UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 22, 2014
SAFEWAY INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-00041 |
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94-3019135 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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5918 Stoneridge Mall Road, Pleasanton, California |
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94588-3229 |
(Address of principal executive offices) |
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(Zip Code) |
(925) 467-3000
(Registrants telephone number, including area code)
N/A
(Former name or
former address, if changed since last report.)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 22, 2014, the Company entered into a Separation Agreement and General Release of Claims with each of Peter J. Bocian, the Companys
Executive Vice President and Chief Financial Officer, Diane M. Dietz, the Companys Executive Vice President and Chief Marketing Officer and Larree M. Renda, the Companys Executive Vice President (collectively, the Separation
Agreements).
Pursuant to the Separation Agreements, each of the executives named above has agreed to continue his or her employment with the
Company in his or her current capacity until such employment is terminated either by the Company or by the executive (the Severance Date), and the Company has agreed that it will not terminate the executives employment before the
Closing Date (as defined below) unless the termination is for Cause (as the term Cause is defined in the Safeway Inc. Executive Severance Plan).
The Separation Agreements provide that on the closing date of the pending merger between the Company and affiliates of Albertsons LLC (the Closing
Date), Mr. Bocian will be paid the sum of $713,037, Ms. Dietz will be paid the sum of $1,838,099 and Ms. Renda will be paid the sum of $2,243,755, in each case less any applicable withholdings, provided in each case that the
executive has not resigned his or her employment or been terminated for Cause (as the term Cause is defined in the Safeway Inc. Executive Severance Plan) prior to the Closing Date and that the conditions set forth in Paragraph 12 of the
applicable Separation Agreement have been satisfied in order to make such Separation Agreement effective.
The Separation Agreements further provide that
as soon as reasonably practicable following their respective Severance Dates, Mr. Bocian will be paid the sum of $2,072,875, Ms. Dietz will be paid the sum of $2,168,016 and Ms. Renda will be paid the sum of $2,440,070, in each case
less any applicable withholdings, provided in each case that the executives termination of employment does not result from either a termination for Cause by the Company or a resignation without Good Reason by the executive (as the terms
Cause and Good Reason are defined in the Safeway Inc. Executive Severance Plan), and that the executive has executed a release of claims against the Company and the revocation period applicable to such release has expired.
Payments made to the executives pursuant to the Separation Agreements will satisfy in full any obligations the Company may have to the executives under
the Safeway Inc. Executive Severance Plan and the Safeway Inc. Retention Bonus Plan.
Copies of the Separation Agreements are attached to this Current
Report on Form 8-K as Exhibits 10.1, 10.2 and 10.3 and are incorporated herein by reference.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
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10.1 |
Separation Agreement and General Release of Claims between Safeway Inc. and Peter J. Bocian dated October 22, 2014 |
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10.2 |
Separation Agreement and General Release of Claims between Safeway Inc. and Diane M. Dietz dated October 22, 2014 |
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10.3 |
Separation Agreement and General Release of Claims between Safeway Inc. and Larree M. Renda dated October 22, 2014 |
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Safeway Inc. |
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(Registrant) |
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Date: October 24, 2014 |
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By: |
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/s/ Robert A. Gordon |
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Robert A. Gordon |
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Senior Vice President, Secretary & General
Counsel |
EXHIBIT INDEX
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Exhibit No. |
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Exhibit Description |
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10.1 |
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Separation Agreement and General Release of Claims between Safeway Inc. and Peter J. Bocian dated October 22, 2014 |
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10.2 |
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Separation Agreement and General Release of Claims between Safeway Inc. and Diane M. Dietz dated October 22, 2014 |
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10.3 |
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Separation Agreement and General Release of Claims between Safeway Inc. and Larree M. Renda dated October 22, 2014 |
Exhibit 10.1
SEPARATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS
BOCIAN and/or RELEASOR, as used herein, refer to PETER BOCIAN and his heirs, executors, marital community, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Bocian and Safeway desire to terminate their employment relationship on mutually agreeable terms, as set forth in this Separation
Agreement (Agreement or Release); and
WHEREAS Bocian desires to compromise, settle and fully release any and all
claims which he may have against Safeway and/or any other Releasee(s) related in any way to his employment with Safeway, any term or condition of that employment, or the termination of or opportunity to continue that employment;
NOW THEREFORE, Bocian and Safeway freely and voluntarily enter into and execute this Agreement in consideration of the following terms and
conditions:
A. Continued Employment Period. Subject to and in accordance with the terms of this Agreement, Safeway agrees to
employ Bocian in his current capacity of Executive Vice President and Chief Financial Officer (EVP CFO), from the date of the Bocians execution of this Agreement until the date his employment is terminated by Bocian or Safeway
(Severance Date). Subject to and without waiving the provisions of Paragraph 9 below, Safeway further agrees that it will not terminate Bocians employment before the Closing Date unless the termination is for Cause, as those terms
are defined in Paragraph E below. The time period identified in this Paragraph A shall be referred to as the Continued Employment Period. During the Continued Employment Period, Safeway shall have the right in its discretion to place Bocian on Paid
Leave of Absence, during which he will remain eligible for benefits in accordance with Paragraph C, below, and which shall not affect the consideration provided for under this Agreement.
B. Compensation. During the Continued Employment Period, Bocians base salary shall be unchanged from that paid in the EVP
CFO position as of September 1, 2014.
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C. Benefits. During the Continued Employment Period, Bocians retirement, 401(k),
group health (i.e. medical, dental, orthodontia and vision) life insurance, LTD, vacation, and financial planning and tax services benefits shall remain in effect, on the same terms and conditions on which such coverages are made available to
salaried EVP level Safeway employees as of the date of this Agreement, including Bocians payment of any premiums, deductibles or co-payments allocable to him as a benefit plan participant, if any.
D. Bonus. Bocian shall be paid his bonus for services rendered in 2014 based upon the percentage amount, if any, determined by the
Safeway Executive Compensation Committee or its successor for the Company as a whole, without any discretionary or individual reduction.
