Document:

Brian T. McGee offer letter

 Exhibit 10.1 
  
 April 21, 2003 
  
 Brian T. McGee 
 c/o Lexar Media, Inc. 
 47421 Bayside Parkway 
 Fremont, CA 94538 
  
 Dear Brian: 
  
 It gives me great pleasure to make our offer of employment for you to join Lexar Media, Inc., in the position of VP and CFO. In this
capacity, you will be reporting directly to me. As we discussed, this offer will become effective April 24 provided Lexar does not begin a process of corporate strategic discussions on or before April 23. I will call you on April 24 to indicate
the status. Also, due to internal Lexar Media concerns, please treat this offer as confidential until we mutually agree on an announcement process. 
  
 Your base compensation will be $200,000 per year, which will be paid on a bi-weekly basis in accordance and subject to the Company’s normal payroll procedure. In
addition, you will be eligible to participate in Lexar’s MBO based incentive plan. This plan provides you the potential of earning an additional 40% of your base income upon the achievement of mutually agreed upon MBOs. 
  
 As a Lexar employee, you will be eligible to participate in our current employee benefit and
incentive programs as described below. (Note employee benefit programs, including commission and MBO incentive plans, may change from time to time at management’s discretion.) 
  
 1.    Stock: We will recommend to the Board of Directors that you will be granted a stock option of 400,000 shares.
The granted shares will be vested through four years, with 25% vesting on your first anniversary (from your date of hire), and 1/36th of the remaining shares vesting each subsequent month of your employment thereafter. This option, as a formality, is subject to board approval and a detailed description of the vesting schedule will be furnished to you upon approval
and issuance. 
  
 2.    Accelerated vesting: 50% of the
unvested shares granted to you in the stock grant described above shall vest after 9 months following a change of control, or at the time of your termination if you are terminated without cause due to a change of control. 
  
 3.    Vacation: Your vacation benefits will begin at 3.69 hours every two
weeks. This equals to 12 days of vacation per year in the first 3 years. 
  
 4.    Medical, Savings Plan and Miscellaneous: Medical, dental, long-term disability, life and vision insurance, are included in the benefit package that Lexar offers. In addition to your basic health care benefits,
Lexar also offers a Flexible Plan and makes a contribution of 2% of your base compensation to the Flex Plan for your benefit. The 2% contribution is used to offset the costs of your benefit choices, including group health plans. Please refer to the
Benefits Summary for eligibility information. Furthermore, Lexar has established a 401K plan in which you will be eligible to participate on your hire date. 

 5.    Employment Relationship: Your employment with Lexar shall be AT WILL, meaning that either party
may terminate the employment relationship at any time and for any reason. However, in the event that Lexar Media terminates your employment other than for cause, you will be entitled to receive up to six (6) months of your annual salary
compensation, in the form of continuing bi-weekly payments, payable for up to six (6) months or until you commence new full-time employment, whichever comes first. 
  
 This offer letter, and the “‘Employee Nondisclosure and Invention Assignment Agreement”, constitute the entire and exclusive
agreement between Lexar and you, concerning your employment with Lexar and it may not be modified, altered or amended, either expressly or implied, unless in writing signed by you and approved by President or Board of Directors at Lexar. 

 
 In the event of a dispute arising under or related to this agreement, including any
termination of your employment under this agreement, you or Lexar may initiate for arbitration under the administration of the American Arbitration Association (“AAA”). Any Arbitration hearing will be held in the vicinity of the Lexar
location where you last performed services and will be held in accordance with the Employee Dispute Resolution rules of the AAA, within 60 calendar days of such filing or as may be extended upon the consent of the parties or their counsel. The
arbitration shall be binding on both parties and may be entered as a judgment in any court of competent jurisdiction. Each party shall bear its own costs of arbitration including attorneys fees, unless you prevail in whole or in part, in which case
Lexar will pay your costs of arbitration including reasonable attorney fees, pro-rated to the extent you prevail, and such shall be part of the award in the arbitration. By signing this agreement, you expressly agree that any employment related
claim against Lexar Media, Inc. must be filed within six months from the date of your employment termination. 
  
 For purposes of federal immigration law, you will be required to provide Lexar with documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us
within three (3) business days of your hire date, or our employment relationship with you may be terminated. 
  
 Please indicate your acceptance of this offer, by returning one copy of this letter with your signature, and a start date, at your earliest convenience. This offer will remain valid until May 1, 2003. We are looking
forward to your acceptance of our offer and having you join the Lexar Media Team. 
  
