Document:

Exhibit 10.1

                        SETTLEMENT AND RELEASE AGREEMENT
                        --------------------------------

     This Settlement and Release Agreement (`Agreement") is made and entered
into by and between Pamela J. Romano ("Employee"), and Zale Corporation ("Zale")
hereinafter collectively referred to as the "Parties."

                                    RECITALS
                                    --------

     WHEREAS, Employee has been employed by Zale as Group Senior Vice President
and President - Zales Division;

     WHEREAS, Employee and Zale executed an Employment Agreement on February 28,
2003 which covered the terms and conditions of Employee's employment with Zale
("Employment Agreement");

     WHEREAS, a genuine dispute arose between the parties concerning Romano's
employment with Zale, her termination therefrom and other issues raised in the
letter from Romano's attorney, Hal K. Gillespie ("Gillespie") dated January 12,
2005; and

     WHEREAS, the Parties desire to settle fully and finally, in the manner set
forth herein, all differences between them which have arisen, or which may
arise, prior to, or at the time of, the execution of this Agreement, including,
but in no way limited to, any and all claims and controversies arising out of
the employment relationship between Employee and Zale, including, but not
limited to, the Employment Agreement, and the cessation of Employee's employment
with Zale, effective January 5, 2005 (the "Separation Date"), and specifically
including any allegation of wrongdoing under Sarbanes-Oxley.

     NOW, THEREFORE, in consideration of the Recitals and the mutual promises,
covenants, and agreements set forth herein, the Parties covenant and agree as
follows:

     1. Release by Romano: Employee, for herself and on behalf of her attorneys,
heirs, assigns, successors, executors, and administrators, hereby GENERALLY
RELEASES, ACQUITS, AND DISCHARGES Zale, its current and former parent,
subsidiary, affiliated, and related corporations, firms, associations,
partnerships, and entities, their successors and assigns, and the current and
former owners, shareholders, directors, officers, employees, agents, attorneys,
representatives, and insurers of said corporations, firms, associations,
partnerships, and entities, and their guardians, successors, assigns, heirs,
executors, and administrators (hereinafter collectively referred to as the
"Releasees") from any and all claims, complaints, grievances, liabilities,
obligations, promises, agreements, damages, causes of action, rights, debts,
demands, controversies, costs, losses, and expenses (including attorneys' fees
and expenses) whatsoever, under any municipal, local, state, or federal law,
common or statutory, -- including, but in no way limited to, claims arising
under the Employment Agreement between the Parties, the Sarbanes-Oxley Act, the
Age Discrimination in Employment Act of 1967, 29 U.S.C. ss.621, et seq., as
amended, Title VII of the Civil Rights Act of 1964, 42 U.S.C. ss. 2000e, et
seq., as amended (including the Civil Rights Act of 1991), the Americans with

                                       1
<PAGE>

Disabilities Act of 1990, 42 U.S.C. ss.12101, et seq., as amended, the Employee
Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. ss.1001 et seq., as
amended, the Family and Medical Leave Act ("FMLA"), 29 U.S.C. ss.2601 et seq.,
as amended, the Labor Management Relations Act, 29 U.S.C. ss.141 et seq., as
amended, the Occupational Safety and Health Act ("OSHA'), 29 U.S.C. ss.651 et
seq., as amended, the Racketeer Influenced and Corrupt Organizations Act (RICO),
18 U.S.C. ss.1961 et seq., as amended, the Texas Commission on Human Rights Act
("TCHRA"), Texas Labor Code ss.ss.21.001 et seq., as amended, the Texas Pay Day
Law, Texas Labor Code ss.ss.61.001 et seq., as amended, and/or the Texas
Worker's Compensation Discrimination Law, Texas Labor Code ss.ss.451.001 et
seq., as amended for any actions or omissions whatsoever, whether known or
unknown and whether connected with the employment relationship between Employee
and Zale, the Employment Agreement, and/or the cessation of Employee's
employment with Zale, or not, which existed or may have existed prior to, or
contemporaneously with, the execution of this Agreement. Employee represents
that no complaints or claims have been filed by Employee or on her behalf
against Zale with any governmental agency and that there have been no
communications with the Department of Labor by Employee or on her behalf
regarding Zale. Employee further represents that should any such complaint or
claim be filed on her behalf with any governmental agency, including the
Department of Labor or the SEC, she will actively take steps to seek the
dismissal of such complaint.

