Document:

Exhibit 10-n

AT&T PENSION BENEFIT

MAKE UP PLAN NO. 1

Effective:  January 1, 2005

Restated December 31, 2008

Amended December 31, 2016

TABLE OF CONTENTS

SECTION 1:  Purpose and History..........................................................................................................................................................................................................................................1                

1.1. Purpose.................................................................................................................................................................................................................................................................1

1.2. History..................................................................................................................................................................................................................................................................1

SECTION 2:  Eligibility and Participation.............................................................................................................................................................................................................................2

2.1. Eligibility..............................................................................................................................................................................................................................................................2

2.2. Construction of Eligibility Provisions..................................................................................................................................................................................................................3

2.3. Loss of Eligibility.................................................................................................................................................................................................................................................3

2.4. Ineligible Participant.............................................................................................................................................................................................................................................3

SECTION 3:  Amount of Plan Benefits....................................................................................................................................................................................................................................3

3.1. Amount of Plan Benefits.......................................................................................................................................................................................................................................3

3.2. Participants in Predecessor Plans..........................................................................................................................................................................................................................5

SECTION 4:  Payment of Plan Benefits...................................................................................................................................................................................................................................5

4.1. Distribution of Plan Benefits.................................................................................................................................................................................................................................5

4.2. Form of Plan Benefits...........................................................................................................................................................................................................................................5

4.3. Converting Form of Benefit..................................................................................................................................................................................................................................6

SECTION 5:  General and Administrative Provisions...........................................................................................................................................................................................................6

5.1. Plan Administration...............................................................................................................................................................................................................................................6

5.3. Notices...................................................................................................................................................................................................................................................................7

5.4. Applicable Laws....................................................................................................................................................................................................................................................7

5.5. Gender and Number...............................................................................................................................................................................................................................................7

5.6. Benefits Determined as of Termination of Employment.......................................................................................................................................................................................7

5.7. Benefits Under Predecessor Plans..........................................................................................................................................................................................................................7

5.8. Plan Not Contract of Employment.........................................................................................................................................................................................................................7

5.9. Benefits May Not Be Assigned or Alienated.........................................................................................................................................................................................................7

5.10. Beneficiary Designation...................................................................................................................................................................................................................................8

5.11. Amendments and Termination.........................................................................................................................................................................................................................8

5.12. Tax Withholding...............................................................................................................................................................................................................................................8

5.13. Offsets and Overpayments...............................................................................................................................................................................................................................8

Appendix A:  Predecessor Plans

 

 

 

AT&T PENSION BENEFIT MAKE UP PLAN NO. 1

SECTION 1:  Purpose and History

1.1. Purpose. The primary purpose of the AT&T Pension Benefit Make Up Plan No. 1 (the "Plan") is to supplement the benefits a Participant is entitled to receive under a pension plan that is qualified under Code Section 401(a) and is sponsored by AT&T Inc. ("AT&T" or the "Company") or one of its Subsidiaries (collectively, the "Pension Plans"). This Plan recognizes compensation earned by an individual who is eligible to participate in this Plan as provided in Section 2 (a "Participant") that is not recognized in the determination of benefits under the Participant's Pension Plan, and this Plan is intended to make up benefits that would otherwise be lost because of such Pension Plan limitations.

The Plan is intended to provide deferred compensation benefits by recognizing compensation earned by a Participant that is in excess of the amount that is recognized under Section 401(a)(17) of the Internal Revenue Code of 1986, as amended (the "Code"), and to provide benefits to the extent such Participant's Pension Plan benefits are limited by the provisions of Code Section 415.

1.2. History.  The Plan is effective as of January 1, 2005, and constitutes an amendment and restatement of the plans listed in Attachment A (the "Predecessor Plans"). AT&T and companies whose equity interests are owned 100%, directly or indirectly, by AT&T ("Subsidiary") sponsored the Predecessor Plans for the benefit of their respective eligible employees. No additional benefits shall accrue under the Predecessor Plans after December 31, 2004, and benefits of Participants who terminate employment on or after January 1, 2005 shall be paid solely under this Plan. The Predecessor Plans were intended to supplement participants' Pension Plan benefits by (i) recognizing compensation that is not eligible to be recognized for purposes of calculating Pension Plan benefits, either as a result of statutory limitations or Pension Plan limitations, and/or (ii) providing benefits in excess of the limitations of Code Section 415. This Plan is intended to aggregate all of such Predecessor Plans and provide substantially similar benefits, on a going forward basis. Further, this Plan is intended to satisfy the requirements of Code Section 409A, effective with respect to amounts deferred after December 31, 2004. During the period from January 1, 2005 to December 31, 2008, the Plan has been operated in good faith compliance with the provisions of Code Section 409A, Internal Revenue Service Notice 2005-1, and the final Treasury Regulations for Code Section 409A, and any other generally applicable guidance published in the Internal Revenue Service Bulletin with an effective date prior to January 1, 2009. On or after January 1, 2009, this Plan shall be interpreted and construed consistent with the requirements of Code Section 409A and all applicable guidance issued thereunder.