E. Payments. On the closing date of the pending merger between Safeway and affiliates of Albertsons LLC (the Closing Date),
Bocian shall be paid the sum of $713,037 less any applicable withholdings, provided (a) that Bocian has not resigned or been terminated for cause pursuant to the terms of the Safeway Inc. Executive Severance Plan (Cause) prior to
the Closing Date; and (b) that the conditions set forth in Paragraph 12 have been satisfied in order to make this Agreement effective. As soon as reasonably practicable following the Severance Date, Bocian shall be paid the sum of $2,072,875
less any applicable withholdings, provided (a) that Bocians termination does not result from either a termination for Cause by Safeway or a resignation without Good Reason by Bocian (as the terms Cause and Good
Reason are defined in the Safeway Inc. Executive Severance Plan), and (b) that Bocian has executed at that time the release attached hereto as Exhibit A within 10 days following the Severance Date and the revocation period applicable to
such release has expired; provided further, that any payments due to Bocian under the Safeway Inc. Retention Bonus Plan that become due prior to the Severance Date shall be paid when due and offset the amount to be paid on the Severance Date. The
parties expressly intend and agree that the payments provided for in this Paragraph E (i) satisfy in full Safeways obligations to Bocian under the Safeway Inc. Executive Severance Plan, the Safeway Inc. Retention Bonus Plan, and the offer
of employment letter dated January 23, 2013 that was addressed to Bocian and signed by Robert L. Edwards for Safeway; (ii) extinguish any claim by Bocian for further benefits under the referenced Plans and offer of employment letter; and
(iii) provide him with valuable consideration and benefits in addition to which he is already entitled under the referenced Plans and offer of employment letter, or otherwise.
F. Outside Activities. Prior to the Severance Date, Bocian may serve as a member of the board of directors of any public or private
company or entity so long as such company or entity is not a competitor of, or a party doing business with or seeking to do business with, Safeway, unless expressly permitted by the Companys General Counsel; and his activities during the
Continued Employment Period will otherwise conform to Safeways Code of Business Conduct.
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In consideration of the foregoing, Bocian agrees as follows:
1. Resignation. Bocian agrees to, and hereby does, resign his position as an officer and employee of Safeway on and effective as of the
Severance Date.
2. Standards of Conduct. Bocian acknowledges that throughout the Continued Employment Period he will be subject
to, and he agrees that he will act in accordance with, the employment policies, standards of conduct, and duties of loyalty and confidentiality that apply to management level employees of the Company.
3. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to his employment with Safeway, any status, term or condition of such employment, the termination of that employment, or his opportunity for employment following the Severance Date. This release of claims is expressly intended
to, and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of
1967, as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining
Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting
any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and includes, but is not limited to, any claims by Bocian for: breach of any express or implied written or oral
contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities; unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in
violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in the
Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment Opportunity Commission (EEOC), or any
of its state or local deferral agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement shall be construed to be a waiver by
Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of his
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right to continue any benefit in accordance with the current terms of a benefit plan or Releasors rights, if any, to indemnification granted under any by-law, agreement or charter document
of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action alleging a breach of this Agreement by any
Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or brought, any charge, claim, complaint, civil action, suit or other legal proceeding of any type against any Releasee(s) involving
any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such charge, claim, civil action, suit or other legal proceeding.
Safeway on behalf of itself and all individuals or entities that may claim through it hereby releases and forever discharges Bocian and all of
his assigns, executors, administrators (Bocian Releasees) of and from any and all claims, demands, actions, causes of actions, damages and liabilities (all hereinafter referred to as to Claims), whether or not now known,
suspected or claimed that Safeway ever had, now has, or may hereafter claim to have had against any Bocian Releasees relating in any way to Bocians employment with Safeway, any status or term of his employment, the termination of that
employment, his duties on behalf of Safeway at any time, or his opportunity for employment following the Severance Date. This release is expressly intended to, and does, extend to and include all claims of any nature at law or in equity since the
beginning of time. However, such Release shall not include any claim which results after the effective date of this Agreement or based on any claimed breach of this Agreement.
4. No Pending or Future Lawsuits. Releasor agrees and covenants that he has not filed or brought any lawsuits, administrative
complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative agency. Releasor further represents
that he will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter occurring at any time in the past
concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior to the date of this Release.
Releasor also acknowledges and agrees that upon the payments to be made under this Agreement he has been paid all wages due and owing to him by reason of his employment with Safeway.
5. Covenant Not to Sue. Bocian covenants and agrees never, individually or with any other person or in any way, voluntarily to
commence, aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
6. Sole Right to Claims. Bocian represents and warrants that no other person had or has any interest in the claims referred to in this
Agreement; that he has the sole right and exclusive authority to execute this Agreement; and that he has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to any matter covered by this Agreement.
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7. No Admission of Liability. Bocian acknowledges and understands that the consideration
referred to herein is provided without admission or concession by Releasees, or any of them, of any violation of any law or liability to Bocian; that said consideration satisfies and fully extinguishes any obligations owed to him by any Releasee(s)
under any prior contract or agreement, and that said consideration provides him with valuable benefits in addition to any to which he already is entitled under Safeways employee benefit plans or otherwise.
8. Release of Unknown Claims. Bocian and Safeway expressly waive any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees and Bocian Releasees, Releasor and Safeway expressly acknowledge that this Agreement is intended to include and does include in its effect, without limitation, all claims which Releasor and Safeway does not know or suspect
to exist in his/its favor against any Releasee(s) and Bocian Releasee(s), and that this Agreement expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in this
Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or participating in any investigation by the Equal Employment Opportunity
Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief in connection with such proceeding. Further, it is expressly
understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to or after the effective date of this Agreement, or as a waiver of his right to continue any benefit in
accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including any right that Releasor may have under California Labor Code
Section 2802 to indemnification of Releasors expenses or losses incurred in discharging his duties. However, Releasor acknowledges that he has received reimbursement for all expenses incurred up to the date of his execution of this
Agreement. It is also expressly understood that nothing in this
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Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of this Agreement and/or bringing any complaint claim or action
alleging a breach of this Agreement by the Company or request for indemnification.
9. Amendment and Termination. This Agreement
may not be altered, amended or modified, except by a further written document signed by both Bocian and Safeway. Notwithstanding anything contained herein to the contrary, in the event the Merger Agreement (as defined in the Safeway Inc. Retention
Bonus Plan) is terminated pursuant to its terms, this Agreement shall automatically terminate and become null and void ab initio.
10.
No Other Consideration. Bocian acknowledges and agrees that no consideration other than as provided for in this Agreement has been or will be paid or furnished by any Releasee; that he will make no claim and hereby waives any right he may now
have or may hereafter have, based upon any alleged oral alteration, amendment, modification or any other alleged change in this Agreement made prior to the Effective Date of the Agreement; and that he understands and has freely and voluntarily
entered into and executed this Agreement.
11. Agreement Is Confidential. Releasor covenants and agrees as of the signing of this
Agreement that, except insofar as the terms of this Agreement are publicly disclosed, he will maintain in confidence the discussions, negotiations and other information relating to this Release and that, unless required to do so by subpoena or other
lawful process, and then only to the extent so required, he will not disclose any such information concerning the Release to any person or entity other than his attorneys, immediate family members and tax advisors.
