Severance Agreement between Russ Berrie and Company, Inc. and John D. Wille dated March 22, 2006
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Summary
This agreement between Russ Berrie and Company, Inc. and John D. Wille states that if Mr. Wille is terminated without cause, he will receive all severance benefits under the company's policy for twelve months, except for automobile expense reimbursement, which follows the policy's terms. If Mr. Wille finds new employment during months seven to twelve of the severance period, his severance benefits will end when the new job begins. The agreement cannot be changed without Mr. Wille's written consent and does not reduce any other company benefits he is entitled to.
EX-10.104 2 y18084aexv10w104.txt AGREEMENT DATED MARCH 22, 2006 Exhibit 10.104 Russ Berrie and Company, Inc. 111 Bauer Drive Oakland, NJ 07436 ###-###-#### ###-###-#### March 22, 2006 Mr. John D. Wille c/o Russ Berrie and Company, Inc. 111 Bauer Drive Oakland, NJ 07436 Dear John: This letter serves to confirm that in the event that your employment with Russ Berrie and Company, Inc. (the "Company") is terminated by the Company without cause, then notwithstanding any provision of the Company's Severance Policy for Domestic Vice Presidents (and Above) (the "Policy") to the contrary, you are entitled to all of the benefits of the Policy for a period of twelve (12) months, except for the reimbursement of automobile expenses, which shall continue as provided in the Policy; provided, however, that in the event that you obtain gainful employment at any time during months seven (7) through twelve (12) of such severance period, then the severance benefits will be terminated upon the commencement of such employment. The terms of the preceding paragraph may not be amended or modified by the Company without your written consent. Nothing in the preceding paragraph shall be construed to reduce any benefits to which you would otherwise be entitled under any benefit program of the Company. Very truly yours, /s/ Andrew R. Gatto ------------------- Andrew R. Gatto President and CEO ACCEPTED AND AGREED /s/ John D. Wille - ----------------- John D. Wille Date: 3/23/06
