Document:

chd-ex10141_61.htm

EXHIBIT 10.14.1

 

Form for Employees (10-2021)

 

CHURCH & DWIGHT CO., INC.

AMENDED AND RESTATED OMNIBUS EQUITY COMPENSATION PLAN

RESTRICTED STOCK UNIT GRANT

This RESTRICTED STOCK UNIT GRANT AGREEMENT (the “Agreement”), dated as of _________________ (the “Date of Grant”), is delivered by Church & Dwight Co., Inc. (the “Company”) to _______________ (the “Grantee”).

RECITALS

The Church & Dwight Co., Inc. Amended and Restated Omnibus Equity Compensation Plan, as it may be amended from time to time (the “Plan”) provides for, among other things, the grant of Stock Units of the Company, which includes the right to receive shares of Company Stock in the future, subject to restrictions set forth in this Agreement (“RSUs”). The Compensation and Human Capital Committee of the Company’s Board of Directors (the “Committee”), which administers the Plan, has decided to grant Stock Units in the form of RSUs as an inducement for the Grantee to continue in the employ of the Employer and promote the best interests of the Company and its stockholders.  References in this Agreement to the Committee shall include any successor thereto appointed under and in accordance with the Plan. Any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan.

NOW, THEREFORE, the parties to this Agreement, intending to be legally bound, hereby agree as follows:

1.Grant of RSUs.  Subject to the terms and conditions set forth in this Agreement and in the Plan, the Company hereby grants to the Grantee ___________ RSUs (the “Grant”), each of which shall represent the right to receive one share of Company Stock (a “Share”), subject to the terms and conditions set forth in this Agreement.

2.Vesting. Except as provided in Paragraphs 3 and 7 below or the Plan, the RSUs will vest on the third anniversary of the Date of Grant (the “Vesting Date”), subject to the Grantee’s continuous employment by the Employer from the Date of Grant until the Vesting Date. All unvested RSUs will be forfeited for no consideration if the Grantee ceases to be employed by the Employer, except if the termination is for any reason other than Disability (as defined below), death, Retirement (as defined below), or as expressly provided in Paragraph 7 of this Agreement.

3.Accelerated Vesting. All unvested RSUs shall immediately vest upon the happening of the first of the following events and in such event, the “Vesting Date” shall be deemed to be the date of the occurrence of such event:

(a)The Grantee ceases to be employed by the Employer on account of the Grantee’s Disability.  For purposes of this Agreement, the term “Disability” shall mean the Grantee’s inability to render services to the Employer for a period of six consecutive months by reason of permanent disability, as determined by the written medical opinion of an independent medical physician 

 

 

reasonably acceptable to the Employer.  In no event shall the Grantee be considered Disabled for purposes of this Agreement unless the Grantee is deemed disabled pursuant to the Employer’s long-term disability plan, if one is maintained by the Employer at the time of the claimed disability.

(b)The Grantee dies while employed by the Employer.

(c)The Grantee’s employment is terminated on account of the Grantee’s Retirement (as defined below), then 100% of the RSUs shall immediately vest on the date of such termination and the Restriction Period shall immediately lapse and expire.  For purposes of this Agreement, a Grantee shall be considered to meet the requirements of “Retirement” only if:

(1)the Grantee’s termination of employment is voluntary and is not a termination by the Employer without Cause, and the Grantee (A) has provided the Employer with at least 120 days’ prior written notice of the proposed termination date, and (B) is aged 55 or above as of the Grantee’s employment termination date and, as of such employment termination date, (i) the Grantee has provided the Employer and its affiliates with at least five years of continued service and (ii) the sum of the Grantee’s age and his or her aggregate years of service with the Employer and its affiliates is equal to or greater than 65; or 

(2)the Grantee’s termination of employment is involuntary and made by the Employer without Cause, and the Grantee is aged 55 or above as of the Grantee’s employment termination date and, as of such employment termination date, (i) the Grantee has provided the Employer and its affiliates with at least five years of continued service and (ii) the sum of the Grantee’s age and his or her aggregate years of service with the Employer and its affiliates is equal to or greater than 65. 

4.Settlement. As soon as practicable after the Vesting Date, but in no event later than 60 days following the applicable Vesting Date, the Company will release the Shares underlying the RSUs that vested on such Vesting Date, subject to applicable withholding in accordance with Paragraph 6(a) below, and will deliver to the Grantee (or, in the case of the Grantee’s death, his or her estate) the appropriate number of Shares underlying the RSUs.

5.Dividend Equivalents.  In the event that the Company declares and pays a dividend in respect of its outstanding shares of Company Stock, Dividend Equivalents shall be credited to a bookkeeping account on the Company’s records in respect of the number of outstanding RSUs, if any, held by the Grantee that have not been settled as of such record date, provided that such Dividend Equivalents shall not be deemed to be reinvested in Shares and will be held uninvested and without interest and paid in cash as soon as practicable after the Vesting Date, but in no event later than 60 days following the applicable Vesting Date, subject to applicable withholding in accordance with Paragraph 6(a) below.  For purposes of clarity, if the RSUs (or any portion thereof) are forfeited by the Grantee pursuant to the terms of this Agreement, then the Grantee shall also forfeit the Dividend Equivalents, if any, accrued with respect to such forfeited RSUs.

