|
|
|
|
Document Preview Separation Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Separation Agreement |
|||
|
Entities: |
|
|||
|
Date: |
2005 |
|||
|
Size: |
Preview shows 4KB of 10KB total |
|||
|
Price: |
$41 |
|||
|
ID: |
#881698 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
COCA-COLA ENTERPRISES INC.
SEPARATION AGREEMENT
THIS AGREEMENT (the Agreement), by and between COCA-COLA ENTERPRISES INC., a Delaware corporation (the Company), and Patrick J. Mannelly (Mr. Mannelly).
WHEREAS, Mr. Mannelly has given notice of his resignation from the Company, and the Company desires to provide Mr. Mannelly with separation benefits to recognize the value he has provided to the Company during his many years of service to the Company.
NOW, THEREFORE, for valuable consideration, the sufficiency of which is hereby acknowledged, the parties do hereby agree as follows:
1. Termination Date. Mr. Mannelly agrees that his employment with the Company will terminate, by resignation, on August 16, 2004 (Termination Date).
2. Separation Pay. The Company agrees that after the execution of, and the revocation period related to, this Agreement it will voluntarily pay Mr. Mannelly $34,500 each month through January 31, 2007. All payments under this Agreement shall be made through the Companys payroll and shall be subject to tax withholding applicable to wages.
3. Payments in Lieu of Executive Management Incentive Plan. The Company will pay Mr. Mannelly amounts equal to the bonuses, if any, to which he would have been entitled under the Executive Management Incentive Plan (the MIP) for calendar years 2004, 2005, and 2006. The amount of each such payment will be determined as if Mr. Mannelly had remained a Senior Vice President of the Company having an annual salary of $414,000. Specifically, during first quarter of 2005, 2006, and 2007, the Company will make such payments to Mr. Mannelly for the 2004, 2005 and 2006 calendar years, respectively.
4. Reimbursement for Certain Expenses. Mr. Mannelly shall be entitled to receive reimbursements for his tax and financial planning expenses and club dues during the period for which he is receiving payments under this Agreement. Such expenses shall be reimbursed by the Company upon the presentation of invoices, receipts or other evidence reasonably acceptable to the Company.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us