12. Bocians Rights. Bocian understands and agrees that:
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he has a period of forty-five (45) days to consider this Agreement and determine whether he wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by his execution of the Agreement; |
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he is advised carefully to consider the terms of this Agreement and to consult with an attorney of his choice before signing this Agreement; |
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he has a period of seven (7) days after his execution of the Agreement within which he may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation period
has expired; and |
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in the event that Bocian fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Bocian timely exercises the right of revocation provided for in Paragraph 12(d), above, then
Releasees shall be relieved of any and all obligations to Bocian under this Agreement, but all other obligations shall remain without change. |
13. Confidential Information. Releasor covenants and agrees that, without the express written consent of an executive officer of the
Company, he will not at any time reveal any confidential, proprietary information about Safeway, obtained during the course of his employment with Safeway. This means that Releasor agrees that he shall not disclose to any person or entity at any
time or in any manner, directly or indirectly, any information relating to the operations of Safeway which has not been already disclosed to the general public. Releasor also agrees not to disclose any of the Companys Confidential Information
including, but not limited to, the following: all information about employees or former employees; proprietary information and/or trade secrets; any information regarding the Companys operations and pharmacy operations, including without
limitation, information related to its methods, services, pricing, costs, margins, finances, practices, strategies, business plans, agreements, decision-making, systems, technology, policies, procedures, marketing, sales, techniques and processes;
and any other proprietary and/or confidential information relating to the Companys customers, employees, products, services, sales, technologies, or business affairs (collectively, Confidential Information). Releasor agrees that he
will not remove any documents, records, or other information from Company premises containing any such Confidential Information and Releasor acknowledges that such documents, records or other information are the exclusive property of the Company.
14. Cooperation in Lawsuits. Bocian covenants and agrees that he will cooperate fully when and as reasonably required by Safeway
in the defense or prosecution of any claims, charges, complaints or lawsuits that have been or may hereafter be filed by or against Safeway. If such cooperation is required following Bocians resignation of employment, Safeway will indemnify
Bocian in the same manner and to the same extent as if he were still employed by Safeway. Such cooperation will include, but is not limited to, meeting with Safeways counsel and being available for deposition and/or trial testimony upon
reasonable notice. Safeway agrees to reimburse Bocian for reasonable expenses incurred by him in furnishing such cooperation.
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15. Non-Disparagement. Releasor covenants and agrees that during the Continued Employment
Period and, and for a period of two years thereafter, he will not, whether acting for himself or for any third party, disparage the image or reputation of any Releasee(s).
16. Injunctive Relief. Bocian understands and agrees that a breach of any of the covenants set forth in paragraphs 4, 5, 8, 11, 13, 14
and 15, above, shall be a material breach of the Agreement, for which Safeway may, at its sole option: i) immediately cease providing to Bocian any of the benefits provided for in this Agreement; and/or ii) seek injunctive relief, damages,
attorneys fees and costs.
17. Governing Law. The construction, interpretation, and enforcement of this Agreement shall be
governed by the internal laws of the State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
18. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
19. Severability. In case any provision of this Release shall be determined to be invalid, illegal or unenforceable for any reason, the
remaining provisions of this Release shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
20. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
21. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein. In the event this Agreement is
in conflict with or divergent from any other agreement between Bocian and Safeway, the terms of this Agreement shall prevail.
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22. Internal Revenue Code Section 409A. It is intended that this Agreement comply
with, and/or be exempt from, Section 409A of the Internal Revenue Code and the final regulations and official guidance thereunder (Section 409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from
Section 409A. Any right to a series of payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This Agreement shall be administered and interpreted to maximize the short term deferral exemption to
Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of Section 409A) shall be treated as short term deferral and not aggregated with other payments. In
addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax
consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: October 17, 2014 |
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/s/ Peter Bocian |
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Peter Bocian |
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Dated: October 22, 2014 |
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Safeway Inc. |
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/s/ Robert A. Gordon |
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By: |
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Robert A. Gordon |
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Its: |
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Senior Vice President |
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EXHIBIT A
GENERAL RELEASE OF CLAIMS
AND COVENANT NOT TO SUE
BOCIAN and/or RELEASOR, as used herein, refer to PETER BOCIAN and his heirs, executors, marital community, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Bocian desires to compromise, settle and fully release any and all claims which he may have against Safeway and/or any other
Releasee(s) related in any way to his employment with Safeway, any term or condition of that employment, the termination of or opportunity to continue that employment, or his eligibility for benefits under the Safeway Inc. Executive Severance Plan
and the Safeway Inc. Retention Bonus Plan (hereinafter, the Plans);
NOW THEREFORE, Bocian freely and voluntarily enters into
and executes this General Release of Claims and Covenant Not to Sue (Release or Agreement) in consideration of the following terms and conditions:
A. Severance Date Payment. At the time and subject to the conditions provided for in Paragraph E of the Separation Agreement and
General Release of Claims entered into by and between Bocian and Safeway on or about October 22, 2014, and upon condition that Bocian does not timely exercise the right of revocation provided for in Paragraph 8(d), below, Safeway will make a
lump sum severance payment to Bocian in the amount of $2,072,875, less applicable tax withholdings and less any Retention Bonus payments previously received. Releasor understands and agrees that the payment provided for in this Paragraph satisfies
in full Safeways obligations to Releasor under the Plans and extinguishes any claim by Releasor for further benefits under the Plans.
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In consideration of the foregoing, Bocian agrees as follows:
1. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to his employment with Safeway, any status, term or condition of such employment, the termination of that employment, or his opportunity for employment following the closing date of the pending merger between Safeway and
affiliates of Albertsons LLC (the Closing Date). This release of claims is expressly intended to, and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay
Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of 1967, as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers
Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the
California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and
includes, but is not limited to, any claims by Bocian for: breach of any express or implied written or oral contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities;
unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract
and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly
understood that nothing in the Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment
Opportunity Commission (EEOC), or any of its state or local deferral agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement
shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of his right to continue any benefit in accordance with the current terms
of a benefit plan or Releasors rights, if any, to indemnification granted under any by-law, agreement or charter document of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement
shall in any way prohibit Releasor from bringing any complaint, claim or action alleging a breach of this Agreement by any Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or
brought, any charge, claim, complaint, civil action, suit or other legal proceeding of any type against any Releasee(s) involving any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such
charge, claim, civil action, suit or other legal proceeding.
Page 11
2. No Pending or Future Lawsuits. Releasor agrees and covenants that he has not filed or
brought any lawsuits, administrative complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative
agency. Releasor further represents that he will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter
occurring at any time in the past concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior
to the date of this Release. Releasor also acknowledges and agrees that upon the payments to be made under this Agreement he has been paid all wages due and owing to him by reason of his employment with Safeway.