6.Income Tax Procedures; Section 409A.  

(a)The Company or the Employer shall have the right to require payment of, or deduction from payments of any kind otherwise due to the Grantee, any federal, state, local or foreign taxes of any kind required by applicable law to be withheld upon the issuance, vesting or delivery of any Shares, Dividend Equivalents or payments of any kind. The Company or the 

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Employer may withhold taxes from any payments due to the Grantee or the Grantee may deliver a check to the Company or the Employer. Subject to the prior approval of the Committee, which may be withheld by the Committee in its sole discretion, the Grantee may elect to satisfy the minimum statutory withholding obligations, in whole or in part, (i) by having the Company withhold Shares otherwise issuable to the Grantee or (ii) by delivering to the Company Shares already owned by the Grantee. The shares delivered or withheld shall have an aggregate Fair Market Value sufficient to satisfy the minimum statutory total tax withholding obligations. The shares used to satisfy any tax withholding obligation must be vested and cannot be subject to any repurchase, forfeiture, or other similar requirements.

(b)The Company makes no guarantee regarding the tax treatment of the Grant, but the Grant, including Dividend Equivalents, is intended to be exempt from or otherwise comply with Section 409A of the Code (“Section 409A”), and this Agreement shall be administered and interpreted consistently with that intent.  To the extent the Grant constitutes a 409A Covered Grant, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for payment upon or following a termination of the Grantee’s employment unless such termination is also a “Separation from Service” within the meaning of Section 409A and, for purposes of any such provision, references to a “termination,” “termination of employment” or like terms shall mean Separation from Service. Notwithstanding any provision to the contrary in the Plan or this Agreement, if the Grantee is deemed on the date of the Grantee’s termination of employment, directorship or consultancy to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology set forth in Section 409A and if the Grant constitutes a 409A Covered Grant, then to the extent required to be delayed in compliance with Section 409A(a)(2)(B) of the Code, any payment made under this Agreement shall not be made prior to the earlier of (i) the expiration of the six-month period measured from the date of the Grantee’s Separation from Service and (ii) the date of the Grantee’s death. All payments delayed pursuant to this Paragraph 6(b) shall be paid to the Grantee on the first day of the seventh month following the date of the Grantee’s Separation from Service or, if earlier, on the date of the Grantee’s death.

7.Change of Control.  The provisions of the Plan applicable to a Change of Control shall apply to the outstanding RSUs and any Dividend Equivalents, and, in the event of a Change of Control, the Board may take such actions as it deems appropriate pursuant to the Plan.

8.Grant Subject to Plan Provisions.  This Grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan.  The Grant is subject to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) the registration, qualification or listing of the Shares, (b) changes in capitalization of the Company and (c) other requirements of applicable law and stock exchange rules and regulations.  The Committee shall have the authority to interpret and construe the Grant pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder.  By accepting the Grant, the Grantee agrees to be bound by the terms of the Plan and this Agreement and agrees that all of the decisions and determinations of the Committee and the Board shall be final and binding.

9.No Employment or Other Rights.  The Grant shall not confer upon the Grantee any right to be retained by or in the employ or other service of any Employer and shall not interfere in any way with the right of any Employer to terminate the Grantee’s employment at any time. The right of any Employer to terminate at will the Grantee’s employment at any time for any reason is specifically reserved.

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10.Issuance of Certificates.    

(a)When the Grantee obtains an unrestricted right to Shares, a certificate representing the unrestricted Shares shall be issued to the Grantee, free of the restrictions under this Agreement.

(b)The Company’s obligation to deliver Shares subject to the conditions provided herein shall be subject to the Plan (including, without limitation, Section 16 thereof) and all applicable laws, rules, regulations and stock exchange requirements and also to such approvals by governmental agencies as may be deemed appropriate by the Company, including such actions as Company counsel shall deem necessary or appropriate to comply with such applicable laws, rules, regulations and stock exchange requirements.  

11.Stockholder Rights.  The Grantee shall have no rights as a stockholder with respect to any Shares covered by any RSU unless and until the Grantee has become the holder of record of the Shares, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in this Agreement or the Plan.

12.Assignment and Transfers.  Except as otherwise expressly provided in Section 14(a) of the Plan, the rights and interests of the Grantee in the Grant, including any Dividend Equivalents, may not be sold, assigned, encumbered or otherwise transferred.  In the event of any attempt by the Grantee to alienate, assign, pledge, hypothecate, or otherwise dispose of the Grant or any right hereunder, including any Dividend Equivalents, except as provided for in this Agreement, or in the event of the levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Grant by notice to the Grantee, and the RSUs and all rights hereunder, including any Dividend Equivalents, shall thereupon become null and void.  The rights and protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates.  This Agreement may be assigned by the Company without the Grantee’s consent.

