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May 22, 2020

Banc of California, National Association 
3 MacArthur Place
Santa Ana, CA 92707

        Re:  Amendment and Termination of LAFC-Banc of California Agreements
Ladies and Gentlemen:
        Reference is hereby made to that certain (i) Naming Rights Agreement dated as of February 28, 2017 by and among Banc of California, National Association (“BOC”), LAFC Sports, LLC (“LAFC TeamCo”), LAFC StadiumCo, LLC (“LAFC StadCo”) (LAFC TeamCo and LAFC StadCo may individually or collectively be referred to herein as “LAFC”) and LAFC Partners, LLLP (“LAFC Parent”) (the “Naming Rights Agreement”); (ii) Sponsor Agreement dated as of February 28, 2017 by and between LAFC TeamCo, BOC, LAFC Parent, LAFC StadCo, LAFC Sports Foundation, and LAFC AncillaryCo, LLC (the “Sponsor Agreement”); (iii) Community Engagement Agreement dated as of February 28, 2017 by and between BOC and LAFC TeamCo (the “Community Engagement Agreement”); (iv) Los Angeles Football Club Stadium Suite Lease Agreement dated as of April 27, 2018 by and between LAFC TeamCo and BOC (the “Existing Suite Agreement”); and (v) Sublease Agreement dated as of December 2018 by and between BOC and LAFC StadCo (“ATM Sublease Agreement”), with respect and relating to the naming rights, sponsorship and other agreements among such parties (each such agreement, together with any and all other agreements among any of such LAFC and BOC parties, are referred to herein collectively as the “Agreements”, provided that neither this letter agreement (this “Letter Agreement”) nor the Suite License Agreement (as defined below) is or shall be deemed an “Agreement” for purposes of this Letter Agreement).  Capitalized terms used herein without definition have the meanings set forth in the Naming Rights Agreement.  As used herein, the term “party” shall mean, as the context requires, (a) an entity listed on the signature page hereof or (b) BOC, on the one hand, and all of the entities listed on the signature page hereof other than BOC, on the other hand.
        For good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereby agree as follows: 
1.Amendment of the Naming Rights Agreement.  
a.Section 10.B of the Naming Rights Agreement is hereby amended as follows: 
“Additional Termination Rights of Sponsor. Sponsor may terminate this Agreement upon: (a) the Team’s failure to operate as an active MLS franchise pursuant to League Rules; (b) any Force Majeure event that results in closure of all or any material portion of the Facility to the public for a period equal to or greater than six (6) consecutive calendar months; (c) any permanent relocation of the Team to any venue other than the Facility, other than ordinary course travel for Games that are not Home Games, and other than as expressly permitted by 
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the Non-Relocation Agreement; (dc) any Team Change of Control in which the successor-in-interest of LAFC in and to the Team does not agree to honor all of the LAFC Parties’ obligations under this Agreement; and (ed) proper termination of the Lease.” 
b.Except as expressly set forth in this Letter Agreement, and subject to Paragraph 3 below (Termination of the Agreements), all of the provisions of each of the Agreements are and shall otherwise remain unmodified and in full force and effect (including without limitation any financial literacy program and/or community events that are to be effected under the Community Engagement Agreement) until their expiration or termination.  Notwithstanding the foregoing and notwithstanding anything to the contrary in the Agreements, BOC shall not be required to make any payments under any of the Agreements or to satisfy any of its obligations under any of the Agreements (i) from and after the date hereof until the date as of which the first LAFC MLS regular season home match is played at the Stadium after the date hereof with not fewer than 5,500 attendees having tickets granting access to the Stadium for such match in attendance at the Stadium for such match (the “Recommencement Date”), provided that in no event shall such obligations survive the Termination (as defined below), except as set forth in Paragraph 3(c) of this Letter Agreement, or (ii) during any Subsequent Shutdown Period (as defined below).  Except as set forth in the following sentence, BOC shall not be deemed in breach or default under any of the Agreements for any failure to perform any of its obligations under any of the Agreements after the execution hereof.  As of (or as promptly as reasonably practicable following) the later of the Recommencement Date and the date which is five business days after BOC’s receipt of written notice as to the date of the Recommencement Date (and provided such date takes place prior to the Termination, as defined below), BOC’s obligations under the Agreements shall recommence in accordance with the terms thereof until the effectiveness of the Termination (subject to such adjustments thereto as are appropriate under the circumstances, as agreed to by the parties in good faith), with any of BOC’s payment obligations and/or BOC’s obligations to incur expenses under the Agreements being deemed pro-rated on a 1/366 per day basis for the period commencing on the Recommencement Date and concluding as of the effectiveness of the Termination and being deemed satisfied if paid or incurred on or prior to December 31, 2020, provided that, in the event of a Subsequent Shutdown Period, (x) BOC’s obligations under the Agreements shall not apply during any Subsequent Shutdown Period  and (y) no days during any Subsequent Shutdown Period shall be counted in the numerator for purposes of calculating BOC’s pro-rated payment obligations and obligations to incur expenses as described in this sentence.  
For purposes of this Letter Agreement, “Subsequent Shutdown Period” shall mean any period after the Recommencement Date during which the MLS has suspended or cancelled the MLS season or MLS matches are no longer permitted (by the MLS, SUM, governmental authorities or otherwise) to be played at the Stadium with at least 5,500 attendees having tickets granting access to the Stadium for such match in attendance at the Stadium for such match.