     2. Release by Zale: Zale, for itself and on behalf of all related entities,
corporations, firms, associations, partnerships, their successors and assigns,
and the current and former owners, shareholders, directors, officers, employees,
agents, attorneys, representatives and insurers of said corporations, firms,
associations, partnerships, and entities and their guardians, successors, heirs,
assigns, executors and administrators, hereby GENERALLY RELEASE, ACQUIT, AND
DISCHARGE Romano, her heirs, assigns, successors, executors, administrators,
representatives and attorneys from any and all claims, complaints, grievances,
liabilities, obligations, promises, agreements, damages, causes of action,
rights, debts, demands, controversies, costs, losses, and expenses (including
attorneys' fees and expenses) whatsoever, under any municipal, local, state, or
federal law, common or statutory -- including, but in no way limited to, claims
arising under the Employment Agreement between the Parties, the Age
Discrimination in Employment Act of 1967, 29 U.S.C. ss. 621, et seq., as
amended, Title VII of the Civil Rights Act of 1964, 42 U.S.C. ss. 2000e, et
seq., as amended (including the Civil Rights Act of 1991), the Americans with
Disabilities Act of 1990, 42 U.S.C. ss.12101, et seq., as amended, the Employee
Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. ss.1001 et seq., as
amended, the Family and Medical Leave Act ("FMLA"), 29 U.S.C. ss.~ 2601 et seq.,
as amended, the Labor Management Relations Act, 29 U.S.C. ss.141 et seq., as
amended, the Occupational Safety and Health Act ("OSHA'), 29 U.S.C. ss.651 et
seq., as amended, the Racketeer Influenced and Corrupt Organizations Act (RICO),
18 U.S.C. ss.1961 et seq., as amended, the Texas Commission on Human Rights Act
("TCHRA"), Texas Labor Code ss.ss.21.001 et seq., as amended, the Texas Pay Day
Law, Texas Labor Code ss.ss.61.001 et seq., as amended, and/or the Texas
Worker's Compensation Discrimination Law, Texas Labor Code ss.ss.451.001 et
seq., as amended for any actions or omissions whatsoever, whether known or
unknown and whether connected with the employment relationship between Employee
and Zale. the Employment Agreement, and/or the cessation of Employee's
employment with Zale, or not, which existed or may have existed prior to, or
contemporaneously with, the execution of this Agreement.

                                       2
<PAGE>

     3. The parties acknowledge and agree that they will keep the terms, amount,
and fact of this Agreement STRICTLY AND COMPLETELY CONFIDENTIAL, and that they
will not communicate or otherwise disclose to any employee of Zale (past,
present, or future), or to any member of the general public, the terms, amounts,
copies, or fact of this Agreement, except as may be required by law or
compulsory process, including but not limited to disclosures required pursuant
to various reporting obligations of Zale; provided, however, disclosure of this
Agreement and its terms and conditions by either party to his or its advisor(s),
spouse, or attorneys, each of whom or which agree to maintain confidentiality,
shall not be a breach of this Agreement, nor will internal communications at
Zale be a breach of this Agreement to the extent same are necessary to effect
Zale's obligations hereunder. Romano may indicate to prospective employers that
she left Zale to seek a position of greater responsibility or opportunity.

     4. The parties agree that they shall not in any way disparage one another,
including, where applicable, a party's current and former officers, directors
and employees, or to make to, or solicit of any third party any comments,
statements and the like that are derogatory or detrimental to the good name
and/or business reputation of either of the parties.

     5. Employee waives and releases forever any right and/or rights she might
have to seek or obtain employment, re-employment, and/or reinstatement with Zale
or the other Releasees, and agrees not to seek re-employment with any of same.

     6. Employee agrees that in addition to the termination of her employment
from Zale, her termination from any other positions she holds as a director,
officer, and/or employee with Zale and/or any of the Releasees shall be
effective with the execution of this Agreement.

     7. Employee and Zale specifically agree that following the execution of
this Agreement, neither party shall be bound by any of the terms of the
Employment Agreement executed by the Parties on February 28, 2003.

