

	Your separation will be treated as a Special Separation for purposes of any outstanding equity awards granted under the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Compensation Plan, the Procter & Gamble 1992 Stock Plan, or the Gillette Company 2004 Long-Term Incentive Plan and, as a result, you will retain the awards subject to the original terms and conditions of the awards. You will also retain awards granted under the Procter & Gamble 2014 Stock and Incentive Compensation Plan and the Procter & Gamble 2019 Stock and Incentive Compensation Plan subject to the terms and conditions of those Awards.

This agreement does not alter the rights and obligations that you may have under the Procter & Gamble 2019 Stock and Incentive Compensation Plan, the Procter & Gamble 2014 Stock and Incentive Compensation Plan, the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Compensation Plan, the Procter & Gamble 1992 Stock Plan, and the Gillette Company 2004 Long-Term Incentive Plan.

	Current Medical, Dental, and Life Insurance Benefits:
	If you are enrolled in P&G’s active health (including medical, prescription drug, and EAP coverage), active dental, and company-paid life insurance coverage, that coverage will continue under the same terms until «Benefits_End_Date». Note: Any life insurance coverage other than company-paid life insurance coverage will not continue during this time.

When your extended coverage ends, you may be entitled to continue your Medical and Dental insurance coverage under COBRA. If you are entitled to COBRA continuation coverage, you will receive a notice of your right to elect COBRA.

						
	Retiree Medical and Dental Benefits:
	If you were eligible for P&G retiree healthcare coverage on your Last Day of Employment, you will be eligible to enroll in P&G’s retiree medical and dental insurance coverage. You are eligible for P&G retiree healthcare coverage if you satisfy the regular retiree eligibility rules (i.e., you are a Regular Retiree) as of your Last Day of Employment. Under the terms of this Agreement, you also are eligible for P&G retiree healthcare coverage as a Special Retiree by satisfying the Rule of 70 as of your Last Day of Employment. You satisfy the Rule of 70 when your full years of age plus your full years of service equal 701 If you are eligible for P&G’s retiree healthcare coverage as either a Regular Retiree or a Special Retiree as of your Last Day of Employment, you should contact P&G Employee Care before your extension of coverage ends to request retiree healthcare enrollment information. For details regarding the terms and conditions of your retiree health coverage, please refer to and review the summary plan descriptions, available at PGOne → Life and Career.

Important Note: If you become employed by a direct competitor of P&G (as determined by P&G’s Chief Human Resources Officer) in any capacity, you will not be eligible for coverage under P&G’s retiree healthcare coverage as long as you remain employed by such competitor. If you have questions, please contact the P&G Employee Care at [phone number].

	Outplacement Services:
	P&G’s outplacement supplier, Right Management Consultants, will provide services to assist you in managing your transition to a new future, based on your interest. Services include pre-decision counseling, career transition programs, and job development opportunities. Right Management Consultants will also assist you in preparing for your job search, including résumé preparation, cover letters, other written materials and interview and networking training.
After you accept this Agreement, you may begin utilizing outplacement services on a limited basis prior to your Last Day of Employment, consistent with the needs of the business and your responsibilities to complete and/or transition your work. Note that you must begin utilizing outplacement services within 45 days of your Last Day of Employment to be eligible for this benefit

	No Consideration Without Executing this Agreement:
	You affirm that you understand and agree that you would not receive the separation payment and/or benefits specified in this Agreement without executing this Agreement and fulfilling the promises contained in it. Except as provided in this Agreement or under the terms and conditions of an applicable benefit plan or policy sponsored by P&G, you shall not be due any payments or benefits from P&G in connection with the termination of your employment.

1 Special rules apply to Gillette Heritage Employees with regard to retiree medical eligibility and the retiree medical cost sharing under the retiree medical plan. If you are a Gillette Heritage Employee, you will receive a separate handout on your retiree medical eligibility.

						
	Continued Employment Through Your Last Day of Employment:
	You agree to perform your work and responsibilities as an employee in a satisfactory manner up to and including your Last Day of Employment, including compliance with all provisions of this “Separation Agreement and Release.” If P&G determines that you have engaged in serious misconduct during your employment, you understand and agree that P&G may terminate your employment immediately and will not provide, nor will it be obligated to provide, you with the Separation Payment, medical benefits, outplacement and other benefits described above. If you have already received any such pay or benefits, you agree to repay them to P&G upon demand.

	Nonadmission of Wrongdoing:
	You affirm that you understand and agree that neither this Agreement nor the furnishing of the consideration for this Agreement, including the Separation Payment, shall be deemed or construed at any time for any purpose as an admission by P&G of wrongdoing or evidence of any liability or unlawful conduct of any kind.

