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paulfarnsworthemployemen

                          EMPLOYMENT      AGREEMENT          THIS EMPLOYMENT      AGREEMENT     and Addendum  to Employment Agreement  attached hereto (collectively,                             this'oAgreement"), dated as of February __-__- 2019, is between  Dice,Inc., a Delaware coqporation (the "Company"), with its principal place of business at  1450 Broadway, New  York, New York 10018, and Paul Farnsworth, an individual, whose  address is reflected in the company's records (thel "Ernplqycg"), and, solely for the  purposes of Sections 1 and2&) of the Addendum, DHI Group, Inc. (,,Paren!,').          In consideration of the Company's securing the services of the Employee as the  Company's  Chief Technology Officer, and the Employee's underlaking employment with  the Company in such position, the Company and tire Employee hereby agree to be bound  by and comply with the following terms and conditions and agree as follows:          Section 1.   At-Will Employment. The Employee acknowledges and agrees that  his employment status is that of an employee-at-will and that the Employee's employment  may be tenninated by the Company or the Employee at any time with or without cause,  subject to the terms and conditions in the Addendum to Employment Agreement hereto.  The Employee's start date shall be on or about February 25,20L9 (the date on which the  Employee actually commences services, the "Employment Commencement Date').         Section 2.    Compensation. In consideration of the services to be rendered  hereunder, the Ernployee shall be paid, and the Company shall pay the Employee, in  accordance with the Addendum to Employment Agreement attached hereto.         Section 3.    Employee lnventions and Ideas.                (a)    The Employee will maintain cwrent and adequate written records on the development of, and disclose to the Company, all Inventions (as defined herein). "Inventions" shall mean all ideas, potential marketing and sales relationships, inventions, copyrightable expression, research, plans for products or services, marketing plans, computer  software (including, without limitation, source code), computer programs, original works of authorship, characters, know-how, trade secrets, information, data, developments, discoveries, improvements, modifications, technology, algorithms and designs, whether or not subject to patent or copyright protection, made, conceived, expressed, developed, or actually or constructively reduced to practice by the Employee solely or jointly with others during the term of the Employee's employrnent with the Company,  which refer to, are suggested by, or result from any work which the Employee may do during his employment, or from any information obtained from the Company or any affiliate of the Company in the course of his employment by the company.               (b)    All Inventions shall be the exclusive property of the Company, and                                                                      o.work  the Employee acknowledges that all of said Inventions stratf be coniidered as made for hire" belonging to the Company. To the extent that any such lnventions, under applicable law, may not be considered work made for hire by the Employee  for the Company, the Employee  hereby agrees to assign and, upon its creation, automatically and irrevocably assigns to the Company, without any fLrther consideration, all right, title and   Doc#: USI:12294394v4 

 

  interest in and to such materials, including, without limitation, any copyright, other   intellectual property rights, moral rights, all contract and licensing rights, *a m claims   and causes of action of any kind with respect to such materials. T[e Conaany shall have  the exclusive right to use the Inventions, whether original or derivativ., io, ull purpor.u  without additional compensation to the Employee.  At the Company's   expenr., th.  Employee  will assi"st the Cornpany in every proper way to perfect the Company-'s rig6ts in  the Inventions and to protect the Inventions throughouithe world, including, *ithout  limitation, executing in favor of the Company or any designee(s) of the Company patent,  copyright, and other applications and assignments relating to the Inventions. the Employee  agrees not to challenge the validity of the ownership by the Company or its designeilr) in  the Inventions.                (c)    Should the Company  be unable to secure the Eurployee's signature  on any document recessary to apply for, prosecute, obtain, or enforce any patent,  copyright, or other right or protection relating to any Invention, whether due lo the  Employee's  mental or physical incapacity, or any other cause, the Employee hereby  irrevocably designates and appoints the Company and each of its duly authorized offlrcers  and agents as the Employee's agent and attorney in fact, to act for and in the Employee's  behalf and stead and to execute and file any such document, and to do all other iawfully  permitted acts to further the prosecution, issuance, and enforcement of patents, copyrights,  or other rights or protections with the same force and effect as if executid and aefvlred by  the Employee,                (d)    Notwithstanding the Employee's  confidentiality obligations set  forth in this Agreement, pursuant to the Defend Trade Secrets Act of Ztitl,the Employee  shall not be held crirninally or civilly liable under any Federal or State trade secret law for  the disclosure of a trade secret that: (A) is made (i) in confidence to a Federal, State, or  local govemment offioial, either directly or indirectly, or to an attorney; and (ii) solely for  the purpose of reporting or investigating a suspected violation of hwj or (B)'is made in a  complaint or other document filed in a lawsuit or other proceeding, if sucl irting is made under seal. The Employee also understands that if he files a lawsuit for retaliati;n by the Company   for reporting a suspected violation of law, the Employee may disclose the trade secret to his attorney and use the trade secret information in the couft proceeding, if the Employee  (A) files any document containing the trade secret under seal, and (B) does not disclose the trade secret, exeept pursuant to court order.         Section 4. Proprietar.y lnformation.               (a)    The Ernployee will not disclose or use, at any time either during or after the term of employment,                             any Confidential Information (as herein defined), .*.rpi 1i; at the request of the Company or an affiliate of the Company or (ii) as required in tfre performance of the Employee's duties hereunder; provided, however, ihat if the Employee receives a request to disclose Confidential Information pursuant to a deposition, interrogation, request for information or documents in legal proceedings, subpoena, civil investigative demand, governmental or regulatory pro.i.r tr similai p.o.rrr, (A) the Employee shall promptly noti& in writing the Company, and consult with and assist the Company in seeking a protective order or request for other appropriate remedy, (B) in the   Doc#: IIS I r I 2294394r,4 