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By way of example and not limitation, in the event that the period commencing on the Recommencement Date (assuming the Recommencement Date takes place prior to the effectiveness of the Termination) and concluding on the date of the effectiveness of the Termination were to consist of 100 days and there was a Subsequent Shutdown Period of 20 days during such period, the amount payable by BOC pursuant to Exhibit 13 of the Naming Rights Agreement with respect to such period (other than the Subsequent Shutdown Period, with respect to which no amount would be payable pursuant to the Agreements) would equal $1,205,050.93 (which, for the avoidance of doubt, would be in addition to, and in no way reduced by, the approximately $2,750,000 fee already paid to LAFC for 2020).  
2.Consideration.  
a.Within five (5) business days following the date hereof, BOC shall pay $20,100,000 (“Buyout Fee”) in one single lump sum to LAFC by wire transfer of immediately available funds into an account designated by LAFC on or prior to the date hereof.  In the event that any portion of the Buyout Fee is not paid when due, BOC shall pay LAFC interest on the unpaid portion of the Buyout Fee at a rate equal to the “prime rate” published in the Wall Street Journal from time to time, from (and including) the date such amount was due to (but excluding) the date such amount is paid.
b.Notwithstanding anything to the contrary in any of the Agreements, and except as otherwise set forth in this Letter Agreement, any and all monies received by LAFC to-date under the Agreements are hereby deemed to be non-refundable and are not subject to be returned by LAFC for any reason whatsoever.
3.Termination of the Agreements.
a.Unless otherwise terminated earlier, and notwithstanding anything to the contrary in any of the Agreements, all of the Agreements shall each automatically (without any further action required of any party) terminate, and are hereby terminated, effective as of 11:59pm Pacific time on December 31, 2020.
b.Notwithstanding anything to the contrary in any of the Agreements, the Agreements then in effect may be terminated prior to 11:59pm Pacific time on December 31, 2020 by LAFC following written notice to BOC (“Notice of Termination”) at any time after it reaches agreement for (i) a naming rights arrangement or (ii) a sponsorship arrangement with any person or entity in or for the financial services category (any such agreement which BOC hereby expressly agrees may be reached by or on behalf of LAFC without the need for any approvals or waivers that might otherwise have been required under one or more of the Agreements), effective on the receipt by BOC from LAFC of the payment contemplated by Paragraph 3(d) hereof (or, if later, 10 days after delivery of the Notice of Termination), provided that (i) such termination shall not be effective until at least 10 days after delivery of Notice of Termination (with LAFC and BOC to work together diligently and in good faith during such 10 day period to 
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resolve any disagreement pertaining to any monies that may or may not then be owed by one party to the other) and (ii) no rights granted pursuant to any such agreement shall be effective prior to the effectiveness of the termination of the Agreements if the grant of such rights would be in violation of the terms of the Agreements (or any of them).
c.Upon the effectiveness of termination of the Agreements  (it being agreed that all of the Agreements shall be deemed, and hereby are, terminated effective as of the effectiveness of the termination of the Naming Rights Agreement), whether pursuant to this Letter Agreement or prior thereto in accordance with the terms of the Agreements (the “Termination”), and notwithstanding anything to the contrary in any of the Agreements, the Agreements will have no further force or effect, and no party shall have any further rights or obligations thereunder, except that (i) except to the extent expressly amended by this Letter Agreement and subject to the terms of this Letter Agreement (including without limitation Paragraphs 6 and 7 hereof), the provisions of Sections 6 (to the extent such provisions are intended to survive in connection with this Letter Agreement (e.g., because LAFC continues to display BOC intellectual property on or around the Premises)) and 9 (with respect to Demands arising before the effectiveness of the Termination) of the Naming Rights Agreement, Sections 3.A.ii., 5.B., 8 (with respect to Losses, as defined in the Sponsor Agreement, arising before the effectiveness of the Termination) and 9 of the Sponsor Agreement and Sections 6.3 (with respect to Claims, as defined in the ATM Sublease Agreement, arising before the effectiveness of the Termination), 6.4 and 13.13 of the ATM Sublease Agreement shall survive the effectiveness of Termination, (ii) LAFC shall have the right (but not the obligation) to choose to keep some or all of the BOC static signage that has been provided under the Naming Rights Agreement (including, but not limited to, any such static signage attached to or associated with the Facility or LAFC’s two (2) digital board signs located on the 110 Interstate/Freeway) in place after the Termination (with all of the intellectual property and other rights and licenses needed to do so hereby being deemed to be provided hereunder) until the earlier of the date as of which such static signage is removed or replaced by LAFC in its sole discretion and the date which is four years after the date hereof (or such later date as shall hereafter be agreed to in writing by the parties), (iii) LAFC and its affiliates shall have the right to use the Facility Marks and the Facility Logo (as defined in the Sponsor Agreement) in connection with any references to the Stadium until the removal of all static signage as contemplated in the foregoing subclause (ii), (iv) each of the parties and their respective affiliates shall have the right to use the Facility Marks and the Facility Logo (as defined in the Sponsor Agreement) (A) indefinitely from and after the date of the effectiveness of Termination for informational, archival, historical reference and other non-trademark purposes and (B) without limiting other use rights set forth in this Letter Agreement, for customary transitional purposes for a period not to exceed thirty (30) days from and after the effectiveness of Termination (or such other period as the parties may hereafter mutually agree in writing), (v) each of the parties and their respective affiliates shall be free to dispose of (but not sell) then-existing inventory of products containing any Facility Mark or Facility Logo (as defined in the Sponsor Agreement)  until the earlier of (x) all of such inventory has been depleted or (y) three (3) months  after the date of the effectiveness of Termination and (vi) BOC 
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and/or its affiliates shall not use the name “Banc of California Stadium” in connection with the naming of any other stadium, arena or other venue (regardless of BOC’s ownership of such name) during the ten year period immediately following the effectiveness of Termination.  For the avoidance of doubt, except as otherwise set forth in this Letter Agreement, (A) no party nor any of its affiliates shall have the right pursuant to any of the Agreements or this Letter Agreement to use any of the Facility Marks or the Facility Logo (as defined in the Sponsor Agreement) (excluding any parts thereof that constitute marks owned by such party which are not Facility Marks or the Facility Logo (as defined in the Sponsor Agreement)) after the date of the effectiveness of Termination, (B) neither BOC nor any of its affiliates shall have the right pursuant to any of the Agreements or this Letter Agreement to use any of the LAFC Marks, Club Marks (as defined in the Sponsor Agreement), Designations (as defined in the Sponsor Agreement) or Player / Coach Likenesses (as defined in the Sponsor Agreement) after the date of the effectiveness of Termination and (C) none of the parties hereto (other than BOC) nor any of their respective affiliates (other than BOC’s affiliates) shall have the right pursuant to any of the Agreements or this Letter Agreement to use any of the Sponsor Marks (as defined in the Naming Rights Agreement) or the Sponsor Marks (as defined in the Sponsor Agreement) after the date of the effectiveness of Termination.  The parties acknowledge and agree that (I) the name of “Banc of California” is a trademark owned by BOC (separate and apart from the Facility Marks and the Facility Logo (as defined in the Sponsor Agreement)), and nothing in this Letter Agreement (or the Agreements) shall be deemed to restrict BOC’s or its Affiliates’ right to use such mark after (or prior to) termination of the Agreements other than as set forth above with respect to the name “Banc of California Stadium” and (II) BOC shall have no obligation (A) to pay any costs or expenses associated with LAFC or any of its affiliates (or any third party providing such services for the benefit of LAFC or any of its affiliates) (w) removing, destroying and/or discarding signage reflecting any of the Facility Marks and/or the Facility Logo (as defined in the Sponsor Agreement), (x) preparing, producing, replacing, mounting and/or installing new or altered signage to reflect any change in the name of the Stadium, (y) removing, destroying and/or discarding any merchandise, equipment or collateral materials related to the Facility branding, promotion and publicity displaying any of the Facility Marks and/or the Facility Logo (as defined in the Sponsor Agreement) and/or (z) preparing, producing, replacing and/or distributing merchandise, equipment or other collateral materials related to the Facility branding, promotion and publicity reflecting any change in the name of the Stadium or (B) effective as of the effectiveness of the Termination, and except as specifically contemplated by this Letter Agreement, under any of the Agreements.
d.In the event that the Agreements are terminated effective prior to 11:59pm Pacific time on December 31, 2020, LAFC shall promptly (and in any event within five (5) business days) following the effectiveness of termination of the Agreements, refund to BOC, in accordance with payment instructions to be provided by BOC to LAFC, an amount (paid by BOC to LAFC on or after the Recommencement Date) equal to (i) all amounts (if any) paid by BOC on or after the Recommencement Date pursuant to the Agreements (or any of them) with respect to calendar year 2020 (which, for the avoidance of doubt, does not include the Buyout Fee 
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payable pursuant to this Letter Agreement), multiplied by (ii) a fraction, the numerator of which equals the number of days in the period commencing on the date of the effectiveness of termination of the Agreements and concluding on December 31, 2020 and the denominator of which equals 366.
4.Continued Banking Services.  Without limiting its obligations under the Agreements through the effectiveness of the Termination (which, subject to the terms set forth in other Paragraphs of this Letter Agreement, shall remain in effect in accordance with their terms until the effectiveness of the Termination), LAFC hereby agrees to continue to use BOC for the following banking services (specifically excluding, without limitation, payment processing and financing services which LAFC may, but shall not be obligated to, use BOC in its sole discretion) for which it currently uses BOC (in each case, on the same terms and conditions (e.g., service level, quality, etc.) that apply today), unless and until the earlier of (i) LAFC entering into a sponsorship or similar agreement with another financial services provider in good faith that requires (or which makes it beneficial to) LAFC to transfer such financial services/relationships to such other provider who provides such services, (ii) a refinancing by LAFC of its credit facility pursuant to which it is required or beneficial to LAFC to transfer any such financial services/relationships to another provider or (iii) December 31, 2023: 
a.Accounts payable services;  
b.Primary commercial banking services, including in respect of cash management requirements; and
c.Depository bank in respect of deposit accounts maintained by LAFC. 
5.Use of Founders 9 Suite.  From and after the effectiveness of Termination, BOC shall have access to the “Founders 9” suite (“Founders Suite”) at the Stadium pursuant to the terms of a Stadium Suite Lease Agreement between LAFC TeamCo and BOC dated and executed as of the date hereof and effective as of the effectiveness of the Termination (the “Suite License Agreement”).  Additionally, BOC will have the opportunity to serve as “associate partner” for one (1) mutually agreed upon LAFC Sports Foundation event (“Foundation Asset”) each year throughout the term of the Suite License Agreement; provided, that LAFC may terminate BOC’s right to receive the Foundation Asset at any time after it reaches agreement in good faith for a sponsorship arrangement with any person or entity in or for the financial services category.
6.Releases.

a.Mutual Releases.  Each party hereby generally and unconditionally releases the other party and the other party’s affiliates and the present and former officers, managers, directors, employees, members, shareholders, agents, representatives, insurers, predecessors, successors, assigns, administrators, executors and heirs of the other party and the other party’s affiliates (the “Related Parties”, provided that neither MLS nor SUM is or shall be deemed a 
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“Related Party” for purposes of this Letter Agreement) of and from any and all claims, demands, rights, actions, causes of action, suits, liabilities, contracts, covenants, obligations, damages, losses, expenses (including, without limitation, attorneys' fees, except as expressly set forth within this Letter Agreement), penalties, costs and allegations of any kind, nature, and character whatsoever, whether legal, contractual, statutory, administrative or equitable in nature or otherwise, whether known or unknown, suspected or unsuspected, foreseen or unforeseen, anticipated or unanticipated, that such party now owns, holds, has or claims to have, or owned at any time, held, had or claimed to have had or may come to own, hold, have or claim to have against the other party and the other party’s Related Parties arising out of or relating to the Agreements (or any of them) based on any acts, events or circumstances that occurred prior to the execution hereof.  Notwithstanding the foregoing, no party is releasing, acquitting, discharging, waiving, or relinquishing any claims arising out of or relating to the parties’ rights and obligations as preserved, amended, or created by this Letter Agreement or the Suite License Agreement. 
b.Unknown Claims.  Each of the parties hereby (i) represents, warrants and acknowledges that such party has had, or has had and waived, the opportunity to be advised by independent legal counsel as to the contents of Section 1542 of the California Civil Code (and any analogous law of any other state, locality or other jurisdiction) and (ii) expressly waives the benefits and protections thereof and any rights such party may have thereunder.  Section 1542 of the California Civil Code provides as follows:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS (1) THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, (2) WHICH IF KNOWN BY HIM OR HER, (3) WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.
Each of the parties understands and acknowledges the significance and consequence of its specific waiver of Section 1542 of the Civil Code of the State of California and in the event that any releases become effective pursuant to this Letter Agreement, hereby assumes full responsibility for any injuries, damages, and losses which it may incur as a result of its waiver of Section 1542 of the California Civil Code.
7.Mutual Waivers.  Except as contemplated by this Letter Agreement and/or the Suite License Agreement, each party hereby waives any right to terminate the Agreements (or any of them), exercise any remedies under the Agreements (or any of them) or bring a breach claim under the Agreements (or any of them), in each case based on any acts, events or circumstances that occurred prior to the execution hereof. 

8.Indemnification.  