SECTION 2:  Eligibility and Participation

  

2.1. Eligibility. Benefit accrual in this Plan is limited to each employee of any Subsidiary of AT&T who:

	
(a)

	
participates in a Pension Plan;

	
(b)

	
is a General Management level or above employee;

	
(c)

	
is not eligible for benefits under the 2005 AT&T Supplemental Employee Retirement Plan;

	
(d)

	
receives types of compensation that are used to determine the employee's Pension Plan benefit (e.g., base salary or short term incentive compensation) in any calendar year, but that compensation is not recognized for purposes of determining such employee's Pension Plan benefit, or whose Pension Plan benefit is limited by Code Section 415; and

	
(e)

	
is not an employee of a company acquired by AT&T on or after September 1, 2005 unless designated as eligible by AT&T's highest ranking officer specifically responsible for human resource matters; provided, however, effective January 1, 2009, this section 2.1(e) shall not apply to any employee who satisfies the eligibility provisions of this section 2.1 (a), (b), (c), and (d) and is employed by AT&T Inc. or any of its Subsidiaries on or after January 1, 2009, other than an employee who is a participant in the BellSouth Corporation Supplemental Executive Retirement Plan, the AT&T Corp. Nonqualified Pension Plan, or the AT&T Corp. Excess Pension Plan. Further provided, however, any employee of a company acquired by AT&T on or after January 1, 2017 shall not participate in this Plan unless designated by the SEVP-HR. Notwithstanding the foregoing, and for purposes of clarity, effective July 24, 2015, employees who participate in the DIRECTV Pension Plan shall not be eligible to participate in the Plan.

		(f)	
Additionally, an employee who (i) meets the requirements of paragraphs (a), (b), (c), and (d), (ii) is employed by AT&T Inc. or any of its Subsidiaries on or after January 1, 2009 and (iii) either (x) participates in the BellSouth Corporation Supplemental Executive Retirement Plan ("BLS SERP") solely with a totally frozen BLS SERP benefit following a job demotion into an ineligible position prior to December 31, 2011 or (y) previously participated in the BLS SERP but whose annualized benefit under the BLS SERP as of December 31, 2011 was $0 and is not due any benefit under the BLS SERP pursuant to the amendment to Section 4.(a)(I)(A) of such plan effective December 31, 2011, may participate in the Plan.

 

 

 

2.2. Construction of Eligibility Provisions. The eligibility provisions of Section 2.1, above, shall be interpreted in the broadest possible sense in order that this Plan can recognize all base salary and short term incentive compensation, whenever earned, for the purpose of making up any benefit that would otherwise be lost due to the fact that the Pension Plan is unable to recognize any such compensation in determining retirement benefits.

 

2.3. Loss of Eligibility. In the event that any Participant ceases to satisfy the eligibility conditions of Section 2.1, such Participant shall nevertheless continue to be eligible to receive benefits under this Plan, however, no additional benefits shall accrue under the Plan unless and until he or she shall re-attain eligibility hereunder.

2.4. Ineligible Participant.  Notwithstanding any other provision of this Plan to the contrary, if any Participant is determined not to be "in a select group of management or highly compensated employees" within the meaning of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or the regulations thereunder, such Participant shall not be eligible to continue to accrue a benefit under this Plan on or after such date to the extent benefits hereunder are attributable to compensation in excess of the amount under Code Section 401(a)(17) and not attributable to the limitations imposed by the provisions of Code Section 415.

2.5 No Duplication of Benefits.  Notwithstanding any provision of this Plan to the contrary, if a Participant ceases to accrue benefits under this Plan and becomes eligible to receive the equivalent of his/her benefit under this Plan pursuant to the Pension Benefit Make Up Plan No. 2, to the extent such benefit is paid pursuant to such other plan, no duplication of such payment shall be made pursuant to this Plan.