 

 event that such protective order or remedy is not obtained, or if the Company waives  compliance with the terms hereof, the Employee shall disclose only that portion of the  Confidential Information which, based on the written advice of the Employee's legal  counsel, is legally required to be disclosed and shall exercise reasonable efforts to provide  that the receiving person shall agree to treat such Confidential Information as confidential  to the extent possible (and permitted under applicable law) in respect of the applicable  proceeding or process and, (C) to the extent reasonably practicable, the Company stratt te  given an opportunity to review the Confidential Information prior to disclosure thereof.  "Confidential Information" shall mean all Company proprietary information, technical  data, trade secrets, and know-how, including, without limitation, research, product plans,  customer lists, customer preferences, marketing  plans and strategies,  software,  development, inventions, discoveries, processes, ideas, formulas, algorithms, technology,  designs, drawings, business strategies and financial data and information, including, but  not limited to Inventions, whether or not marked as "ConJidential.  "Confidintial  Information" shall also mean any and all information received by the Company from  customers, vendors and independent contractors of the Company or other third parties  subject to a duty to be kept confidential, Notwithstanding the foregoing, o'Confidential  lnformation" shall not include information that is or becomes generally known by the  public other than by breach of this Agreement by, or other wrongful act o{ the Employee.                (b)    The Employee hereby acknowledges  and agrees that all personal  properfy, including, without limitation, all books, manuals, records, reports, notes,  contracts, lists, blueprints, and other documents, or materials, or copies thereof,  Confidential Information as defined in Section 4(a) above, and equipment furnished to or prepared by the Employee  in the course of or incident to his employment, including, without limitation, records and any other materials pertaining to Invintions, belong to thi Company and shall be promptly returned to the Company upon termination of employment (or earlier at the Company's request). Following termination, the Employee will not retain any written or other tangible or electonic material containing any Confidential Infornation or information pertaining to any Invention.                (c)   Notwithstanding any other provision in this Agreement, nothing h9r9i1 shall (i) prohibit the Employee from reporting to the staff of-the SEC possible violations of any law or regulation of the SEC, (ii) prohibit the Employee from making other disclosures to the staff of the SEC that are protected under the whistleblowei provisions of any federal securities laws or regulations or (iii) lirnit the Employee's right to receive an award for information prnvided to the SEC staff in accordancl with the foregoing, The Employee does not need the prior authorizations of the Company to engage in such reports, communications or disclosures and Employee is not requirid to notify the Company  if Employee engages in any such reports, corlmunications oidisclosures.        section 5. Limited Agreement Not to competelsolicit/Disparage.               (a)    While employed by the Company and for a period of six (6) months after the termination of the Employee's employrnent with the C-ompany, the Employee shall not, directly or indirectly, as an employee, employer, consultant, agent, pdncipal, partner, manager, stockholder, officer, director, or in any other individual or representative   Doc#: USI:12294394v4 

 

  capacity, engage, participate or in any way render services or assistance to any business  that is competitive with the businsss of the Company. Nonvithstanding the foregoing, the  Employee may   own less thzur two percent (zYfl any class                                               $           of stock or r..*Ity o-f uny-  corporation which competes with the Company listed on a national securitier                                                                        "*rhung..                 (b)   While employed by the Company and for a period of six (6) months  after the termination of the Employee's employment with the Company, the Employee  shall not, directly or indirectly, solicit for employment or employ any person who was  employed by the Company  at the time of the Employee's termination from the Company.                (c)    The Employee hereby agrees       that prior to commencing  employment  with, or commencing to provide services to, any other person or entity durin!  any pertod during which the Employee remains subject to any of the covenants set forth  in this Section 5, the Employee shall provide such employer with written notice of such  provisions of this Agreement (which may be effected by advising such prospeetive  employer of the location of the publicly filed agreements) with a copy of ruch t oti.. ot  advice delivered simultaneously to the Company, and the Employee   authorizes the  Company  and any of its affiliates to do the same.                (d)    The Employee  hereby agrees from the date hereof and at all times  following his termination of employment (i) not to participate or engage in any trade or  commercial disparagement of the business or operations of the Company or any of its  affrliates; and (ii) not to make any disparaging remarks or Gornmunications of any type  conceming the Company or any of its affiliates or any of the officers, directors, employies,  partrrers, members, managers, shareholders or agents ofthe Company or any of its affiliates. Nothing in this Section 5 shall prohibit disclosure (x) as may be ordered by any regulatory agency or court or as required by other lawful process, or (y) as may be necessary for the prosecution of claims relating to the performance or enforcement ofifris Agreement.         section 6.   company   Resources. The Employee  may not use any company equipment  for personal pul?oses (other than incidental personai use) without written permission from the Company.  The Employce may not unreasonably give access to the Company's  offices or files to any person not in the employ of the Company without written permission of the Company,         Section 7.   Post-Termination Period. Because of the difficulty of establishing wfel any idea, process or invention is first conceived or developed by the Employee, oi whether it results from access to Confidential Information or thi Company's equipment, facilities, and data, the Employee agrees that any idea, invention, iesearch,-plan for products or servises, marketing plan, computer software (including, without limitation, source gode), computer program, original work of authorship, character, know-how, trade $ecret, information, data, developments, discoveries, technology, algorithm, design, patent or copyright, or any improvemeot, rights, or claims relating to the foregoing, shall be presumed to be an Invention if it is conceived, developed, used, sold, exploited or reduced to practice by the Employee or with the aid of the Employee within 6ne (1) year after tgrminali9n of employment. The Employee can rebut the above presumption if he proves that the idea, process or invention (i) was first coneeived or devel,oped after terminaiion of   Doc#: USl:1229439.1v4 

 

