SEC Contract Filing

Filing Date: 2024-11-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>5
<FILENAME>a1016-separationandrelease.htm
<DESCRIPTION>EX-10.16
<TEXT>
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<title>Document</title></head><body><div id="i5077ea2c5a8f423089093478baaac597_1"></div><div style="min-height:74.16pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit 10.16</font></div><div><font><br></font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:15pt;padding-left:2.77pt;padding-right:2.77pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:16.00pt">SEPARATION AGREEMENT AND RELEASE</font></div></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;This Separation Agreement and Release (&#8220;Second Agreement&#8221;) is made between Maximus, Inc. (&#8220;Maximus&#8221; or the &#8220;Company&#8221;) and Teresa Weipert (&#8220;Employee&#8221;). Employee was provided a copy of this Second Agreement on June 3, 2024 (the &#8220;Notice Date&#8221;). </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">WHEREAS, the partied entered into a Separation Agreement and Release effective on March 5, 2024 (&#8220;First Separation Agreement&#8221;), the terms of which were agreed upon, put into effect, and remain in effect&#59; and</font></div><div style="text-indent:36pt"><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">WHEREAS, pursuant to the First Separation Agreement, the parties mutually agreed that Employee would remain employed through June 30, 2024 (&#8220;Termination Date&#8221;) to provide certain transition support services to Maximus and would enter into this Second Agreement thereafter&#59; and </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">WHEREAS, Maximus is willing to provide Employee certain severance and incentive payments as set forth herein&#59; and </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">WHEREAS, Employee and Maximus desire to enter into this Second Agreement regarding the terms and conditions of the termination of Employee&#8217;s employment with Maximus.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;NOW THEREFORE, Employee and Maximus enter into this Second Agreement and agree to the following terms and conditions in consideration of the promises contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged&#58;</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:26.84pt;text-decoration:underline">Termination of Employment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. Employee&#8217;s employment with Maximus will end as of close of business on the Termination Date. </font></div><div><font><br></font></div><div style="text-indent:70.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;Maximus will pay all final wages due to Employee as of the Termination Date, which will be issued according to the normal payroll cycle. </font></div><div style="text-indent:70.2pt"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;Employee's participation, if any, in all Maximus benefit plans shall cease as of the Termination Date, except that it is expressly recognized that Employee shall retain all vested rights, if any, under such plans and any amounts payable to Employee under such plans shall be paid pursuant to the respective terms of such plans. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;All health insurance benefits, if any, cease on the last day of the month in which Employee is terminated. In the event Employee is enrolled in the Company&#8217;s group health plan at the time of termination, Employee acknowledges that (i) on the Termination Date, a &#8220;qualifying event&#8221; within the meaning of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (&#8220;COBRA&#8221;) will occur with respect to Employee as a result of which Employee and any qualified beneficiaries will lose coverage under Maximus&#8217; group health plan&#59;