SEC Contract Filing

Filing Date: 2018-05-02

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>serv-20180331xex10_2.htm
<DESCRIPTION>EX-10.2
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 Exhibit 10.2
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 <font style="display: inline;font-family:Arial;font-weight:bold;font-size:10pt;">Exhibit 10.2</font>

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 <a name="_GoBack"></a><font style="display: inline;font-family:Arial;font-size:11pt;">SEPARATION AGREEMENT AND GENERAL RELEASE</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">This Separation Agreement and General Release (&#x201C;Agreement&#x201D;), dated as of March 31, 2018, is entered into by you, James Lucke, on behalf of yourself, your heirs, executors, administrators, successors, assigns (collectively, &#x201C;you&#x201D;) and The ServiceMaster Company, LLC, on behalf of itself, subsidiaries, parent companies, affiliated entities, predecessors, successors, assigns, and their respective officers, directors, employees, insurers and agents (collectively, &#x201C;Company&#x201D; or &#x201C;ServiceMaster&#x201D;).&nbsp;&nbsp;In consideration of the mutual covenants in this Agreement, the parties hereby agree as follows:</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-family:Arial;font-size:11pt;text-decoration:underline;">Separation from Employment</font><font style="display: inline;font-family:Arial;font-size:11pt;">.&nbsp;&nbsp;You have resigned from your position as senior vice president and general counsel at ServiceMaster, effective March 31, 2018 (&#x201C;Separation Date&#x201D;), and will no longer hold any other officer or director position with ServiceMaster or any of its subsidiaries or affiliated entities.&nbsp;&nbsp;ServiceMaster&#x2019;s internal personnel records will reflect that you retired.&nbsp;&nbsp;You will continue to be paid your current base salary and benefits through your Separation Date in accordance with ServiceMaster&#x2019;s normal payroll practices.</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-family:Arial;font-size:11pt;text-decoration:underline;">Severance Benefits</font><font style="display: inline;font-family:Arial;font-size:11pt;">.&nbsp;&nbsp;In exchange for your promises as set forth in this Agreement and subject to your compliance with the terms and conditions hereof, ServiceMaster agrees to provide you with the following severance pay:</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-family:Arial;font-size:11pt;text-decoration:underline;">Monthly Salary</font><font style="display: inline;font-family:Arial;font-size:11pt;">.&nbsp;&nbsp;You will receive payments totaling $470,000.00, which equals 12 times your current monthly base salary (the &#x201C;Monthly Salary&#x201D;); and</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;font-family:Arial;font-size:11pt;text-decoration:underline;">Target Bonus</font><font style="display: inline;font-family:Arial;font-size:11pt;">.&nbsp;&nbsp;You will receive payments totaling $280,000.00 (the &#x201C;Target Bonus&#x201D;), which equals your target bonus under the ServiceMaster Annual Bonus Plan for the 2018 Plan year.</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">The Monthly Salary and the Target Bonus will be aggregated as a single sum and paid in 12 equal monthly installments over a 12</font><font style="display: inline;font-family:Arial;font-size:11pt;">&#8209;month period, starting on the first practicable payroll date after the Effective Date.</font>
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 <font style="display: inline;font-family:Arial;font-size:11pt;">The compensation set forth in this Agreement represents all of the amounts you will be entitled to receive from the Company and you will not be paid any other compensation or benefits.&nbsp;&nbsp;In addition to any other remedies which may be available at law, the Company may suspend, cancel and/or seek the refund of any payments contemplated by this Agreement upon any violation by you of any representation, warranty or covenant set forth herein.</font>
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