  employment, (ii) was conceived or developed entirely on the Employee's own time without   gtirg the Company's    equipment, supplies, facilities, personnel or Confidential   Information, and (iii) did not result from or is not derived directly or indirectly, from any   work performed by the Employee for the Company or from woik performed-by another   employee of the Company to which the Employee had access.          Section 8.    Injunctive Relief. The Employee agrees that the remedy at law for   any breach of the provisions of Sections 3, 4 or 5 of this Agreement shall be inadequate,  the Company   will suffer immediate and imeparable harm, and the Company stratt Ue   entitled to injunctive relief in addition to any other remedy at law which the Company may  have.          Section 9.   Severabilit)r. In the event any of the provisions of this Agreernent  shall be held by a court or other tribunal of competent jurisdiition to be unenforc*"blr, th*  other provisions of this Agreement shall remain in full force and effect,          section 10.  survival. sections 3, 4,5,7,9,12, i3 and i4 of thisAgreementand  Sestions 3,5 and 6 of the Addendum shatrl survive the termination of this Agieement,          Section I 1. Re?resentations and Warranties. The Employee  represents and  wauants that (i) the Employee has the frrll right, authority and .upacity to anter into this  Agreement  and pelform his obligations hereunder, (ii) the Empioy.r ir not rrnder any  obligatiou to any third parry which conflicts with, prevents, reslicis or otherwise could  interfere with the Employee's performance under this Agreement, and (iii) the execution  and delivery of this Agreement by the Ernployee shall noiresult inany breach or violation  oS or a default under, any existing obligation, commitment or agreement to which the  Employee  is subject (including but not limited to any agreement not to disclose any  proprietary information) inciuding, without limitation, that of former employers; provided  that notwithstanding the foregoing, in the event that the Employee determiner thut * action  yhich the Company requests him to pursue (other than thi entry into this Agreement and  the commencement  of employment with the Company)  would cause him to violate any  such agreement, so informs the Company, and the Company instructs him to proceed with  such       action, the Employee's proceeding with such action shall not be deemed to be a violation of this representation and warranty..         section 12.  Governing Law: venue:  waiver of Trial by Jury.                (a)   This Agreement shall be deemed to be macle in the State   of New York, and the validity,   interpretation, construction and performance of this Agreement  in all respects shall be governed by the laws of the State of New york without regard to its principles of conflicts of law. No provision of this Agreement or any related document will be construed against or interpretid to the disadvant-age of any parfy hereto by any court or other governmental or judicial authority by reason o-f such pariy having or being deemed to have structured or drafted such proviiion. The Employee acknowledges and agrees that the Employee was represented by counsel                                                      and has expressty-  agreed to ihe provisions in this Agreement, including without limitation this geatlon tz.    Doc#: Ulil : i229.1-39.1v4 

 

               (b)   The Ernployee and the Company  each hereby irrevocably submits  to the exclusive jurisdiction of the federal courts located in the City and County of Denver,  Colorado (or, if subject matter jurisdiction in that court is not available, in any state court  located within the City and County of Denver, Colorado) over any dispute arising out of or  relating to this Agreement. The parties undertake not to .orrr*.n.e any suit, action or  proceeding arising out of or relating to this Agreement in a forum other than a forum  described in this Section l2(b); provided, however, that nothing herein shall prech-rde a party  from bringing any suit, action or proceeding in any othel court for the pr,rpoi.r of enfoicing  the provisions of this Section 12(b) or enforcing any judgment obtainedby the Companyl  The agreement of the parties to the forum described in this Section 12 is independent of  the law that may be applied in any suit, action, or proceeding and the parties agree to such  forum even if such forum may under applicable law choose to apply n-on-forum law. The  parties hereby waive, to the fullest extent permitted by applicable law, any objection which  they now or hereafter have to personal juriscliction or to the laying of venue of any such  suit, action or proceeding brought in an applicable court clescribed in this Section 12(b),  and the parties aglee that they shall not atternpt to deny or defeat such personal jurisdiction  by motion or other request for leave fi'om any such court, The partGs agree that, to the  fullest extent permitted by applicable law, a final and non-appealatle judgment in any suit,  action or proceeding brought in any applicable corrt described in thii Section l2 shall be  conclusive and binding upon the parties and may be entbrced in any other jurisdiction.                (c)    Each party hereto hereby waives, to the fullest extent permitted by  applicable law, any right it may have to a trial by jury in respect of any sgit, action or  proceeding arising out of or relating to this Agreement. Each party hereto (i) cerlifies that  no representative, agent or attorney of any other party has representecl, expressly or  otherwise, that such party would not, in the event of any action, ruit or ploceeding, seek to enforce lhe foregoing waiver and (ii) acknowledges that it and the othir party hereto has been induced to enter into this Agreement by, among other things, the mirtuai waiver and cefiifications in this Seption 12. Each party shall bear its own costs and expenses (including reasonable attorneys' fees and expenses) incurred in connection with any dispute arising out of or relating to this Agreement (except to the extent that a court orders one of the parties to pay the fees, costs and expenses of the other party).         Section 13'  General. This Agreement   supersedes and replaces any existing agreement between the Employee and the Cornpany relating generally to the same subjecl tnatter, and may be modified only in a writing signed by the parties hereto. Failuri to enforce any provision of this Agleement shall not constitute a waiver of any term herein, This Agreement  contains the entire agreement between the parties with iespect to the subject matter herein. The Employee agrees that he will not assign, transfer, oi otherwise dispose of, whether voluntarily or involuntarily, or by operation of law, any rights or obligations under this Agreement, Any purported assignment, transfer, or disposition in violation of this Section l3 shall be null and void. Nothing contained in this Agreement shall prevent the consolidation of the Company with, or its merger into, any other corporation, or the sale by the Company of all or substantially all of its properties or assets, or the assignment by the Cornpany of tU. Agreement and the performance of its obligations hereunder. Subject to the foregoing, this Agreement shall Ue Uinding upon and shall inure   Doc#: US I :1 2294394v4 

 

  to the benefit ofthe parties and their respective heirs, legal representatives, successors, and   permitted assigns, and shall not benefit any persoll or entity other than those enunrerated.           Section 14.  Notices. Any notice, reqllest, claim, demand, document, and other   commtmication hereunder to any party hereto shall be effective r.rpo1 receipt (or refusal of   receipt) and shall be in writing and delivered personally or sent by telex, tilecopy, or sent   by nationally recognized overnight courier, or certified or registered nrail, postage prepaid,   to the following address (ol at any other address as any party hereto shall travl speclfied   by notice in writing to the other party hereto):                 (a)    If to the Cornpany:                 Dice,Inc.                1450 Broadway                New York,  New Yor.k 10018                Attention: General Cormsel    and                If to the Employee, at his rnost recent address on tlie payroll records of the                Cornpany.                 Section 15.  Employee  Acknowledgment.  The Employee  acknowledges   (i) that he has consulted with ol has had the opportunity to consult wlth independent  corursel of his own choice concerning tliis Agreement and has been advised io do so by  the Company, and (ii) that he has read and understands this Agreement, is fully aware of  its legal effect, and has entered into it freely based on his ownludgment.                                           7  Doc#: USI:1229439;lv4 

 

         IN WITNESS    WHEREOF, the pafties   hereto have executed this Employment   Agreenrent effective this itTAday of February,Z0lg.                                     DICE INC.                                    Sign:                                    Date:                                     EMPLOYEE                                    Sign:                                   Date:                                    Solely for the puryoses of Sections I and 2(b) of the                                  Addendum                                    DHI  GROUP,                                   Sign:                                   Date:   Doc#: US I :1 2294394v4 

 

