Document:

EX-4.1

 Exhibit 4.1 

[FORM OF GLOBAL NOTE] 
 This
Security is a Book-Entry Security within the meaning of the Indenture hereinafter referred to and is registered in the name of BT Globenet Nominees Limited as nominee for the common depositary for Euroclear and Clearstream. This Security is not
exchangeable for Securities registered in the name of a Person other than the Depository or its nominee except in the limited circumstances described in the Indenture, and no transfer of this Security (other than a transfer of this Security as a
whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository) may be registered except in the limited circumstances described in the Indenture. 

Unless this certificate is presented by an authorized representative of Deutsche Bank AG, London Branch, as common depositary for Clearstream
Banking, société anonyme and Euroclear Bank S.A./N.V., as operator of the Euroclear System (the “Depository”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is
registered in the name of BT Globenet Nominees Limited or in such other name as is requested by an authorized representative of the Depository (and any payment is made to BT Globenet Nominees Limited or to such other entity as is requested by an
authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, BT Globenet Nominees Limited, has an interest herein. 

THE PROCTER & GAMBLE COMPANY 

ISIN: XS1314318301 
 Euroclear and
Clearstream Common Code No.: 131431830 
 CUSIP: 742718 EL9 
  

			
	No. [    ]	 	€[        ]        

 The Procter & Gamble Company, a corporation duly organized and existing under the laws of Ohio
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to BT Globenet Nominees Limited as nominee for the common depositary for
Clearstream Banking, société anonyme, and Euroclear Bank S.A./N.V., as operator of the Euroclear System, or registered assigns, the principal sum of [        ]
(€[        ]) on November 2, 2023 (the “Stated Maturity”) and to pay interest thereon from and including November 2, 2015 or from and including the most recent Interest Payment Date to
which interest has been paid or duly provided for, annually in arrear on November 2 of each year, commencing November 2, 2016, at the per annum rate of 1.125%, until the principal hereof is paid or made available for payment. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such 

 
interest, which shall be the Business Day immediately preceding such Interest Payment Date; provided, however, that interest payable on any Maturity date shall be payable to the person to
whom the principal of the Securities shall be payable. 
 Any such interest not so punctually paid or duly provided for will forthwith cease
to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and interest on this Security will be made in euros at the office or agency of the Company
maintained for that purpose in London; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto in whose name this Security (or one or more
Predecessor Securities) are registered at the close of business on the Regular Record Date at such address as shall appear in the Security Register or by wire transfer of immediately available funds to an account specified in writing by such holder
to the Company and the Trustee prior to the relevant record date. 
 Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: [                    ] 

 

			
	THE PROCTER & GAMBLE COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

 ATTEST: 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

 This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	  

		 	Authorized Officer

 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an Indenture, dated as of September 3, 2009 (herein called the “Indenture”), between the Company and Deutsche Bank Trust Company Americas, as Trustee (herein
called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, which series is initially limited in aggregate principal amount to €1,250,000,000 subject to the provisions described herein under “Further Issues.” 

Interest 
 This Security will bear
interest at the rate of 1.125% per year. Interest on this Security is payable annually in arrear on November 2 of each year, and on any Maturity date (each, an “Interest Payment Date”), commencing November 2, 2016 and ending
on any Maturity date, to the persons in whose names this Security is registered at the close of business on the Business Day immediately preceding the related Interest Payment Date; provided, however, that interest payable on any Maturity
date shall be payable to the person to whom the principal of this Security shall be payable. 
 Interest payable on any Interest Payment
Date or Maturity date shall be the amount of interest accrued from, and including, the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue date, if no
interest has been paid or duly provided for with respect to this Security) to, but excluding, such Interest Payment Date or Maturity date, as the case may be. If any Interest Payment Date is not a Business Day at the relevant place of payment, the
related payment of interest will be made on the next day that is a Business Day at such place of payment as if payment were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from and after
such date to the immediately succeeding Business Day. If the Maturity date or redemption date of this Security falls on a day that is not a Business Day at the relevant place of payment, the related payment of interest, if any, and principal and
premium, if any, will be made on the next day that is a Business Day at such place of payment as if payment were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from and after such date to
the immediately succeeding Business Day. 
 Where interest is to be calculated in respect of a period which is equal to or shorter than the
relevant period for which interest is to be calculated (an “Interest Period”), it will be calculated on the basis of the actual number of days in the relevant period, from and including the date from which interest begins to accrue, to,
but excluding, the date on which it falls due, divided by the number of days in the Interest Period in which the relevant period falls (including the first such day but excluding the last). 