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a.LAFC Indemnification.  LAFC hereby jointly and severally agrees to indemnify, defend and hold harmless BOC, BOC’s subsidiaries and affiliates, and their respective shareholders, members, directors, officers, servants, agents and employees (the “BOC Indemnitees”) from and against any and all liabilities, obligations, losses, damages, penalties, actions, suits and proceedings, including legal expenses and reasonable attorneys’ fees (the “Demand(s)”), of any kind and nature, imposed on, incurred by or asserted against the BOC Indemnitees (or any of them) arising directly or indirectly out of or in connection with any breach by any party hereto (other than BOC) of any covenant or warranty contained herein; but excluding therefrom any liability arising from the contribution thereto by the negligent or willful actions or omissions of the BOC Indemnitees (or any of them). 

b.BOC Indemnification.  BOC hereby agrees to indemnify, defend and hold harmless the parties hereto (other than BOC), MLS, and their respective subsidiaries and affiliates (including for indemnification purposes, Soccer United Marketing), and their respective shareholders, members, directors, officers, servants, agents and employees (collectively, the “LAFC Indemnitees”), from and against any and all Demands of any kind and nature, imposed on, incurred by or asserted against the LAFC Indemnitees (or any of them) arising directly or indirectly out of or in connection with any breach by BOC of any covenant or warranty contained herein; but excluding therefrom any liability arising from the contribution thereto by the negligent or willful actions or omissions of the LAFC Indemnitees (or any of them).

c.Indemnification Procedure.  Each party agrees that, once the party seeking indemnification learns of any such Demand, the indemnified party will give the indemnifying party prompt written notice of any allegation and institution of any such suit; provided, however, that the right of a person or entity to be indemnified hereunder shall not be adversely affected by a failure to give such notice unless, and then only to the extent that, an indemnifying party is actually irrevocably and materially prejudiced thereby.  The indemnified party will permit the indemnifying party, through competent counsel of its own choosing, to defend any such suit, provided that the indemnifying party will on a regular basis provide the indemnified party with full, complete information and updates relating to such suit and will not enter into any settlement or compromise related thereto without the indemnified party’s prior written consent. 

9.Representations and Warranties.  LAFC represents, warrants and agrees that LAFC has obtained all permits, consents, waivers, approvals and/or authorizations of, and has made all declarations to and/or filings or registrations with, any government or third party, including without limitation the MLS, SUM and the Lenders, which is required in connection with the execution, delivery and/or performance of this Letter Agreement and/or the Suite License Agreement.  Each of the parties respectively represents, warrants and agrees that it:
a.has the full right and authority to enter into and fully perform this Letter Agreement in accordance with its terms without any further approval, and this Letter Agreement has been 
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duly authorized, executed and delivered by such party and represents the valid and binding agreement of such party enforceable in accordance with its terms, except that such enforcement may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors’ rights generally, and (ii) general principles of equity;
b.has received independent legal advice from its attorneys (if it so desires) with respect to the advisability of making this Letter Agreement, and such party is entering into this Letter Agreement voluntarily;
c.is under no obligation or restriction, and will not enter into any agreement or arrangement containing any obligation or restriction, that would in any way interfere or conflict with its performance hereunder; 
d.is the sole and lawful owner of all right, title, and interest in and to every claim and other matter released and/or conferred by such party pursuant to this Letter Agreement, and that such party has not heretofore assigned or transferred, or purported to assign or transfer, to any person or entity, any claims or other matters herein released and/or conferred by such party; and
e.has made such investigation of the facts pertaining to this Letter Agreement and of all other matters pertaining hereto as it deems necessary.
10.Confidentiality.  Each party is hereby authorized to issue a press release in substantially the form of Exhibit A hereto (the “Approved Press Release”). Otherwise, no party may issue a press release or make a public statement regarding this Letter Agreement, the Suite License Agreement, any of the Agreements or the subject matter hereof or thereof providing any information which is not provided in the Approved Press Release without the other party’s prior written approval.  No party will disclose or communicate to anyone (other than such party’s directors, officers, employees, attorneys, advisors and/or representatives who agree to keep such information confidential in accordance with the terms of this Letter Agreement) any information regarding this Letter Agreement, the Suite License Agreement, any of the Agreements or the subject matter hereof or thereof, except as otherwise specifically permitted by this Letter Agreement or unless otherwise, on the advice of counsel, determined by such party in good faith as being required under applicable law, statute, court order and/or governmental rule or regulation (including under the Securities Act of 1933 (as amended), the Securities Exchange Act of 1934 (as amended), the regulations promulgated thereunder, and/or the rules of any applicable stock exchange), or as otherwise necessary to fulfill any obligations hereunder; provided that prior to making any disclosure so required by applicable laws, statutes, court orders and governmental rules or regulations (including the Securities Act of 1933 (as amended), the Securities Exchange Act of 1934 (as amended), the regulations promulgated thereunder, and/or the rules of any applicable stock exchange), the disclosing party shall, to the extent legally permissible, provide written notice of such legal requirement to the other party as soon as reasonably practicable and provide the other party with a reasonable opportunity to review the proposed disclosure (or the portion thereof to 
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which this Paragraph 10 relates).  Notwithstanding anything to the contrary set forth above, subject to Paragraph 11 hereof, nothing herein will prohibit LAFC from making any disclosure to the Lenders, MLS and/or SUM.
11.Non-Disparagement.  Effective as of the date hereof, no party nor any of its affiliates (nor any of their respective employees, officers, directors, managers, shareholders, members, agents, and/or representatives) will make (or encourage or expressly permit) any disparaging public, press or other external statements (including, without limitation, website postings) or releases (including “background” and/or “off-the-record” communications) about the other party, any of the other party’s affiliates or any of their respective officers, directors, managers, shareholders, members, employees, agents and/or representatives related to the performance or breach of this Letter Agreement, the Suite License Agreement or any of the Agreements.  For the avoidance of doubt, nothing in this Paragraph 11 will be deemed to apply to any statements made in any court, regulatory, arbitration or similar proceeding or to address or correct any misstatement made in any public forum, in each case which are not made with the primary intent to disparage.
12.Notices.  Any notices, documents, statements, demands, requests or other communications (each a “notice”) that any party desires or is required to give to or serve on the other party pursuant to this Letter Agreement or any of the Agreements will be in writing and will be delivered by personal or mail delivery (postage prepaid, registered mail, return receipt requested), by overnight courier, or by email to the parties at the addresses given below or to such other address as a party may hereafter designate in writing in the manner provided for herein.  Any notice delivered in accordance with the terms of this Letter Agreement which relates to this Letter Agreement or any of the Agreements will be deemed to satisfy Section 11.G. of the Naming Rights Agreement, Section 12.M. of the Sponsor Agreement, Section 9.E. of the Community Engagement Agreement, Section 19(d). of Exhibit E to the Existing Suite Agreement and Section 13.2 of the ATM Sublease Agreement.  Any such notice will be deemed given on the date of personal delivery or email (in the case of email, subject to proof of confirmation of transmission), the day after such notice is deposited with an overnight courier service, or three days after such notice is deposited with the United States Mail Service, as applicable.  All such notices will be addressed as follows (or to such other address for a party as shall be directed by such party from time to time hereafter by notice delivered in accordance with the terms of this Letter Agreement):
a.If to LAFC or any other party hereto other than BOC:
i.LAFC Sports, LLC
818 W. 7th Street #1200
Los Angeles, California 90017
Attn: General Counsel
Email: lafclegal@lafc.com 

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b.If to BOC:
i.Banc of California, National Association
3 MacArthur Place
Santa Ana, CA 92707
Attn: Ido Dotan
Email: ido.dotan@bancofcal.com

13.Further Assurances.  Each party agrees to cooperate fully and to execute any and all supplementary documents (including the Suite License Agreement) and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Letter Agreement and which are not inconsistent with its terms. 
14.Costs.  Each party shall bear its own costs, expenses and attorneys’ fees in connection with the preparation and negotiation of this Letter Agreement.
15.Governing Law.  This Letter Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to conflicts of law principles.  
16.Dispute Resolution; Arbitration.  The parties agree that any dispute, claim, question or controversy between BOC, on the one hand, and any or all of the other parties hereto, on the other hand, arising from or relating to this Letter Agreement, its construction, operation or effect, or a breach thereof (the “Dispute(s)”) that cannot be resolved through good faith consultation and negotiation of BOC and such other party or parties within 30 days of the commencement of such consultation and negotiation (or the attempt by a party to commence such consultation and negotiation) shall be finally resolved exclusively by binding arbitration administered by a single arbitrator of JAMS, or its successor, in accordance with the JAMS Comprehensive Arbitration Rules & Procedures in effect as of the date of this Letter Agreement and taking place in Los Angeles, California.  The parties further agree that the arbitrator, and not a court, will have exclusive jurisdiction to decide all questions of arbitrability, including as to questions regarding the formation, validity and enforceability of this Letter Agreement and/or this Paragraph 16.  Any judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction.  Except as required by law, neither any party nor the arbitrator may disclose the existence, content, results or award of any arbitration without the prior written consent of all parties.  The arbitrator will have no authority to award punitive or other damages not measured by the prevailing party’s actual damages.  Each party shall bear its own costs and expenses, including attorneys’ fees, and an equal share of the arbitrators’ and administrative fees of arbitration.  The parties expressly waive the right to resolve any Dispute through any other means, including by a jury trial.  This dispute resolution provision cannot be modified except in a written agreement signed by all parties hereto with specific reference to this arbitration provision and the intent to modify or amend it.  THE PARTIES EACH UNDERSTAND AND AGREE THAT THE PARTIES ARE ELECTING TO RESOLVE ANY DISPUTE UNDER THIS LETTER AGREEMENT THROUGH ARBITRATION AND ARE WAIVING THEIR RIGHT TO A JURY TRIAL. 
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17.Neutral Construction.  Each party hereby acknowledges and agrees that it has read, understood and approved this Letter Agreement and has been fully and competently represented by (and has consulted with) independent legal counsel of its own choosing in the negotiation and drafting of this Letter Agreement.  Accordingly, each party hereby acknowledges and agrees that any rule of construction of contracts resolving any ambiguities against the drafting party shall be inapplicable to this Letter Agreement.  Each party further acknowledges and agrees that it has entered into this Letter Agreement with the intent to be legally bound to the terms hereof.
18.Successors and Assigns.  This Letter Agreement will bind and inure to the benefit of the parties hereto and their respective successors, permitted assigns, heirs, administrators, executors, personal representatives and conservators.  No party may assign this Letter Agreement or any of its obligations under this Letter Agreement to any other person or entity without the prior written consent of the other party hereto.  Notwithstanding the foregoing, (a) BOC may assign this Letter Agreement in its entirety to its parent company, Banc of California, Inc., a Maryland corporation, without the prior written consent of any party hereto (other than BOC) and (b) LAFC may (i) assign its rights and obligations under this Letter Agreement to MLS, SUM or any entity controlling, controlled by or under common control with LAFC, (ii) assign its right to receive payments hereunder, in whole or in part, to any person or entity and (iii) pledge or assign any of its rights under this Letter Agreement to lenders or financiers as security or as required by financing arrangements entered into by LAFC or its affiliates, in each case so long as LAFC is not relieved of any obligations hereunder in connection therewith and without the prior written consent of BOC.
19.Severability.  If any part of this Letter Agreement is void or otherwise invalid, such invalid or void portion will be deemed to be separate and severable from the balance of this Letter Agreement, and this Letter Agreement will be given full force and effect as though the void or invalid provisions had never been a part of this Letter Agreement.  
20.Amendment.  This Letter Agreement may not be amended, modified or terminated, in whole or in part, except by an instrument in writing duly executed by all parties.
21.Counterparts.  This Letter Agreement may be executed in any number of counterparts.  Each counterpart shall constitute an original, but all of the counterparts together shall constitute one and the same instrument.  Any signature page delivered electronically shall be binding to the same extent as an original signature page.
22.No Third Party Beneficiaries.  Except as set forth in Paragraphs 6 and 8 hereof, this Agreement is for the sole benefit of the parties and their permitted assigns, and nothing herein expressed or implied shall give or be construed to give any person or entity, other than the parties and such permitted assigns, any legal or equitable rights hereunder.
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23.Entire Agreement.  The Agreements, as further amended by this Letter Agreement, constitute the entire understanding of the parties with respect to the subject matter hereof and thereof, and any other prior or contemporaneous agreements, whether written or oral, with respect thereto are expressly superseded hereby and thereby.
[Signature Page to Follow]