       Addendrm   to E*nlovm*nt Agreeme[t   - paul Faroswo.th (the ,,Emplovee,,)                  Section 1.   Title and Jqb Description. The Employee shall be employed    on a         fuIl-time basis, as the Chief Tecbnology Officer of the Company, ln such     the Employee                  shall be responsible for such- duties and any othei responsibilities""purity, as are    customary               for such position and such cluties as may reasonably assigned by the Chief   Executive Offlrcer of                                    parent    ,,Board,,)                       the Company  or the Board of Directors of   fihe         from   time         to time. The Employee shall report to the Chief Executive Officer of the Corrprny.   The Ernployee                  shall perform his duties and responsibilities in, and the principal office at   which          the Employee is employed shall be, the iompany's offices in Centennial, Colorado   and at          such other location(s) to which the Compani*iV reasonably require the Employee   to travel for Company business purposes.                 Section 2.    Compensation.                 (a)    In consideration of the services to be rendered hereunder: the   Employee              shall be paid an annual base salary of $310,000 per year (prorated for calendar   year        2019) plus an annual bonus (the "Annual Bonuq") targited at 50\/oof the Employee's   then-current                annual base salary, determined in accordance with the terms of the Senior   Bonus          Plan (or any successor annual cash bonus plan applicable to the other senior   executives              of the Company). The calculation of the 2otg Annual Bonus will be prorated   based on time                of service during the year. Any Annual Bonus compensation payable to the   Employee shall                  be payable at the same time as annual bonuses are payable generally to the   other senior               executives of the Company, but in any event by March 13 of the calendar year   following             the calendar year to which such Annual Bonus i'elates, subject to the condition  tha-tlhe Employee                    remain employed by the Company through the applicable payment date,  and has not resigned                      (or giveu notice of such resignation;, or been terminated for Cause.                 (b)   Subject to approval by the Compensation Committee of the Board  (the "Compensation                      Committec"), the Empioyee shall be entitled to receive, on the next  Parent          lward gra[t date following the Employment Commencement  Date, the following  grants          from Parent of equity-based awards: (i) a grant of 70,000 shares of restricted  common            stock of Parent ("ResInctedjlock'), which shall vest ratably over three years  with one third vesting                       on each of the first three anniversaries of the date of grant, and (ii) a  grant of 70,000                  shares of Parent Performanee Stock, which shall vest rat;blt over three  years        with one third vesting on each of the first tluee anniversaries of the date of grant  provided    performance           the             targets are achieved, all subject to the Employee's continued  employmenlthrough                      each such vesting date. The Restricted Stock and performance Stock  grants described                  in this *slion2&)  will be made under the Cornpany,s 2012 Omnibus  Equity Award                PIan (the "PIer') subject to and in accordance with the terms and conditions  of the Plan and the applicable award agreement.                (c)    fh? Employee shall be eligible for all employee benefits under the  Company's             benefit plans in effect from time to time, including heatih, life, dental, vision, shofi-term            disability, and 401(k) Plan, in accordance with the terms and conditions of those benefit plans.               The Employee  shall be entitled to 25 vacation days annually, plus Company designated holidays, and five (5) sick days per year, consisient with ct*puny policy   Doc#: US I :1 229419{r,4 

 

  (prorated during the Employee's  first calendar year of employment  based on the   Employment Commencement     Date).                  (d)   The  Ernployee's compensation shall be reviewed on at least an   annual basis, with the first such review occurring on the Company's annual compensation   review date in 2020. The Employee's base salary, as increased from time to time, may not   be decreased without the Employee's prior written consent.                 (e)    The Company   shall pay or shall reimburse the Employee for the   Employee's reasonable business expenses incured by the Employee in carrying out the   Employee's  duties under this Agreement  that are doeumented  in accordance with   applicabie Company policy.                 Section 3.    Severance. In lieu ofany severance pay or severance benefits   otherwise payable to the Employee under any plan, policy, program or arrangement of the   Company  or its subsidiaries, the following shall apply:                 (a)    Subject to Section 3(c), ifthere is a Termination (as herein defined)   of the Employee's employment with the Company without Cause, the Employee shall be   entitled to receive a lump-sum severance payment equal to six-months of severance pay   based on Employee's then-current annual base salary.                 (b)    Subject to Section 3(c), following a Termination, the Employee   shall be reimbursed for the cost of health insurance continuatiofl coverage under the   Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), in excess of the  cost of such benefits that active employees ofthe Company are required to pay, for aperiod  oftwelve (12) months (or until the Employee obtains individual oifumlly.Lr.rug. through  another employer, if earlier) (the "eeB&A Esrled"), ryided that the Ernployee elecls  COBRA coverage   and subject to the conditions that: (i) the Employee is responsible for           notifying   P_pmptly          fhe Company  if the Employee obtains alternative insuranie coverage,  (ii) the Employee will be responsible for the entire COBRA premium amount after the end  ofthe COBRA   Period; (iii) if the Ernployee declines COBRA coverage, then the Company  shall not make any alternative payment to the Employee in lieu of paying for COBRA  premiums, and (iv) such COBRA reimbursement  payments shall Ue paiA or, *n after tax  basis as additional taxable compen$ation to the Employee.                (c)    The severancepayand severance benefits described inthe foregoing  provisions of this Seqtion 3 are expressly eonditioned upon the Employee's execution and  delivery of the Company's customary general waiver and release oicliims in favor of the  Company  and its affiliates, that has become effective and irrevocable in accordance with  its terms within 60 days following the date of termination of employment. All payments  (including any payments that would have been made between the date of termination of  employment and the effective date of such release but excluding any payments in respect  g{equity awards) shall be made as soon as practicable but in any .uent within l0 days  following the effective date of such release; provided that if such 60-day period spans two  calendar years, in no event will any payments or benefits that constitute 'ideferted  compensation" within the meaning of section 4agA ("Eeglign 409A,) of the Internal                                          t0  Doc/l: USI :1 2294394v4 

 