 Sincerely, 
  
 /s/    Eric Stang 
  
 Eric Stang 
 Director, President and CEO 
  
 I accept the terms
of this offer and will report to work on: May 19, 2003 
  

	/s/    Brian McGee	 	April 24, 2003
	

	Brian McGee	 	DateSeparation of Agreement and Release

 Exhibit 10.1 
 SEPARATION AGREEMENT & RELEASE 
  
 MUST
BE RECEIVED BY Mark W. Krivoruchka, HUMAN RESOURCES DEPARTMENT, ON OR BEFORE June 6, 2003, by 4:30 p.m. C.S.T. 
  

	 	  	TO BE COMPLETED BY                             
 Only
		
	 (a)
	  	RECEIVED
                                       
 
		
	 	  	    Date            
Initials                        

  
 In consideration for the benefits
listed in the document entitled, “Separation Benefits—May 20, 2003” and attached to this Separation Agreement & Release, I, Keith G. Minton, voluntarily agree as follows: 
  

	1.	 	I, on behalf of myself, heirs, administrators, assigns and successors, release the Parties Released (as defined in paragraph 4) from any and all liability whatsoever for all claims,
demands, and causes of action of every nature affecting me, which I may have or ever claim to have arising out of my employment by The Hoover Company, The Hoover Company (Sales), Maytag Corporation, its divisions, companies and subsidiaries
(collectively referred to as the “Company”) including, but not limited to my recruitment, selection, retention, payment of compensation, employee benefits or retirement, with the exception of: 

  

	 	(a)	 	My rights under the Maytag Corporation Employees Retirement Plan and Salary Savings Plan (including E.S.O.P.), which have accrued through the end of my employment with the Company;
and 

  

	 	(b)	 	Rights or claims that arise after the date this Separation Agreement and Release (“Release”) is signed or rights that cannot be waived by law. 

  

	2.	 	Without limiting the generality of Section 1, I release the Parties Released from all claims, demands, and causes of action which were or could have been asserted under any legal
theory, statute or common law whatsoever, including, but not limited to, breach of any express or implied contract (whether intentional or otherwise); tort (whether negligent, reckless, intentional or otherwise); violation of public policy;
violation of any federal, state or local law, regulation or ordinance (including, but not limited to, the Civil Rights Acts of 1866, 1870, and 1871, as amended; Title VII of the Civil Rights Act of 1964, as amended; the Fair Labor Standards Act; the
Equal Pay Act of 1963, as amended; Executive Order 11246; the Americans with Disabilities Act of 1990, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Worker Adjustment and Retraining Notification Act of 1988, as
amended; the Family and Medical Leave Act of 1993, as amended; all state and local civil rights or other employment-related laws of the state of my residence, the state and local civil rights laws of Iowa, the location of Maytag Corporation
headquarters; and any other United States federal, state or local laws. 

  

	3.	 	Without limiting the generality of Section 1, I also release the Parties Released from all claims, demands, and causes of action which could have been asserted under the Age
Discrimination in Employment Act (“ADEA”) of 1967, as amended, I warrant that I have been advised to consult with an attorney prior to executing this Release and that this Agreement represents my knowing and voluntary waiver of all claims
that might arise under the ADEA through and including the date this Separation Agreement & Release is executed. 

	4.	 	The Parties Released are the Company; its predecessors, successors, divisions, subsidiaries, committees, affiliates, and parent corporations; the insurers, administrators, trustees
and fiduciaries of any employee benefit plan maintained by or on behalf of any of the foregoing; the officers, directors, employees and agents of any of the foregoing; and all other persons, firms and corporations acting on behalf of or on
instructions from the Company. 

  

	5.	 	Without limiting the generality of Section 1, I understand and agree that I am waiving my right to all relief based on any claim of any type whatsoever arising out of or related to
my employment or separation from employment with the Parties Released. If any claim is made by me or someone on my behalf with a state, federal or local civil rights agency such as the Equal Employment Opportunity Commission (“EEOC”), I
agree to indemnify the Parties Released for any monies I (or the EEOC on my behalf) receive as a result of such claim. 

  

	6.	 	Without limiting the generality of Section 1, I acknowledge and agree that my release of claims extends to any claims which I may have against the Parties Released for
attorney’s fees, expenses and court costs (if any). I acknowledge that I am solely responsible for paying my attorney’s fees, expenses and court costs (if any). 

  

	7.	 	Without limiting the generality of Section 1, I understand and agree that my release extends to all claims which I do not know or suspect to exist in my favor and which, if known at
the time of executing this Separation Agreement & Release, may have materially affected this settlement with the Parties Released. 

