Common use of Separation Compensation Clause in Contracts

Separation Compensation. In exchange for your agreement to the general release and waiver of claims and covenant not to ▇▇▇ set forth below and your other promises herein, the Company agrees to provide you with the [Severance Benefits / Change in Control Severance Benefits] (as defined in the employment contract, dated [insert date], 20[__], between you and the Company). By signing below, you acknowledge that you are receiving the separation compensation outlined in this paragraph in consideration for waiving your rights to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation. The Company will pay the [Severance Benefits / Change in Control Severance Benefits] in the amount of CHF [XXX] gross in accordance with Section 3.5 [and Section 7] of your employment contract, if you do not dispute that the contract ended on the Separation Date set in Section 1 above and if you confirm once again in writing your consent to this Agreement after [insert date], but before [insert date]. The payment of the first instalment of the [Severance Benefits / Change in Control Severance Benefits] will be made within 30 days of the receipt of the written confirmation to the bank account used by the Company for salary payments. If, for any reason you dispute that the contract ended on the Separation Date set in Section 1 above, at the latest, and/or if you do not confirm once again in writing your consent to this Agreement in due time, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits], but this Agreement remains valid. Moreover, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits] and will pay them back to the Company if you have already received them, if you dispute the validity of part or all of this Agreement, for example the validity of the general release and waiver of claims and covenant not to ▇▇▇ set forth below.

Separation Compensation. In exchange for a. Whether or not you sign this Agreement and the First Release, Regis will pay you all wages you have earned through and including the Separation Date, all compensation accrued as of the Separation Date under each plan or program of the Corporation in which you may be participating as of the Separation Date in accordance with the terms of such plan or program, and your agreement accrued but unused PTO benefit. b. Subject to the general release conditions in Section 5.c. below, if (and waiver only if) your employment with Regis terminates (i) on the Anticipated Separation Date, (ii) prior to the Anticipated Separation Date because you resign for Good Reason, or (iii) prior to the Anticipated Separation Date because Regis terminates your employment without Cause (which Regis acknowledges would be a breach of claims and covenant not to ▇▇▇ set forth below and your other promises hereinthis Agreement), the Company agrees to then Regis shall provide you with the [following payments and benefits (collectively, the “Separation Benefits”): (A) the Severance Payment and benefits continuation identified in Sections 6(b)(iii) and (iv) of the Employment Agreement, (B) outplacement services provided by an outplacement vendor selected by the Corporation in its discretion, payable directly to the outplacement vendor selected by the Corporation, provided any such outplacement services will not exceed $10,000.00 and will expire no later than August 31, 2014; and (C) eligibility to receive an additional discretionary payment of up to $100,000.00, less applicable withholdings, which amount (if any) will be determined by the Corporation in its sole discretion on or about February 28, 2015 and, if the Corporation decides that any such payment will be made, payable to you in a lump sum on the Corporation’s first regular payroll date after February 28, 2015 (the “Additional Discretionary Payment”). c. Your receipt of the Separation Benefits / Change in Control Severance Benefits] is subject to your satisfaction of the following conditions: (as defined i) you have signed and not rescinded the First Release within the applicable periods specified in the employment contract, dated [insert date], 20[__], between you and First Release; (ii) on or within 21 days after the Company). By signing belowSeparation Date, you acknowledge that have signed a second release in the form attached to this Agreement as Exhibit B (the “Second Release”) (which the Corporation shall provide to you no later than the Termination Date); (iii) you have not rescinded the Second Release within the rescission period set forth in the Second Release; and (iv) you are receiving the separation compensation outlined in this paragraph in consideration for waiving strict compliance with all of your rights to claims referred to in obligations under this Agreement and that you would the Employment Agreement (including but not otherwise be entitled limited to, with respect to the separation compensation. The Company will pay the [Severance Benefits / Change Additional Discretionary Payment that may be payable in Control Severance Benefits] in the amount of CHF [XXX] gross in accordance March 2015, your compliance with Section 3.5 [Sections 7, 9 and Section 7] of your employment contract, if you do not dispute that the contract ended on the Separation Date set in Section 1 above and if you confirm once again in writing your consent to this Agreement after [insert date], but before [insert date]. The payment of the first instalment of the [Severance Benefits / Change in Control Severance Benefits] will be made within 30 days of the receipt of the written confirmation to the bank account used by the Company for salary payments. If, for any reason you dispute that the contract ended on the Separation Date set in Section 1 above, at the latest, and/or if you do not confirm once again in writing your consent to this Agreement in due time, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits], but this Agreement remains valid. Moreover, you will not be entitled to the [Severance Benefits / Change in Control Severance Benefits] and will pay them back to the Company if you have already received them, if you dispute the validity of part or all 11 of this Agreement, for example the validity of the general release and waiver of claims and covenant not to ▇▇▇ set forth below).