13.Data Privacy Consent. As a condition of the grant of the RSUs, the Grantee hereby consents to the collection, use and transfer of personal data as described in this Paragraph. The Grantee understands that the Company, the Employer and their affiliates hold certain personal information about the Grantee, including (as applicable) name, home address and telephone number, date of birth, social security number, social insurance number, salary, nationality, job title, ownership interests or directorships held in the Company, the Employer or their affiliates, and details of all stock options or other equity awards or other entitlements to Shares awarded, cancelled, exercised, vested or unvested (“Data”). The Grantee further understands that the Company, the Employer and their affiliates will transfer Data amongst themselves as necessary for the purposes of implementation, administration and management of the Grantee’s participation in the Plan, and that the Company, the Employer and any of their affiliates may each further transfer Data to any third parties assisting in the implementation, administration and management of the Plan. The Grantee understands that such recipients may be located in the United States or elsewhere in the world. The 

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Grantee hereby authorizes them to receive, possess, use, retain and transfer such Data as may be required for the administration of the Plan or the subsequent holding of Shares on the Grantee’s behalf, in electronic or other form, for the purposes of implementing, administering and managing the Grantee’s participation in the Plan, including any requisite transfer to a broker or other third party with whom the Grantee may elect to deposit any Shares acquired under the Plan. The Grantee understands that he or she may, at any time, view such Data or require any necessary amendments to it.

14.Applicable Law.  The validity, construction, interpretation and effect of this instrument shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof.

15.Notice.  Any notice to the Company provided for in this instrument shall be addressed to the Company in care of the General Counsel at 500 Charles Ewing Blvd. Ewing, NJ 08628, and any notice to the Grantee shall be addressed to such the Grantee at the current address shown on the payroll of the Employer, or to such other address as the Grantee may designate to the Employer in writing.  Any notice shall be delivered by hand or by a recognized courier service such as FedEx or UPS, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service.

16.Consent to Electronic Communications.  The Grantee agrees that the Company may provide him or her with any communications associated with the Grant in electronic format. The Grantee’s consent to receive electronic communications includes, but is not limited to, all legal and regulatory disclosures and communications associated with the Grant or notices or disclosures about a change in the terms and conditions of the Grant.

17.Taxes. Any tax obligations of the Grantee and tax liability therefore, including, without limitation, any penalties or interest based upon such tax obligations, that arise from any payments made to the Grantee in respect of the Grant (or any portion thereof) shall be the Grantee’s sole responsibility and liability.  In addition, the Grantee hereby agrees that neither the Company nor any of its affiliates shall have any liability to the Grantee in respect of such tax obligations or liability.

18.Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same instrument.

19.Grantee Acknowledgements.  The Grantee acknowledges receipt of a copy of the Plan and the prospectus and represents that he or she is familiar with the terms and conditions thereof, and hereby accepts this Agreement subject to all of the terms and conditions thereof.

 

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IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute and attest this Agreement, and the Grantee has executed this Agreement, effective as of the Date of Grant.

 

 

CHURCH & DWIGHT CO., INC.

 

 

By: ________________________________

Name: ______________________________

Title: _______________________________

Grantee: ____________________________

Date: _______________________________chd-ex1020_223.htm

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
EXHIBIT 10.20

 

Church & Dwight Co., Inc.

500 Charles Ewing Boulevard 

Ewing, NJ 08628

 

 

September 13, 2021

 

Britta Bomhard 30 Robert Road

Princeton, NJ 08540 

 

Dear Britta:

This Letter Agreement confirms the terms and conditions of your transition period following your voluntary resignation from employment with CHURCH & DWIGHT CO., INC. (“C&D”), through the beginning of January 1, 2022. For purposes of this Letter Agreement, the term C&D shall include C&D and all parent, subsidiary, affiliated and successor companies of C&D. In consideration of the benefits provided for in connection with your execution of this Letter Agreement, which you acknowledge are benefits to which you are not otherwise entitled, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, you agree as follows:

 

1.Resignation from Employment: Your last day of employment with C&D will be December 31, 2021, unless terminated earlier pursuant to an Early Termination Event (the “Effective Date of Separation”).

 

2.Transition Period: The “Transition Period” shall mean the period commencing September 10, 2021 and ending on the Effective Date of Separation.

 

A.Resignation: Effective at the beginning of January 1, 2022, you shall no longer be an officer of C&D. You agree that your resignation was without “Good Cause” as defined in Section 1.9 of the Change in Control and Severance Agreement, executed between you and C&D on February 8, 2016 and amended on October 18, 2016 (the “CIC Agreement”).

