Document:

Exhibit 10.1

Massachusetts
 Association
Of Realtors 

 

STANDARD
LAND PURCHASE AND SALE AGREEMENT 

 

The
parties make this Agreement this day
of
  8/13/2013
This Agreement supersedes and replaces all obligations made in any prior Contract To Purchase
or agreement
for sale entered into by the parties

 

1, Parties

 

The Mazzal Trust
.. the "SELLER,"
agrees to sell to Boston investment
and development Corp. the BUYER," agrees
to buy, the premises described in paragraph 2 on the terms set forth below. BUYER may require the conveyance to be made to another
person or entity ("Nominee") upon notification in writing to SELLER at least five business days prior to the date for
performance set forth in paragraph 5. Designation of a
Nominee shall not discharge the BUYER from any obligation
under this Agreement and BUYER hereby agrees to guarantee performance by the Nominee. 

 

2. Description
Of Premises. The premises (the "Premises")
consist of: 

 

(a)
the land with any and all buildings
thereon known as 171 Hart St Taunton MA 02780

 

 

3. Attached; and 

(b) all structures,
and improvements on the land and the fixtures, The
land in Taunton, Bristol County, Massachusetts, on the southerly side of Hart Street and being Lot 2 as shown on a plan of land
entitled “Plan of Land in Taunton, Massachusetts, owned by Gloria S. Paolella, scale 1’ = 100 feet dated August 30,
1995, rev. 9/07/1995, by Haywood-Boynton and Williams, Inc. surveyors civil engineers, 60 Court Street, Taunton, MA, which plan
is recorded with the Bristol County Northern District Registry of Deeds in Plan Book 349 Page 31, and to which plan reference is
hereby made for a more particular description of said premises.

 

$
1,500,000
one and half million Boston investment and development Corp. shares) 

 

 

 

 

4. Escrow
.All funds ,deposited
or paid by the BUYER
shall be held in a non-interest bearing escrow 

account,
as escrow agent, subject
to the 

 

 

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BUYER’S
Initials SELLER’S Initials

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

 

 

 

 

 

 

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terms
of this Agreement and shall be
paid or otherwise duly accounted for at the time for performance. If
a dispute arises between the BUYER and SELLER concerning to whom escrowed funds should be paid, the escrow agent may retain all
escrowed funds pending written instructions
mutually given by the
BUYER and the SELLER. The
escrow agent shall abide by any Court decision concerning to whom the funds shall be paid and shall not be made a party to a lawsuit
solely as a result of holding escrowed funds. Should
the escrow agent be made a party
in violation of this paragraph, the escrow agent shall be dismissed and the party asserting a claim against the escrow agent shall
pay the agent's reasonable attorneys' fees and costs. [If interest Is
to accrue on escrowed funds, Indicate to whom It shall be paid.} 

 

5.
Time For Performance.
The SELLER shall deliver the deed and the BUYER shall pay the
balance of the purchase
price at 4PM o'clock. on the 12  day
of May / 31 / 2013
at the Registry
of Deeds,
or at such other time
and place
as is mutually agreed in
writing. TIME IS
OF THE ESSENCE AS TO EACH PROVISION OF THIS AGREEMENT. Unless the deed and other documents required by this Agreement are
recorded at the
time for performance, all documents and funds are to be held in escrow, pending prompt rundown of the title and recording (or
registration in the case of registered land). SELLER'S
attorney or other escrow agent shall disburse funds the next business day following the date for performance, provided that
the recording attorney has not reported a problem outside the recording attorney's
control. 

 

6.
Title/Plans.
The SELLER shall convey the Premises by a good and sufficient quitclaim
deed running to the BUYER or to the BUYER'S nominee, conveying good and clear record and marketable title to the Premises, free
from liens and encumbrances, except:

 

(a) Real estate taxes assessed on
the Premises which are not yet due and payable;

(b) Betterment assessments,
if any, which are not a recorded lien on the date of this Agreement;

(c) Federal, state and
local laws, ordinances, bylaws, rules and regulations regulating
use of land, including building codes, zoning bylaws, health and environmental laws; 

(d) Rights and obligations in party
walls;

(e) Any easement,
restriction or agreement of record presently in force which does not interfere with the reasonable
use of the Premises as now used; 

(f) Utility easements in the adjoining
ways;

(g) Matters that would be disclosed
by an accurate survey of the Premises; and

(h) _________________________________________________________________________________________

[Insert In (h) references to any
other easement, restriction, lease or encumbrance which may continue after title Is transferred) 

 

If
the deed refers to a plan needed to be recorded with it,
at the time for perform
once the SELLER shall deliver the plan with the deed in proper form for recording or registration.

