Document:

Separation Agreement

 

 
  
 Exhibit 10.1 
  
 November 9, 2004 
  
 Mr. Christopher Wolf 
  
 Dear Chris: 
  
 This letter (sometimes herein referred as this “Agreement” or this “Agreement
and General Release”) serves to confirm the terms of the agreement between you (“Employee”) and Catalina Marketing Corporation (“Employer”) regarding your separation from employment with Employer. 
  
 Your employment with Employer will conclude effective as of November 30, 2004 (the
“Separation Date”). However, effective immediately, you will no longer be the Executive Vice President and Chief Financial Officer of Employer. You may conduct an open and active employment search as soon as Employer makes a public
announcement of your departure. 
  
 You will be paid your final paycheck,
including accrued and unused vacation through such date, on or about November 30, 2004. In consideration for signing this Agreement (including the general release included herein) and in consideration for and subject to your compliance with your
promises made herein (including, without limitation, those covenants set forth in the paragraphs entitled “Non-Competition,” “Non-Solicitation” and “Non-Disparagement”, and in your Employee Confidentiality Agreement
referenced below), you will receive eighteen (18) months of salary at your current base compensation rate, as severance pay. Payments will be made ratably over the eighteen (18) month period following the Separation Date or, if later, the revocation
period described below in the paragraph entitled “Revocation,” and will be made on the dates of Employer’s regular payroll payment dates for its employees generally. You will receive up to eighteen (18) months of Senior Executive
Program benefits through Drake Beam Morin, until you are otherwise employed. You may exercise all unexpired stock options to purchase Employer’s common stock within ninety (90) days of the Separation Date in accordance with Employer’s
Stock Option Plan, to the extent such options are vested pursuant to their terms as of the Separation Date. Your healthcare benefits will continue through November 30, 2004. Subsequent to your Separation, you will receive information regarding your
eligibility for continued health insurance coverage pursuant to the Consolidated Omnibus Budget Reduction Act of 1985 (COBRA). Employer will pay or reimburse you for up to eighteen (18) months of COBRA insurance payments, but this benefit will be
discontinued once you qualify for health insurance benefits through a new employer. All payments will be less appropriate withholdings and deductions. You will be permitted to retain your cell phone and number, if logistically possible to transfer
the number into your name. You understand and agree that you would not receive the monies and/or certain of the benefits specified above in this paragraph, or the other benefits outlined in this letter, except for your execution of this Agreement
and General Release and the fulfillment by you of the promises contained herein. Without limitation of the remedies available to Employer, any breach by you of the terms of this Agreement (including, without limitation, those covenants set forth in
the paragraphs entitled “Non-Competition,” “Non-Solicitation” and “Non-Disparagement,” and in your Employee Confidentiality Agreement) will entitle Employer to terminate any additional payments or benefits under this
paragraph and to recover from you all such payments previously made. 
  
 Attorneys’ Fees. Employer will pay your attorneys’ fees of up to $5,000 for legal representation in connection with your separation from Employer, including in respect of this letter and these separation terms. 

 
 Obligation to Cooperate. Following the Separation Date, Employee will cooperate
with Employer’s defense of litigation filed against it, or in connection with any proceedings or investigations (whether or not formally instituted, and whether initiated by Employer or third parties), that involve or include questions

  
  

 

 
  
 regarding facts and circumstances of
Employer’s business and as to which Employee may reasonably be expected to have knowledge. Employer shall not make undue or burdensome requests for Employee’s assistance. Employer will reimburse Employee for any associated expenses,
including travel or out or pocket expenses, lost wages and reasonable attorneys’ fees incurred in connection with such cooperation. 
  
 Indemnification. Employee retains indemnification rights in connection with all pending lawsuits or proceedings as provided in Employer’s Bylaws and under
Delaware law, including the pending SEC investigation. Among other things, this would include Employer’s reimbursement of legal fees for Employee’s attorney (who has been approved by the Employer) in regard to these matters. This would
also include any future lawsuits or other proceedings to which Employee becomes a party as a result of carrying out Employee’s duties as an employee of Employer at any time before the Separation Date. In any case, Employer’s
indemnification obligation to Employee would be subject to Employee having met the applicable standard of care (which is in the Employer’s Bylaws as well as the Delaware General Corporation Law). Employer acknowledges receipt of a copy of
Article VII of Employer’s Bylaws, which are attached for convenience as Exhibit A hereto. 
  