     8. Subject to the terms of paragraph 17 herein, the Parties agree as
follows:

     (a)  As consideration for this Agreement, Zale shall pay to Romano and her
          attorneys, Gillespie, Rozen, Watsky, Motley & Jones, P.C. the sum of
          $800,000. Zale shall pay this amount as follows within eight (8) days
          after execution of this Agreement by Romano as follows:

          1.   Zale shall make a payment to Romano by transmitting a check
               payable to "Pamela J. Romano" to Hal K. Gillespie (hereinafter
               "Gillespie"), her attorney, in the amount of $734,667.00. This
               payment will be made less standard deductions and as payment to
               Romano for disputed employment claims;

          2.   Zale shall make a payment to Gillespie, Rozen, Watsky, Motley &
               Jones, P.C., by transmitting a check payable to "Gillespie,
               Rozen, Watsky, Motley & Jones, P.C.", to Gillespie in the amount
               of $65,333.00 for which a Form 1099 for Tax I.D. No. 75-2326266
               will be issued.

                                       3
<PAGE>

     (b)  For one year following the Termination Date, Zale will continue to
          provide Employee her medical insurance benefits, disability insurance
          benefits, provided, however that the foregoing benefits in this
          subparagraph (b) shall terminate ninety (90) days after Romano begins
          new employment with comparable benefits, or upon her first day of
          eligibility for comparable benefits with a new employer, whichever
          occurs first.

     (c)  Zale will pay to Romano the value of any remaining unused vacation
          time and the vested portion of her Supplemental Executive Retirement
          Plan ("SERP") benefit under the Employment Agreement less deductions
          required by law through the Separation Date. Employee acknowledges
          that she has returned to Zale or will return to Zale within ten (10)
          days of her execution of this Agreement her employee identification
          badge, keys, Company-owned equipment, including without limitation,
          her personal computer, and any files, documents, records, binders, and
          other information of any kind or nature whatsoever (and all copies
          thereof) relating to Zale or the Releasees except Employee's personal
          payroll or benefits information.

     (d)  Romano agrees to reconcile her outstanding expenses and advances with
          Zale within ten (10) days of her execution of this Agreement, and to
          pay Zale any outstanding balance owed after all agreed offsets are
          taken; provided however, that Romano authorizes Zale to make any
          deductions from her compensation, including her Severance Pay, that
          are necessary to comply with state or federal laws on withholdings, to
          compensate Zale for property damaged or property not returned by the
          Employee, and/or to recover advances, if any, paid to Romano.

     (e)  Zale agrees that Romano can continue to use the company car currently
          in her possession through July 31, 2006, at which time she will return
          the car to Zale headquarters in Irving, Texas at her sole cost and
          expense.

     (f)  Zale agrees to pay Romano $5,000.00 as the one-year value of her
          Medical Expense Reimbursement Program (MERP).

     9. Romano acknowledges and agrees that for two (2) years after the
Separation Date, she shall not, on her own behalf or on behalf of any other
person, partnership, association, corporation, or other entity, solicit or in
any manner attempt to influence or induce any employee of Zale or its
subsidiaries or affiliates to leave the employment of Zale or its subsidiaries
or affiliates. Employee further acknowledges and agrees that she will not at any
time use or disclose to any person, partnership, association. corporation, or
other entity any Trade Secrets or confidential information obtained while an
employee of Zale, including without limitation the names, contact information,
and addresses of Zale employees.

                                       4
<PAGE>

     10. Romano agrees to reasonably cooperate with Zale, specifically including
any attorney retained by Zale, in connection with any pending or future
litigation, arbitration, business, or investigatory matter. The Parties
acknowledge and agree that such cooperation may include, but shall in no way be
limited to, Romano's making herself reasonably available for interview by Zale,
or any attorney retained by Zale, and providing to Zale any documents in her
possession or under her control. Zale agrees to provide Romano with reasonable
notice of the need for assistance when feasible. If the request for assistance
occurs more than three (3) years after the date Romano executes this Agreement,
Romano shall be reimbursed for the reasonable value of her time.

