Document:

amacore_8k-ex1004.htm

    Exhibit 10.4

     

    

    

    August
25, 2008

    

    

    Jerry
Katzman, M.D.

    1211
North Westshore Blvd.

    Suite
512

    Tampa, FL
  33607

    

    RE:           Separation
Agreement

    

    Dear
Jerry:

    

    This agreement (the “Agreement”), which
is subject to your approval, sets forth The Amacore Group, Inc.’s (“ACGI”)
proposed agreement related to the cessation of your employment relationship with
ACGI.  The parties’ receipt of the benefits described below is
conditioned upon the execution of and continued performance of the terms of this
Agreement.

    

    
      	
              Notice
      of Resignation:

               

            	
              You
      will hereby tender your voluntary, irrevocable notice of resignation to
      ACGI effective immediately upon signing this Agreement in the form
      attached as Exhibit
      A.  Your date of resignation will be your “Employment
      Separation Date” for purposes of this Agreement.

               

            
	
              Severance
      Payment / Terminal Pay:

            	
              You
      agree that you will not receive any severance or termination pay from
      ACGI, but will instead enter into a consulting agreement (the “Consulting
      Agreement”) with ACGI.

               

            
	
              Health
      and Dental Insurance:

            	
              On
      your Employment Separation Date, you will receive information regarding
      your right to elect continuation of your group health and dental insurance
      coverage under federal law (“COBRA”), which if elected may allow you to
      continue that insurance coverage for the eighteen (18)-month period
      following your Employment Separation Date.  If you elect such
      coverage, ACGI will pay the entire amount of the COBRA premium during the
      term of the Consulting Agreement.  After that time, if you wish
      to continue COBRA coverage, you will be responsible for the full COBRA
      premium.  ACGI’s obligation to provide benefits under this
      Agreement shall under no circumstances exceed payment of the COBRA premium
      for eighteen (18)-months.

               

            

    

     

     

    
      1211 North Westshore Boulevard, Suite 512 ● Tampa, Florida
33607

      Phone: 813.289.5552 ● Facsimile:
813.289.5553

      www.amacoregroup.com

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
2

    

     

    
 

    
      	
              Vacation
      and Other Benefits:

            	
              Any
      accrued and unused vacation time existing as of your Employment Separation
      Date will not be paid out and you will not accrue any additional vacation
      time following your Employment Separation Date.

               

              Any
      securities of ACGI issued to you under a stock option, equity, or similar
      plan of ACGI shall remain subject to the terms of such plan and any
      corresponding agreement granting such securities.  You will no
      longer be eligible for grants under those plans following your Employment
      Separation Date, except as may be provided in the Consulting
      Agreement.

               

            
	
              Release
      of Claims - Including Age Discrimination & Employment Claims
      :

            	
              You
      hereby release ACGI from any and all actions, causes of action, suits,
      debts, dues, covenants, contracts, bonuses, controversies, agreements,
      promises, claims, grievances, charges, complaints, liabilities,
      obligations, and demands of any sort, in law or in equity, known or
      unknown, which arose from the beginning of the world to the date you sign
      this Agreement, which you may have against ACGI.

               

              This
      release specifically includes, but is not limited to, any claim of
      discrimination on the basis of disability, race, sex, pregnancy, religion,
      marital status, sexual orientation, national origin, age, veteran status,
      special disabled veteran status, or citizenship status, retaliation, or
      any other category protected by law (including without limitation any
      claim under 42 U.S.C. §§ 1981, 1983, 1985, 1986 and 1988; Title VII of the
      Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e et seq.; the Age Discrimination in
      Employment Act, as amended, 29 U.S.C. § 621, et. seq.; the Florida
      Civil Rights Act, as amended Fla. Stat. § 760.01 et seq; the Americans
      with Disabilities Act of 1990, as amended, 42 U.S.C. § 12101 et seq.; the
      Civil Rights Act of 1991; the Employee Retirement Income Security Act, as
      amended, 49 U.S.C. § 1001 et. seq.; the Family Medical Leave Act, as
      amended, 29 U.S.C. § 2601 et seq., or any other law relating to employment
      matters or prohibiting employment discrimination), breach of express or
      implied contract, any other contract affecting terms and conditions of
      employment, failure to pay wages, benefits, severance, or any compensation
      of any sort, or a covenant of good faith and fair dealing, any personal
      gain with respect to any claim arising under the qui tam provisions of the
      False Claims Act, 31 U.S.C. § 3730, any tort, common law or statutory
      claims in any way arising directly or indirectly out of your employment
      with or separation from ACGI, or your relationship with ACGI, and any
      claims to attorney fees or expenses, which your attorney(s) hereby also
      waive, whether such claims are known or unknown at the time you sign this
      Agreement; except that you understand you are not releasing any rights or
      claims arising after you sign this
Agreement.

