Severance Arrangement Memorandum between Home Products International and Joseph Lacambra

Contract Categories: Human Resources › Severance Agreements
Summary

This memorandum outlines the severance terms between Home Products International and Joseph Lacambra. If Mr. Lacambra is terminated without cause, he will receive six months of his annual base salary, paid out over six months through regular payroll. The agreement is effective as of August 23, 2001, and is intended to clarify the company's obligations in the event of a no-cause termination.

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EX-10.31 11 dex1031.txt EMPLOYMENT ARRANGEMENT BETWEEN THE COMPANY AND JOSEPH LACAMBRA Exhibit 10.31 [LOGO OF HOME PRODUCTS INTERNATIONAL.] EXECUTIVE MEMORANDUM JAMES R. TENNANT DATE: August 23, 2001 TO: Joe Lacambra SUBJECT: Severance In connection with your annual review which we have just completed, and per our agreement, this memo details your severance arrangement with HPI. In the event that you are terminated without cause, your severance will be six months of your annual base salary paid out over six months through normal payroll. /s/ James R. Tennant