Document:

mfrm_Ex10.10

		

			Exhibit 10.10

		

		
			CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE
		

		
			This Confidential Separation Agreement and General Release (this “Agreement”), dated effective as of 5:00 p.m. (local time) on April 1, 2016 (the “Effective Date”), is made by and between MATTRESS FIRM, INC., a Delaware corporation, individually and on behalf of its  and its parent companies and subsidiaries (together “MFRM” or the “Company”), and Robert D. Killgore (“you,” “your” or “yourself”), a natural person.  Each of the foregoing parties – the Company and you – may be referred to herein, individually, as a “Party” and collectively, as the “Parties.”
		

		
			This Agreement shall constitute the “Release” described in Section 7(h) of that certain Employment Agreement dated October 20, 2014 by and among Robert D. Killgore, Mattress Firm Holding Corp. and Mattress Firm, Inc., as amended by that certain First Amendment to Employment Agreement effective September 10, 2015 (collectively, the “Employment Agreement”).
		

		
			 
		

		
			In consideration of the payment and the mutual covenants set forth in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties, intending to be legally bound and, enter into, and knowingly and voluntarily agree to all of the terms and conditions of, this Agreement as follows:
		

		
			 
		

			
	
			
				 A.
			

			
	
			
			Your employment with the Company and the Employment Agreement is terminated effective as of the Effective Date.  

			
	
			
				 B.
			

			
	
			
			This Agreement states the mutual agreement of the Company (for itself, its predecessors, successors, affiliates, partial affiliates, shareholders, officers, directors, agents, representatives, and employees, all individually and in their official capacities), on the one hand, and you, Robert D. Killgore (for yourself, your spouse, executors, heirs, beneficiaries, representatives, personal representatives, successors, and assigns), on the other hand, regarding the termination of your employment with the Company.

			
	
			
				 C.
			

			
	
			
			By signing this Agreement, you knowingly and voluntarily acknowledge, agree to and do represent and warrant the following:

			
	
			
				 (1)
			That, as of the Effective Date, you have turned over to the Company all property belonging to the Company (including all computer files, computer discs, documents, notes, papers, correspondence, keys, and issued equipment); and that if you should find yourself in possession of any property of the Company at any time after the Effective Date, you will return such property to the Company immediately;

	
	
			
			 	 (2)
			

			
	
			
				 (3)
			That you will not make any statements about the Company or any of its officers, directors, or employees which could be construed by a reasonable person as negative or derogatory;

			
	
			
				 (4)
			That in the event you seek reemployment or future employment with the Company after the date of this Agreement, you understand and agree that the Company will have 

		 

		

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	the complete and unfettered right to reject your application for employment immediately and summarily;

			
	
			
				 (5)
			That you agree that you will comply with Section 8 of the Employment Agreement, which shall survive the termination of the Employment Agreement in accordance with its terms;

			
	
			
				 (6)
			That the terms of the Agreement shall be considered confidential and will not be disclosed or communicated in any manner except as required by applicable law or to your spouse, attorney or financial advisor.  In addition, you agree not to disclose any Company Confidential Information or proprietary information regarding the Company, except upon written consent of the Company.  “Company Confidential Information” means information (a) disclosed or known by you as a consequence of or through your employment with the Company; (b) not generally known outside of the Company; and (c) which relates, in any manner, to the Company’s business.  Examples of Confidential Information include, but are not limited to, vendor and supply agreements, databases, methods, programs, techniques, business information, financial information, marketing and business plans, proprietary software, personnel information and files, client information, pricing, information regarding Company associates, information regarding the Company’s relationships with its associates and other information relating to the business of the Company that is not known generally to the public or others outside of the Company.  