 Non-Disparagement. Employee and Employer, on behalf of the “Specified Individuals” (as hereinafter defined), agree that neither Employee nor the Specified Individuals shall make any statement or
comment (written or otherwise) that criticizes, disparages, injures or harms Employee’s reputation (in the case of statements or comments by the Specified Individuals) or Employer or any of the Released Parties (in the case of statements or
comments by Employee). For the purposes hereof, the “Specified Individuals” are the current and future Board of Directors and senior corporate officers of Employer. 
  
 Non-Competition. Employee agrees that, for eighteen (18) months following the Separation Date, Employee shall not directly or
indirectly engage in any other employment or business activities which are directly competitive with Employer and its subsidiaries, affiliates and divisions, as they exist as of the date hereof. For purposes of this Agreement, competition shall be
determined by referring to the nature of Employer’s business as specified in Employer’s most current SEC filings and employee distributed press releases. This non-compete clause shall be limited to the fifty (50) United States, Japan,
Germany, France, Italy and England. 
  
 Non-Solicitation. Employee agrees
that, for eighteen (18) months following the Separation Date, Employee shall not for himself or on behalf of any other person, corporation, partnership or other entity, directly or indirectly, or by action in concert with others, solicit (or
encourage others to solicit) for employment any person who is, at the time of solicitation, an officer, manager or other employee of Employer or any of its subsidiaries, affiliates or divisions. 
  
 Revocation. Employee may revoke this Agreement for a period of seven (7) calendar days
following the day Employee executes this Agreement. Any revocation within this period must be submitted, in writing, to Debbie Booth, Executive Vice President, Business Support Services, and shall state “I hereby revoke my acceptance of our
Agreement and General Release.” The revocation must be personally delivered or mailed to Ms. Booth at Catalina Marketing Corporation, 200 Carillon Parkway, St. Petersburg, FL 33716 and postmarked within seven (7) calendar days of execution of
this Agreement. This Agreement shall not become effective or enforceable until the revocation period has expired. If the last day of the revocation period is a Saturday, Sunday or legal holiday, then the revocation period shall not expire until the
next following day which is not a Saturday, Sunday or legal holiday. 
  
 General Release of Claim. Except for his rights under this Agreement, Employee, on behalf of himself and his heirs, executors, administrators, successors and assigns, knowingly and voluntarily releases and forever discharges Employer
and its parent corporations, affiliates, subsidiaries, divisions, successors and assigns and the current or former employees, officers, directors, partners, stockholders, owners and attorneys and agents of such entities (collectively “Released
Parties”) from any and all claims, known and unknown, arising from Employee’s employment with Employer, the cessation of that employment or any other dealings of any kind between Employee and the Released Parties which Employee has or may
have as of the date of execution of this Agreement, including, but not limited to, any claims for or violations of 

 

 
  

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

  

	 	•	 	The Americans with Disabilities Act; 

  

	 	•	 	The Family and Medical Leave Act; 

  

	 	•	 	The Age Discrimination in Employment Act (ADEA), as amended; 

  

	 	•	 	Common law or statutory claims for discrimination, harassment or retaliation, based upon gender, age, race, national origin, sex, sexual orientation, disability, marital status,
medical condition, creed, color, religion, marital status, status as a disabled or Vietnam-era veteran or any other basis prohibited by law; 

  

	 	•	 	The United States Constitution, including any claims for the right of privacy; 

  

	 	•	 	Any federal, state or local civil, human rights, bias, retaliation, harassment, or discrimination law or any other similar local, state or federal law, regulation or ordinance;

  

	 	•	 	Claims for personal injury, emotional distress or loss of consortium; 

  

	 	•	 	Commission of any tort (whether negligent, intentional or otherwise); 

  

	 	•	 	Claims for equitable relief; 

  

	 	•	 	Breach of contract, whether written, oral, express or implied; 

  

	 	•	 	Claims of wrongful discharge; 

  

	 	•	 	Claims of statutory or common law misrepresentation or fraud; 

  

	 	•	 	Claims of defamation; or 

  

	 	•	 	Claims for costs, fees or other expenses including attorneys’ fees incurred or claimed in relation to the foregoing. 