SECTION 3:  Amount of Plan Benefits

3.1. Amount of Plan Benefits. Subject to the terms and conditions of the Plan, the Plan benefits payable to, or on account of, a Participant under the Plan as of any date shall be an amount as described in the paragraphs below. A participant's Pension Plan Program is one of the non-bargained programs that are defined and operated as part of the AT&T Pension Benefit Plan: Southeast Management Program, AT&T Legacy Management Program, Management Cash Balance Program, Nonbargained Program, and Wireless Program. The Plan benefit is equal to:

(a) the amount of the Participant's benefit under the applicable Pension Plan Program and period of employment in which he or she actively participates (i.e., accrues benefits) on the date of his or her termination of employment that would have been payable to or on account of the Participant under such Pension Plan Program as of that date, determined without regard to the limitations imposed by either Code Section 401(a)(17) or 415 and determined as if all types of compensation that are used to determine the employee's Pension Plan benefit (e.g., base salary and short-term incentive compensation that the Participant is eligible to receive) were recognized for purposes of calculating such amount;

 

 

 

	
(i)

	
if the Participant is also eligible for a separate frozen benefit under another Pension Plan Program for a prior period of employment, such amount is not included in the amount determined under this subsection (a); except in the following case:

	
(ii)

	
if the Participant's service was bridged specifically due to the Sixth Amendment to the AT&T Pension Benefit Plan, where such amendment was approved in November 2010 and effective January 1, 2010, in cases where a Pension Plan participant transferred employment from the Legacy AT&T company or Legacy BellSouth company to Cingular Wireless, after the joint venture formation of Cingular and prior to AT&T's acquisition of BellSouth, then the total Pension Plan benefit (from the frozen separate Pension Plan Program and current Pension Plan Program) will be included in the amount determined under this subsection (a);

REDUCED BY

(b) the amount of the Participant's benefit actually paid under the applicable Pension Plan Program and period of employment in which he or she actively participates (i.e., accrues benefits) on the date of his or her termination of employment;

	
(i)

	
if the Participant is also eligible for a separate frozen benefit under another Pension Plan Program for a prior period of employment, such amount is not included in the amount determined under this subsection (b); except in the following case:

	
(ii)

	
if the Participant's service was bridged specifically due to the Sixth Amendment to the AT&T Pension Benefit Plan, where such amendment was approved in November 2010 and effective January 1, 2010, in cases where a Pension Plan participant transferred employment from a Legacy AT&T company or Legacy BellSouth company to Cingular Wireless, after the joint venture formation of Cingular and prior to AT&T's acquisition of BellSouth, then the total Pension Plan benefit (from the frozen separate Pension Plan Program and current Pension Plan Program) will be included in the amount determined under this subsection (b).

The amount determined under subsection (a), above, shall be calculated in the same manner that is used for calculating the amount under subsection (b), using the benefit calculation methodology and the factors in effect under such Pension Plan as of the date of his termination of employment; the only difference being the amount of compensation used for calculating such amount.  

 

 

 

The Plan benefit is FURTHER REDUCED BY:

(c) amount of a BLS SERP participant's frozen BLS SERP benefit.

Notwithstanding the above descriptions, for any Participant who ceased to satisfy the eligibility conditions of Section 2.1(c) due to initial participation in the AT&T Supplemental Employee Retirement Plan on or before December 31, 2008 shall have a Plan benefit equal to the greater of (d) or (e) described below:

	
(d)

	
the amount described by paragraphs 3.1(a), 3.1(b) and 3.1(c) above determined as of the Participant's actual termination-of-employment date.

		(e)	
the amount described by paragraphs 3.1(a), 3.1(b) and 3.1(c) above determined as if the Participant had terminated employment effective December 31, 2008.

3.2. Participants in Predecessor Plans. If a Participant participated in one or more Predecessor Plans prior to becoming a Participant under this Plan, benefits under this Plan shall be no less than the benefits accrued under the Predecessor Plans, and the benefits under this Plan shall be in lieu of all benefits otherwise payable to him under the Predecessor Plans.

SECTION 4:  Payment of Plan Benefits

4.1 Distribution of Plan Benefits.  Benefits hereunder shall be calculated and distributed upon a Participant's termination of employment; provided, however, distribution of Plan benefits of any Participant who is also an officer of the Company shall commence on the sixth month anniversary of such Participant's termination of employment.

4.2. Form of Plan Benefits. Benefits hereunder shall be paid in the form of a lump sum; provided, however, if the amount of the Participant's lump sum benefit exceeds $50,000 as of his termination of employment, the Plan benefit shall be paid in monthly installments over a period of ten (10) years. Notwithstanding the foregoing, with respect to any Participant who, prior to termination of employment ceases to satisfy the eligibility conditions of Section 2.1, the form of such Participant's benefit (lump sum or ten (10) year monthly annuity) shall be determined as of the date such Participant ceases to satisfy the eligibility conditions of Section 2.1.

