Employment Transition and Separation. Kxx acknowledges and represents that as of the date of this Agreement, he has fully complied with all policies and procedures and codes of conduct of Cxxxxxxxx Downs. Pursuant to this Agreement, Ken's separation from Cxxxxxxxx Dxxxx shall be effective as of the Separation Date. The period between the date of this Agreement and the Separation Date shall be the "Transition Period." During the Transition Period, Kxx will perform such duties as defined by the Executive Vice President of Racing
Employment Transition and Separation. (a) You acknowledge and agree that you will continue to serve as a full-time, active employee of the Company through August 2, 2019 (your “Separation Date”), and your employment relationship with the Company will terminate effective as of the Separation Date. From the date hereof through the Separation Date, (i) you shall, in good faith, perform such transitional duties as are reasonably requested by the Company’s Chief Executive Officer, (ii) you shall continue to be paid your annual base salary at the rate in effect as of the date hereof, and (iii) except as set forth below, you shall continue to be eligible to participate in the Company’s employee benefit plans and programs in which you participate as of the date hereof. After the Separation Date, you will not perform any further job duties for the Company or render services to the Company in any other capacity except as provided in Paragraph 16 below.
Employment Transition and Separation. (a) You acknowledge and agree that you will continue to serve as a full-time, active employee of the Company through October 4, 2019 (the “Transition Date”). You will serve as a non-executive, part-time employee in the role of senior advisor to the Company from the Transition Date through January 3, 2020, (your “Separation Date”), and your employment relationship with the Company will terminate effective as of the Separation Date. For the avoidance of doubt, such termination of employment on the Separation Date will be a “Qualified Termination” under the Retention Program. After the Separation Date, you will not perform any further job duties for the Company or render services to the Company in any other capacity except as provided in Paragraph 16 below. Accordingly, on the Separation Date, you shall incur a “separation from service” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code” and such section “Section 409A”). Notwithstanding the foregoing, the Company may terminate your employment at any time prior to the Separation Date for Cause (as defined in the Retention Program), in which case you shall not be entitled to the Retention Program Benefit set forth in Paragraph 2 below. Xxxxx X. Xxxxx Page 2 of 14
Employment Transition and Separation
