Special Severance Protection Memorandum for John Oliver

Contract Categories: Human Resources › Severance Agreements
Summary

This memorandum from Kenneth T. Neilson to John Oliver confirms that, in recognition of his contributions, the company’s Board has approved an increased severance payment. If John Oliver’s position is eliminated following a change in control of the company, he will receive severance equal to one year’s salary. The memo clarifies that this protection is not confirmation of any rumors about changes at the company, but is intended to provide reassurance and acknowledge his service.

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EX-10.1 2 ex101.htm

 

 

Exhibit 10.1

 

 

 

 

 

MEMORANDUM

 

To:

Mr. John Oliver

 

From:

Kenneth T. Neilson

 

Date:

September 3, 2003

 

Subject:

Special Severance Protection

 

 

The Board is aware and appreciates the contributions you have made to the Company in the performance of your responsibilities. In recognition of your contributions and to ease any concerns you may have while rumors are circulating, the Board has approved an increased severance payment to one year’s salary should your position be eliminated after a change in control.

Please do not construe this increased protection as indicating confirmation that any of the circulating rumors are true. We only want you to know that your efforts are appreciated.

 

________________________________

Kenneth T. Neilson