			
	
			
				 (7)
			That, in consideration of the Severance Benefits (as defined below),  as of the date hereof, you, for yourself and on behalf of your successors, heirs, partners, beneficiaries and assigns, hereby unconditionally, irrevocably, completely, and forever WAIVE, RELEASE, DISCHARGE and ACQUIT the Company and its affiliates, together with their past and present directors, officers, partners, members, shareholders, managers, employees, agents, insurers, attorneys and any other party associated with the Company, to the fullest extent permitted by applicable law, from any and all claims, obligations, costs, losses, expenses (including attorney’s fees), causes of action, rights, demands, debts, liens, liabilities or damages of any nature whatsoever, whether known or unknown, pending or threatened, direct or contingent, suspected or unsuspected, including, without limitation, rights arising out of alleged violations of any contracts, express or implied, any covenant of good faith and fair dealing, express or implied, or any tort which you have now or at any time hereafter may have by reason of any matter, cause, thing, act, occurrence, omission or any other factor, situation or event whatsoever that has arisen, occurred or accrued on or prior to the date hereof against the Company or any of the foregoing, including, without limitation, any claims (i) that arise out of your employment and/or the termination of your employment with the Company or any of its affiliates, (ii) that arise, whether in contract or in tort, based upon fraud or misrepresentation, breach of duty or common law, or (iii) that arise under or by virtue of any judicial decision, statute or regulation, for past, present, known, and unknown injuries, property or economic damage, and all other losses and damages of any kind.  In addition, you hereby waive all rights and benefits afforded by any state laws which provide in substance that a general release does not extend to claims which a person does not know or suspect to exist in his favor at the time of executing the release which, if known by him, must have materially affected his settlement with the other person.  The only exceptions to the foregoing are claims and rights that may arise from events, actions or failures after the Effective Date and any claims which cannot be waived by 

		 

		

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	law, including your right to file a charge with or participate in an investigation conducted by the U.S. Equal Employment Opportunity Commission.  You do, however, waive any right to any monetary or other relief of any kind flowing out of any agency or third-party claims or charges, including any charge you might file with any state, local or federal agency.  The foregoing waiver and release includes claims, if any, arising under the following:

			
	
			
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			Title VII of the Civil Rights Act of 1964, as amended;

			
	
			
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			The Americans with Disabilities Act of 1990, as amended;

			
	
			
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			The Age Discrimination in Employment Act of 1967, as amended;

			
	
			
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			The Fair Labor Standards Act, as amended;

			
	
			
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			The Family and Medical Leave Act of 1993;

			
	
			
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			Employee Retirement Income Security Act (ERISA)

			
	
			
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			Texas Labor Code § 21.001, et seq. (Texas Employment Discrimination)

			
	
			
				 ·
			

			
	
			
			Texas Labor Code § 61.001, et seq. (Texas Pay Day Act)

			
	
			
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			Texas Labor Code § 62.002, et. seq. (Texas Minimum Wage Act)

			
	
			
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			Texas Labor Code § 201.001, et seq. (Texas Unemployment Compensation Act)

			
	
			
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			Texas Labor Code § 401.001,  et seq. specifically § 451.001 formerly codified as Article 8307c of the Revised Civil Statutes (Texas Workers’ Compensation Act and Discrimination Issues)

			
	
			
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			any other federal, state or local civil or human rights law or other local, state or federal law, regulation or ordinance;

			
	
			
				 ·
			

			
	
			
			any public policy, contract, tort, or common law; or

			
	
			
				 ·
			

			
	
			
			any allegation for damages, costs, fees, or expenses including attorneys’ fees incurred in these matters;

			
	
			
				 (8)
			That, in consideration of the Severance Benefits,  you, for yourself and on behalf of your successors, heirs, beneficiaries and assigns, hereby irrevocably covenant to refrain from, directly or indirectly, asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any kind against the Company or any of its affiliates based upon any claim released hereby.  You agree to INDEMNIFY and DEFEND the Company and its affiliates and to HOLD the Company and its affiliates HARMLESS against all damages, liabilities and expenses (including attorney’s fees) from all claims that have been or that may later be asserted against the Company or any of its affiliates by any person, entity, firm, or corporation claiming by, through, or on behalf of you;

		 

		

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				 (9)
			That you will not disclose either the fact of or the terms of this Agreement except as may be required to comply with applicable law or to an attorney with whom you choose to consult regarding your consideration of this Agreement;

			
	
			
				 (10)
			That if you breach any of the promises in this Agreement or if you challenge the general release stated in this Agreement, the Company shall have the right to require you to return all monies paid to you and to cease any and all remaining payments offered to you in consideration of your signing this Agreement;

			
	
			
				 (11)
			That you will not receive the monies and/or benefits specified below except for your execution and non-revocation of this Agreement and the fulfillment of the promises herein (which means that, even if you sign this Agreement today, any amounts owed to you hereunder (excluding normal wages) will not be paid until the expiration of the non-revocation period);

			
	
			
				 (12)
			That the Company does hereby advise you that you should consult with an attorney regarding the waivers and releases in this Agreement and that you have up to twenty-one (21) days to consider signing this agreement and that you hereby waive the twenty-one (21) day consideration period.