     11. Romano acknowledges that she has had access to and become familiar with
trade secrets and proprietary and confidential information of Zale, its
subsidiaries and affiliates, consisting of the identity, responsibility, and/or
income of Zale employees other than herself, Zale costs of doing business, Zale
computer programs, Zale proprietary compilations of information, Zale records,
Zale proprietary sales procedures, Zale customer requirements, Zale pricing
techniques, Zale customer lists, Zale proprietary methods of doing business,
Zale current and ongoing marketing plans and information about past, present,
pending, and/or planned Zale transactions, (collectively, referred to as "Trade
Secrets") which are owned by Zale, its subsidiaries and/or affiliates and
regularly used in the operation of its business, and as to which Zale, its
subsidiaries and/or affiliates take precautions to prevent dissemination to
persons other than certain directors, officers and employees. Employee
acknowledges and agrees that the Trade Secrets (1) are secret and not known in
the industry; (2) give the Company or its subsidiaries and/or affiliates an
advantage over competitors who do not know or use the Trade Secrets; (3) are of
such value and nature as to make it reasonable and necessary to protect and
preserve the confidentiality and secrecy of the Trade Secrets; and (4) are
valuable and special and unique assets of Zale or its subs diaries and/or
affiliates, the disclosure of which could cause substantial injury and loss of
profits and goodwill to Zale or its subsidiaries and/or affiliates.

(a)  Employee may not use in any way or disclose any of the Trade Secrets,
     directly or indirectly, at any time in the future, unless the information
     becomes public knowledge other than as a result of an unauthorized
     disclosure by the Employee. All files, records, documents, information,
     data, and similar items relating to the business of Zale, whether prepared
     by Employee or otherwise coming into her possession, will remain the
     exclusive property of Zale, and in any event must be promptly delivered to
     Zale upon execution of this Agreement.

(b)  Employee agrees that upon her receipt of any formal or informal request,
     requirement, subpoena, process, or other action seeking Employee's direct
     or indirect disclosure or production of any Trade Secrets to any entity,
     agency, tribunal, or person, in connection with a judicial, administrative
     or other proceeding, then Employee shall promptly and timely notify Zale,
     and promptly and timely provide a description and, if applicable, hand
     deliver a copy of such request, requirement, subpoena, process or other
     action to Zale. In all such instances, Employee irrevocably nominates and
     appoints Zale (including any attorney retained by Zale), as her true and
     lawful attorney-in-fact to act in Employee's name, place and stead to
     perform any act that Employee might perform to defend and protect against
     disclosure of any Trade Secret, but at no cost to Employee.

                                       5
<PAGE>

     12. By entering into this Agreement, the Parties do not admit, and do
specifically deny, any violation of any contract, local, state, or federal law,
common or statutory. This Agreement has been entered into in release and
compromise of claims as stated herein and to avoid the expense and burden of
dispute resolution.

     13. If any provision or term of this Agreement is held to be illegal,
invalid, or unenforceable, such provision or term shall be fully severable; this
Agreement shall be construed and enforced as if such illegal, invalid, or
unenforceable provision had never comprised part of this Agreement; and the
remaining provisions of this Agreement shall remain in full force and effect and
shall not be affected by the illegal, invalid, or unenforceable provision or by
its severance from this Agreement. Furthermore, in lieu of each such illegal,
invalid, or unenforceable provision or term there shall be added automatically
as a part of this Agreement another provision or term as similar to the illegal,
invalid, or unenforceable provision as may be possible and that is legal, valid,
and enforceable.

     14. This Agreement constitutes the entire Agreement of the Parties, and
supersedes all prior and contemporaneous negotiations and agreements, oral or
written between the Parties. All other prior and contemporaneous negotiations
and agreements are deemed incorporated and merged into this Agreement and are
deemed to have been abandoned if not so incorporated. No representations, oral
or written, are being relied upon by either party in executing this Agreement
other than the express representations of this Agreement. This Agreement cannot
be changed or terminated without the express written consent of the Parties.

     15. This Agreement shall be governed by and construed in accordance with
the laws of the State of Texas without regard to its conflicts of laws
provisions, except where preempted by federal law.

     16. One or more waivers of a breach of any covenant, term, or provision of
this Agreement by any party shall not be construed as a waiver of a subsequent
breach of the same covenant, term, or provision, nor shall it be considered a
waiver of any other then existing or subsequent breach of a different covenant,
term, or provision.

     17. Employee may revoke this Agreement by hand-delivered notice to Zale, in
writing, within seven (7) days of the date of Employee's execution of this
Agreement (the "Revocation Period"). Employee acknowledges and agrees that she
will not receive the benefits provided by this Agreement if she revokes this
Agreement. Employee also acknowledges and agrees that if Zale has not received
from her notice of her revocation of this Agreement prior to the expiration of
the Revocation Period, Employee will have forever waived her right to revoke
this Agreement and this Agreement shall thereafter be enforceable and have full
force and effect.

