Severance Agreement Sample Contracts

Circor International Inc – SEVERANCE AGREEMENT (March 1st, 2019)

WHEREAS, CIRCOR presently employs the Executive in which capacity the Executive serves as Group President, Energy and as an officer and/or director of other direct and indirect subsidiaries of the Company; and

Circor International Inc – SEVERANCE AGREEMENT (March 1st, 2019)

WHEREAS, CIRCOR presently employs the Executive in which capacity the Executive serves as Chief Financial Officer and as an officer and/or director of other direct and indirect subsidiaries of the Company; and

Bryn Mawr Bank Corp – THE BRYN MAWR TRUST COMPANY EXECUTIVE CHANGE-OF-CONTROL SEVERANCE AGREEMENT (March 1st, 2019)

This Agreement made as of [DATE] between The Bryn Mawr Trust Company, a Pennsylvania financial institution, subject to the provisions of the Pennsylvania Banking Code of 1965, as amended (the “Company”), and [NAME] (the “Employee”).

Tracon Pharmaceuticals, Inc. – TRACON PHARMACEUTICALS, INC. SEVERANCE PLAN SEVERANCE AGREEMENT (March 1st, 2019)

This Severance Agreement (the “Agreement”) is entered into effective May 29, 2018 (the “Effective Date”), by and between Mark Wiggins (“you” or “your”) and TRACON Pharmaceuticals, Inc. (the “Company”) pursuant to the TRACON Pharmaceuticals, Inc. Severance Plan (“Plan”).  Capitalized terms used herein but not otherwise defined have the meanings set forth in the Plan.

Hilton Grand Vacations Inc. – HILTON GRAND VACATIONS INC. SEVERANCE AGREEMENT (February 28th, 2019)

THIS SEVERANCE AGREEMENT (the “Agreement”) is entered into effective as of November 28, 2018 (the “Effective Date”), by and between HILTON GRAND VACATIONS INC., a Delaware corporation (the “Company”), and Daniel J. Mathewes (the “Executive”).

Hilton Grand Vacations Inc. – HILTON GRAND VACATIONS INC. SEVERANCE AGREEMENT (February 28th, 2019)

THIS SEVERANCE AGREEMENT (the “Agreement”) is entered into effective as of December 3, 2018 (the “Effective Date”), by and between HILTON GRAND VACATIONS INC., a Delaware corporation (the “Company”), and Gordon Gurnik (the “Executive”).

Forum Energy Technologies, Inc. – SEVERANCE AGREEMENT (February 28th, 2019)

THIS SEVERANCE AGREEMENT (“Agreement”) is made on this 1st day of September, 2018 (the “Effective Date”), by and between Forum Energy Technologies, Inc., a Delaware corporation (the “Company”), and D. Lyle Williams (“Executive”).

ManpowerGroup Inc. – SEVERANCE AGREEMENT BETWEEN RICHARD BUCHBAND AND MANPOWERGROUP INC. as of November 08, 2018 (February 22nd, 2019)
Veoneer, Inc. – CHANGE-IN-CONTROL SEVERANCE AGREEMENT (February 22nd, 2019)

This Change-In-Control Severance Agreement (this “Agreement”), dated January 8, 2019, is made by and between Veoneer Inc., a Delaware corporation (the “Company”), and Mats Backman (the “Executive”). The effective date of this Agreement shall be the effective date of the shall be the date that the Executive commences employment with the Company.

RPT Realty – SEVERANCE AGREEMENT, WAIVER, AND RELEASE (February 21st, 2019)

This Severance Agreement, Waiver, and Release (this “Agreement”) is entered into between Edward Eickhoff and Ramco Properties Trust (the “Trust”) and shall be effective as provided in Paragraph 13. The parties agree as follows:

Commerce Bancshares Inc /Mo/ – 2009 RESTATEMENT OF SEVERANCE AGREEMENT (February 21st, 2019)

THIS AGREEMENT is made and entered into as of the later of the dates set forth next to the signatures on this Agreement by and between                              a Missouri corporation (the “Company”) and                                (the “Executive”).

Xperi Corp – SEVERANCE AGREEMENT (February 20th, 2019)

This Severance Agreement (“Agreement”) is made by and between Xperi Corporation, a Delaware corporation (the “Company”), and Murali Dharan (“Executive”), effective as of October 16, 2017 (such date, the “Effective Date”).  For purposes of this Agreement, the “Company” shall mean the Company and its subsidiaries.

Arista Networks, Inc. – ARISTA NETWORKS, INC. SEVERANCE AGREEMENT (February 15th, 2019)

This Severance Agreement (the “Agreement”) is made and entered into by and between Manny Rivelo (“Executive”) and Arista Networks, Inc., a Delaware corporation (“Company”), effective as of January 8, 2018 (the “Effective Date”).