 

B.Transition Services: During the Transition Period, you shall use reasonable and diligent efforts to: (a) between September 10, 2021 and September 30, 2021, continue performance of the job duties assigned to you in your current role; and (b) between October 1, 2021 and December 31, 2021: (i) advise, assist, and cooperate with C&D in connection with any matters for which you have knowledge or previously had responsibility; (ii) perform and attend to transitional matters as reasonably identified and requested by C&D; and (iii) provide written reports and assessments 

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
reasonably requested by C&D pertaining to matters and/or personnel within the scope of your responsibilities for C&D (collectively, the “Transition Services”).

 

C.“Cause” for Termination of Transition Period: C&D may terminate the Transition Period early for “Cause” if any of the following have occurred: (a) fraudulent conduct by you directly related to the performance of the Transition Services; (b) your conviction of a crime, which, in C&D’s sole discretion, is sufficiently severe and job related to constitute a bar to continued employment; (c) violation of any law that has an adverse effect on the financial condition of C&D; (d) any material breach of this Letter Agreement, including a material failure to provide the anticipated Transition Services, which, if curable, has not been cured within 10 days of notice by C&D of such breach; (e) a violation of any written policy of C&D, which, if curable, has not been cured within 10 days of notice by C&D of such violation; or (f) your willful refusal to follow a lawful directive from management.

 

B.Early Termination Event: In the event the Transition Period is terminated ( a) by C&D for Cause as defined by Paragraph 2(C) or (b) by you for any reason other than material breach of this Letter Agreement by C&D, including but not limited to your resignation from C&D because of acceptance of a position outside of C&D during the Transition Period (either being herein defined as an “Early Termination Event”)), you will cease providing services to (and separate in all respects from) C&D, and C&D will have no obligation to provide any further opportunities, reemployment, work, compensation, pay, or benefits to you, whether under this Letter Agreement or otherwise, except as may be required by applicable law. In the event the Transition Period is terminated by C&D for any reason other than Cause as defined in Paragraph 2(C), any amounts that would otherwise be due under this Letter Agreement for the remainder of the Transition Period shall nevertheless become due and payable in the same amount and in the same manner as would be the case as if the Transition Period had continued, subject to the other terms and conditions applicable to eligibility for and payment of such amounts under this Letter Agreement, including all consideration under Paragraph 3.

 

3.Consideration: In exchange for your promises, representations, waivers and releases contained in this Letter Agreement, subject to the terms contained in this Letter Agreement, C&D will provide you with the following payments and benefits:

 

A.Continued Employment through Transition Period Terminable Only for Cause: C&D will provide you with continued employment during the Transition Period terminable only for Cause as defined in Paragraph 2(C). If you do not sign 

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
and return this Letter Agreement during the Consideration Period detailed in Paragraph 9, your employment will be terminated at the conclusion of the Consideration Period. If you sign and return this Letter Agreement during the Consideration Period, but subsequently revoke your agreement pursuant to Paragraph 11, your employment will be terminated upon receipt of your revocation.

 

B.Continued Salary and Benefits: C&D will continue your current base salary and health and welfare and other U.S. employee benefits, through the Effective Date of Separation. You understand and agree that you will not be entitled to any non-U.S. benefits hereunder and to the extent you require any health insurance or other insurance coverage beyond what is provided by your current U.S. employee benefits, you will be solely responsible to obtain such coverage.

 

C.2021 Bonus Payment: If an Early Termination Event has not occurred prior to the end of the Transition Period, you shall be eligible to receive your bonus award for 2021, pursuant to C&D’s Management Incentive Plan (“MIP”), with the bonus amount based on C&D’s actual performance in 2021, as determined under the MIP for 2021, and your personal bonus target percentage. Such bonus amount (less applicable tax withholdings) shall be paid to you on the regularly scheduled payment date for bonus payments under the MIP for 2021.

 

D.2021 Profit Sharing Distribution: If an Early Termination Event has not occurred prior to the end of the Transition Period, you shall be entitled to receive a profit sharing payment for 2021 pursuant to C&D’s Savings and Profit Sharing Plan (“SPSP”). Processing of your account for final distribution will begin thereafter in accordance with the terms of the SPSP.

 

4.Return of C&D Property: On or before the Effective Date of Separation, you shall return to C&D all documents, manuals, computers, computer programs, diskettes, customer lists, notebooks, reports and other written or graphic materials, including all copies of such documents, relating in any way to C&D’s business and prepared by you or obtained by you from C&D, its affiliates, clients or suppliers during the course of your employment with C&D.

 

5.Entire Agreement and Incorporation of CIC Agreement: This Letter Agreement constitutes the entire agreement between the parties on the subject of your separation and post-employment benefits, and, except as expressly provided herein, supersedes all other prior agreements concerning the terms of any and all payments and benefits to which you may be entitled upon termination of employment excluding the CIC Agreement, which shall continue to apply and the terms of which are incorporated into this Letter Agreement by reference. Through the incorporation of the CIC Agreement, you acknowledge and agree that you remain bound by the restrictive covenants contained in Section 5 of the CIC Agreement.

