Document:

EX-10.46

 Exhibit 10.46 

SUBLEASE 
 This Sublease made this
22nd of April, 2015 between Bio-Medical Applications of Illinois, Inc, a Delaware corporation (“Sublessor”), and Fenix Parts, Inc. Delaware corporation (“Sublessee”). 

Reference is hereby made to the Overlease described below. It is the intention of the parties hereto to provide for a sublease by Sublessor,
the holder of the lessee interest therein, to Sublessee of a portion of the Premises as defined in the Overlease. 
 NOW THEREFORE, the
parties hereto by mutual agreement hereby covenant and agree as follows: 
  

	1.	(a) Definitions. As used herein the following words and phrases shall have the following respective meanings: 

  

	 	(i)	“Overlease” means the Office Lease Agreement dated December 28, 2000, as amended, by and between Long Ridge Office Portfolio, L.P., as successor Landlord, and Sublessor, as successor Tenant, which lease
demises the Premises to Sublessor. 

  

	 	(ii)	“Overlandlord” means Long Ridge Office Portfolio, L.P. 

  

	 	(iii)	“Premises” means approximately 60,975 rentable square feet of certain office and storage space located in that certain building development commonly known as Westbrook Corporate Center (the
“Development”) in each of those certain buildings located and addressed at One Westbrook Corporate Center, Westchester, Illinois (“Building One”). 

 

	 	(iv)	“Subleased Premises” means a portion of the Premises consisting of 7,582 rentable square feet of space, commonly known as Suite 920 and located on the ninth
(9th) floor of Building One as shown on Exhibit A attached 

hereto including the office furniture set forth in Exhibit C attached hereto. 

 

	 	(b)	Exhibits.         Exhibit A – Plan of Subleased Premises 

Exhibit B – Copy of Overlease 

Exhibit C – Office Furniture 
  

	2.	 As the same may be hereinafter amended, and to the extent not otherwise inconsistent with the agreements and understandings expressed in this
Sublease, or applicable only to the original parties to the Overlease, all of the terms, provisions, covenants and conditions of the Overlease, a copy of which is attached hereto as Exhibit B, are hereby incorporated herein by reference. In
the event of any inconsistency between the terms and provisions of this Sublease and those of the Overlease, the terms and provisions of this Sublease shall control. Terms not otherwise defined herein shall have the meanings assigned to such terms
in the Overlease. The term “Landlord” as used in the Overlease shall refer to Sublessor hereunder, its successors and assigns; the term “Tenant” as used 

  
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in the Overlease shall refer to Sublessee hereunder, its heirs, legal representatives, successors and assigns; and the term “Lease” as used in the Overlease shall refer to this
Sublease; the term “Premises” as used in the Overlease shall refer to the Subleased Premises as defined in this Sublease. 

  

	3.	Sublease/ Use. Sublessor hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor, the Subleased Premises, upon and subject to the terms and provisions of this Sublease. The Subleased Premises
shall be used only for general office use. Sublessee covenants and agrees that the Subleased Premises shall not be used or occupied in violation of the terms of the Overlease. 

 

	4.	Term. On or before May 1,2015 (“Delivery Date”), Sublessor shall deliver the Subleased Premises to Sublessee. The Subleased Premises shall be accepted by Sublessee in its “as is”
condition and configuration without any representations or warranties by Sublessor, except as provided elsewhere in this Sublease. The term of this Sublease shall commence on the Delivery Date (“Commencement Date”) and shall expire on
September 30,2018. Sublessee is not entitled to exercise any of Sublessor rights to extend the term of the Overlease, and Sublessee has no right to extend the term of this Sublease. 

Notwithstanding anything to the contrary contained in the Sublease, Sublessee shall have the right to terminate the Sublease upon not less than
thirty (30) days’ prior written notice to Sublessor, said notice to be received by Sublessor at any time on or before July 31, 2015. 

