April 21, 2005
April 21, 2005
Exhibit 10.29.1
Xxxxxxx Xxxxx
00000 X. Xxxxxxx
Xxxxxx Xxxxx
Xxxxxx, XX 00000
Dear Xxxx:
Xxxxxx Xxxxx
Xxxxxx, XX 00000
Dear Xxxx:
On behalf of MedQuist Inc. (the “Company”), this Agreement describes your severance
benefits should your employment with the Company terminate pursuant to the conditions set out
below. For purposes of this Agreement, you are referred to as the “Employee .”
1. Employment At-Will. Nothing contained in this Agreement is intended to
create an employment relationship whereby Employee will be employed other than as an “at-will”
employee. Employee’s employment by the Company may be terminated by Employee or the Company at any
time.
2. Severance Payments. Employee’s employment by the Company may be
terminated at any time. Upon termination, Employee will be entitled to the payment of accrued and
unpaid salary through the date of such termination. All salary, commissions and benefits will
cease at the time of such termination, subject to the terms of any benefit plans then in force or
enforceable under applicable law and applicable to Employee, and the Company will have no further
liability or obligation hereunder by reason of such termination; provided, however, that if
Employee’s employment is terminated by the Company without Cause, Employee will be entitled to
continued payment of his base salary (at the rate in effect upon termination), subject to
applicable federal, state, and local income tax deductions, for a period of 12 months to be paid in
accordance with the Company’s normal payroll process. Notwithstanding the foregoing, no amount
will be paid or benefit provided under this paragraph unless and until (x) Employee executes and
delivers a general release of claims against the Company and its subsidiaries in a form prescribed
by the Company, which will include, among other things, non-competition and non-solicitation
obligations for the duration of the severance period, and (y) such release becomes irrevocable.
Any severance pay or benefits provided under this paragraph will be in lieu of, not in addition to,
any other severance arrangement maintained by the Company. No severance benefits will be paid in
the event that Employee resigns his employment with the Company; provided, however, that Employee
will be paid severance benefits if he tenders his written resignation within 30 days following a
substantial and material diminution of his duties or a reduction in his base salary in excess of
ten percent, which diminution or reduction is not cured by the Company within 10 days of receiving
Employee’s written resignation.
3. Termination for Cause. For purposes of this Agreement, “Cause”
means the occurrence of any of the following: (1) Employee’s refusal, willful failure or inability
to perform (other than due to illness or disability) his employment duties or to follow the lawful
directives of his superiors; (2) misconduct or gross negligence by Employee in the course of
employment; (3) conduct of Employee involving any type of disloyalty to the Company or its
subsidiaries, including, without limitation: fraud, embezzlement, theft or dishonesty in the course
of employment; (4) a conviction of or the entry of a plea of guilty or nolo contendere to a crime
involving moral turpitude or that otherwise could reasonably be expected to have an adverse effect
on the operations, condition or reputation of the Company, (5) a material breach by Employee of any
agreement with or fiduciary duty owed to the Company; or (6) alcohol abuse or use of controlled
drugs other than in accordance with a physician’s prescription. No severance benefits will be paid
in the event that the Company terminates the Employee for Cause.
4. Entire Agreement; Amendment. This Agreement contains the entire
agreement and understanding of the parties hereto relating to the subject matter hereof. This
Agreement may not be changed or modified, except by an agreement in writing signed by each of the
parties hereto.
5. Governing Law. This Agreement shall be governed by, and enforced in
accordance with, the laws of the State of New Jersey without regard to the application of the
principles of conflicts of laws.
To acknowledge your agreement to and acceptance of the terms and conditions of this Agreement,
please sign below in the space provided within 5 days of the date of this Agreement and return a
singed copy to my attention. If the Agreement is not signed and returned within 5 days, the terms
and conditions of this Agreement will be deemed withdrawn.
| Sincerely, MEDQUIST INC. |
||||
| By: | /s/ Xxxxx Xxxxxxx | |||
Accepted and Agreed:
/s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
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