     18. By executing this Agreement, Employee acknowledges that (a) she has had
at least twenty-one (21) days to consider the terms of this Agreement and has
considered its terms for that period of time or has knowingly and voluntarily
waived her right to do so; (b) she has been advised by Zale to consult with an
attorney regarding the terms of this Agreement; (c) she has consulted with, or
has had sufficient opportunity to consult with, an attorney of her own choosing
regarding the terms of this Agreement; (d) any and all questions regarding the
terms of this Agreement have been asked and answered to her complete
satisfaction; (e) she has read this Agreement and fully understands its terms
and their import; (f) except as provided by this Agreement, she has no
contractual right or claim to the benefits described herein; (g) the
consideration provided for herein is good and valuable; and (h) she is entering
into this Agreement voluntarily, of her own free will, and without any coercion,
undue influence, threat, or intimidation of any kind or type whatsoever.

                                       6
<PAGE>

     19. Zale and Romano agree that the exclusive method of resolving any
disputes relating to this Agreement or the parties' obligations hereunder shall
be by mediation followed by binding arbitration. The parties further agree that
the mediator shall be Chris Nolland. The parties further agree that disputes not
resolved through mediation will be subject to binding arbitration to be held in
Dallas, Texas before a single arbitrator to be agreed upon by the parties, each
party to bear her or its own expenses and fees, including his or its share of
the arbitrator's fee.

EXECUTED in Dallas, Texas this   23rd   day of    February   , 2005,
                               --------        --------------

Date:    February 23, 2005                      /s/ Pamela J. Romano
      -----------------------                  -------------------------
                                                    PAMELA J. ROMANO

      EXECUTED in Dallas, Texas this   23rd   day of    February   , 2005
                                     --------        --------------

                                          ZALE CORPORATION

Date:    February 23, 2005            By:       /s/ Gregory Humenesky
      -----------------------             --------------------------------------
                                     Its: Senior Vice President, Human Resources
                                          --------------------------------------

                                       7EMPLOYMENT AGREEMENT

Exhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT

THIS AGREEMENT MADE AND ENTERED INTO THIS 23 day of February, 2005, by and between BROOKE FRANCHISE CORPORATION, a Missouri corporation ("Employer"), and Shawn T. Lowry ("Employee"), is as follows:

SUBJECT MATTER OF EMPLOYMENT

Employer has and does, hereby employ Employee under this Executive Employment Agreement,  effective on January 1, 2005, notwithstanding the date of this Agreement or the date such Agreement is signed by either Employer or Employee, to carry out the duties of the office of President for Employer. Employee hereby accepts employment by Employer, subject to the terms of this Executive Employment Agreement.

Employer and Employee agree that, notwithstanding Employee's status as an employee and officer of Employer, Employee is an "executive officer" of Brooke Corporation as of the effective date of this Agreement for purposes of the Securities Exchange Act of 1934, as amended.

The Employee's title, responsibilities and job description may be periodically revised by Employer without requiring a written amendment to this Agreement.

Employee shall report to the Board of Directors of Employer. Without requiring a written amendment to this Agreement, Employer has the right to change Employee's reporting relationship at any time and assign Employee to report to another individual.

COMPENSATION, BENEFITS AND EXPENSE REIMBURSEMENT

Employer agrees to pay to Employee base salary at the annual rate of One Hundred and Thirty Thousand Dollars ($130,000). The reference to base salary at an annual rate in this Agreement shall not entitle Employee to payment of salary beyond any salary earned through Employee's performance of services under this Agreement through the date of any termination of Employee's employment and/or this Agreement. The base salary will be reviewed periodically for adjustment by Employer, and, if adjusted, such adjusted amount will become the base salary for purposes of this Agreement.

Employee shall be eligible to participate in any short-term or long-term bonus or incentive compensation plans, programs or arrangements as are designated by the Employer at its sole discretion for participation by Employee. Employee will be advised of any terms and performance criteria relating to any such plans, programs or arrangements and any participation by Employee in any such plans, programs or arrangements shall not require a written amendment to this Agreement.

Employer further agrees to provide an automobile to Employee for business use and commuting provided that it is used in accordance with the policies established from time to time by Employer. Employee agrees that the automobile shall at all times remain the property of Employer or one of its affiliates and shall be returned to Employer upon termination of this Agreement.

