Release and Severance Agreement Sample Contracts

EXECUTIVE EMPLOYMENT AGREEMENT
Release and Severance Agreement • September 29th, 2008 • Royal Financial, Inc. • Savings institutions, not federally chartered • Illinois

THIS AGREEMENT, made and entered into as of January 3, 2008 (the “Effective Date”), by and among Royal Financial, Inc. (hereinafter referred to as “Royal Financial”), Royal Savings Bank (the “Bank” and together with Royal Financial, hereinafter the “Employer”), and Jodi A. Ojeda (hereinafter called the “Executive”).

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EMPLOYMENT AGREEMENT
Release and Severance Agreement • February 22nd, 2023 • Old National Bancorp /In/ • National commercial banks • Illinois

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made by and between FIRST MIDWEST BANCORP, INC. (“Company”) and MARK G. SANDER (“Executive”), effective as of January 18, 2019 (“Effective Date”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • March 16th, 2011 • Federal Signal Corp /De/ • Motor vehicles & passenger car bodies • Illinois

This Release and Severance Agreement (the “Agreement”) will confirm the understanding of Federal Signal Corporation and Jennifer M. Erfurth (“Employee”) in connection with the termination of Employee’s employment with Federal Signal Corporation (the “Company”). We have reached Agreement upon the following arrangements.

Turning Point Brands. Inc. Louisville, KY 40229
Release and Severance Agreement • March 24th, 2021 • Turning Point Brands, Inc. • Tobacco products

As discussed, Turning Point Brands, Inc., together with any successor thereto ("Turning Point" and, together with its applicable employing subsidiaries, the "Company"), agrees to retain your services on the terms, provisions and conditions set forth in this employment letter (this "Agreement"). If you find these terms, provisions and conditions acceptable, please sign this Agreement where indicated and return it to me as soon as possible. It will become effective on May 1, 2021 (the "Effective Date"). As of the Effective Date, this Agreement shall supersede and replace, in its entirety. any prior agreement by and between you and Turning Point and any of its subsidiaries (the "Prior Agreement"), and you shall no longer have any rights or benefits thereunder.

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • March 12th, 2021 • Lexicon Pharmaceuticals, Inc. • Pharmaceutical preparations • Texas

This Release and Severance Agreement (“Agreement”) is being entered into by the individual executing this Agreement below (“Employee”) and Lexicon Pharmaceuticals Inc. (“Employer”) (collectively, the “Parties”) in order to further the mutually desired terms and conditions set forth herein:

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • February 25th, 2010 • Insight Enterprises Inc • Retail-catalog & mail-order houses • Arizona

The parties to this Release and Severance Agreement (the “Agreement”) are Gary M. Glandon (“Executive”) and Insight Enterprises, Inc., a Delaware corporation (the “Company”).

RECITALS:
Release and Severance Agreement • March 29th, 2002 • Meadowbrook Insurance Group Inc • Fire, marine & casualty insurance • Michigan
RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • March 28th, 2002 • Prime Medical Services Inc /Tx/ • Services-misc health & allied services, nec • Texas
Turning Point Brands. Inc. Louisville, KY 40229
Release and Severance Agreement • March 12th, 2024 • Turning Point Brands, Inc. • Tobacco products

As discussed, Turning Point Brands, Inc., together with any successor thereto ("Turning Point" and, together with its applicable employing subsidiaries, the "Company"), agrees to retain your services on the terms, provisions and conditions set forth in this employment letter (this "Agreement"). If you find these terms, provisions and conditions acceptable, please sign this Agreement where indicated and return it to me as soon as possible. This Agreement will become effective on the date on which you commence employment with the Company, which is expected to occur no later than April 1, 2024 (the "Effective Date"). For the avoidance of doubt, unless otherwise agreed to by the parties in writing, if the Effective Date does not occur for any reason by April 1, 2024, then this Agreement shall be void ab initio, and the parties shall have no rights or obligations to each other arising hereunder.

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • August 13th, 2007 • Environmental Power Corp • Cogeneration services & small power producers • New York

This RELEASE AND SEVERANCE AGREEMENT is made and entered into this 9 day of May, 2007, by and between John O’Neill (“Employee”) and Environmental Power Corporation (together with its former, current and future parents, agents, officers, directors, employees, successors, predecessors, and affiliated companies, the “Company”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • October 5th, 2011 • Glori Energy Inc.