Sublessee shall have the right to beneficial occupancy if the sublease is executed prior to May 1,2015, 

 

	5.	Base Rent/ Security Deposit. 

 (a) Commencing on the Commencement Date, Sublessee shall
pay to Sublessor Base Rent for the Subleased Premises as follows: 
  

									
	 Period
	  	Rent/
SF	 	  	Monthly Base Rent	 
	 5/1/15 – 6/30/15
	  	$	18.00	  	  	$	11,373.00	  
	 7/1/15 – 9/30/15*
	  	$	0.00	  	  	$	0.00	  
	 10/1/15 – 3/31/16
	  	$	18.00	  	  	$	11,373.00	  
	 4/ 1/16 – 3/31/17
	  	$	18.50	  	  	$	11,688.92	  
	 4/1/17 – 3/31/18
	  	$	19.00	  	  	$	12,004.83	  
	 4/1/18 – 9/30/18
	  	$	19.50	  	  	$	12,320.75	  

  

	*	Base Rent shall be abated for 3 months if Sublessee does not exercise the termination right set forth in paragraph 4 above. 

  
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 Sublessee shall pay the Base Rent to Sublessor in equal monthly installments due in advance on
the first day of each month and payment shall be sent to Sublessor at the following address: 
 c/o Fresenius Medical Care North America 

Attn: Janice Mitchell 
 SE
Business Unit Finance Center 
 100 Galleria Pkwy, Suite 1200 

Atlanta GA 30339 
 (b) Upon the
full execution of this Lease, Sublessee shall deposit with Sublessor a security deposit in amount equal to three month’s rent or $34,119.00 (the “Security Deposit”). The Security Deposit shall be held by Sublessor as security for the
performance by Sublessee of Sublessee’s covenants and obligations under this Lease, it being expressly understood that the Security Deposit shall not be considered an advance payment of rental or a measure of Sublessee’s damages in case of
default by Sublessee. Sublessor may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearages of rent or to satisfy any other covenant or obligation of Sublessee
hereunder. Following any such application of the Security Deposit, Sublessee shall pay to Sublessor on demand the amount so applied in order to restore the Security Deposit to its original amount. If Sublessee is not in default at the termination of
this Lease or if any money is owed to the Sublessor, the balance of the Security Deposit remaining after any such application shall be returned by Sublessor to Sublessee within 30 days after the termination of the Sublease. 

 

	6.	(a) Obligations of Overlease. Sublessee hereby covenants and agrees with Sublessor to fully and punctually pay and perform and be bound by any and all of the covenants, conditions, obligations and agreements
of Sublessor as tenant under the Overlease applicable to the Subleased Premises and all payment obligations applicable to the Subleased Premises and shall not do or permit to be done on the Subleased Premises any act or thing which violates the
Overlease. Sublessee shall indemnify, exonerate and hold Sublessor harmless from and against any and all loss, cost, damage and liability (including, without limitation, reasonable attorneys’ fees) incurred by Sublessor or Overlandlord by
reason of Sublessee’s failure to comply with the provisions hereof. Sublessor shall indemnify, exonerate and hold Sublessee harmless from and against any and all loss, cost, damage and liability (including, without limitation, reasonable
attorney’s fees) incurred by Sublessee by reason of Sublessor’s failure to pay Rent as required under the Overlease or Sublessor’s default under the Overlease. 

Sublessor agrees to neither do anything nor omit to do anything which would constitute a default under the Overlease. 

(b) This Sublease is in all respect subject and subordinate to the Overlease, to the term thereof and to the rights of Overlandlord. Without
limiting the generality of the foregoing, in the event of the termination or cancellation of the Overlease for any reason 

  
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whatsoever, this Sublease shall automatically be deemed terminated effective as of the same day of such cancellation or termination of the Overlease. In the event that Sublessee determines that
certain obligations of Overlandlord with respect to the Subleased Premises are not being met, Sublessee shall notify Sublessor in writing, and Sublessor’s sole duty with respect thereto shall be to notify Overlandlord, request compliance by
Overlandlord with such provisions, and use reasonably diligent efforts to enforce such obligations against Overlandlord to the extent permitted by the Overlease. Sublessee shall be entitled to any and all remedies with respect to the Subleased
Premises only to the extent that Sublessor is entitled to any remedies under the Overlease with respect to the Subleased Premises. 
  

