Document:

EX-10.1 SEVERANCE AGREEMENT AND RELEASE

 

Exhibit 10.1

SEVERANCE AGREEMENT AND RELEASE

	1.	 	This Severance Agreement and Release (“Agreement”) is made between Robert R. Kulbick
(“Executive”) and Crawford & Company and its subsidiaries (“Crawford”).

	2.	 	Executive resigned from his position as Chief Executive Officer of Broadspire, A Crawford
Company, and as an officer and/or director of any other Crawford subsidiary, effective January
19, 2007.

CONSIDERATION

	3.	 	In return for the promises and covenants made by Executive in this Agreement, Crawford will
provide Executive with the following:

	 	(a)	 	Crawford will pay to Executive the total amount of $284,900.00 (two hundred
eighty-four thousand nine hundred dollars), less applicable withholding taxes/amounts.
This total amount will be split into 26 equal payments, paid to Executive over the
period of 12 months (the “Severance Period”) following the Effective Date, as defined
below in paragraph 24 of this Agreement. If Executive dies during the Severance
Period, any monthly payments remaining after his death will be made to his estate.
With the exception of any taxes that Crawford withholds from the amount described in
this paragraph, Executive (and/or his estate, if applicable) shall be liable for any
and all taxes on the amount paid to him (and/or his estate, if applicable) pursuant to
this Agreement.
	 
	 	(b)	 	If Executive takes reasonable and diligent steps to find employment during the
Severance Period, including the use of the services provided for in paragraph 3(f),
below, Crawford will also pay to Executive $23,741.67 (twenty-three thousand seven
hundred forty-one dollars and sixty-seven cents) per month for up to 6 months following
the Severance Period if Executive is not employed at the end of the Severance Period.
Crawford’s obligation to pay Executive pursuant to this subparagraph 3(b) will
immediately cease upon Executive becoming employed by anyone (including his commencing
a business on his own behalf) at any point during the 6 months following the Severance
Period. Executive shall immediately notify Crawford if he secures employment at any
point during the 6 months following the Severance Period. Executive’s obligations
under this Agreement, including, but not limited to, paragraphs 8, 9, 12, 13, and 14,
shall continue while he receives payment pursuant to this subparagraph 3(b).
	 
	 	(c)	 	During the Severance Period, Crawford will permit Executive to continue to hold
and exercise stock options for 90 days in accordance with the provisions of the
applicable stock option agreements.
	 
	 	(d)	 	Executive shall be entitled to continue insurance coverage to the extent that
Crawford is required by law (the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended) to provide such coverage (“COBRA coverage”) for him

 

 

	 	 	 	and/or his dependents. If Executive elects COBRA coverage, Crawford will contribute
the amount that Crawford would have paid for such coverage if the eligible Executive
had been an active employee for the lesser of 12 months or until Executive become
eligible for other insurance coverage.
	 
	 	(e)	 	The Company will continue to pay Executive his company car allowance of $258.46
per the 26 pay periods during the 12 months Severance Period.
	 
	 	(f)	 	Crawford will pay for Executive to receive, for a period not to exceed 6 months
after the Effective Date of this Agreement, the outplacement services customarily
provided by the Mulling Companies.
	 
	 	(g)	 	Except for vested rights, if any, that Executive may have under Crawford’s
Deferred Compensation Plan, Employee Stock Purchase Plan, Defined Benefit Plan, Defined
Contribution Plan (401k), and/or Supplemental Executive Retirement Plan, Executive
shall receive no compensation or benefit from Crawford (including no additional
contribution or payment to the plans listed in this paragraph) after the Effective Date
of this Agreement, other than as expressly provided for herein.