 “Business Day” means any day that is not a Saturday or Sunday and that is not a day on
which banking institutions are authorized or obligated by law or executive order to close in The City of New York or London and, for any place of payment outside of The City of New York or London, in such place of payment, and on which the
Trans-European Automated Real-time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, operates. 
 The
term “Maturity,” when used with respect to this Security, shall mean the date on which the principal of this Security or an installment of principal becomes due and payable as herein provided or as provided in the Indenture, whether at the
Stated Maturity or by declaration of acceleration, call for redemption, repayment or otherwise. 
 Optional Redemption 

The Company will have the option to redeem the Securities, in whole or in part, at its option at any time, at a redemption price equal to the
greater of (1) 100% of the principal amount of the Securities to be redeemed, plus accrued interest on the Securities to be redeemed to, but excluding, the date on which the Securities are to be redeemed, or (2) the sum of the present
values of the remaining scheduled payments of principal and interest on the Securities to be redeemed, not including any portion of these payments of interest accrued as of the date on which the Securities are to be redeemed, discounted to the date
on which the Securities are to be redeemed on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined below), plus 15 basis points, plus accrued interest on the Securities to be redeemed to, but excluding, the date
on which the Securities are to be redeemed. 
 “Comparable Government Bond Rate” means the price, expressed as a percentage
(rounded to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the Securities to be redeemed, if they were to be purchased at such price on the third Business Day prior to the date fixed for redemption,
would be equal to the gross redemption yield on such Business Day of the Comparable Government Bond (as defined below) on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business
Day as determined by an independent investment bank selected by the Company. 
 “Comparable Government Bond” means, in relation to
any Comparable Government Bond Rate calculation, at the discretion of an independent investment bank selected by the Company, a German government bond whose maturity is closest to the maturity of the Securities to be redeemed, or if such independent
investment bank in its discretion determines that such similar bond is not in issue, such other German government bond as such independent investment bank may, with the advice of three brokers of, and/or market makers in, German government bonds
selected by the Company, determine to be appropriate for determining the Comparable Government Bond Rate. 
 The Securities are also subject
to redemption if certain events occur involving United States taxation, as described herein under “Tax Redemption.” 

 Additional Amounts 

All payments of principal and interest in respect of this Security will be made free and clear of, and without deduction or withholding for or
on account of any present or future taxes, duties, assessments or other governmental charges of whatsoever nature imposed, levied, collected, withheld or assessed by the United States or any political subdivision or taxing authority of or in the
United States (collectively, “Taxes”), unless such withholding or deduction is required by law. 
 In the event such withholding
or deduction of Taxes is required by law, subject to the limitations described below, the Company will pay to the holder or beneficial owner of this Security that is not a U.S. Holder (as defined below) such additional amounts (“Additional
Amounts”) as may be necessary in order that every net payment by the Company or any paying agent of principal of or interest on this Security (including upon redemption), after deduction or withholding for or on account of such Taxes, will not
be less than the amount provided for in such Security to be then due and payable before deduction or withholding for or on account of such Taxes. 

A “U.S. Holder” is defined as any beneficial owner of this Security that is for U.S. federal income tax purposes: (i) an
individual who is a citizen or resident of the United States; (ii) a corporation created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia; (iii) an estate, the income of which is
subject to U.S. federal income taxation regardless of the source of that income; or (iv) a trust, if (1) a U.S. court is able to exercise primary supervision over the trust’s administration and one or more “United States
persons” (within the meaning of the Internal Revenue Code) has the authority to control all of the trust’s substantial decisions, or (2) the trust has a valid election in effect under applicable Treasury regulations to be treated as a
“United States person.” 
 However, the Company’s obligation to pay Additional Amounts shall not apply to: 