	7.	Alterations/ Refurbishment Allowance. Commencing July 1,2015 and so long as Sublessee does not exercise the termination right set forth in paragraph 4 above, Sublessee shall have the right to make
Alterations to the Premises in accordance with the Overlease. Furthermore, commencing July 1,2015 and so long as Sublessee does not exercise the termination right set forth in paragraph 4 above, Sublessee shall also have the right to use a
portion of the Refurbishment Allowance (as defined in paragraph 8 of the Fifth Amendment to Lease dated June 18,2013) in an amount not to exceed $5.00 per square foot. 

 

	8.	Assignment and Subletting. Sublessee covenants and agrees that neither this Sublease nor the term and the estate hereby granted, nor any interest herein or therein, will be assigned, mortgaged, pledged,
encumbered or otherwise transferred voluntarily, by operation of law or otherwise and that neither the Subleased Premises nor any part thereof will be sublet or encumbered in any manner by reason of any act or omission on the part of Sublessee
without the prior written consent of Sublessor and Overlandlord, which consent shall not be unreasonably withheld or delayed. 

  

	9.	Insurance. Sublessee shall be required to maintain the insurance required pursuant to Article XV of the Overlease, and such insurance shall name Landlord, any additional parties as required under the Overlease,
and Sublessor, their respective successors and/or assigns, as their interests may appear, as Certificate Holders and Additional Insureds. Sublessee shall deliver to Sublessor a certificate of insurance evidencing such coverages on or prior to the
execution of this Sublease and thereafter evidence of renewals of such coverage upon written request from Sublessor. 

  

	10.	Brokers. Sublessor and Sublessee each represents and warrants to the other that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Lease, except for REologie
and Cushman & Wakefield of Illinois, Inc. (“Brokers”), whose fees shall be paid by Sublessor. Sublessor and Sublessee hereby represent to each other that they know of no other real estate broker or agent who is entitled to a
commission or finder’s fee in connection with this Lease. Each party shall indemnify, protect, defend , and hold harmless the other party against all claims, demands, losses, liabilities, lawsuits, judgments, and costs and expenses (including
reasonable attorney fees) for any leasing commission, finder’s fee, or equivalent compensation alleged to be owing on account of the indemnifying party’s dealings with any real estate broker or agent other than Brokers. The terms of this
paragraph shall survive the expiration or earlier termination of this Lease 

  
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	11.	Notices. For purposes of Article XXVlII, Sublessor’s Notice Address is c/o Fresenius Medical Care North America, 920 Winter Street, Waltham, MA 02451, Attention: Legal Department, or such other address as
Sublessor shall have last designated by notice in writing to Sublessee, and, Sublessee’s Notice Address is Fenix Parts, Inc., One Westbrook Corporate Center, Suite 920, or to such other address as Sublessee shall have last designated by notice
in writing to Sublessor. 

  

	12.	Miscellaneous. 

 (a) Notwithstanding Section 1 hereof, for purposes of this Sublease, the
term “Landlord” under the Overlease shall mean both Landlord and Sublessor with respect to any obligations of Sublessee pertaining to either (i) indemnifications to be given by Sublessee, (ii) consents to be obtained by
Sublessee, (iii) insurance to be maintained by Sublessee, (iv) waiver of subrogation given by Sublessee, and (v) any other waivers by Sublessee. 

(b) Whenever, under the terms of the Overlease, Landlord is required or permitted to provide notice to Sublessor by a date certain or within a
specified time period, such date certain and time period shall not be binding upon Sublessor for purposes of providing such notice to Sublessee under the Sublease, but Sublessor shall provide such notice to Sublessee hereunder promptly upon
Sublessor’s receipt of such notice from Landlord under the Overlease. 
  

	13.	Time Limits. The time limits, if any, set forth in the Overlease for the performance of any act or the making of any payment are, for the purposes of this Sublease, changed so that the time of Sublessee in a
particular case hereunder to do or perform any act, including any payment of Rent, shall be three (3) days less than the time Sublessor as tenant under the Overlease has to do so in such case. 

