Document:

Separation Agreement between JohnsonDiversey, Inc. and J. Gary Raley

 Exhibit 10.46 
 

 
  

							
	Date:	  	June 16, 2006	  		  	
				
		  		  	PERSONAL & CONFIDENTIAL	  	
				
	From:	  	Patricia Santangelo	  		  	
				
	To:	  	Gary Raley	  		  	

 The following sets forth our mutual agreement regarding your separation from the Company: 
  

	1.	Salary Continuation and Change in Control (“CIC”) Payment. For the next two weeks, you will continue on the payroll with the same salary and benefits through
June 30, 2006, at which time your employment will terminate (your “Termination Date”). Upon receipt of this signed Agreement, the Company will pay you a lump sum payment equal to one year base salary plus annual PBO at your current
Target rate (the “CIC Payment”). This payment will have all federal, state and local taxes deducted, as applicable. The federal withholding “Supplemental Rate” of 25 percent is used in the tax calculation of the Severance
Payment. 

  

	2.	JohnsonDiversey Retiree Health Care Assistance. On your Termination Date, you will be eligible to elect retiree medical (including prescription drug), dental and vision
coverage under the JohnsonDiversey Choice Benefits Program in lieu of COBRA coverage. The Company will pay you a lump sum equal to the difference between the cost of retiree medical coverage under your current elections and the cost of your current
employee rate for medical coverage for 52 weeks. If you elect COBRA in lieu of retiree health care, you will not be able to elect retiree health care coverage at a later date. Please refer to the Benefit Information Packet for more
detailed information. 

  

	3.	2006 Performance Bonus Plan. Your final payment under the PBO Plan will be prorated and based on actual results for the first half of 2006 and will be paid in
September/October, 2006. 

  

	4.	Long Term Incentive Plan. Your final payment under the LTI Plan will be prorated and based on actual results for the first half of 2006 and will be paid in September/October,
2006. 

  

	5.	Cash Profit Sharing. Your prorated 2006 cash profit sharing payment will be paid on or before December 31, 2006. Neither the CIC Payment referred to in paragraph 1,
above, nor any lump sum payments, will constitute earnings for purposes of calculating profit sharing. 

	6.	Retention Bonus. Your retention bonus of $166,000 will be paid on July 15, 2006. 

  

	7.	Success Bonus. Your success bonus of $400,000 will be paid on July 15, 2006. 

  

	8.	All Other Benefits. Please refer to the Benefit Information Packet for information on other benefits to which you may be entitled. 

  

	9.	Corporate Credit Card. You agree to file all expense reports on your Mastercard Corporate Credit Card on or before your Termination Date. If any amount remains outstanding,
you agree that the Company will withhold said amount from any monies due you under this Agreement. 

  

	10.	Outplacement Assistance. The Company will provide the services of the outplacement firm of Right Management to assist you in your effort to secure other employment.

  

	11.	Return of Company Property. You agree to return on or before June 30, 2006, any and all Company property, including, but not limited to, Company car, credit cards,
files, including all originals and copies of Company documents (whether or not you were the author or recipient) and any Company material you may have in any electronic form, keys, cell phone, Company product in your possession, accounts receivable
monies, etc. in accordance with Company guidelines. 

  

	12.	Release. In consideration of the Company’s provision for the CIC Payment and outplacement assistance described above, you, on your own behalf and for your heirs, assigns
and representatives of any kind, hereby release and forever discharge the Company, its officers, directors, shareholders, employees, insurers, subsidiaries and any affiliated companies from any and all claims, demands, rights, liabilities and causes
of action of any kind or nature, including, without limitation, rights and/or claims under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964 and/or the Civil Rights Act of 1991, known or unknown, arising or having
arisen out of, in connection with or during your employment with or separation from the Company. However, this release shall not apply to any of your rights under benefit plans which apply generally to former employees (subject to any benefit plan
restrictions) of the Company, any claims based on facts arising after the date of execution of this Agreement, and your rights under this Agreement. 

  

	13.	Older Worker Benefit Protection Act. In compliance with the Older Worker Benefit Protection Act, you (“Employee”), agree and acknowledge as follows:

  

	 	a.	Employee has read the terms of this Agreement, understands its contents, and agrees to the terms and conditions set forth herein of your own free will. 

	 	b.	Employee has been advised orally and, by this document, in writing of your right to consult with legal counsel prior to executing this Agreement. 

