Resignation and Severance Agreement between Angela R. Pinette and Applied Innovation Inc.

Contract Categories: Human Resources › Separation Agreements
Summary

Angela R. Pinette resigns as Vice President, Sales and Marketing of Applied Innovation Inc. and any other positions held with the company or its subsidiaries, effective July 7, 2006. The company agrees to treat her resignation as a termination without cause, making her eligible for severance benefits as outlined in Section 9(d) of her Employment Agreement dated October 4, 2004. The agreement is accepted by Applied Innovation Inc. on July 11, 2006.

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EX-10.3 4 l21253aexv10w3.htm EX-10.3 EX-10.3  

Exhibit 10.3
July 7, 2006
The Board of Directors
Gentlemen:
I hereby resign as Vice President, Sales and Marketing of Applied Innovation Inc. (Applied), and any other offices I may hold with Applied or any of its subsidiaries effective this date.
I understand that this resignation will be treated as a termination without cause by Applied and that I shall be entitled to the severance benefit provided under Section 9(d) of my Employment Agreement dated October 4, 2004.
         
  Sincerely,
 		  
  /s/ Angela R. Pinette    
     
  Angela R. Pinette   
 
Accepted and agreed to as of
July 11, 2006
Applied Innovation Inc.
/s/ William H. Largent
     
By:
  William H. Largent
 
  President and Chief Executive Officer