If benefits are distributed in the form of a monthly annuity for ten (10) years, the monthly payments shall be calculated in the same manner that a financial institution would calculate the monthly payments for a 10-year fixed interest loan.

 

 

Notwithstanding any other provision of this Plan, the benefits of any Participant who was a participant in and accrued benefits under the Cingular Wireless SBC Executive 2005 Transition Pension Make Up Plan (which is a Predecessor Plans) shall have their benefits distributed exclusively in a lump sum.

4.3 Converting Form of Benefit.  For all purposes under the Plan, the lump sum benefit and ten year monthly installment form of benefit shall be the actuarially determined equivalent of one another, as determined by the Plan Administrator in the Plan Administrator's complete and sole discretion, and the amount of such benefits under the Plan shall be determined on the basis of the Participant's age and the rates, tables, and factors which would be utilized to determine such benefit under the Pension Plan as of the date required for making such determination.

SECTION 5:  General and Administrative Provisions

5.1. Plan Administration. The Company shall be the Plan Administrator of the Plan. The Plan Administrator's responsibilities hereunder shall be carried out by its Senior Executive Vice President responsible for Human Resources matters. The authority to control and manage the operation and administration of the Plan shall be vested in the Plan Administrator. The Plan Administrator has the exclusive right and discretion to construe, interpret and apply the provisions of the Plan and the entitlement to benefits under the Plan in accordance with its terms. The Plan Administrator may establish, adopt or revise such rules and regulations as the Plan Administrator may deem necessary or advisable for the administration of the Plan. Any decision made by the Plan Administrator on any matter within the Plan Administrator's discretion is conclusive, final and binding on all persons, and not subject to further review. The Benefit Plan Committee of the Company shall grant or deny claims for benefits under the Plan and authorize disbursements. Adequate notice, pursuant to applicable law and prescribed Company practices, shall be provided in writing to any Participant or Beneficiary whose claim has been denied, setting forth the specific reasons for such denial. The review and appeal procedures for any Participant or Beneficiary whose claim has been denied shall be the same as those procedures set forth in the Pension Plan under which such Participant or Beneficiary is entitled to or received benefits.

5.2. Source of Benefits; Unsecured Creditor. The obligations of the Company under the Plan are solely contractual. Any amount payable under the terms of the Plan shall be paid from the general assets of the Company or a Subsidiary. Alternatively, amounts payable under the terms of the Plan may be paid from one or more trusts that the Company or a Subsidiary might elect to establish, the assets of which will be subject to the claims of the general creditors of the Company or the Subsidiary that created the trust. Participants and their beneficiaries shall have no legal or equitable rights, interest, or claims in any property or assets of the Company or any Subsidiary. Any and all of the Company's or a Subsidiary's assets shall be, and remain, the general, unpledged, unrestricted assets of the Company or any such Subsidiary. The Company's or a Subsidiary's obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company or any such Subsidiary to distribute cash under the Plan in the future. If a Participant's term of employment includes service by two Subsidiaries or by the Company and one or more Subsidiaries, the Company or Subsidiary which last employed the Participant shall be solely responsible for the entire benefit payable under the Plan.

 

 

 

5.3. Notices. Any notice or document required to be given to or filed with the Plan Administrator shall be considered to be given or filed if delivered to the Plan Administrator or mailed by registered mail, postage prepaid, to the Plan Administrator.

5.4. Applicable Laws. The Plan shall be construed and administered in accordance with the laws of the State of Texas, to the extent that such laws are not preempted by ERISA or any other laws of the United States of America.

5.5. Gender and Number. Where the context requires, words in any gender shall include any other gender, words in the singular shall include the plural and the plural shall include the singular.

5.6. Benefits Determined as of Termination of Employment. Except as otherwise specifically provided in the Plan, the right to benefits under the Plan and the amount of benefits of a Participant who has terminated or terminates employment with the Company or a Subsidiary shall be determined in accordance with the provisions of the Plan as in effect immediately prior to that termination of employment.

5.7. Benefits Under Predecessor Plans.  Notwithstanding any provision of this Plan to the contrary, nothing shall reduce or impair the interests of individuals with respect to benefits that are being paid under a Predecessor Plan as of the effective date of this Plan without the consent of the affected Participant. Notwithstanding any provision of this Plan to the contrary, nothing shall reduce or impair the interests of individuals with respect to benefits that are accrued under a Predecessor Plan as of the effective date of this Plan without the consent of the affected Participant; provided, however, benefits accrued as of December 31, 2004 under the terms of a Predecessor Plan shall only be distributed and paid under the terms of Section 4 of this Plan.