            

    

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
3

    

    
      	 	
              ACGI
      hereby releases you from any and all actions, causes of action, suits,
      debts, dues, covenants, contracts, bonuses, controversies, agreements,
      promises, claims, grievances, charges, complaints, liabilities,
      obligations, and demands of any sort, in law or in equity, known or
      unknown, which arose from the beginning of the world to the date ACGI
      signs this Agreement, which ACGI may have against you.

               

              For
      purposes of the foregoing, the term “ACGI” includes ACGI and all of its
      present, former and future owners, affiliates and subsidiaries, and all of
      their respective directors, officers, shareholders, employees, agents,
      representatives, predecessors, successors and assigns.

            
	 	 
	
              The
      Term “Release” is Construed Broadly:

            	
              The
      term “release” shall be construed broadly and shall be read to include,
      for example, the terms “discharge” and “waive”.  Nothing in this
      Agreement is a waiver of your right to file any charge or complaint with
      administrative agencies such as the United States Equal Employment
      Opportunity Commission (hereafter, “Excepted Charge”).  However,
      this exception does not limit the scope of your waiver and release in the
      paragraphs above, and you waive any right to recover damages or obtain
      individual relief that might otherwise result from the filing of any
      Excepted Charge.

               

            
	
              Confidentiality:

            	
              You
      represent and agree that you have kept and will keep the circumstances
      leading to this Agreement completely confidential as to persons not
      employed by either ACGI or ACGI’s affiliates and will not make known such
      information to anyone outside of ACGI or its affiliates, at any time under
      any circumstances (meaning that such information may not be published,
      displayed, discussed, disclosed, revealed or characterized directly or
      indirectly, in any way to anyone) except to your spouse, legal counsel,
      accountants or tax advisors or unless compelled to do so by
      law.  In the event any such permitted disclosure is made, you
      warrant that such individuals will also comply with this confidentiality
      provision.

            

    

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
4

    

     

    
      	 	
              ACGI
      represents and agrees that it has kept and will keep the circumstances
      leading to this Agreement completely confidential as to persons not
      employed by ACGI or its affiliates, except to the extent disclosed by ACGI
      to its tax or legal counsel.  ACGI represents and agrees that to
      the extent the circumstances leading to this Agreement are disclosed to
      employees of ACGI or its affiliates, such information will be disclosed
      only to current executive-level employees of ACGI or its affiliates and
      only on a need-to-know basis as determined in the sole discretion of
      ACGI.  In the event any such permitted disclosure to employees
      of ACGI or it affiliates is made, ACGI warrants that such employees will
      also comply with this confidentiality provision.

               

              Further,
      ACGI will not issue a press release related to these matters or file the
      current report on Form 8-K to be filed with the SEC without your written
      approval, such written approval not to be unreasonably withheld or delayed
      and taking SEC requirements into consideration. The press release and
      Form 8-K will be provided to you on Thursday, August 21, 2008 by noon and
      you shall have until noon on August 22, 2008 to provide reasonable
      comments and good faith changes.  If such comments and changes
      are not received by that time, the release and filing can move
      forward.  ACGI will, in good faith, consider all reasonable
      changes and comments.  Further, the parties agree that if they
      receive inquiries concerning these matters or this Agreement, they will
      limit their comments to a positive statement to be a paraphrase of the
      press release and will not further comment on or characterize these
      matters.

            
	 	 
	
              Entire
      Benefits:

            	
              The
      parties acknowledge that this Agreement constitutes a compromise
      settlement payment of expenses, costs, attorneys’ fees, compensatory
      damages, punitive damages, and any other damages alleged to have been
      sustained by them.  You acknowledge that this is a waiver of
      your present and future employment rights.  You further
      acknowledge that any taxes due on the payments or benefits provided will
      not provide a basis to set aside or in any way alter this Agreement,
      unless an obligation of ACGI is breached by it.  Further none of
      the payments or benefits provided under this Agreement following your
      Employment Separation Date shall be taken into account as compensation
      under any ACGI welfare, pension, profit sharing or similar program that
      bases benefits in whole or in part on compensation received from
      ACGI.