Polaris Industries Inc/Mn – SEVERANCE AGREEMENT (February 14th, 2019)

THIS SEVERANCE AGREEMENT (the “Agreement”), is made and entered into as of January 29, 2018 between POLARIS INDUSTRIES INC., a Minnesota corporation (the "Company"), and Lucy Clark Dougherty (the "Employee").

Southcross Energy Partners, L.P. – SEVERANCE AGREEMENT (February 6th, 2019)

This Severance Agreement (“Agreement”) is between William Boyer (the “Employee”) and Southcross Energy Partners GP, LLC, a Delaware limited liability company (the “Company”), and is effective as of November 14, 2016 (the “Effective Date”).

Unitil Corp – UNITIL CORPORATION SEVERANCE AGREEMENT (February 4th, 2019)

THIS AGREEMENT, dated this 30th day of January, 2019 made effective as of the date on which a Change in Control (as defined in paragraph 2) occurs, by and among Unitil Corporation (“Unitil”), a New Hampshire corporation, Unitil Service Corp., a New Hampshire corporation and a wholly-owned subsidiary of Unitil (“Subsidiary”) (Unitil and Subsidiary are herein referred to collectively as the “Company”) and Christine L. Vaughan (the “Employee”).

Jones Energy, Inc. – SEVERANCE AGREEMENT (January 14th, 2019)

THIS SEVERANCE AGREEMENT (this “Agreement”) is made effective as of January 1, 2019, by and between Jones Energy, Inc. (the “Company”) and                       (“Employee”).

Acuity Brands Inc – AMENDMENT NO. 1 TO ACUITY BRANDS, INC SEVERANCE AGREEMENT (January 9th, 2019)

THIS AMENDMENT made and entered into as of the 4th day of January, 2019, by and between ACUITY BRANDS, INC. (the “Company”) and LAURENT J. VERNEREY (“Executive”);

Gibraltar Industries, Inc. – RESTRICTIVE COVENANTS AND SEVERANCE AGREEMENT (January 7th, 2019)

THIS AGREEMENT is made by and between Gibraltar Industries, Inc., a Delaware corporation, with offices at 3556 Lake Shore Road, Buffalo, New York 14219 (the “Company”), and William T. Bosway (the “Executive”) on this 17th day of December, 2018 and is effective as of January 2, 2019.

Cortland Bancorp Inc – AMENDED SEVERANCE AGREEMENT (December 28th, 2018)

This AMENDED SEVERANCE AGREEMENT (this “Agreement”) is entered into and is effective as of , 2018 by and between Cortland Bancorp, an Ohio corporation, and David J. Lucido (the “Executive”), Senior Vice President and Chief Financial Officer of Cortland Bancorp and The Cortland Savings and Banking Company, an Ohio-chartered bank and wholly owned subsidiary of Cortland Bancorp (the “Bank”).

Cortland Bancorp Inc – AMENDED SEVERANCE AGREEMENT (December 28th, 2018)

This AMENDED SEVERANCE AGREEMENT (this “Agreement”) is entered into and is effective as of                     , 2018 by and between Cortland Bancorp, an Ohio corporation, and Stanley P. Feret (the “Executive”), Senior Vice President and Chief Lending Officer of The Cortland Savings and Banking Company, an Ohio-chartered bank and wholly owned subsidiary of Cortland Bancorp (the “Bank”).

Forum Energy Technologies, Inc. – SEVERANCE AGREEMENT (December 21st, 2018)

THIS SEVERANCE AGREEMENT (“Agreement”) is made on this 19th day of December, 2018 (the “Effective Date”), by and between Forum Energy Technologies, Inc., a Delaware corporation (the “Company”), and C. Christopher Gaut (“Executive”).

Myers Industries Inc – SEVERANCE AGREEMENT (December 18th, 2018)

THIS SEVERANCE AGREEMENT (this “Agreement”) is entered into effective as of December 11, 2018 between MYERS INDUSTRIES, INC., an Ohio corporation (the “Company”), and Kevin L. Brackman (the “Executive”).

SB/RH Holdings, LLC – SEVERANCE AGREEMENT (November 23rd, 2018)

This Agreement, effective as of February 1, 2016 (the "Effective Date"), is made by and between Spectrum Brands, Inc. (the "Company"), a Delaware corporation, with its World Headquarters located at 3001 Deming Way, Middleton, WI 53562, and Randal Lewis (the "Executive").