 

7. Title Insurance.
BUYER'S obligations are contingent upon the availability (at normal premium rates) of an owner's
title insurance policy insuring BUYER'S title to the premises without exceptions other than the standard exclusions from coverage
printed in the current American Land Title Association
("AL TAn) policy cover, the standard printed exceptions
contained in the ALTA form currently in use for survey matters and real estate taxes (which shall
only except real estate taxes not yet due and payable) and those exceptions permitted by paragraph 6 of this Agreement.

 

8. Closing
Certifications and Documents.
The SELLER shall execute and deliver simultaneously with the delivery of the deed such certifications and documents as may customarily
and reasonably be required by the

 

 

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BUYER’S
Initials SELLER’S Initials

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

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BUYER'S attorney,
BUYER'S lender, BUYER'S lender's attorney or any title insurance company insuring the BUYER'S
title to the Premises, in duding, without limitation, certifications and documents relating to: (a) parties in possession of the
premises; (b) the creation of mechanics' or material men’s
liens; and SELLER'S satisfaction of requirements concerning UFFI imposed upon residential sellers by statute and applicable regulations;
(c) the HUD-1 Settlement Statement and other financial affidavits and agreements as may reasonably be required by the lender or
lender's attorney; (d) the citizenship and residency of SELLER as required by law; and (e) information
required to permit the closing
agent to report the transaction to the Internal Revenue Service. At the time of delivery of the deed, the SELLER may use monies
from the purchase to clear the title, provided that all documents related thereto are recorded with the deed or within a reasonable
time thereafter acceptable to the BUYER and, provided further, that discharges of mortgages from banks, credit unions, insurance
companies and other institutional lenders may be recorded within a reasonable time after recording of the deed in accordance with
usual convincing practices. The SELLER'S spouse hereby
agrees to release all statutory, common law or other rights or interest in the Premises and to execute the deed, if necessary.

 

9.
Possession And Condition Of Premises.
At the time for performance the SELLER shall give the BUYER possession of the entire Premises,
free of all occupants and tenants and of all personal property, except property induced in the sale or tenants permitted to remain.
At the time for performance the Premises also shall comply with the requirements of paragraph
6, and be broom dean and in the same condition as the Premises now are, reasonable wear and tear excepted, with the SELLER to have
performed all maintenance customarily undertaken by the SELLER between the date of this Agreement and the time for performance,
and there shall be no outstanding notices of violation
of any building, zoning, health or environmental law, bylaw, code or regulation, except as agreed.
The BUYER shall have the right to enter the Premises within forty-eight (48) hours prior to
the time for performance or such other time as may be agreed and upon reasonable notice to SELLER for the purpose of determining
compliance with this paragraph. At the time of recording of the deed, or as otherwise agreed, the SELLER shall deliver to BUYER
all keys to the Premises, garage door openers and any security codes. Until delivery of the deed, the SELLER shall maintain fire
and extended coverage insurance on the Premises in the same amount as currently insured. 

 

10.
Extension Of Time For Performance. If the SELLER cannot convey title as required by this Agreement or cannot deliver
possession of the Premises as agreed, or if at the time of the delivery of the deed the Premises do not conform with the requirements
set forth in this Agreement or the BUYER is
unable to obtain title insurance in accordance with paragraph 7, upon written notice given no later than the time for performance
from either party to the other, the time for performance shall be automatically extended for thirty (30) days, except that if BUYER'S
mortgage commitment expires or the terms will materially and adversely change in fewer than thirty (30) days, the time for performance
set forth in paragraph 5 shall be extended to one business day before expiration of the mortgage commitment.
SELLER shall use
reasonable efforts to make title conform or to deliver possession as agreed, or to make the Premises conform to the requirements
of this Agreement. Excluding discharge of mortgages and liens, about which the SELLER has actual knowledge at the time of signing
this Agreement, the
SELLER shall not
be required to incur costs or expenses totaling in excess of one-half
(Y2) of
one percent of the purchase price to make the title or the Premises conform or to deliver possession as agreed.
If at the expiration of the time for performance,
or if there has been an extension, at the expiration of the time for performance as extended, the SELLER, despite reasonable efforts,
cannot make the title or Premises conform, as agreed, or cannot deliver possession, as agreed, or if during the period of this
Agreement or any extension thereof, the SELLER has been unable to use proceeds from an insurance
claim, if any, to make the Premises conform, then, at the BUYER'S election, 

 

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BUYER’S
Initials SELLER’S Initials

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

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any payments made by
the BUYER pursuant to this
Agreement shall be immediately returned.
Upon return
of all such funds, all obligations
of the BUYER and SELLER shall terminate and this Agreement
shall automatically
become void and neither the BUYER nor SELLER shall have
further recourse or remedy against the other. 