			
	
			
				 (13)
			that the Company does hereby advise you that you may revoke this Agreement for a period of seven (7) days following the day you execute this Agreement.  Any revocation within this period must be submitted, in writing, to the Company and state, “I hereby revoke my acceptance of our Agreement.”  The revocation must be personally delivered or mailed to ABBY LUDENS, 5815 Gulf Freeway, Houston, TX  77023 and postmarked prior to the expiration of seven (7) days after execution of this Agreement.  This Agreement shall not become effective or enforceable until the revocation period has expired.  If the last day of the revocation period is a Saturday, Sunday, or legal holiday in your state of employment, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday.  

			
	
			
				 (14)
			That you have made reasonable efforts to understand fully the terms of this Agreement, including the nature and extent of the claims released, and that you are freely and knowingly, after adequate consideration, agreeing to its terms;

			
	
			
				 (15)
			That you have received payment of undisputed wages due to you, less applicable payroll deductions such as federal and state taxes, other than wages due for the current pay period;

			
	
			
				 (16)
			That you have not been induced to execute this Agreement by any representations or agreements other than what is expressly set forth in this Agreement; that this Agreement constitutes the entire agreement between you and the Company and supersedes all prior oral and/or written agreements with the Company except those pertaining to non-disclosure of 

		 

		

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	confidential, proprietary information and trade secrets; and that this Agreement may not be modified except by written agreement with the Company executed by you and an authorized officer of the Company;

			
	
			
				 (17)
			  That if any provision of this Agreement is prohibited by law and cannot be modified to be enforceable, such provision shall immediately become null and void, leaving the remainder of this Agreement in full force and effect; and

			
	
			
				 (18)
			That this Agreement is performable in Texas and shall be interpreted in all respects under the laws of the State of Texas (excluding its choice of law rules) and jurisdiction and venue (location of any lawsuit) shall be solely in Harris County, Texas.

			
	
			
				 D.
			

			
	
			
			In consideration for your signing and not revoking this Agreement and your compliance with the promises made herein and in accordance with Section 7 of the Employment Agreement,  as adjusted by the Compensation Committee of Mattress Firm Holding Corp., the Company agrees to make the following payments to you or on your behalf (collectively, the “Severance Benefits”) as follows:

			
	
			
				 (1)
			

			
	
			
			to pay to you all unpaid base balary at your current salary rate through and including April 1, 2016, less lawful deductions, on the first payroll date after the expiration of the seven day revocation period referenced in this Agreement;

			
	
			
				 (2)
			

			
	
			
			to pay to you an amount equal to $750,000, less lawful deductions, payable over a period of eighteen (18) months on regular semi-monthly paydays (the 15th and last working day of each month).  The first payment will be made on the first payroll date after the expiration of the seven day revocation period referenced in this Agreement.

			
	
			
				 (3)
			

			
	
			
			to pay for COBRA premiums on your behalf for a period of eighteen (18) months, which period shall commence on May 1, 2016, until you are eligible for benefits on another employer’s health plan; and 

			
	
			
				 (4)
			

			
	
			
			to pay to you the cash bonus, if any, due and payable to you pursuant to Section 5(b)(iv) of the Employment Agreement irrespective of the termination of your employment.  Such bonus will be paid on the date the EBITDA bonus, if any, is paid to the other plan participants by the Company.

			
	
			
				 E.
			

			
	
			
			You agree that this consideration is monies and benefits in excess of any amounts to which you may be entitled under any policy or custom of the Company and that the payment and benefits constitute full and fair consideration for the agreements, restrictions, representations, warrants, and waivers of rights and claims and the releases stated in this Agreement; that you have not assigned to any other person or entity any of the rights and claims waived and released in this Agreement; and that you have full right and authority to grant the waivers and releases in this Agreement; and that there are no third party claims or liens to which the payments under which this Agreement may be subject.