  Revenue Code of i 986, as amended from time to time (the "Code"), be paid prior. to the   first day of such second calendal year. Any payments in respect of the settlement of equity   awards (including equity awards that vestscl in accordance rvith this Section 3) shail be   made in accordance with the agreements governing such grants,                 (d)    Upon termination of the Ernployee's employment for any reaso1l,  this Agreement shall terminate (and the Company shall not have-any obligation to provide  any compensation or benefits to the Ernployee except as specifically conteniplatecl herein).  Upon  termiuation of the Etnployee's ernployment for any reason, whethel voluntarily or  involuntarily, the Employee shall be cleemed to have  resigned frorn all positions,  directorships, and memberships held with the Company or any of its affiliates, whether as  an employee, officer, director, trustee, consultant, or otherwise , and such resignations shali  be effective upon such termination of employment without any other action Lequired by the  Employee.   The Employee   hereby  agrees to execute all clocumentatior reasonably  requested by the Company to effectuate the foregoing, or otherwise authorizes the offrcers  of the company to execute all such documentation on his/her behalf.                (e)    Post-Employrnent Cooperation. The Employee   agrees that upon  reasonable notice and without any requirement that the Company obtain a subpoena or  court order, the Ernployee shall provide reasonable cooperation iu corutection ,,vith any  suit, action, or proceeding and any investigation or defense of any clainrs assefted against  the Cornpany or any of its affiliates, in either case that relates to events occuring cluring  the Employee's employment  with the Company as to which  the Employee  miy havi  relevant information (including but not limited to furnishing relevant inforrnation and  materials to the Cornpany or its designee or providing testimony at depositions and at trial).                Section 4.   Definitions.                (a)    For pllrposes of this Agreement   only, "Callse" shall mean  (i) ernbezzlement by the Employee, (ii) misappropriation by the Employee of funds of the  Company, (iii) conviction of a felony, (iv) cornmission of any otiier act of dishopesty  which causes material economic harm to the Company, (v) acts of fraud or deceit by the  Employee which causes material economic hann to the Company, (vi) material breach of any provision of this Agreement by the Employee, (vii) willful failure by the Ernployee to substantially perform such Employee's duties hereunder, (viii) willful breach of fiduciary d$y  by the Employee to the Cornpany involving personal profit or (ix) significant violation                                                                 -Ernployee  of Cornpany  policy of which the Ernployee is made aware (or such         shoulcl reasonably be expected to be aware) or other contractual, statutory or comrloll law duties to the Company.               (b)    For ptrrposes of this Agreement only, termination for "Goocl Reason" shall mean termination by the Employee if (A) one of the foliowing events occurs: (i) a material diminution in the responsibilities, title, or authority of the Ekployee, (ii) a rnaterial reduction in salary of the Employee, or (iii) relocation of the Employee to Company  office more than 50 miles from the Company's office in Centennial, -olor.ado; (B) Employee notifies the Cornpany in writing detailing and explaining the occurrence of a Good Reason  event under subsection (A), Ernptoyee's desirecl curc and cure period.                                         1t  Doc#: US I :1 2294394v4 

 

  Employee's intention to terminate his employment due to Good Reason within 90 days of   its occurrence and the date on which Employee intends to terminate his employment (which   must be no later than 180 days after the occurrence of the Good Reason event); and (C) the   Company faiis to remove or cure the Good Reason condition within 90 days of such written   notification.                 (c)    For purposes of this Agreement only, "Termination" shall mean a   termination ofthe Employee's employment by the Company without Cause (and other than   due to death or disability) or by the Employee for Good Reason.                 Section 5.   Wittrhoiding Taxes, AII amounts payable hereunder shall be   subject to and paid net of all required withholding taxes.                 Section 6,   Complianse with Section 409,4.: 280G,                 (a)   It is intended that the payments and benefits provided under Section  3 of this Addendum   shall be exempt from or compliant with the application of the  requirements of Section 409,{ ("Section 409A") of the Internal Revenue Code of 1986, as  amended  (the "Coc!g"). This Addendum shall be construed, administered, and governed in  a manner that effects such intent, and the Company shall not take any action that would be  inconsistent wi& such intent. Specifically, any severance benefits payable pursuant to  Section 3 above, to the extent they are required to be paid, and are actually or constructively  received, during the period from the date on which the Ernployee's employment with the  Company  terminates through March 15 of the calendar year following sueh termination,  are intended to constitute separate payments for purposes of Section 4094. and thus be  exempt from application of Section 409A by reason of the "short-term deferral" rule. To  the extent payments are required to be paid commencing after that date, they are intended  to constitute separate payments that are exempt fi'om the application of Section 409,{ by  reasou of the exceptions under Sections 1.409A-l(bxgxiii) or 1.409A-1(b)(9Xv) of the  Treasury Regulations, as applicable, to the maximum extent permitted by those provisions.  In no event whatsoever shall the Company or any of its affiliates be liable for any additional  tax, interest, or penalties that may be imposed on the Employee as a result of Section 409A  or any damages for failing to comply with Section 4094.                (b)    Notwithstanding anything to the contrary in this Agreement, if the  Employee  is a "specified employee," as determined under the Company's policy for  determining specified employees on the date on which the Employee's  employment  terminates, all payments or benefits provided hereunder that for any reason constitute a  "deferal of compensation" within the meaning of Section 4094, that are provided upon a  "separation from service" within the meaning of Section 409A and that would otherwise  be paid or provided during the first six months following such date of termination, shall  instead be accumulated through and paid or provided (without interest) on the first business  day following the six (6) month anniversary of such date of termination, Notwithstanding the foregoing, payments delayed pursuant to this Section 6ft) shall commence within I0 calendar days following the Employee's death prior to the end of the six month period, Reimbursement  of any eligible expenses shall be made in accordance with the Company's policies and practices and as otherwise provided herein, ry[1fud, that, in no event shall                                         12  Docll: USI:12294394v4 

 

