Separation Agreement between Focal and Peter Jarrett

Summary

This agreement outlines the terms of separation for Peter Jarrett if his employment with Focal is terminated for reasons other than cause. If terminated, Peter will receive three months of salary continuation, continued benefits, ongoing stock option vesting, and outplacement services up to $10,000. After three months, his employment ends, and he will be paid for unused vacation. He may continue medical and dental coverage through COBRA for up to 18 months, with Focal covering premiums for the first three months. To receive these benefits, Peter must sign a release of liability for Focal.

EX-10.2 3 a2030510zex-10_2.txt EXHIBIT 10.2 [Logo] TO: Peter Jarrett FROM: Robert DePasqua RE: Separation Agreement DATE: 5/17/2000 - ------------------------------------------------------------------------------- As a result of your appointment to the Operations Committee, the following separation agreement is now included in your benefits package. In the event that the Company terminates your employment for any reason other than "cause", you will be entitled to the following separation package: - - You will be notified in writing that your employment is being terminated. An effective date will be identified. - - You will receive three months salary continuation, from the effective date, during which: - You will remain an employee on "inactive" status whereby your benefits will continue as usual, - You will no longer be present at the Company, - Your stock options will continue to vest as usual, - You will be provided with Outplacement Services at a cost not to exceed $10,000. - - Your employment with the Company will terminate at the completion of your three months of salary continuation. Your last paycheck will include earned, unused vacation time in accordance with Company policy. - - From your date of termination, you will have the option of continuing your medical and dental coverage through COBRA for up to 18 months. For the first 3 months of COBRA, if you (and your eligible dependents) are uninsured, Focal will pay the entire premium cost. Beginning with the fourth month, you will be responsible for the entire premium. - - To receive this separation package, you will be required to sign a document that releases Focal from any liability with regard to your employment.