	Release of Claims – Including Age Discrimination and Employment Claims:
	In consideration of the Separation Payment and other benefits provided above to which you would not have been entitled under any existing P&G Policy, you release P&G from any and all claims you have against P&G. The term “P&G” includes «Company» and any of its present, former and future owners, parents, affiliates and subsidiaries, and its and their directors, officers, shareholders, employees, agents, servants, representatives, predecessors, successors and assigns and their employee benefit plans and programs and their administrators and fiduciaries.

This release applies to claims about which you now know or may later discover, and includes but is not limited to: (1) claims arising under the Age Discrimination in Employment Act, 29 U.S.C. § 621, et seq.; (2) claims arising out of or relating in any way to your employment with P&G or the conclusion of that employment; (3) claims arising under any federal, state and local employment discrimination laws, regulations or ordinances or other orders that relate to the employment relationship and/or employee benefits; and (4) any other federal, state or local law, rule, regulation or ordinance, public policy, contract, tort or common law.

This release does not apply to claims that may arise after the date you accept this Agreement or that may not be released under applicable law.

You are not waiving any rights you may have to: (a) your own vested accrued employee benefits under the P&G health, welfare, or retirement benefit plans as of the Last Day of Employment; (b) benefits and/or the right to seek benefits under applicable workers’ compensation and/or unemployment compensation statutes; (c) pursue claims which by law cannot be waived by signing this Agreement; (d) enforce this Agreement; and/or (e) challenge the validity of this Agreement.  

You agree that the decision as to what would be your Last Day of Employment was made prior to your accepting and executing this Agreement, and you agree that you are releasing any claim in connection with the separation of your employment.

						
		If any claim is not subject to release, to the extent permitted by law, you agree that you waive any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which P&G is a party.

Governmental Agencies: Nothing in this Separation Letter & Release prohibits or prevents you from filing a charge with or participating, testifying, or assisting in any investigation, hearing, or other proceeding before the U.S. Equal Employment Opportunity Commission, the National Labor Relations Board or a similar agency enforcing federal, state or local anti-discrimination laws. However, to the maximum extent permitted by law, you agree that if such an administrative claim is made to such an anti-discrimination agency, you shall not be entitled to recover any individual monetary relief or other individual remedies.  Nothing in this Separation Letter & Release, including but not  limited to the “Release of Claims – Including Age Discrimination and Employment Claims” and the “Confidential, Proprietary, Trade Secret Information & Period of Non-Competition” sections of this Separation Letter & Release, prohibits you from: (1) reporting possible violations of federal law or regulations, including any possible securities laws violations, to any governmental agency or entity, including but not limited to the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the U.S. Congress, or any agency Inspector General; (2) making any other disclosures that are protected under the whistleblower provisions of federal law or regulations; or (3) otherwise fully participating in any federal whistleblower programs, including but not limited to any such programs managed by the U.S. Securities and Exchange Commission and/or the Occupational Safety and Health Administration. You understand you do not need the prior authorization from the Company to make any such reports or disclosures, and you are not required to notify the Company that you have made such reports or disclosures. Moreover, nothing in this Separation Letter & Release prohibits or prevents you from receiving individual monetary awards or other individual relief by virtue of participating in such federal whistleblower programs.
	Confidential, Proprietary, Trade Secret Information & Period of Non-Competition:	Subject to the “Governmental Agencies” portion of the “Release of Claims – Including Age Discrimination and Employment Claims” above, you agree that you will not use or share any confidential, proprietary or trade secret information about any aspect of P&G’s business with any non-P&G employee or business entity at any time in the future. You further agree that you will not obtain, transfer or have in your possession any confidential, proprietary or trade secret information on or after your last day of employment, even information you may have created yourself or to which you may have contributed as a P&G employee. Confidential, proprietary or trade secret information includes, but is not limited to, marketing and advertising plans, pricing information, upstream plans, specific areas of research and development, project work, product formulation, processing methods, assignments of individual employees, testing and evaluation procedures, cost figures, construction plans, and special techniques or methods of any kind.

Notwithstanding the requirements of confidentiality contained in this section, the federal Defend Trade Secrets Act of 2016 immunizes you against criminal and civil liability under federal or state trade secret laws for your disclosure of trade secrets that is made i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law; ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or iii) to your attorney for use in a lawsuit alleging retaliation for reporting a suspected violation of law, provided that any document containing the trade secret is filed under seal and you do not otherwise disclose the trade secret, except pursuant to court order.

						
		Notwithstanding the requirements of confidentiality contained in this section, the federal Defend Trade Secrets Act of 2016 immunizes you against criminal and civil liability under federal or state trade secret laws for your disclosure of trade secrets that is made i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law; ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or iii) to your attorney for use in a lawsuit alleging retaliation for reporting a suspected violation of law, provided that any document containing the trade secret is filed under seal and you do not otherwise disclose the trade secret, except pursuant to court order.

