RETENTION AGREEMENT
Exhibit 10.6
RETENTION AGREEMENT
This Retention Agreement ("Agreement") is entered into this 14 day of January, 2022 by and between Sovos Brands Intermediate, Inc. (the "Company") and Xxxxxxx Xxxxxxxxx ("Employee").
Recitals:
Employee is currently employed by the Company and Employee has decided to resign from employment with the Company; and
The Company desires to provide an incentive to Employee to continue to work for the Company until February 11, 2022.
Therefore, the Company and Employee hereby agree as follows:
Agreement:
Collectively, the payments and other consideration set forth above are referred to herein as the "Transition Consideration." The Company will provide payments within ten (10) business days following February 11, 2022, assuming Employee has satisfied each of the terms set forth in Paragraph 1.
Employee acknowledges that the Company has made no representation about the tax consequences of the Transition Consideration or any other consideration provided by
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Exhibit 10.6
the Company to Employee pursuant to this Agreement. Employee agrees to indemnify and hold the Company harmless for any and all claims, taxes, or penalties asserted against the Company relating to the Transition Consideration or other consideration provided by the Company pursuant to this Agreement.
a) | Employee resigns or retires from employment with the Company; |
or
b) | The Company terminates the employment of Employee for "cause" |
which for purposes of this Agreement shall mean the following: (i) indictment on or conviction of a felony, (ii) theft or embezzlement of Company property or commission of other acts involving moral turpitude, or (iii) substantial failure to perform Employee's duties and responsibility as assigned by the Company; or
Sovos Brands Intermediate, Inc.Xxxxxxx Xxxxxxxxx
By: /s/ Katie Gvazdinskas_________/s/ Xxxxxxx Greenberg_______
Its: Chief Human Resources Officer
Dated: January 14, 2022Dated: 1/14/22
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