THIS RELEASE AND SEVERANCE AGREEMENT (“Agreement”) is entered into between Glori Oil Limited, its parents, subsidiaries, operating divisions, and affiliates, their officers, directors, trustees, and employees (collectively “Company”) and Bhupendra Soni (“Employee”). Company and Employee (the “Parties”) wish to define the terms of Employee’s exit from Company. Therefore, the Parties hereby agree as follows:

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • August 11th, 2008 • Insight Enterprises Inc • Retail-catalog & mail-order houses • Arizona

The parties to this Release and Severance Agreement (the “Agreement”) are Catherine Eckstein (“Employee”) and Insight Enterprises, Inc. (the “Company”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • February 27th, 2008 • Federal Signal Corp /De/ • Motor vehicles & passenger car bodies • Delaware

This Release and Severance Agreement (the “Agreement”) will confirm the understanding of Federal Signal Corporation and Robert D. Welding (with his heirs, beneficiaries, executors, administrators, attorneys, successors and assigns, collectively referred to herein as “Employee”) in connection with Employee’s retirement from employment and resignation from all directorships and other positions with Federal Signal Corporation and any of its subsidiaries, benefit plans or trusts associated with such benefit plans (collectively referred to herein as the “Company”). The Company and Employee have reached agreement upon the following arrangements.

RELEASE AND SEVERANCE AGREEMENT BETWEEN ANGELA SHINABARGAR AND BUTLER NATIONAL CORPORATION
Release and Severance Agreement • December 13th, 2013 • Butler National Corp • Services-miscellaneous amusement & recreation

Angela Shinabargar (hereinafter referred to as "Shinabargar") and Butler National Corporation (hereinafter referred to as "Butler") are entering into this Agreement freely and voluntarily in exchange for their respective promises and agreements in this document. Shinabargar and Butler agree that:

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • October 13th, 2016 • New York

This release and severance agreement (this “Agreement”) made and entered into by and between ______(“EMPLOYEE”) and ________ (“COMPANY”) (collectively “the Parties”):

COMPREHENSIVE RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • September 12th, 2005 • Rivoli Bancorp Inc • National commercial banks • Georgia
RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • February 25th, 2010 • Insight Enterprises Inc • Retail-catalog & mail-order houses • Arizona

The parties to this Release and Severance Agreement (the “Agreement”) are Karen K. McGinnis (“Executive”) and Insight Enterprises, Inc., a Delaware corporation (the “Company”).

FEDERAL SIGNAL CORPORATION RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • February 27th, 2009 • Federal Signal Corp /De/ • Motor vehicles & passenger car bodies • Illinois

This Release and Severance Agreement (the “Agreement”) will confirm the understanding of Federal Signal Corporation and Stephanie K. Kushner (“Employee”) in connection with the termination of Employee’s employment with Federal Signal Corporation (the “Company”). We have reached Agreement upon the following arrangements.

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • February 1st, 2006 • Broadwing Corp • Telephone & telegraph apparatus • Maryland

This RELEASE AND SEVERANCE AGREEMENT (“Agreement”) is made and entered into by and between Broadwing Corporation (“the Company”) and David R. Huber (“Dr. Huber”) on this 31st day of January 2006 (the “Effective Date”).

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Amendment to General Release and Severance agreement
Release and Severance Agreement • March 19th, 2021 • U.S. Gold Corp. • Metal mining

This amendment to General Release and Severance Agreement (this “Amendment”) is effective as of March 19, 2021 (the “Effective Date”) and is entered into by and between Edward Karr (the “Employee”) and U.S. Gold Corp., a Nevada corporation (the “Company”). Capitalized terms not otherwise defined herein shall have the meaning given to such terms in that certain General Release and Severance Agreement, which was approved by the Company’s Board of Directors on March 10, 2021, by and between the Employee and the Company (the “Separation Agreement”).

FIRST AMENDMENT TO General Release and Severance AGREEMENT
Release and Severance Agreement • January 6th, 2020 • InspireMD, Inc. • Surgical & medical instruments & apparatus

This FIRST Amendment to General Release and Severance Agreement (this “Amendment”) is made and entered as of this 31st day of December, 2019 (the “Amendment Effective Date”), by and between InspireMD, Inc., a Delaware corporation (the “Company”), and James Barry (the “Executive”) for purposes of amending that certain General Release and Severance Agreement dated as of December 9, 2019, by and between the Company and the Executive (the “Agreement”). Terms used in this Amendment with initial capital letters that are not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.