 

11.
Nonconformance
Of Premises.
If the Premises
do not
conform to the requirements
of paragraph 9 because they have been
damaged by fire or
other casualty (occurring after the date of this Agreement)
that is covered by insurance,
then the BUYER shall have the right to elect whether or not to proceed to accept the Premises
and take title. If BUYER elects to proceed BUYER shall have
the right to elect to have the SELLER payer
assign to
the BUYER,
at the time for performance, the
proceeds recoverable on account of such insurance,
less any cost
reasonably incurred
by the SELLER
for any incomplete repairs
or restoration. If the SELLER,
despite reasonable efforts, has
neither been able to restore the Premises to its former
condition nor to payor assign to the BUYER the appropriate
portion of insurance proceeds, the BUYER shall have the
right to
elect to
have the SELLER
give the BUYER a credit toward
the purchase
price, for the appropriate amount of
insurance proceeds recoverable
less any costs reasonably
incurred by the SELLER for
any incomplete restoration.

 

12. Acceptance
Of Deed. The BUYER shall
have the right
to accept such title to the Premises
as the SELLER can
deliver at
the time for
performance
and if extended, shall have
such right at the time
for performance, as
extended. The BUYER shall also have the right to
accept the Premises in the then current condition and
to pay the purchase price without reduction
of price. Upon notice in writing of BUYER'S decision
to accept the Premises and title, the
SELLER shall convey
title and deliver possession. Acceptance of
a deed by the
BUYER or
BUYER'S nominee, if any, shall
constitute full
performance by the
SELLER and shall be
deemed to release and discharge the SELLER from every
duty and obligation set forth in this Agreement, except
any duty or obligation of the SELLER that the SELLER has agreed to perform after the time
for performance.
Notwithstanding
the foregoing, the
warranties, if any, made
by the SELLER shall survive
delivery of the deed. 

 

13. Adjustments. At
the time for performance of this Agreement
adjustments shall be made as of the date of performance for current real
estate taxes, fuel
value, water
rates, sewer
use charges, collected
rents, uncollected rents (if
and when collected
by either
party), security
deposits, prepaid premiums
on insurance
if assigned.
The net total of such
adjustments
shall be added to or deducted
from the purchase price payable
by the BUYER at the
time for performance. If the
real estate tax rate or assessment has not been established at the time for performance, apportionment of real
estate
taxes shall be made on the basis of the tax for the most
recent
tax year with either party having the
right to
request apportionment from
the other
within twelve
months
of the date that the
amount of
the current
year's tax is established. {If tenants
will continue to occupy
the Premises,
use of the Rental Properly
Addendum to Purchase And Sale Agreement
should be considered.} 

 

14.
Acknowledgment
Of Fee
Due Broker. The SELLER and BUYER
acknowledge
that a fee of 2%
for professional
services
shall be paid by the SELLER
to KELLER WILLIAMS REALTY,'
the "BROKER",
at the time for performance.
In the event of a
conflict between the terms of this Agreement and a prior
fee agreement with BROKER,
the terms
of the prior fee
agreement shall
control unless BROKER
has expressly
agreed to a change
in Writing. The BUYER
and SELLER acknowledge
receipt of a notice
from BROKER,
pursuant to 254 of the Code
of Massachusetts Regulations Section 3.0 (13), regarding
any agency 

 

 

 

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BUYER’S
Initials SELLER’S Initials

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

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relationship
of the BROKER with
the BUYER
and/or the SELLER. The BUYER and SELLER understand that ___________________
, [insett name] a real estate broker,
is seeking a fee from rendered
as a seller's
subagent / buyer's
agent / facilitator (non-agent> [choose one). The
BUYER further represents and warrants that there is no other broker with whom BUYER has dealt in connection with the purchase of
the Premises. 

 

15.
Buyer's Default. If
the BUYER or BUYER'S Nominee breaches this Agreement, all escrowed funds paid or deposited by the BUYER shall be paid to the
SELLER as liquidated damages. Receipt of such payment shall constitute the SELLER'S sole remedy, at law, in equity or
otherwise, for BUYER'S default. The BUYER and SELLER
agree that in the event of default by the BUYER the amount of damages suffered by the SELLER will not be easy to ascertain
with certainty and, therefore, BUYER and SELLER agree
that the amount of the BUYER'S deposit represents a reasonable estimate of the damages likely to be suffered. 