RELEASE OF CLAIMS

	4.	 	Executive hereby irrevocably and unconditionally releases, acquits, and forever discharges
Crawford and each of Crawford’s former and current owners, stockholders, predecessors,
successors, assigns, agents, directors, officers, employees, representatives, attorneys,
parent companies, divisions, subsidiaries, affiliates (and agents, directors, officers,
employees, representatives, and attorneys of such parent companies, divisions, subsidiaries,
and affiliates), and all persons acting by, through, under, or in concert with any of them
(collectively “Releasees”), from any and all charges, complaints, claims, liabilities,
obligations, promises, agreements, controversies, damages, actions, causes of action, suits,
rights, demands, costs, losses, debts, and expenses (including attorneys’ fees and costs) of
any nature whatsoever, known or unknown, suspected or unsuspected, which Executive now has,
owns, or holds; claims to have, own, or hold; at any time heretofore had, owned, or held; or
at any time heretofore claimed to have, own, or hold, against each or any of the Releasees
(“Claim” or “Claims”). The Claims released herein include, but are not limited to, any claims
for back pay, front pay, wages, compensatory damages, punitive damages, benefits, severance,
vacation pay, sick pay, bonus, or any other form of compensation from the Releasees or any of
them, that arise under any federal, state, foreign, and/or local laws including, but not
limited to, (a) the Age Discrimination in Employment Act of 1967, as amended; (b) Title VII of
the Civil Rights Act of 1964, as amended; (c) 42 U.S.C. § 1981; (d) the Americans with
Disabilities Act; (e) the Equal Pay Act; (f) the Family and Medical Leave Act; (g) the
Rehabilitation Act of 1973; (h) the Fair Labor Standards Act; (i) the Employee Retirement
Income Security Act; (j) statutory or common law relating to defamation, intentional
infliction of emotional distress, negligence of any kind, any other tort, or any legal
restriction on Crawford’s right to terminate employees; (k) statutory or common law relating
to breach

-2-

 

	 	 	of an express or implied contract; (l) statutory or common law relating to a breach of any
implied or express covenant of good faith and fair dealing; and/or (m) statutory or common
law relating to retaliation of any kind. Nothing in this release of claims shall prevent
Executive from bringing a claim or claims to enforce the terms of this Agreement. This
release of claims does not constitute a waiver of Executive’s right to employee benefits
that are vested, under the terms of applicable benefit, retirement, or pension plans, as of
the date this Agreement is signed. This release of claims does not apply to claims, if any,
as to which releases are prohibited by applicable law or that arise after the date Executive
signs this Agreement.

	5.	 	As a material inducement to enter into this Agreement, and without limiting the previous
paragraph, Executive and his family agree to release Crawford, its employees, officers,
directors, subsidiaries, affiliated corporations, successors, and assigns from any and all
claims, liabilities, damages, actions, causes of action, suits, demands, costs, and expenses
of any kind whatsoever, whether known or unknown, which Executive may have now, arising any
time before the date Executive signs this Agreement, that in any way are based upon, related
to, or derived from Executive or Executive’s family being a shareholder of Crawford. Further,
Executive agrees not to encourage, persuade, or advocate that any third party engage in any
action, suit, demand, or claim against Crawford, its employees, officers, directors,
subsidiaries, affiliated corporations, successors, or assigns that are based upon, relate to,
or derived from that third party being a shareholder of Crawford.

	6.	 	Executive represents that he has neither filed nor assigned to others the right to file any
complaints, charges, or lawsuits against Crawford with any government agency or any court.
Executive further warrants and represents that he has not made or caused to be made any
assignment, purported assignment, transfer, or purported transfer of any right, claim, demand,
or cause of action covered by this Agreement, and that he is the sole and absolute legal and
equitable owner of all such rights, claims, demands, and causes of action. Executive further
represents that he will not, at any time hereafter, file, assign to others the right to file,
or otherwise initiate or pursue any claims against Crawford that arise from actions taken or
events occurring up to and including the date on which Executive signs this Agreement.
Executive further agrees that he will not accept, recover, or receive any back pay, damages,
or any other form of relief pursued on his behalf by any federal, state, or local government
agency, any class, or any other person or entity, arising from claims against Crawford that
arose before Executive signs this Agreement. Executive shall indemnify, defend, and hold
harmless Crawford from and against any claims based upon or arising in connection with any
such assignment or transfer, or purported assignment or transfer, of any claims or other
matters released herein.

EXECUTIVE’S OTHER PROMISES AND COVENANTS

	7.	 	Executive will immediately return to Crawford all Crawford property that is within
Executive’s possession or control.