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        If the foregoing correctly reflects our agreement, please so indicate by signing in the space provided below.       

              Yours sincerely,
              
              LAFC Sports, LLC  

              By: /s/ Tom Penn   
              Its:  President   

              LAFC StadiumCo, LLC

              By: /s/ Tom Penn   
              Its:  President   

LAFC Partners, LLLP

              By: /s/ Tom Penn   
              Its:  President   

              LAFC Sports Foundation

              By: /s/ Tom Penn   
              Its:  Board Officer   

              LAFC AncillaryCo, LLC

              By: /s/ Tom Penn   
              Its:  President   

ACCEPTED AND AGREED:
Banc of California, National Association 

By: /s/ Lynn M. Hopkins 
Its: CFO   

14Document

Exhibit 10.1

SEPARATION, WAIVER AND GENERAL RELEASE AGREEMENT
This Separation, Waiver and General Release Agreement (referred to herein as “Agreement” or “Release”) is entered into by and between Teresa South (referred to herein as “You” or “Releasor”) and HMS Holdings Corp.  For purposes of this Agreement, the term “Company” shall refer to HMS Holdings Corp. and its corporate affiliates and their respective direct and indirect subsidiaries and successors and assigns.  The Company, together with its past and present parents, subsidiaries, affiliates, shareholders, owners, partners, members, officers, directors, representatives, employees, agents, counsel, successors and assigns, benefit plans, benefit plan trustees and administrators are referred to collectively herein as the “Releasees.”  You and the Releasees shall be referred to collectively herein as the “Parties” and individually as a “Party.”
WHEREAS, the Parties previously entered into that certain Amended and Restated Executive Employment Agreement, effective March 29, 2018 (the “Employment Agreement”), pursuant to which the Company has employed you as its Executive Vice President, Chief Administrative Officer;
WHEREAS, the Company previously granted you certain nonqualified stock options and restricted stock units, some of which are unvested and unexercised as of the date hereof (the “Equity Awards”);
WHEREAS, your employment with the Company will end as of  June 30, 2020 (the “Separation Date”); and
WHEREAS, in accordance with Section 6(b) of the Employment Agreement, the Company desires to offer you this Agreement in exchange for certain agreements, warranties, representations and releases on your part contained in this Agreement;
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
1.Nature of Agreement and Non-Admission of Liability
This is an agreement of settlement and compromise, and by entering into this Agreement none of the Parties agree or concede in any manner whatsoever that they violated any law or statute of any jurisdiction, breached any duty, responsibility or contract, or acted improperly in any manner. It is understood and agreed that nothing in this Agreement shall be interpreted or construed as the admission of any wrongdoing by any or all the Releasees or by any person or entity acting for or on behalf of any or all of the Releasees.
2. End of Releasor’s Employment
You agree that, effective as of April 6, 2020, you will resign from your position as Executive Vice President, Chief Administrative Officer of the Company and from all other employee, officer, director, manager, and other positions and associations of any kind with the 

