AMENDMENT NO. 1 TO SEPARATION AGREEMENT AND RELEASE
Exhibit 10.41
AMENDMENT NO. 1 TO SEPARATION AGREEMENT AND RELEASE
This AMENDMENT NO. 1 TO SEPARATION AGREEMENT AND RELEASE (the “Amendment”) is made and entered into by and between XXXXX XXXXXXX & CO. (“PJC” or the “Company”), and Xxxxxx X. Xxxxxx, Xx. (“Employee”). The Company and Employee shall be referenced individually as a “Party,” and collectively as the “Parties.”
WHEREAS, the Parties entered into a Separation Agreement and Release (“Agreement”) on December 4, 2017;
WHEREAS, the Agreement provided, inter alia, for a Separation Date of December 31, 2017 and an Additional Separation Payment to Employee;
WHEREAS, the Parties have agreed to change the Separation Date to December 29, 2017; and to change the amount of the Additional Separation Payment to be paid to Employee;
WHEREAS, the Parties have read and understood the terms of this Amendment, and the Parties have been represented by counsel throughout the negotiations leading up to the Parties entering into this Amendment.
NOW, THEREFORE, as consideration for the mutual promises and covenants set forth herein, the Parties covenant and agree as follows:
1. | New Separation Date: Employee will resign from his current position at the Company, effective December 29, 2017 (“Separation Date”). Any reference to “Separation Date” in the Agreement will refer to December 29, 2017, not to December 31, 2017. |
2. | Additional Separation Payment: The amount of the Additional Separation Payment provided for in Paragraph 9 of the Agreement shall be Five Hundred and Ninety-Five Thousand and No/100 Dollars ($595,000.00). |
3. | No Other Change: Except for the changes provided in Paragraphs 1 and 2 above, the remaining terms and conditions remain in full force and effect as set forth in the Agreement. |
(Intentionally left blank)
YOU AFFIRM THAT YOU HAVE HAD ADEQUATE TIME TO REVIEW THIS AMENDMENT AND HAVE BEEN ADVISED BY COUNSEL BEFORE SIGNING IT. |
Dated: December 22, 2017 XXXXXX X. XXXXXX, XX.
/s/ Xxxxxx X. Xxxxxx, Xx.
As to Form: XXXXXX, XXXXXXXX AND XXXXXX, P.A.
Dated: December 22, 2017 /s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx
00 Xxxxx Xxxxxxx Xxxxxx
Xxxxx 0000
Xxxxxxxxxxx, XX 00000
Attorneys for Xxxxxx Xxxxxx
Dated: December 22, 2017 XXXXX XXXXXXX & CO., INC.
By: /s/ Xxxxxx X. Xxxx
Its: CEO
As to Form: XXXXXX & XXXXXXX LLP
Dated: December 22, 2017 /s/ Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx
00 Xxxxx Xxxxx Xxxxxx
Xxxxx 0000
Xxxxxxxxxxx, XX 00000
Attorneys for Xxxxx Xxxxxxx & Co., Inc.
