SEVERANCE AGREEMENTSeverance Agreement • October 10th, 2012 • XRS Corp • Electronic computers • Minnesota
THIS SEVERANCE AGREEMENT ("Agreement") is made and entered into effective October 5, 2012 by and between XRS Corporation ("XRS" or the “Company”) and Michael W. Weber ("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. This Agreement supersedes and replaces in its entirety any previous severance arrangements between the Company and Employee, including without limitation the severance arrangements described in the letter dated February 8, 2011 from XATA Corporation to Mike Weber.