Company; provided, however, that your employment with the Company shall not terminate until the Separation Date.  You agree to execute all documents and to take such further steps as may be required to effectuate such resignation(s).  You agree that during the period commencing on the Effective Date (as defined in paragraph 15 below) and ending on the Separation Date, you shall assist with the transition of your current duties and responsibilities, to the extent requested by the Company’s Chief Executive Officer (the “CEO”).  The Company shall continue to employ you until the Separation Date, and your salary and all benefits will remain unchanged and your Equity Awards shall continue to vest in accordance with their terms until such date; provided, however, that you shall no longer have any leadership or decision-making authority or take any actions, execute any documents, or make any representations on behalf of the Company.  Provided that you continue to provide services to the Company through the Separation Date, the Company acknowledges and agrees that your termination of employment will be as a result of your “Retirement” (as such term is defined in the Equity Awards), and that your Equity Awards shall remain eligible for continued vesting in accordance with the terms of the underlying award agreements for such Equity Awards. You agree that your services shall be available to the Company as needed through the Separation Date and will be subject to the same policies, standards of conduct and performance applicable to all officers and managers of the Company.  From the date hereof and until the Separation Date, you shall serve as a senior advisor to the Company, and you agree to (i) cooperate fully and provide assistance, at the request of the CEO and upon reasonable notice, in the orderly transitioning of your duties and responsibilities to such other persons as the Company shall designate and (ii) thoroughly and diligently perform those duties and actions which are necessary or appropriate to cause such orderly transition.  You acknowledge and agree that you shall receive no additional compensation for time spent assisting the Company pursuant to this paragraph 2 other than the compensation and benefits provided for in this Agreement.  You agree that this Agreement fully supersedes any and all prior agreements relating to your employment with the Company, including, without limitation, the Employment Agreement (other than the Surviving Provisions and the Restrictive Covenant Agreement (each as defined below)).
3. No Further Monies are Due to You; Non-Waiver of Certain Rights
Other than the monies to be paid pursuant to paragraph 4 and the Equity Awards, there are no other monies that you claim are owed to you which relate in any way to your employment with the Company.  This includes, but is not limited to, salaries, bonuses, commissions, wages, reimbursable business expenses or contributions to employee benefit plans, vacation or severance pay.  Nothing herein shall be construed or interpreted in any way to: (a) limit or deny your right to receive any vested employee benefit under a plan of the Company for which you were or are a participant; (b) alter your right to elect continued coverage of benefits pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or any state equivalent law; or (c) limit your ability to seek and/or collect unemployment insurance benefits (assuming you otherwise qualify for such benefits).
4. Consideration
A. Prior to the Separation Date, you shall continue to receive your base salary, less all applicable payroll taxes and withholdings, in accordance with the Company’s normal payroll practices, and other benefits as in effect immediately prior to the Effective Date.  
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B. Provided that you comply with this Agreement, the Restrictive Covenant Agreement and the Surviving Provisions, do not revoke your signature on this Agreement (as discussed in paragraph 16), and execute the attached Exhibit B on (but not before) the Separation Date, or within seven (7) days following the Separation Date, and do not revoke it, the Company shall (on behalf of the Releasees) provide you with the following consideration after your termination of employment: 
(i)The Company will pay you an amount equal to twelve (12) times your monthly base salary (the “Separation Payment”), provided you have not secured another position with the Company.  The Separation Payment shall be paid to you in bi-weekly payments, beginning on the first full payroll period after the expiration of the revocation period set forth in paragraph 16 of this Agreement.  Payments of the Separation Payment will be made on the Company’s normal payroll cycle in accordance with the Company’s regular payroll practices, and are subject to all statutory deductions required by federal, state and/or local law.  Payments will be reported on a tax Form W-2.
(ii)The Company will pay you a lump-sum amount equal to the difference between the COBRA coverage premium for the same type of medical, dental and vision coverage (single, family or other) in which you are enrolled as of the Separation Date and your employee contribution, which represents the amount the Company would allocate for such coverage had your coverage remained active for twelve (12) months.  This payment will be made within sixty (60) days of the termination of your employment and will be taxable and subject to withholding for all required federal, state and/or local income and employment taxes.  You will be responsible for ensuring the timely payment of your COBRA coverage premiums.  
The Company shall have no obligation to pay the amounts or to provide the benefits described in this paragraph 4(B) unless you execute and do not revoke this Agreement and Exhibit B.  The amounts payable pursuant to this paragraph 4(B) shall not be treated as compensation under the Company’s 401(k) or other retirement plan.  You acknowledge and agree that you are not otherwise entitled to the amounts and benefits set forth in this paragraph 4(B).
C. Even if you choose not to sign this Agreement, or if you sign this Agreement and then revoke your signature (as explained below), you will still be paid your regular salary through the Separation Date, your accrued but unused paid time off, if any, for the calendar year in which the Separation Date occurs and any unreimbursed business expenses, in each case, in accordance with the applicable Company policies and as may be required by law.  
5. Return of Company Property
On or before the Separation Date, you shall return to the Company all Company property in your possession, custody or control, including all keys, files, records, equipment (including computer hardware, software, printers, wireless handheld devices, cellular phones, etc.), and Company Confidential Information (as defined in paragraph 11(B)) and have left intact with, or delivered intact to, the Company all electronic Company documents, including those that you developed or helped to develop during your employment, none of which you will retain in any 
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form or medium. Should you later discover additional items described or referenced in this paragraph 5, you will promptly notify the Company and return/deliver such items to the Company.
6. Release
In exchange for the consideration provided by the Company under the terms of this Agreement in paragraph 4(B), you irrevocably and unconditionally release and discharge the Releasees jointly and severally, from any and all debts, claims, liabilities, demands and causes of action of every kind, nature and description, in law, or in equity, which against the Releasees, you, your heirs, executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may have for, upon or by reason of any matter, cause or thing whatsoever, from the beginning of time until the date you sign this Agreement.  You represent that you have not assigned or otherwise transferred any interest in any claim (or any portion thereof) that is the subject of this Agreement.
This Release covers, without limitation, any claims of harassment and/or discrimination on the basis of sex, sexual orientation, gender identification, pregnancy, disability (including claims concerning a history or record of a disability, predisposing genetic condition, and claims that you were regarded as having a disability), handicap, genetic information, race, color, religion, creed, national origin, ancestry, age, citizenship, ethnic characteristics, marital status or military/veteran status and also includes, no matter how denominated or described, any claims under any federal, state or local law, statute, rule, regulation, ordinance or executive order of discrimination and/or retaliation and non-payment of wages, bonuses, commissions or other compensation, including, without limitation, the Age Discrimination in Employment Act of 1967 (“ADEA”), Older Workers Benefit Protection Act, Employee Retirement Income Security Act of 1974, Title VII of the Civil Rights Act of 1964, Civil Rights Act of 1866 and/or 1871, 42 U.S.C. § 1981, The Civil Rights Act of 1991, Rehabilitation Act of 1973, Executive Order 11246, Executive Order 11141, Genetic Information Nondiscrimination Act of 2008, Americans with Disabilities Act of 1990 (“ADA”), ADA Amendments Act, Family and Medical Leave Act, Occupational Safety and Health Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act, the Equal Pay Act of 1963, the Lilly Ledbetter Fair Pay Act of 2009, Fair Labor Standards Act, Worker Adjustment and Retraining Notification Act, Fair Credit Reporting Act, the National Labor Relations Act, the Labor Management Relations Act, the Immigration Reform and Control Act, Texas Labor Code Annotated § 21.001 et seq. (Texas civil rights law), Texas Labor Code Annotated § 21.055 et seq. (Texas whistleblower protection law), Texas Commission on Human Rights Act, Texas Law on Communicable Diseases, Texas Breast-Feeding Rights and Policies Law,, and all other federal, state and local laws, including without any limitation, any claims of wrongful or tortious discharge or termination, breach of contract, breach of the implied covenant of good faith and fair dealing, written or oral, express or implied, breach of promise, public policy, negligence, intentional infliction of emotional distress, negligent infliction of emotional distress, assault, battery, false imprisonment, defamation, libel, slander, invasion of privacy, impairment of economic opportunity, loss of business opportunity, fraud, misrepresentation, and whistleblower activities, and any claim or damage arising out of your employment with and/or separation from the Company (including a claim for retaliation) under any common law theory or any federal, 
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state or local law, statute, rule, regulation, ordinance or executive order not expressly referenced above. This Release does not affect your right to benefits under the terms of any employee benefit plan in which you participated while employed by the Company, continuation coverage benefits under COBRA, your right to enforce the terms of this Agreement, any claim for indemnification to which you are entitled under the Company’s directors and officers liability insurance or under the Certificate of Incorporation or By-Laws of the Company or your rights under the Equity Awards.
This Release does not apply to any claims or rights that may arise after the date you sign this Release.  Excluded from this Release are any claims which cannot be waived by law, including but not limited to, the right to participate in an investigation conducted by certain government agencies.  You do, however, waive your right to any monetary recovery from the Company or the Releasees should any agency (e.g., the Equal Employment Opportunity Commission) pursue any claims on your behalf, unless otherwise prohibited by law, and provided that you have not waived any right to, and shall not be precluded from seeking, any government issued award including any whistleblower award pursuant to Section 21F of the Securities Exchange Act of 1934, as amended, or similar provision.  You represent and warrant that you have not filed any complaint, charge, or lawsuit against the Company with any government agency or any court.  
You agree never to sue the Company or the Releasees in any forum for any claim covered by the above waiver and release language, except that you may bring a claim against the Company under the ADEA to challenge this Release.  If you violate this Release by suing the Company or the Releasees, other than under the ADEA or as otherwise set forth above, you shall be liable to the Company and/or the Releasees for their reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit.  Nothing in this Release is intended to reflect any Party’s belief that your waiver of claims under ADEA is invalid or unenforceable, it being the interest of the Company and you that such claims are waived.
The Parties intend this Release to be construed and interpreted to the fullest extent permitted by law as a general release.  The terms of this Agreement are accepted by you as full and complete resolution, accord and satisfaction of any and all claims, demands or grievances you have made against, and/or could have made against any of the Releasees.
7. Acknowledgements
You acknowledge that you have no knowledge of any violations by the Company of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), the Fair Debt Collection Practices Act, the civil or criminal provisions of the federal False Claims Act, the Civil Monetary Penalties Statute, Titles XVIII and XIX of the Social Security Act (the Medicare and Medicaid statutes), the Health Care Benefit Program False Statements Statute, the Health Care Fraud Statute, any and all of the statutory provisions referenced in the Federal Health Care Offense Definitions Statute, or any other federal or state laws relating to negligence, fraud and abuse in health care (collectively, the “Health Care Laws”), or the Sarbanes Oxley Act.  You have received instruction from the Company on how to report claims or violations under the Health Care Laws and the Sarbanes Oxley Act, and as of the date of executing this Agreement, have no claims to report under the Health Care Laws or the Sarbanes Oxley Act.  You further 
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certify that you have not reported to any government authority or other entity any such healthcare or securities compliance concerns, issues, and/or violations or potential violations, which remain unanswered or unresolved.  Furthermore, in connection with the foregoing acknowledgements, you have signed the Corporate Compliance Statement - Return of Company Property & Information document, attached to this agreement as Exhibit A, and hereby affirm the representations therein.
8. Non-Waiver or Release of Subsequent Rights or Claims
Nothing contained herein is intended to or shall constitute a waiver or release of any rights or claims that arise after the date you sign this Agreement.  
9. Non-Waiver of Rights Under this Agreement
Nothing herein is intended to or constitutes a waiver of any rights the Parties may have under this Agreement.
10. Representations and Warranties
As a material part of this Agreement, you make the following representations and warranties:
A. You have not commenced or asserted an administrative charge or complaint, and you have not commenced or asserted, and shall not commence or assert, any lawsuit, arbitration, claim or legal proceeding, against any or all of the Releasees that is designed to remedy or seek redress for any right or rights waived and/or released by this Agreement.
B. You agree to keep confidential all information relating to this Agreement, including its negotiation, terms and existence.  You may communicate or publish any information relating to this Agreement to your immediate family (defined herein as parents, siblings, parents-in-law, spouse, domestic partner or children), legal and financial representatives, and tax preparer.  Before such information is disclosed by you to any such person(s), however, you shall advise such person(s) that the information they will receive is to be kept confidential, and such person(s) must agree to maintain the confidentiality of the information they receive.  
C. You are not aware of any facts or circumstances suggesting that the Company has engaged in any wrongful or unlawful conduct.
11. Restrictive Covenants. 
A. Non-Disparagement  
You will not make or cause to be made or published any statement, written or oral, directly or indirectly, which is intended to or has the effect of having any negative impact on the Company, its business or reputation in the marketplace or otherwise, subject to your rights in paragraphs 11(D) and 11(E).  
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B. Surviving Provisions; Confidentiality 