 

	14.	Bill of Sale. Upon the full execution of this Sublease, Sublessor has the option to bargain, sell, assign, transfer and convey to Sublessee, its successors and assigns, all of the office furniture listed on
Exhibit C attached hereto for a cost of $1.00 upon expiration of lease. In the event Sublessor does not elect to so bargain, sell, assign, transfer and convey the office furniture to Sublessee, Sublessee shall not be responsible for removal
of furniture at lease expiration. Sublessor makes no representations or warranties as to the condition of said furniture. Said office furniture is sold and conveyed to, and purchased and accepted by the Sublessee in its present condition,
“AS IS,” “WHERE IS” and with all faults. Any office furniture not listed on Exhibit C shall be handled per the terms of the Overlease. 

  
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 IN WITNESS WHEREOF, Sublessor and Sublessee have duly executed this Sublease as of the date and year first
hereinabove written. 
  

					
	SUBLESSOR:				SUBLESSEE:
			
	Bio-Medical Applications of Illinois, Inc.				Fenix Parts, Inc.
	   
				/s/ Scott Pettit
	Name:				Name: Scott Pettit
	Title:				Title:   Chief Financial Officer

  
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 EXHIBIT A 

PLAN SHOWING SUBLEASED PREMISES 

  
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 EXHIBIT B 

COPY OF OVERLEASE 

See attached. 

  
 8FY1415 Q3 JFM 10-Q Exhibit 10-1

EXHIBIT 10-1

Company's Form of Separation Agreement & Release

SEPARATION AGREEMENT AND RELEASE

To:    «Employee_Name»
Date:    «Actual_Offer_Date»

«Company» (“P&G”) is willing to provide you with certain assistance in connection with your employment separation from the Company.  The following describes the terms under which you are separating from employment.  Your receipt of the benefits described below is conditioned upon your accepting and abiding by the terms of this Agreement.
	
		
	Last Day of Employment:
	Your last day of employment will be «Exit_Date», referred to as your “Last Day of Employment.”  Unless otherwise noted below, your pay and benefits will cease as of your Last Day of Employment.

	Separation Payment:
	As soon as administratively practical after your Last Day of Employment, P&G will provide you with a Separation Payment of  «Total_Amount», less legally required withholdings and deductions.  In no event will payment be made before expiration of the seven-day revocation period discussed below or later than the March 15th of the year following the year which includes your last day of employment.

Amounts you owe to P&G as of your Last Day of Employment, including, but not limited to, wage and/or benefit overpayments and unpaid loans, will also be deducted from the Separation Payment.

	STAR Awards:

	As of your Last Day of Employment, if you worked at least 28 days (4 calendar weeks) during that fiscal year, you will receive a pro-rated STAR award for that fiscal year.  Your STAR award will be pro-rated by dividing the number of calendar days during the fiscal year from July 1 through your Last Day of Employment by 365.  Your STAR award will be paid in cash in the September (but no later than September 15th) immediately following the end of the fiscal year in which you terminate.

	Equity Awards:

	Your separation will be treated as a Special Separation for purposes of any outstanding equity awards granted under the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Compensation Plan, the Procter & Gamble 1992 Stock Plan, or the Gillette Company 2004 Long-Term Incentive Plan and as a result the awards will be retained subject to the original terms and conditions of the awards.

Awards granted under the Procter & Gamble 2014 Stock & 

	
	
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	Incentive Compensation Plan are retained subject to the terms and conditions of the Awards.

This agreement does not alter the rights and obligations that you may have under the Procter & Gamble 2014 Stock & Incentive compensation Plan, the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Plan, the Procter & Gamble 1992 Stock Plan, and the Gillette Company 2004 Long-Term Incentive Plan.

	Current Medical, Dental, and Life Insurance Benefits: 

	Your Medical (including prescription drug and EAP programs), Dental, and Basic Group Life insurance coverage will continue under the same terms until «Benefits_End_Date».

When your extended coverage ends, you may be entitled to continue your Medical and Dental insurance coverage under COBRA.  If you are entitled to COBRA continuation coverage, you will receive a notice of your right to elect COBRA.