(1) any Taxes which would not have been so imposed but for: 

a. the existence of any present or former connection between such holder or beneficial owner (or between a fiduciary, settlor, beneficiary,
member or shareholder or other equity owner of, or a person having a power over, such holder or beneficial owner, if such holder or beneficial owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity)
and the United States, including, without limitation, such holder or beneficial owner (or such fiduciary, settlor, beneficiary, member, shareholder or other equity owner or person having such a power) being or having been a citizen or resident or
treated as a resident of the United States or being or having been engaged in a trade or business in the United States or being or having been present in the United States or having or having had a permanent establishment in the United States, 

b. the failure of such holder or beneficial owner to comply with any requirement under United States tax laws and regulations to establish
entitlement to a partial or complete exemption from such Taxes (including, but not limited to, the requirement to provide Internal Revenue Service Form W-8BEN, Form W-8BEN-E, Form W-8ECI, or any subsequent versions thereof or successor thereto), or

 c. such holder’s or beneficial owner’s present or former status as a personal holding
company or a foreign personal holding company with respect to the United States, as a controlled foreign corporation with respect to the United States, as a passive foreign investment company with respect to the United States, as a foreign tax
exempt organization with respect to the United States or as a corporation which accumulates earnings to avoid United States federal income tax; 

(2) any Taxes imposed by reason of the holder or beneficial owner: 

a. owning or having owned, directly or indirectly, actually or constructively, 10% or more of the total combined voting power of all classes
of the Company’s stock, 
 b. being a bank receiving interest described in section 881(c)(3)(A) of the Internal Revenue Code or 

c. being a controlled foreign corporation with respect to the United States that is related to the Company by stock ownership; 

(3) any Taxes which would not have been so imposed but for the presentation by the holder or beneficial owner of such Security for payment on
a date more than 10 days after the date on which such payment became due and payable or the date on which payment of this Security is duly provided for and notice is given to holders, whichever occurs later, except to the extent that the holder or
beneficial owner would have been entitled to such additional amounts on presenting such Security on any date during such 10-day period; 

(4) any estate, inheritance, gift, sales, transfer, personal property, wealth, interest equalization or similar Taxes; 

(5) any Taxes which are payable otherwise than by withholding from payment of principal of or interest on such Security; 

(6) any Taxes which are payable by a holder that is not the beneficial owner of this Security, or a portion of this Security, or that is a
fiduciary, partnership, limited liability company or other similar entity, but only to the extent that a beneficial owner, a beneficiary or settlor with respect to such fiduciary or member of such partnership, limited liability company or similar
entity would not have been entitled to the payment of an Additional Amount had such beneficial owner, settlor, beneficiary or member received directly its beneficial or distributive share of the payment; 

(7) any Taxes required to be withheld by any paying agent from any payment of principal of or interest on any Security, if such payment can be
made without such withholding by any other paying agent; 

 (8) any Taxes required to be withheld or deducted where such withholding or deduction is imposed
pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such European Council Directive; 

(9) any Taxes that would not have been imposed in respect of this Security or coupons with respect thereto if such Security or coupon had been
presented for payment to another paying agent in a Member State of the European Union; 
 (10) any Taxes imposed under Sections 1471 through
1474 of the Internal Revenue Code (or any amended or successor provisions that are substantively comparable) and any current or future regulations or official interpretations thereof; or 

(11) any combination of items (1), (2), (3), (4), (5), (6), (7), (8), (9) and (10). 

For purposes of this section, the acquisition, ownership, enforcement or holding of or the receipt of any payment with respect to this
Security will not constitute a connection (i) between the holder or beneficial owner and the United States or (ii) between a fiduciary, settlor, beneficiary, member or shareholder or other equity owner of, or a person having a power over,
such holder or beneficial owner if such holder or beneficial owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity and the United States. 

