SEC Contract Filing

Filing Date: 2016-03-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.29
<SEQUENCE>3
<FILENAME>trueq42015ex1029.htm
<DESCRIPTION>EXHIBIT 10.29
<TEXT>
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<a name="sadf301f6785d40cb90cadb0184ccfba4"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.29</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:center;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SEPARATION AGREEMENT AND RELEASE</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;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Separation Agreement and Release (&#8220;Agreement&#8221;) is made by and between Troy Foster (&#8220;Employee&#8221;) and TrueCar, Inc. (&#8220;Company&#8221;) (collectively, &#8220;Parties&#8221; or individually, a &#8220;Party&#8221;).</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:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECITALS</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;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Employee is employed by the Company;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Employee signed an At Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:10pt;">with the Company on April 22, 2014 (&#8220;Confidentiality Agreement&#8221;);</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Employee signed an employment agreement with the Company dated April 21, 2014, (the &#8220;Employment Agreement&#8221;); </font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Company and Employee have entered into Stock Option Agreements, dated May 1, 2014, May 2, 2014, and April 23, 2015 respectively, granting Employee the option to purchase shares of the Company&#8217;s common stock (each such grant, an &#8220;Option&#8221;) and have entered into Restricted Stock Unit Award Agreements dated May 21, 2014, September 8, 2014, March 12, 2015, and April 23, 2015, respectively granting Employee the right to receive an Award of Restricted Stock Units (each such grant, an &#8220;RSU Award&#8221;), each subject to the terms and conditions of the Company&#8217;s equity plan under which it was granted (the 2005 Stock Plan or the 2014 Equity Incentive Plan, as applicable, each, a &#8220;Plan&#8221;), and the terms and conditions of the Stock Option Agreement or the Restricted Stock Unit Award Agreement, as applicable, related to the award (collectively, &#8220;Stock Agreements&#8221;);</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Employee desires to terminate his employment with the Company;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Parties have agreed that Employee&#8217;s employment with the Company shall terminate effective December 31, 2015 (&#8220;Termination Date&#8221;); and </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that the Employee may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Employee&#8217;s employment with or separation from the Company, and to provide all severance payments and benefits to which Employee is entitled under the terms of the Employment Agreement.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt