Additional Consultant Assistance from Separation Agreement and Release of All Claims
This Confidential Separation Agreement and Release of All Claims (Agreement) is entered into this 7th day of April, 2008, by and between William J. Putney (Mr. Putney), on the one hand, and MoneyGram Payment Systems, Inc. (MoneyGram) and Long Lake Partners, LLC (LLP), including all of their respective parent organizations, holding companies, predecessors, insurers, contractors, divisions, affiliates, related companies and joint ventures, business units, subsidiaries, and successors, its current or former officers, directors, employees, contractors, agents, heirs, legal counsel, suppliers, assigns, personal representatives, agents and partners (collectively referred to as Company).
Additional Consultant Assistance. During the Term of this Agreement, and for a reasonable period of time thereafter, Consultant agrees that he will assist Company with respect to any dispute it may have with any third party or other person (Dispute). After the Term, Consultant agrees to provide up to twenty-five (25) hours per quarter of additional consultant assistance to Company as requested for which additional consultant assistance Company will compensate Consultant at the rate of $175.00 per hour. Consultant shall assist Company by helping Company and/or any of its legal counsel (as Company may designate) respond to, defend against or resolve any Dispute. Specifically, the assistance Consultant may be asked to provide includes, without limitation: (a) providing accurate factual information of which Consultant has personal knowledge regarding any Dispute; (b) assisting Company, its representatives and\or its legal counsel in handling or responding to any issue that may be raised by any person or governmental entity relative to the Company and/or its business, or related to any Dispute, which may include, without limitation, providing accurate testimony in depositions or in any affidavit requested by Company and/or its legal counsel; and (c) maintaining the confidential/privileged nature of any assistance Consultant is asked to provided under this section. Consultant understands and agrees that, in providing assistance requested of him under this section, Company is requesting that Consultant provide accurate and complete statements of any facts or information known to him regarding any Dispute. Consultant also understands and agrees that any request by Company to provide assistance under this section is part of the services Consultant has agreed to provide under the Consulting Agreement and is not subject to additional of other payments of fees or compensation to Consultant. Finally, Consultant understands and agrees that any assistance he provides under this section shall not in any way be influenced by the payment of the Fees under the Consulting Agreement.