Any reference in this Security or the Indenture to principal or interest shall be deemed to refer also to Additional Amounts which may be
payable under the provisions of this section. 
 The Company will pay all stamp and other duties, if any, which may be imposed by the United
States or any political subdivision thereof or taxing authority therein with respect to the issuance of this Security. 
 Except as
specifically provided in this Security, the Company will not be required to make any payment with respect to any tax, duty, assessment or other governmental charge imposed by any government or any political subdivision or taxing authority of or in
the United States. 
 In addition, the Company undertakes that, to the extent permitted by law, the Company will maintain a paying agent
that will not require withholding or deduction of tax pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such European Council
Directive. 
 Tax Redemption 
 This
Security may be redeemed at the Company’s option, in whole but not in part, at a redemption price equal to 100% of the principal amount of this Security to be redeemed, together with interest accrued and unpaid to the date fixed for redemption,
at any time, on giving not less than 30 nor more than 60 days’ notice, if 

 (1) the Company has or will become obligated to pay Additional Amounts as a result of any change
in or amendment to the laws, regulations or rulings of the United States or any political subdivision or any taxing authority of or in the United States affecting taxation, or any change in or amendment to an official application, interpretation,
administration or enforcement of such laws, regulations or rulings, which change or amendment is announced or becomes effective on or after October 27, 2015, or 

(2) any action shall have been taken by a taxing authority, or any action has been brought in a court of competent jurisdiction, in the United
States or any political subdivision or taxing authority of or in the United States, including any of those actions specified in (1) above, whether or not such action was taken or brought with respect to the Company, or any change,
clarification, amendment, application or interpretation of such laws, regulations or rulings shall be officially proposed, in any such case on or after October 27, 2015, which results in a substantial likelihood that the Company will be
required to pay Additional Amounts on the next Interest Payment Date. 
 However, no such notice of redemption shall be given earlier than
90 days prior to the earliest date on which the Company would be, in the case of a redemption for the reasons specified in (1) above, or there would be a substantial likelihood that the Company would be, in the case of a redemption for the
reasons specified in (2) above, obligated to pay such Additional Amounts if a payment in respect of this Security were then due and at the time such notification of redemption is given such circumstance remains in effect. 

Prior to the publication of any notice of redemption pursuant to this section, the Company will deliver to the Trustee under the Indenture:

 (i) a certificate signed by one of the Company’s duly authorized officers stating that the Company is entitled to effect such
redemption and setting forth a statement of facts showing that the conditions precedent to the Company’s right so to redeem have occurred, and 

(ii) in the case of a redemption for the reasons specified in (1) or (2) above, a written opinion of independent legal counsel of
recognized standing to the effect that the Company has or will become obligated to pay such Additional Amounts as a result of such change or amendment or that there is a substantial likelihood that the Company will be required to pay such Additional
Amounts as a result of such action or proposed change, clarification, amendment, application or interpretation, as the case may be. 
 Such
notice, once delivered by the Company to the Trustee, will be irrevocable. 

 Events of Default 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 Defeasance 

The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of this Security and (b) certain
restrictive covenants and certain Events of Default upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Security. 

Amendments 
 The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of at least a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of at least a
majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

Book Entry Security 
 This Security is a
Book-Entry Security registered in the name of a nominee of a common depositary of the Depository. This Book-Entry Security is exchangeable for Securities registered in the name of a person other than the Depository or the nominee of its common
depositary only in the limited circumstances hereinafter described. Unless and until it is exchanged in whole or in part for definitive Securities in certificated form, this Book-Entry Security may not be transferred except as a whole by the
Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository. 
 The
Securities represented by this Book-Entry Security are exchangeable for definitive Securities in certificated form of like tenor as such Securities in denominations of €100,000 and integral multiples of €1,000 in excess thereof only if
(i) the Company advises the Trustee in writing that the Depository is no longer willing or able to discharge its responsibilities properly 

 
and the Company is unable to locate a qualified successor within 90 days; (ii) an Event of Default has occurred and is continuing under the Indenture; or (iii) the Company, at its
option, elects to terminate the book-entry system through the Depository. Any Securities that are exchangeable pursuant to the preceding sentence are exchangeable for certificated Securities issuable in authorized denominations and registered in
such names as the Depository shall direct. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of definitive Securities in certificated form is registrable in the Security Register, upon surrender of the
definitive Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on the definitive Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. Subject to the foregoing, this Book-Entry Security is not exchangeable, except for a Book-Entry Security or Book-Entry Securities
of this issue of the same principal amount to be registered in the name of the Depository or its nominee. 
 Notices 

So long as this Security is represented by this certificate and this certificate is held on behalf of Euroclear and Clearstream, notices to
Holders may be given by delivery of the relevant notice to Euroclear and Clearstream, for communication by it to entitled accountholders in substitution for notification as required by the terms and conditions of this Security. 

