Retirement and Consulting Agreement between Donald E. Merz and National Dentex Corporation (January 2, 2008)

Contract Categories: Human Resources › Retirement Agreements
Summary

Donald E. Merz is retiring from National Dentex Corporation effective January 1, 2008. Under this agreement, he will provide consulting services to the company’s CEO or Board for one year, receiving $100,000 in two installments. Mr. Merz and his wife will continue to receive medical benefits, with National Dentex covering their Medicare B and Blue Cross Blue Shield Medex premiums for life. The agreement is binding on any future successors of National Dentex.

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EX-10.1 2 b68034ndexv10w1.htm RETIREMENT AGREEMENT DONALD E. MERZ, DATED JANUARY 2, 2008 exv10w1  

Exhibit 10.1
CONFIDENTIAL
Retirement Agreement between Donald E. Merz and National Dentex Corporation
It is agreed between the parties that Donald E. Merz is voluntarily retiring from National Dentex effective January 1, 2008.
Mr. Merz will consult for National Dentex Corporation for a one year period by providing consulting services to the CEO and/or the Board of Directors of National Dentex and will be compensated at a rate of $100,000, $50,000 of which will be paid on January 15, 2008 and $50,000 to be paid on July 15, 2008.
Mr. Merz and his wife, Joan Merz, will have a continuation of Medical Benefits as follows:
Mr. and Mrs. Merz are both currently signed up for Medicare A. They will, within the appropriate timeframe, sign up for Medicare B.
Mr. and Mrs. Merz will apply for the Blue Cross Blue Shield Medex of Massachusetts Group Plan. National Dentex Corporation agrees that it will reimburse Mr. and Mrs. Merz for the premiums associated with Medicare B for the rest of their lives and National Dentex will pay the premiums for the Blue Cross Blue Shield of Massachusetts Group Medex Plan for the rest of their lives.
This Agreement is binding upon any successors to National Dentex Corporation.
         
Agreed and Accepted:
  Agreed and Accepted:    
 
/s/ David L. Brown
  /s/ Donald E. Merz    
         
National Dentex Corporation
        
By: David L. Brown
  Donald E. Merz    
       President and Chief Executive Officer
        
 
        
Dated: 1/2/08
  Dated: 1/2/08