Document:

Exhibit

EXHIBIT 10.7

SEVERANCE AGREEMENTAND GENERAL RELEASE
This Severance Agreement and General Release (hereinafter the “Agreement”) is made and entered into by and between Frank B. Schuster (hereinafter the “Executive”) and Snyder’s-Lance, Inc., a North Carolina corporation (hereinafter “Company”).
RECITALS
A.Executive is employed full time as the President, Sale Execution of the Company.

B.Executive’s employment may be terminated by Company or by Executive at any time.

C.Executive and Company entered into that certain Executive Severance Agreement, dated May 4, 2015 (the “ESA”), which agreement governs severance and other benefits in the event of Executive’s termination of employment.  Capitalized terms not otherwise defined herein shall have the meaning set forth in the ESA.

D.Executive and Company desire to provide for the termination of Executive’s employment with Company in an amicable and orderly way and to settle any and all disputes, known and unknown, in accordance with the terms and conditions set forth in this Agreement.

NOW, THEREFORE, for and in consideration of the foregoing, the mutual promises and covenants set forth herein, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Executive and Company, intending to be legally bound, agree as follows:
1.Executive’s employment with the Company will terminate (or has terminated) effective November 3, 2017 (the “Termination Date”).  

2.Company will pay (or has paid) to Executive his unpaid Base Salary, accrued and unused vacation pay, unreimbursed business expenses, and all other items earned by or owed to executive through the Termination Date.  These amounts are payable even if Executive does not sign, deliver and not revoke this Agreement as required for this Agreement to become effective.

3.As consideration for the promises made by Executive in this Agreement, Company agrees to provide Executive the benefits and payments provided for in Section 3 of the ESA as described in Appendix A hereto (the “Severance Payments and Benefits”), provided that this Agreement has been executed and delivered to Company on or before the twenty first (21st) day after the Termination Date. Table 2 to Appendix A references Executives vested and unvested equity and other incentive awards.  Upon agreement of the parties, the payments shall commence on or about the thirtieth (30th) day after the Termination Date.  

4.Executive acknowledges Company is relying on Executive’s compliance with the terms of the post-termination obligations in the ESA.  The post-termination obligations (and related remedies and other provisions) in the ESA, including, but not limited to Sections 6-18 of the ESA, are incorporated by reference herein, and survive the termination of Executive’s employment.  Except for explicitly set forth as follows in this paragraph 4, all terms of Executive’s ESA remain in full force and effect.

		
	a.
	Paragraph 1(c) of the ESA is hereby deleted in its entirety and replaced with the following:

“Business” means core brand snack foods made by the Company or its Affiliates at the time of or during the twelve (12) month period prior to the Termination Date.  This includes any and all types of pretzel products, seasoned pretzels and pretzel crisps; any and all types of potato chips and kettle cooked chips; and any and all types of sandwich cookie and cracker products.
		
	b.
	Paragraph 1(l) of the ESA is hereby delete in its entirety and replaced with the following:

“Products and Services” means (i) core brand snack foods (includes any and all types of pretzel products, seasoned pretzels and pretzel crisps; any and all types of potato chips and kettle cooked chips; and any and all types of sandwich cookie and cracker products) and (ii) the products and/or services offered by the Company or its Affiliates around the core brand snack foods at the time of, or during the 12 month period prior to, the Termination Date.
5.In consideration of the Severance Payments and Benefits:

a.Executive hereby RELEASES Company, its past and present parents, subsidiaries, affiliates, predecessors, successors, assigns, related companies, entities or divisions, its or their past and present employee benefit plans, trustees, fiduciaries and administrators, and any and all of its and their respective past and present officers, directors, partners, agents, representatives, attorneys and employees (all collectively included in the term “Company” for purposes of this release), from any and all claims, demands or causes of action which Executive, or Executive’s heirs, executors, administrators, agents, attorneys, representatives or assigns  (all collectively included in the term “Executive” for purposes of this release), have, had or may have against Company, based on any events or circumstances arising or occurring prior to and including the date of Executive’s execution of this Agreement to the fullest extent permitted by law, regardless of whether such claims are now known or are later discovered, including but not limited to any claims relating to Executive’s employment or termination of employment by Company, any rights of continued employment, reinstatement or reemployment by Company, and any costs or attorneys’ fees incurred by Executive, PROVIDED, HOWEVER, Executive is not waiving, releasing or giving up any rights Executive may have to vested benefits under any pension or savings plan, to continued benefits in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), to unemployment insurance, or to enforce the terms of this Agreement, or any other right which cannot be waived as a matter of law.  In the event any claim or suit is filed on Executive’s behalf against Company by any person or entity, Executive waives any and all rights to receive monetary damages or injunctive relief in favor of Executive from or against Company.

b.Company hereby RELEASES Executive from any and all claims, demands or causes of action which Company, its past and present parents, subsidiaries, affiliates, predecessors, successors, assigns, related companies, entities or divisions have, had or may have against Executive based on any events or circumstances arising or occurring prior to and including the date of Executive’s execution of this Agreement to the fullest extent permitted by law, regardless of whether such claims are now known or are later discovered and any costs or attorneys’ fees incurred by Company as a result of the same.