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
 

6.Vacation: Without regard to whether you sign this Letter Agreement, you will receive payment for any unused vacation, as calculated in accordance with C&D’s vacation policy.

 

7.C&D Savings and Profit Sharing Plan (“SPSP”), Executive Deferred Compensation Plan (“EDCP”), and Employee Stock Purchase Plan (“ESPP”): Your active participation under the SPSP, EDCP, and, if applicable, the ESPP, will terminate as of the Effective Date of Separation. All contributions and matching contributions in such accounts will be made until the Effective Date of Separation. Processing of your accounts for final distribution or deferral will begin following your Effective Date of Separation in accordance with the terms of the Plans, as applicable.You may obtain further details on topics discussed in this Paragraph 7 from the Human Resources Department.

 

8.Release and Waiver: In consideration of certain benefits provided to you pursuant to Paragraph 3 above and otherwise in this Letter Agreement, which you acknowledge and agree exceed any payment, benefit or other thing of value to which you might otherwise be entitled under any policy, plan or procedure of C&D and/or any prior agreement, understanding or arrangement between you and C&D, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, you hereby agree as follows:

 

A.You hereby agree on behalf of yourself, your agents, successors, assigns, heirs and executors, to fully and completely forever release C&D, its affiliates, subsidiaries, Board of Directors, all C&D benefits plans, all C&D benefit committees, and all of their respective predecessors and successors, past and/or present officers, directors, partners, members, managers, employees, agents, representatives, administrators, attorneys, insurers, and fiduciaries in their representative capacities (hereinafter collectively referred to in this Letter Agreement as the “Company Releasees”), from any and all claims, lawsuits, grievances or causes of action whatsoever, which you ever had, now have or may have against any or all of the Company Releasees, in law or equity, whether known or unknown to you, to the maximum extent permitted by law. This shall include any claim, related to, or arising out of, your employment by C&D, the terms and conditions of said employment and/or the termination of any employment with C&D occurring up to the Effective Date of this Letter Agreement.

 

B.Included in and notwithstanding the generality of Paragraph 8(A) above, by signing this Letter Agreement, you waive and release, to the maximum extent permitted by law, any and all claims you have or might have against the Company Releasees, including, but not limited to, any and all claims arising under the Civil Rights Act of 1991; Title VII of the Civil Rights Act of 1964, as amended; Americans with Disabilities Act; Employee Retirement Income Security Act; the Worker Adjustment and Retraining Notification Act; the Family Medical Leave Act; the Age Discrimination in Employment Act as amended by the Older Workers Benefit Protection Act; the Fair Labor Standards Act, to the extent permitted by law; New Jersey Law Against Discrimination – N.J. Rev. Stat.

§10:5-1, et seq.; New Jersey Statutory Provision Regarding Retaliation / Discrimination for Filing a Workers’ Compensation Claim – N.J. Rev. Stat.

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
§34:15-39.1, et seq.; New Jersey Family Leave Act – N.J. Rev. Stat. §34:11B-1, et seq.; New Jersey Security and Financial Empowerment Act - N.J. Rev. Stat. § 34:11C-1; New Jersey Smokers’ Rights Law – N.J. Rev. Stat. §34:6B-1, et seq.; New Jersey Equal Pay Act – N.J. Rev. Stat. §34:11-56.1, et seq.; New Jersey Genetic Privacy Act – N.J. Rev. Stat. Title 10, Ch. 5, §10:5-43, et seq.; New Jersey Wage Payment and Work Hour Laws; the Millville Dallas Airmotive Plant Job Loss Notification (mini-WARN) Act; New Jersey Fair Credit Reporting Act; New Jersey False Claims Act; New Jersey Civil Rights Act; New Jersey mini-

 

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
 

COBRA; New Jersey laws regarding Political Activities of Employees, Lie Detector Tests, Jury Duty, Employment Protection, and Discrimination; and all other municipal, federal, state, and local law claims, including all claims for wrongful discharge, employment discrimination or harassment on any basis, retaliation, wages and compensation, leave of absence, failure to accommodate, defamation, breach of express or implied contract, fraud, malicious prosecution, invasion of privacy, false imprisonment, and emotional distress; and any and all claims under any other federal or state statute or regulation, or any local ordinance, law or regulation, or any claim that was or could have been asserted under common law; and any other federal, state or local civil, labor, pension, wage-hour or human rights law, federal or state public policy, contract or tort law; any claim arising under federal or state common law, including, but not limited to, constructive or wrongful discharge or intentional or negligent infliction of emotional distress; and any claim for costs or attorney’s fees.

 

C.You represent, warrant and agree that you have been paid for all hours worked and all commissions and/or bonuses to which you were and/or are otherwise entitled and that you are not aware of any right or claim for payment of salary, back pay, front pay, interest, bonuses, accrued or unused holidays, accrued or unused sick leave, accrued or unused personal days, pension plan contributions, overtime, compensatory time, severance pay, and/or any other form of compensation in connection with your employment or your separation from employment, except for payments and/or benefits otherwise expressly provided for in this Letter Agreement.