  reimbursement be made after the last day of the year following the year in which the   expense was incurred. The right to reimbursement is not subject to liquidation or exchange   for another benefit' The amount of expenses reimbursed in on. y.u, shall not affect the   amount eligible for reimbursentent in any subsequent year. The amount of any in-kild   benefits provided in one year shall not affect the amount of in-kind benefits provided in   any other year.                 (c)    If any amounts  or benefits to be paid or provided under this   Agreeurent or otherwise would cause payments or benefits (or other compensation) to not   be fully deductible by the Company for federal income tax puqposes beiause of Section   280G of the Code, or any successor provision thereto (or that would subject the Employee   to the excise tax imposed by Section 4999 of the Code, or arly successor provision thereio),   such payments aud benefits (and other compensation) will be reduced to the extent   necessary such that no portion of such payrnents or benefits (or other compensation) will   be subject to the excise tax imposed by Section 4999 of the Code, or any successor   provision thereto; provided, that such a reduction will be made only if, by reason of such   reduction, the Employee's net after-tax benefit exceeds the nei afler-tax benefit the   Ernployee would realize if such leduction were not made. The determination of whether   any such payments or benefits to be provided under this Agreernent or otherwise would   not be so deductible (or whether the Employee would be subject to snch excise tax) shall  be made by a firm of inriependent accountants or a law firm selected by the Board. If such  payments  are reduced pursuant to tlie foregoing, they will be reduced in the followilg  order: first, by reducing any cash severance payments and then by reducing any other  payments  and benefits due to the Employee that constitute a "parachute payment" for  purposes of Section 280G of the Code, with any cash payments being reducid first before  any non-cash payments in inverse order from the last date of payment and all amourts that  are not subject to calculation under Treas. Reg.$1.2g0G-1, e&A-24(b) or (c) being  reduced before any                     amoullts that are subject to calculation under Treas. Reg. $1,280G-a  Q&A-24(b) or (c). Notwithstanding the foregoing, to the extent the parties agree that any  of the foregoing amounts are not parachute payments, such amounts ihall not be reducecl.                                          13  Doc#: USI:12294394v4Exhibit

EXHIBIT 10.1

SEVERANCE AND RELEASE AGREEMENT
(Officer Name)

This is Severance and Release Agreement (the "Agreement") entered into by and between Laredo Petroleum, Inc. ("Laredo") and you, ________________ and shall become effective on the eighth (8th) day following your execution and delivery of this Agreement if not earlier revoked by you (the "Effective Date").

As a result of a reduction-in-force, your employment has ended effective as of the Termination Date and in exchange for your execution and compliance with the terms of this Agreement, Laredo will provide you with the Severance Amount described below. As consideration for receiving the Severance Amount, you are agreeing to refrain from certain activities and release the claims described in this Agreement.

1.    Separation from Employment.  Your employment with Laredo terminated effective ________, 2019 (the "Termination Date").

2.    Consideration for Signing.  In exchange for your execution and delivery of this Agreement without revocation, Laredo will make the payments and contributions listed on Schedule “A” to this Agreement (the “Severance Amount”). In order to receive the Severance Amount you must (i) sign and return this Agreement to Laredo within forty-five (45) days from the date you receive the Agreement, and (ii) not revoke the Agreement within the seven (7) days immediately following your delivery of the executed Agreement to Laredo. You should not sign and Laredo will not accept your signed Agreement while you are still employed by Laredo. The Severance Amount (other than the portion attributable to COBRA premiums) will be paid as soon as administratively feasible but no sooner than 10 days following your unrevoked execution and delivery of this Agreement to Laredo, and no later than June 21, 2019. The Severance Amount will be subject to normal deductions, including applicable taxes and Social Security payments. Any non-cash portion of the Severance Amount will be reported to the taxing authorities in a manner recommended by Laredo’s tax advisors. By signing this Agreement, you acknowledge that the Severance Amount is of value to you and is an unearned benefit to which you are not otherwise entitled. 

3.    Additional Pay and Benefits. 

(a)You will receive the following payments on Laredo’s next regular payday following the Termination Date, or such later date as permitted by law: (i) compensation for all hours worked through the Termination Date, (ii) 100% of any roll-over from a previous year and accrued, unused vacation hours on a pro-rata basis according to the number of months worked during the current year, and (iii) the “Additional Compensation and Benefits” listed on Schedule “B”. The Additional Compensation will be paid in a method and manner which is deemed administratively feasible and may include equal instalment payments on Laredo’s regular paydays. You will receive the payments and benefits described in this subparagraph 3(a) even if you chose not to sign this Agreement or if you sign and revoke this Agreement according to its terms.

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(b)By signing this Agreement, (i) you are agreeing that, other than pay for hours worked since your last pay period and any accrued but unused vacation that you may be entitled under Laredo’s policies, you have been paid all compensation due to you as a result of your employment, and (ii) you acknowledge that you will not receive any benefits or payments from Laredo other than the payments described in this Paragraph 3 and the payments described in Paragraph 2 above. By signing this Agreement, you do not release or discharge any right to any vested, deferred benefit in any qualified employee benefit plan which provides for retirement, pension, savings, thrift and/or employee stock ownership or any benefit due you as a participant in any employee health and welfare plan, as such terms are used under ERISA, which is maintained by Laredo. If eligible, you will receive information permitting you to continue certain health benefits under COBRA.

4.    Waiver, Release of Claims and Covenant Not to Sue.  By signing this Agreement, you are agreeing that the Severance Amount is adequate consideration for the release of the claims described in this Agreement. You are further covenanting, agreeing, representing and warranting that you have not assigned or transferred, or purported to assign or transfer, to any person or entity, any claim described herein or any portion thereof or interest therein and acknowledge that this Agreement shall be binding upon you and upon your heirs, administrators, representatives, executors, successors, and assigns, and shall inure to the benefit of each of the Released Parties (as defined below), and to their heirs, administrators, representatives, executors, successors, and assigns. You hereby agree to release Laredo and each of its past and present affiliated entities, parent companies, subsidiary companies, joint ventures, predecessors, successors, assigns and the shareholders, officers, directors, partners, agents, employees, insurers, heirs and attorneys of such entities or individuals (“Released Parties”) from any and all known and unknown existing or potential claims, rights, liabilities, torts, damages, injuries, and causes of action which arise directly or indirectly from any acts, conduct, agreements or occurrences in connection with your termination from Laredo and/or other claims against Laredo arising prior to the date of this Agreement. By releasing claims, you are giving up your opportunity to file a lawsuit or seek a trial by jury with respect to claims you may have against Laredo and the Released Parties.

This release extends to but is not limited to claims you may have for breach of contract, wrongful discharge, constructive wrongful discharge, breach of the implied covenant of good faith and fair dealing, negligence, breach of fiduciary duty, intentional or negligent infliction of emotional distress, fraud, misrepresentation, defamation, violation of the right of privacy, loss of consortium, intentional or negligent interference with prospective economic advantage, intentional or negligent interference with contract, negligent retention, personal injury, any tort, injunctive relief, and attorneys’ fees and any alleged violation of:

		
	•
	Title VII of the Civil Rights Act of 1964, The Civil Rights Act of 1991, including any and all claims arising under state laws related to civil rights or discrimination, and The Civil Rights Act of 1866 and Sections 1981 through 1988 of Title 42 of the United States Code; all of which prohibit discrimination based upon race, color, national origin, religion, sex.