Employer further agrees to grant Employee certain other benefits as specified in the personnel policies established from time to time by Employer and subject to the discretionary authority given to any applicable benefit plan administrators. Employer's personnel policies may be changed from time to time by Employer without requiring a written amendment to this Agreement.

Employer further agrees to reimburse Employee for reasonable expenses incurred while carrying out the duties assigned by Employer to Employee. Employee agrees to comply with Employer's expense reimbursement policies. At Employer's option, Employee may be provided with a corporate credit card for use in connection with the payment of travel and other employment-related expenses incurred in the performance of Employee's duties under this Agreement. Employee agrees to comply with any policies of Employer applicable to corporate credit card use. Employer, at its sole discretion, shall have the right to terminate the credit card program or revoke Employee's corporate credit card privileges at any time for any reason. Upon any such termination of the program, revocation of privileges, or termination of Employee's employment, Employee agrees to promptly return the corporate credit card to Employer.

ADDITIONAL OBLIGATIONS OF EMPLOYEE

Employee shall comply with the policies (including Employer's interpretations and clarifications thereof) established from time to time by Employer.

Employee agrees to be bound by the rules and policies set forth in the Brooke Franchise Corporation Employee Handbook as amended from time to time. Notwithstanding the foregoing, for any provision of this Executive Employment Agreement that is now or may become conflicted with the same or similar provision in such Employee Handbook, the provision which provides Employer most protection and grants Employer the greatest rights shall govern.  Employee further acknowledges that he has received, read, and signed all relevant forms attached to the Employee Handbook.

During and subsequent to Employee's employment under this Agreement, Employee shall respect the confidentiality of client file information, franchise agent information, broker/producer information, lending and loan sales information, and employment file information owned or controlled by Employer, Employer's affiliates, Employer's sister companies, Employer's parent company, the franchise agents of Employer or any such affiliates, sister companies or parent company, or the brokers/producers of Employer or any such affiliates, sister companies or parent company (collectively such affiliates, sister companies, parent company, franchise agents and brokers/producers shall be referred to as "Employer Companies"). Employee shall not remove any listing of clients, policy expiration information, franchise agents, brokers/producers, customer leads, contacts, lenders, purchasers of loans, or employees from premises or electronic databases owned or rented by Employer or any of the Employer Companies without the express written consent of Employer. Employee shall not sell or trade any client, franchise agent, broker/producer, lead, contact, borrower, lender, loan purchaser, insurance company or employee information obtained as a result of (1) access to Employer's or Employer Companies' client file, agency file, producer file, employment file, loan file, lender, loan purchaser or policy expiration information, or (2) business conducted by Employee for Employer or any of the Employer Companies. Employee agrees that all client file, agency file, producer file, employment file, borrower, lender, loan purchaser, lead, contact, insurance company and policy expiration information, and all good will associated with, or generated by, such information remain the exclusive property of Employer or one or more of the Employer Companies.

Except as Employer otherwise consents in advance in writing, Employee shall not disclose or make any use of, except for the benefit of Employer, at any time either during or subsequent to Employee's employment, any trade secrets, confidential information, knowledge, documentation, data, or other information of Employer or Employer Companies relating to products, services, loans, processes, know-how, designs, clients, customer lists, customer leads or contacts, borrowers, lenders, purchasers of loans, insurance companies, business plans, marketing plans, strategies, budgets, financial results, pricing information, projections, acquisition or divestiture plans, agent lists and information, broker/producer lists and information, employee lists and information, personnel changes, databases, software, designs or any matter pertaining to any business of Employer, any of the Employer Companies or any of their clients, which Employee produces, obtains or otherwise acquires during the course of Employee's employment, except as herein provided.  Employee agrees not to deliver, reproduce or in any way allow any such trade secrets, confidential information, knowledge, data or other information, or any documentation relating thereto, to be delivered or used by any third parties without specific direction and consent of Employer.

In the event of Employee's termination of employment with Employer for any reason whatsoever, Employee agrees to promptly surrender and deliver to Employer all records, materials, equipment, documents and data of any nature, and stored or possessed in any form or manner, pertaining to any program or confidential information of Employer, any of the Employer Companies, or any of their clients, which Employee produces or obtains during the course of his employment or otherwise.  

TERMINATION OF EMPLOYMENT

The relationship between Employer and Employee is an employment at will and nothing in this Agreement shall eliminate, reduce or deter the right of either party to terminate the employment relationship at any time for any reason. Termination of employment shall constitute termination of this Agreement unless the parties mutually agree in writing otherwise.

