SEC Contract Filing

Filing Date: 2024-03-15

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d766133dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>SEPARATION AGREEMENT</U> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>AND FULL
RELEASE AND WAIVER OF CLAIMS</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">This Confidential Separation Agreement and Full Release and Waiver of Claims (&#147;Agreement&#148;) is
entered into by and between Donald Brown (&#147;Employee&#148; or &#147;you/your&#148;) and NiSource Corporate Services Company (&#147;NiSource&#148; or &#147;the Company&#148;) (collectively, &#147;the Parties&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">In consideration of the mutual promises, covenants, and agreements set forth herein, it is hereby agreed as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:ARIAL; " ALIGN="left"><U>Employment Status</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:12pt; font-family:ARIAL" ALIGN="justify">You will continue as an active employee of the Company through April&nbsp;1, 2024 (&#147;Separation Date&#148;) and continue to be paid
your current base salary and participate in all Company employee benefit plans in which you currently participate through that date However, you will be relieved of all general duties and responsibilities as of March&nbsp;31, 2024, and you will be
on vacation from March&nbsp;18 through March&nbsp;29, 2024. If you timely sign and do not revoke this Agreement in the <FONT STYLE="white-space:nowrap">7-day</FONT> revocation period, you will be eligible to receive the separation payment described
in the Consideration section below. Your personnel records will reflect a voluntary resignation, effective April&nbsp;1, 2024. </P> <P STYLE="font-size:22pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:ARIAL; " ALIGN="left"><U>Consideration</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:12pt; font-family:ARIAL" ALIGN="justify">Provided you have timely signed this Agreement and not revoked it during the <FONT STYLE="white-space:nowrap">7-day</FONT> revocation
period, you will receive no later than 45 days after the Separation Date a gross, lump sum payment in the amount of $688,000 (which is equal to 52 weeks of pay and includes a lump sum payment equivalent to 12 months of COBRA that may be used for the
purchase of medical and dental benefits, less all applicable withholdings; provided that, if you are a specified employee for purposes of Section&nbsp;409A of the Internal Revenue Code of 1986 as amended (the &#147;IRC&#148;) (C2 and above) and
these lump sum payment are not exempt from coverage under IRC Section&nbsp;409A, the lump sum payments will not be paid to you until the earlier of (1)&nbsp;the date that is six months after the Separation Date, or (2)&nbsp;the date of your death.
Legally mandated deductions for social security and federal, state and local taxes will be withheld from each lump sum. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:ARIAL; " ALIGN="left"><U>Other Benefits and Payments</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:3%; font-size:12pt; font-family:ARIAL" ALIGN="justify">Your eligibility to participate in any Company incentive program, equity or other benefits program or plan or agreement will be in
accordance with the terms of such programs, plans and agreements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">-1- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3%; font-size:12pt; font-family:ARIAL" ALIGN="justify">Regardless of whether you execute this Agreement, you will: (a)&nbsp;receive a lump
sum payment for any accrued and unused vacation pay to which you are entitled accrued through the Separation Date; and (b)&nbsp;be paid out vacation and floating holidays that have been banked by you (subject to the
<FONT STYLE="white-space:nowrap">640-hour</FONT> banking maximum). Such payments will be included in your final regular paycheck as an active employee, unless you are a specified employee for pu