Brookdale Senior Living Inc.Severance Pay Policy Letter Agreement • August 6th, 2010 • Brookdale Senior Living Inc. • Services-nursing & personal care facilities • Tennessee
Reference is made to that certain employment agreement, dated [______] (the “Employment Agreement”), entered into between [Executive] (the “Executive”) and Brookdale Senior Living Inc., a Delaware corporation (the “Company”). Pursuant to this Letter Agreement, the Company and the Executive hereby mutually agree to terminate the Employment Agreement in its entirety in consideration of the Company’s adoption of the Severance Pay Policy, Tier I, (the “Policy”) attached hereto as Exhibit A, pursuant to which the Executive shall be an Eligible Employee (as such term is defined therein); provided that, the Company and the Executive hereby agree that, for purposes of applying the Policy to the Executive, the term Qualifying Separation from Service will include Executive’s voluntary Separation from Service for Good Reason (even in the absence of a Change of Control) and, as a result, Subsections 4(a)(i)(1) and 4(a)(ii)(1) of the Policy will be replaced with the versions of Subsections 4(a)(i)(