  
 Affirmations. Employee affirms that Employee has not filed or caused to be filed, and
presently is not a party to, any claim, complaint or action against Released Parties in any forum or form. Employee further affirms that Employee has been paid and/or has received all compensation, wages, bonuses, commissions and/or benefits to
which Employee may be entitled and that no other compensation, wages, bonuses, commissions and/or benefits are due to Employee, except as provided in this Agreement. Employee furthermore affirms that Employee has no known workplace injuries or
occupational diseases and has been provided and/or has not been denied any leave requested under the Family and Medical Leave Act and/or any other federal, state or local leave law. Employee further affirms Employee has not complained of and is not
aware of any fraudulent activity or any act(s) which would form the basis by Employee of a claim of fraudulent or illegal activity of Employer or any Released Party. 
  
 Confidentiality. Employee agrees not to disclose any information regarding the existence or substance of this Agreement, except to
Employee’s spouse, tax advisor or attorney with whom Employee chooses to consult regarding the terms of this Agreement. In the event Employee is subject to subpoena, court order or otherwise compelled to testify, appear or provide information
regarding Released Parties, within three (3) days of Employee’s receipt of said subpoena, court order or other notification, Employee will provide written notice, via facsimile and mail, to Attn: Legal Department, Catalina Marketing
Corporation, 200 Carillon Parkway, St. Petersburg, FL 33716, Facsimile: [xxxx]. This Agreement shall not be filed with any Court and shall remain forever confidential except in an action to enforce or for breach of this Agreement. If Employee
asserts an action to enforce this Agreement or for breach of this Agreement, Employee shall use commercially reasonable efforts to maintain such confidentiality by whatever means necessary including, but not limited to, submitting the Agreement to a
court under confidential seal. 
  
 Governing Law and Interpretation. This
Agreement shall be governed and interpreted in accordance with the laws of the State of Florida without regard to the law of conflicts of laws. In the event that any provision of this Agreement is declared illegal or unenforceable by a court of
competent jurisdiction and cannot be modified to be enforceable, excluding the general release language and the Confidentiality language, such provision shall immediately become null and void, leaving the remainder of this Agreement in full force
and effect. Moreover, if any such provision determined to be invalid, illegal or unenforceable can be made valid, legal or enforceable by modification thereof, then the party for whose benefit the provision exists, may make such modification as
necessary to make the provision valid, legal and enforceable. 

 

 
  
 Nonadmission of Wrongdoing. Employee
agrees that neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed at anytime for any purpose as an admission by Employer of any liability or unlawful conduct of any kind. 
  
 Amendment. This Agreement may not be modified, altered or changed except upon express
written consent of both parties wherein specific reference is made to this Agreement. 
  
 Remedies. Employee and Employer each acknowledge that money damages and other remedies at law would not be a sufficient or adequate remedy for any breach or violation of, or default under, this Agreement. Therefore, Employee and
Employer agree that, in addition to all other remedies available hereunder, Employer and Employee shall be entitled to the fullest extent permitted by law to an injunction restraining such breach, violation or default and to any other equitable
relief including, without limitation, restraining orders, injunctive relief and specific performance, without the requirement of the posting of a bond or other security. 
  
 Entire Agreement. This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any prior
agreements or understandings between the parties, except the Employee Confidentiality Agreement which Employee executed as an employee of Employer. Employee acknowledges that Employee has not relied on any representations, promises or agreements of
any kind made to Employee in connection with Employee’s decision to accept this Agreement, except for those set forth in this Agreement. 
  
 EMPLOYEE IS ADVISED THAT EMPLOYEE HAS AT LEAST TWENTY-ONE (21) CALENDAR DAYS TO CONSIDER THIS AGREEMENT AND GENERAL RELEASE AND IS HEREBY ADVISED TO CONSULT WITH AN
ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE. EMPLOYER SHALL NOT ACCEPT THIS SIGNED AGREEMENT AND GENERAL RELEASE FROM EMPLOYEE AND SAME SHALL NOT BE EFFECTIVE UNTIL AFTER THE SEPARATION DATE. 
  
 EMPLOYEE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT AND
GENERAL RELEASE DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD. 
  
 HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THEREBY THE SUMS AND BENEFITS SET FORTH ABOVE,
EMPLOYEE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS EMPLOYEE HAS OR MIGHT HAVE AGAINST RELEASED PARTIES, WHETHER KNOWN OR UNKNOWN. 