The Trustee will mail notices by first class mail, postage prepaid, to each registered holder’s last known address as it appears in the
Security Register. The Trustee will only mail these notices to BT Globenet Nominees Limited, as the registered holder of the Securities, unless the Company reissues the Securities to holders or their nominees in fully certificated form. 

Further Issues 
 The Company may from time
to time, without notice to or the consent of the registered holders of the Securities, create and issue further notes ranking equally with the Securities in all respects. Such further notes may be consolidated and form a single series with the
Securities and have the same terms as to status, redemption or otherwise as the Securities (other than the issue date of such further notes and first payment of interest following the issue date of such further notes). 

Governing Law 
 The Indenture and
Securities for all purposes shall be governed by and construed in accordance with the laws of the State of New York. 

 Miscellaneous 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.Exhibit

August 24, 2015

Michael Rutledge
2813 Sandray Court
Plano, TX 75093

Re:    Your Voluntary Separation

Dear Michael:

This letter agreement (this “Agreement”) is intended to confirm the details of your voluntary separation, as an officer and employee and in any other capacity, from B G Staff Services Inc. and all of its subsidiaries, affiliates and related entities (referred to collectively as the “Company” or “we”), to secure your agreement regarding your pay and other benefits, and to obtain your waiver of any claims against the Company. In consideration of the promises and conditions set forth below, and intending to be legally bound, you and the Company agree as follows:

1.Separation from Employment: Your last day of employment with the Company, August 24, 2015, will be referred to as the “Separation Date.” You and the Company acknowledge that your employment will end at the close of business on the Separation Date and that you are eligible to receive certain benefits as further set forth in this Agreement. You also will cease to serve as an officer of the Company and in any other representative capacity of the Company, all as of your Separation Date. This includes, without limitation, all duties as an officer of BG Staffing, Inc. and any and all positions as an officer of any subsidiaries or affiliates of BG Staffing, Inc.
2.    Return of Company Property: You agree that you will immediately return to the Company all Company property, including, without limitation, reports, files, memoranda, records, computer hardware, software, credit cards, laptop computer, door and file keys, computer access codes or disks and instructional manuals, and that you will not retain any copies, duplicates, reproductions or excerpts thereto.
3.    Separation Benefits: Provided you (i) sign this Agreement and do not revoke your signature as set forth below in Paragraphs 6 and 7, and (ii) comply with the terms of this Agreement, the Company will provide you with the payments and other benefits described below. Income will be imputed to you in connection with these payments and benefits as required by applicable law and the Company will withhold any amounts required by applicable law. You will be responsible for any taxes related to your receipt of this income. You acknowledge that the provision of the pay and other benefits specified below completely satisfies any obligations that the Company has or may have to you.
		
	(a)
	You will be paid your accrued and unpaid salary through the Separation Date, in accordance with the Company’s normal payroll practices, and you acknowledge that the Company does not owe you any accrued but unused PTO pay through the Separation Date. You will be reimbursed in accordance with Company policy for any substantiated but previously unreimbursed business expenses, provided you furnish the Company with proper evidence of and a reimbursement request for such business expenses within five business days from the date of this Agreement. Payments under various employee plans, programs, and other arrangements are addressed elsewhere in this Agreement.

		
	(b)
	Beginning with the first regular pay period following the Effective Date (as defined below), you will be paid separation payments of $4,038.46 per week for up to eight weeks. Separation payments will cease as of the week that you receive an offer of gainful employment in any capacity. You agree that you will use your best efforts to become gainfully employed and will report any offer of employment to the Company. You acknowledge that the separation payments are not an amount otherwise due to you.

		
	(c)
	Information regarding your health and welfare benefit coverage will be provided by the Company’s third-party administrator. If you elect COBRA continuation coverage for medical benefits, the cost of coverage will be at your expense.