Separation Compensation. In exchange for your signing the severance agreement to the general and release and waiver of claims attached hereto as Addendum A (the “Release”) and covenant not to ▇▇▇ set forth below and your other promises hereinthe Consulting Agreement (as defined below), the Company agrees that: (a) the Company will retain you as a consultant pursuant to provide you with the [Severance Benefits / Change in Control Severance Benefits] Consulting Agreement (as defined below) during the six month period following the Separation Date (the “Separation Period”); (b) during the Separation Period the Company will pay you monthly severance equal to your current salary level of $20,833.34 per month (the “Monthly Severance”), less applicable withholding taxes provided however, that the Company has no duty to continue to pay you the Monthly Severance in the employment contractevent that you engage in New Employment (as defined below), provided the Company will pay you a prorated portion of any Monthly Severance up to the date of commencement of New Employment; and (c) on the Separation Date, the Company will accelerate the vesting of your outstanding options to purchase shares of the Company’s common stock such that you will become immediately vested in the number of shares that would have vested in the six months following the last date of the month in which the Separation Date occurs (“Accelerated Vesting”), but in no event for more than the number of shares subject to a particular option grant provided however, that you will not be entitled to further vesting or acceleration of your options to purchase shares of the Company’s common stock after the Accelerated Vesting on the Separation Date. You may exercise your options to purchase shares of the Company’s common stock that may have vested as of the Separation Date at any time before the ninetieth day following the Separation Date. For purposes of this Agreement “New Employment” shall mean being paid to work by an employer or firm other than the Company (whether as an employee or consultant) for 20 or more hours per week. In exchange, by signing below, you agree: (a) to, upon your termination, execute and not to revoke the Release; (b) to provide consulting services to the Company during the Separation Period pursuant to the Consulting Agreement dated [insert date]August 17, 20[__], 2004 by and between you and the CompanyCompany (the “Consulting Agreement”). By signing below; and (c) that, at any point in time following the end of your obligation to provide consulting services under the Consulting Agreement, you will assist the Company as reasonably necessary with any reviews, investigations or examinations of the Company’s financial and accounting results, policies, practices and other matters during your period of employment with the Company; and (d) acknowledge that you are receiving the separation compensation outlined in this paragraph section in consideration for waiving your rights right to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation. The Company will pay the [Severance Benefits / Change in Control Severance Benefits] in the amount Letter Agreement. In addition, except as expressly set forth in this paragraph and except your receipt of CHF [XXX] gross in accordance with Section 3.5 [and Section 7] of your employment contractPayments described under the paragraph 3, if you do not dispute that the contract ended on following the Separation Date set in Section 1 above and if you confirm once again in writing your consent to this Agreement after [insert date], but before [insert date]. The payment of the first instalment of the [Severance Benefits / Change in Control Severance Benefits] will be made within 30 days of the receipt of the written confirmation to the bank account used by the Company for salary payments. If, for any reason you dispute that the contract ended on the Separation Date set in Section 1 above, at the latest, and/or if you do not confirm once again in writing your consent to this Agreement in due timeDate, you will not no longer be entitled eligible to participate in benefit plans and programs for the [Severance Benefits / Change in Control Severance Benefits]Company’s employees (including without limitation paid vacation, but this Agreement remains valid. Moreoverretirement plans, you will not be entitled to bonus plans, the [Severance Benefits / Change in Control Severance Benefits] employee stock purchase plan and will pay them back to the Company if you have already received them, if you dispute the validity of part or all of this Agreement, for example the validity of the general release and waiver of claims and covenant not to ▇▇▇ set forth belowother compensation plans).