Mueller Water Products, Inc. – EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT (November 21st, 2018)

THIS EXECUTIVE CHANGE-IN-CONTROL SEVERANCE AGREEMENT (the “Agreement”) is made and entered into as of July 18, 2018, and is effective as of the Commencement Date set forth in the Employment Agreement (hereinafter defined) (the “Effective Date”), by and between Mueller Water Products, Inc. (the “Company”), a Delaware corporation, and Steven S. Heinrichs (“Executive”).

Repro Med Systems Inc – FORM OF CONDITIONAL SEVERANCE AGREEMENT (November 9th, 2018)

This Conditional Severance Agreement dated November 8, 2018 (the “Agreement”) is between Repro Med Systems, Inc., a New York corporation (the “Company”) and __________________________ (the “Employee”).

Melinta Therapeutics, Inc. /New/ – RE: Severance Agreement (November 7th, 2018)

Effective as of your commencement of employment with Melinta Therapeutics, Inc. (the “Company”), you will be a key member of the senior management team of the Company. As a result, the Company is providing you with the following benefits in consideration of your employment with the Company.

Aileron Therapeutics Inc – SEVERANCE AGREEMENT (November 7th, 2018)

This SEVERANCE AGREEMENT (this “Agreement”) is made and entered into as of September 6, 2018 by and between Manuel C. Alves Aivado, M.D., Ph.D. (“Executive”) and Aileron Therapeutics, Inc. (the “Company”).

Valero Energy Corp/Tx – CHANGE OF CONTROL SEVERANCE AGREEMENT (November 6th, 2018)

CHANGE OF CONTROL SEVERANCE AGREEMENT, dated as of October 31, 2018 (this “Agreement”), by and between Valero Energy Corporation, a Delaware corporation (the “Company”), and Jason W. Fraser (the “Executive”).

Southern National Bancorp of Virginia Inc – CHANGE-IN-CONTROL SEVERANCE AGREEMENT (October 31st, 2018)

This CHANGE-IN-CONTROL SEVERANCE AGREEMENT (this “Agreement”) is made and entered into this 29th day of October, 2018 by and by and between (i) Southern National Bancorp of Virginia, Inc. (the “Company”) and Sonabank (the “Bank”) (collectively, the Company and the Bank shall be referred to as the “Employer”), and Jeffrey L. Karafa (“Employee”), to be effective as of October 29, 2018 (the “Effective Date”).

Acuity Brands Inc – ACUITY BRANDS, INC. SEVERANCE AGREEMENT (October 25th, 2018)

THIS SEVERANCE AGREEMENT (the “Agreement”) is made and entered into as of January 5, 2018, by and between ACUITY BRANDS, INC., a Delaware corporation (the “Company”), and LAURENT J. VERNEREY (the “Executive”).

Unitil Corp – UNITIL CORPORATION SEVERANCE AGREEMENT (October 25th, 2018)

THIS AGREEMENT, dated this [    ] day of [            ], [        ] made effective as of the date on which a Change in Control (as defined in paragraph 2) occurs, by and among Unitil Corporation (“Unitil”), a New Hampshire corporation, Unitil Service Corp., a New Hampshire corporation and a wholly-owned subsidiary of Unitil (“Subsidiary”) (Unitil and Subsidiary are herein referred to collectively as the “Company”) and [                    ] (the “Employee”).

Axalta Coating Systems Ltd. – AMENDMENT TO SECOND AMENDED AND RESTATED EXECUTIVE RESTRICTIVE COVENANT AND SEVERANCE AGREEMENT (October 25th, 2018)

THIS AMENDMENT (“Amendment”) is made effective as of July 25, 2018 (the “Effective Date”) by and among Axalta Coating Systems Ltd., a Bermuda exempted limited liability company (the “Company” and as the context requires the Company shall include the Company’s subsidiaries), Axalta Coating Systems, LLC, a Delaware limited liability company, and Charles W. Shaver (“Executive”) (collectively, the “Parties”).

Hexcel Corp /De/ – AMENDMENT TO THE OFFICER SEVERANCE AGREEMENT (October 22nd, 2018)

This Amendment to the SEVERANCE AGREEMENT of October 2, 2017 (“Amendment”) between HEXCEL CORPORATION, a Delaware corporation with its principal place of business in Stamford, Connecticut (the "Company"), and Patrick Winterlich (the "Officer"), is effective as of June 1, 2018.

Hexcel Corp /De/ – AMENDMENT TO THE OFFICER SEVERANCE AGREEMENT (October 22nd, 2018)

This Amendment to the SEVERANCE AGREEMENT of October 2, 2017 (“Amendment”) between HEXCEL CORPORATION, a Delaware corporation with its principal place of business in Stamford, Connecticut (the "Company"), and Gail E. Lehman (the "Officer"), is effective as of June 1, 2018.