  

	8.	 	I have previously received: 

  
 “Description of the Retirement Enhancement Program” memo 
 “Personalized Statement for the Retirement Enhancement Program” 
 Attachment A to Separation Agreement & Release 
 Attachment B to Separation Agreement & Release 
  
 B. CONFIDENTIALITY AND COOPERATION 
  
 As additional consideration for the benefits which I will receive in accordance with the terms and conditions of this agreement, I agree to
not disclose, use, publish, or authorize anyone else to disclose, use or publish, any confidential or secret technical or non-technical business information pertaining to the Company, including any of their operations, without the express written
consent of the Company. I further agree to immediately return to the Company, unless otherwise agreed in writing, all confidential information and documents in whatever media or form in my possession or under my control. Confidential Information
includes, but is not limited to, short and long-range plans, product design and development plans, pricing and marketing strategies, promotional programs, manufacturing equipment and processes, sales and distribution networks, organization structure
and personnel, and proprietary or confidential information of third parties which is protected by non-disclosure agreements between the Company and any third party. 
  
 I further agree that the terms and provisions of this Agreement are confidential, as well as the circumstances and discussion leading to
this Agreement, and shall not be communicated in any manner to any person except to my spouse, attorney, tax advisor(s) or as required by court order. My spouse, attorney, and tax advisor will be advised that these matters are confidential as well.
I will make myself available, as may be requested, at mutually convenient times and places with respect to pending and future business or legal matters, arbitrations, governmental investigations, or other dispute resolutions relating to matters that
arose during my employment. I will be reimbursed for all reasonable 

 out-of-pocket expenses and costs I may incur as a result of providing this assistance, upon receipt of proper
documentation. 
  
 C. NON-COMPETE 
  
 Because I am privy to the foregoing Confidential Information and as additional consideration
for the receipt of the benefits outlined in the Attachment, I agree to not work as an employee, contractor, consultant, or otherwise for any competitor of the Company in any capacity similar to my employment with the Company or receive compensation
from any such competitor prior to the end of one year following the end of my employment with the Company, unless the Company consents to such work in writing, which consent will not be unreasonably withheld. 
  
 D. CONCLUSION 
  

	1.	 	I understand that execution of this Separation Agreement & Release does not relieve me of my obligation to honor and to abide by all terms of any prior agreements with the
Company including but not limited to agreements regarding Confidential Information, trade secrets, copyright, and covenants not to compete. I understand that any such prior agreements will remain in effect upon my execution of this Separation
Agreement & Release and that this Separation Agreement & Release only supersedes or replaces such prior agreements to the extent a provision or provisions herein are inconsistent with such prior agreements. 

  

	2.	 	This Separation Agreement & Release shall be subject to the substantive laws (without regard to the conflicts of laws provision) of the State of Iowa. I hereby consent to the
personal jurisdiction of any state or federal court within the same state as the particular Company facility at which I last worked or was last based. I also hereby waive any rights I may have to challenge the assertion of personal jurisdiction over
me by a court in that forum. 

  

	3.	 	In case any portion of this Separation Agreement & Release shall be held to be invalid or unenforceable, the same are intended to be severable, shall be construed to be
severable, and any such invalidity or unenforceability shall neither defeat nor impair the remaining provisions of this Separation Agreement & Release. 

  

	4.	 	I agree that neither the existence of this Separation Agreement & Release nor anything contained in this Separation Agreement & Release shall constitute an admission of any
liability on the part of the Parties Released; any and all such liability is expressly denied. 

  

	5.	 	I HAVE BEEN GIVEN A PERIOD OF FORTY-FIVE DAYS WITHIN WHICH TO CONSIDER THIS SEPARATION AGREEMENT & RELEASE. I UNDERSTAND THAT I CAN REVOKE THIS AGREEMENT BY SENDING WRITTEN
NOTICE THAT I AM REVOKING MY RELEASE OF CLAIMS TO THE COMPANY’S HUMAN RESOURCE DEPARTMENT WITHIN SEVEN (7) CALENDAR DAYS AFTER I SUBMIT THIS SEPARATION AGREEMENT & RELEASE TO THE COMPANY. WRITTEN NOTICE OF REVOCATION MUST BE RECEIVED BY THE
COMPANY’S HUMAN RESOURCES DEPARTMENT WITHIN THE SEVEN (7) CALENDAR DAY PERIOD. IF I DO NOT REVOKE THIS AGREEMENT IT WILL BE EFFECTIVE IN FULL AFTER THE SEVEN (7) DAY PERIOD HAS EXPIRED. 

  

	6.	 	I AGREE THAT NO REPRESENTATION OF ANY FACT OR OPINION HAS BEEN MADE BY THE PARTIES RELEASED TO INDUCE ME TO SIGN THIS SEPARATION AGREEMENT & RELEASE, EXCEPT AS MADE IN THIS
SEPARATION AGREEMENT & RELEASE, AND I AGREE THAT THE PARTIES RELEASED HAVE MADE NO ADMISSIONS OF LIABILITY OF ANY SORT. 