3. Covenant Not to Sue. Bocian covenants and agrees never, individually or with any other person or in any way, voluntarily to
commence, aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
4. Sole Right to Claims. Bocian represents and warrants that no other person had or has any interest in the claims referred to in this
Agreement; that he has the sole right and exclusive authority to execute this Agreement; and that he has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to any matter covered by this Agreement.
5. No Admission of Liability. Bocian acknowledges and understands that the consideration referred to herein is provided without
admission or concession by Releasees, or any of them, of any violation of any law or liability to Bocian; that said consideration satisfies and fully extinguishes any obligations owed to him by any Releasee(s) under any prior contract or agreement,
and that said consideration provides him with valuable benefits in addition to any to which he already is entitled under Safeways employee benefit plans, including but not limited to, the Safeway Inc. Executive Severance Plan, or otherwise.
6. Release of Unknown Claims. Bocian expressly waives any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees, Releasor expressly acknowledges that this Agreement is
Page 12
intended to include and does include in its effect, without limitation, all claims which Releasor does not know or suspect to exist in his favor against any Releasee(s), and that this Agreement
expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this
section of the Agreement, it is expressly understood that nothing in this Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or
participating in any investigation by the Equal Employment Opportunity Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other
entity file or bring, or cause or permit to be filed or brought, any charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief
in connection with such proceeding. Further, it is expressly understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to or after the effective date of this
Agreement, or as a waiver of his right to continue any benefit in accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including
any right that Releasor may have under California Labor Code Section 2802 to indemnification of Releasors expenses or losses incurred in discharging his duties. However, Releasor acknowledges that he has received reimbursement for all
expenses incurred up to the date of his execution of this Agreement. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of
this Agreement and/or bringing any complaint claim or action alleging a breach of this Agreement by the Company or request for indemnification.
7. No Other Consideration. Bocian acknowledges and agrees that no consideration other than as provided for in this Agreement has been
or will be paid or furnished by any Releasee; that he will make no claim and hereby waives any right he may now have or may hereafter have, based upon any alleged oral alteration, amendment, modification or any other alleged change in this Agreement
made prior to the Effective Date of the Agreement; and that he understands and has freely and voluntarily entered into and executed this Agreement.
8. Bocians Rights. Bocian understands and agrees that:
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he has a period of forty-five (45) days to consider this Agreement and determine whether he wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by his execution of the Agreement; |
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he is advised carefully to consider the terms of this Agreement and to consult with an attorney of his choice before signing this Agreement; |
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he has a period of seven (7) days after his execution of the Agreement within which he may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation period
has expired; and |
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in the event that Bocian fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Bocian timely exercises the right of revocation provided for in Paragraph 8(d), above, then
Releasees shall be relieved of any and all obligations to Bocian under this Agreement, but all other obligations shall remain without change. |
9. Governing Law. The construction, interpretation, and enforcement of this Agreement shall be governed by the internal laws of the
State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
10. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
11. Severability. In case any provision of this Agreement shall be determined to be invalid, illegal or unenforceable for any reason,
the remaining provisions of the Release and this Agreement shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
12. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
13. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein.
14. Internal Revenue Code Section 409A. It is intended that this Agreement comply with, and/or be exempt from, Section 409A
of the Internal Revenue Code and the final regulations and official guidance thereunder (Section 409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from Section 409A. Any right to a series of
payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This Agreement shall be administered and interpreted to
Page 14
maximize the short term deferral exemption to Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of
Section 409A) shall be treated as short term deferral and not aggregated with other payments. In addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from
Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: ____________________, 2014 |
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Peter Bocian |
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Dated: ____________________, 2014 |
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Safeway Inc. |
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Its: |
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Page 15
Exhibit 10.2
SEPARATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS
DIETZ and/or RELEASOR, as used herein, refer to DIANE M. DIETZ and her heirs, executors, marital community, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Dietz and Safeway desire to terminate their employment relationship on mutually agreeable terms, as set forth in this Separation
Agreement (Agreement or Release); and
WHEREAS Dietz desires to compromise, settle and fully release any and all
claims which she may have against Safeway and/or any other Releasee(s) related in any way to her employment with Safeway, any term or condition of that employment, or the termination of or opportunity to continue that employment;
NOW THEREFORE, Dietz and Safeway freely and voluntarily enter into and execute this Agreement in consideration of the following terms and
conditions:
A. Continued Employment Period. Subject to and in accordance with the terms of this Agreement, Safeway agrees to
employ Dietz in her current capacity of Executive Vice President and Chief Marketing Officer (EVP CMO), from the date of the Dietzs execution of this Agreement until the date her employment is terminated by Dietz or Safeway
(Severance Date). Subject to and without waiving the provisions of Paragraph 9 below, Safeway further agrees that it will not terminate Dietzs employment before the Closing Date unless the termination is for Cause, as those terms
are defined in Paragraph E below. The time period identified in this Paragraph A shall be referred to as the Continued Employment Period. During the Continued Employment Period, Safeway shall have the right in its discretion to place Dietz on Paid
Leave of Absence, during which she will remain eligible for benefits in accordance with Paragraph C, below, and which shall not affect the consideration provided for under this Agreement.
B. Compensation. During the Continued Employment Period, Dietzs base salary shall be unchanged from that paid in the EVP
CMO position as of September 1, 2014.
Page 1
C. Benefits. During the Continued Employment Period, Dietzs retirement, 401(k),
group health (i.e. medical, dental, orthodontia and vision) life insurance, LTD, vacation, and financial planning and tax services benefits shall remain in effect, on the same terms and conditions on which such coverages are made available to
salaried EVP level Safeway employees as of the date of this Agreement, including Dietzs payment of any premiums, deductibles or co-payments allocable to her as a benefit plan participant, if any.
D. Bonus. Dietz shall be paid her bonus for services rendered in 2014 based upon the percentage amount, if any, determined by the
Safeway Executive Compensation Committee or its successor for the Company as a whole, without any discretionary or individual reduction.