		
	(d) 
	Under the BG Staffing, Inc. 2013 Long-Term Incentive Plan, as amended, your unvested awards under that plan are forfeited as of your Separation Date. Your vested, outstanding options under that plan as of the Separation Date will remain exercisable for three months from your Separation Date, subject to the terms of the Long-Term Incentive Plan and the applicable stock option agreements. You acknowledge that you have read and understand the terms of the Long-Term Incentive Plan, as amended.

		
	(e) 
	Pursuant to the terms of the Company’s 401(k) plan and in compliance with federal law, your eligibility for contributions under the plan will end on your Separation Date. You will be eligible for a distribution from the plan in accordance with its terms.

You authorize the Company to deduct from the amounts set forth in this Paragraph 3 amounts, if any, owed by you to the Company for personal expenditures charged to the Company or other amounts that you have agreed to pay to or are contractually obligated to pay the Company.
4.    Cooperation: You agree that, upon reasonable notice and without additional compensation, you will make yourself available to the Company regarding any inquiry associated with any present or future internal investigation or any present or future pending or threatened administrative, regulatory, or judicial proceeding or claim, whether by or against the Company or in connection with the business of the Company. You understand and agree that your cooperation may include, but is not limited to, making yourself available upon reasonable notice for interviews and factual investigations, appearing at the Company’s request to give testimony without requiring service of a subpoena or other legal process, meeting with the Company and/or its attorneys, and providing the Company with pertinent information and/or relevant documents which are in, or may come into, your possession. You further agree that any communications to or by you, whether written, verbal, or electronic, regarding any dispute or litigation in which the Company is involved or may become involved with a third party or parties will require you to give notice to the Company and may not take place outside of the attendance and/or participation by Company counsel. During this performance, you will not be considered an employee of the Company within the meaning or application of any federal, state or local laws or regulations, including, but not limited to, laws or regulations covering unemployment insurance, retirement benefits, workers’ compensation insurance, industrial accident, labor or taxes of any kind. Furthermore, you will have no authority to bind the Company, and will not be eligible to participate in any benefit plans, programs or arrangements offered, or which may in the future be provided, by the Company to its employees. Any consulting services that you may be asked to provide the Company beyond the scope of this Paragraph will be addressed in a separate written agreement.
5.    Waiver and Release: In exchange for the special separation benefits promised to you in this Agreement, and as a material inducement for that promise, you hereby WAIVE, RELEASE and FOREVER DISCHARGE the Company and/or related persons from any and all claims, demands, causes of action, attorneys’ fees, rights and liabilities of every kind (whether or not you now know them to exist) which you ever had, now have or may have against the Company and/or related persons for any reason or any matter, cause or thing whatsoever, through the later of the Separation Date or the date you execute this Agreement (collectively, “Claims”), including, but not limited to, any and all Claims arising out of or related to your employment or service with the Company or the termination of your employment or service, or under any employment agreement, stock option agreement, restricted stock agreement or change-in-control severance benefits agreement to which you are a party. This WAIVER and RELEASE includes, but is not limited to, any Claim for unlawful discrimination under the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”); Title VII of the Civil Rights Act of 1964, as amended; the Americans with Disabilities Act of 1990, 42 U.S.C. § 1981; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act of 1993; the Employee Retirement Income Security Act of 1974; the Civil Rights Act of 1991; the Equal Pay Act; and any Claim under any other federal, state or local constitution, statute, rule, regulation or ordinance relating to your employment, the termination of your employment, or for breach of contract, wrongful discharge, tort or other civil wrong. To the fullest extent permitted by law, you PROMISE NOT TO SUE or bring any lawsuit related to the Claims you are waiving by this Agreement against the Company and/or related persons in the future, individually or as a member of a class, except to seek a determination of the validity of the waiver of your rights under the ADEA. You will immediately withdraw with prejudice any such lawsuit that you have initiated before the Effective Date (as defined below) of this Agreement. You acknowledge that, although this provision prohibits you from filing or maintaining a lawsuit concerning Claims covered by this Agreement, it does not prohibit you from lodging a charge or complaint with any governmental agency or participating in a governmental agency investigation. Notwithstanding the foregoing, you agree to waive your right to recover monetary damages in any charge, complaint or lawsuit filed by you or by anyone else on your behalf. You specifically release all Claims under the ADEA relating to your employment and its termination.
		