 
 IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed
this Agreement and General Release as of the date set forth below: 
  

					
	 /s/ Christopher W. Wolf

	 	 	 	 
	Christopher W. Wolf	 	 CATALINA MARKETING CORPORATION

			
	 /s/ Dick Buell

	 	 By:
	 	 /s/ Deborah A. Booth

	 Employee Witness
	 	 	 	 
			
	 Dick Buell

	 	 	 	 
	 Employee Witness Printed Name
	 	 	 	 
	 November 9, 2004

	 	 	 	 
	DateEmployment Agreement

 Exhibit 10.2 
  
  
 

 
 March 3, 2004 
  
 Mr. L. Dick Buell 
  
 Dear Dick: 
  
 This letter sets forth all of the
terms of our offer to you for employment. I am pleased to offer you the position on our executive team for Catalina Marketing Corporation (“Catalina”) as the Chief Executive Officer. You will be based at our corporate headquarters in St.
Petersburg, Florida. Your duties and responsibilities will include the general supervision, direction and control of the business and implementation of the employer’s business plan, subject to the control of the Board of Directors and to such
supervisory powers, if any, as may be given by the Board of Directors to the Chairman of the Board. You will have such general powers, duties and authority usually vested in the office of the Chief Executive Officer of a corporation and shall have
such other powers, duties and authority consistent with the foregoing as may be prescribed by the Board of Directors. I will nominate you for membership on the Catalina Board of Directors with the expectation that you would serve on the Board as
long as you are Chief Executive Officer of Catalina. 
  
 We expect that you will
start employment on Wednesday, March 17, 2004. You will initially receive a base salary of $21,153.85 per pay period, payable bi-weekly. Your base salary as in effect from time to time will not be decreased. Performance will be reviewed annually and
may influence future compensation. There will be an interim review of your initial performance and base salary level in December 2004. 
  
 In addition to the base salary set forth above, you will be eligible to participate in an annual bonus program provided for senior management of Catalina. This
eligibility will commence with fiscal year 2005 starting on April 1, 2004. Payout of any earned bonus would take place within 60 days of the conclusion of the annual fiscal period. Your initial target bonus level is 100% of your annual base
compensation. The amount of money available for payout against this bonus target is earned on the basis of company performance against established business objectives. Your actual award may be adjusted based on your individual performance in
providing leadership to obtain those objectives as determined by the Board of Directors. Under this current management bonus program, actual awards can vary from zero to 150% of your target bonus level. The business objectives beginning with fiscal
year 2006 shall be established in writing before the start of the fiscal year, and in consultation with the Chief Executive Officer. 
  
 We will also recommend, subject to final Board of Directors’ approval, that the Board of Directors grant you a Stock Option to purchase 225,000 shares of common
stock at the then stated fair market value determined at a meeting of the Compensation Committee after the FY03 audit has been concluded and the financials have been published. The option will vest over 4 years at 25% per year, with the vesting
schedule beginning on March 17, 2004. I am also pleased to inform you that you will be eligible for consideration for allocations of additional equity which could be in the form of stock options or stock units or some combination of the two and that
the review for award consideration is usually made once a year following the annual meeting of shareholders. 
  
 You will be eligible for relocation reimbursement within the first 12 months of employment. Reimbursement will only be made for actual incurred expenses that are eligible within our relocation guidelines and within
the stated time period. Taxable relocation expenses will be grossed up. Such expenses could include (if needed by you) assistance with home sale costs, home purchase costs, 

 

 
  
 transportation of household goods and 2 cars, and
a house-hunting trip for your family up to a maximum of actual incurred costs of $50,000. In addition, we will reimburse you for actual reasonable incurred costs for temporary living during the first 6 months of employment for short-term housing and
food expenses. All temporary living and relocation costs are reimbursable to Catalina by you should you voluntarily leave employment with Catalina within 18 months after the initial date of your employment. 
  
 You will participate in Catalina’s health insurance benefits effective May 1, 2004.
Catalina will reimburse you for actual health insurance premium expenses to maintain your current insurance for you and your wife from your initial start date through May 1, 2004. May 1, 2004 is also the effective date for participation in the other
welfare benefits such as Life Insurance, LTD, STD, as well as for starting employee contributions to our 401k. Company match to the 401k begins the first quarter after one year of employment. The Human Resources Department will review your benefits
program with you and answer any questions. In addition, you will be entitled to receive twenty (20) days vacation per year. Vacation will accrue at a rate of 6.15 hours per pay period. You will remain at this level of vacation benefit until the
normal company policy would provide a higher benefit. Normal company carryover policy limitations will apply. 
  