Separation Compensation. In exchange for your signing the severance agreement to the general and release and waiver of claims attached hereto as Addendum A (the “Release”) and covenant not to ▇▇▇ set forth below and your other promises hereinthe Consulting Agreement (as defined below), the Company agrees that: (a) the Company will retain you as a consultant pursuant to provide you with the [Severance Benefits / Change in Control Severance Benefits] Consulting Agreement (as defined below) during the six month period following the Separation Date (the “Separation Period”); (b) during the Separation Period the Company will pay you monthly severance equal to your current salary level of $20,833.34 per month (the “Monthly Severance”), less applicable withholding taxes provided however, that the Company has no duty to continue to pay you the Monthly Severance in the employment contractevent that you engage in New Employment (as defined below), provided the Company will pay you a prorated portion of any Monthly Severance up to the date of commencement of New Employment; and (c) on the Separation Date, the Company will accelerate the vesting of your outstanding options to purchase shares of the Company’s common stock such that you will become immediately vested in the number of shares that would have vested in the six months following the last date of the month in which the Separation Date occurs (“Accelerated Vesting”), but in no event for more than the number of shares subject to a particular option grant provided however, that you will not be entitled to further vesting or acceleration of your options to purchase shares of the Company’s common stock after the Accelerated Vesting on the Separation Date. You may exercise your options to purchase shares of the Company’s common stock that may have vested as of the Separation Date at any time before the ninetieth day following the Separation Date. For purposes of this Agreement “New Employment” shall mean being paid to work by an employer or firm other than the Company (whether as an employee or consultant) for 20 or more hours per week. In exchange, by signing below, you agree: (a) to, upon your termination, execute and not to revoke the Release; (b) to provide consulting services to the Company during the Separation Period pursuant to the Consulting Agreement dated [insert date]August 17, 20[__], 2004 by and between you and the CompanyCompany (the “Consulting Agreement”). By signing below; and (c) that, at any point in time following the end of your obligation to provide consulting services under the Consulting Agreement, you will assist the Company as reasonably necessary with any reviews, investigations or examinations of the Company’s financial and accounting results, policies, practices and other matters during your period of employment with the Company; and (d) acknowledge that you are receiving the separation compensation outlined in this paragraph section in consideration for waiving your rights right to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation. The Company will pay the [Severance Benefits / Change in Control Severance Benefits] in the amount Letter Agreement. In addition, except as expressly set forth in this paragraph and except your receipt of CHF [XXX] gross in accordance with Section 3.5 [and Section 7] of your employment contractPayments described under the paragraph 3, if you do not dispute that the contract ended on August 17, 2004 Page 3 following the Separation Date set in Section 1 above and if you confirm once again in writing your consent to this Agreement after [insert date], but before [insert date]. The payment of the first instalment of the [Severance Benefits / Change in Control Severance Benefits] will be made within 30 days of the receipt of the written confirmation to the bank account used by the Company for salary payments. If, for any reason you dispute that the contract ended on the Separation Date set in Section 1 above, at the latest, and/or if you do not confirm once again in writing your consent to this Agreement in due timeDate, you will not no longer be entitled eligible to participate in benefit plans and programs for the [Severance Benefits / Change in Control Severance Benefits]Company’s employees (including without limitation paid vacation, but this Agreement remains valid. Moreoverretirement plans, you will not be entitled to bonus plans, the [Severance Benefits / Change in Control Severance Benefits] employee stock purchase plan and will pay them back to the Company if you have already received them, if you dispute the validity of part or all of this Agreement, for example the validity of the general release and waiver of claims and covenant not to ▇▇▇ set forth belowother compensation plans).