  

	 	c.	Employee does not rely on any statement or representation of the Company in entering into this Agreement. 

  

	 	d.	Employee understands that this Agreement includes a general release and that Employee can make no claims against the Company except as provided in the general release.

  

	 	e.	Employee acknowledges that Employee has been afforded a reasonable period of time within which to consider this Agreement. Accordingly, Employee hereby waives the applicable period
provided under the Act (45 days) to consider this Agreement. 

  

	 	f.	Employee acknowledges and understands that Employee may rescind the release and waivers contained herein within seven (7) calendar days of the date on which Employee executes
this document. Should Employee wish to exercise the right to rescind the release and waivers, the rescission must be in writing and must be delivered by hand or mail within seven (7) calendar days of the date set forth herein. If Employee
wishes to deliver the rescission by mail, the rescission must be postmarked within the seven (7) calendar days set forth above; must be sent by certified mail, return receipt requested; and must be properly addressed as follows:

 BY MAIL/HAND DELIVERY 
 JoAnne Brandes, General Counsel 
 JohnsonDiversey, Inc. 
 8310 -
16th Street 
 P. O. Box 902 
 Sturtevant, WI 53177-0902 
 If Employee wishes to deliver the rescission by hand, the rescission shall be delivered to the person and address stated above. 
  

	 	g.	The consideration referred to in paragraph 1, above, will not be paid until the aforesaid rescission period has expired without Employee exercising Employee’s right of
rescission and all terms of this Agreement are fulfilled. 

  

	14.	 Confidentiality. You agree to keep strictly confidential, and will not disclose to any third party in any manner, excluding your immediate family, attorney
or accountant, directly or indirectly, the terms of this Agreement, any confidential business or technical information of the Company, as well as any information regarding any business, and/or personal affairs of any present or former directors,
officers, stockholders and/or employees of the Company or any affiliate or subsidiary companies of the 

	 	 
Company to which you have been privy during the time that you were an employee of this Company in accordance with the requirements of this Agreement or as
may be required by the Agreement to Respect Proprietary Rights and Non-Compete (the “Non-Compete”) you signed. 

  

	15.	Non-Compete. For purposes of the Non-Compete, the date on which you terminated employment with the Company shall be deemed to be June 30, 2006. You acknowledge and agree
that the Non-Compete remains in full force and effect notwithstanding the termination of your employment with the Company. The terms of the Non-Compete are hereby incorporated by reference. You reaffirm the terms of the Non-Compete and agree that
(a) by executing this Agreement you are agreeing to all of the terms of the Non-Compete as if you signed that document anew, and (b) the payments you are receiving and/or are to receive under this Agreement is consideration for the
obligations you have under the Non-Compete. 

  

	16.	Breach of Agreement. The Company shall have the right to terminate any and all payments owed to you under this Agreement upon your breach of any of your obligations under
this Agreement, whether in whole or in part. 

  

	17.	Miscellaneous. 

  

	 	a.	You agree to cooperate with the Company (including meeting with personnel of the Company and/or their lawyers) in any claim or matter which may arise (including in the future) about
which you may have knowledge acquired during your period of employment. 

  

	 	b.	You agree and understand that this Agreement sets forth and contains all of the obligations the Company has to you and that you are not entitled to any other compensation of any
kind or description. 

  

	 	c.	We advise you to consult an attorney prior to signing this Agreement, especially in relation to the release stated above. 

 If you are in agreement with all of the terms stated in this letter, please sign both original documents where provided below and return one signed original to me.

  

	
	 /s/ Patricia Santangelo

	Patricia Santangelo

 Accepted and agreed to this 28 day of June, 2006. 
  