 I HAVE READ THIS SEPARATION AGREEMENT & RELEASE, I UNDERSTAND ITS TERMS, AND I FREELY AND VOLUNTARILY
SIGN IT. NO ONE HAS MADE ANY PROMISES OR REPRESENTATIONS TO ME OTHER THAN WHAT IS REFERENCED IN THIS AGREEMENT. 
  
 THIS AGREEMENT INCLUDES A RELEASE. I ACKNOWLEDGE THAT THE COMPANY IS ADVISING ME TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS AGREEMENT.

  

	 Signed this 21st day of May, 2003

	
	 /s/ Keith G. Minton

  
 Attachment: 
  

	1.	 	Separation Benefits Schedule—May 20, 2003 

 SEPARATION BENEFITS SCHEDULE—May 20, 2003 
  
 This memorandum contains the terms and conditions under which your employment with Maytag
Corporation will be terminated if you execute the enclosed Separation Agreement and Release. 
  
 LAST DAY AT WORK 
  
 Your assigned
responsibilities as an employee of Maytag Corporation will be discontinued effective May 31, 2003. That date is the effective date of separation. 
  
 Retirement Enhancement Program Benefits—You will receive all the benefits under the Hoover Salaried Employee Retirement Enhancement Program (REP), a program
that was offered to all eligible employees (265 employees) on April 4, 2003. These benefits are outlined in a memo to you dated April 4, 2003 from Mr. Schiltz. Based on your salary and years of service (34.9 years), the enhanced benefit of this
Hoover-wide program is $1,912.40 per month, if you choose the 50% Joint and Survivor Annuity. You may choose other equivalent options under the other payment alternatives as well. 
  
 Separation Benefits—Within two weeks after receipt of the signed Separation Agreement and Release, and should you not
revoke your decision to sign within seven days, you will be paid a lump sum of $400,000 which represents an amount in lieu of base salary, Annual Incentive Compensation and Performance Incentive Award Plans. This amount will be subject to applicable
withholding taxes and paid out in the following manner: (a) $152,000 in June 2003; (b) $96,000 in January 2004; and (c) $152,000 in January 2005. 
  
 Savings/Stock Plans—You will have the opportunity to request disbursement of all sums from the Maytag Corporation Salary Savings Plan, the Employee
Stock Ownership Plan, the Employee Stock Purchase Plan, the Maytag Deferred Compensation Plan, or other similar plans (such as the Maytag Stock Option Award Plan) as applicable under the particular plan requirements. Review these Plans carefully to
determine applicable deadlines. 
  
 BENEFITS 
  
 Medical—See the Hoover Salaried Employee Retirement Enhancement Program
regarding medical benefits. In addition, Maytag will pay you a lump sum payment of 130% of monthly dental COBRA coverage for you and your wife multiplied by twelve (12) months. If you desire COBRA continuation of dental coverage, it is your
responsibility to apply for COBRA by making the necessary notifications to the Human Resources Benefits Department and paying the appropriate premiums. Information will be contained in a letter you will receive from Benefits after your
separation date about how to elect COBRA coverage. 
  
 Long-Term
Disability—Long-Term Disability insurance terminates on your last day at work. 
  
 Life Insurance—Your group life insurance will be discontinued effective May 30, 2003. You should contact Ray Benning at 888-244-4947 to review your options with regard to your Corporate-sponsored
life insurance program. 
  
 Attachment 1 
  
 Pension—See REP memo. 

 Vacation—You will also be paid for vacation accrued, but unused, through the effective date of
separation. 
  
 OTHER PROVISIONS 
  
 Outplacement Services—Maytag will pay for the services of an outplacement
consulting firm of your choice to assist you in your search for employment. Maytag will pay reasonable fees charged by the consulting firm, up to $25,000, payable directly to the consultants. 
  
 Financial Counseling—Maytag will pay up to $10,000 of fees charged by a
qualified financial consultant. These fees must be incurred no later than December 31, 2003. These fees may be taxable income to you. 
  
 Tax Preparation—You will be provided tax preparation service by a firm of your choice for the year 2003 at Maytag’s expense. This will be taxable income
to you. 
  
 Consigned Appliances—You may retain the appliances
consigned to you under the Executive Appliance Test Program at no charge. 
  
 Legal Fee Expenses—Reasonable legal fees incurred in connection with addressing retirement issues will be paid directly to the provider, up to a maximum of $7,000. 
  
 Office—Maytag will provide you an external office with administrative
support for three (3) months following the effective date of your retirement. This office will be located in the North Canton area, but not at the Hoover offices. Maytag will reimburse documented office expenses up to a total of $2,000 over a
3-month period, to be concluded by 12/31/03. 
  

	
	 /s/ Mark W. Krivoruchka

	 Mark W. Krivoruchka

	
	 /s/ Keith G. Minton

	 Acknowledge/Received—Keith G. Minton

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]