FORM OF SEVERANCE WAIVER AND EMPLOYMENT AGREEMENT AMENDMENT
Exhibit 10.2
FORM OF SEVERANCE WAIVER AND EMPLOYMENT AGREEMENT AMENDMENT
WHEREAS, EWC Ventures, LLC, a subsidiary of European Wax Center, Inc. (collectively, the “Company”), and [●] (the “Executive”) entered into an employment agreement dated [●] for the purpose of establishing the terms and conditions of Executive’s employment (the “Employment Agreement”);
WHEREAS, pursuant to the Employment Agreement, the Company agreed to provide the Executive with certain severance payments and benefits upon termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason, as set forth in the Employment Agreement;
WHEREAS, the Company subsequently adopted the European Wax Center, Inc. Change in Control and Severance Plan, effective February 22, 2023 (the “Severance Plan”), pursuant to which the Executive is entitled to certain severance payments and benefits upon termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason, as set forth in the Severance Plan; and
WHEREAS, the Executive desires to waive the Executive’s entitlement to severance payments and benefits upon termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason under the Employment Agreement and instead be subject to the Severance Plan.
NOW, THEREFORE, in consideration of the severance payments and benefits provided pursuant to the terms of the Severance Plan and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Executive agrees as follows:
1
Exhibit 10.2
2
IN WITNESS HEREOF, the Executive has executed this Waiver as of the date written below.
EXECUTIVE
___________________________
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Date: ______________________
(Signature Page to Severance Waiver)