SEVERANCE AGREEMENTSeverance Agreement • February 12th, 2013 • XRS Corp • Electronic computers • Minnesota
THIS SEVERANCE AGREEMENT ("Agreement") is made and entered into effective November 2, 2012 by and between XRS Corporation ("XRS" or the “Company”) and Bruce B. McPheeters ("Employee"). This Agreement establishes certain payment provisions in the event that Employee is separated from employment with XRS under the identified circumstances below. This Agreement does not create a contract of employment, and Employee continues as an employee at will.