 

D.You are waiving the right to file, and agreeing not to file, any civil actions against the Company Releasees relating to any facts or events occurring from the beginning of time until the date you sign this Letter Agreement (and later reaffirm via the Reaffirmation Agreement). This Agreement does not include, and you are not waiving: (1) any rights or claims that may arise after you sign this Letter Agreement; (2) any rights or claims for alleged workplace injuries or occupational disease that arise under any state’s workers’ compensation laws; (3) any rights or claims for benefits in which you have a vested right under any employee benefit or pension plans; (4) any rights or claims that cannot be released by law; (5) any rights or claims to enforce this Letter Agreement, or (6) any rights to indemnification under the terms of C&D’s bylaws or other applicable policies, plans or agreements and/or under applicable law and any rights to coverage under the C&D’s directors and officers insurance coverage, in each case to the extent any such rights under this clause (6) exist for former employees under such bylaws, policies, plans, agreements, policies and laws.

 

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
 

E.You understand and agree that nothing contained in this Letter Agreement limits your ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”). You further understand that this Letter Agreement does not limit your ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to C&D. This Letter Agreement does not limit your right to receive an award for information provided to any Government Agencies. On the other hand, by signing this Letter Agreement, you waive and release any right to any claims for money damages and equitable relief pursuant to the filing or prosecution of any administrative charge against C&D or any resulting civil proceeding or lawsuit that may be commenced on your behalf for the recovery of such relief, and which arises out of the matters that are and may be released in this Letter Agreement.

 

F.You warrant that you have not assigned to others any claims released under this Letter Agreement. You also agree that no payment of benefits will be due or payable to you pursuant to Paragraph 3 above or under this Letter Agreement if you have assigned to others any claims released under this Letter Agreement.

 

G.You declare and expressly warrant that you are not Medicare eligible, that you are not a Medicare beneficiary, and that you are not within 30 months of becoming Medicare eligible; that you are not 65 years of age or older; that you are not suffering from end-stage renal failure or amyotrophic lateral sclerosis; that you have not received Social Security benefits for 24 months or longer; and/or that you have not applied for Social Security benefits, and/or have not been denied Social Security disability benefits and are not appealing any denial of Social Security disability benefits.

 

(i)You affirm, covenant, and warrant that you have made no claim for illness or injury against, nor are you aware of any facts supporting any claim against, the Company Releasees under which the Company Releasees could be liable for medical expenses incurred by you before or after the execution of this Letter Agreement.

 

(ii)Because you are not a Medicare recipient as of the date of this release, you are aware of no medical expenses that Medicare paid and for which the Company Releasees are or could be liable now or in the future. You agree and affirm that, to the best of your knowledge, no liens of any governmental entities, including those for Medicare conditional payments, exist.

 

DocuSign Envelope ID: 6C0D3769-7555-47C4-AD7A-305F2D9AD0E5
 
 

9.Consideration Period: You have twenty-one (21) days from your receipt of this Letter Agreement within which to consider whether you want to sign this Letter Agreement, or as may be extended by agreement of C&D. To the extent you execute this Letter Agreement less than twenty-one (21) days after its delivery to you, you hereby acknowledge that your decision to execute this Letter Agreement prior to the expiration of the twenty-one (21) day period was entirely voluntary.

 

10.Attorney Review: You agree and represent that you have read carefully and fully understand the terms of this Letter Agreement, including but not limited to Paragraph 8 (A through G inclusive), and that you are hereby advised to consult with an attorney prior to signing this Letter Agreement.

 

	
 
	
11.
	
Revocation Period: You may revoke this Letter Agreement within seven

(7)days after you sign it, by giving notice in writing of such revocation to Rene Hemsey, Executive Vice President, Global Human Resources, 500 Charles Ewing Boulevard, Ewing, NJ 08628. You further acknowledge that, except with respect to continued wages and benefits due and payable pursuant to your continued employment through that time, you understand that you will not receive any payments or benefits due you under this Letter Agreement before the seven (7) day revocation period (the “Revocation Period”) has passed and then, only if you have not revoked this Letter Agreement.

 

12.Effective Date: This Letter Agreement shall take effect on the first business day following the expiration of the Revocation Period, provided this Letter Agreement has not been revoked by you as provided in Paragraph 11 (the “Effective Date of this Letter Agreement”).