Any professional errors or omissions coverage provided by Employer for Employee shall cease upon termination of this Agreement. Any obligation by Employer to pay to employee performance bonuses or other bonus or incentive compensation, if any, shall also cease upon termination of this Agreement.

Obligations and provisions of this Agreement that, by their express terms or otherwise, require performance or compliance by one or both parties hereto after termination of this Agreement, including, but not limited to, obligations to return property, confidentiality of information, covenants not to solicit, the covenant not to compete, mediation, arbitration, waiver, the binding nature of this Agreement upon the parties, successors, assigns, heirs, executors and administrators, the government and construction of this Agreement, and the invalidity or non-enforceability of Agreement provisions, shall survive termination of the Agreement.

COVENANTS NOT TO SOLICIT OR COMPETE

In the event that Employee's employment is terminated for any reason by Employer or by Employee, Employee does hereby agree and covenant not to directly or indirectly solicit by any means insurance, financial services, insurance agency, agency consulting or loan business from any clients, franchise agents or lenders of Employer or any of the Employer Companies for a period of two (2) years from and after the effective date of termination of employment.  Employee agrees that he will not, for a period of two (2) years following termination of employment with Employer, directly or indirectly, solicit or hire any of the franchise agents, brokers, producers or employees of Employer or any of the Employer Companies to work for or contract with Employee or any person or company competitive with Employer or any of the Employer Companies.  If Employee breaches this paragraph, Employer shall be entitled to all damages that result from each and every individual breach, in addition to any other remedies, including equitable remedies, that Employer may have.

Employee and Employer agree that (1) during the period of Employee's employment hereunder, Employee will not undertake, engage in, or be directly or indirectly involved in the planning, organization, funding or operation of any business activity competitive with either the work Employee performs or any of the lines of business in which Employer or any of the Employer Companies is engaged; and (2) for two years after the effective date of Employee's termination of employment under this Agreement for any reason or no reason at all, Employee shall not engage in, or own or control any interest in (except as a passive investor in less than one percent of the outstanding securities of a publicly held company), or act as an officer, director or employee of, broker or producer for, or consultant, advisor or lender to, any firm, corporation, partnership, limited liability company, sole proprietorship, institution, business or entity that engages in any line of business that is competitive with any Line of Business of Employer and any of the Employer Companies (as defined below) in any state in the United States in which such Line of Business of Employer and any of the Employer Companies operates as of the effective date of the termination of Employee's employment under this Agreement. "Line of Business of Employer and any of the Employer Companies" means the insurance agency business, the business of franchising insurance agencies, the business of providing consulting services to insurance agencies, the business of lending money to franchisees, insurance agencies, insurance agents or funeral homes, the wholesale insurance brokerage business, the funeral home business, the business of franchising funeral homes, and any other line of business of Brooke Corporation and all of its subsidiaries, the revenues of which constituted 10% or more of the consolidated revenues for Brooke Corporation for the fiscal year of Brooke Corporation completed on, or most recently completed prior to, Employee's last day of employment under this Agreement. The running of the two-year period specified in this paragraph shall be suspended during any period of violation and/or any period of time required to enforce this covenant by settlement, mediation, arbitration, litigation, threat of arbitration or threat of litigation. Nothing in this paragraph shall preclude Employee from having an ownership interest in a franchise granted by either Brooke Franchise Corporation or another Employer Company or having an employment or subagent relationship with a franchise granted by either Brooke Franchise Corporation or another Employer Company.

   

Employee and Employer agree that the prohibitions contained in the foregoing covenants not to solicit, the non-competition covenant and the provisions of this Agreement pertaining to confidential information of Employer and the Employer Companies are reasonable and necessary and Employee's salary, employment and association with Employer and/or the opportunities which are afforded to Employee are ample consideration for these restrictions. 

Employee and Employer agree that, should any provisions of any covenant or other portion of this Agreement be determined to be invalid, illegal or otherwise unenforceable or unreasonable in scope by any arbitrator to whom a dispute regarding this Agreement has been submitted in accordance with this Agreement, or by any court of competent jurisdiction, the validity, legality and enforceability of the other provisions of this Agreement will not be affected thereby, and the provision found invalid, illegal or otherwise unenforceable or unreasonable will be considered by Employee and Employer to be amended as to scope of protection, time or geographic area (or any one of them, as the case may be) in whatever manner is considered reasonable by that arbitrator or court and, as so amended, will be enforced.