-3-

 

	8.	 	Executive will, to the extent reasonably requested in writing, cooperate with and provide
information to Crawford in any pending or future litigation or investigation in which Crawford
is a party or involved and regarding which Executive, by virtue of his association with
Crawford, has relevant knowledge or information. Executive will, in any such litigation or
investigation, without the necessity of a subpoena, provide, in any jurisdiction in which
Crawford requests, truthful testimony relevant to said litigation or investigation. Executive
will also meet with Crawford personnel and/or counsel regarding such litigation or
investigation to the extent reasonably requested in writing, provided that Executive may
participate in such meetings by telephone if meeting in person would interfere with his
employment or business obligations. Executive understands that Crawford will reimburse him
for reasonable expenses actually incurred when meeting his obligations under this paragraph,
but will not pay him an hourly rate or other fee for the time he spends in meeting those
obligations.

	9.	 	Executive will remain available by telephone, on a reasonable basis that will not unduly
interfere with his employment or business obligations, to provide information to Crawford
regarding matters he worked on, persons he dealt with, and other knowledge he gained in his
capacity as the CEO of Broadspire, a Crawford Company. Executive understands that he will not
be paid an hourly rate or any other fee for the time he spends in meeting this obligation.

	10.	 	During the term of his employment, Executive has been exposed to or has had access to the
confidential attorney-client communications of Crawford. Executive acknowledges and agrees
that the attorney-client privilege applicable to those communications belongs to Crawford, not
Executive, and Executive has no authority to waive or compromise that privilege. Executive
shall not directly or indirectly use or disclose any information or document conveyed to him
in the course of his employment that is a confidential attorney-client communication or is
attorney work product, except directly to Crawford’s attorneys or as required by a validly
issued court order.

	11.	 	During his employment with Crawford, Executive was intimately involved in developing strategy
and planning for Crawford, and was provided or had access to Confidential Information, as
defined in paragraph 12, below, belonging to Crawford. Executive acknowledges and agrees that
such information has been developed or obtained by Crawford by the investment of significant
time, effort, and expense, and that such information is a valuable, special, and unique asset
of Crawford. Executive further understands and acknowledges that such information is
proprietary to Crawford and that, if exploited by Executive in contravention of this
Agreement, would seriously, adversely, and irreparably affect the business of Crawford.

	12.	 	Executive agrees that, he will not disclose or otherwise use any Confidential Information
relating to Crawford’s business operations. For purposes of this Agreement, Confidential
Information includes financial, marketing, and other business and/or product plans or
strategies; client, customer, and vendor lists; and all other confidential or proprietary
information of Crawford that has not become generally available to the public by the act of
one who has the right to disclose such information without violating Crawford’s rights.

-4-

 

	13.	 	Executive agrees that during the Severance Period, he will not directly or indirectly impair
or attempt to impair, through solicitations or offers of employment, offers of independent
contractor relationships, or otherwise, Crawford’s relationship with any of its employees with
whom Executive had business contact during the last year of his employment with Crawford.

	14.	 	Executive agrees that during the Severance Period, he will not, for the purpose of competing
with Crawford, directly or indirectly solicit or attempt to solicit business from any client
or customer of Crawford whom he had business contact with or knowledge of during the last year
of his employment with Crawford.

	15.	 	Except as otherwise required by law, Executive shall not make any statement, written or oral,
in any forum or media, public or private, or take any action, that disparages Crawford.
Without limiting the foregoing, the statements prohibited by this paragraph include negative
references to Crawford’s products and services, corporate policy, officers, and/or directors.

	16.	 	Executive agrees that he has maintained and will continue to maintain the confidentiality of,
and will not disclose, reveal, publish, disseminate, or discuss this Agreement, directly or
indirectly, to or with any other person or entity, except as specifically provided below. The
information regarding this Agreement that will be kept confidential (except as specifically
provided below) will include, but will not be limited to, the fact and amount of the payment
provided for herein and any other information about this Agreement that Executive knows or
possesses. The following disclosures are permitted in the following limited circumstances:

	 	(a)	 	Executive may make such disclosures as are reasonably necessary for tax
reporting purposes;
	 
	 	(b)	 	Executive may disclose the terms and amount paid under this Agreement as
reasonably necessary to obtain legal, tax, or accounting advice or services;
	 
	 	(c)	 	Executive is permitted to disclose the terms of this Agreement to the extent
required in any legal proceeding involving the enforcement of this Agreement, but, as
to any other legal proceedings, he is not permitted to disclose the terms of this
Agreement except to the extent (i) specifically consented to in writing by Crawford, or
(ii) compelled pursuant to a subpoena, court order, or other legal process; and
	 
	 	(d)	 	Executive is permitted to disclose the terms of this Agreement to his adult
children, former spouse, and spouse, provided that anyone to whom a disclosure is made
pursuant to this subparagraph 16(d) has been advised of and agrees to abide by the
confidentiality requirements of this Agreement.