	
	 /s/ J. Gary Raley

	Gary RaleyRetirement Agreement between JohnsonDiversey, Inc. and JoAnne Brandes

 Exhibit 10.47 
 RETIREMENT AGREEMENT BETWEEN 
 JOHNSONDIVERSEY, INC. AND JOANNE BRANDES 
  

					
	Date:	 	January 5, 2007	 	
			
	From:	 	Curt Johnson	 	PERSONAL & CONFIDENTIAL
			
	To:	 	JoAnne Brandes	 	

 The following sets forth our mutual agreement (“Agreement”) regarding your separation
from the Company: 
 1. Salary Continuation. Your last day of work will be January 31, 2007 (“Termination Date”). The
Company will pay you an amount equal to one times the sum of your annual base salary ($460,000) and performance bonus objective (“PBO”) at your 2006 target rate ($299,000) as salary continuation for 12 months following the Termination
Date. Payments of this salary continuation amount of $759,000 will be paid in equal installments at the times and in the manner consistent with Company payroll practices for executive employees. Payments will have all federal, state and local taxes
deducted, as applicable. 
 2. Health Benefits. The medical, dental and vision coverage you elected under the JohnsonDiversey Choice
Benefits Program will cease on your Termination Date. At your option, you may continue your coverage for a period of 18 months under COBRA. Please contact the JDI Service Center at (866) 391-0760 for more detailed information. At the end of the
18-month period, you will be eligible for retiree medical benefits as provided under our plan as in effect from time to time. Your retiree medical premiums will be based on your age as of your Termination Date. The Company will pay you a cash lump
sum payment of $30,500 within 30 days following your Termination Date to cover the sum of the present value of the estimated difference in retiree medical premiums that you will be required to pay based on your age as of your Termination Date and
those that you would have paid had you been age 55 at your Termination Date and the estimated tax consequences of the payment. 
 3. COBRA
Assistance. If you elect COBRA, the Company will subsidize the medical, vision and dental rates for the 18 months’ coverage period so that for the same coverage you will pay the same amount of contribution as if you were an active employee.

 4. Retiree Medical Savings Account (RMSA). You will retain any RMSA Employee and Company Accounts to be used for payment of
healthcare expenses. 
 5. Life Insurance. You will receive Company-paid retiree life insurance of $15,000 and you will have the
option of purchasing additional retiree life as provided under our plan as in effect from time to time. For options regarding retiree life insurance and on converting any additional life insurance coverage, please contact the JDI Service
Center. 

 6. Choice Benefits. As with the health benefits, the coverage you elected will cease on your
Termination Date. 
 7. Service Recognition Award. In recognition of your career with the Company, the Company will pay you $1,130,000
in cash, one-half to be paid on the first anniversary of the Termination Date and one-half on the second anniversary of the Termination Date. 
 8. Supplemental Executive Retirement Plan. As of the first day of the month following your Termination Date, you will be paid under the JohnsonDiversey, Inc. Supplemental Executive Retirement Plan a cash lump sum payment equal to the
actuarial equivalent value of a $50,000 annual retirement benefit commencing at attainment of age 55 on a single-life basis. 
 9. 2006
PBO. You will receive a 2006 PBO payment based on actual performance. This payment will be made on or before March 31, 2007 at the time the Company pays such bonuses to other participants. 
 10. 2006-08 Cash LTIP. You will receive a prorated Cash LTIP payment for the 2006-08 performance cycle based on actual performance, with your
prorated entitlement to be one-third of the otherwise earned benefit. This payment will be made after the end of the 2006-08 performance cycle and on or before March 31, 2009 at the time the Company pays awards for the 2006-08 performance cycle
to other participants. 
 11. 2006 Transition Performance Award. You will receive a 2006 transition performance award payment based on
actual performance. The final payment of such award will be made during June 2007 at the time the Company makes final payments of such awards to other participants. 
 12. 2006 Profit Hunt Incentive Award. You will receive a 2006 profit hunt incentive award based on actual performance. This payment will be made on or before March 31, 2007 at the time the Company pays
such bonuses to other participants. 
 13. JohnsonDiversey Retirement Plan/Non-qualified Retirement Plan. Your vested benefits under
these plans at your Termination Date will be available to you pursuant to their terms. You will receive more detailed information. 
 14.
401(k) Plan. You will continue to participate in the 401(k) Plan based on your base salary up to your Termination Date. Your Plan account will be based on the date of distribution of your account to you. To access your 401(k) account, please
call Fidelity at (800) 890-4015. 
 15. Outplacement Assistance. For one year following your Termination Date, the Company will
provide the services of the outplacement firm of Right Management to assist you in your effort to secure other employment. 
 16.
Separation Pay. You will be entitled following your Termination Date to 14 weeks’ of your base salary (the annual rate of which is $460,000) as provided under the Company’s formal separation pay policy. 
  