	Retiree Medical and Dental Benefits:

	If you were eligible for P&G retiree healthcare coverage on your Last Day of Employment, you will be eligible to enroll in P&G’s retiree medical and dental insurance coverage.  You are eligible for P&G retiree healthcare coverage if you satisfy the regular retiree eligibility rules (i.e., you are a Regular Retiree) as of your Last Day of Employment.  Under the terms of this Agreement, you also are eligible for P&G retiree healthcare coverage as a Special Retiree by satisfying the Rule of 70 as of your Last Day of Employment.  You satisfy the Rule of 70 when your full years of age plus your full years of service equal 70. Special rules apply to Gillette Heritage Employees with regard to retiree medical eligibility and the retiree medical cost sharing under the retiree medical plan. If you are a Gillette Heritage Employee, you will receive a separate handout on your retiree medical eligibility.  If you are eligible for P&G’s retiree healthcare coverage as either a Regular Retiree or a Special Retiree as of your Last Day of Employment, you should contact the Employee Service Center before your extension of coverage ends to request retiree healthcare enrollment information. For details regarding the terms and conditions of your retiree health coverage, please refer to and review the summary plan descriptions, available at PGOne à Life and Career 
Important Note: If you become employed by a direct competitor of P&G (as determined by P&G’s Chief Human Resources Officer) in any capacity, you will not be eligible for coverage under P&G’s retiree healthcare coverage as long as

	 
	 

	 
	 

	1Special rules apply to Gillette Heritage Employees with regard to retiree medical eligibility and the retiree medical cost sharing under the retiree medical plan. If you are a Gillette Heritage Employee, you will receive a separate handout on your retiree medical eligibility.

	
	
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	you remain employed by such competitor. If you have questions, please contact the Benefits Service Center at 1-888-627-7472.

	Retiree Life Benefits:

	If you are eligible for retiree life coverage on your Last Day of Employment, your Basic Group Life Insurance will convert to Retiree Group Life Insurance.  For details regarding the terms and conditions of your Retiree Group Life Insurance coverage, please refer to and review the summary plan descriptions available at PGOneLife and Career.

	Outplacement Services:

	P&G’s outplacement supplier, Right Management Consultants, will provide services to assist you in managing your transition to a new future, based on your interest. Services include pre-decision counseling, career transition programs, and job development opportunities. Right Management Consultants will also assist you in preparing for your job search, including résumé preparation, cover letters, other written materials and interview and networking training.
After you accept this Agreement, you may begin utilizing outplacement services on a limited basis prior to your Last Day of Employment, consistent with the needs of the business and your responsibilities to complete and/or transition your work.  Note that you must begin utilizing outplacement services within 45 days of your Last Day of Employment to be eligible for this benefit.

	No Consideration Without Executing this Agreement:

	You affirm that you understand and agree that you would not receive the separation payment and/or benefits specified in this Agreement without executing this Agreement and fulfilling the promises contained in it.  Except as provided in this Agreement or under the terms and conditions of an applicable benefit plan or policy sponsored by P&G, you shall not be due any payments or benefits from P&G in connection with the termination of your employment.

	Continued Employment Through Your Last Day of Employment:

	You agree to perform your work and responsibilities as an employee in a satisfactory manner up to and including your Last Day of Employment, including compliance with all provisions of this “Separation Agreement and Release.”  If P&G determines that you have engaged in serious misconduct during your employment, you understand and agree that P&G may terminate your employment immediately and will not provide, nor will it be obligated to provide, you will the Separation Payment, medical benefits, outplacement and other

	
	
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	benefits described above.  If you have already received any such pay or benefits, you agree to repay them to P&G upon demand.

	Nonadmission of Wrongdoing:

	You affirm that you understand and agree that neither this Agreement nor the furnishing of the consideration for this Agreement, including the Separation Payment, shall be deemed or construed at any time for any purpose as an admission by P&G of wrongdoing or evidence of any liability or unlawful conduct of any kind.

	Release of Claims - Including Age Discrimination and Employment Claims:

	In consideration of the Separation Payment and other benefits provided above to which you would not have been entitled under any existing P&G Policy, you release P&G from any and all claims you have against P&G. The term “P&G” includes «Company» and any of its present, former and future owners, parents, affiliates and subsidiaries, and its and their directors, officers, shareholders, employees, agents, servants, representatives, predecessors, successors and assigns and their employee benefit plans and programs and their administrators and fiduciaries.

