Document:

Exhibit 10.15

 

TERMINATION OF SEVERANCE AND EMPLOYMENT AGREEMENT

                   
THIS TERMINATION OF SEVERANCE AND EMPLOYMENT AGREEMENT ("Agreement") is made
this 27th day of September, 2000, by and between WLR FOODS, INC., a Virginia
corporation (the "Company") and JAMES L. KEELER ("Mr. Keeler"), who
agree as follows:

RECITALS:

                   
A.     The Company and Mr. Keeler entered into a letter agreement dated
February 4, 1994 ("Severance Agreement") , that provides, among other
things, that the Company shall be obligated to pay Mr. Keeler certain severance benefits,
as set forth therein, in the event of a termination of his employment within thirty-six
(36) months after a Change In Control of the Company has occurred.

                   
B.      The Company has entered into an Amended and Restated
Employment Agreement dated June 23, 1998 with Mr. Keeler ("Employment
Agreement"). 

                   
C.     The Company has entered into an Agreement And Plan Of Merger with
Pilgrim’s Pride Corporation, a Delaware corporation ("Pilgrim’s), with such
merger to be consummated on the Effective Date, as defined therein (the "Merger
Agreement"). Such merger, if consummated, will constitute a Change In Control of the
Company as set forth in the Severance Agreement.

                   
D.      The parties desire to terminate the Severance Agreement and
the Employment Agreement as provided herein.

                   
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
is acknowledged, the parties hereto agree as follows:

                   
1.     Payment. In consideration for the execution of this
Agreement, the Company agrees to pay Mr. Keeler the sum of Nine Hundred Thousand Dollars
($900,000.00), to be paid on the Effective Date by wire transfer to an account designated
in writing by Mr. Keeler.

                   
2.      Elimination of Severance Payment. In consideration of
the payment made to Mr. Keeler by the Company in Section 1 above, the parties agree that
the Severance Agreement will be terminated in its entirety, and Mr. Keeler shall resign
from all positions with the Company and its affiliates on the Effective Date.

                   
3.      Termination of Employment Agreement. In further
consideration for the payment referred to in Section 1, Mr. Keeler agrees to terminate his
Employment Agreement, provided however, that the Company obtains assurances from
Pilgrim’s that the obligation to provide continuing health care coverage as provided
for in Section 6 of the Employment Agreement for Mr. Keeler and his wife for their
respective lives will be deemed to have survived and be assumed by Pilgrim’s. 

                   
4.      Condition Precedent. Notwithstanding anything to the
contrary herein, the terms of this Agreement are expressly contingent upon the
consummation of the sale transaction provided for in the Merger Agreement; in the event
such transaction is not consummated for any reason on the Effective Date, or the payment
as contemplated in Section 1 is not made as provided herein, all such terms of the
Severance Agreement and the Employment Agreement shall remain in full force and effect.

                   
5.      Successors; Binding Agreement. This Agreement shall
inure to the benefit of and be enforceable by Mr. Keeler, his personal legal
representatives, executors, administrators, successors, heirs, distributees, devisees, and
legatees.

                   
This Agreement shall be binding on the Company and its successors and assigns.

                   
6.      Fees and Expenses. The Company shall reimburse Mr.
Keeler, on a current basis, for all reasonable legal fees and related expenses incurred by
him (a) in connection with contesting or disputing any terms or conditions of this
Agreement or incurred by Mr. Keeler in attempting to collect payment under this Agreement,
or (b) in seeking to obtain or enforce any right or benefit provided by this Agreement, in
each case regardless of whether or not his claim is upheld by a court of competent
jurisdiction; provided, however, Mr. Keeler shall be required to repay such amounts to the
Company to the extent that a court issues a final and non-appealable order setting forth
the determination taken by Mr. Keeler was frivolous or advanced by him in bad faith.

                   
7.      Governing Law and Venue. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the
Commonwealth of Virginia (exclusive of its conflict of laws provision). Venue for any
proceeding related to the performance or interpretation of this Agreement, or in any way
arising out of this Agreement, shall be either the Circuit Court of Rockingham County,
Virginia or the United States District Court for the Western District of Virginia,
Harrisonburg Division.

                   
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed on its behalf
as thereunto duly authorized; and 

                   
WITNESS the following signature and seal.