-5-

 

OTHER AGREEMENTS AND COVENANTS

	17.	 	The prohibitions against disclosure of Confidential Information that are recited herein are
in addition to, and not in lieu of, any rights or remedies available pursuant to the laws of
any jurisdiction or common law or judicial precedent, to prevent the disclosure of trade
secrets or proprietary information; the enforcement of such rights and remedies pursuant to
this Agreement shall not be construed as a waiver of any other rights or available remedies in
law or equity outside this Agreement.

	18.	 	This Agreement has been entered into in and shall be governed by and construed under the laws
of the State of Georgia without reference to the choice of law principles thereof.

	19.	 	This Agreement shall be binding on the parties hereto and their respective heirs, successors,
and assigns.

	20.	 	If any proceeding or action at law or in equity is necessary to enforce or interpret the
terms of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees,
costs, and necessary disbursements in addition to any other relief to which such party may be
entitled.

	21.	 	If fulfillment of any provision of this Agreement, at the time such fulfillment shall be due,
shall transcend the limit of validity prescribed by law, then the obligation to be fulfilled
shall be reduced or modified to the limit of such validity; and if any clause or provision
contained herein operates or would operate to invalidate this Agreement in whole or in part,
such clause or provision alone shall be held ineffective as though not herein contained, and
the remainder of this Agreement shall remain in full force and effect.

	22.	 	The parties acknowledge and agree that they are not relying on any representations, oral or
written, other than those expressly contained in this Agreement. This Agreement supersedes
all prior agreements, proposals, negotiations, conversations, discussions, and course of
dealing between the parties regarding the subject matter covered herein. This Agreement
constitutes the entire Agreement between the parties regarding the severance of Executive’s
employment and all other issues addressed herein. No modification of this Agreement will be
binding upon the parties unless set forth in a writing signed by Executive and an authorized
representative of Crawford that specifically references this Agreement and the provision that
the parties intend to modify.

	23.	 	Executive hereby acknowledges and represents that: (a) Executive has been given the
opportunity to consider the terms of this Agreement for at least 21 days before signing; (b)
Executive is hereby advised in writing to consult with an attorney prior to signing this
Agreement; and (c) Executive’s signing of this Agreement is in exchange for valuable and good
consideration to which Executive would not otherwise be entitled.

	24.	 	This Agreement shall not become effective or enforceable until 12:01 a.m. EDT time on the
eighth (8th) day after it is signed by Executive. 12:01 a.m. on the eighth (8th) day

-6-

 

	 	 	after Executive signs this Agreement shall be known as the “Effective Date.” Executive may
revoke this Agreement at any time before the Effective Date. In the event Executive chooses
to revoke this Agreement, Executive shall give written notice of such revocation to Allen W.
Nelson, Executive Vice President — General Counsel, Crawford & Company, 5620 Glenridge
Drive, N.E., Atlanta, Georgia 30342 fax number (404)847-4066, via hand delivery or
facsimile, before the Effective Date. If Executive revokes this Agreement, he will not be
entitled to any of the consideration described in this Agreement.

	25.	 	Executive affirms that he has read and understands this Agreement and he signs this Agreement
knowingly, voluntarily, and of his own free will.

	 	 	 	 	 
	AGREED TO:

 	 	 
	/s/  R. R. Kulbick
 	 	 
	Executive 	 	 
	 
	Date:  1/29/07 	 	 
	 
	CRAWFORD & COMPANY

 	 	 
	By:  	/s/ Allen W. Nelson
 	 	 
	 	Title: 	EVP: General Counsel & Corporate Secretary 	 	 
	 
	Date:  29 Jan 07 	 	 
	 

-7-EX-10.36 Form of Retainer Stock Award Agreement

 

EXHIBIT 10.36

BURGER KING HOLDINGS, INC.

2006 OMNIBUS INCENTIVE PLAN

FORM OF RETAINER DEFERRED STOCK AWARD

     Unless defined in this Deferred Stock Award Agreement (this “Award Agreement”), capitalized
terms will have the same meanings ascribed to them in the Burger King Holdings, Inc. 2006 Omnibus
Incentive Plan (as it may be amended from time to time, the “Plan”).

