Retirement Agreement and General Release between David Gamsey and First Advantage Corporation
This agreement is between David Gamsey and First Advantage Corporation. It sets the terms for Mr. Gamsey’s retirement, including his last day of employment on December 1, 2024, a transitional period to assist with the CFO transition, and details on compensation, bonuses, and the vesting of equity awards. Mr. Gamsey agrees to return company property, uphold certain restrictive covenants, and releases the company from future claims. The agreement also outlines conditions for receiving benefits, such as not breaching restrictive covenants and signing a release of claims.
Exhibit 10.1
David Gamsey
This Retirement Agreement and General Release of all Claims (this “Agreement”) is entered into by David Gamsey (the “Executive”) and First Advantage Corporation (the “Employer”), on August 7, 2024.
WHEREAS the Executive is currently employed by the Employer pursuant to the terms of that certain letter agreement between the Executive and the Employer, dated December 17, 2015 (the “Employment Letter”);
WHEREAS, the Executive and the Employer have mutually agreed that the Executive’s employment with the Employer will terminate effective as of the Termination Date (as defined below) and that prior to the Termination Date, Executive will remain employed by the Employer pursuant to the terms of this Agreement; and
WHEREAS the Executive will step down from the position of Executive Vice President and Chief Financial Officer on November 8, 2024 and shall remain as an employee for the period beginning on November 8, 2024 and ending on the Termination Date (such period, the “Transitional Employment Period”) in order to assist with the transition to the successor Chief Financial Officer. There will be no change to the Executive’s base salary and benefits during the Transitional Employment Period.
NOW, THEREFORE, in consideration of the payments described in Section 1 below to be provided to the Executive, the receipt and sufficiency of which are hereby acknowledged, the Executive and the Employer agree as follows:
The Executive understands that by entering into this Agreement he shall be limiting the availability of certain remedies that he may have against the Employer and limiting also his ability to pursue certain claims against the Employer.
THE EXECUTIVE ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT AND THAT HE FULLY KNOWS, UNDERSTANDS AND APPRECIATES ITS CONTENTS, AND THAT HE HEREBY EXECUTES THE SAME AND MAKES THIS AGREEMENT AND THE RELEASE AND AGREEMENTS PROVIDED FOR HEREIN VOLUNTARILY AND OF HIS OWN FREE WILL.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
FIRST ADVANTAGE CORPORATION | |
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By: | /s/ Bret Jardine |
David Gamsey | |
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/s/ David Gamsey | |
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Dated: | August 7, 2024 |
Exhibit A
RELEASE AGREEMENT
THIS GENERAL RELEASE OF ALL CLAIMS (this “Release Agreement”) is entered into by David Garnsey (the “Executive”) and First Advantage Corporation (the “Employer”), effective as of the date listed below under the Executive’s signature.
WHEREAS, the Executive previously entered into the Retirement Agreement and General Release of all Claims, dated [ ], 2024 (the “Retirement Agreement”); and
WHEREAS, the Executive’s employment with the Employer terminated effective as of December 1, 2024 (the “Termination Date”).
NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Release Agreement and other good and valuable consideration, the Executive and the Employer hereby agree as follows:
The Executive understands that by entering into this Release Agreement he shall be limiting the availability of certain remedies that he may have against the Employer and limiting also his ability to pursue certain claims against the Employer.
THE EXECUTIVE ACKNOWLEDGES THAT HE HAS READ THIS RELEASE AGREEMENT AND THAT HE FULLY KNOWS, UNDERSTANDS AND APPRECIATES ITS CONTENTS, AND THAT HE HEREBY EXECUTES THE SAME AND MAKES THIS RELEASE AGREEMENT AND THE RELEASE AND AGREEMENTS PROVIDED FOR HEREIN VOLUNTARILY AND OF HIS OWN FREE WILL.
IN WITNESS WHEREOF, the parties have executed this Release Agreement as of the date set forth below.
FIRST ADVANTAGE CORPORATION | |
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By: |
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David Gamsey | |
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Dated: |
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