 - 2 - 

 17. Flexible Spending Account. You will be entitled on July 1, 2007 to a payment of up to
$10,000 for reimbursement of retirement/financial planning service expenses incurred after January 1, 2007 and prior to July 1, 2007. 
 18. All Other Benefits. All other benefits not specifically mentioned above cease as of
your Termination Date, and you will not be entitled to any awards under our annual or long-term bonus or incentive plans (including PBO, cash/equity LTIP, and profit hunt incentive awards) for 2007 or later years. Your 2001 special restricted stock
grant with a grant date of December 10, 2001 (including the added cash benefit under a SERP providing for a payment thereunder equal to the difference between the value of the restricted stock at the time of vesting and the value if the shares
were valued at $139.25 per share) will be forfeited on your Termination Date in accordance with its terms. You will be paid for unused 2006 vacation days plus 1/12th of your 2007 vacation in accordance with Company policy and the requirements of Wisconsin law. 
 19. Corporate Credit Card. You agree to file all expense reports on your Mastercard Corporate Credit Card on or before your Termination Date. If any amount remains outstanding, you agree that the Company will withhold said amount
from any monies due you under this Agreement. 
 20. Return of Company Property. As soon as reasonably practicable but in no event
later than your Termination Date, you shall return all Company-owned property in your possession, including but not limited to all keys to buildings or property, credit cards, files, equipment, software and computers, documents and papers (including
but not limited to reports, Rolodexes, sales data, product lists, business plans, financial information, corporate governance materials, notebook entries, and files), telephone cards, cellular telephone(s), all Confidential Information, as defined
herein, and all other Company property in accordance with Company guidelines. 
 21. Release. In consideration of the Company’s
provision for the severance payments provided above, you agree, on behalf of yourself, your spouse or any former spouse, dependents, heirs, attorneys, successors and assigns, to release, hold harmless and forever discharge JOHNSONDIVERSEY, INC., as
well as its parent companies, subsidiaries, affiliates, successors, predecessors, employees, agents, directors and officers, past and present, stockholders and estates in their individual and business capacities, jointly and severally, (collectively
referenced herein as “the Released Parties”), from any and all claims, damages, fees, costs or other equitable, legal, statutory or common law relief for any causes of action, obligations, contracts, torts, claims, costs, penalties, fines,
liabilities, attorneys’ fees, demands or suits, of whatever kind or character, known or unknown, fixed or contingent, liquidated or unliquidated, whether asserted or unasserted, arising out of or related to your prior employment with the
Company, your termination from employment with the Company, any employment agreements, policies or practices governing terms of your employment, and any acts or omissions by the Company or any of the Company’s current and former officers,
directors, shareholders, principals, attorneys, agents, employees, affiliates, parent companies, subsidiaries, successors and assigns, at any time up through the Effective Date of this Agreement. This Agreement shall specifically apply to, but shall
not be limited to, claims for violation of civil rights, including violations of Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Americans With Disabilities Act, the Age 

  

 - 3 - 

 
Discrimination in Employment Act or any other state or federal statute (or constitution), including but not limited to any claim based upon race, sex,
national origin, ancestry, religion, age, mental or physical disability, marital status, sexual orientation or denial of Family and Medical Leave; claims arising under the Employee Retirement Income Security Act (“ERISA”), or pertaining to
ERISA-regulated benefits; claims arising under the Fair Labor Standards Act, including any claims for wages, vacation pay, severance pay, bonus compensation, commissions, deferred compensation, other remuneration of any kind or character; claims for
violations of any federal, state or local laws governing employment or labor relations; claims for any obligations, agreements, express or implied contracts; claims for defamation, invasion of privacy, assault and battery, intentional or negligent
infliction of emotional distress, negligence, gross negligence, estoppel, conspiracy or misrepresentation; express or implied duties of good faith and fair dealing; wrongful discharge, violations of public policy; and/or torts for any and all
alleged acts, omissions or events up through the Effective Date of this Agreement. 
 22. Older Worker Benefit Protection Act. This
Agreement is intended to comply with the terms of the Older Workers’ Benefit Protection Act. Accordingly, you acknowledge that you have been advised of the following rights: 
 a. You understand that state and federal laws, including the AGE DISCRIMINATION IN EMPLOYMENT ACT, prohibit employment discrimination
based upon age, sex, martial status, race, color, national origin, ethnicity, religion, sexual orientation, veteran’s status and disability. You further acknowledge and agree that, by signing this Agreement, you agree to waive any and all such
claims, and release the Company as well as the other Released Parties from any and all such claims. 
 b. You acknowledge that
you have been advised in writing to consult with an attorney and have been provided with a reasonable opportunity to consult with an attorney prior to signing this Agreement, which contains a general release and waiver of claims. 
 c. You acknowledge that the consideration required to be paid pursuant to the terms of this Agreement includes certain payments to which
you otherwise would not be entitled, and that you are being paid these additional payments in consideration for signing this Agreement. 
 d. You acknowledge that you have been provided with a minimum of TWENTY-ONE (21) DAYS after receiving this Agreement, up to and including January 26, 2007 to consider whether to sign this Agreement.