     Pursuant to Section 9 of the Plan, you have been granted Deferred Stock on the following terms
and subject to the provisions of the Plan, which is incorporated herein by reference. In the event
of a conflict between the provisions of the Plan and this Award Agreement, the provisions of the
Plan will govern.

Participant:

Total Number of Shares

of Deferred Stock:

Grant Date:

Calendar Year:

     By your signature and the signature of the Company’s representative below, you and the Company
agree that this Award of Deferred Stock is granted under and governed by the terms and conditions
of the Plan and the terms and conditions set forth in the attached Exhibit A.

	 	 	 	 	 	 	 	 	 
	PARTICIPANT	 	 	 	BURGER KING HOLDINGS, INC.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Title:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Date:	 	 
	 

	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

TERMS AND CONDITIONS OF THE

RETAINER DEFERRED STOCK AWARD

Payment for Shares.

     This Award is issued pursuant to the Company’s compensation program for the Board and
represents your election to received Deferred Stock in lieu of the [cash payment to you of your
annual Board retainer] [and] [committee chair fee] for the calendar year set forth on the first
page hereof. By accepting this Award, you acknowledge that you will not have any right to receive
[an annual Board retainer] [and] [a committee chair fee] in cash.

Dividend Equivalents.

     To the extent dividends are paid on Shares while the Deferred Stock remains outstanding, you
shall receive an amount in cash for each share of Deferred Stock equal to the amount per share of
the dividend.

Termination.

     Upon termination of your service on the Board for Cause, you will forfeit all of your Deferred
Stock without any consideration due to you.

     For purposes of this Award Agreement, the term “Cause” shall mean your (A) gross negligence or
willful misconduct in connection with your duties as a member of the Board or refusal, after
demand, to substantially perform such duties, (B) dishonesty, fraud, embezzlement, misappropriation
of funds or theft or (C) conviction of, or plea of nolo contendere to, a felony or other serious
crime.

Settlement.

     Subject to the terms and conditions of this Award, the Company shall deliver to you Shares
underlying the Deferred Stock as soon as practicable following the termination of your service on
the Board. You will have no rights of a shareholder with respect to the Deferred Stock until such
Shares have been delivered to you.

Taxes.

     You acknowledge that you are required to pay any withholding or other applicable taxes that
may be due as a result of receipt of this Award or the settlement of this Award.

A-2 

 

Company’s Right of Offset

     If you become entitled to a distribution of benefits under this Award, and if at such time you
have any outstanding debt, obligation, or other liability representing an amount owing to the
Company or any of its Affiliates, then the Company or its Affiliates, upon a determination by the
Committee, and to the extent permitted by applicable law, may offset such amount so owing against
the amount of benefits otherwise distributable. Such determination shall be made by the Committee.

Securities Laws.

     By accepting this Award, you acknowledge that federal securities laws and/or the Company’s
policies regarding trading in its securities may limit or restrict your right to buy or sell
Deferred Stock and Shares, including, without limitation, sales of Shares acquired in connection
with your Deferred Stock. You agree to comply with such federal securities law requirements and
Company policies, as such laws and policies are amended from time to time.

Entire Agreement; Dispute Resolution; Governing Law.

     The Plan and this Award Agreement constitute the entire agreement of the parties with respect
to the subject matter hereof and supersede in their entirety all prior undertakings and agreements
of the Company and you with respect to the subject matter hereof. This Award Agreement may not be
modified in a manner that adversely affects your rights heretofore granted under the Plan, except
with your consent or to comply with applicable law as provided for in Section 14 of the Plan. This
Award Agreement is governed by the laws of the State of Delaware.

     The Company and you agree that any dispute or controversy arising under or in connection with
this Award Agreement shall be resolved by final and binding arbitration before the American
Arbitration Association (“AAA”). The arbitration shall be conducted in accordance with AAA’s
National Rules for the Resolution of Employment Disputes then in effect at the time of the
arbitration. The arbitration shall be held in Miami, Florida.

     By signing this Award Agreement, you acknowledge receipt of a copy of the Plan and represent
that you are familiar with the terms and conditions of the Plan, and hereby accept this Award
subject to all provisions in this Award Agreement and in the Plan. You hereby agree to accept as
final, conclusive and binding all decisions or interpretations of the Committee upon any questions
arising under the Plan or this Award Agreement.

A-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]