E. Payments. On the closing date of the pending merger between Safeway and affiliates of Albertsons LLC (the Closing Date),
Dietz shall be paid the sum of $1,838,099 less any applicable withholdings, provided (a) that Dietz has not resigned or been terminated for cause pursuant to the terms of the Safeway Inc. Executive Severance Plan (Cause) prior to
the Closing Date; and (b) that the conditions set forth in Paragraph 12 have been satisfied in order to make this Agreement effective. As soon as reasonably practicable following the Severance Date, Dietz shall be paid the sum of $2,168,016
less any applicable withholdings, provided (a) that Dietzs termination does not result from either a termination for Cause by Safeway or a resignation without Good Reason by Dietz (as the terms Cause and Good
Reason are defined in the Safeway Inc. Executive Severance Plan), and (b) that Dietz has executed at that time the release attached hereto as Exhibit A within 10 days following the Severance Date and the revocation period applicable to
such release has expired; provided further, that any payments due to Dietz under the Safeway Inc. Retention Bonus Plan that become due prior to the Severance Date shall be paid when due and offset the amount to be paid on the Severance Date. The
parties expressly intend and agree that the payments provided for in this Paragraph E (i) satisfy in full Safeways obligations to Dietz under the Safeway Inc. Executive Severance Plan and the Safeway Inc. Retention Bonus Plan;
(ii) extinguish any claim by Dietz for further benefits under the referenced Plans; and (iii) provide her with valuable consideration and benefits in addition to which she is already entitled under the referenced Plans or otherwise.
F. Payment of LTIP. With respect to the vesting and payout of performance shares under the Safeway 2012 Performance Share Plan, Dietz
will receive the same treatment as other Safeway participants comparable to her level of participation. For example, if it is determined that Safeway executives will vest in a certain percentage of their granted 2014 tranche of shares, then Dietz
will also vest in that same percentage of her granted 2014 tranche of shares.
G. Outside Activities. Prior to the Severance Date,
Dietz may serve as a member of the board of directors of any public or private company or entity so long as such company or entity is not a competitor of, or a party doing business with or seeking
Page 2
to do business with, Safeway, unless expressly permitted by the Companys General Counsel; and her activities during the Continued Employment Period will otherwise conform to Safeways
Code of Business Conduct.
In consideration of the foregoing, Dietz agrees as follows:
1. Resignation. Dietz agrees to, and hereby does, resign her position as an officer and employee of Safeway on and effective as of the
Severance Date.
2. Standards of Conduct. Dietz acknowledges that throughout the Continued Employment Period she will be subject
to, and she agrees that she will act in accordance with, the employment policies, standards of conduct, and duties of loyalty and confidentiality that apply to management level employees of the Company.
3. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to her employment with Safeway, any status, term or condition of such employment, the termination of that employment, or her opportunity for employment following the Severance Date. This release of claims is expressly intended
to, and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of
1967, as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining
Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting
any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and includes, but is not limited to, any claims by Dietz for: breach of any express or implied written or oral
contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities; unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in
violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in the
Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment Opportunity Commission (EEOC), or any
of its state or local deferral
Page 3
agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement shall be
construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of her right to continue any benefit in accordance with the current terms of a
benefit plan or Releasors rights, if any, to indemnification granted under any by-law, agreement or charter document of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement shall
in any way prohibit Releasor from bringing any complaint, claim or action alleging a breach of this Agreement by any Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding of any type against any Releasee(s) involving any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such charge,
claim, civil action, suit or other legal proceeding.
Safeway on behalf of itself and all individuals or entities that may claim through
it hereby releases and forever discharges Dietz and all of her assigns, executors, administrators (Dietz Releasees) of and from any and all claims, demands, actions, causes of actions, damages and liabilities (all hereinafter referred to
as to Claims), whether or not now known, suspected or claimed that Safeway ever had, now has, or may hereafter claim to have had against any Dietz Releasees relating in any way to Dietzs employment with Safeway, any status or term
of her employment, the termination of that employment, her duties on behalf of Safeway at any time, or her opportunity for employment following the Severance Date. This release is expressly intended to, and does, extend to and include all claims of
any nature at law or in equity since the beginning of time. However, such Release shall not include any claim which results after the effective date of this Agreement or based on any claimed breach of this Agreement.
4. No Pending or Future Lawsuits. Releasor agrees and covenants that she has not filed or brought any lawsuits, administrative
complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative agency. Releasor further represents
that she will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter occurring at any time in the past
concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior to the date of this Release.
Releasor also acknowledges and agrees that upon the payments to be made under this Agreement she has been paid all wages due and owing to her by reason of her employment with Safeway.
5. Covenant Not to Sue. Dietz covenants and agrees never, individually or with any other person or in any way, voluntarily to commence,
aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
Page 4
6. Sole Right to Claims. Dietz represents and warrants that no other person had or has any
interest in the claims referred to in this Agreement; that she has the sole right and exclusive authority to execute this Agreement; and that she has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to
any matter covered by this Agreement.
7. No Admission of Liability. Dietz acknowledges and understands that the consideration
referred to herein is provided without admission or concession by Releasees, or any of them, of any violation of any law or liability to Dietz; that said consideration satisfies and fully extinguishes any obligations owed to her by any Releasee(s)
under any prior contract or agreement, and that said consideration provides her with valuable benefits in addition to any to which she already is entitled under Safeways employee benefit plans or otherwise.
8. Release of Unknown Claims. Dietz and Safeway expressly waive any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees and Dietz Releasees, Releasor and Safeway expressly acknowledge that this Agreement is intended to include and does include in its effect, without limitation, all claims which Releasor and Safeway does not know or suspect
to exist in her/its favor against any Releasee(s) and Dietz Releasee(s), and that this Agreement expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in this
Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or participating in any investigation by the Equal Employment Opportunity
Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief in connection with such proceeding. Further, it is expressly
understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to or after the effective date of this Agreement, or as a waiver of her right to continue any benefit in
accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including any right that Releasor may have under California Labor Code
Section 2802 to indemnification of
Page 5
Releasors expenses or losses incurred in discharging her duties. However, Releasor acknowledges that she has received reimbursement for all expenses incurred up to the date of his execution
of this Agreement. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of this Agreement and/or bringing any complaint claim
or action alleging a breach of this Agreement by the Company or request for indemnification.
9. Amendment and Termination. This
Agreement may not be altered, amended or modified, except by a further written document signed by both Dietz and Safeway. Notwithstanding anything contained herein to the contrary, in the event the Merger Agreement (as defined in the Safeway Inc.
Retention Bonus Plan) is terminated pursuant to its terms, this Agreement shall automatically terminate and become null and void ab initio.
10. No Other Consideration. Dietz acknowledges and agrees that no consideration other than as provided for in this Agreement has been
or will be paid or furnished by any Releasee; that she will make no claim and hereby waives any right she may now have or may hereafter have, based upon any alleged oral alteration, amendment, modification or any other alleged change in this
Agreement made prior to the Effective Date of the Agreement; and that she understands and has freely and voluntarily entered into and executed this Agreement.
