Severance Calculation Summary for Ray Pepper
Contract Categories:
Human Resources
›
Severance Agreements
Summary
This document outlines the anticipated severance package for Ray Pepper, contingent upon signing a Separation and Release Agreement. If all conditions are met—including not accepting another position within Jack in the Box or Qdoba, working through the agreed separation date, and maintaining satisfactory performance—Ray Pepper will receive a total severance of $387,000, an 18-month COBRA subsidy or $9,000 cash equivalent, and 12 months of outplacement services. This calculation is not a formal offer or agreement, but an estimate of expected benefits.
EX-10.2.9 2 ex1029.htm EXHIBIT 10.2.9 SEVERANCE CALCULATION Exhibit
Severance Calculation
Contingent on receipt of a signed Separation and Release Agreement
Exhibit 10.2.9
Employee Name | Ray Pepper |
Hire Date | 6/23/97 |
Anticipated Separation Date | 1/4/19 |
Annualized Salary | $258,000.00 |
Baseline Severance | 12 months = $258,000.00 |
Additional Severance based on Tenure at 18 years (At 5 years, 2 weeks per full year of service up to additional 26 weeks’ severance) | 26 weeks =$129,000 |
Total Severance: $387,000 | |
COBRA Subsidy or Cash Equivalent (choose one) (FY19 coverage: Employee only) | 18 months or $9,000 |
Outplacement | 12 months |
You must meet the following conditions in order to receive the severance, Cobra Subsidy/cash and outplacement (as outlined above):
• | Have not accepted a position within Jack in the Box or Qdoba |
• | Actively working through agreed separation date |
• | Have satisfactory performance |
• | Have a signed Separation and Release Agreement |
Please note that this represents the severance calculation that we anticipate you would receive and does not constitute a formal offer or agreement.