 

13.Withholding: Notwithstanding any other provision of this Letter Agreement, C&D may, to the extent permitted by law, withhold applicable U.S. federal, state and local income and other taxes including but not limited to FICA from any payments due to you hereunder. You understand and agree that C&D will not withhold or pay any applicable non-U.S. taxes or social insurance payments you may owe, and you will be solely responsible for, and will indemnify and hold the C&D Releasees (as defined in Paragraph 8 above) harmless against, the payment of all applicable taxes including but not limited to income tax, service tax, payroll tax, profession tax, surcharge, social insurance or any consequent interest or penalty thereon for non-payment/withholding of any of the aforementioned taxes that may become due as a result of any payments made to you pursuant to this Letter Agreement. In addition, if applicable, you agree to cooperate with C&D in applying to the U.S. Social Security Administration for a Certificate of Coverage evidencing continued payment into U.S. Social Security for the duration of this Letter Agreement.

 

	
 
	
14.
	
Non-Disclosure and Non-Disparagement:

 

A.In addition to your obligations under the CIC Agreement, and except as provided in Paragraph 8, you agree to hold in the strictest confidence and not to use, or to disclose to any person, entity, association, venture or other third

 

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party, directly or indirectly, any Confidential Information (defined below) without the prior written consent of Rene Hemsey, Executive Vice President, Global Human Resources, 500 Charles Ewing Boulevard, Ewing, NJ 08628 or such other designee appointed by C&D. “Confidential Information” means any and all information, observations and data of any sort (whether or not embodied in a tangible or intangible form) that is not generally known to the public or not generally known throughout the industry and that is disclosed or otherwise revealed to you, or discovered or otherwise obtained by you or of which you became or become aware, directly or indirectly, at any time during the course of your employment with C&D, including, without limitation, regarding (i) products or services, or plans for new products or services (ii) internal business information (including historical and projected financial information and budgets and information relating to strategic and staffing plans and practices; or past or projected methods, business, training, advertising, marketing, promotion, distribution and sales plans or practices; or cost, rate and pricing structures and accounting and business methods), (iii) computer software, including operating systems, applications and program listings, (iv) flow charts, manuals and documentation, (v) inventions, devices, new developments, methods and processes, whether patentable or unpatentable and whether or not reduced to practice, (vi) identities and individual requirements of, and specific contractual arrangements with, C&D’s customers, suppliers, independent contractors, joint venture partners and other business relations and their Confidential Information,

(vii) copyrightable works (viii) all technology and trade secrets, know how, and compilations of data and analyses, techniques, systems, formulae, research, records, reports, designs, models, drawings, photographs, data and related data bases, and (viii) all similar and related information in whatever form.

 

B.Except as provided in Paragraph 8, you agree to refrain from making any statements or comments of a defamatory or disparaging nature to any employees, vendors, retailers, individuals or entities with whom the Company or any of its affiliates or subsidiaries has a business relationship, and/or any other third party regarding C&D or any of its officers, directors, employees, agents, representatives, affiliates, products, or services, other than is necessary to comply with law. For the purposes of this Letter Agreement, the term “disparage” includes, without limitation, comments or statements on the internet, to the press and/or media, to any Company Releasee, or to any individual or entity with whom any of the Company Releasees have a business relationship, which adversely affect in any manner (i) the conduct of the business of any of the Company Releasees (including, without limitation, any business plans or prospects) or (ii) the business reputation of the Company Releasees.

 

C.Except as provided in Paragraph 8, you agree to keep the existence of, terms of and conditions of this Letter Agreement confidential and you agree that you will not disclose any information concerning this Letter Agreement or its terms to anyone other than your spouse, legal counsel, medical providers, religious or spiritual counselors, and/or financial advisors, provided that: (i) you first inform them of your obligations under this Paragraph 14 and that this Letter

 

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Agreement is highly confidential; and (ii) they agree to maintain confidentiality.

 

D.Nothing in this Paragraph 14 prevents you from discussing or disclosing details relating to any claims of discrimination, retaliation, or harassment, whether alleged against any of the Company Releasees or any other person or entity.

 

E.You will not be held criminally or civilly liable under any Federal or state trade secret law for the disclosure of a trade secret that: (1) is made

(a) in confidence to a Federal, state, or local government official, either directly or indirectly, or to an attorney, and (b) solely for the purpose of reporting or investigating a suspected violation of law; or (2) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Your disclosure of trade secrets to attorneys, made under seal, or pursuant to court order is also protected in certain circumstances under 18 U.S. Code §1833.

 

F.The provision of any benefits under this Letter Agreement are expressly made subject to your compliance with this Paragraph 14. You agree that C&D may seek injunctive relief in any court of competent jurisdiction for your failure to comply fully with the provisions of this Paragraph 14 in addition to any other legal and monetary remedies which may be available to C&D.

 

15.Notification of Legal Process: You agree that, except as provided in Paragraph 8, in the event you are subpoenaed by any person or entity (excluding any government authority or agency) to give testimony (in a deposition, court proceeding or otherwise) which in any way relates to your employment with C&D, you will give prompt written notice of such request to Patrick de Maynadier, Executive Vice President, General Counsel and Secretary (or his successor) at 500 Charles Ewing Boulevard, Ewing, NJ 08628, to allow C&D a reasonable opportunity to protect its interests with respect to such disclosure. Nothing in this Letter Agreement shall preclude you from responding truthfully to any valid subpoena or from cooperating fully with any governmental investigation, action or proceeding.