11. Agreement Is Confidential. Releasor covenants and agrees as of the signing of this Agreement that, except insofar as the terms of
this Agreement are publicly disclosed, she will maintain in confidence the discussions, negotiations and other information relating to this Release and that, unless required to do so by subpoena or other lawful process, and then only to the extent
so required, she will not disclose any such information concerning the Release to any person or entity other than her attorneys, immediate family members and tax advisors.
12. Dietzs Rights. Dietz understands and agrees that:
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she has a period of forty-five (45) days to consider this Agreement and determine whether she wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by her execution of the Agreement; |
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she is advised carefully to consider the terms of this Agreement and to consult with an attorney of her choice before signing this Agreement; |
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she has a period of seven (7) days after her execution of the Agreement within which she may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation
period has expired; and |
Page 6
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e. |
in the event that Dietz fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Dietz timely exercises the right of revocation provided for in Paragraph 12(d), above, then
Releasees shall be relieved of any and all obligations to Dietz under this Agreement, but all other obligations shall remain without change. |
13. Confidential Information. Releasor covenants and agrees that, without the express written consent of an executive officer of the
Company, she will not at any time reveal any confidential, proprietary information about Safeway, obtained during the course of her employment with Safeway. This means that Releasor agrees that she shall not disclose to any person or entity at any
time or in any manner, directly or indirectly, any information relating to the operations of Safeway which has not been already disclosed to the general public. Releasor also agrees not to disclose any of the Companys Confidential Information
including, but not limited to, the following: all information about employees or former employees; proprietary information and/or trade secrets; any information regarding the Companys operations and pharmacy operations, including without
limitation, information related to its methods, services, pricing, costs, margins, finances, practices, strategies, business plans, agreements, decision-making, systems, technology, policies, procedures, marketing, sales, techniques and processes;
and any other proprietary and/or confidential information relating to the Companys customers, employees, products, services, sales, technologies, or business affairs (collectively, Confidential Information). Releasor agrees that
she will not remove any documents, records, or other information from Company premises containing any such Confidential Information and Releasor acknowledges that such documents, records or other information are the exclusive property of the
Company.
14. Cooperation in Lawsuits. Dietz covenants and agrees that she will cooperate fully when and as reasonably required by
Safeway in the defense or prosecution of any claims, charges, complaints or lawsuits that have been or may hereafter be filed by or against Safeway. If such cooperation is required following Dietzs resignation of employment, Safeway will
indemnify Dietz in the same manner and to the same extent as if she were still employed by Safeway. Such cooperation will include, but is not limited to, meeting with Safeways counsel and being available for deposition and/or trial testimony
upon reasonable notice. Safeway agrees to reimburse Dietz for reasonable expenses incurred by her in furnishing such cooperation.
Page 7
15. Non-Disparagement. Releasor covenants and agrees that during the Continued Employment
Period and, and for a period of two years thereafter, she will not, whether acting for herself or for any third party, disparage the image or reputation of any Releasee(s).
16. Injunctive Relief. Dietz understands and agrees that a breach of any of the covenants set forth in paragraphs 4, 5, 8, 11, 13, 14
and 15, above, shall be a material breach of the Agreement, for which Safeway may, at its sole option: i) immediately cease providing to Dietz any of the benefits provided for in this Agreement; and/or ii) seek injunctive relief, damages,
attorneys fees and costs.
17. Governing Law. The construction, interpretation, and enforcement of this Agreement shall be
governed by the internal laws of the State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
18. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
19. Severability. In case any provision of this Release shall be determined to be invalid, illegal or unenforceable for any reason, the
remaining provisions of this Release shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
20. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
21. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein. In the event this Agreement is
in conflict with or divergent from any other agreement between Dietz and Safeway, the terms of this Agreement shall prevail.
Page 8
22. Internal Revenue Code Section 409A. It is intended that this Agreement comply
with, and/or be exempt from, Section 409A of the Internal Revenue Code and the final regulations and official guidance thereunder (Section 409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from
Section 409A. Any right to a series of payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This Agreement shall be administered and interpreted to maximize the short term deferral exemption to
Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of Section 409A) shall be treated as short term deferral and not aggregated with other payments. In
addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax
consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: October 19, 2014 |
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/s/ Diane M. Dietz |
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Diane M. Dietz |
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Dated: October 22, 2014 |
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Safeway Inc. |
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/s/ Robert A. Gordon |
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By: |
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Robert A. Gordon |
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Its: |
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Senior Vice President |
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EXHIBIT A
GENERAL RELEASE OF CLAIMS
AND COVENANT NOT TO SUE
DIETZ and/or RELEASOR, as used herein, refer to DIANE M. DIETZ and her heirs, executors, marital community, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Dietz desires to compromise, settle and fully release any and all claims which she may have against Safeway and/or any other
Releasee(s) related in any way to her employment with Safeway, any term or condition of that employment, the termination of or opportunity to continue that employment, or her eligibility for benefits under the Safeway Inc. Executive Severance Plan
and the Safeway Inc. Retention Bonus Plan (hereinafter, the Plans);
NOW THEREFORE, Dietz freely and voluntarily enters into
and executes this General Release of Claims and Covenant Not to Sue (Release or Agreement) in consideration of the following terms and conditions:
A. Severance Date Payment. At the time and subject to the conditions provided for in Paragraph E of the Separation Agreement and
General Release of Claims entered into by and between Dietz and Safeway on or about October 22, 2014, and upon condition that Dietz does not timely exercise the right of revocation provided for in Paragraph 8(d), below, Safeway will make a lump
sum severance payment to Dietz in the amount of $2,168,016, less applicable tax withholdings and less any Retention Bonus payments previously received. Releasor understands and agrees that the payment provided for in this Paragraph satisfies in full
Safeways obligations to Releasor under the Plans and extinguishes any claim by Releasor for further benefits under the Plans.
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In consideration of the foregoing, Dietz agrees as follows:
1. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to her employment with Safeway, any status, term or condition of such employment, the termination of that employment, or her opportunity for employment following the closing date of the pending merger between Safeway and
affiliates of Albertsons LLC (the Closing Date). This release of claims is expressly intended to, and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay
Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of 1967, as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers
Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the
California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and
includes, but is not limited to, any claims by Dietz for: breach of any express or implied written or oral contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities;
unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract
and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly
understood that nothing in the Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment
Opportunity Commission (EEOC), or any of its state or local deferral agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement
shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of her right to continue any benefit in accordance with the current terms
of a benefit plan or Releasors rights, if any, to indemnification granted under any by-law, agreement or charter document of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement
shall in any way prohibit Releasor from bringing any complaint, claim or action alleging a breach of this Agreement by any Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or
brought, any charge, claim, complaint, civil action, suit or other legal proceeding of any type against any Releasee(s) involving any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such
charge, claim, civil action, suit or other legal proceeding.