c.Executive agrees and acknowledges: that this Agreement is intended to be a general release that extinguishes all claims by Executive against Company; that Executive is waiving any claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans With Disabilities Act, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the North Carolina Equal Employment Practices Act, the North Carolina Persons with Disabilities Protection Act, and the North Carolina Retaliatory Employment Discrimination Law, and all other federal, state and local statutes, ordinances and common law, including but not limited to any claims based on public policy, breach of contract, either expressed or implied, equitable claims, defamation, retaliation, whistleblowing, negligence, invasion of privacy, infliction of emotional distress, slander, libel, estoppel, fraud, misrepresentation, and other torts (including intentional torts) and wrongful discharge, to the fullest extent permitted by law; that Executive is waiving all claims against Company, known or unknown, arising or occurring prior to and including the date of Executive’s execution of this Agreement; that the consideration that Executive will receive in exchange for Executive’s waiver of the claims specified herein exceeds anything of value to which Executive is already entitled; that Executive was hereby advised in writing to consult with an attorney and that Executive had at least 21 days to consider this Agreement; that Executive has entered into this Agreement knowingly and voluntarily with full understanding of its terms and after having had the opportunity to seek and receive advice from counsel of Executive’s choosing; and that Executive has had a reasonable period of time within which to consider this Agreement.  Executive represents that Executive has not assigned any claim against Company to any person or entity; that Executive has no right to any future employment by Company; that Executive has received all compensation, benefits, leave and time off due; and that Executive has not suffered any injury that resulted, in whole or in part, from Executive’s work at Company that would entitle Executive to payments or benefits under any state worker’s compensation law and the termination of Executive’s employment by Company is not related to any such injury.

6.Executive specifically acknowledges and reaffirms Executive’s ongoing obligations to Company set forth in the ESA, including without limitation, Section 6, Section 7 (Covenant Not to Compete), Section 8 (Non-Solicitation/No Interference Provisions), Section 9, Section 10 (Confidential Information and Company Property), and Section 11 (Additional Post-Termination Covenants) and that the Severance Payments and Benefits are subject to forfeiture and repayment pursuant to Section 14 of the ESA.  Further, Executive acknowledges that he is subject to any applicable post-employment covenants contained in any equity/incentive award agreement or plan.  Executive represents that Executive has not taken, and does not have in Executive’s possession or control, any materials containing Confidential Information. 

7.Executive understands that nothing contained in this Agreement limits Executive’s 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”).  Executive further understands that this Agreement does not limit Executive’s 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 Employer; provided, however, that Executive may not disclose Employer information that is protected by the attorney-client privilege, except as expressly authorized by law. This Agreement does not limit Executive’s right to receive an award for information provided to any Government Agencies. 

8.Employer provides notice to Executive pursuant to the Defend Trade Secrets Act that:

a.An individual 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 (i) in confidence to a federal, state, or 

local government official, either directly or indirectly, or to an attorney; and (ii) 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; and

b.An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (1) files any document containing the trade secret under seal; and (2) does not disclose the trade secret, except pursuant to court order.

9.This Agreement does not constitute and will not be construed as an admission by Company that it has violated any law, interfered with any rights, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive, and Company expressly denies that it has engaged in any such conduct.

10.In the event Company receives a reference request for Executive, Company will provide the same in accordance with the terms and conditions of this Agreement, including, but not limited to, Section 18 and any laws and regulations applicable thereto.

11.This Agreement, including (i) the ESA as incorporated by reference, (ii) Appendix A, and (iii) equity and other benefit plans applicable to awards referenced herein, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements.  This Agreement may be modified only by a written instrument signed by all parties hereto.  This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which constitute one and the same Agreement.

12.If any provision, section, subsection or other portion of this Agreement is determined by any court of competent jurisdiction to be invalid, illegal or unenforceable in whole or in part, and such determination becomes final, such provision or portion will be deemed to be severed or limited, but only to the extent required to render the remaining provisions and portion of this Agreement enforceable.  This Agreement as thus amended will be enforced so as to give effect to the intention of the parties insofar as that is possible.  In addition, the parties hereby expressly empower a court of competent jurisdiction to modify any term or provision of this Agreement to the extent necessary to comply with existing law and to enforce this Agreement as modified.  

13.Executive hereby agrees and acknowledges that Executive has carefully read this Agreement, fully understands what this Agreement means, and is signing this Agreement knowingly and voluntarily, that no other promises or agreements have been made to Executive other than those set forth in this Agreement, and that Executive has not relied on any statement by anyone associated with Company that is not contained in this Agreement in deciding to sign this Agreement.

14.This Agreement will be governed by the laws of the State of North Carolina without giving any effect to choice or conflict of law principles of any jurisdiction and all disputes arising under this Agreement must be submitted to a court of competent jurisdiction in Charlotte, NC.

15.On or prior to the Termination Date, Executive must return to Company all Company property previously provided to Executive, including, but not limited to, any Company-owned computer, personal digital assistant, mobile phone, credit cards, keys, key fobs, and computer accessories. 

16.Executive may accept this Agreement by delivering an executed copy of the Agreement to:

Snyder’s-Lance, Inc.
Attention: Gail Sharps Myers, SVP, General Counsel & Secretary
13515 Ballantyne Corporate Place
Charlotte, NC 28277
(704) 557-8001  Office
(704) 557-8069  Facsimile
gsharpsmyers@snyderslance.com

on or before the 21st calendar day after the Termination Date.