5.8. Plan Not Contract of Employment. The Plan does not constitute a contract of employment, and nothing in the Plan or any action taken hereunder shall be construed as a contract of employment or to give any employee or Participant the right to be retained in the employ of the Company or a Subsidiary.

5.9. Benefits May Not Be Assigned or Alienated. Benefits payable to, or on account of, any individual under the Plan may not be voluntarily or involuntarily assigned, pledged, transferred, mortgaged, alienated, conveyed in advance of actual receipt or otherwise encumbered. No such amounts shall be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separation maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant's or any other person's bankruptcy or insolvency. Any such attempted assignments to transfer shall be void. Prior to the death of any Participant, no other person shall have any rights under the Plan with respect to that Participant.

 

 

 

5.10. Beneficiary Designation.  Participants shall have the right to designate a Beneficiary to receive their benefits under the Plan should such Participant die prior to commencement of or complete distribution of benefits hereunder. The AT&T Rules for Beneficiary Designations as may hereafter be amended from time to time (the "Rules"), which Rules are incorporated herein by this reference, shall apply. For purposes of this Plan, "Beneficiary" shall mean any beneficiary designated by a Participant to receive his or her benefits under this Plan in the event of the Participant's death, or as otherwise determined under the Rules to the extent the Participant fails to designate a beneficiary.

5.11. Amendments and Termination. The Plan may be amended or terminated at any time in accordance with the provisions of the AT&T Schedule of Authorizations, as amended from time-to-time, but such amendments or termination shall not adversely affect the rights of any Participant, without his or her consent, to any benefit payable under the Plan to which such Participant has previously become entitled prior to the effective date of such amendment or termination.

5.12. Tax Withholding. All applicable federal, state and local taxes required by law to be withheld shall be deducted from benefits paid under this Plan.

5.13. Offsets and Overpayments.  If any overpayment is made by the Plan for any reason, the Plan shall have the right to recover such overpayment. The Participant shall cooperate fully with the Plan to recover any overpayment and provide any necessary information and required documents. If a Participant entitled to distribution of benefits hereunder owes any amount to AT&T or any Subsidiary, such amount may be withheld from benefits payable hereunder to satisfy such obligation. Any overpayment or Participant debt to AT&T or any Subsidiary may be deducted from future benefits payable to or on behalf of the Participant from this Plan.

  

 

 

Attachment A

Predecessor Plans

	
1.

	
The AT&T Pension Benefit Make Up Plan No. 1, which is also the successor plan, effective January 1, 2000, to the SNET Pension Benefit Plan and, effective January 1, 1999, to the Pacific Telesis Group Excess Benefit Plan.

	
2.

	
Section 4.10.2 of the AT&T Pension Benefit Plan – Non-Bargained Program, which are the 415 Excess Benefit Provisions of such plan.

	
3.

	
The Ameritech Corporate Resource Supplemental Pension Plan, which is a successor to the Ameritech Senior Management Retirement and Survivor Protection Plan and was established by Ameritech Corporation effective as of January 1, 1986, which, in turn was an amendment, restatement and continuation of the following predecessor plans: the Ameritech Management Supplemental Pension Plan, the Ameritech Senior Management Non-Qualified Pension Plan, the Ameritech Mid-Career Pension Plan, and the retirement and survivor benefit provisions of the Ameritech Senior Management Long Term Disability and Survivor Protection Plan.

	
4.

	
The Ameritech Management Supplemental Pension Benefit Plan

	
5.

	
Effective January 1, 2009, The Cingular Wireless SBC Executive Transition Pension Make Up Plan and The Cingular Wireless SBC Executive 2005 Transition Pension Make Up PlanExhibit

Exhibit 10.1

CONFIDENTIAL GENERAL RELEASE AND SEPARATION AGREEMENT

This Confidential General Release and Separation Agreement (“AGREEMENT”) is made and entered into by and between Barry C. Fischetto (“EMPLOYEE”) and Farmer Bros. Co., a Delaware corporation (the “Company”). 

In consideration of the covenants undertaken and releases contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Company and EMPLOYEE agree as follows:

1.    Separation.  EMPLOYEE is hereby separated from employment with Company effective February 13, 2017 (the “Separation Date”).  Company acknowledges EMPLOYEE’s separation pursuant to the covenants, releases, terms, and conditions set forth in this AGREEMENT.