 e. You have been informed that, in the event that you sign this Agreement, you have another SEVEN (7) DAYS to revoke
it. To revoke, you agree to deliver a written notice of revocation to Edward F. Lonergan, President and Chief Executive Officer, (with a cc to Todd Blazei, Vice President, Total Rewards), JohnsonDiversey, Inc., 8310 16th Street, P.O. Box 902,
Sturtevant, WI 53177-0902, prior to 5 PM on the seventh day after signing. THIS AGREEMENT DOES NOT BECOME EFFECTIVE UNTIL EXPIRATION OF THIS SEVEN DAY PERIOD. 
  

 - 4 - 

 f. The consideration required to be paid under this Agreement will not be paid until the
aforesaid rescission period has expired without you exercising your right of rescission and all terms of this Agreement are fulfilled. 
 23.
Confidential Information. You agree to keep strictly confidential, and will not disclose to any third party in any manner, directly or indirectly, any Confidential Information. You agree that all such information shall be held in strictest
confidence and not published or otherwise disclosed in any manner or to any degree. You further agree that you will not, for your own behalf or on behalf of any other person or entity, use any Confidential Information for the purpose of engaging in
any business activity similar to that in which you engaged during your employment with the Company. 
 a. For purposes of this
Agreement, “Confidential Information” shall mean all information, whatever its nature and form and whether obtained orally, by observation, from written materials, or otherwise obtained by you during or as a result of your employment with
the Company or in connection with your affiliation with any entity which has been acquired by or merged into the Company, and relating to any research, technical, manufacturing, business or commercial activities or plans of the Company, whether made
or conceived by you or otherwise, or any information regarding any business, and/or personal affairs of any present or former directors, officers, stockholders and/or employees of the Company or any affiliate or subsidiary companies of the Company
to which you have been privy during the time that you were an employee of this Company, except such information as is generally available to the public. By way of illustration, but without limitation, “Confidential Information” includes
formulas, systems, methods, programs, processes, compilations of technical and non-technical information, inventions, discoveries and improvements, designs, drawings, blueprints, software, product ideas, concepts, prototypes, features, techniques,
procedures, and all ideas related to actual or anticipated business or research and development of the Company, whether patented or patentable, and business and customer information including but not limited to product announcement dates, marketing
objectives and strategies, financial projections, planned product or services offerings, advertising and promotional materials, forms, patterns, lists of past, present or prospective licenses, licensees, clients and customers, and their addresses,
needs, personnel, characteristics, and the like, and data prepared for, stored in, processed by or obtained from an automated information system belonging to or in the possession of the Company. 
 b. If you are required by order of a court or other governmental authority to disclose any Confidential Information, you agree to promptly
notify the Company in advance of any disclosure so that the Company may attempt to obtain an appropriate protective order. 
 c. As a material term of this Agreement, you agree to comply in all respects with the terms of the Agreement to Respect Proprietary Rights and Non-Compete (the “Non-Compete”) that you signed. You acknowledge and agree that the
Non-Compete remains in full force and effect notwithstanding the termination of your employment with the Company. The terms of the Non-Compete are hereby incorporated by reference. You reaffirm the terms of the Non-Compete and agree that (a) by
executing this Agreement you are agreeing to all of the terms of the Non-Compete as if you signed that document anew, and (b) the 

  