17.    Executive may revoke this Agreement within seven (7) days after it is executed by Executive
by delivering a written notice of revocation to:

Snyder’s-Lance, Inc.
Attention: Gail Sharps Myers, SVP, General Counsel & Secretary
13515 Ballantyne Corporate Place
Charlotte, NC 28277
(704) 557-8001  Office
(704) 557-8069  Facsimile
gsharpsmyers@snyderslance.com

no later than the close of business on the seventh (7th) calendar day after this Agreement was signed by Executive.  This Agreement will not become effective or enforceable until the eighth (8th) calendar day after Executive signs and has not revoked this Agreement.  If Executive revokes this Agreement, the parties will have no obligations under this Agreement.
18.    Neither the Company nor the Executive shall make any disparaging or defamatory statements, whether written or oral, regarding one another. This provision shall cease to be of any force or effect two (2) years after the Termination Date. This Section shall not be violated by testimony or statements to a government entity, testimony compelled by legal process, or rebuttal of a false or misleading statement made by Executive. 

[Signature page follows]

WHEREFORE, the parties have executed this Agreement on the date or dates set forth below.

                                                                                                	
	
	FRANK B. SCHUSTER

/s/ Frank B. Schuster
Date: November 8, 2017

	 

	SNYDER’S-LANCE, INC.  

/s/ Andrea Frohning
Name: Andrea Frohning 
Title: SVP and Chief HR Officer
Date: November 8, 2017

Appendix A
SEVERANCE AGREEMENT AND GENERAL RELEASE 
BETWEEN SNYDER’S-LANCE, INC. AND FRANK B. SCHUSTER

Subject to all terms and conditions of the Agreement, Company shall provide the following consideration to Executive pursuant to Section 3 of the Agreement. 

TABLE 1.  Description of Severance Payments and Benefits

	
		
	Section of the ESA
	Amount and/or description

	Section 3(a)
	Provided for in Section 2 of the Agreement. 

	Section 3(b)
	Total payment of $527,600, payable in 12 monthly installments, commencing on or about the 30th day following the Termination Date.

	Section 3(c)
	•
2017 Annual Performance Incentive Plan for Officers and Key Managers, subject to actual performance and paid when paid to other plan participants and prorated for days employed (307 days out of 364)     

•
2015, 2016 and 2017 LTIPs

◦
Stock Options - unvested are forfeited and cancelled as of the Termination Date

◦
Restricted Stock - unvested are forfeited and cancelled as of the Termination Date

◦
Performance Awards - you are eligible for a prorated portion (as provided for in Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards

◦
Performance Restricted Stock Units - you are eligible for a prorated portion (as provided for in Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards

◦
Timing of the awards for which you are eligible as referenced above:

▪
2015 awards, if any, are payable in 2018 when others are paid

▪
2016 awards, if any, are payable in 2019 when others are paid 

	
		
	Section 3(c)
	▪
2017 awards, if any, are payable in 2020 when others are paid

•
2017 Enterprise Incentive Plan (EIP)

◦
Performance Stock Options - you are eligible for a prorated portion (as provided for in Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards

◦
Performance Restricted Stock Units - you are eligible for a prorated portion (as provided for in Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards

◦
Timing of the awards for which you are eligible as referenced above:

▪
50% of 2017 EIP Performance Stock Options and Performance Restricted Stock Units, if any, are payable in 2020 when others are paid

▪
50% of 2017 EIP Performance Stock Options and Performance Restricted Stock Units, if any, are payable in 2021 when others are paid

	Section 3 (d)

	Indemnification as provided for in the ESA.

	Section 3 (e)
	One year of outplacement assistance, not to exceed a value of $35,170, and as otherwise provided for in the ESA.

	Section 3 (f)
	No acceleration of any outstanding unvested equity awards.
Any options vested as of the Termination Date shall continue to be exercisable for a period of one year following the Termination Date (or the original expiration date of the option, if shorter).
TABLE 2 below reflects vesting and exercisability of Executive’s outstanding equity awards.

For the avoidance of doubt, the treatment of Executive’s awards under the 2015, 2016 and 2017 Long-Term Performance Incentive Plans for Officers and Key Managers (each an “LTIP”) and the 2017 Enterprise Incentive Plan (“EIP”) will be treated consistent with Section 3 of the ESA.

TABLE 2
Equity and Incentive Award Table.  This Table 2 reflects the forfeitures and vesting/eligibility described in Table 1, and no duplication of awards should be construed.  Proration calculations assume a termination date of November 3, 2017. All awards are subject to applicable plans terms and conditions, including forfeiture for violation of any applicable post-employment covenants 

	
								
	Non-vested Non-Qualified Stock Option Awards as of the Termination Date

	Plan
	Number
	Exercise Price
	Original Expiration Date
	Status

	2017 LTIP
	12,060
	$39.5600
	02/27/2027
	Forfeited and cancelled

	2016 LTIP
	10,470
	$30.6000
	03/01/2026
	Forfeited and cancelled

	2015 LTIP
	1,602
	$31.0200
	03/02/2025
	Forfeited and cancelled

	Vested Non-Qualified Stock Options - Exercisable through November 3, 2018 (one (1) year following the Termination Date, after which any unexercised options are forfeited and cancelled.