		
	•
	The Employee Retirement Income Security Act of 1974 (“ERISA”) which protects certain employee benefits (except that the parties agree that by signing this Agreement, you do not waive rights under any claim for benefits that was or may have been filed prior to your execution of this Agreement);

2

		
	•
	The Immigration Reform and Control Act; 

		
	•
	The Americans with Disabilities Act of 1990 and The Rehabilitation Act of 1973, which prohibit discrimination against the disabled;

		
	•
	The Workers Adjustment and Retraining Notification Act, which require advance notice to be given of certain workforce reductions;

		
	•
	The Fair Credit Reporting Act, which controls the use of certain information obtained from third parties;

		
	•
	The Occupational Safety and Health Act of 1970, 29 United States Code § 651 et seq., which regulates workplace safety;

		
	•
	The Family and Medical Leave Act, which requires that employers grant leaves of absence under certain circumstances;

		
	•
	The Age Discrimination in Employment Act of 1967, as amended, which prohibits discrimination based upon age;

		
	•
	Any claim under the regulations of the Office of Federal Contract Compliance Programs (41 Code of Federal Regulations § 60 et seq.);

		
	•
	The Fair Labor Standards Act, 29 United States Code § 201 et seq., which regulates wages and hours;

		
	•
	The National Labor Relations Act, 29 United States Code § 151 et seq., which protects the right of employees to organize and bargain collectively with their employer and to engage in other protected, concerted activity; and

		
	•
	The Equal Pay Act, which prohibits pay discrimination based upon gender.

		
	•
	To the extent California law may apply to this Agreement, you hereby expressly waive the provisions of Section 1542 of the California Civil Code, which states: “a general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”

     You are also waiving and releasing:  
		
	•
	any claim for wages or benefits not otherwise provided for in this Agreement; 

		
	•
	any claim for wrongful discharge for refusal to commit an act prohibited by law or public policy;

		
	•
	any claim for intolerable working conditions or for any other reason; any claim pursuant to state or federal laws protecting against “retaliation” or “whistle-blowing”; 

		
	•
	any claim arising: (1) by reason of your employment with Laredo or the termination of your employment or the circumstances related to the termination; or (2) by reason of any other matter, cause, or thing whatsoever, from the first date of employment to the Termination Date of this Agreement;

		
	•
	any claim arising under the labor codes of the state in which you work and reside; 

		
	•
	any claims for violation of  the civil rights and fair employment laws of all states; 

		
	•
	any claims arising under the family and medical leave laws of the state in which you work or reside; and

		
	•
	all claims that may lawfully be released.

3

Notwithstanding the foregoing, you and Laredo agree that this release does not apply to any claims you may have for workers’ compensation benefits, unemployment insurance or as provided by state law as well as any other claims that cannot lawfully be released. This Agreement does not release or discharge any claim or rights which might arise out of Laredo’s actions after the Termination Date or with respect to Laredo’s obligations under this Agreement.

This release, however, does not waive any rights or claims that may arise after you sign this Agreement. You agree not to sue or join in any suit against Laredo for any claim relating to or arising out of your employment or your separation from employment with Laredo provided, however, that nothing will preclude you from (a) bringing a lawsuit or proceeding against the Laredo to enforce Laredo’s obligations under this Agreement or to challenge the enforceability of the release under the Older Worker Benefit Protection Act, (b) filing a complaint with, providing information to or testifying or otherwise assisting in any investigation or proceeding brought by any state, federal or local regulatory or law enforcement agency or legislative body or (c) filing any claims that are not permitted to be waived or released under applicable law. However, you waive your right to receive any relief (legal or equitable) based on any charge, complaint or lawsuit against Laredo filed by you or anyone else on your behalf. 

5.    Release of Claims Related to Age.    
        
(a)    The ADEA. The Age Discrimination in Employment Act of 1967 ("ADEA") is a federal statute prohibiting discrimination on the basis of age in connection with employment, benefits and benefit plans. Your signature on this Agreement is your acknowledgement that you understand you are waiving, releasing and forever giving up any claims under the ADEA as well as all other claims that you may have against the Released Parties at the time you sign this Agreement. More than one employee is eligible for benefits under this or a similar agreement. The positions and ages of those separating employment and being offered this arrangement are listed in Schedule “C”. The positions and ages of those not being terminated or reassigned and not offered these benefits are also listed in Schedule “C”.
 
(b)    Opportunity to Consider Agreement and Consult Counsel. You are advised to consult with an attorney prior to signing this Agreement. By signing this agreement you hereby acknowledge, understand and affirm that:

		
	•
	This Agreement is a binding legal document;

		
	•
	You are voluntarily signing and entering into this Agreement without reservation after having given the matter full and careful consideration;

		
	•
	You have been provided with information relating to the job positions and ages of employees selected as well as the job positions and ages of those employees who will remain employed and will not receive severance payments. The information is attached to this Agreement as Schedule "C".  

		
	•
	You have considered the advice of your advisors in reaching the decision to execute this Agreement; 

		
	•
	You have been advised to consult with an attorney before signing this Agreement.

		
	•
	You have been provided forty-five (45) days during which you may consider whether to sign this Agreement. If you elect to sign this Agreement before the end of the forty-

4

five (45) day review period, you do so knowingly, willingly and on the advice of counsel, with full understanding that you are waiving a statutory right to consider this Agreement for the entire forty-five (45) days; and 
		
	•
	You warrant that after careful review and study of this Agreement, you understand that the terms set forth herein are those actually agreed upon.

(c)    Revocation Period. You acknowledge and understand that you have seven (7) days from your execution and delivery of this Agreement to Laredo (which shall not occur prior to the Termination Date) in which to revoke or rescind this Agreement by delivering a signed and dated notice of revocation to the Laredo. After the expiration of such seven (7) day period, this Agreement will become effective and enforceable.