Employee and Employer agree that money damages alone will not adequately compensate Employer for breach of the foregoing covenants not to solicit, the non-competition covenant, and the provisions of this Agreement pertaining to confidential information of Employer or the Employer Companies and, therefore, in the event of the breach or threatened breach of any such covenant or provision, in addition to all other remedies available at law, in equity or otherwise, Employer shall be entitled to injunctive relief compelling specific performance of (or other compliance with) the terms thereof.

MISCELLANEOUS

This Agreement supersedes and take precedence over any and all prior agreements, arrangements or understandings between Employer or any one or more of the Employer Companies and the Employee relating to the subject matter hereof.

No oral understanding, oral statement, or oral promises or oral inducements exist between the parties.

The waiver by Employer of any breach of any provision of this Agreement by Employee shall not operate or be construed as a waiver of any subsequent breach by the Employee.

Any notice required or permitted to be given under this Agreement shall be sufficient if in writing, and if hand delivered or sent by regular mail to Employee's residence (in the case of notice to Employee) or to Employer's principal office (in the case of notice to the Employer).

The rights and obligations of Employer under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of Employer. This Agreement is binding upon Employee and the heirs, executors, assigns and administrators of Employee or Employee's estate and property.

Employer may assign this Agreement by providing Employee notice of Employer's decision to do so. Employee may not assign or transfer to others the obligation to perform Employee's duties hereunder.

This Agreement may not be modified, revised, altered, added to, extended in any manner, or superseded other than by an instrument in writing signed by both of the parties hereto.

This Agreement shall be governed and construed in accordance with the laws of the State of Kansas.

MEDIATION AND ARBITRATION

Any issue, claim or dispute that may arise out of or in connection with this Agreement or the employment relationship between Employer and Employee, or the termination of such Agreement and/or relationship, and which Employee and Employer (or any of the Employer Companies) are not able to resolve themselves by negotiation, shall be submitted to mediation in a manner agreed to by Employee and Employer. Employee and Employer agree to use mediation to attempt to resolve such issue, claim or dispute prior to filing any arbitration action, lawsuits, complaints, charges or claims. Employee and Employer will select an independent mediator agreeable to both parties. If the parties cannot agree on an independent mediator, the parties agree that the American Arbitration Association will appoint a mediator. The mediator will communicate with the parties to arrange and convene the mediation process that will be most efficient, convenient and effective for both parties. The costs of the mediation and fees of the mediator will be borne equally by Employee and Employer. The parties will cooperate with the mediator in coming to a reasonable agreement on the mediation arrangements which will include the time and place for conducting the mediation, who will attend or participate in the mediation, and what information and written material will be exchanged before the mediation. The mediation will be conducted at a place agreeable to both Employee and Employer.

Any issue, claim, dispute or controversy that may arise out of, in connection with, or relating to this Agreement, the employment relationship between Employer and Employee, or the termination of such Agreement and/or relationship that are not able to be resolved by mediation, shall be submitted to arbitration administered by the American Arbitration Association under its Employment Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in an court having jurisdiction thereof.  Employee and Employer agree to use arbitration to resolve such issue, claim or dispute prior to and in lieu of filing any lawsuits, complaints, charges or claims. The costs of the arbitration and fees of the arbitrator(s) will be borne equally by Employer and Employee.

Employee and Employer agree that each party will pay the fees and expenses of his or its own attorneys involved in any mediation, arbitration or dispute relating to this Agreement, Employee's employment by Employer, or the termination of such Agreement and/or employment. Neither party shall have any obligation to pay the fees and/or expenses incurred by legal counsel or expert witnesses retained by or on behalf of the other party in connection with any such mediation, arbitration or dispute.

 

Therefore, for good and valuable consideration, the receipt and sufficiency of which is acknowledged by both parties, Employer and Employee have duly executed this Executive Employment Agreement on the date(s) set forth below their respective signatures.

BROOKE FRANCHISE CORPORATION

"EMPLOYER"

 

by: /s/ Shawn T. Lowry

Shawn T. Lowry

Date: 2/23/05

/s/ Heather Balthazor

Witness

EMPLOYEE:

/s/ Shawn T. Lowry

Shawn T. Lowry

Date: 2/23/05

/s/ Heather Balthazor

Witness

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]