	Number
	Exercise Price
	Original Expiration Date
	New Expiration Date

	5,235
	$30.6000
	03/01/2026
	11/03/2018

	3,204
	$31.0200
	03/02/2025
	11/03/2018

	4,656
	$26.6600
	02/24/2024
	11/03/2018

	4,779
	$25.5600
	02/22/2023
	11/03/2018

	5,427
	$22.4100
	02/23/2022
	11/03/2018

	5,652
	$17.3200
	02/23/2021
	11/03/2018

	20,000
	$21.5200
	07/29/2019
	11/03/2018

	4,797
	$19.7100
	02/25/2020
	11/03/2018

	Non-vested Restricted Stock Awards outstanding as of the Termination Date - Forfeited and cancelled as of the Termination Date

	Plan
	Number of Shares of Restricted Stock
	Status

	2017 Plan
	1,737
	Forfeited and cancelled

	2016 Plan
	1,362
	Forfeited and cancelled

	2015 Plan
	312
	Forfeited and cancelled

	Performance Awards outstanding as of the Termination Date - Prorated by number of days employed during the applicable performance period

	Plan
	Original Award
	Proration Factor 
	Eligible for Award Subject to Actual Performance

	2017 LTIP
	Target of $82,500
	307 days/1,092 days
	New Target of $23,200

	2016 LTIP
	Target of $75,000
	671 days/1,093 days
	New Target of $46,000

	2015 LTIP
	Target of $58,100
	1,035 days/1,093 days
	New Target of $55,000

	Performance Restricted Stock Unit Awards outstanding as of the Termination Date

	Plan
	Original Award
	Proration Factor 
	Eligible for Award Subject to Actual Performance

	2017 EIP
	7,742
	89 days/1,241 days
	New Target of 555 units

	2017 LTIP
	1,402
	307 days/1,092 days
	New Target of 394 units

	2016 LTIP
	1,678
	671 days/1,093 days
	New Target of 1,030 units

	2015 LTIP
	0
	N/A
	N/A

	Performance Non-Qualified Stock Option Awards outstanding as of the Termination Date

	2017 EIP
	50,460
	89 days/1,241 days
	New Target of 3,619 stock optionsExhibit

SEPARATION AGREEMENT AND GENERAL RELEASE

This Separation Agreement and General Release (“Agreement”) is entered into by and between LivePerson, Inc. (the “Company”) and Daniel Murphy (the “Executive” and, together with the Company, the “Parties”), and effective as of November 9, 2017 (the “Effective Date”).
WHEREAS, the Executive has expressed his intent to terminate his employment relationship with the Company to become effective following a Transition Period (as defined below) mutually agreed upon by the Parties; 
WHEREAS, pursuant to the terms and conditions set forth herein, the Parties desire to set forth their mutual obligations during the Transition Period and thereafter; and  
WHEREAS, the Parties wish to set forth the terms of the Executive's separation agreement and general release of claims;
NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein, and for other good and sufficient consideration, the sufficiency of which is hereby acknowledged, the Company and the Executive agree as follows:
1.The period from the Effective Date of this Agreement until this Agreement is terminated pursuant to Paragraph 4 below will be referred to as the “Transition Period”.  During the Transition Period, the Executive will continue in his current role as Chief Financial Officer of the Company. Executive agrees to carry out all duties and responsibilities commensurate with the position of Chief Financial Officer in good faith.  In addition, Executive will assist with and facilitate an orderly transition of some or all of those duties and responsibilities at the end of the Transition Period pursuant to a mutually agreed Transition Plan, to be documented and agreed upon between Executive and Company no later than one week following the date hereof.  During the Transition Period Executive will not make public statements on behalf of the Company except as authorized by the Company and provided that Executive may in the ordinary course of carrying out his role conduct conversations and relay information consistent with information the Company has already shared publicly.  Absent a written agreement to the contrary, the Executive’s employment relationship with the Company will terminate pursuant to the terms of this Agreement upon the conclusion of the Transition Period pursuant to Paragraph 4 hereof.  The date on which this Agreement terminates pursuant to Paragraph 4 hereof is referred to in this Agreement as the “Separation Date”.  Following the Separation Date, Executive shall execute a general release of claims in the form attached hereto as Schedule A (the “General Release”) that becomes effective and irrevocable no later than thirty (30) days following the Separation Date (such deadline, the “Release Deadline”).     

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2.    During the Transition Period, and subject to Paragraph 7 below, the Company agrees to continue Executive’s base salary and benefits that are in effect on the date of the execution of this Agreement until the Separation Date. 
3.    Subject to Paragraph 7 below, and in exchange for Executive’s execution of and compliance with this Agreement, including without limitation execution and non-revocation of the General Release by the Release Deadline, the Company agrees to provide the following payments and benefits:
		
	(a)
	the bonus for the 2017 fiscal year equal to Executive’s target bonus for such fiscal year in the amount of Two Hundred Ten Thousand (US$210,000);

		
	(b)
	all unvested employee stock options and RSUs held by Executive as of the Separation Date will be immediately vested as of the Release Deadline. 

		
	(c)
	a separation payment equal to three (3) months of Executive’s current base salary, payable as a lump sum;

		
	(d)
	all vested stock options (including those vested as a result of the acceleration of vesting set forth in Paragraph 3(b)) held by Executive as of the Separation Date will be modified to remain exercisable for an additional period of one hundred eighty (180) days (for a total period of two hundred seventy (270) days immediately following the Separation Date), but in no event shall any employee equity be extended to remain exercisable beyond the original end of the term of such option. 

