SEC Contract Filing

Filing Date: 2020-05-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101-separationa.htm
<DESCRIPTION>EXHIBIT 10.1
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 <title>Exhibit</title>
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<div><a name="sB53934DD396C59CFAF2B3C405FCE9358"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;padding-left:24px;text-indent:0px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;"><img src="uelogoa22.jpg" alt="uelogoa22.jpg" style="height:120px;width:201px;"></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">May 20, 2020</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Via Email and U.S. Certified or Registered Mail</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Donald T. Briggs</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">113 Hix Avenue</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Rye, NY 10580</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dear Don: </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As we have discussed, your employment with Urban Edge Properties (hereafter &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) will end effective May 8, 2020 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Date of Termination</font><font style="font-family:inherit;font-size:12pt;">&#8221;). This letter summarizes some information related to the ending of your employment with the Company and its subsidiaries.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As you know, you and the Company entered into an Employment Agreement dated as of July 30, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Pursuant to Section 6(a) of the Employment Agreement, any termination of your employment is to be communicated by written Notice of Termination to the other party that indicates the specific termination provision in the Employment Agreement relied upon. This letter serves as that written notice. Accordingly, you are hereby notified that your employment is ending on the Date of Termination pursuant to Section 5(e) of the Employment Agreement. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In connection with the ending of your employment, you are entitled to the accrued obligations set forth in Section 7(a) of the Employment Agreement. You will receive your final paycheck for accrued wages through the Date of Termination no later than the first regular payroll date following the Date of Termination. Your final paycheck will include payment for all salary/wages that you earned through and including the Date of Termination and for any unused, accrued vacation time. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">You are also entitled to certain severance pay and benefits pursuant to Section 5(e) and Section 7(b) of the Employment Agreement provided you sign, do not revoke and comply with the Separation and General Release Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) enclosed with this letter within the timeframe set forth therein. The Agreement is the &#8220;Release&#8221; referenced in Section 7(b) of the Employment Agreement. You have the right to consult with your own counsel at your own expense before signing the Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style=