Separation Letter Agreement dated January 11, 2009, between Harman International Industries, Incorporated and Richard Sorota

 

2)

You are 100% vested in your employee contributions and the “basic” employer contribution related to your 401(k) account.  No distribution need be made from the account until age 70 ½ unless you have less than $1,000.00 in your account. If your account balance is less than $1,000.00 you will receive an automatic distribution from the 401(k) plan. If you have any questions regarding your 401(k) account please call Mercer, the Harman 401(k) administrator, at ###-###-####.

 

3)

The basic and supplemental life insurance benefit and the disability insurance benefits that you were entitled to receive during your employment terminate on the Separation Date.

 

4)

Medical, dental and vision benefits under current employee benefit plans in which you now participate will continue through the Separation Date.  As required by the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), you and your dependents will be given an opportunity to continue to participate in the health benefit plans you and your dependents are participating in today.  Please note that the usual limitations of COBRA will apply with respect to the maximum continuation period (usually 18 months).  You will receive a COBRA election form from the Company’s COBRA administrator, ADP.  Unless otherwise stated below, you will be required to pay the full monthly premium cost plus a 2% administrative charge for any COBRA benefit that you elect to continue participating in.  This is not a guaranty or commitment not to change the terms of any such plans.  The Company reserves the right to make any changes in such benefit plans it deems appropriate.

 

5)

Salary Continuation Pay, Benefits & Career Planning:  The Company will initiate for you the following salary continuation pay and benefits as outlined under your Offer Letter once we have received the signed enclosed General Release and Agreement for Receipt of Salary Continuation Pay and Benefits (“Release”).  [Please note that you will not be entitled to the following salary continuation pay & benefits unless you sign the enclosed Release within twenty-one (21) calendar days after you receive it and the seven (7) day revocation period following your execution of the Release has expired.]