	(a)
	If you violate this Agreement by bringing or maintaining a lawsuit contrary to this Paragraph, you will pay all costs and expenses of the Company and/or related persons in defending against such charges, claims or actions brought by you or on your behalf, including reasonable attorneys’ fees, and will be required to give back, at the Company’s sole discretion, the value of anything paid by the Company in exchange for this Agreement. The remedies set forth in this subparagraph will not apply to any challenge to the validity of the waiver and release of your rights under the ADEA. If you challenge the validity of the waiver and release of your rights under the ADEA, then the Company’s right to attorneys’ fees and costs will be governed by the provisions of the ADEA, so that the Company may recover such fees and costs if the lawsuit is brought by you in bad faith. Any such action permitted to the Company by this subparagraph, however, will not affect or impair any of your obligations under this Agreement, including without limitation, the release of Claims in Paragraph 5.

		
	(b)
	As referred to in this Agreement, “the Company and/or related persons” includes the Company, its parents, subsidiaries, affiliates and divisions, any employee benefit plan or trust sponsored by the Company, its parents, subsidiaries, affiliates and divisions, any fiduciaries or administrative personnel involved with those employee benefit plans, the respective successors and assigns of all the aforementioned individuals and entities, and all of their past and present directors, officers, representatives, shareholders, agents, and employees, whether as individuals or in their official capacity, and the respective heirs and personal representatives of any of them.

		
	(c)
	This Agreement and your promise not to sue are binding on you, your heirs, legal representatives and assigns.

		
	(d)
	You do not waive any of your vested benefits under the Company’s 401(k) plan, BG Staffing, Inc. 2013 Long-Term Incentive Plan (or under your stock option agreements under that plan), or any rights under applicable workers’ compensation laws.

