SEPARATION AGREEMENT AND GENERAL RELEASESeparation Agreement and General Release • August 9th, 2005 • Group 1 Automotive Inc • Retail-auto dealers & gasoline stations • Texas
This SEPARATION AGREEMENT AND GENERAL RELEASE (“Agreement”) is made and entered into this 9th day of May, by and between Group 1 Automotive, Inc., a Delaware corporation (together with its affiliates (defined below), “Group 1”) and B.B. Hollingsworth, Jr. (“Hollingsworth”). Hollingsworth and Group 1 are sometimes herein collectively referred to herein as the “Parties” and individually, a “Party.” The “Effective Date” of this Agreement shall be on the later of (i) the eighth (8th) day after this Agreement has been signed by Hollingsworth and (ii) the date of the expiration of the revocation period described in Section 24 of this Agreement.