FEDERAL SIGNAL CORPORATION RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • November 3rd, 2010 • Federal Signal Corp /De/ • Motor vehicles & passenger car bodies • Illinois

This Release and Severance Agreement (the “Agreement”) will confirm the understanding of Federal Signal Corporation and William H. Osborne (“Employee”) in connection with the termination of Employee’s employment with Federal Signal Corporation (the “Company”) and his resignation from the Company’s and any of its subsidiaries’ Boards of Directors. We have reached Agreement upon the following arrangements.

FORM OF MAF BANCORP, INC. AMENDED AND RESTATED SPECIAL TERMINATION AGREEMENT
Release and Severance Agreement • May 10th, 2007 • Maf Bancorp Inc • Savings institution, federally chartered • Delaware

This AGREEMENT, made as of April 19, 1990, as may have been previously amended from time to time, is hereby amended and restated effective as of January 1, 2007, by and between MAF Bancorp, Inc. (the “Company”), a corporation organized under the laws of the State of Delaware with its office at 55th & Holmes Avenue, Clarendon Hills, Illinois, and [EXECUTIVE] (“Executive”). Any reference to “Bank” herein shall mean Mid America Bank, fsb, wholly owned subsidiary of the Company, or any successor thereto.

December 11, 2002 Mr. Robert P. Stiller Green Mountain Coffee Roasters, Inc. 33 Coffee Lane Waterbury, VT 05676 Re: Resignation and Agreement Dear Bob:
Release and Severance Agreement • December 24th, 2002 • Green Mountain Coffee Inc • Miscellaneous food preparations & kindred products • Vermont
RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • November 4th, 2004 • Trex Co Inc • Lumber & wood products (no furniture) • Virginia

This Release and Severance Agreement is made as of July 15, 2004 by and between Trex Company, Inc., a Delaware corporation (“Trex”), and A. Catherine Lawler, residing at 229 Fairfield Drive, Winchester, VA 22602 (“Employee”). The parties, desiring to settle all differences between them, hereby agree as follows:

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • March 8th, 2006 • Trex Co Inc • Lumber & wood products (no furniture) • Virginia

This Release and Severance Agreement (this”Agreement”) is made as of March 6, 2006 by and between Trex Company, Inc., a Delaware corporation (“Trex”), and Philip J. Pifer, an individual residing at 10914 Lake Windermere Drive, Great Falls, VA 22066 (“Employee”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • March 13th, 2006 • Meritage Hospitality Group Inc • Retail-eating places • Michigan

THIS RELEASE AND SEVERANCE AGREEMENT (this “Agreement”) is between Roger L. Zingle, a resident of Michigan whose address is 6132 Pickwood Drive, West Bloomfield, Michigan 48322 (“Zingle”), Meritage Hospitality Group Inc., a Michigan corporation whose address is 3210 Eagle Run Drive, N.E., Suite 100, Grand Rapids, Michigan 49525 (“Meritage”), and OCM Food Service, LLC, d/b/a O’Charley’s of Michigan, a Michigan limited liability company whose address is 3210 Eagle Run Drive, N.E., Suite 100, Grand Rapids, Michigan 49525 (“O’Charley’s of Michigan”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • December 6th, 2007 • Krispy Kreme Doughnuts Inc • Retail-food stores • North Carolina

THIS RELEASE AND SEVERANCE AGREEMENT (the “Agreement”) is made and entered into this the 23 day of August, 2007 by and between Jeff Jervik, of c/o 370 Knollwood, Suite 500, Winston-Salem, NC 27103 (the “Employee”), and Krispy Kreme Doughnut Corporation, a North Carolina corporation, with its principal place of business located in Forsyth County, North Carolina (the “Employer”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • August 12th, 2005 • Environmental Power Corp • Cogeneration services & small power producers • New Hampshire

This RELEASE AND SEVERANCE AGREEMENT is made and entered into this 28th day of July, 2005, by and between R. Jeffrey Macartney (“Macartney”) and Environmental Power Corporation (together with its former, current and future parents, agents, officers, directors, employees, successors, predecessors, and affiliated companies, the “Company”).

RELEASE AND SEVERANCE AGREEMENT
Release and Severance Agreement • August 14th, 2006 • Environmental Power Corp • Cogeneration services & small power producers • New Hampshire

This RELEASE AND SEVERANCE AGREEMENT is made and entered into effective as of the 19th day of May, 2006, by and between Randall L. Hull (“Hull”), on the one hand, and Environmental Power Corporation (“EPC”) and Microgy, Inc. (“Microgy”), on the other hand (EPC and Microgy together, and collectively with their former, current and future parents, agents, officers, directors, employees, successors, predecessors, and affiliated companies, the “Company”).

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