 

16.Cooperation Following Effective Date of Separation: Following the Effective Date of Separation, you agree to cooperate in good faith and comply with and respond to all reasonable requests from or inquiries by C&D for assistance and information in connection with any matters or issues relating to or encompassed within:

(A)the duties and responsibilities of your employment with C&D; and/or (B) any lawsuit, arbitration, investigation or other proceeding or dispute in which C&D is or may become involved which may relate to your duties with C&D or as to which you have relevant knowledge or information. Such cooperation and assistance shall include, without limitation, consulting with the C&D’s officers, directors, employees, legal counsel, accountants and other advisors and representatives, appearing as a witness, submitting to depositions, providing testimony and witness interviews, and otherwise generally cooperating and assisting C&D in its defense or prosecution of any dispute, controversy, claim, litigation, action, arbitration, investigation or other proceeding involving C&D or any of its officers, directors, employees or agents, or in otherwise defending its position

 

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with respect to any matter. C&D agrees: (A) that your cooperation shall be subject to reasonable accommodations that will avoid or minimize disruption of your personal and professional obligations; and (B) to promptly reimburse you for any and all reasonable, expenses and, if permissible under the law of the jurisdiction of the applicable dispute, time incurred by you in connection with your obligations under this Paragraph 16. Any reasonable compensation owed under this Paragraph 16 is not contingent on the content of any testimony or the outcome of any dispute.

 

17.Applicable Law and Enforcement: This Letter Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without regard to the principles of conflict or choice of laws thereof. Additionally, you agree that any action to enforce the terms of this Letter Agreement shall be commenced in federal or state court in New Jersey, and, if in state court, in the County of Mercer. Both parties consent to personal jurisdiction in federal and state courts in New Jersey, and agree that such courts shall have exclusive jurisdiction.

 

18.Amendment: This Letter Agreement may only be amended or modified by a written agreement executed by you and C&D (or any successor). The parties agree that amendments, whether material or immaterial, do not restart the running of the consideration period in Paragraph 9.

 

19.Severability: If any provision of this Letter Agreement is held to be invalid or unenforceable in any respect under applicable law or rule in any jurisdiction this Letter Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid or unenforceable provision had not been contained herein. If, however, the waiver of rights in Paragraph 8 is found to be invalid or unenforceable, C&D has no obligation under this Letter Agreement unless the parties can negotiate a release/waiver that is enforceable.

 

20.Counterparts: This Letter Agreement may be executed in one or more counterparts, which shall, collectively or separately, constitute one agreement.

 

21.Interpretation: Should any provision of this Letter Agreement require interpretation or construction, it is agreed by the parties that the entity interpreting or construing this Letter Agreement shall not apply a presumption against one party by reason of the rule of construction that a document is to be construed more strictly against the party who prepared the document. Captions or headings are intended solely for convenience of reference and shall not be used in the interpretation of this Letter Agreement.

22.Non-Admission of Liability: The making of this Letter Agreement is not intended, and shall not be construed, as an admission that C&D has violated any federal, state or local law (statutory or decisional), ordinance or regulation, breached any contract or committed any wrong whatsoever against you.

23.Binding Effect of Agreement: This Letter Agreement shall not be a binding agreement unless and until countersigned by a representative of C&D. This Letter

 

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Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns.

24.Section 409A: The intent of the parties to this Letter Agreement is that the payments and benefits payable under this Letter Agreement be exempt from the application of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). In no event whatsoever shall C&D be liable to you for any additional tax, interest or penalties that may be imposed on you by Section 409A or any damages for failing to comply with Section 409A. The parties to this Letter Agreement further agree that there is no guarantee as to the tax consequences of payments and benefits provided for hereunder.

25.Voiding Agreement: The terms and conditions contained herein shall be void and of no further force and effect in the event this Letter Agreement is not signed by you and returned to Rene Hemsey, Executive Vice President, Global Human Resources, 500 Charles Ewing Boulevard, Ewing, NJ 08628, within twenty-one (21) days from the date of your receipt of this Letter Agreement.

Please sign the enclosed copy of this Letter Agreement to signify your understanding and acceptance of the terms and conditions contained herein. By signing this Letter Agreement, you are giving up important rights. You acknowledge that you are signing this Letter Agreement voluntarily and of your own free will and agree to abide by all the terms and conditions contained herein. You should carefully review this Letter Agreement, seek legal counsel and consider alternatives before signing this Letter Agreement. If you do not understand this Letter Agreement, you should not sign it.

 

 

Sincerely,

 

/s/ Rene Hemsey    

Rene Hemsey

Executive Vice President, 

Global Human Resources

 

 

The foregoing has been read and accepted as a binding agreement between C&D and the undersigned this September 28,, 2021.

 

 

 

/s/ Britta Bomhard    

BRITTA BOMHARD

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