You acknowledge and agree to honor and abide by your obligations under Section 8 (Restrictive Covenants), Section 9 (Cooperation), and Section 10 (Miscellaneous) of the Employment Agreement and the restrictive covenants in Appendix A of your Equity Awards (such sections of the Employment Agreement and Equity Awards collectively are referred to herein as, the “Surviving Provisions”, and shall survive the termination of your employment with the Company and the Employment Agreement and the Equity Awards and shall remain in full force and effect).  You further acknowledge that as a condition of your employment with the Company, you previously entered into a Noncompetition, Nonsolicitation, Proprietary and Confidential Information and Developments Agreement (the “Restrictive Covenant Agreement”), a copy of which is being provided to you with this Agreement, and the provisions of which are incorporated herein by reference.  You agree that the terms of the Restrictive Covenant Agreement and the Surviving Provisions shall continue by their own terms in full force and effect.  You agree that the terms of the Restrictive Covenant Agreement and the Surviving Provisions are reasonable and that the consideration set forth in this Agreement shall also be considered additional consideration for your ratification of the Restrictive Covenant Agreement and the Surviving Provisions.  In addition, you acknowledge your duty to keep confidential Protected Health Information within the meaning of federal HIPAA regulations, including, but not limited to, any patient-specific information derived from medical or financial records or from electronic data files used in Company’s business operations.  Under the terms of this Agreement, the restrictive covenants and confidentiality obligations to the Company survive the execution of this Agreement.  You acknowledge that your adherence to the terms of the Restrictive Covenant Agreement, the Surviving Provisions, and compliance with your above-referenced obligations to keep confidential Protected Health Information within the meaning of federal HIPAA regulations is important to the Company’s business.  You agree to familiarize yourself with the provisions of the Restrictive Covenant Agreement, the Surviving Provisions, and the federal HIPAA regulations, as your violation of these confidentiality obligations may subject you to liability. 
You further acknowledge and agree that you have a common law duty of confidentiality to the Company that prevents you from using the Company’s confidential information during or after employment, except on the Company’s behalf.  You agree that you will not disclose to any person or entity any Confidential Information relating to the Company or its past or present partners, shareholders, owners, officers, directors or employees.  For the purposes of this Agreement, the term “Confidential Information” shall mean information not in the public domain relating to the Company’s past or present clients, business processes or methods, its trade secrets, marketing, promotional, public relations or other plans, or other information involving the Company; the Company’s financial, payroll or wage information; or any personal matters of any partner, shareholder, owner, officer, director or employee of the Company.
C. Nothing in this Agreement, including paragraphs 11(A) through 11(B), shall be construed to prevent you (or any of the Releasees) from testifying truthfully, under oath, about any matter, if required to do so in any legal proceeding.  
D. Nothing in this Agreement shall be construed to limit your right to initiate communications with, or participate or cooperate in any investigation conducted by, any federal, state or local government agency or regulatory authority, even if the subject matter of the 
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communication or investigation concerns a right, claim or matter waived or released by this Agreement.
E. Nothing in this Agreement prohibits you from reporting possible violations of state or federal law or regulation to any government agency, regulator, or legal authority, or making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation.  You are not required to notify the Company that you have made any such reports or disclosures; provided, however, that nothing herein authorizes the disclosure of information you obtained through a communication that was subject to the attorney-client privilege, unless disclosure of the information would otherwise be permitted by an applicable law or rule.  Further, pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret as defined in the Economic Espionage Act that (i) is made (1) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  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 (x) files any document containing the trade secret under seal; and (y) does not disclose the trade secret, except pursuant to court order.”
F. You understand and agree that you shall not after your Separation Date contact or communicate with employees of the Company, other than the Company’s Chief Legal Officer or its Chief Human Resources Officer, with regard to the subject matter of this Agreement.  Nothing herein shall preclude you from discussing in general terms your duties and responsibilities while at the Company. 
12. Cooperation
Following the Separation Date, you agree to cooperate with the Company in regard to the transition of the business matters you handled on behalf of the Company.  You also agree to reasonably cooperate with the Company and its counsel in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate in any way to events or occurrences that transpired while you were employed by the Company, subject to your rights in paragraphs 11(D) and 11(E) above.  Your cooperation in connection with such claims or actions will include, but not be limited to, being available to meet with the Company’s counsel to prepare for discovery, trial, or any legal proceeding, and to act as a witness on behalf of the Company at mutually convenient times.  The Company will reimburse you for all reasonable, pre-approved out-of-pocket costs and expenses (but not including attorneys’ fees and costs) that you incur and will compensate you at an hourly rate based on the base salary paid to you at the time of your separation (which is intended to be a fair and reasonable estimate of the total value of your lost time and is not intended to influence or in any way alter the substance of any testimony you may provide) in connection with your performance of your obligations under this paragraph of the Agreement, to the extent permitted by law.
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13. Remedy in the Event of a Breach
In the event you breach any portion, or challenge the enforceability, of this Agreement, Appendix A of the Equity Awards, or the Restrictive Covenant Agreement, you shall immediately, upon written demand, return to the Company all monies paid to you pursuant to this Agreement (except the payment(s) set forth in paragraphs 4(A) and 4(C)) and the Company shall retain all rights to pursue legal and equitable remedies to: (i) enforce the terms of this Agreement, the Equity Awards, and the Restrictive Covenant Agreement, (ii) recover attorneys’ fees, expenses and costs the Company incurs in connection with any such action, and/or (iii) recover any and all other damages to which the Company may be entitled at law or in equity as a result of a breach of this Agreement, the Equity Awards or the Restrictive Covenant Agreement..
14. Additional Representations
By signing this Agreement, you further acknowledge, understand, and agree that by signing this Agreement, you are knowingly and voluntarily agreeing to waive and release, among other claims, any and all claims under the ADEA and the Older Workers Benefit Protection Act you have had or may have against the Company and/or the Releasees.  Further, you understand and agree that:
A. You will have a period of twenty-one (21) calendar days from the date you receive this Agreement to review and deliberate whether or not to sign it, any or all of which period you may waive; 
B. You are hereby advised to consult with an attorney before executing this Agreement;
C. You have carefully read and understand the terms of this Agreement, and have had a full and fair opportunity to review this Agreement with an attorney of your choice;
D. You have signed this Agreement freely and voluntarily and without fraud, duress or coercion and with full knowledge and understanding of its terms and of its significance and consequences and of the rights relinquished, surrendered, released and discharged hereunder; and
E. The only consideration for signing this Agreement is stated herein, and no other promise, agreement or representation of any kind has been made to you by any person or entity whatsoever to cause you to sign this Agreement.
15. Manner of Acceptance
In order to accept the terms of this Agreement, you must return a signed copy to the Company (at the address set forth in paragraph 17 hereof) by the twenty-first (21st) calendar day after the date you receive this Agreement.  In the event a timely acceptance is made, and you do not revoke your signature pursuant to paragraph 16, the Company shall provide the consideration described in paragraph 4(B).
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In the event the twenty-first (21st) day falls on a Saturday, Sunday or on a day that the Company’s corporate office is closed, your time to accept the terms of this Agreement shall be extended until the next regular business day that the Company’s office is open.
If you do not revoke your signature to this Agreement, the eighth (8th) day after your date of acceptance will be the effective date of this Agreement (the “Effective Date”).  
16. Right to Revoke
You may revoke your signature (thereby rescinding your acceptance of the terms of this Agreement) within seven (7) calendar days from the date on which you sign this Agreement.  If the seventh (7th) day falls on a Saturday, Sunday or on a day that the Company’s corporate office is closed, your time to revoke your signature shall be extended until the next regular business day that the Company’s corporate office is open.  In the event you wish to revoke your signature, you must give written notice to that effect pursuant to paragraph 17 hereof.  If you timely revoke your signature on this Agreement, or if you do not timely sign and return this Agreement to the Company (pursuant to paragraph 15), this Agreement shall be null, void and of no effect, and you shall not be entitled to any of the consideration described in paragraph 4(B).  
17. Addresses for Notices
Any notice required pursuant to this Agreement shall be sent via registered mail, return receipt requested, or overnight mail with delivery confirmation to the following addresses:
If to the Company:  HMS, 5615 High Point Drive, Irving, Texas 75038, Attention: Meredith Bjorck, Chief Legal Officer 
If to You:  [***]
Any Notice sent in accordance with this paragraph shall be deemed effective upon receipt.  Notwithstanding anything to the contrary contained herein, at any time after the execution of this Agreement any Party may modify the address(es) (including telephone number(s)) to which it desires notices to be sent by advising the other, in writing as provided in this paragraph.  Such modification shall be deemed effective upon receipt.
18. General Legal Matters
A.The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision hereof.  In the event any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, unlawful or unenforceable, it shall be severed from the Agreement, and the court shall be permitted to redraft the language so as to conform the severed language to the Parties’ intent.  If any provision, or portion thereof, of this Agreement is determined to be invalid under applicable statute or rule of law, only such provision, and only to the extent determined to be invalid, shall be deemed omitted from this Agreement, the remainder of which shall remain in full force and effect.  In the event the general release provisions of this Agreement are determined to be invalid, you shall immediately execute a modified general release that is valid that shall be effective as of the date this Agreement becomes effective.
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B. This Agreement (including the exhibits attached hereto), the Restrictive Covenant Agreement, and the Surviving Provisions reflect the entire agreement among the Parties relating to the matters set forth herein and relating to your employment.  With the exception of the agreements described in paragraph 11(B), which agreements shall remain in full force and effect in accordance with their respective terms and conditions, any other agreements, understandings, promises or commitments among the Parties are superseded by this Agreement.  This Agreement (including the exhibits attached hereto) has been negotiated, drafted and reviewed by the Parties and/or their designated counsel.  No language herein shall be construed for or against the interests of any Party on the ground that either Party was the proponent or draftsperson thereof.  This Agreement may not be changed unless the change is in writing and signed by you and the Company.
C. This Agreement will be governed by and construed as a sealed instrument under and in accordance with the laws of the State of Texas without regard to conflicts of law provisions.  Any action, suit or other legal proceeding that is commenced to resolve any matter arising under or relating to any provision of this Agreement must be commenced only in a court of the State of Texas (or, if appropriate, a federal court located within the State of Texas) and the Company and you each consent to the jurisdiction of such a court.  With respect to any such court action, the Company and you (i) submit to the personal jurisdiction of such courts; (ii) consent to service of process by the means specified under paragraph 17; (iii) waive any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction, inconvenient forum, or service of process; and (iv) agree that the Company may seek injunctive relief in a court of law to enforce the restrictive covenants set forth in the Restrictive Covenant Agreement. THE COMPANY AND YOU EACH HEREBY IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING UNDER OR RELATING TO ANY PROVISION OF THIS AGREEMENT. 
D. Paragraph headings used in this Agreement are for informational purposes only and shall not be construed or interpreted as part of this Agreement.  Usage of the singular shall include the plural and vice versa.  Use of male pronouns shall be read to include the female and vice versa. 
E. Except for the specific representations expressly made by the Company in this Agreement, you specifically disclaim that you are relying upon or have relied upon on any communications, promises, statements, inducements, or representation(s) that may have been made, orally or in writing, regarding the subject matter of this Agreement.  The Parties represent that they are relying solely and only on their own judgment in entering into this Agreement.
F. This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), if and to the extent applicable, and will be interpreted and applied in a manner consistent with that intention. Toward that end, unless permitted sooner by Section 409A of the Code, severance amounts otherwise payable within six (6) months after termination of employment will be deferred until and become payable on the first (1st) day of the seventh (7th) month following termination of employment.  Further, to the extent Section 409A of the Code is applicable, the phrase “termination of employment” shall have the same meaning as a “separation from service” as defined in Section 409A of the Code and its accompanying 
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regulations.  Notwithstanding any provision of this Agreement, to the extent required by Section 409A, if the time period in which this Agreement may be signed and revoked spans two (2) taxable years, the Separation Payments shall be made or commence in the latter year.
G. This Agreement can be executed in any number of counterparts, each of which shall be effective only upon delivery and thereafter shall be deemed an original, and all of which shall be taken to be one and the same instrument for the same effect as if all Parties hereto had signed the same signature page.  A facsimile or e-mail copy of any Party’s signature shall be deemed as legally binding as the original signature.
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PLEASE READ CAREFULLY – THIS AGREEMENT INCLUDES A RELEASE OF CLAIMS, INCLUDING A RELEASE OF CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT.  BEFORE SIGNING THIS AGREEMENT, YOU MAY TAKE IT HOME, READ IT, AND CAREFULLY CONSIDER IT.  IF YOU CHOOSE, DISCUSS THIS AGREEMENT WITH YOUR ATTORNEY (AT YOUR OWN EXPENSE).

