Personal Leave of Absence and Severance Benefit Adjustment Letter Agreement between Eric Kelly (President and CEO) and Christopher Gopal
This letter agreement, dated July 15, 2010, is between Eric Kelly, President and CEO, and Christopher Gopal, Vice President of Worldwide Operations and Support Services. It approves Christopher Gopal's immediate personal leave of absence, during which he will continue to receive his regular salary and benefits as outlined in his employment letter. However, each day of leave will reduce his severance and COBRA benefits accordingly. Building and system access will be suspended during the leave, and Gopal must coordinate with HR regarding reimbursements and benefits. The agreement is acknowledged and accepted by Gopal.
Exhibit 10.3
July 15, 2010
Christopher Gopal
Vice President, WW Operations and Support Services
Dear Chris;
As we discussed and agreed, I am approving your request for a personal leave of absence. The leave will take immediate effect and I will assume responsibilities for worldwide operations. I will also grant use of the severance and benefits clause outlined in your employment letter to allow you to continue your normal biweekly salary and full benefits during this period of absence.
In your employment letter you were approved six (6) months of base pay plus six (6) months of COBRA. For each day of your leave, we will deduct one day of salary from your severance benefit and for each month of leave, we will deduct one month of your COBRA benefit covering medical, dental, and vision. During your absence you will retain the Executive Reimbursement Program benefit; please continue to work with Veritta Wells, HR Director, regarding reimbursement.
During your absence, both building and system access will be removed. Please meet with Veritta Wells today and she will take you through this process and review any questions regarding benefits.
Chris, I am appreciative of your efforts and wish you the best during this period of absence.
| Sincerely, |
| /s/ Eric Kelly |
| Eric Kelly |
| President and CEO |
| Acceptance: | /s/ Christopher Gopal | Date: | 7/15/10 | |||||
| Christopher Gopal |
By signing, I understand and acknowledge the terms of this agreement as outlined above.