 

16.
Buyer's Financing. (Delete If Waived) The BUYER'S obligation to purchase
is conditioned
upon obtaining a written commitment
for mortgage
financing in the amount of $___
at prevailing
rates, terms
and conditions by____________.
The BUYER
shall have
an obligation
to act reasonably diligently to satisfy any condition within
BUYER'S
control.
If,
despite such diligent efforts, the
BUYER has been unable to obtain such written commitment, the BUYER may terminate this Agreement by giving written notice that
is received by SELLER or SELLER'S agent by 5:00
p.m. on the calendar day after the date set forth above.
In the event that notice has not been actually or
constructively received, this
condition is deemed waived. In
the event that due notice has been received, all
monies deposited or paid by the BUYER shall be returned and all obligations of the BUYER and SELLER pursuant to this
Agreement shall cease and this Agreement shall become void. In no event shall the BUYER be deemed to have used reasonable efforts
to obtain financing
unless the BUYER has submitted at least one (1) application to a licensed
mortgage lender by ________________________ and acted reasonably promptly in providing any additional information requested by
the mortgage lender. 

 

17.
Inspections/Survey. (Delete If Waived) The
BUYER'S obligations under this Agreement are subject to the right to obtain inspection(s) of the Premises or any aspect thereof,
including, but not limited to, home, pest, radon, lead paint, septic/sewer, water quality,
and water drainage by consultant(s) regularly in the business of conducting said inspections,
of BUYER'S own choosing, and at BUYER'S sole cost within
__ days after SELLER'S acceptance of this agreement. If the
results are not satisfactory to BUYER, in BUYER'S sole discretion, BUYER shall have the right to give written notice received by
the SELLER or SELLER'S agent by 5:00 p.m. on the calendar day after the date set forth above,
terminating this agreement. Upon
receipt of such notice this agreement shall be void and
all monies deposited by the BUYER shall be returned. Failure to provide timely notice of termination shall constitute a waiver.
In the event that the BUYER does not exercise the right to
have such inspection(s) or to so terminate, the SELLER
and the listing broker are each released from claims relating to the condition of the Premises that the BUYER or the BUYER'S consultants
could reasonably have discovered. The BUYER acknowledges receipt of the Home Inspectors Facts For Consumers brochure prepared by
the Office of Consumer Affairs. 

 

18. Lead
Paint Laws. For premises built before 1978 BUYER acknowledges receipt of the "Department of Public
Health Property Transfer Notification" regarding the Lead Law, acknowledges verbal notification of the possible presence
of lead hazards and the provisions of the Federal and Massachusetts Lead Laws and regulations, including
the right to inspect for dangerous levels of lead. Occupancy
of premises containing dangerous levels of lead by a child under six years of age is prohibited, subject to exceptions
permitted by law. BUYER further acknowledges
that neither the SELLER nor any real estate agent has
made any 

 

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Initials SELLER’S Initials

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

 

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representation,
express or implied, regarding the absence of lead paint or compliance with any lead law, except as set forth in writing.
BUYER assumes full responsibility for compliance
with all laws relating to lead paint removal, if required by law, and related matters (in particular, without limitation, Mass.
G. L.,
c. 111, § 197),
and BUYER assumes full responsibility for all tests, lead paint removal and other costs of compliance.
Pursuant to 40 CMR 745.113(a), the Property Transfer
Notification Certification is attached to this agreement.

 

19. Certificate of Approved
Installation. The SELLER shall equip the residential structure on the Premises with approved smoke detectors
and Carbon Monoxide Detectors and furnish BUYER with Certificate of Approved Installation from the local Fire Department at the
time for performance to the extent required by law as well as any wood stove permit, if any, required by law, regulation or ordinance.

 

20.
Warranties And Representations.
The SELLER represents and warrants that the Premises 
is not served by a septic system or cesspool.
[If yes,
a copy
of the Title 5 Addendum is attached.] The SELLER
further represents that there  is
not  has
no knowledge of
underground storage tank.
The SELLER further represents and
warrants
that SELLER has full authority to enter into this Agreement.
The buyer is not relying upon,
any representation, verbal or written,
from any real estate broker or licensee concerning
legal use. Any reference to the category (single family, multifamily,
residential,
commercial)
or the use of this property in any advertisement or listing sheet, including the number of units,
number of rooms or other classification is not a
representation concerning legal use or compliance with zoning by-laws, building code,
sanitary code or other public or private restrictions
by the broker. The BUYER understands that if this information is important to BUYER, it is the duty of the BUYER to seek advice
from an attorney or written confirmation from the municipality. In addition, the BUYER acknowledges that
there are no warranties or representations made by
the SELLER or any broker on which BUYER relies in making this Offer, except those previously made in writing and the following

 

________________________________________________________________________________________:

{If none, state "none";
ff any listed, indicate by whom the warranty
or representation was made.] 