                                       
                                          
              
WLR FOODS, INC., a Virginia corporation

                                       
                                          
              
By: __________________________________

                                       
                                          
              
Its: __________________________________

                                       
                                          
              
_____________________________________

                                          
                                          
                                    James
L. KeelerExhibit 10.16

 

TERMINATION OF SEVERANCE AGREEMENT

                   
THIS TERMINATION OF SEVERANCE AGREEMENT ("Agreement") is made this 27th
day of September, 2000, by and between WLR FOODS, INC., a Virginia corporation (the
"Company") and DALE S. LAM ("Mr. Lam"), who agree as follows:

RECITALS:

                   
A.    The Company and Mr. Lam entered into a letter agreement dated
November 2, 1998 ("Severance Agreement") , that provides, among other things,
that the Company shall be obligated to pay Mr. Lam certain severance benefits, as set
forth therein, in the event of a termination of his employment within thirty-six (36)
months after a Change In Control of the Company has occurred.

                   
B.     The Company has entered into an Agreement And Plan Of Merger with
Pilgrim’s Pride Corporation, a Delaware corporation, with such merger to be
consummated on the Effective Date, as defined therein. Such merger, if consummated, will
constitute a Change In Control of the Company as set forth in the Severance Agreement.

                   
C.     The parties desire to terminate the Severance Agreement as provided
herein.

                   
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
is acknowledged, the parties hereto agree as follows:

                   
1.     Payment. In consideration for the execution of this
Agreement, the Company agrees to pay Mr. Lam the sum of Four Hundred Forty-Seven Thousand,
Seven Hundred Fifty Dollars ($447,750.00), to be paid on the Effective Date by wire
transfer to an account designated in writing by Mr. Lam.

                   
2.     Elimination of Severance Payment. In consideration of the
payment made to Mr. Lam by the Company in Section 1 above, the parties agree that the
Severance Agreement will be terminated in its entirety, and Mr. Lam shall resign from all
positions with the Company and its affiliates on the Effective Date.

                   
3.     Condition Precedent. Notwithstanding anything to the contrary
herein, the terms of this Agreement are expressly contingent upon the consummation of the
sale transaction provided for in the Purchase Agreement between the Company and
Pilgrim’s Pride Corp., as contemplated in such Agreement; in the event such
transaction is not consummated for any reason on the Effective Date, or the payment as
contemplated in Section 1 is not made as provided herein, all such terms of the Severance
Agreement as originally set forth in the letter dated November 2, 1998 shall remain in
full force and effect.

                   
4.     Successors; Binding Agreement. This Agreement shall inure to
the benefit of and be enforceable by Mr. Lam, his personal legal representatives,
executors, administrators, successors, heirs, distributees, devisees, and legatees.

                   
This Agreement shall be binding on the Company and its successors and assigns.

                   
5.     Fees and Expenses. The Company shall reimburse Mr. Lam, on a
current basis, for all reasonable legal fees and related expenses incurred by him (a) in
connection with contesting or disputing any terms or conditions of this Agreement or
incurred by Mr. Lam in attempting to collect payment under this Agreement, or (b) in
seeking to obtain or enforce any right or benefit provided by this Agreement, in each case
regardless of whether or not his claim is upheld by a court of competent jurisdiction;
provided, however, Mr. Lam shall be required to repay such amounts to the Company to the
extent that a court issues a final and non-appealable order setting forth the
determination taken by Mr. Lam was frivolous or advanced by him in bad faith.

                   
6.     Governing Law and Venue. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the
Commonwealth of Virginia (exclusive of its conflict of laws provision). Venue for any
proceeding related to the performance or interpretation of this Agreement, or in any way
arising out of this Agreement, shall be either the Circuit Court of Rockingham County,
Virginia or the United States District Court for the Western District of Virginia,
Harrisonburg Division.

                   
WITNESS the following signatures and seals; and

                    
IN WITNESS WHEREOF, the undersigned has caused this Addendum to be executed on its behalf
as thereunto duly authorized.

                                       
                                        
WLR FOODS, INC., a Virginia corporation

                                       
                                        
By: __________________________________

                                       
                                        
Its: __________________________________

 

                                       
                                       
_____________________________________

                                          
                                          
                   Dale
S. Lam

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