               

              You
      further acknowledge that you have lost no wages as a result of your
      separation from ACGI and that you hereby specifically disavow any
      entitlement to lost wages.

               

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
5

    

     

    
      	
              Directors
      & Officer’s indemnification:

            	
              For
      the avoidance of doubt, ACGI agrees that it will continue to provide
      indemnification to you for the period that you were a director or officer
      according to the terms of Section 15 of that certain Employment Agreement
      dated May 25, 2007, by and between you and ACGI (“Employment Agreement”),
      and as permitted by ACGI’s certificate of incorporation and bylaws and by
      applicable law.  For the further avoidance of doubt, it is the
      intent of the parties that payments will be made by ACGI to professional
      representatives (e.g., attorneys, expert
      witnesses) as the fees and costs are incurred (as opposed to a
      reimbursement to you).

               

            
	
              No
      Admission of Wrongdoing:

            	
              The
      parties understand and agree that this Agreement does not constitute an
      admission that you or ACGI or any of its officers, directors, employees,
      representatives or agents has violated any local ordinance, state or
      federal statute, or principle of common law, or that any party has engaged
      in any improper or unlawful conduct or wrongdoing against the other party.
      The parties further agree that they will not characterize this Agreement
      or the payment of any money or other consideration in accordance with this
      Agreement as an admission that any party has engaged in any improper or
      unlawful conduct or wrongdoing against the other party.

               

            
	
              Non-Disparaging
      Remarks:

            	
              You
      agree that you will not make disparaging remarks about ACGI or its
      affiliates or any of their respective directors, officers, employees,
      representatives, or agents, or any of their respective products, services,
      practices or conduct, and ACGI agrees that it and its employees, officers,
      directors and affiliates will not make any disparaging remarks about you,
      provided, however, that the parties may give truthful testimony about such
      matters pursuant to a court order.

            

    

     

     

    
      	
              Return
      of ACGI Property:

            	
              You
      hereby certify that on or before your Employment Separation Date, you have
      left on ACGI premises in good condition all of its property (including but
      not limited to fax machines, computers and printers), equipment,
      materials, and information, which were in your possession, custody or
      control.

               

            
	
              Applicable
      Law:

            	
              Delaware
      law, without regard to its conflicts of law principles, will apply in
      connection with any dispute or proceeding concerning this
      Agreement.  With respect to any suit, action or other proceeding
      arising from, or relating to, this Agreement, the parties hereby
      irrevocably agree to the exclusive personal jurisdiction and venue of the
      Federal and state courts located within the state of Florida.

               

            

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
6

    

     

    
      	
              Suit
      in Violation of This Agreement - Loss of Benefits and Payment of
      Costs

            	
              If
      any party to this Agreement breaches it, the non-breaching party may bring
      an action and if successful, the breaching party agrees to pay all costs,
      expenses and actual attorneys’ fees incurred by the non-breaching
      party.  If you file a lawsuit asking that the Agreement be
      declared invalid or unenforceable, you agree that prior to the
      commencement of such an action you will tender back to ACGI all monies
      that you received or that were paid on your behalf as consideration for
      this Agreement.  However, the previous two sentences shall not
      be applicable to an action challenging the validity of this Agreement
      under the Age Discrimination in Employment Act.  If your action
      is unsuccessful, you further agree that you will pay all costs, expenses
      and actual attorneys’ fees incurred by ACGI in its successful defense
      against the action.

               

            
	
              Remedies:

            	
              You
      understand and agree that if you are found by a court of law to have
      materially breached any of your obligations under this Agreement, you
      shall forfeit your entitlement to any future compensation or benefits
      under this Agreement, including the release, which shall be null and
      void.  ACGI understands and agrees that if it is found by a
      court of law to have materially breached any of its obligations under this
      Agreement, it shall forfeit its entitlement to any future benefits under
      this Agreement, including the release, which shall be null and
      void.  Notwithstanding the above, the parties shall be entitled
      to any damages caused by the other’s breach.

               

               The
      parties understand and agree that in the event of a breach the terms of
      this Agreement, another party may bring a legal action against the
      breaching party and the non-breaching party shall be entitled to recovery
      of compensatory damages and its actual attorney’s fees and
      costs.   The parties further understand and agree that in
      the event of breach, the non-breaching party may suffer irreparable
      damages for which there is no adequate remedy at
      law.   Therefore, the parties agree that in addition to
      recovery of compensatory damages and actual attorney’s fees and costs, the
      non-breaching party shall be entitled to injunctive relief to stop the
      continued breach and such other relief as may be provided at law or
      equity.