 

21.
Notices. All notices required or permitted
to be made under this Agreement shall be in writing and delivered in hand, sent by certified mail,
return receipt requested or sent by United States Postal Service overnight Express Mail
or other overnight delivery service, addressed to the BUYER or SELLER or their authorized representative
at the address set forth in this paragraph. Such notice
shall be deemed to have been given upon delivery or, if
sent by certified mail on the date of delivery set forth in the receipt or in the absence of a receipt three business days after
deposited or, if sent by overnight mail or delivery, the next business day after deposit with the overnight mail or delivery service,
whether or not a signature is required. Acceptance of any notice, whether by delivery
or mail, shall be sufficient if accepted or signed by a person
having express or implied authority
to receive same. Notice
shall also be deemed adequate if given in any other form permitted by law. 

 

BUYER:
Boston investment and development Corp. SELLER:
The Mazzal Trust .

675
VFW Park Way # 189 Chestnut Hill MA 02467: Address
 20 Burrage , Rd. Newton , MA 02459 0 

:

 

22. Counterparts
I Facsimiles I Construction Of Agreement.
This Agreement
may be executed in counterparts.
Signatures transmitted by facsimile shall have the effect of original signatures.
This Agreement shall be
construed as a Massachusetts contract; is to take effect
as a sealed

 

 

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©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

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instrument; sets forth
the entire agreement between the parties; is binding upon and is intended to benefit the BUYER and SELLER and each of their respective
heirs, devisees, executors, administrators, successors and assigns; and may be canceled, modified or amended only by a written
agreement executed by both the SELLER and the BUYER. If two or more persons are named as BUYER their obligations are joint and
several. If the SELLER or BUYER is a trust, corporation,
limited liability company or entity whose representative executes this Agreement in a representative
or fiduciary capacity, only the principal or the trust or estate represented shall be bound, and neither the trustee, officer,
shareholder or beneficiary shall be personally liable for
any obligation, express or implied. The captions and any notes are used only as a matter of convenience and are not to be considered
a part of this Agreement and are not to be used in determining the intent of the parties. Any matter or practice which has not
been addressed in this Agreement and which is the Subject of a Title Standard or Practice Standard of
the Massachusetts Conveyances Association at the time for performance shall be governed by
the Title Standard or Practice Standard of the Real Estate Bar Association for Massachusetts formerly known as the Massachusetts
Conveyances Association 

 

..

UPON SIGNING,
THIS DOCUMENT WILL BECOME A LEGALLY BINDING AGREEMENT. IF NOT
UNDERSTOOD, SEEK
ADVICE FROM AN ATTORNEY.

 

 

 

The
Mazzal Trust . the "SELLER,"
 

 

i.e. By: /s/ Mazzal Ilooz
Trustee Tuesday, August 13, 2013

 

 

 

 

Boston
investment and development Corp. the BUYER,"

 

 

By: /s/ Nissim Trabelsi,
as President  Tuesday, August 13, 2013

 

 

 

 

 

MASSFoRMS'"

©
2007
MASSACHUSETTS
ASSOCIATION
OF REALTORS®

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page
7 of 7amwd-081513 8K Ex 10-1

		

			 

		

		
			Exhibit 10.1
		

		
			 
		

		
			SEPARATION AGREEMENT AND RELEASE
		

		
			 
		

		
			            This Separation Agreement and Release (“Agreement”) dated as of August 9, 2013 is made by and between Jonathan Wolk (“Employee”) and American Woodmark Corporation (“Company”) (collectively referred to as the “Parties”):
		

		
			 
		

		
			            WHEREAS, the Parties have previously entered into an employment agreement originally dated as of September 1, 2008 and amended and restated as of May 31, 2013 (the “Employment Agreement”);
		

		
			 
		

		
			            WHEREAS, the Company wishes to accept Employee’s resignation from the Company effective as of August 9, 2013 (the “Termination Date”); and
		

		
			 
		

		
			            WHEREAS, the Parties, and each of them, wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions and demands that the Employee may have against the Company as defined herein, including, but not limited to, any and all claims arising or in any way related to Employee’s employment with, or separation from, the Company.
		

		
			 
		

		
			            NOW THEREFORE, in consideration of the promises made herein, the Parties hereby agree as follows. Capitalized terms used herein and not otherwise defined shall have the meaning given to such terms in the Employment Agreement.  
		

		
			 
		

		
			            1.            Termination of Employment. Employee’s last day of employment with the Company shall be the Termination Date.
		