		
			    THE PARTIES HAVE READ AND FULLY CONSIDERED THIS AGREEMENT AND THE GENERAL RELEASE LANGUAGE IN IT AND DESIRE TO ENTER INTO 

		 

		

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THIS AGREEMENT.  YOU HAVE BEEN ADVISED THAT YOU HAVE TWENTY-ONE (21) DAYS TO CONSIDER THIS AGREEMENT AND YOU HEREBY WAIVE SUCH 21-DAY PERIOD. YOU HAVE ALSO BEEN ADVISED THAT YOU HAVE SEVEN (7) DAYS FROM THE DATE YOU EXECUTE THIS AGREEMENT TO REVOKE THIS AGREEMENT.  ANY SUCH REVOCATION MUST BE MADE IN WRITING TO THE COMPANY REPRESENTATIVE IDENTIFIED HEREIN.  YOU ALSO HAVE BEEN ADVISED HEREIN IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS AGREEMENT.  HAVING ELECTED TO EXECUTE THIS AGREEMENT AND RECEIVE THEREBY THE CONSIDERATION SET FORTH ABOVE, YOU FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTER INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS YOU HAVE OR MIGHT HAVE AGAINST THE COMPANY/RELEASED PARTIES AS OF THE DATE YOU EXECUTE THIS AGREEMENT.
		

		
			IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed and delivered this Agreement, effective as of the Effective Date.
		

		
			 
		

		
			/s/ Robert D. Killgore
Robert D. Killgore
		

		
			 
		

		
			April 1, 2016
Date
		

		
			 
		

		
			Email contact for future correspondence:
		

		
			____________________________________
		

		
			 
		

		
			 
		

		
			MATTRESS FIRM, INC.
		

		
			 
		

		
			By: /s/ Ken Murphy____________________
		

		
			Ken Murphy,  President & CEO
		

		
			 
		

		
			April 1, 2016
		

		
			Date
		

		 

		

			-  6  –mfrm_Ex10.11

		

			Exhibit 10.11

		

		
			
		

		
			 
		

		
			MFRM • 5815 Gulf Freeway  •  Houston, TX 77023
		

		
			February 23, 2015
		

		
			 
		

		
			Dear Karrie Forbes:
		

		
			 
		

		
			Mattress Firm, Inc. (Mattress Firm) is pleased to extend to you the position of Chief Business Officer, as a full-time employee, reporting directly to Steve Stagner, effective on or before March 4, 2015, or at a mutually agreed upon date. 
		

		
			 
		

		
			Compensation
		

		
			Effective May 6, 2015, subject to board approval, you will be compensated at a monthly rate of $25,833.33 (annualized at $310,000) subject to normal withholdings, paid semi-monthly.  
		

		
			 
		

		
			Mattress Firm intends to further re-evaluate its company-wide compensation program later this fiscal year.  Subject to board approval and company performance, any additional increase in your base salary will be communicated to you officially in writing prior to the effective date of any such increase. 
		

		
			 
		

		
			In addition to your salary, you will be eligible to participate in the Company’s management-level bonus program.  This program will provide you with the opportunity to earn an annual target bonus award in an amount equal to 35% of your earned wages for the year.  Based on the achievement of bonus-award goals, the actual bonus can be in the range of zero percent of earned wages to twice the target bonus percent (70%) of earned wages.  Mattress Firm reserves the right to amend or terminate any bonus programs at its discretion.  
		

		
			 
		

		
			Severance Clause
		

		
			In the event you are terminated by the Company without cause, the Company will pay you a sum equal to twelve months base salary (no bonus), subject to normal withholding, as a severance payment in exchange for a release of all claims against the Company. 
		

		
			 
		

		
			Non-Compete Agreement
		

		
			Upon your acceptance of this position, you will also be required to sign a non-compete agreement as a condition of your employment.  
		

		
			 
		

		
			Policies and Benefits
		

		
			Your benefits will remain the same. Mattress Firm reserves the right to amend or terminate any bonus program or benefits presently offered at its discretion at any time.
		

		
			 
		

		
			At-Will Employment
		

		
			If you choose to accept this offer, please understand your employment is “at will,” voluntarily entered into and is for no specific period.  As a result, you are free to resign at any time, for any reason or for no reason.  Similarly, Mattress Firm is free to conclude its at-will employment relationship with you at any time, with or without cause, and this letter does not constitute a contract of employment.  
		