4.This Agreement and the Executive’s employment will terminate upon the earliest to occur of the following: (a) close of business on February 16, 2018 (the “Transition Date”); (b) an earlier Separation Date of which Company notifies Executive in writing upon 7 days advance notice ; (c) the Executive’s provision of written notice to the Company of his resignation for Good Reason (as defined in Paragraph 6) and the Company's failure to cure such Good Reason within 10 days of such notice; (d) the Company’s provision of written notice of Executive’s termination with Cause as defined in Paragraph 5 below; (e) the Company’s earlier termination due to the Executive's death or loss of legal capacity. For purposes of clarification, any termination of Executive’s employment pursuant to this Paragraph 4 shall qualify as a “separation from service” within the meaning of Section 409A (as defined below). 
5.As used in this Agreement “Cause” shall mean: (a) the Executive’s material and willful failure or refusal to perform his duties and responsibilities set forth in Paragraph 1 above which is not cured,  within ten (10) days of notice of such failure or refusal; (b) the intentional misappropriation of the funds or property of the Company; (c) the use of illegal drugs; (d) the 

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conviction in a court of law, or entering into a plea of guilty or no contest to any felony or any crime involving moral turpitude, fraud, or theft; or (e)  the willful commission by the Executive of any act of gross misconduct that materially injures the reputation, business, or business relationships of the Company.  
6.As used in this Agreement “Good Reason” shall mean the Company's failure to meet its obligations to pay Executive’s base salary and continue Executive’s benefits during the Transition Period as set forth in Paragraph 2 of this Agreement. 
7.The following shall govern all compensation, benefits, separation and other consideration payable to Executive hereunder:
		
	a.
	If the Transition Period terminates as set forth herein on the Transition Date or an earlier date pursuant to Paragraph 4(b) above; or due to Executive’s termination for Good Reason pursuant to Paragraph 4(c) above, the Executive shall be entitled to the full benefits and compensation set forth in Paragraph 3 of this Agreement, as of the Release Deadline and conditioned upon execution and non-revocation of the General Release described in Paragraph 1, and to those benefits and compensation described in Paragraph 2 that are actually earned and payable to him through the date of termination. 

		
	b.
	If this Agreement is terminated for Cause pursuant to Paragraph 4(d) above, or due to Executive’s resignation without Good Reason prior to the Transition Date, Executive will be entitled to receive only those benefits and compensation described in Paragraph 2 that are actually earned and payable to him through the date of termination.   

		
	c.
	If the Agreement is terminated due to Executive’s death or loss of legal capacity pursuant to Paragraph 4(e) above, the Executive shall be entitled to receive the full benefits and compensation set forth in Paragraph 3 of this Agreement as of the Release Deadline, provided that an authorized representative of Executive or his estate has signed and not revoked the General Release described in Paragraph 1 on behalf of Executive or his estate, and to those benefits and compensation described in Paragraph 2 that are actually earned and payable to him through the date of termination.

8.In exchange for the payments and benefits provided for in this Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Executive hereby forever unconditionally and irrevocably releases and discharges the Company, and each and all of its direct and indirect affiliates, parents, subsidiaries (wholly-owned or not), members, branches, divisions, business units or groups, agencies, predecessors, successors and assigns, any employee benefit plans established or maintained by any of the foregoing entities and each and all of their current and former officers, directors, 

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employees, trustees, plan administrators, agents, attorneys, representatives, partners, advisors and shareholders (collectively and individually, the “Released Parties”), from any and all claims, demands, causes of action, complaints, agreements, promises (express or implied), contracts, undertakings, covenants, guarantees, grievances, liabilities, damages, rights, obligations, expenses, debts and demands whatsoever, in law or equity, known or unknown, whether present or future, whether known or unknown, and of whatsoever kind or nature that the Executive, his heirs, executors, administrators, representatives and assigns ever had, now have or hereafter can, shall or may have, for, upon, or by reason of any alleged or actual matter, omission, act, cause or thing from the beginning of time until the date he signs this Agreement, including, but not limited to, those arising out of his employment or the termination thereof. 
The Executive understands and acknowledges that by signing this Agreement he is waiving and releasing any and all claims he may have concerning the terms and conditions of his employment and the termination of his employment including those prohibiting discrimination on the basis of age, sex, race, color, disability, religion, creed, national origin, ancestry, sexual orientation, gender expression, gender identity, handicap, marital status, citizenship or any other protected factor or characteristic, prohibiting discrimination for requesting or taking a family or medical leave, prohibiting discrimination with regard to benefits or any other terms and conditions of employment, or prohibiting retaliation in connection with any complaint or claim of alleged discrimination or harassment and that he intends to do so.  As such, this release includes, but is not limited to, any claims arising under Title VII of the 1964 Civil Rights Act, 42 U. S. C. § 2000e et seq.; the Age Discrimination in Employment Act, 29 U. S. C. § 621, et seq.; the Older Workers’ Benefit Protection Act, 29 U.S.C. §626(f), et seq.; the Americans with Disabilities Act, 42 U. S. C. § 12101 et seq.; the Employee Retirement and Income Security Act, 29 U. S. C. § 1001 et seq.; the Fair Labor Standards Act, as amended, 29 U.S.C. § 201 et seq.; the Family Medical Leave Act, 29 U.S.C. §§ 2601 et seq.; the New York State Human Rights Law, N.Y. Exec. Law § 290 et seq.; New York Equal Rights Law, N.Y. Civ. Rights Law § 40-c et seq.; New York Whistleblower Protection Law, N.Y. Lab. Law § 740 et seq.; New York Family Leave Law, N.Y. Lab. Law § 201-c; New York Equal Pay Law, N.Y. Lab. Law § 194; N.Y. Lab. Law § 215; the New York City Human Rights Law, Administrative Code of the City of New York, Section 8-101 et seq.; and any other federal or state constitutions, federal, state or local statutes, or any contract, quasi contract, common law or tort claims, whether known or unknown, suspected or unsuspected, concealed or hidden, or developed or undeveloped, up through the date of his execution of this Agreement.  The Executive further agrees that he will not institute or authorize any other party, governmental or otherwise, to institute any administrative or legal proceeding seeking compensation or damages on his behalf against the Released Parties relating to or arising out of any aspect of his employment or termination. 
9.  The Executive represents that as of the Effective Date he was not denied a request for leave, or retaliated against for taking leave under the Family and Medical Leave Act, 29 U.S.C. §§2601 et seq., at any time during his employment with the Company. 
10.The Executive acknowledges and agrees that throughout the Transition Period and after his employment he will continue to be obliged by the terms of the existing