This release applies to claims about which you now know or may later discover, and includes but is not limited to: (1) claims arising under the Age Discrimination in Employment Act, 29 U.S.C. § 621, et seq.; (2) claims arising out of or relating in any way to your employment with P&G or the conclusion of that employment; (3) claims arising under any federal, state and local employment discrimination laws, regulations or ordinances or other orders that relate to the employment relationship and/or employee benefits; and (4) any other federal, state or local law, rule, regulation or ordinance, public policy, contract, tort or common law.
This release does not apply to claims that may arise after the date you accept this Agreement or that may not be released under applicable law.
You are not waiving any rights you may have to: (a) your own vested accrued employee benefits under the P&G health, welfare, or retirement benefit plans as of the Last Day of Employment; (b) benefits and/or the right to seek benefits under applicable workers’ compensation and/or unemployment compensation statutes; (c) pursue claims which by law cannot be waived by signing this Agreement; (d) enforce this Agreement; and/or (e) challenge the validity of this Agreement.

	
	
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	You agree that the decision as to what would be your Last Day of Employment was made prior to your accepting and executing this Agreement, and you agree that you are releasing any claim in connection with the separation of your employment.
Nothing in this Agreement prohibits or prevents you from filing a charge with or participating, testifying, or assisting in any investigation, hearing, or other proceeding before any federal, state, or local government agency.  However, to the maximum extent permitted by law, you agree that if such an administrative claim is made, you shall not be entitled to recover any individual monetary relief or other individual remedies.
If any claim is not subject to release, to the extent permitted by law, you agree that you waive any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which P&G is a party.

	Confidential, Proprietary, Trade Secret Information & Period of Non-Competition:

	You agree that you will not use or share any confidential, proprietary or trade secret information about any aspect of P&G’s business with any non-P&G employee or business entity at any time in the future. You further agree that you will not obtain or have in your possession any confidential, proprietary or trade secret information on or after your last day of employment. Confidential, proprietary or trade secret information includes, but is not limited to, marketing and advertising plans, pricing information, upstream plans, specific areas of research and development, project work, product formulation, processing methods, assignments of individual employees, testing and evaluation procedures, cost figures, construction plans, and special techniques or methods of any kind.
You understand and agree that, unless you have prior written consent from P&G, you will not engage in any activity or provide any services for a period of three (3) years following your Last Day of Employment in connection with the manufacture, development, advertising, promotion or sale of any product which is the same as, similar to, or competitive with any products of P&G or its subsidiaries (including both existing products as well as products in development which are known to you, as a consequence of your employment with P&G):

	
	
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	1.     With respect to which your work has been directly concerned at any time during the two (2) years preceding your Last Day of Employment; or

	 
	2.     With respect to which during that period of time you, as a consequence of your job performance and duties, acquired knowledge of trade secrets or other confidential information of P&G.

	 
	For the purposes of this section, it shall be conclusively presumed that you have knowledge or information to which you were directly exposed through the actual receipt of memos or documents containing such information or through actual attendance at meetings at which such information was discussed or disclosed. The provisions of this section are not in lieu of, but are in addition to, your continuing obligation to not use or disclose P&G’s trade secrets and confidential information known to you until any particular trade secret or confidential information becomes generally known (through no fault of yours). Information regarding products in development, in test market or being marketed or promoted in a discrete geographic region, which information P&G is considering for a broader use, shall not be deemed generally known until such broader use is actually commercially implemented. Also, “generally known” means known throughout the domestic United States industry or, if you have job responsibilities outside of the United States, the appropriate foreign country or countries’ industry.
If any restriction in this section is found by any court of competent jurisdiction or arbitrator to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it will be modified and interpreted to extend only over the maximum period of time, range of activities or geographic area so that it may be enforceable. 
As a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, you are also bound by the terms of Article F - Restrictions & Covenants of those plans, which are incorporated herein by reference.  
If you are a participant in the 2014 Stock & Incentive Compensation Plan, you are also bound by the terms of Article 6 - Restrictions and Covenants of this plan which are incorporated herein by reference.