6.      Confidential Information and Statements Concerning Released Parties.

(a)You shall keep confidential the existence of this Agreement, its terms, contents, conditions, proceedings and negotiations, and you will make no statements (public or private) or representations relating to the Agreement, except to your attorney or tax advisor, your spouse, or as may otherwise be allowed or required by law. You further acknowledge your continuing obligation to maintain confidentiality of Released Parties' confidential and proprietary information and you shall not use for your personal benefit, or disclose, communicate or divulge to, or use for the direct or indirect benefit of any person, firm, association or company other than the Released Parties any confidential information regarding the employees, business methods, business strategies and plans, policies, procedures, techniques, research or development projects or results, trade secrets, or other knowledge or processes of or developed by the Released Parties, or any other confidential information relating to or dealing with the business operations, employees or activities of Released Parties, made known to you or learned or acquired by you while employed by Laredo. Nothing in this Agreement shall be construed to prevent disclosure of confidential information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. You agree to promptly provide written notice of any such order to a Laredo officer. Notwithstanding any other provision of this Agreement you will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made: (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document that is filed under seal in a lawsuit or other proceeding.

(b)You hereby agree to refrain from making any statement about Laredo and/or the Released Parties that could harm or cause such entities or individuals to be portrayed in a false light or be interpreted as detrimental or harmful to their interests.  

(c)By signing this Agreement you are affirming that you understand and agree that this Paragraph 6 and all its subparts is a separate agreement, the breach of which will constitute a material breach of this Agreement. If you breach any of the terms of this paragraph, Laredo shall have the right to recover all costs and expenses, including reasonable attorney’s fees incurred in enforcing its terms and/or recovering damages as a result of any breach.

5

(d)You further represent to Laredo that you have not engaged in the prohibited activity described above up to and including the date you execute this Agreement.    

7.    Cooperation.  To the extent reasonably requested by Laredo you agree to cooperate in connection with matters arising out of your employment with Laredo; provided that, Laredo shall make reasonable efforts to minimize disruption of your other activities. Laredo agrees to reimburse you for reasonable preapproved expenses incurred in connection with such cooperation and, to the extent that Laredo requests that you spend substantial time on such matters, Laredo shall compensate you at an hourly rate calculated using your base pay rate as of the Termination Date.

8.    Severability.  If any provision of this Agreement is held invalid or unenforceable, either in its entirety or by virtue of its scope or application to given circumstances, the provision shall be deemed modified to the extent necessary to render it valid or inapplicable to given circumstances, as the situation may require, and this Agreement shall be construed and enforced as if such provision had been included herein as so modified in scope or application or had not been included herein, as the case may be. 
        
9.    No Admission of Liability.  Both you and Laredo agree that the payment of the amounts set forth in this Agreement do not constitute an admission of liability or violation of any applicable law, contract provision or any rule or regulation.

10.    Employment Inquiries.  Laredo’s or the Released Parties’ refusal or failure to respond to future inquiries concerning your employment with Laredo shall not be the basis of any claim by you against Laredo or the Released Parties.

11.    Entire Agreement.  You agree that this Agreement is the only and the complete agreement between you and Laredo concerning your termination of employment, and that Laredo has made no other representations or promises concerning your employment and/or your termination of employment.  Further, to the extent any prior statements or representations were made concerning your employment and/or your termination of employment, they are hereby integrated into this Agreement and any contrary statements are superseded by this Agreement.  Provided, any prior policies or agreements concerning the confidentiality of certain or all of Laredo’s information shall remain in full force and effect for all time, and any reference in this Agreement to confidential information is intended to supplement and not to supersede any prior policy or agreement. 

12.    Waiver. No waiver by either party with respect to any breach or default or of any right or remedy and no course of dealing, shall be deemed to constitute a continuing waiver or any other breach or default or of any other right or remedy, unless such waiver is expressed in writing signed by the party to be bound.  Furthermore, the failure of a party to exercise any right shall not be deemed a waiver of such future right or rights.

6

13.    Remedies. Laredo shall have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that it may have for a breach of this Agreement.
    
14.    Interpretation under State Law.  This Agreement shall be construed under the laws of the State of Oklahoma and shall in all respects be interpreted, enforced, and governed under the law of said State without reference to the conflicts of laws provisions. Any litigation concerning this Agreement or the facts or matters described herein shall be brought only in a court of competent jurisdiction in Tulsa County, Tulsa, Oklahoma, and the parties hereby waive personal jurisdiction and any objections to venue.

YOU HEREBY STATE THAT YOU HAVE CAREFULLY READ THIS DOCUMENT AND KNOW AND UNDERSTAND THE CONTENTS HEREOF AND THAT YOU ARE SIGNING THIS AGREEMENT AS YOUR OWN FREE ACT AND DEED. UNLESS OTHERWISE REVOKED AS PROVIDED HEREIN, THE PROVISIONS OF THIS AGREEMENT SHALL BE EFFECTIVE ON THE EIGHTH (8TH) DAY FOLLOWING THE DATE ON WHICH YOU DELIVER THIS SIGNED AGREEMENT TO LAREDO.
 

Laredo Petroleum, Inc.

By:                              

Print Name:                     

Title:                         
                        
Date:                         

[Name]                                                
Signature:                     
                        
Print Name:                     
                        
Date:                 

7

	
			
	SCHEDULE “A”
(Agreement, Paragraph 2)

SEVERANCE AMOUNT

Payment of the Severance Pay, Additional Severance Payment and Supplemental COBRA Premium Contributions are subject to the unrevoked execution of the Severance and Release Agreement.

	Severance Pay
	An amount equal to 70 weeks of pay. 
((Annual Base Salary ÷ 52) x 70)
	$

	Additional Severance  Payment
	An amount derived from estimated current values of forfeited restricted stock, performance shares and incentives payments. As of the Termination Date all such benefits are forfeited under applicable plans and programs. Nothing contained in this Agreement (or related correspondence) shall be interpreted to amend such plans or programs and shall not create additional rights under such plans or programs.
	$

	TOTAL CASH PAYMENT
(Severance Pay and Additional Severance Payment)
	To be paid in a lump sum and subject to withholding as required by law.
	$

	Supplemental COBRA Premium Contributions
	Subject to COBRA Eligibility and Election: 
16 months of Employer contributions beyond June 30, 2019. 
	The value of Laredo’s premium contribution is dependent upon your coverage election.

8

	
			
	SCHEDULE “B”

ADDITIONAL COMPENSATION AND BENEFITS

Execution of the Severance and Release Agreement is not required in order for   you to receive the Additional Compensation and Initial COBRA Premium Contributions

	Additional Compensation
	

8 weeks of pay at employee’s base salary.
((Annual Base Salary ÷ 52) x 8)
	$

	Initial COBRA Premium Contributions
	Employer contributions through June 30, 2019.
	The value of Laredo’s premium contribution      is dependent upon your coverage election.

9

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