               

              ACGI
      and you understand and agree that if the applicable party breaches the
      non-disparagement section herein, the non-breaching party will be entitled
      to injunctive relief to stop the continued breach and the non-breaching
      party will also be entitled to $200,000 for each breach of the
      non-disparagement section as liquidated damages.  The parties
      acknowledge and agree to the reasonableness of this
  amount.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
7

    

     

    
      	
              Your
      Attorney:

            	
              You
      acknowledge that you have been and hereby are advised to consult with
      legal counsel before signing this Agreement and have done
      so.  Within 14 days of its receipt of an invoice copy, ACGI will
      reimburse you for your attorneys’ fees related to this matter up to
      $10,000.

               

            
	
              Timing
      for Signing or Revocation:

            	
              You
      have twenty-one (21) calendar days in which to consider this Agreement,
      and if you choose, to sign and return it to ACGI.  Further, you
      may within seven (7) calendar days following the date you sign this
      Agreement, cancel and terminate it by giving written notice of your
      intentions to ACGI, and by returning to ACGI any remuneration or benefits
      you have received or which ACGI has paid under this
Agreement.

               

            
	
              Your
      Consent:

            	
              You
      acknowledge that you have read this Agreement and understand its contents
      and agree to its terms and conditions freely and voluntarily, that you
      have made an independent investigation of the facts and are not relying on
      any statements or representations by ACGI, and that you understand that
      this Agreement includes a final general release and that you can make no
      further claims against ACGI having any connection with the subject matter
      of this Agreement.

               

            
	
              No
      Other Agreements:

            	
              This
      Agreement, along with the Consulting Agreement between the parties entered
      into simultaneously herewith, supersedes any prior written or oral
      agreements between ACGI and you concerning the cessation of your
      employment and any benefits you might receive following that
      event.

               

            
	
              Miscellaneous:

            	
              The
      failure of either party at any time or times to require performance of any
      provision hereof  shall in no manner effect the right at a later
      time to enforce the same.  To be effective, any waiver must be
      contained in a written instrument signed by the party waiving compliance
      by the other part(y/ies) of the term or covenant as
      specified.  The waiver by a party of the breach of any term or
      covenant contained herein, whether by conduct or otherwise, in any one or
      more instances, shall not be deemed to be, or construed as, a further or
      continuing waiver of any such breach, or a waiver of the breach of any
      other term or covenant contained in this Agreement.

               

            

    

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
8

        
        

      

    

    
      	 	
              If
      any of the provisions of this Agreement are severable, it being the
      intention of the parties hereto that should any provision be held to be
      invalid, illegal or unenforceable, the validity, legality and
      enforceability of the remaining provisions shall not in any way be
      affected or impaired thereby.

               

              This
      Agreement may only be amended, varied or modified by a written document
      executed by the parties hereto.

               

              This
      Agreement will he binding upon and inure to the benefit of ACGI and any
      successor to ACGI, including, without limitation any persons acquiring
      directly or indirectly all or substantially all of the business or assets
      of ACGI whether by purchase, merger, consolidation, reorganization or
      otherwise (and such successor shall thereafter be deemed ACGI for the
      purposes of this Agreement.

               

              This
      Agreement will inure to the benefit of and be enforceable by your personal
      or legal representatives, executors, administrators, successors, heirs,
      distributes and legatees.

               

              This
      Agreement may not be assigned, transferred or otherwise inure to the
      benefit of any third person, firm or corporation without the written
      consent by the parties hereto, except that you may assign your rights
      under this Agreement.

               

              This
      Agreement may be executed in any number of counterparts, each of which
      shall be deemed an original but all of which together shall constitute one
      and the same agreement.

               

              The
      obligations set forth in the Release of Claims, Confidentiality,
      Indemnification, Non-Disparaging Remarks, Return of ACGI Property, Suit in
      Violation and Remedies sections shall survive any termination or
      expiration of this Agreement.

            

    

     

    
       

    

     

     

     

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

     

    

     

    
       

      
        	 	
                Sincerely,

                

                The
      Amacore Group, Inc.

                

                /s/
      Jay
      Shafer                 
      
Jay
      Shafer,

                President

              

      

       

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Jerry
Katzman, M.D.