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2. No Pending or Future Lawsuits. Releasor agrees and covenants that she has not filed or
brought any lawsuits, administrative complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative
agency. Releasor further represents that she will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter
occurring at any time in the past concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior
to the date of this Release. Releasor also acknowledges and agrees that upon the payments to be made under this Agreement she has been paid all wages due and owing to her by reason of her employment with Safeway.
3. Covenant Not to Sue. Dietz covenants and agrees never, individually or with any other person or in any way, voluntarily to commence,
aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
4. Sole Right to Claims. Dietz represents and warrants that no other person had or has any interest in the claims referred to in this
Agreement; that she has the sole right and exclusive authority to execute this Agreement; and that she has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to any matter covered by this Agreement.
5. No Admission of Liability. Dietz acknowledges and understands that the consideration referred to herein is provided without
admission or concession by Releasees, or any of them, of any violation of any law or liability to Dietz; that said consideration satisfies and fully extinguishes any obligations owed to her by any Releasee(s) under any prior contract or agreement,
and that said consideration provides her with valuable benefits in addition to any to which she already is entitled under Safeways employee benefit plans, including but not limited to, the Safeway Inc. Executive Severance Plan, or otherwise.
6. Release of Unknown Claims. Dietz expressly waives any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees, Releasor expressly acknowledges that this Agreement is
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intended to include and does include in its effect, without limitation, all claims which Releasor does not know or suspect to exist in her favor against any Releasee(s), and that this Agreement
expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this
section of the Agreement, it is expressly understood that nothing in this Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or
participating in any investigation by the Equal Employment Opportunity Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other
entity file or bring, or cause or permit to be filed or brought, any charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief
in connection with such proceeding. Further, it is expressly understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to or after the effective date of this
Agreement, or as a waiver of her right to continue any benefit in accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including
any right that Releasor may have under California Labor Code Section 2802 to indemnification of Releasors expenses or losses incurred in discharging her duties. However, Releasor acknowledges that she has received reimbursement for all
expenses incurred up to the date of his execution of this Agreement. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of
this Agreement and/or bringing any complaint claim or action alleging a breach of this Agreement by the Company or request for indemnification.
7. No Other Consideration. Dietz acknowledges and agrees that no consideration other than as provided for in this Agreement has been or
will be paid or furnished by any Releasee; that she will make no claim and hereby waives any right she may now have or may hereafter have, based upon any alleged oral alteration, amendment, modification or any other alleged change in this Agreement
made prior to the Effective Date of the Agreement; and that she understands and has freely and voluntarily entered into and executed this Agreement.
8. Dietzs Rights. Dietz understands and agrees that:
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she has a period of forty-five (45) days to consider this Agreement and determine whether she wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by her execution of the Agreement; |
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she is advised carefully to consider the terms of this Agreement and to consult with an attorney of her choice before signing this Agreement; |
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she has a period of seven (7) days after her execution of the Agreement within which she may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation
period has expired; and |
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in the event that Dietz fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Dietz timely exercises the right of revocation provided for in Paragraph 8(d), above, then
Releasees shall be relieved of any and all obligations to Dietz under this Agreement, but all other obligations shall remain without change. |
9. Governing Law. The construction, interpretation, and enforcement of this Agreement shall be governed by the internal laws of the
State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
10. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
11. Severability. In case any provision of this Agreement shall be determined to be invalid, illegal or unenforceable for any reason,
the remaining provisions of the Release and this Agreement shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
12. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
13. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein.
14. Internal Revenue Code Section 409A. It is intended that this Agreement comply with, and/or be exempt from, Section 409A
of the Internal Revenue Code and the final regulations and official guidance thereunder (Section 409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from Section 409A. Any right to a series of
payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This Agreement shall be administered and interpreted to
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maximize the short term deferral exemption to Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of
Section 409A) shall be treated as short term deferral and not aggregated with other payments. In addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from
Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: ____________________, 2014 |
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Diane M. Dietz |
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Dated: ____________________,2014 |
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Safeway Inc. |
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By: |
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Its: |
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Exhibit 10.3
SEPARATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS
RENDA and/or RELEASOR, as used herein, refer to LARREE M. RENDA and her heirs, executors, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Renda and Safeway desire to terminate their employment relationship on mutually agreeable terms, as set forth in this Separation
Agreement (Agreement); and
WHEREAS Renda desires to compromise, settle and fully release any and all claims which she may
have against Safeway and/or any other Releasee(s) related in any way to her employment with Safeway, any term or condition of that employment, or the termination of or opportunity to continue that employment;
NOW THEREFORE, Renda and Safeway freely and voluntarily enter into and execute this Agreement in consideration of the following terms and
conditions:
A. Continued Employment Period. Subject to and in accordance with the terms of this Agreement, Safeway agrees to
employ Renda in her current capacity of Executive Vice President and Chief Administrative Officer (EVP CAO), from the date of the Rendas execution of this Agreement until the date her employment is terminated by Renda or Safeway
(Severance Date). Subject to and without waiving the provisions of Paragraph 9 below, Safeway further agrees that it will not terminate Rendas employment before the Closing Date unless the termination is for Cause, as those terms
are defined in Paragraph E below. The time period identified in this Paragraph A shall be referred to as the Continued Employment Period. During the Continued Employment Period, Safeway shall have the right in its discretion to place Renda on Paid
Leave of Absence, during which she will remain eligible for benefits in accordance with Paragraph C, below, and which shall not affect the consideration provided for under this Agreement.
B. Compensation. During the Continued Employment Period, Rendas base salary shall be unchanged from that paid in the EVP
CAO position as of September 1, 2014.
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C. Benefits. During the Continued Employment Period, Rendas retirement, 401(k),
group health (i.e. medical, dental, orthodontia and vision) life insurance, LTD, vacation, and financial planning and tax services benefits shall remain in effect, on the same terms and conditions on which such coverages are made available to
salaried EVP level Safeway employees as of the date of this Agreement, including Rendas payment of any premiums, deductibles or co-payments allocable to her as a benefit plan participant, if any.
D. Bonus. Renda shall be paid her bonus for services rendered in 2014 based upon the percentage amount, if any, determined by the
Safeway Executive Compensation Committee or its successor for the Company as a whole, without any discretionary or individual reduction.