2.    Severance Package.

(a)    Severance Pay.  In consideration for the covenants and releases herein by EMPLOYEE, the Company shall pay EMPLOYEE six months of severance pay (the “Severance Pay”), which amount is determined in accordance with the Company’s Severance Pay Plan set forth by its standard policies and procedures.  The Severance Pay shall be paid in regular installments on the Company’s regular pay dates, commencing on the first regular pay date after the Separation Date that is at least eight (8) days after I sign and return this Agreement and continuing until all installments are paid (the “Severance Period”), Employee’s total Severance Pay shall equal $150,000.00. The Severance Pay shall be subject to normal withholding and any other deductions required by law or previously authorized by EMPLOYEE.  

(b)    Health Insurance.  Health Insurance coverage will continue until the last day of the month in which the Separation Date occurs.  Thereafter, Company shall partially reimburse you for your COBRA coverage under the Company’s health care plan for you for six months; however, the Company’s contribution for such coverage shall be the same percentage of the coverage cost that it would have paid had EMPLOYEE’s employment not terminated.  The Company’s obligations under this paragraph are contingent on EMPLOYEE’s timely election of COBRA coverage; EMPLOYEE’s payment of the COBRA premium; and providing to the Company sufficient documentary proof of such election and payments.  

(c)    Bonuses. A bonus for the 2017 fiscal year based on the applicable Target Award for Fiscal Year 2017, if and to the extent that the Company satisfies its threshold requirements, and the degree of achievement of Company performance goals under the Plan for Fiscal Year 2017 as determined in accordance with the Plan, with individual goals deemed to be achieved at 100% and prorated for the partial fiscal year ending on the Separation Date.

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(d)    Separation Characterization.    EMPLOYEE’s termination shall be referred to as a voluntary resignation.

3.    No Further Obligations.  Except for the obligations expressly set forth herein, Company shall make no further payments or contributions on behalf of EMPLOYEE or EMPLOYEE’s family members, whether for salary, vacation, sick days, life insurance, long term disability insurance, cash profit sharing, tuition reimbursement, deferred profit sharing or for any other compensation or benefits following the Separation Date.  EMPLOYEE shall continue to be entitled to any benefits vested under any Company retirement benefit plan.

4.    Release and Other Covenants of EMPLOYEE.  In consideration for the Severance Pay, other payments and benefits, and other covenants of Company made herein:

(a)    General Release.  EMPLOYEE, on his own behalf and on behalf of his descendants, dependents, spouse, heirs, executors, administrators, assignees and successors, and each of them, hereby releases and forever discharges Company and any and all of its parent, subsidiary, and affiliated corporations, businesses and partnerships, and all of its officers, directors, employees, agents, shareholders, attorneys, insurers, employee benefits plans, past and present, as well as the heirs, executors, administrators, predecessors, successors and assigns (the “RELEASEES”) from and against any and all damages, costs, claims, debts, demands, suits, actions, causes of action, employment benefits, grievances, wages, obligations, debts and liability of any kind or nature whatsoever, including but not limited to attorneys’ fees, whether known or unknown, fixed or contingent, that EMPLOYEE ever had or may now or hereafter have or claim to have or incur as a result of any matter whatsoever from the beginning of time through the date of this AGREEMENT, or based upon the relationship that has heretofore existed between the EMPLOYEE and Company, or arising out of or based upon any act, omission or event which occurred or should have occurred prior to the date of this AGREEMENT.  EMPLOYEE also hereby covenants not to file a lawsuit or participate in a class action lawsuit to assert any claims released by EMPLOYEE pursuant to this AGREEMENT.  This general release includes but is not limited to claims arising out of or in connection with: (i) EMPLOYEE’s employment relationship with Company or the EMPLOYEE’s termination thereof; (ii) any allegation that Company wrongfully or unlawfully terminated, discharged or laid off EMPLOYEE; (iii) any allegation of violation of Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, the Worker’s Adjustment and Retraining Notification Act, the National Labor Relations Act, the Rehabilitation Act of 1973, the Uniform Services Employment and Reemployment Rights Act, the Family and Medical Leave Act of 1993; or any other applicable state, municipal or city ordinance; (iv) any allegation of breach of contract, defamation, intentional or negligent infliction of emotional distress, workplace harassment or discrimination, invasion of privacy, violation of public policy, negligence or any other tort; (v) any allegation of a breach of any contract of employment, express or implied, or of a violation of any Company policy or procedure, of the U.S. Constitution or constitution of any state, or any other law, rule, regulation or ordinance pertaining to employment or the termination of employment; and/or (vi) any other statutory or common law cause of action.  EMPLOYEE acknowledges and affirms that EMPLOYEE is not aware of any conduct, occurrences or facts occurring before or during employment with Company or at any time before the date of 

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this AGREEMENT that would constitute a violation of or give rise to a claim under any statute, common law or legal theory released in this Section 4(a).  The foregoing release does not extend to EMPLOYEE’s vested right(s), if any, to receive any benefit under the terms of any “employee benefit plan,” as defined in Section 3(3) of ERISA.
    