 - 5 - 

 
payments you are receiving and/or are to receive under this Agreement is consideration for the obligations you have under the Non-Compete. 
 24. Non-Solicitation. For a period of three (3) years after your termination, you shall not in any manner, directly or indirectly, induce or
attempt to induce any employee of the Company to quit or abandon his or her employment with the Company, or any parent company, subsidiary or affiliate. 
 25. Confidentiality. The Parties agree that neither party, nor anyone acting in on her/its behalf shall initiate or cause to be initiated any publicity or any oral or written communication whatsoever concerning
the terms of this Agreement and, with the exceptions stated herein below, shall forever hold confidential and not make public to anyone, in particular, current and past employees of the Company, whether by oral or written communications or
otherwise, said terms, except only: (a) as may be required by the Company to comply with securities laws and regulations; (b) to the extent as may be absolutely necessary to accomplish financial planning, tax planning and the filing of
income tax returns; (c) to the extent as may be absolutely necessary to enforce the terms of this Agreement; (d) to the extent as may be compelled by court order; or (e) to spouses or immediate family members. Any breach of this
section shall be considered a material breach of the Agreement. 
 26. Non-Disparagement. You agree that you will not make any
disparaging or derogatory remarks or statements about the Company, or the Company’s current and former officers, directors, shareholders, principals, attorneys, agents or employees, or your prior employment with the Company. The Company agrees
that it will not make any disparaging or derogatory remarks or statements about you or your prior employment with the Company. In the event a prospective employer contacts the Company by any means to verify your prior employment, the only
information that the Company, and its agents or employees will provide will be your hire date, date of resignation and last position held. 
 27. Breach of Agreement. The Company shall have the right to terminate any and all payments to be made to you under this Agreement in the event of your breach of any of your obligations under this Agreement or under the Non-Compete.

 28. Miscellaneous. 
 a. In the event that the Company is involved in any investigation, litigation, arbitration or administrative proceeding subsequent to the Termination Date, you agree that, upon request, you will provide reasonable
cooperation to the Company and its attorneys in the prosecution or defense of any investigation, litigation, arbitration or administrative proceeding, including participation in interviews with the Company’s attorneys, appearing for
depositions, testifying in administrative, judicial or arbitration proceedings, or any other reasonable participation necessary for the prosecution or defense of any such investigation, litigation, arbitration or administrative proceeding. The
Company agrees to reimburse you for your reasonable expenses in participating in the prosecution or defense of any investigation, litigation, arbitration or administrative proceeding, provided that you submit acceptable documentation of all such
expenses. 
  

 - 6 - 

 b. This Agreement is made in the State of Wisconsin, and shall in all respects be
interpreted, enforced and governed under the laws of the State of Wisconsin (exclusive of any rules pertaining to choice of law), or by Federal law where applicable. 
 c. The provisions of this Agreement may not be modified by any subsequent agreement unless the modifying agreement is: (i) in
writing; (ii) specifically references this Agreement; (iii) is signed by you; and (iv) is signed and approved by an authorized officer of the Company. 
 d. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof; the Parties have
executed this Agreement based upon the terms set forth herein; the Parties have not relied on any prior agreement or representation, whether oral or written, which is not set forth in this Agreement; no prior agreement, whether oral or written,
shall have any effect on the terms and provisions of this Agreement; and all prior agreements, whether oral or written, are expressly superseded and/or revoked by this Agreement unless otherwise provided herein. 
 e. Each provision of this Agreement shall be enforceable independently of every other provision. Furthermore, in the event that any
provision is deemed to be unenforceable for any reason, the remaining provisions shall remain effective, binding and enforceable. The Parties further acknowledge and agree that the failure of any party to enforce any provision of this Agreement
shall not constitute a waiver of that provision, or of any other provision of this Agreement. 
 f. The Effective Date of this
Agreement shall be seven (7) calendar days after the date that you sign this Agreement. The date that representatives of the Company sign this Agreement shall not affect the Effective Date for any purpose under this Agreement. 
 g. You agree and understand that this Agreement sets forth and contains all of the obligations the Company has to you and that you are not
entitled to any other compensation of any kind or description. 
 h. We advise you to consult an attorney prior to signing
this Agreement, especially in relation to the release stated above. However, each party will bear their own attorney’s fees and costs in connection with drafting and negotiation of this Agreement. 
 i. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall
constitute an effective, binding agreement on the part of each of the undersigned. 
 j. The Company may withhold from any
amounts payable under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law or government regulation or ruling. 
 29. Resignation From Positions. Effective as of the Termination Date, you hereby resign from all your positions with the Company, its subsidiaries and its affiliates, including as an employee, officer,
director, or member of any committee or board thereof, which you currently hold or in which you currently serve. From and after the Termination Date, you shall no longer be an employee, officer or director of the Company or any of its subsidiaries
or affiliates. 
  

 - 7 - 

 If you are in agreement with all of the terms stated in this Agreement, please sign both copies where provided below and
return one copy to me. 
  

	
	 /s/ Curt Johnson

	Curt Johnson

 Accepted and agreed to this 25th day of January, 2007 
  

	
	 /s/ JoAnne Brandes

	JoAnne Brandes

  

 - 8 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]