      Separation
Agreement

      August
25, 2008

      Page
9

    

     

    I
have read each and every paragraph of this Agreement, I have been advised to
consult with my attorney, I understand my respective rights and obligations, and
I am signing this Agreement after reviewing it for at least 21 days, or, if
signing before the expiration of the 21-days, I am knowingly waiving additional
time for review.

     

    I
further acknowledge that I understand the above agreement includes the release
of all claims.  I understand that I am waiving unknown claims and I am
doing so intentionally.

     

    

     

    Accepted
and agreed to this 25th day of August, 2008.

    

    

    /s/
Jerry
Katzman                      

    Jerry
Katzman, M.D.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Exhibit
A

    

     

    Mr. Jay
Shafer

    President

    The
Amacore Group, Inc.

    1211
North Westshore Blvd., Suite 512

    Tampa,
Florida   33607

    

    

    

    RE:           Resignation

    

    Dear
Jay:

    

    This letter is to inform you that I am
resigning from my employment and all of my positions with The Amacore Group,
Inc. and all of its subsidiaries, including, without limitation, my positions as
Chief Medical Officer and Director, effective August 25, 2008.

    

    

    
       

      
        	 	
                Sincerely,

                 

                 

                /s/
      Jerry Katzman
Jerry
      Katzman, M.D

              

      

       

    

     

    .Exhibit 10.1(c)

 

THIRD AMENDMENT

AND PARTIAL TERMINATION OF LEASE

 

This Third Amendment and Partial Termination of
Lease (“Third Amendment”) is made as of August 8, 2000, by and between
James H. Mitchell, not individually but as Trustee of New Providence Realty Trust
(“Lessor”) and Immunogen, Inc. (“Lessee”).

 

WHEREAS, Lessor is the lessor and Lessee is the
successor lessee under that certain Lease dated June 21, 1988, as amended
(collectively, the “Lease”) relating to portions of the first floors (the “Leased
Premises”) in the North and South Buildings located at 333 Providence Highway,
Norwood, Massachusetts (the “Property”), as more fully described in the Lease.

 

WHEREAS, Lessee no longer desires to use the portion
of the Leased Premises it now occupies on the first floor in the North Building
containing approximately 10,100 square feet (the “North Building Space”) but
desires to continue to use the portion of the Leased Premises it now occupies
in the South Building; and

 

WHEREAS, Lessor has found a replacement tenant for
the North Building Space and has agreed to accept the surrender of the North
Building Space from Lessee.

 

NOW THEREFORE, in consideration of $1.00 and other
good valuable consideration, the receipt and sufficiency of which is hereby
acknowledged by each of the undersigned unto the other, the parties hereby
agree to amend and modify the Lease as follows:

 

1.                                      Effective June 30, 2000, Lessee surrendered and vacated the North
Building Space, and removed all of its personal property, leaving the North
Building Space in a “broom clean condition”, free and clear of debris and otherwise
in the condition required under the Lease.

 

2.                                      Effective on July 1 2000, the Lease shall be terminated as to the
North Building Space, provided, however, to the extent Lessee had any
obligations or responsibilities under the Lease for periods prior to the Move Out
Date, Lessee shall remain liable therefor.

 

3.                                      Effective July 1, 2000, the expiration of the term of the Lease
shall be June 30, 2003, the annual base rent payable to Lessor as
described in the Lease shall be $157,950.00 for the period from July 1,
2000 through June 30, 2003, payable in equal monthly installments of $13,162.50
and the monthly payments on account of the estimated real estate taxes and
common area charges due Lessor under the Lease shall initially be $3,290.63.

 

5.                                      In all other respects the Lease shall remain in full force and effect,
unchanged.

 

6.                                      Time is of the essence to this Third Amendment.

 

Executed as a sealed instrument as of the date first
written above.

 

	
   

  	
  LESSOR:

  
	
   

  	
  NEW PROVIDENCE REALTY TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  James H. Mitchell

  
	
   

  	
   

  	
  James
  H. Mitchell, its Trustee and 

  
	
   

  	
   

  	
  not
  individually

  
	
   

  	
   

  
	
   

  	
  LESSEE:

  
	
   

  	
  IMMUNOGEN,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Kathleen Carroll

  
	
   

  	
   

  	
  Name:
  Kathleen Carroll

  
	
   

  	
   

  	
  Title: Vice President
  Finance and

  Administration

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