Retirement Transition Agreement between National Research Corporation and Kevin Karas

Contract Categories: Human Resources › Retirement Agreements
Summary

This agreement is between National Research Corporation and Kevin Karas, who is retiring effective March 31, 2024. The Company will pay Mr. Karas any earned but unpaid salary and unused paid time off, plus the equivalent of one year’s base salary in biweekly installments, and will cover health insurance for him and his family for one year after retirement. To receive these benefits, Mr. Karas must sign a Release of Claims after his retirement date. The agreement confirms that Mr. Karas understands and accepts its terms voluntarily.

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EX-10.1 2 ex_662393.htm EXHIBIT 10.1 ex_662393.htm

Exhibit 10.1

 

Retirement Transition Agreement

 

February 8, 2024

 

 

Kevin Karas

11003 Fairway Drive

Omaha, NE 68136

 

Re: Retirement Transition Agreement

 

Dear Kevin:

 

This letter is the Retirement Transition Agreement (the “Agreement”) between you and National Research Corporation (the “Company”).

 

Retirement Date

You have provided notice to the Company’s Board of Directors on February 8, 2024 that you intend to retire effective March 31, 2024 (the “Retirement Date”).

 

Purpose of Agreement

The Agreement sets forth the post-retirement benefits to be provided and any conditions required to receive those benefits.

 

Benefits

 

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The Company shall pay you any accrued but unpaid base salary that you have earned through your Retirement Date including all accrued but unused paid time off.
 

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You will receive the equivalent to twelve (12) months of your current base salary, to be paid in biweekly installments on the Company’s standard pay day for one year after your Retirement Date.
 

-

The Company will pay for health insurance benefits for you and your family for one year after your Retirement Date.

 

Release of Claims

As a condition to receiving the benefits under the second and third bullets above, you agree to execute and deliver a signed Release of Claims, in the form attached hereto as Exhibit A, no earlier than your Retirement Date.

 

 

Acknowledgement and Certifications

You acknowledge and certify that:

 

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You have read and you understand all of the terms of this Agreement;
 

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You are signing this Agreement knowingly and voluntarily;
 

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You have had the opportunity to consult with an attorney before signing this Agreement; and
 

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You and the Company agree that there is good and sufficient mutual consideration for each of the terms and conditions in this Agreement.

 

 
 

 

If this agreement is acceptable, please sign below and return the original to me.

 

Sincerely,

 

National Research Corporation

 

 

By:      /s/Mike Hays                            

Mike Hays, CEO

 

Agreed:

 

            /s/Kevin Karas                         

Kevin Karas