		
			 
		

		
			Acceptance
		

		
			To indicate your acceptance of this offer, please sign below. This offer shall remain open until February 27, 2015 at 5 p.m. CST. This letter, along with the Mattress Firm, Inc. Associate Handbook, sets forth the terms of your employment with Mattress Firm, Inc. and supersedes any prior representations or agreements, whether written or oral. This letter may only be modified by a written agreement signed by you and the CEO of Mattress Firm, Inc.
		

		
			 
		

		
			Please return this signed letter via Docusign.    
		

		
			
Karrie,  congratulations on your new role! 
		

		
			 
		

		
			
		

		
			Abby Ludens
		

		
			Vice President Talent Management
		

		
			 
		

		
			Agreed to and Accepted by:
		

		
			 
		

		
			/s/ Karrie Forbes3/2/2015
		

		
			__________________________________________________________
		

		
			Karrie ForbesDate
		

		
			

		 

 

 
		

		
			MATTRESS FIRM, INC.
		

		
			EMPLOYMENT, CONFIDENTIALITY AND NON-COMPETITION AGREEMENT 
		

		
			As a condition of my employment in the position of Chief Business Officer with Mattress Firm, Inc., a Delaware corporation, its subsidiaries, affiliates, successors or assigns (together the “Company”), and my receipt of the compensation now and hereafter paid to me by Company and the Company’s agreement in Section 2(a) (i), I, Karrie Forbes, agree to the following terms and conditions of this Employment, Confidentiality and Non-Competition Agreement, (the “Agreement”):
		

		
			1.At-Will Employment.  I UNDERSTAND AND ACKNOWLEDGE THAT MY EMPLOYMENT WITH THE COMPANY IS FOR AN UNSPECIFIED DURATION AND CONSTITUTES “AT-WILL” EMPLOYMENT. I ALSO UNDERSTAND THAT ANY REPRESENTATION TO THE CONTRARY IS UNAUTHORIZED AND NOT VALID UNLESS OBTAINED IN WRITING AND SIGNED BY THE COMPANY’S CHIEF EXECUTIVE OFFICER. I ACKNOWLEDGE THAT THIS EMPLOYMENT RELATIONSHIP MAY BE TERMINATED AT ANY TIME, WITH OR WITHOUT GOOD CAUSE OR FOR ANY OR NO CAUSE AT THE OPTION EITHER OF THE COMPANY OR ME, WITH OR WITHOUT NOTICE.
		

		
			2.Confidential Information.
		

		
			(a)Company Information.
		

		
			(i)The Company agrees that upon my promotion, it will make available to me that Confidential Information of the Company that will be unique and extensive and that will enable me to optimize the performance of my duties to the Company, including but not limited to the Company training program.  In exchange, I agree to use such Confidential Information solely for the Company’s benefit.  Notwithstanding the proceeding sentence, I agree that upon the termination of my employment in accordance with Section 1, the Company shall have no obligation to provide or otherwise make available to me any of its Confidential Information.  I understand that “Confidential Information” means any Company proprietary information, marketing strategies, sales performance, technical data, trade secrets or know-how, including, but not limited to, research, product plans, products, services, customer lists and customers (including, but not limited to, the Company’s customers on whom I called or with whom I became acquainted during the term of my employment), markets, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, pricing, finances or other business information disclosed to me by the Company either directly or indirectly in writing, orally or by drawings or observation of parts or equipment.  I further understand that Confidential Information does not include any of the foregoing items which has become publicly known and made generally available through no wrongful act or omission of mine or of others who were under confidentiality obligations as to the item or items involved or improvements or new versions thereof.
		

		
			(ii)I agree at all times during the term of employment and thereafter, to hold in strictest confidence, and not to use, except for the exclusive benefit of the Company, or to disclose to any person, firm or corporation without written authorization of the Company’s Board of Directors, any of the Company’s Confidential Information.
		

		
			(b)Former Employer Information.  I agree that I will not, during my employment with the Company, improperly use or disclose any proprietary information or trade secrets of any former or concurrent employer or other person or entity and that I will not bring onto the premises of the Company any unpublished document or proprietary information belonging to any such employer, person or entity unless consented to in writing by such employer, person or entity.
		

		
			(c)Third Party Information.  I recognize that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information, and to use it only for certain limited purposes.  I agree to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s agreement with such third party.
		