                (b)        Leave Rights.  EMPLOYEE represents that EMPLOYEE has received all leave under the Family and Medical Leave Act, as amended (“FMLA”) and any State  or local law providing for family or medical leave to which EMPLOYEE believes EMPLOYEE is entitled, and EMPLOYEE is not aware of any facts on which a claim under either the FMLA or a State’s Family Rights Act could be brought.

                 (c)        Unknown Claims.  It is EMPLOYEE’s intention in signing this AGREEMENT that it should be effective as a bar to each and every claim, demand and cause of action stated above.  In furtherance of this intention, EMPLOYEE hereby expressly waives and relinquishes all rights and benefits afforded by Section 1542 of the California Civil Code or similar State civil code or statute, and does so understanding and acknowledging the significance and consequence of such specific waiver of Section 1542, which provides: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her, must have materially affected his or her settlement with the debtor.”  

(d)    Claims Not Released.  Section 4(a) is not intended to and does not release any claim arising out of any breach of this AGREEMENT by Company, EMPLOYEE’s right to challenge the validity of this AGREEMENT, or any claims that cannot be waived or released as a matter of law including any pending workers’ compensation claims filed by EMPLOYEE against Company.

(f)    No Right to Rehire.  EMPLOYEE recognizes that EMPLOYEE’s employment relationship with Company has been permanently severed as of the Separation Date, and that Company has no obligation, contractual or otherwise, to rehire, reemploy, recall or hire EMPLOYEE in the future.  
    
(g)    No Unauthorized Access.  EMPLOYEE agrees that EMPLOYEE will not, without consent of Company, enter the exterior or interior premises of any Company facility, or attend any meeting, function or event sponsored by Company.
    
(h)    All Wages Paid.  EMPLOYEE acknowledges that EMPLOYEE has been paid EMPLOYEE’s compensation in full through the Separation Date, including all benefits and unused, earned or accrued vacation, and is not entitled to any other compensation except as specifically set forth in this AGREEMENT.
    

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(i)    No Assignment of Claims.  EMPLOYEE represents that EMPLOYEE has not assigned or otherwise transferred to any party any claim that is being released pursuant to this AGREEMENT.

(j)    Acknowledgment of Obligations.  EMPLOYEE acknowledges and agrees to the obligations and provisions described in Section 2(c) and Section 5 of the Company’s Severance Pay Plan.    

(k)    No Actions.  EMPLOYEE represents that EMPLOYEE has not filed any action, lawsuit, claim, charge, or complaining against any of the RELEASEES with any local, state or federal agency or court.  EMPLOYEE further represents that EMPLOYEE is not aware of any employment-related injury for which EMPLOYEE may be entitled to workers’ compensation benefits for which no claim has been filed to as of the date of EMPLOYEE’s signature below.

5.    Remedies for Breach.  In the event that EMPLOYEE breaches any of the terms or provisions of this AGREEMENT, Company’s obligations under this AGREEMENT shall immediately terminate, including without limitation, all remaining monetary obligations of Company to EMPLOYEE other than any obligation for vested pension benefits that are outstanding at the time of the breach.  EMPLOYEE acknowledges that the remedies at law for a breach of this AGREEMENT are inadequate and that Company shall be entitled to injunctive relief from a court of competent jurisdiction to prevent a breach by EMPLOYEE of the terms of this AGREEMENT.

6.    No Admission.  The parties expressly agree that nothing contained in this AGREEMENT is or may be construed as an admission by Company or EMPLOYEE of any liability, wrongdoing or unlawful conduct.  Neither this AGREEMENT nor anything in this AGREEMENT shall be construed to be, or shall be admissible in any proceeding as, evidence of liability or wrongdoing by the Company or any of its employees or agents. 

7.    Severability.  Each of the terms of this AGREEMENT is deemed severable in whole or in part and if any term or provision, or the application thereof, in any circumstance should be illegal, invalid or unenforceable, the remaining terms and provisions shall not be affected thereby and shall remain in full force and effect.