I hereby provide this Separation, Waiver and General Release Agreement as of the date set forth below and acknowledge that my execution of this Separation, Waiver and General Release Agreement is in further consideration of the separation benefits that I acknowledge I would not be entitled to if I did not sign it.  I intend this Separation, Waiver and General Release Agreement to become a binding agreement between the Company and me if I do not revoke my acceptance within seven (7) days of the date set forth next to my signature below. My signature below means that I have read this Agreement and agree and consent to all of the terms and conditions contained in this Release.  

RELEASOR:
									
	/s/ Teresa South		4/6/2020
	Teresa South		Date

 

FOR THE RELEASEES:

/s/ David Alexander   
By: David Alexander
Title: Senior Vice President
Chief Human Resources and Compliance Officer

Page 13 of 22

Page 14 of 22

EXHIBIT B

Waiver and General Release Agreement

        This Waiver and General Release Agreement (“Release”), entered into by and between Teresa South (referred to herein as “You” or “Releasor”) and HMS Holdings Corp.  For purposes of this Release, the term “Company” shall refer to HMS Holdings Corp and its corporate affiliates and their respective direct and indirect subsidiaries and successors and assigns.  Terms used in this Release with initial capital letters that are not otherwise defined herein shall have the meanings ascribed to such terms in the Separation, Waiver and General Release Agreement, dated _________, 2020, by and between you and the Company (the “Agreement”).  The Company, together with its past and present parents, subsidiaries, affiliates, shareholders, owners, partners, members, officers, directors, representatives, employees, agents, counsel, successors and assigns, benefit plans, benefit plan trustees and administrators are referred to collectively herein as the “Releasees.”  You and the Releasees shall be referred to collectively herein as the “Parties” and individually as a “Party.”

        WHEREAS, you and the Company are parties to the Agreement; and

        WHEREAS, paragraph 4(B) of the Agreement provides that you will be entitled to certain payments and benefits if you sign a release of claims agreement;

        NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 

1. Nature of Agreement and Non-Admission of Liability
This is an agreement of settlement and compromise, and by entering into this Release none of the Parties agree or concede in any manner whatsoever that they violated any law or statute of any jurisdiction, breached any duty, responsibility or contract, or acted improperly in any manner. It is understood and agreed that nothing in this Release shall be interpreted or construed as the admission of any wrongdoing by any or all the Releasees or by any person or entity acting for or on behalf of any or all of the Releasees. 
2. Release
In exchange for the consideration provided by the Company under the terms of the Agreement in paragraph 4(B), you irrevocably and unconditionally release and discharge the Releasees jointly and severally, from any and all debts, claims, liabilities, demands and causes of action of every kind, nature and description, in law, or in equity, which against the Releasees, you, your heirs, executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may have for, upon or by reason of any matter, cause or thing whatsoever, from the beginning of time to the date you sign this Release.  You represent that you have not assigned or otherwise transferred any interest in any claim (or any portion thereof) that is the subject of this Release.
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This Release covers, without limitation, any claims of harassment and/or discrimination on the basis of sex, sexual orientation, gender identification, pregnancy, disability (including claims concerning a history or record of a disability, predisposing genetic condition, and claims that you were regarded as having a disability), handicap, genetic information, race, color, religion, creed, national origin, ancestry, age, citizenship, ethnic characteristics, marital status or military/veteran status and also includes, no matter how denominated or described, any claims under any federal, state or local law, statute, rule, regulation, ordinance or executive order of discrimination and/or retaliation and non-payment of wages, bonuses, commissions or other compensation, including, without limitation, the Age Discrimination in Employment Act of 1967 (“ADEA”), Older Workers Benefit Protection Act, Employee Retirement Income Security Act of 1974, Title VII of the Civil Rights Act of 1964, Civil Rights Act of 1866 and/or 1871, 42 U.S.C. § 1981, The Civil Rights Act of 1991, Rehabilitation Act of 1973, Executive Order 11246, Executive Order 11141, Genetic Information Nondiscrimination Act of 2008, Americans with Disabilities Act of 1990 (“ADA”), ADA Amendments Act, Family and Medical Leave Act, Occupational Safety and Health Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act, the Equal Pay Act of 1963, the Lilly Ledbetter Fair Pay Act of 2009, Fair Labor Standards Act, Worker Adjustment and Retraining Notification Act, Fair Credit Reporting Act, the National Labor Relations Act, the Labor Management Relations Act, the Immigration Reform and Control Act, Texas Labor Code Annotated § 21.001 et seq. (Texas civil rights law), Texas Labor Code Annotated § 21.055 et seq. (Texas whistleblower protection law), Texas Commission on Human Rights Act, Texas Law on Communicable Diseases, Texas Breast-Feeding Rights and Policies Law,  and all other federal, state and local laws, and including without any limitation, any claims of wrongful or tortious discharge or termination, breach of contract, breach of the implied covenant of good faith and fair dealing, written or oral, express or implied, breach of promise, public policy, negligence, intentional infliction of emotional distress, negligent infliction of emotional distress, assault, battery, false imprisonment, defamation, libel, slander, invasion of privacy, impairment of economic opportunity, loss of business opportunity, fraud, misrepresentation, and whistleblower activities, and any claim or damage arising out of your employment with and/or separation from the Company (including a claim for retaliation) under any common law theory or any federal, state or local law, statute, rule, regulation, ordinance or executive order not expressly referenced above. This Release does not affect your right to benefits under the terms of any employee benefit plan in which you participated while employed by the Company, continuation coverage benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), your right to enforce the terms of the Agreement, any claim for indemnification to which you are entitled under the Company’s directors and officers liability insurance or under the Certificate of Incorporation or By-Laws of the Company or your rights under the Equity Awards. 
This Release does not apply to any claims or rights that may arise after the date you sign this Release.  Excluded from this Release are any claims which cannot be waived by law, including but not limited to, the right to participate in an investigation conducted by certain government agencies.  You do, however, waive your right to any monetary recovery from the Company or the Releasees should any agency (e.g., the Equal Employment Opportunity Commission) pursue any claims on your behalf, unless otherwise prohibited by law, and provided that you have not waived any right to, and shall not be precluded from seeking, any 
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government issued award including any whistleblower award pursuant to Section 21F of the Securities Exchange Act of 1934, as amended, or similar provision.  You represent and warrant that you have not filed any complaint, charge, or lawsuit against the Company with any government agency or any court.  
You agree never to sue the Company or the Releasees in any forum for any claim covered by the above waiver and release language, except that you may bring a claim against the Company under the ADEA to challenge this Release.  If you violate this Release by suing the Company or the Releasees, other than under the ADEA or as otherwise set forth above, you shall be liable to the Company and/or the Releasees for their reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit.  Nothing in this Release is intended to reflect any party’s belief that your waiver of claims under ADEA is invalid or unenforceable, it being the interest of the Company and you that such claims are waived.

The Parties intend this Release to be construed and interpreted to the fullest extent permitted by law as a general release.  The terms of this Release are accepted by you as full and complete resolution, accord and satisfaction of any and all claims, demands or grievances you have made against, and/or could have made against any of the Releasees.

