Termination and Release Agreement between Chesapeake Corporation and Employee (August 1, 2001)

Summary

Chesapeake Corporation and the employee, Thomas A. Smith, agree to terminate their Executive Employment Agreement dated September 13, 1999. By signing this document, both parties release each other from all obligations and liabilities under the previous agreement. This termination and release is part of the Chesapeake Corporation Voluntary Separation Program for Eligible Salaried Employees. Both parties confirm their understanding and acceptance of these terms by signing the agreement on August 1, 2001.

EX-10.4 7 q2exhibit10_4.htm chesapeake design non-compete w/geo

 

 

 

 

 

TERMINATION AND RELEASE

 

This Termination and Release ("Release") is entered into on this 1st of August, 2001 by and between Chesapeake Corporation ("Company") and the employee signing below ("Employee"). In consideration of the mutual promises and other consideration described in the Chesapeake Corporation Voluntary Separation Program for Eligible Salaried Employees Agreement and General Release, which Employee has executed, Company and Employee agree as follows:

1. Upon the signing of this Release by Company and Employee, the Executive Employment Agreement dated September 13, 1999 ("Agreement") is terminated, and each of the parties thereto shall be deemed to have released and discharged the other from all obligations and liabilities under the Agreement.

2. By signing this Release, Company and Employee acknowledge that they understand it and agree to its terms.

 

 

 

 

 

 

/s/ John F. Gillespie                             

 

/s/ Thomas A. Smith                    

Chesapeake Corporation

   
       

BY:

John F. Gillespie

 

Thomas A. Smith

       

TITLE:

Senior Vice President -

 

Vice President - Human Resources

 

Human Resources &

   
 

& Organizational Development

 

Vice President - Human Resources