		
			3.Assignment of Work Product.  I agree that I will promptly make a full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether or not patentable or registrable under copyright or similar laws, which I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the employ of the Company (collectively referred to as “Work Product”).  I further acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of and during the 

		 

 

period of my employment with the Company and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act.  I understand and agree that the decision whether or not to commercialize or market any Work Product developed by me solely or jointly with others is within the Company’s sole discretion and for the Company’s sole benefit and that no royalty will be due to me as a result of the Company’s efforts to commercialize or market any such invention.
		

		
			4.Conflicting Employment.  I agree that, during the term of my employment with the Company, I will devote my full time and efforts to the Company and I will not engage in any other employment, occupation or consulting activity, nor will I engage in any other activities that conflict with my obligations to the Company.
		

		
			5.Returning Company Documents, etc.  I agree that, at the time of leaving the employ of the Company, I will deliver to the Company (and will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items developed by me pursuant to my employment with the Company or otherwise belonging to the Company, its successors or assigns, including, but not limited to, those records maintained pursuant to paragraphs 2 and 3 herein, in the event of the termination of my employment. 
		

		
			6.Notification of New Employer.  In the event that I leave the employ of the Company, I hereby grant consent to notification by the Company to my new employer about my rights and obligations under this Agreement.
		

		
			7.Solicitation of Employees.  I agree that for a period of twelve (12) months immediately following the termination of my relationship with the Company for any reason, whether with or without good cause or for any or no cause, at the option either of the Company or myself, with or without notice, I will not hire any employees of the Company and I will not, either directly or indirectly, solicit, induce, recruit or encourage any of the Company’s employees to leave their employment, or take away such employees, or attempt to solicit, induce, recruit, encourage or take away employees of the Company, either for myself or for any other person or entity.
		

		
			8.Interference.  I agree that during the course of my employment and for a period of twelve (12) months immediately following the termination of my relationship with the Company for any reason, whether with or without good cause or for any or no cause, at the opinion either of the Company or myself, with or without notice, I will not, either directly or indirectly, interfere with the Company’s contracts and relationships, or prospective contracts and relationships, including, but not limited to, the Company’s customer or client contracts and relationships.
		

		
			9.Covenant Not to Compete.
		

		
			(a)I agree that during the course of my employment and for a period of twelve (12) months immediately following the termination of my relationship with the Company for any reason, whether with or without good cause or for any or no cause, at the option either of the Company or myself, with or without notice, I will not, without the prior written consent of the Company, (i) directly or indirectly, including my spouse, on behalf of any person, firm or entity, engage in the sale or lease mattresses, box springs, headboards, footboards and bed frames, or (ii) serve as an owner, partner, consultant, officer, director, manager, lender, member, investor or otherwise for, any business that competes with the Company’s business that is located within one hundred (100) miles of any Mattress Firm Store that is open and operating on the date of my termination hereof within markets in which I manage or work within, as that term is defined by the Company’s normal practices  (“Geographical Area”).  For the purpose of this Section 9(a) “competes” shall mean: providing for sale or lease mattresses, box springs, headboards, footboards and bed frames.  Notwithstanding the foregoing, nothing herein shall prohibit me from working for a business that competes with Company’s business in a capacity that is not related to providing for sale or lease mattresses, box springs, headboards, footboards and bed frames.
		

		
			(b)I acknowledge that I will derive significant value from the Company’s agreement in Section 2(a) (i) to provide me with that Confidential Information of the Company to enable me to optimize the performance of my duties to the Company.  I further acknowledge that my fulfillment of the obligations contained in this Agreement, including, but not limited to, my obligation neither to disclose nor to use the Company’s Confidential Information other than for the Company’s exclusive benefit and my obligation not to compete contained in subsection (a) above, is necessary to protect the Company’s Confidential Information and, consequently, to preserve the Company’s value and goodwill and is necessary to protect a substantial business interest of Company in the Geographical Area.  I further acknowledge that time, Geographical Area and scope limitations of my obligations under subsection (a) above are reasonable, especially in light of the Company’s desire to protect its Confidential 

		 

 

Information, and that I will not be precluded from gainful employment if I am obligated not to compete with the Company during the period and within the Geographical Areas as described above.
		