You further understand and agree that, unless you have prior written consent from P&G, you will not engage in any activity or provide any services for a period of three (3) years following your Last Day of Employment in connection with the manufacture, development, advertising, promotion or sale of any product which is the same as, similar to, or competitive with any products of P&G or its subsidiaries (including both existing products as well as products in development which are known to you, as a consequence of your employment with P&G):

For the purposes of this section, it shall be conclusively presumed that you have knowledge or information to which you were directly exposed through the actual receipt of memos or documents containing such information or through actual attendance at meetings at which such information was discussed or disclosed. The provisions of this section are not in lieu of, but are in addition to, your continuing obligation to not use or disclose P&G’s trade secrets and confidential information known to you until any particular trade secret or confidential information becomes generally known (through no fault of yours). Information regarding products in development, in test market or being marketed or promoted in a discrete geographic region, which information P&G is considering for a broader use, shall not be deemed generally known until such broader use is actually commercially implemented. Also, “generally known” means known throughout the domestic United States industry or, if you have job responsibilities outside of the United States, the appropriate foreign country or countries’ industry.

If any restriction in this section is found by any court of competent jurisdiction or arbitrator to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it will be modified and interpreted to extend only over the maximum period of time, range of activities or geographic area so that it may be enforceable. 

As a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, you are also bound by the terms of Article F – Restrictions & Covenants of those plans, which are incorporated herein by reference.  

						
		If you are a participant in the Procter & Gamble 2019 Stock and Incentive Compensation Plan and the Procter & Gamble 2014 Stock and Incentive Compensation Plan, you are also bound by the terms of Article 6 – Restrictions and Covenants of this plan which are incorporated herein by reference.
	Non-Solicitation
	You acknowledge, as a participant in the Procter & Gamble 2019 Stock and Incentive Compensation Plan, the Procter & Gamble 2014 Stock & Incentive Compensation Plan, the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Plan, the Procter & Gamble 1992 Stock Plan, and/or the Gillette Company 2004 Long-Term Incentive Plan that you are bound to comply with the Plans’ non-solicitation obligations. Specifically, you agree that you will not, at any time following your Employment Separation Date, attempt to directly or indirectly induce any employee of P&G or its affiliates or subsidiaries to be employed or perform services elsewhere or attempt directly or indirectly to solicit the trade or business of any current or prospective customer, supplier or partner of P&G or its affiliates or subsidiaries.

	Acknowledgements and Affirmations:	Subject to the “Governmental Agencies” portion of the “Release of Claims – Including Age Discrimination and Employment Claims” above, you affirm that you have not filed, caused to be filed, or presently are a party to any claim against P&G. 

You affirm that you have been paid and/or have received all compensation, wages, bonuses, commissions, and/or benefits which are due and payable as of the date you sign this Agreement. To the extent that you are required to report hours worked, you affirm that you have reported all hours worked as of the date you sign this Agreement.  

You affirm that you have been granted any leave to which you were entitled under the Family and Medical Leave Act or related state or local leave or disability accommodation laws.

You further affirm that you have no known workplace injuries or occupational diseases that have not been reported.

	Assignment of Intellectual Property:	You will promptly and fully disclose, transfer and assign to P&G all inventions and any other intellectual property (collectively “Intellectual Property”) made or conceived by you during your employment with P&G.  You agree to fully cooperate in executing any papers required for establishing or protecting the Intellectual Property and for establishing P&G’s ownership, even if such cooperation is necessary after your Last Day of Employment.

						
	Return of P&G Property:
	You agree that on or before your Last Day of Employment, you will return to P&G in good condition all of its equipment, materials and information that were in your possession, custody or control (including, but not limited to, computers, files, documents, credit cards, keys and identification badges). You further agree that you will provide your manager with all passwords to P&G electronic communication and data systems before your Last Day of Employment. You further agree that on or before your Last Day of Employment, you will return or if directed to do so by your immediate manager, delete (i.e., destroy all copies of) any and all P&G confidential, proprietary or trade secret information you have maintained in your possession, custody, or control in paper, electronic and/or digital formats, including but not limited to, any such confidential, proprietary, or trade secret information (e.g., files, documents, etc.) that you may have electronically or digitally processed or stored on P&G-issued or on personally-owned or maintained digital devices and/or service accounts. Such digital devices and/or service accounts may include, but are not limited to desktop and laptop computers, notebooks, tablets, iPads, mobile phones, smartphones, personal digital assistants (PDAs), USB and flash drives, external hard drives, CDs, DVDs, and/or external file processing or storage provided by cloud service providers such as box.net, dropbox, Google docs, etc.

	Ethics Compliance:
	Subject to the “Governmental Agencies” portion of the “Release of Claims – Including Age Discrimination and Employment Claims” above, you agree that you provided P&G all information known to you regarding any violations of the Procter & Gamble Worldwide Business Conduct Manual and/or any other violations of P&G policy or the law.