	
	
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	Non-Solicitation:

	You acknowledge, as a participant in the Procter & Gamble 2014 Stock & Incentive Compensation Plan, the Procter & Gamble 2009 Stock and Incentive Compensation Plan, the Procter & Gamble 2001 Stock and Incentive Plan, the Procter & Gamble 1992 Stock Plan, and/or the Gillette Company 2004 Long-Term Incentive Plan that you are bound to comply with the Plans’ non-solicitation obligations.  Specifically, you agree that you will not, at any time following your Employment Separation Date, attempt to directly or indirectly induce any employee of P&G or its affiliates or subsidiaries to be employed or perform services elsewhere or attempt directly or indirectly to solicit the trade or business of any current or prospective customer, supplier or partner of P&G or its affiliates or subsidiaries.

	Acknowledgements and Affirmations:

	You affirm that you have not filed, caused to be filed, or presently are a party to any claim against P&G. 
You affirm that you have been paid and/or have received all compensation, wages, bonuses, commissions, and/or benefits which are due and payable as of the date you sign this Agreement. To the extent that you are required to report hours worked, you affirm that you have reported all hours worked as of the date you sign this Agreement.  
You affirm that you have been granted any leave to which you were entitled under the Family and Medical Leave Act or related state or local leave or disability accommodation laws.
You further affirm that you have no known workplace injuries or occupational diseases that have not been reported.

	Assignment of Intellectual Property:

	You will promptly and fully disclose, transfer and assign to P&G all inventions and any other intellectual property (collectively “Intellectual Property”) made or conceived by you during your employment with P&G.  You agree to fully cooperate in executing any papers required for establishing or protecting the Intellectual Property and for establishing P&G’s ownership, even if such cooperation is necessary after your Last Day of Employment.

	Return of P&G Property:

	You agree that on or before your Last Day of Employment, you will return to P&G in good condition all of its equipment, materials and information that were in your possession, custody or control (including, but not limited to, computers, files, documents, credit cards, keys and identification badges). You further agree that you will provide your manager with all

	
	
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	passwords to P&G electronic communication and data systems before your Last Day of Employment. You further agree that on or before your Last Day of Employment, you will return or if directed to do so by your immediate manager, delete (i.e., destroy all copies of) any and all P&G confidential, proprietary or trade secret information you have maintained in your possession, custody, or control in paper, electronic and/or digital formats, including but not limited to, any such confidential, proprietary, or trade secret information (e.g., files, documents, etc.) that you may have electronically or digitally processed or stored on P&G-issued or on personally-owned or maintained digital devices and/or service accounts. Such digital devices and/or service accounts may include, but are not limited to desktop and laptop computers, notebooks, tablets, iPads, mobile phones, smartphones, personal digital assistants (PDAs), USB and flash drives, external hard drives, CDs, DVDs, and/or external file processing or storage provided by cloud service providers such as box.net, dropbox, Google docs, etc.

	Ethics Compliance:

	You agree that you provided P&G all information known to you regarding any violations of the Procter & Gamble Worldwide Business Conduct Manual and/or any other violations of P&G policy or the law.

	Agreement to Arbitrate Disputes:

	Resolving any future differences we may have in the courts can take a long time and be expensive. You and P&G therefore agree that the only remedy for all disputes that are not released by this Agreement or that arise out of your employment with or separation from P&G, or any aspect of this Agreement, will be to submit any such disputes (with the exception noted at the end of this section) to final and binding arbitration in accordance with the National Rules for Resolution of Employment Disputes of the American Arbitration Association then in effect.
You and P&G agree that the aggrieved party must send written notice of any claim to the other party by certified mail, return receipt requested. Written notice for P&G will be sent to: Secretary, One Procter & Gamble Plaza, Cincinnati, OH 45202, and to you at the most current address shown for you in P&G’s records. The arbitrator will apply Ohio law. At your written request, P&G will reimburse you for all fees and costs charged by the American Arbitration Association and its arbitrator to the extent they exceed the applicable fees and costs that would have been charged by a court of competent jurisdiction had your claim been filed court.

	
	
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	There is one exception to this section. P&G may seek injunctive relief in any court of competent jurisdiction if it has reason to believe that you have violated or are about to violate (1) the terms of the “Confidential, Proprietary, Trade Secret Information & Period of Non-Competition” section above, or (2) if you are a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, the terms of Article F - Restrictions & Covenants of those plans or (3) if you are a participant in the 2014 Stock and Incentive Compensation Plan, the terms of Article 6 - Restrictions & Covenants of those plans.