		
			(c)The covenants contained in subsection (a) above shall be construed as a series of separate covenants, one for each city, county and state of any Geographical Area defined herein.  Except for geographic coverage, each such separate covenant shall be deemed identical in terms to the covenant contained in subsection (a) above.  If, in any judicial proceeding, a court refuses to enforce any of such separate covenants (or any part thereof), then such unenforceable covenant (or such part) shall be eliminated from this Agreement to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced.  In the event the provisions of subsection (a) above are deemed to exceed the time, Geographical Area or scope limitations permitted by applicable law, then such provisions shall be reformed to the maximum time, Geographical Area or scope limitations, as the case may be, then permitted by such law.
		

		
			10.Representations.  I agree to execute any proper oath or verify any proper document required to carry out the terms of this Agreement.  I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to my employment by the Company.  I have not entered into, and I agree I will not enter into, any oral or written agreement in conflict herewith.
		

		
			11.Arbitration and Equitable Relief.
		

		
			(a)Arbitration.  Except as provided in subsection (b) below, I agree that any dispute, claim or controversy concerning my employment or the termination of my employment or any dispute, claim or controversy arising out of or relating to any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Houston, Texas in accordance with the rules then in effect of the American Arbitration Association.  The arbitrator may grant injunctions or other relief in such dispute or controversy.  The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration.  Judgment may be entered on the arbitrator’s decision in any court having jurisdiction.  The Company and I shall each pay one-half of the costs and expenses of such arbitration, and each of us shall separately pay our counsel fees and expenses.
		

		
			(b)Equitable Remedies.  I agree that it would be impossible or inadequate to measure and calculate the Company’s damages from any breach of the covenants set forth in Sections 2, 3, 4, 5, 7, 8 and 9 herein.  Accordingly, I agree that if I breach any of such Sections, the Company will have available, in addition to any other right or remedy available, the right to obtain an injunction from a court of competent jurisdiction restraining such breach or threatened breach and to specific performance of any such provision of this Agreement.  I further agree that no bond or other security shall be required in obtaining such equitable relief and I hereby consent to the issuance or such injunction and to the ordering of specific performance. 
		

		
			12.General Provisions.
		

		
			(a)Governing Law: Consent to Personal Jurisdiction.  THIS AGREEMENT WILL BE GOVERNED BY THE LAWS OF THE STATE OF TEXAS WITHOUT REGARD FOR CONFLICTS OF LAWS PRINCIPLES.  I HEREBY EXPRESSLY CONSENT TO THE PERSONAL JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN HOUSTON, TEXAS FOR ANY LAWSUIT FILED THERE AGAINST MY BY THE COMPANY CONCERNING MY EMPLOYMENT OR THE TERMINATION OF MY EMPLOYMENT OR ARISING FROM OR RELATING TO THIS AGREEMENT.
		

		
			(b)Entire Agreement.  This Agreement sets forth the entire agreement and understanding between the Company and me relating to the subject matter herein and supersedes all prior discussions between us.  No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed by the party to be charged.  Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement.
		

		
			(c)Severability.  If one or more of the provisions in this Agreement are deemed void by law, including, but not limited to, the covenant not to compete in Section 9, then the remaining provisions will continue in full force and effect.
		

		
			(d)Successors and Assigns.  This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors and its assigns.
		

		
			(e)Construction.  The language used in this Agreement will be construed to be the language chosen by the parties to express their mutual intent and no rules of strict construction will be applied against either party.
		

		
			

		 

 

(f)Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be enforceable, and all of which together shall constitute one agreement.
		

		
			13.I acknowledge and agree to each of the following items:
		

		
			(a)I am executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else; and
		

		
			(b)I have carefully read this Agreement, I have asked any questions needed for me to understand the terms, consequences and binding effect of this Agreement and fully understand them; and
		

		
			(c)I sought the advice of an attorney of my choice if I wanted to before signing this Agreement.
		

		
			Executed today,  _3/2/2015___________________________________.
		

		
			                                                                                   
		

		
			EMPLOYEE:
		

		
			/s/ Karrie Forbes
		

		
			______________________________________
		

		
			Karrie Forbes, Chief Business Officer
		

		
			 
		

		
			    MATTRESS FIRM, INC.:
		

		
			/s/ Kenneth Murphy
		

		
			               _____________________________________
		

		
			Ken Murphy, Co-Chief Operating Officer

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