		
			 
		

		
			            2.            Consideration. Subject to the effectiveness of this Agreement and Employee’s compliance with his obligations under this Agreement, the Company agrees to pay or provide Employee the following amounts, less applicable withholding taxes:
		

		
			 
		

		
			                        (a)            payment of accrued obligations,  consisting of any accrued, unpaid base salary through the Termination Date, any accrued, unused vacation as of the Termination Date, and any incurred, unreimbursed business expenses as of the Termination Date which are reimbursable pursuant to Company policy, to be paid on the Company’s next regular pay date following the Termination Date, as well as payment of Employee’s earned and vested benefits under the Company’s retirement and health and welfare employee benefit plans in accordance with the applicable terms thereof;
		

		
			 
		

		
			                        (b)            cash salary continuation equal to Employee’s annual base salary of $303,880.00, payable over a period of twelve (12) months in accordance with the Company’s regular payroll practices, commencing with the Company’s next regular pay date following the Termination Date; 
		

		
			 
		

		
			                        (c)            if  and to the extent the Employee elects to continue coverage under the Company’s group health, dental and/or visions plans under COBRA, the Company will continue to pay a share of the required monthly COBRA premium for such coverage equal to the Company’s share of the applicable premium paid by similarly-situated active employees for such coverage, for a period of up to twelve (12) months following the end of the month in which the Termination Date occurs, or until the Employee becomes eligible for coverage under another group health plan, if 
		

		

		

		 

		

			-  1  -

		

 

		

			 

		

		earlier, and shall withhold the Employee’s corresponding share (if any) of the required monthly COBRA premium for such coverage from the Employee’s salary continuation payments described in Section 2(a) above; and
		

		
			 
		

		
			                        (d)            accelerated vesting and payment of a pro-rata portion of the Employee’s currently outstanding restricted stock unit awards (“RSUs”), as follows: the vesting of (i) 72.35% of the 6,800 RSUs granted in June 2011, or 4,920 RSUs, (ii) 38.99% of the 6,880 RSUs granted in June 2012, or 2,683 RSUs, and (iii) 5.74% of the 1,550 service-based RSUs granted in June 2013, or 89 RSUs, shall be accelerated as of the Termination Date, with payment of such RSUs occurring on, or as soon as administratively practicable following, the date which is six (6) months following the Termination Date in accordance with the terms of such RSUs. All other RSUs and equity or equity-based awards which the Employee holds as of the Termination Date shall be governed solely by the terms and conditions thereof.
		

		
			 
		

		
			            3.            Restrictive Covenants. Employee shall continue to comply with the restrictive covenants set forth in the Employment Agreement and any other applicable agreement between the Employee and the Company or its affiliates and such provisions, and all other provisions of any such agreement that are intended to survive termination of the Employee’s employment, shall continue in effect following the Termination Date in accordance with their terms.  
		

		
			 
		

		
			            4.            No Other Payments.  Employee acknowledges and agrees that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Employee once the above noted payments and benefits are received. The Company shall have no other obligations to Employee except as described in this Agreement. 
		

		
			 
		

		
			            5.            Taxes.  To the extent any taxes may be due on the payments to Employee provided in this Agreement beyond any withheld by the Company, Employee agrees to pay them himself and to indemnify and hold the Company and other entities released by Employee herein harmless for any tax claims or penalties resulting from such payments. Employee further agrees to provide any and all information pertaining to Employee upon request as reasonably necessary for the Company and other entities released herein to comply with applicable tax laws. Employee agrees and acknowledges that the Employee has not received any advice or representations from the Company or any of its representatives regarding the tax treatment or tax consequences to him of any of the payments hereunder.
		

		
			 
		

		
			            6.            Employee’s Release of Claims.  Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to Employee by the Company and its officers, managers, supervisors, agents, shareholders, subsidiaries and employees.  Employee, on his/her own behalf, and on behalf of his/her respective heirs, family members, executors, agents, and assigns, hereby fully and forever releases the Company and its officers, directors, employees, agents, investors, shareholders, administrators, affiliates, divisions, subsidiaries, predecessors, successors and assigns, from, and agrees not to sue concerning, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess arising from any omissions, acts or facts that have occurred up until and including the Effective Date of this Agreement including, without limitation:
		

		

		

		 

		

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		                        (a)            any and all claims relating to or arising from Employee’s employment relationship with the Company and the termination of that relationship; 
		

		
			
		

		
			                        (b)            any and all claims relating to, or arising from, Employee’s right to receive, or actual receipt of, equity or equity-based awards of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law; 
		

		
			 
		

		
			                        (c)            any and all claims under the law of any jurisdiction including, but not limited to, wrongful discharge of employment; constructive discharge from employment; termination in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion;
		

		
			 
		

		
			                        (d)            any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement Income Security Act of 1974, The Worker Adjustment and Retraining Notification Act, the Older Workers Benefit Protection Act, the Virginia Payment of Wage Law, the Virginia Human Rights Act, and the Virginians with Disabilities Act;
		

		
			 
		

		
			                        (e)            any and all claims for violation of the federal, or any state, constitution, or any county or city ordinance;  
		

		
			 
		

		
			                        (f)            any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;
		

		
			 
		

		
			                        (g)            any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement, under Section 409A of the Internal Revenue Code of 1986, as amended, or otherwise;
		

		
			 
		

		
			                        (h)            any and all claims for attorneys’ fees and costs.
		

