Summary of Severance Benefits for Ray Pepper, General Counsel, dated August 8, 2018
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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.
