ContractGeneral Release and Consulting Agreement • May 5th, 2020 • North Carolina
EX-10.1 2 ex1018k060718.htm EXHIBIT 10.1 Exhibit 10.1 EXECUTION VERSION SEPARATION, GENERAL RELEASE AND CONSULTING AGREEMENT This SEPARATION, GENERAL RELEASE AND CONSULTING AGREEMENT (the “Agreement”) is made and entered into between Cree, Inc., a North Carolina corporation (the “Company”), and Michael E. McDevitt (“Executive”). Throughout the remainder of the Agreement, the Company and Executive may be collectively referred to as “the parties.” Executive is currently employed as Executive Vice President and Chief Financial Officer (“CFO”) of the Company. Executive is subject to two (2) agreements with the Company entitled Employee Agreement Regarding Confidential Information, Intellectual Property and Noncompetition, dated October 1, 2002 and September 1, 2006, and is entitled to certain benefits under (i) the Severance Plan for the Cree Senior Leadership Team (“Severance Plan”); (ii) the Company’s 2013 Long-Term Incentive Compensation Plan (the “2013 Plan”); (iii) the Company’s 2004
