SEC Contract Filing

Filing Date: 2022-02-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.31
<SEQUENCE>7
<FILENAME>a2021123110-kexhibit1031.htm
<DESCRIPTION>EX-10.31
<TEXT>
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<title>Document</title></head><body><div id="ie135756191244b4b85a2dd1ba9be10c2_1"></div><div style="min-height:72.15pt;width:100%"><div style="margin-bottom:0.15pt;padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Exhibit 10.31</font></div></div><div style="margin-bottom:15.95pt;padding-left:0.25pt;padding-right:0.25pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:125%">SEPARATION AGREEMENT AND GENERAL RELEASE</font></div><div style="margin-bottom:11.9pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">This Separation Agreement and General Release (&#8220;Release&#8221;) is made by and between Centene Management Company LLC (&#8220;Company&#8221;) and Jesse N. Hunter, the individual signing below (&#8220;Employee&#8221;). </font></div><div style="margin-bottom:11.9pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">In consideration of the mutual promises, covenants, and agreements contained in this Release, the adequacy and sufficiency of which are hereby acknowledged, Company and Employee agree as follows&#58; </font></div><div style="margin-bottom:6pt;padding-right:11pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:174%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:174%;padding-left:9.75pt;text-decoration:underline">TERMINATION OF RELATIONSHIP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">. The employment relationship between Employee and Company ended on November 5, 2021 (&#8220;Termination Date&#8221;). </font></div><div style="margin-bottom:6pt;padding-right:10.8pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:174%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:174%;padding-left:9.75pt;text-decoration:underline">CONSIDERATION FROM COMPANY</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">. In consideration of Employee&#8217;s decision to enter into this Release, Company will provide Employee with the following&#58; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:174%;padding-left:9.46pt;text-decoration:underline">Severance Pay</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%;text-decoration:underline">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%"> As soon as administratively feasible after the date this Release becomes effective as provided below, Company shall thereafter pay Employee a single lump sum cash payment in the amount of One million, five hundred fifty-six thousand, two hundred fifty dollars and no cents ($1,556,250), less applicable taxes and withholdings, as follows&#58;</font></div><div style="margin-bottom:6pt;padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">i.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%;padding-left:12.2pt">Eight hundred sixty-four thousand, five hundred eighty-three dollars and no cents ($864,583) representing twelve and one-half (12 &#189;) months of Employee&#8217;s base pay&#59; </font></div><div style="margin-bottom:6pt;padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">ii.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%;padding-left:9.15pt">Four hundred eighty-four thousand, one hundred sixty-seven dollars and no cents ($484,167) representing a pro-rated annual bonus for the 2021 calendar year&#59; and </font></div><div style="margin-bottom:6pt;padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">iii.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%;padding-left:6.1pt">Two hundred seven thousand, five hundred dollars and no cents ($207,500) representing a pro-rated portion of Employee&#8217;s outstanding cash award under the Centene Corporation 2007 Long-Term Incentive Plan, as amended (&#8220;Cash LTIP&#8221;) for the 2021-2023 performance period. </font></div><div style="margin-bottom:6pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:174%">Company shall pay this Severance Pay in a single lump-sum payment no later than the second regular Company payday following the seven day revocation period described in Section 20 hereof. 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