Common Contracts
1 similar Employment Severance Agreement contracts
Change in Directors or Principal OfficersEmployment Severance Agreement • November 15th, 2011
Bronson resigned from his positions as Chief Creative Officer and Director of the Company effective as of September 30, 2011. Under the severance agreement, the Company will pay Mr. Bronson: (1) an amount equal to $12,000 payable in equal amounts over three months (October, November, and December 2011); (2) Subject to the terms and conditions of the Agreement, the Parties seek to achieve a full and final settlement and release of all obligations that each of the Parties may have to the other party (including any loans, deferred compensation, and any other obligations). Mr. Bronson expressed no disagreement with any policy of the Company or the Board of Directors and submitted no objection, written or otherwise, to any action of the Board or of Company. The separation agreement does not affect Mr. Bronson’s stock options, warrants or other stock acquisition rights which shall vest and/or terminate pursuant to their terms.