		
			 
		

		
			            The Company and Employee agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released. This release does not extend to any obligations incurred under this Agreement. Employee acknowledges and agrees that any breach of any provision of this Agreement shall constitute a material breach of this Agreement and shall entitle the Company immediately to recover the severance benefits provided to Employee under this Agreement.
		

		
			 
		

		
			            7.            Release of Unknown Claims.  To effect a full and complete release as described above, Employee expressly waives and relinquishes all rights and benefits afforded by any state statute that provides that a general release does not extend to claims which the Employee does not
		

		

		

		 

		

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		 know or suspect to exist in his favor at the time of executing the release, and does so understanding and acknowledging the significance of such specific waiver. Employee understands and acknowledges that Employee's waiver extends to all persons and entities defined above.  Thus, notwithstanding the provisions of any such statute, and for the purpose of implementing a full and complete release and discharge of each other, Employee expressly acknowledges that this Agreement is intended to include in its effect, without limitation, all claims not known or suspected to exist in Employee’s favor at the time of signing this Agreement, and that this Agreement contemplates the extinguishment of any such claim or claims which Employee has or may have against the Company. Employee knows of no actions at law or in equity nor administrative proceedings currently pending, which concern allegations based on or related to Employee’s employment with or separation from employment with the Company. In connection with the foregoing, Employee acknowledges, agrees, represents and warrants to Company that at all times relevant to Employee’s employment with the Company, Employee has been fully and properly paid for all time worked and received all required breaks in accordance with state and federal laws, or, there is a genuine, reasonable and good faith dispute between the Parties with respect to the foregoing.
		

		
			 
		

		
			            8.            Acknowledgement of Waiver of Claims Under ADEA.  Employee acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Employee and the Company agree that this waiver and release does not apply to any rights or claims that may arise under ADEA after the date on which Employee has signed this Agreement. Employee acknowledges that the consideration given for this waiver and release Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that he has been advised by this writing that:
		

		
			 
		

		
			                        (a)            he should consult with an attorney prior to executing this Agreement;
		

		
			 
		

		
			                        (b)            he has up to twenty-one (21) days within which to consider this Agreement;
		

		
			 
		

		
			                        (c)            he has seven (7) days following his/her execution of this Agreement to revoke this Agreement;
		

		
			 
		

		
			                        (d)            this Agreement shall not be effective until the revocation period has expired; and,
		

		
			 
		

		
			                        (e)            nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law.
		

		
			 
		

		
			            9.            No Pending or Future Lawsuits.  Employee represents that he/she has no lawsuits, claims, or actions pending in his/her name, or on behalf of any other person or entity, against the Company or any other person or entity referred to herein. Employee also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any other person or entity referred to herein.
		

		

		

		 

		

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		            10.            No Cooperation.  Employee agrees he/she will not act in any manner that might damage the business of the Company. Employee agrees that he will not counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the Company and/or any officer, director, employee, agent, representative, shareholder or attorney of the Company, unless under a subpoena, court order or other legal discovery device to do so. Employee further agrees both to immediately notify the Company upon receipt of any such court order, subpoena, or any legal discovery device, and to furnish, within three (3) business days of its receipt, a copy of such court order, subpoena or legal discovery device to the Company.
		

		
			 
		

		
			            11.            Non-Disparagement.  Employee agrees that during the 12-month period following the Termination Date he will not disparage in any material respect the Company, any of its products or practices, or any of its directors, officers, agents, representatives, stockholders or affiliates, either orally or in writing. 
		

		
			 
		

		
			            12.            No Admission of Liability.  The Parties understand and acknowledge that this Agreement constitutes a compromise and settlement of disputed claims. No action taken by the Parties hereto, or either of them, either previously or in connection with this Agreement shall be deemed or construed to be: (a) an admission of the truth or falsity of any claims heretofore made or (b) an acknowledgment or admission by either Party of any fault or liability whatsoever to the other Party or to any third party.
		

