(b) Subject to Executive’s execution of this Agreement, execution and non-revocation of the Post-Employment Release attached hereto as Exhibit A following the Termination Date (in accordance with the terms of Exhibit A), and compliance with this Agreement, the Post-Employment Release, and the Surviving Provisions, the Company will provide Executive with the following additional consideration:
(i) The Company will pay Executive an amount equal to $1,687,500, less applicable withholdings and deduction, which is equal to the portion of the Retention Bonus (as defined in the Retention Bonus Agreement by and between the Company and Executive, dated December 15, 2023 (the “Retention Bonus Agreement”)) that Executive was scheduled to receive on September 15, 2024, which will be paid in a lump sum payment within sixty (60) days of the Termination Date;
(ii) The Company will pay Executive an amount equal to $527,152, less applicable withholdings and deductions, which will be paid in a lump sum payment within sixty (60) days of the Termination Date;
(iii) As of the Post-Employment Release Effective Date (as defined in the Post-Employment Release attached hereto as Exhibit A), all restrictions will lapse with respect to the 15,000 outstanding unvested Restricted Stock Units (as defined in the Company’s 2021 Management Incentive Plan, as amended from time to time (the “Plan”)) granted pursuant to that certain Restricted Stock Unit Award Agreement by and between the Company and Executive, dated March 28, 2022 (the “RSU Agreement”) and such Restricted Stock Units shall vest, and the Restricted Stock Units will otherwise continue to be governed by the RSU Agreement and the Plan; and
3. Supplemental Executive Retirement Plan. The Company will pay Executive the Executive’s account balance under the Company’s Supplemental Executive Retirement Plan, as amended from time to time (the “SERP”), subject to and in accordance with the terms and conditions the SERP and any participation agreement thereunder, if appliable.
4. Release of the Company. In exchange for the consideration provided to Executive pursuant to this Agreement, which Executive acknowledges is fair and sufficient consideration, Executive, individually and on behalf of Executive’s successors, assigns, attorneys, and all those entitled to assert Executive’s rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, employees, agents, fiduciaries, parent corporations, subsidiaries, Affiliates, estates, successors, assigns, and attorneys (the “Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements, promises, demands, claims for attorney’s fees and costs, or liabilities whatsoever (collectively, “Claims”), in law or in equity, which Executive ever had or now has against the Released Parties, including, without limitation, any Claims arising by reason of or in any way connected with any employment relationship which existed between the Company or any of its Affiliates and Executive. It is understood and agreed that this Agreement is intended to cover all Claims, whether known or unknown, of any nature whatsoever, including those which may be traced either directly or indirectly to the aforesaid employment relationship, or the termination of that relationship, that Executive has, had, or purports to have, from the beginning of time to the date of this Agreement, and including but not limited to Claims for employment discrimination under federal or state law; Claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2000(e), et seq., the Americans With Disabilities Act, 42 U.S.C. § 12101 et seq.; or the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq.; Claims for statutory or common law wrongful discharge; Claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201 et seq.; Claims under any contracts, agreements, or understandings Executive may
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