						
	Agreement to Arbitrate Disputes:
	Resolving any future differences we may have in the courts can take a long time and be expensive. You and P&G therefore agree that the only remedy for all disputes that are not released by this Agreement or that arise out of your employment with or separation from P&G, or any aspect of this Agreement, will be to submit any such disputes (with the exception noted at the end of this section) to final and binding arbitration in accordance with the National Rules for Resolution of Employment Disputes of the American Arbitration Association then in effect.

You and P&G agree that the aggrieved party must send written notice of any claim to the other party by certified mail, return receipt requested. Written notice for P&G will be sent to: Secretary, One Procter & Gamble Plaza, Cincinnati, OH 45202, and to you at the most current address shown for you in P&G’s records. The arbitrator will apply Ohio law. At your written request, P&G will reimburse you for all fees and costs charged by the American Arbitration Association and its arbitrator to the extent they exceed the applicable fees and costs that would have been charged by a court of competent jurisdiction had your claim been filed in court.

There is one exception to this section. P&G may seek injunctive relief in any court of competent jurisdiction if it has reason to believe that you have violated or are about to violate (1) the terms of the “Confidential, Proprietary, Trade Secret Information & Period of Non-Competition” section above, or (2) if you are a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, the terms of Article F – Restrictions & Covenants of those plans or (3) if you are a participant in the 2014 Stock and Incentive Compensation Plan, the terms of Article 6 – Restrictions & Covenants of those plans.

	Severability:
	If any court of competent jurisdiction or arbitrator should later find that any portion of this Agreement is invalid, that invalidity will not affect the enforceability of any other portion of this Agreement.

	Employment References:
	You understand that P&G’s historical policy is to not provide employment references to prospective employers. However, P&G is willing to waive that policy in your case on the following basis: You authorize your manager or human resources representative to provide an employment reference upon written or verbal request. In return, you release any claim against P&G and will not bring a lawsuit in court against P&G based upon that employment reference (or lack thereof). You agree that you will refer all reference inquiries to your manager or human resources representative only. You further understand that all disputes regarding employment references or the lack thereof must be resolved through the arbitration process described above.

						
	No Reliance:
	This Agreement sets forth the entire agreement between you and P&G and fully supersedes any prior agreements or understanding between the parties except that if you are a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, the terms of Article F – Restrictions & Covenants of those plans remain in full force and effect and are incorporated herein by reference and if you are a participant in the Procter & Gamble 2019 Stock and Incentive Compensation Plan or the Procter & Gamble 2014 Stock and Incentive Compensation Plan, the terms of Article 6 – Restrictions & Covenants of those plans remain in full force and are in effect and are incorporated herein by reference. In deciding to accept this Agreement, you agree that you have not relied upon any statements or promises by P&G, its managers, agents or employees, other than those set forth in this Agreement. No other promises or agreements concerning the matters described in this Agreement shall be binding unless in a subsequent document signed by these parties

	Your Attorney:
	You acknowledge that you have been and hereby are advised to consult with legal counsel before accepting this Agreement and have either done so or have voluntarily declined to do so.

	Timing for Acceptance or Revocation:
	You have forty-five (45) calendar days in which to consider this Agreement in which you waive important rights, including those under the Age Discrimination in Employment Act of 1967. If you choose to sign this Agreement, please do so by indicating your acceptance of this Agreement with your electronic signature in P&G’s electronic system. We advise you to consult with an attorney of your choosing prior to signing this Agreement. Further, you may within seven (7) calendar days following the date you sign this Agreement, cancel and terminate it by giving written notice of your intention to revoke the Agreement to your immediate manager, and by returning to P&G any remuneration or benefits that have been advanced to you in anticipation of your not revoking your agreement and to which you are not entitled. If notice of your revocation is mailed, it must be postmarked within seven (7) calendar days after you sign this Agreement.
You agree that any modifications, material or otherwise, made to this Agreement, do not restart or affect in any manner the original up to forty-five (45) calendar day consideration period.

The benefits described in this Agreement and pursuant to the summary plan description for the Procter & Gamble Basic Separation Program for U.S. Employees, are the special benefits you will receive by signing this Agreement.  To the extent this Agreement describes benefits under other benefit plans and policies sponsored by P&G, these special benefits are also described in the summary plan descriptions for those plans.  As such, nothing in this Agreement amends or changes the terms of any P&G-sponsored employee benefit plan or policy. 

After your Last Day of Employment, you will no longer be an active P&G employee, which may affect your coverage under those plans and policies.  For example, plans may require that you enroll in Medicare 

to be eligible for coverage.  For more information on how not being an active P&G employee may affect your coverage, please refer to and review the summary plan descriptions for each plan, available at PGOneàLife and Career.

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