8.    Governing Law/Jurisdiction.  This AGREEMENT shall be deemed to have been executed and delivered within the State of Texas.  To the full extent permitted by law, in all respects the rights and obligations of the parties under this AGREEMENT shall be interpreted, enforced and governed in accordance with the laws of Texas applicable to contracts made and to be performed in that state and without regard to the principles of conflict of laws.  Any and all legal actions or proceedings against either party arising out of this AGREEMENT or EMPLOYEE’s employment with Company shall be brought in a court of appropriate jurisdiction sitting in Tarrant County, Texas and each party submits to and accepts the exclusive jurisdiction of such courts for the purpose of such legal action or proceeding.  Each party hereby irrevocably waives any objection it may now have or hereafter have to this choice of venue of any legal action or proceeding in any such court and further waives any claim that any legal action or proceeding brought in any such court has been brought in an inappropriate forum.

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9.    Entire Agreement.  Except where specifically incorporated by reference herein, This Agreement constitutes and contains the entire agreement and understanding concerning Employee’s termination of employment and the other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters hereof.  This is an integrated document.

10.    No Other Promises.  EMPLOYEE represents that EMPLOYEE is entering into this AGREEMENT without any threat or coercion, and without reliance on any promise, inducement or statement, written or oral, made by any person representing Company, except as expressly set forth in this AGREEMENT.

11.    Successors and Assigns.  This AGREEMENT shall be binding on and shall inure to the benefit of Company and its legal representatives, transferees, successors, and assigns, and shall be binding on EMPLOYEE and EMPLOYEE's legal representatives, heirs, transferees, successors and assigns; provided that, notwithstanding anything to the contrary contained elsewhere in this AGREEMENT, the obligations of Company to make payments and provide other benefits to EMPLOYEE or EMPLOYEE's dependents under this AGREEMENT shall terminate upon the EMPLOYEE's death, unless sooner terminated on the dates set forth earlier in this AGREEMENT.

12.    Waiver.  No waiver of any breach of any term or provision of this AGREEMENT shall be construed to be, nor shall be, a waiver of any other breach of this AGREEMENT.  No waiver shall be binding unless in writing and signed by the party waiving the breach.

13.    ADEA Waiver.  In accordance with the Older Workers Benefit Protection Act of 1990, EMPLOYEE is hereby advised that this AGREEMENT includes a release and waiver of claims under the Age Discrimination in Employment Act, and EMPLOYEE agrees as follows:
		
	(a)
	This AGREEMENT is written in a manner calculated to be understood by EMPLOYEE, and EMPLOYEE understands it;

		
	(b)
	This AGREEMENT provides consideration to EMPLOYEE in addition to anything else EMPLOYEE is already entitled to receive;

		
	(c)
	EMPLOYEE is hereby advised to consult with an attorney before signing this AGREEMENT;

		
	(d)
	EMPLOYEE has twenty-one (21) days, from the date EMPLOYEE receives this Agreement, to consider this AGREEMENT. If EMPLOYEE signs this Agreement before the expiration of the twenty-one (21) day period, EMPLOYEE hereby waives the remainder of that period.  EMPLOYEE agrees that any changes or amendments to this AGREEMENT, whether or not material, will not restart the twenty-one (21) day period;

5

		
	(e)
	EMPLOYEE has seven (7) days after signing this AGREEMENT to revoke this AGREEMENT, and this AGREEMENT will not be effective, and EMPLOYEE  will not receive any of the separation benefits, until that revocation period has expired; and

If EMPLOYEE wishes to revoke this AGREEMENT, EMPLOYEE  must deliver written notice via hand-delivery or email, stating EMPLOYEE’s intent to revoke to Tom Mattei, General Counsel, Farmer Bros. Company 1912 Farmer Brothers Drive, Northlake, Texas 76262 (tmattei@farmerbros.com), on or before 5:00 p.m. on the seventh (7th) day after the date on which you sign this AGREEMENT.

IN WITNESS WHEREOF, the parties have executed this AGREEMENT as of the _17th_ day of February, 2017.

	
				
	EMPLOYEE NAME
	FARMER BROS. CO.
	 

	 
	 

	 
	 

	/s/       BF
	By:
	/s/ Suzanne Gargis
	 

	Barry C. Fischetto
	 
	Suzanne Gargis
	 

	 
	Its
	 
	 

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ENDORSEMENT
I, BARRY C. FISCHETTO, hereby acknowledge that I was granted twenty-one (21) days to to consider the foregoing Agreement and, if I signed it before the expiration of the twenty-one (21) day period, I did so voluntarily.
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
EXECUTED this _17th___ day of  February__, 2017, at Roanoke, Texas.

/s/ BF        
Barry C. Fischetto

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