		
			 
		

		
			            13.            No Knowledge of Wrongdoing.  Employee represents that he has no knowledge of any wrongdoing that involves Employee or other present or former Company employees.
		

		
			 
		

		
			            14.            Return of Company Property.  Employee affirms that he has returned all Company equipment and materials received in the course of his employment to the Company, including but not limited to uniforms, keys, tools, vehicles, credit cards, security or access cards, proprietary or confidential information, or any other Company property, including copies, that may be in Employee’s possession.   Employee also represents that he/she has uninstalled any Company software or other items that may have been downloaded on his/her personal computer.
		

		
			 
		

		
			            15.            Arbitration.  The Parties agree that any and all disputes arising out of, or relating to, the terms of this Agreement, their interpretation, and any of the matters herein released, shall be subject to binding individual arbitration in Frederick County, Virginia, before the American Arbitration Association under its National Rules for the Resolution of Employment Disputes. The Parties agree that the prevailing party in any arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award. The Parties agree that the prevailing party in any arbitration shall be awarded its reasonable attorneys’ fees and costs. The Parties hereby agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury. The Parties hereby agree to waive their right to have any dispute between them resolved in any form of class, collective, representative arbitration. This section will not prevent either party from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the Parties and the subject matter of their dispute relating to Employee’s obligations under this Agreement.
		

		

		

		 

		

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		            16.            Authority.  The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that he has the capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.
		

		
			 
		

		
			            17.            No Representations.  Each Party represents that it has had the opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Neither Party has relied upon any representations or statements made by the other Party hereto which are not specifically set forth in this Agreement.
		

		
			 
		

		
			            18.            Severability.  In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, that provision shall be severed and the remainder of this Agreement shall continue in full force and effect without said provision so long as the remaining provisions remain intelligible and continue to reflect the original intent of the Parties.
		

		
			 
		

		
			            19.            Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee concerning the subject matter of this Agreement and Employee’s relationship with the Company, and supersedes and replaces any and all prior agreements and understandings between the Parties concerning the subject matter of this Agreement and Employee’s relationship with the Company, including the Employment Agreement (other than with respect to those provisions of the Employment Agreement specifically referenced herein). Any modification or amendment of this Agreement, or additional obligation assumed by either Party in connection with this Agreement, shall be effective only if placed in writing and signed by both Parties or by authorized representatives of each Party.
		

		
			
		

		
			            20.            No Waiver.  The failure of any Party to insist upon the performance of any of the terms and conditions in this Agreement, or the failure to prosecute any breach of any of the terms and conditions of this Agreement, shall not be construed thereafter as a waiver of any such terms or conditions. This entire Agreement shall remain in full force and effect as if no such forbearance or failure of performance had occurred.
		

		
			 
		

		
			            21.            Governing Law.  This Agreement shall be construed, interpreted, governed, and enforced in accordance with the laws of the Commonwealth of Virginia, without regard to conflict of law principles.  
		

		
			 
		

		
			            22.            Effective Date.  This Agreement is effective after it has been signed by both Parties and after eight (8) days have passed since Employee has signed the Agreement (the “Effective Date”), unless revoked by Employee within seven (7) days after the date the Agreement was signed by Employee.
		

		
			 
		

		
			            23.            Counterparts.  This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.
		

		

		

		 

		

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		            24.            Voluntary Execution of Agreement.  This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that:
		

		
			 
		

		
			                        (a)            They have read this Agreement;
		

		
			 
		

		
			                        (b)            They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel;
		

		
			 
		

		
			                        (c)            They understand the terms and consequences of this Agreement and of the releases it contains; 
		

		
			 
		

		
			                        (d)            No promise or inducement for this Agreement has been made except as set forth in this Agreement; 
		

		
			 
		

		
			                        (e)            This Agreement is executed by Employee without reliance upon any statement or representation, written or oral, by the Company, its employees or any party released herein, except as set forth herein; and
		

		
			 
		

		
			                        (f)            They are fully aware of the legal and binding effect of this Agreement
		

		
			 
		

		
			[SIGNATURE PAGE FOLLOWS]
		

		
			 
		

		

		

		 

		

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			            IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						AMERICAN WOODMARK CORPORATION

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Dated:

					
					
						8/9/13

					
					
						 

					
					
						By:

					
					
						/s/ KENT GUICHARD

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						Kent Guichard

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Title:

					
					
						Chairman and Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						JONATHAN WOLK

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Dated:

					
					
						8/9/13

					
					
						 

					
					
						 

					
					
						/s/ JONATHAN WOLK

				

		
			                                                            
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			SIGNATURE PAGE TO SEPARATION AGREEMENT AND RELEASE
		

		 

		

			 

		

		

			-  8  -

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