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 Proprietary Information, Developments and Non-Compete Agreement executed by and between the Executive and the Company,  and:  
a.    The Executive agrees, with reasonable notice, to furnish information as may be in his possession and cooperate with the Company as may be reasonably requested in connection with any claims or legal action in which the Company is or may become a party.  For any such request made after the Executive’s termination, the Company shall compensate the Executive at one hundred dollars ($100) per hour for such services.  
b.    The Executive recognizes and acknowledges that all information pertaining to the software, business, clients, customers or other relationships of the Company is confidential and is a unique and valuable asset of the Company.  The Executive will not give to any person, firm, governmental agency or other entity any information concerning the affairs, business, clients, or customers of the Company except as required by law.  The Executive will not make use of this type of information for his own purposes or for the benefit of any person or organization other than the Company.  The Executive will use his best efforts to prevent the disclosure of this information by others. All records, memoranda, software or intellectual property whether made by the Executive or otherwise coming into his possession are confidential and will remain the property of the Company. The foregoing restrictions shall not apply to information which is or becomes part of the public domain through no act or failure to act by the Executive. Pursuant to 18 U.S.C. § 1833(b), Executive acknowledges that Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret if he/she (i) makes such disclosure in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and such disclosure is made solely for the purpose of reporting or investigating a suspected violation of law; or (ii) such disclosure was made in a complaint or other document filed in a lawsuit or other proceeding if such filing is made under seal. Executive understands that if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney and use the trade secret information in the court proceeding if Executive (x) files any document containing the trade secret under seal, and (y) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement, or any other agreement that Executive has with the Company, is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. Further, nothing in this Agreement or any other agreement that Executive has with the Company shall prohibit or restrict Executive from making any voluntary disclosure of information or documents concerning possible violations of law to any governmental agency or legislative body, or any self-regulatory organization, in each case, without advance notice to the Company.
c.    During the Transition Period and for a twelve (12) month period after the Separation Date (the “Restricted Period”), the Executive will not intentionally 

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make any statement or perform any acts intended to or which the Executive knew or should have known would have the effect of injuring the interest of the Company.
d.    During the Restricted Period, the Executive, without prior express written approval from the Company, will not engage with, or directly or indirectly own or hold proprietary interest in, manage, operate, or control or join or participate in the ownership, management, operation or control of, or furnish any capital to or be connected in any manner with, any party which directly competes with the business of the Company.  For the purposes of this Agreement, proprietary interest means legal or equitable ownership, whether through stock holding or otherwise, or an equity interest in a business, firm or entity or ownership of more than two percent (2%) of any class of equity interest in a publicly-held company and the term “affiliate” shall include all subsidiaries and licensees of the Company.
e.    During the Restricted Period, the Executive, without express written approval from the Company, will not solicit any clients of the Company for any existing business of the Company.
f.     During the Restricted Period, the Executive (acting on his own behalf, or for or through others) will not actively solicit or induce any employee of the Company to terminate their employment with the Company or engage in activities that directly compete with the business of the Company.
11.The Executive acknowledges and agrees that the Company's obligation to make any payments under this Agreement shall cease upon any violation of Paragraph 10 above. The Company must first provide written notice to the Executive specifying the act which has violated Paragraph 10, and if such violation is not cured within fifteen (15) days, if capable of being cured, than the Company will inform the Executive of its termination of its post-employment payments.  The Executive agrees that the restrictions contained in Paragraph 10 are essential elements of this Agreement, and, but for the Executive's agreement to comply with such restrictions, the Company would not have entered into this Agreement. 
12.The Executive represents that upon the conclusion of the Transition Period he will certify that he has returned to the Company all Company property and equipment in his possession or control, including, but not limited to, computer equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones, pagers, etc.),  customer information, customer lists, employee lists, Company files, notes, contracts, records, business plans, financial information, specifications, computer-recorded information, software, tangible property, identification badges and keys, and any other materials of any kind which contain or embody any proprietary or confidential material of the Company (and all reproductions thereof).  The Executive also represents that upon the conclusion of the Transition Period he will certify that he has left intact all electronic Company documents, including those that he developed or helped to develop during his employment.  The Executive further represents that he will certify that he has cancelled all accounts for his benefit, if any, in the Company's name including, but not limited to, credit cards, telephone charge cards, cellular phone accounts, pager accounts, and computer accounts, at the conclusion of the Transition Period. Notwithstanding the foregoing, the Company 