	Severability:

	If any court of competent jurisdiction or arbitrator should later find that any portion of this Agreement is invalid, that invalidity will not affect the enforceability of any other portion of this Agreement.  

	Employment References:

	You understand that P&G’s historical policy is to not provide employment references to prospective employers. However, P&G is willing to waive that policy in your case on the following basis: You authorize your manager or human resources representative to provide an employment reference upon written or verbal request. In return, you release any claim against P&G and will not bring a lawsuit in court against P&G based upon that employment reference (or lack thereof). You agree that you will refer all reference inquiries to your manager or human resources representative only. You further understand that all disputes regarding employment references or the lack thereof must be resolved through the arbitration process described above.

	No Reliance:

	This Agreement sets forth the entire agreement between you and P&G and fully supersedes any prior agreements or understanding between the parties except that if you are a participant in the 2009 Stock and Incentive Compensation Plan, the 2001 Stock and Incentive Compensation Plan, or the 1992 Stock Plan, the terms of Article F - Restrictions & Covenants of those plans remain in full force and effect and are incorporated herein by reference and if you are a participant in the 2014 Stock Plan, the terms of Article 6 - Restrictions & Covenants of the plan remain in full force and are in effect and are incorporated herein by reference.  In deciding to accept this Agreement, you agree that you have not relied upon any statements or promises by P&G, its managers, agents or employees, other than those set forth in this Agreement. No other promises or agreements concerning the matters described

	
	
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	in this Agreement shall be binding unless in a subsequent document signed by these parties.

	Your Attorney:

	You acknowledge that you have been and hereby are advised to consult with legal counsel before accepting this Agreement and have either done so or have voluntarily declined to do so.

	Timing for Acceptance or Revocation:

	You have forty-five (45) calendar days in which to consider this Agreement in which you waive important rights, including those under the Age Discrimination in Employment Act of 1967. If you choose to sign this Agreement, please do so by indicating your acceptance of this Agreement with your electronic signature in P&G’s electronic system. We advise you to consult with an attorney of your choosing prior to signing this Agreement. Further, you may within seven (7) calendar days following the date you sign this Agreement, cancel and terminate it by giving written notice of your intention to revoke the Agreement to your immediate manager, and by returning to P&G any remuneration or benefits that have been advanced to you in anticipation of your not revoking your agreement and to which you are not entitled. If notice of your revocation is mailed, it must be postmarked within seven (7) calendar days after you sign this Agreement.
You agree that any modifications, material or otherwise, made to this Agreement, do not restart or affect in any manner the original up to forty-five (45) calendar day consideration period.

	Eligibility Information for Group Program Under The Older Workers Benefits Protection Act:

	If your separation and the offer of separation pay and benefits set forth in this Agreement is part of a program offered to a group of employees, attached to this Agreement is information regarding the class, unit, or group of individuals covered by such program, any eligibility factors, any time limits associated with the program, and a list showing, on the one hand, the ages and job titles of P&G employees in the job classifications or organizational units who were eligible or selected to participate in the program, and also showing, on the other hand, the ages and job titles of those employees in the same job classifications or organizational units who were not eligible or selected for the program. You further acknowledge that you received the information described in this section.  

	
	
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	The benefits described in this Agreement and pursuant to the summary plan description for the Procter & Gamble Basic Separation Program for U.S. Employees, are the special benefits you will receive by signing this Agreement.  To the extent this Agreement describes benefits under other benefit plans and policies sponsored by P&G, these special benefits are also described in the summary plan descriptions for those plans.  As such, nothing in this Agreement amends or changes the terms of any P&G-sponsored employee benefit plan or policy. 

	 

	After your Last Day of Employment, you will no longer be an active P&G employee, which may affect your coverage under those plans and policies.  For example, plans may require that you enroll in Medicare to be eligible for coverage.  For more information on how not being an active P&G employee may affect your coverage, please refer to and review the summary plan descriptions for each plan, available at PGOne à Life and Career.

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