3. Acknowledgements
You acknowledge that you have no knowledge of any violations by the Company of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), the Fair Debt Collection Practices Act, the civil or criminal provisions of the federal False Claims Act, the Civil Monetary Penalties Statute, Titles XVIII and XIX of the Social Security Act (the Medicare and Medicaid statutes), the Health Care Benefit Program False Statements Statute, the Health Care Fraud Statute, any and all of the statutory provisions referenced in the Federal Health Care Offense Definitions Statute, or any other federal or state laws relating to negligence, fraud and abuse in health care (collectively, the “Health Care Laws”), or the Sarbanes Oxley Act.  You have received instruction from the Company on how to report claims or violations under the Health Care Laws and the Sarbanes Oxley Act, and as of the date of your executing this Release, you have no claims to report under the Health Care Laws or the Sarbanes Oxley Act.  You further certify that you have not reported to any government authority or other entity any such healthcare or securities compliance concerns, issues, and/or violations or potential violations, which remain unanswered or unresolved.  Furthermore, in connection with the foregoing acknowledgements, you have signed the Corporate Compliance Statement - Return of Company Property & Information document, attached to the Agreement as Exhibit A, and hereby reaffirm the representations therein.
4. Non-Waiver or Release of Subsequent Rights or Claims
Nothing contained herein is intended to or shall constitute a waiver or release of any rights or claims that arise after the date you sign this Release.  
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5. Non-Waiver of Rights Under this Release
Nothing herein is intended to or constitutes a waiver of any rights the Parties may have under this Release.
6. Representations and Warranties
As a material part of this Release, you make the following representations and warranties:
A. You have not commenced or asserted an administrative charge or complaint, and you have not commenced or asserted, and shall not commence or assert, any lawsuit, arbitration, claim or legal proceeding, against any or all of the Releasees that is designed to remedy or seek redress for any right or rights waived and/or released by this Release.
B. You agree to keep confidential all information relating to this Release, including its negotiation, terms and existence.  You may communicate or publish any information relating to this Release to your immediate family (defined herein as parents, siblings, parents-in-law, spouse, domestic partner or children), legal and financial representatives, and tax preparer.  Before such information is disclosed by you to any such person(s), however, you shall advise such person(s) that the information they will receive is to be kept confidential, and such person(s) must agree to maintain the confidentiality of the information they receive. 
C. You are not aware of any facts or circumstances suggesting that the Company has engaged in any wrongful or unlawful conduct.
7. Remedy in the Event of a Breach
In the event you breach any portion, or challenge the enforceability, of this Release, Appendix A of the Equity Awards, or the Restrictive Covenant Agreement, you shall immediately, upon written demand, return to the Company all monies paid to you pursuant to the Agreement (except the payment(s) set forth in paragraphs 4(A) and 4(C) of the Agreement) and the Company shall retain all rights to pursue legal and equitable remedies to: (i) enforce the terms of the Agreement, this Release, the Equity Awards, and the Restrictive Covenant Agreement, (ii) recover attorneys’ fees, expenses and costs the Company incurs in connection with any such action, and/or (iii) recover any and all other damages to which the Company may be entitled at law or in equity as a result of a breach of this Release, the Agreement, the Equity Awards or the Restrictive Covenant Agreement.
8. Additional Representations
By signing this Release, you further acknowledge, understand, and agree that by signing this Release, you are knowingly and voluntarily agreeing to waive and release, among other claims, any and all claims under the ADEA and the Older Workers Benefit Protection Act you have had or may have against the Company and/or the Releasees.  Further, you understand and agree that:
A. You may not sign this Release until after the close of business on the Separation Date;
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B. You are hereby advised to consult with an attorney before executing this Release;
C. You have carefully read and understand the terms of this Release, and have had a full and fair opportunity to review this Release with an attorney of your choice;
D. You have signed this Release freely and voluntarily and without fraud, duress or coercion and with full knowledge and understanding of its terms and of its significance and consequences and of the rights relinquished, surrendered, released and discharged hereunder; and

E. The only consideration for signing this Release is stated herein, and no other promise, agreement or representation of any kind has been made to you by any person or entity whatsoever to cause you to sign this Release.

9. Manner of Acceptance
In order to accept the terms of this Release, you must return a signed copy to the Company (at the address set forth in paragraph 11 hereof) on or within seven (7) calendar days after the Separation Date (provided that you may not sign this Release until after the close of business on the Separation Date).  In the event a timely acceptance is made, and you do not revoke your signature pursuant to paragraph 10, the Company shall provide the consideration described in paragraph 4(B) of the Agreement.
In the event the seventh (7th) day falls on a Saturday, Sunday or on a day that the Company’s corporate office is closed, your time to accept the terms of this Release shall be extended until the next regular business day that the Company’s corporate office is open.
If you do not revoke your signature to this Release, the eighth (8th) day after your date of acceptance will be the effective date of this Release.  
10. Right to Revoke
You acknowledge that you were previously given a period of twenty-one (21) calendar days within which to review and consider the provisions of this Release.  You may revoke your signature (thereby rescinding your acceptance of the terms of this Release) within seven (7) calendar days from the date on which you sign this Release.  If the seventh (7th) day falls on a Saturday, Sunday or on a day that the Company’s corporate office is closed, your time to revoke your signature shall be extended until the next regular business day that the Company’s corporate office is open.  In the event you wish to revoke your signature, you must give written notice to that effect pursuant to paragraph 11 hereof.  If you timely revoke your signature on this Release, or if you do not timely sign and return this Release to the Company (pursuant to paragraph 9), this Release shall be null, void and of no effect, and you shall not be entitled to any of the consideration described in paragraph 4(B) of the Agreement.  
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11. Addresses for Notices
Any notice required pursuant to this Release shall be sent via registered mail, return receipt requested, or overnight mail with delivery confirmation to the following addresses:
If to the Company:  HMS, 5615 High Point Drive, Irving, Texas 75038, Attention: Meredith Bjorck, Chief Legal Officer.
If to You:  [***]
Any Notice sent in accordance with this paragraph shall be deemed effective upon receipt.  Notwithstanding anything to the contrary contained herein, at any time after the execution of this Release any Party may modify the address(es) (including telephone number(s)) to which it desires notices to be sent by advising the other, in writing as provided in this paragraph.  Such modification shall be deemed effective upon receipt.
12. General Legal Matters
A. The invalidity or unenforceability of any provision of this Release shall not affect the validity or enforceability of any other provision hereof.  In the event any provision of this Release is determined by a court of competent jurisdiction to be invalid, unlawful or unenforceable, it shall be severed from the Release, and the court shall be permitted to redraft the language so as to conform the severed language to the Parties’ intent.  If any provision, or portion thereof, of this Release is determined to be invalid under applicable statute or rule of law, only such provision, and only to the extent determined to be invalid, shall be deemed omitted from this Release, the remainder of which shall remain in full force and effect.  In the event the general release provisions of this Release are determined to be invalid, you shall immediately execute a modified general release that is valid that shall be effective as of the date this Release becomes effective.
B. This Release, together with the Agreement, reflects the entire agreement among the Parties relating to the matters set forth herein and relating to your employment.  With the exception of the Agreement, the agreements described in paragraphs 11(D) and 11(E) of the Agreement and any Equity Award that you may have received during your employment, which agreements shall remain in full force and effect in accordance with their respective terms and conditions, any other agreements, understandings, promises or commitments among the Parties are superseded by this Release.  This Release, together with the Agreement, has been negotiated, drafted and reviewed by the Parties and/or their designated counsel.  No language herein shall be construed for or against the interests of any Party on the ground that either Party was the proponent or draftsperson thereof.  This Release may not be changed unless the change is in writing and signed by you and the Company.
C. This Release will be governed by and construed as a sealed instrument under and in accordance with the laws of the State of Texas without regard to conflicts of law provisions.  Any action, suit or other legal proceeding that is commenced to resolve any matter arising under or relating to any provision of this Release must be commenced only in a court of the State of Texas (or, if appropriate, a federal court located within the State of Texas) and the Company and 
Page 20 of 22

you each consents to the jurisdiction of such a court.  With respect to any such court action, the Company and you (i) submit to the personal jurisdiction of such courts; (ii) consent to service of process by the means specified under paragraph 11; (iii) waive any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction, inconvenient forum, or service of process; and (iv) agree that the Company may seek injunctive relief in a court of law to enforce the restrictive covenants set forth in the Restrictive Covenant Agreement.  THE COMPANY AND YOU EACH HEREBY IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING UNDER OR RELATING TO ANY PROVISION OF THIS RELEASE.
D. Paragraph headings used in this Release are for informational purposes only and shall not be construed or interpreted as part of this Release.  Usage of the singular shall include the plural and vice versa.  Use of male pronouns shall be read to include the female and vice versa. 
E. Except for the specific representations expressly made by the Company in this Release, you specifically disclaim that you are relying upon or have relied upon on any communications, promises, statements, inducements, or representation(s) that may have been made, orally or in writing, regarding the subject matter of this Release.  The Parties represent that they are relying solely and only on their own judgment in entering into this Release.
F. This Release is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), if and to the extent applicable, and will be interpreted and applied in a manner consistent with that intention. Toward that end, unless permitted sooner by Section 409A of the Code, severance amounts otherwise payable within six (6) months after termination of employment will be deferred until and become payable on the first (1st) day of the seventh (7th) month following termination of employment.  Further, to the extent Section 409A of the Code is applicable, the phrase “termination of employment” shall have the same meaning as a “separation from service” as defined in Section 409A of the Code and its accompanying regulations.  Notwithstanding any provision of this Release, to the extent required by Section 409A, if the time period in which this Release may be signed and revoked spans two (2) taxable years, the Separation Payments shall be made or commence in the latter year.
G. This Release can be executed in any number of counterparts, each of which shall be effective only upon delivery and thereafter shall be deemed an original, and all of which shall be taken to be one and the same instrument for the same effect as if all Parties hereto had signed the same signature page.  A facsimile or e-mail copy of any Party’s signature shall be deemed as legally binding as the original signature.

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PLEASE READ CAREFULLY – THIS RELEASE INCLUDES A RELEASE OF CLAIMS, INCLUDING A RELEASE OF CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT.  BEFORE SIGNING THIS RELEASE, YOU MAY TAKE IT HOME, READ IT, AND CAREFULLY CONSIDER IT.  IF YOU CHOOSE, DISCUSS THIS RELEASE AGREEMENT WITH YOUR ATTORNEY (AT YOUR OWN EXPENSE).

I hereby provide this Waiver and General Release Agreement as of the date set forth below and acknowledge that my execution of this Waiver and General Release Agreement is in further consideration of the separation benefits that I acknowledge I would not be entitled to if I did not sign it.  I intend this Waiver and General Release Agreement to become a binding agreement between the Company and me if I do not revoke my acceptance within seven (7) days of the date set forth next to my signature below. My signature below means that I have read this Waiver and General Release Agreement and agree and consent to all of the terms and conditions contained in this Waiver and General Release Agreement.  

RELEASOR:
															
	_____________________________
Teresa South
		______________________________
Date
		
					

 

FOR THE RELEASEES:

_________________________________________
David Alexander
Senior Vice President
Chief Human Resources and Compliance Officer
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