6

will assist Executive in making an electronic copy of his contact list in whatever format Executive reasonably requests.
13.The Executive agrees that he will not, at any time, publicly disparage, criticize or ridicule the Company, nor make any negative public comments regarding the Company, its officers, employees, directors, products, services or business practices. The Company agrees that its officers, directors and authorized spokespersons will not at any time publicly disparage, criticize, or ridicule the Executive or make any negative public comments regarding the Executive.  All amounts payable under this Agreement shall be subject to deduction for all federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation and any other required deductions.  The parties intend that all payments made under this Agreement comply with, or will be exempt from, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, the regulations and other guidance there under and any state law of similar effect (collectively “Section 409A”) so that none of the payments or benefits will be subject to the adverse tax penalties imposed under Section 409A, and any ambiguities herein will be interpreted to so comply or be exempt.  Each payment and benefit payable under this Agreement is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.  Company shall have no liability to the Executive or to any other person if the payments and benefits provided in this Agreement that are intended to be exempt from or compliant with Section 409A are not so exempt or compliant. In no event will the Company be responsible for or reimburse Executive for any taxes or other penalties that may be imposed on Executive as a result of Section 409A.
14.This Agreement amicably resolves any issues between the parties and they agree that this Agreement shall neither be interpreted nor construed as an admission of any wrongdoing or liability on the part of the Executive or the Company.
15.This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflicts of laws.  The Executive hereby submits to and acknowledges and recognizes the jurisdiction of the courts of the State of New York, or, if appropriate, a federal court located in New York (which courts, for purposes of this Agreement, are the only courts of competent jurisdiction) over any suit, action or other proceeding arising out of, under, or in connection with this Agreement or the subject matter hereof.
16.The provisions of this Agreement are severable.  If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted from this Agreement and such invalidity or unenforceability shall not affect any other provision of this Agreement, the balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.
17.The Executive understands and agrees that he may have, and has had, at least twenty-one (21) calendar days from the date hereof to accept this Agreement.  The Executive acknowledges that he was advised by the Company to consult with an attorney of his own choosing concerning the waivers contained in and the terms of this Agreement, and that the waivers he has 

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made and the terms he has agreed to herein are knowing, conscious and with full appreciation that he is forever foreclosed from pursuing any of the rights so waived.
18.The Executive has seven (7) days after the execution of this Agreement within which he may revoke this Agreement.  In order to revoke this Agreement, the Executive must deliver to the Company’s Human Resources Department, with a copy to the Company’s General Counsel, on or before seven (7) days after the execution of this Agreement a letter stating that he is revoking this Agreement.
19.This Agreement shall be binding on and shall inure to the benefit of the Executive's heirs, executors, administrators, representatives and assigns and the Company's successors in interest and assigns.  The Executive may not assign any of his rights or duties hereunder, except with the written consent of the Company.  The Executive covenants and represents that he has not assigned or attempted to assign any rights or claims he may have against the Company at any time prior to signing this Agreement.
20.    The Company will indemnify the Executive to the fullest extent permitted by the laws of Delaware in effect at that time, the Indemnification Agreement previously executed between the Executive and the Company, or the certificate of incorporation and by-laws of the Company, whichever affords the greater protection to the Executive.

21.The parties agree that this Agreement contains the entire agreement between the parties and supersedes and cancels any and all prior agreement or understanding on the subjects covered herein, and no agreements, representations or statements of either party not contained in this Agreement shall bind that party.  Notwithstanding the foregoing, the Executive acknowledges that nothing herein supersedes any pre-existing duties of confidentiality, or the assignment of any invention or intellectual property or proprietary rights to the Company.  This Agreement can be modified only in writing signed by both parties.

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IN WITNESS WHEREOF, the parties have executed this Agreement.
	
					
	 
	Executive
	 
	 
	LivePerson, Inc.

	By:
	/s/ Daniel R. Murphy
	 
	By:
	/s/ Robert LoCascio

	Date:
	11/9/2017
	 
	Date:
	11/9/2017

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SCHEDULE A
GENERAL RELEASE OF ALL CLAIMS
Pursuant to the Separation Agreement and General Release entered into by and between LivePerson, Inc. (the “Company”) and Daniel Murphy (the “Executive”), dated effective as of November 9, 2017 (the “Separation Agreement”), Executive hereby enters into this General Release of All Claims (the “Release”).  In consideration of the separation payments and benefits set forth in Paragraph 3 of the Separation Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Executive hereby forever unconditionally and irrevocably releases and discharges the Company, and each and all of its direct and indirect affiliates, parents, subsidiaries (wholly-owned or not), members, branches, divisions, business units or groups, agencies, predecessors, successors and assigns, any employee benefit plans established or maintained by any of the foregoing entities and each and all of their current and former officers, directors, employees, trustees, plan administrators, agents, attorneys, representatives, partners, advisors and shareholders (collectively and individually, the “Released Parties”), from any and all claims, demands, causes of action, complaints, agreements, promises (express or implied), contracts, undertakings, covenants, guarantees  grievances, liabilities, damages, rights, obligations, expenses, debts and demands whatsoever, in law or equity, known or unknown, whether present or future, whether known or unknown, and of whatsoever kind or nature that the Executive, his heirs, executors, administrators, representatives and assigns ever had, now have or hereafter can, shall or may have, for, upon, or by reason of any alleged or actual matter, omission, act, cause or thing from the beginning of time until the date he signs this Release, including, but not limited to, those