6.    Employee Review: You acknowledge that you have read this Agreement in its entirety, fully understand its meaning and are executing this Agreement voluntarily and of your own free will with full knowledge of its significance. You acknowledge and warrant that you have had the opportunity to consider for 21 days the terms and provisions of this Agreement. We will keep the offer open for that period of time. You are advised to consult with an attorney before you sign this Agreement. You may execute this Agreement prior to the conclusion of the 21-day period, and if you elect to do so, you acknowledge that you have done so voluntarily. If we do not receive this Agreement executed within the 21-day period, this offer will be deemed withdrawn and this Agreement will be void.
7.    Revocation Period and Effective Date: You have the right to revoke this Agreement within seven days after you sign it. Your notice of revocation must be in writing and delivered pursuant to Paragraph 16. This Agreement will not be effective or enforceable against the Company until eight days after it has received your signed copy of this Agreement. That will be the “Effective Date” of this Agreement. If you timely revoke this Agreement, it will not become effective, and you will not receive the special severance benefits.
8.    Confidentiality; Non-disparagement: You agree to keep the terms of this Agreement confidential. You agree not at any time to talk about, write about, discuss or otherwise publicize the terms or existence of this Agreement to anyone other than your legal, tax or other financial advisors or immediate family members, except in response to a subpoena, court directive or otherwise as required by law. Any such disclosure to any of the preceding will also include a disclosure of this confidentiality provision and the securing of such person’s or entity’s agreement to be bound by it. You will not, directly or indirectly, disparage, denigrate or defame the Company and/or related persons, or any of their respective business operations, products or services, or directly or indirectly encourage others to do so.
9.    Entire Agreement: Unless otherwise stated herein, this Agreement sets forth the entire agreement between the parties, and fully supersedes any and all prior agreements or understandings between the parties pertaining to the subject matter in this Agreement.
10.    No Solicitation: You agree that for one year following the Separation Date, you will not, directly or indirectly, solicit any employee or independent contractor of the Company to leave his, her or its employment or service with the Company, or solicit any other person or entity who has a business relationship with the Company to terminate such business relationship, nor will you otherwise participate in or assist any such solicitation by any other person or entity.
11.    Company Confidential and Proprietary Information: You agree that you will not at any time, except as required by law, disclose to anyone any confidential or proprietary information of the Company or utilize such confidential or proprietary information for your own benefit or for the benefit of third parties. The term “confidential or proprietary information” as used in this Agreement means (a) confidential or proprietary information of the Company, including without limitation, information received from third parties under confidential conditions, and (b) other technical, business or financial information or trade secrets or proprietary information (including, but not limited to, information relating to customers, pricing, costs, employees, legal affairs, business plans, technology services, data and information, financial matters and any other information of economic value to the Company which is not in the public domain).
12.    Attorney-Client Privilege: Nothing in this Agreement may be construed as a waiver of attorney-client privilege by the Company.
13.    No Other Assurances: You acknowledge that in deciding to sign this Agreement you have not relied on any promises or commitments, whether spoken or in writing, made to you by any Company representative, except for those expressly stated in this Agreement. This Agreement constitutes the entire understanding and agreement between you and the Company, and replaces and cancels all previous agreements and commitments, whether spoken or written, in connection with the matters described herein, provided that this Agreement does not replace or supersede any other confidentiality, non-compete, non-solicitation or non-disparagement agreements in favor of the Company to which you are a party or are bound, which other such agreements shall be in addition to this Agreement and shall survive in accordance with their respective terms and provisions .
14.    Binding Effect: This Agreement will be binding on you and your heirs, administrators, representatives, executors, successors and assigns, and will inure to the benefit of you and your heirs, administrators, representatives, executors, successors, and assigns. You may not pledge, hypothecate, anticipate or assign benefits or rights under this Agreement, except by will or the laws of descent and distribution.
15.    Governing Law and Jurisdiction; Waiver of Jury Trial: This Agreement will be governed by and enforced in accordance with the laws of the State of Texas, without regard to its conflicts of law principles. Any action arising out of or relating to this Agreement must be brought and prosecuted only in Plano, Texas. The parties agree to waive any right they may have to a jury trial in any action arising out of or relating to this Agreement.
16.    Notices: Any notice required under this Agreement must be provided in writing and delivered via one of the following methods: (a) personally; (b) sent by U.S. registered or certified mail, return receipt requested; or (c) sent prepaid by a nationally recognized overnight courier that provides delivery confirmation. Notice from you to the Company should be addressed to the attention of the Company’s Chief Executive Officer at 5850 Granite Parkway, Suite 730, Plano, Texas 75024. Notice from the Company to you will be provided personally to you or sent to your mailing address, which is the address for you set forth on the first page of this Agreement. Each party must notify the other of any change in address. Notice will be deemed to be given on the date of personal delivery or the delivery date specified on a return receipt or other delivery confirmation.
17.    Modification in Writing: This Agreement cannot be changed or modified except by written agreement signed by both you and an authorized representative of the Company.
18.    No Admission of Liability: This Agreement does not constitute an admission of any unlawful discriminatory acts or liability of any kind by the Company and/or related persons, or anyone acting under their supervision or on their behalf. This Agreement may not be used or introduced as evidence in any legal proceeding, except to enforce its terms.
19.    Counterparts: This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered will be an original, but all such counterparts will together constitute one and the same instrument. Each counterpart may consist of a number of copies hereof each signed by less than all, but together signed by all, of the parties hereto. Photographic and fax copies of signed counterparts may be used in lieu of the originals of this Agreement for any purpose.

BY THIS AGREEMENT YOU GIVE UP CERTAIN LEGAL RIGHTS. YOU HAVE THE RIGHT TO AND SHOULD CONSULT WITH AN ATTORNEY BEFORE YOU SIGN IT.
***************
I have read this AGREEMENT AND GENERAL RELEASE and I understand all of its terms. I enter into and sign this AGREEMENT AND GENERAL RELEASE knowingly and voluntarily, with full knowledge of what it means.

BG STAFFING, INC.

By:    /s/ L. Allen Baker, Jr.                       
L. Allen Baker, Jr., Chief Executive Officer

EMPLOYEE

/s/ Michael A. Rutledge                
Michael Rutledge
Date:    August 24, 2015

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