 Catalina will reimburse you for actual incurred financial planning and/or tax preparation expenses up to $5,000 annually. Catalina will reimburse you one time for actual estate planning advice expenses up to $15,000.
We will also reimburse you for actual costs, not reimbursed by health insurance, for annual physical examinations at a clinic of your choosing in the United States, up to a maximum of $4,000 annually. Other benefits such as life insurance will be
provided in the same manner and under the same conditions as they are provided to other employees from time to time. The current value of life insurance provided to you will be $500,000. Any imputed taxable income is your responsibility. Additional
life insurance may be purchased at your expense. In addition, Catalina will reimburse you for the reasonable cost of one country club membership (includes initiation fee and monthly dues and expenses) in a club which allows use in support of
Catalina’s business. 
  
 Should you be terminated by the Board of Directors
of Catalina without cause prior to April 6, 2006 Catalina will provide you 18 months of base salary compensation, either in a lump sum payment or by salary continuation, at the discretion of Catalina, upon execution of a release satisfactory to
Catalina against all claims against Catalina, its officers, and Board of Directors. To be eligible to receive and retain this compensation, you will also have to fulfill all obligations in your Confidentiality Agreement, including the Covenant Not
to Compete and Agreement Not to Disparage the Company. Should you be terminated by the Board of Directors of Catalina “for cause” at any time, no separation benefits will be provided. The definition of “for cause” includes but is
not exclusively limited to conviction of a felony or plea of guilty or no contest to a felony, actions against the company that disparage, harm, or injure the company in a material way, violation of the employee Confidentiality Agreement, material
violations of stated company policy, becoming mentally or physically incapable of performing the duties of the position, or failure to adequately perform the duties of your position, not cured within 30 days after written notification. Termination
“for cause” also includes engaging in any conduct that constitutes fraud or, gross negligence or gross misconduct that results in material harm to Catalina. In addition, we are providing you with a separate Change of Control agreement, a
form of the agreement is attached hereto. This Change of Control agreement terminates April 6, 2006 and defines the separation benefits that apply under Change of Control. 
  
 As a condition of employment, you are required to execute a Confidentiality Agreement; a form of the agreement is attached hereto. This
Confidentiality Agreement covers a wide range of topics that include your affirmation that there are no terms for your length of employment and that you have no conflicts with regards to former employers in fulfilling the responsibilities of this
position. You also will commit to protect confidential information forever and not to engage in activities competitive with the scope of Catalina’s current operations or logical future operations during your tenure. You also agree not to
solicit Catalina employees for alternate employment or business arrangements within two years of leaving the company. You also agree not to compete directly or indirectly with Catalina for two years after leaving the company. 

  
 

 
 You will devote your full time and efforts during working hours to the performance of the duties of Chief Executive Officer
and will render your services solely and exclusively to Catalina, using your best efforts to advance the interests of the business. Participation on the board of directors of a “for profit” business requires approval by the Nominating and
Corporate Governance Committee of the Board of Directors. Our policy limits participation to one board. However, your current participation on two such boards will be given consideration by that Committee. 
  
 Your co-signature on this offer letter and your execution of the Change of Control Agreement
and the Confidentiality Agreement are required for employment. On your first day of work, you will need to furnish identification to verify your right to work in the United States. 
  
 Catalina is a drug free workplace. All employees are required to submit to a urinalysis at a laboratory chosen by Catalina within two
business days after accepting an offer of employment. A Chain of Custody form and instructions on the drug testing procedures will be provided to you by the Human Resources Department under separate mailing. This offer of employment is contingent
upon our receiving a negative drug test result and by your co-signature on this offer letter you release Catalina and any of its subsidiaries from any liability which may result from the drug test process. 
  
 Please fax a signed copy of all three documents to Ed Buck, Senior Vice President of Human
Resources for Catalina Marketing at fax number [xxxx]. An original should also be forwarded to Ed’s attention at 200 Carillon Parkway, St Petersburg, Florida 33716. Please call Ed (phone number is [xxxx]) before sending the fax. 
  
 This offer is valid for five business days from the receipt of this letter. 
  
 Dick, on behalf of Catalina Marketing Corporation, the Board of Directors, and the executive
team, we look forward to you joining Catalina and to a return of the growth characteristics that have generated value for our shareholders in the past. 
  

					
	Sincerely,	  	ACCEPTANCE:	 	 
			
	 	  	 	 	 /s/ L. Dick Buell

	 	  	 	 	L. Dick Buell
			
	 Frederick W. Beinecke
 Chairman of the
Board, Catalina Marketing
	  	 	 	 3-12-04

	  	 	 	Date

  

			
	Cc:	 	Mike O’Brien, Interim CEO
	 	 	Ed Buck, SVP, Human Resources

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