10

 arising out of his employment or the termination thereof; provided, however, that the foregoing shall not release Company from  its continuing obligations set forth in the Separation Agreement. 
The Executive understands and acknowledges that by signing this Release he is waiving and releasing any and all claims he may have concerning the terms and conditions of his employment and the termination of his employment including those prohibiting discrimination on the basis of age, sex, race, color, disability, religion, creed, national origin, ancestry, sexual orientation, gender expression, gender identity, handicap, marital status, citizenship or any other protected factor or characteristic, prohibiting discrimination for requesting or taking a family or medical leave, prohibiting discrimination with regard to benefits or any other terms and conditions of employment, or prohibiting retaliation in connection with any complaint or claim of alleged discrimination or harassment and that he intends to do so.  As such, this release includes, but is not limited to, any claims arising under Title VII of the 1964 Civil Rights Act, 42 U. S. C. § 2000e et seq.; the Age Discrimination in Employment Act, 29 U. S. C. § 621, et seq.; the Older Workers’ Benefit Protection Act, 29 U.S.C. §626(f), et seq.; the Americans with Disabilities Act, 42 U. S. C. § 12101 et seq.; the Employee Retirement and Income Security Act, 29 U. S. C. § 1001 et seq.; the Fair Labor Standards Act, as amended, 29 U.S.C. § 201 et seq.; the Family Medical Leave Act, 29 U.S.C. §§ 2601 et seq.; the New York State Human Rights Law, N.Y. Exec. Law § 290 et seq.; New York Equal Rights Law, N.Y. Civ. Rights Law § 40-c et seq.; New York Whistleblower Protection Law, N.Y. Lab. Law § 740 et seq.; New York Family Leave Law, N.Y. Lab. Law § 201-c; New York Equal Pay Law, N.Y. Lab. Law § 194; N.Y. Lab. Law § 215; the New York City Human Rights Law, Administrative Code of the City of New York, Section 8-101 et seq.; and any other federal or state constitutions, federal, state or local 

11

statutes, or any contract, quasi contract, common law or tort claims, whether known or unknown, suspected or unsuspected, concealed or hidden, or developed or undeveloped, up through the date of his execution of this Release.  The Executive further agrees that he will not institute or authorize any other party, governmental or otherwise, to institute any administrative or legal proceeding seeking compensation or damages on his behalf against the Released Parties relating to or arising out of any aspect of his employment or termination. 
The Executive acknowledges and agrees that, as of the date of this Release, Executive has been paid all compensation (including without limitation any accrued but unused vacation or paid time off) for all of Executive’s service with the Company except for compensation owed to Executive pursuant to the provisions of the Separation Agreement.  The Executive represents that as of the date hereof he was not denied a request for leave, or retaliated against for taking leave under the Family and Medical Leave Act, 29 U.S.C. §§2601 et seq., at any time during his employment with the Company. Executive and the Company also hereby agree that nothing contained in this Release shall constitute or be treated as an admission of liability or wrongdoing or of any violation of law by the Company or the Executive.
This Release constitutes the entire agreement between the Executive and the Company with regard to the subject matter of this Release.  This Release supersedes any other agreements, representations or understandings, whether oral or written and whether express or implied, which relate to the subject matter of this Release other than the continuing obligations of Executive and Company that are set forth in the Separation Agreement.  The Executive understands and agrees that this Release may be modified only in a written document signed by the Executive and a duly authorized officer of the Company.

12

This Release shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflicts of laws.  The Executive hereby submits to and acknowledges and recognizes the jurisdiction of the courts of the State of New York, or, if appropriate, a federal court located in New York (which courts, for purposes of this Release, are the only courts of competent jurisdiction) over any suit, action or other proceeding arising out of, under, or in connection with this Release or the subject matter hereof.
The provisions of this Release are severable.  If any provision of this Release is held invalid or unenforceable, such provision shall be deemed deleted from this Release and such invalidity or unenforceability shall not affect any other provision of this Release, the balance of which will remain in and have its intended full force and effect.  However that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.
By signing below, the Executive acknowledges that this Release affects substantial rights and that the Executive has been advised to consult with an attorney prior to execution of this Release.  The Executive further understands and acknowledges that the Executive has up to twenty-one (21) days following the Separation Date (as defined in Paragraph 1 of the Separation Agreement) to review this Release and to discuss it with an attorney of the Executive’s own choosing, at the Executive’s own expense, whether or not the Executive wishes to sign this Release.  Furthermore, the Executive understands and acknowledges that the Executive has seven (7) days after the Executive signs this Release during which time the Executive may revoke this Release.  If the Executive wishes to revoke this Release, the 

13

Executive may do so by delivering a letter of revocation to the Company’s Human Resources Department with a copy to the Company’s General Counsel, by 5 p.m. EST on the seventh (7) days after the Executive signs this Release.
Because of the revocation period, the Executive understands that this Release will not become effective or enforceable until the eighth (8th) day after the date the Executive signs this Release.
To accept this Release, the Executive must sign and date this Release and return it to the Company’s Human Resources Department with a copy to the Company’s General Counsel.
The Executive’s agreement with the terms of this Release is signified by the Executive’s signature below.  Furthermore, the Executive acknowledges that the Executive has read and understands this Release and that the Executive signs this Release of all claims voluntarily, with full appreciation that at no time in the future may the Executive pursue any of the rights that the Executive has waived in this Release.

	
					
	Date*:
	 
	 
	By:
	 

*Note that this Release must be executed on or after the Separation Date.

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