E. Payments. On the closing date of the pending merger between Safeway and affiliates of Albertsons LLC (the Closing Date),
Renda shall be paid the sum of $2,243,755 less any applicable withholdings, provided (a) that Renda has not resigned or been terminated for cause pursuant to the terms of the Safeway Inc. Executive Severance Plan (Cause) prior to
the Closing Date; and (b) that the conditions set forth in Paragraph 12 have been satisfied in order to make this Agreement effective. As soon as reasonably practicable following the Severance Date, Renda shall be paid the sum of $2,440,070
less any applicable withholdings, provided (a) that Rendas termination does not result from either a termination for Cause by Safeway or a resignation without Good Reason by Renda (as the terms Cause and Good
Reason are defined in the Safeway Inc. Executive Severance Plan), and (b) that Renda has executed at that time the release attached hereto as Exhibit A within 10 days following the Severance Date and the revocation period applicable to
such release has expired; provided further, that any payments due to Renda under the Safeway Inc. Retention Bonus Plan that become due prior to the Severance Date shall be paid when due and offset the amount to be paid on the Severance Date. The
parties expressly intend and agree that the payments provided for in this Paragraph E (i) satisfy in full Safeways obligations to Renda under the Safeway Inc. Executive Severance Plan and the Safeway Inc. Retention Bonus Plan;
(ii) extinguish any claim by Renda for further benefits under the referenced Plans; and (iii) provide her with valuable consideration and benefits in addition to which she is already entitled under the referenced Plans or otherwise.
F. Payment of LTIP. With respect to the vesting and payout of performance shares under the Safeway 2012 Performance Share Plan, Renda
will receive the same treatment as other Safeway participants comparable to her level of participation. For example, if it is determined that Safeway executives will vest in a certain percentage of their granted 2014 tranche of shares, then Renda
will also vest in that same percentage of her granted 2014 tranche of shares.
G. Outside Activities. Prior to the Severance Date,
Renda may serve as a member of the board of directors of any public or private company or entity so long as such company or entity is not a competitor of, or a party doing business with or seeking
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to do business with, Safeway, unless expressly permitted by the Companys General Counsel; and her activities during the Continued Employment Period will otherwise conform to Safeways
Code of Business Conduct.
In consideration of the foregoing, Renda agrees as follows:
1. Resignation. Renda agrees to, and hereby does, resign her position as an officer and employee of Safeway on and effective as of the
Severance Date.
2. Standards of Conduct. Renda acknowledges that throughout the Continued Employment Period she will be subject
to, and she agrees that she will act in accordance with, the employment policies, standards of conduct, and duties of loyalty and confidentiality that apply to management level employees of the Company.
3. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to her employment with Safeway, any status, term or condition of such employment, the termination of that employment, or her opportunity for employment following the Severance Date. This release of claims is expressly intended
to, and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of
1967, as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining
Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting
any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and includes, but is not limited to, any claims by Renda for: breach of any express or implied written or oral
contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities; unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in
violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in the
Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment Opportunity Commission (EEOC), or any
of its state or local deferral
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agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement shall be
construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of her right to continue any benefit in accordance with the current terms of a
benefit plan or Releasors rights, if any, to indemnification granted under any by-law, agreement or charter document of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement shall
in any way prohibit Releasor from bringing any complaint, claim or action alleging a breach of this Agreement by any Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding of any type against any Releasee(s) involving any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such charge,
claim, civil action, suit or other legal proceeding.
Safeway on behalf of itself and all individuals or entities that may claim through
it hereby releases and forever discharges Renda and all of her assigns, executors, administrators (Renda Releasees) of and from any and all claims, demands, actions, causes of actions, damages and liabilities (all hereinafter referred to
as to Claims), whether or not now known, suspected or claimed that Safeway ever had, now has, or may hereafter claim to have had against any Renda Releasees relating in any way to Rendas employment with Safeway, any status or term
of her employment, the termination of that employment, her duties on behalf of Safeway at any time, or her opportunity for employment following the Severance Date. This release is expressly intended to, and does, extend to and include all claims of
any nature at law or in equity since the beginning of time. However, such Release shall not include any claim which results after the effective date of this Agreement or based on any claimed breach of this Agreement.
4. No Pending or Future Lawsuits. Releasor agrees and covenants that she has not filed or brought any lawsuits, administrative
complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative agency. Releasor further represents
that she will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter occurring at any time in the past
concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior to the date of this Release.
Releasor also acknowledges and agrees that upon the payments to be made under this Agreement she has been paid all wages due and owing to her by reason of her employment with Safeway.
5. Covenant Not to Sue. Renda covenants and agrees never, individually or with any other person or in any way, voluntarily to commence,
aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
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6. Sole Right to Claims. Renda represents and warrants that no other person had or has any
interest in the claims referred to in this Agreement; that she has the sole right and exclusive authority to execute this Agreement; and that she has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to
any matter covered by this Agreement.
7. No Admission of Liability. Renda acknowledges and understands that the consideration
referred to herein is provided without admission or concession by Releasees, or any of them, of any violation of any law or liability to Renda; that said consideration satisfies and fully extinguishes any obligations owed to her by any Releasee(s)
under any prior contract or agreement, and that said consideration provides her with valuable benefits in addition to any to which she already is entitled under Safeways employee benefit plans or otherwise.
8. Release of Unknown Claims. Renda and Safeway expressly waive any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees and Renda Releasees, Releasor and Safeway expressly acknowledge that this Agreement is intended to include and does include in its effect, without limitation, all claims which Releasor and Safeway does not know or suspect
to exist in her/its favor against any Releasee(s) and Renda Releasee(s), and that this Agreement expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in this
Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or participating in any investigation by the Equal Employment Opportunity
Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief in connection with such proceeding. Further, it is expressly
understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior or after to the effective date of this Agreement, or as a waiver of her right to continue any benefit in
accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including any right that Releasor may have under California Labor Code
Section 2802 to indemnification of
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Releasors expenses or losses incurred in discharging her duties. However, Releasor acknowledges that she has received reimbursement for all expenses incurred up to the date of his execution
of this Agreement. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of this Agreement and/or bringing any complaint claim
or action alleging a breach of this Agreement by the Company or request for indemnification.
9. Amendment and Termination. This
Agreement may not be altered, amended or modified, except by a further written document signed by both Renda and Safeway. Notwithstanding anything contained herein to the contrary, in the event the Merger Agreement (as defined in the Safeway Inc.
Retention Bonus Plan) is terminated pursuant to its terms, this Agreement shall automatically terminate and become null and void ab initio.
10. No Other Consideration. Renda acknowledges and agrees that no consideration other than as provided for in this Agreement has been
or will be paid or furnished by any Releasee; that she will make no claim and hereby waives any right she may now have or may hereafter have, based upon any alleged oral alteration, amendment, modification or any other alleged change in this
Agreement made prior to the Effective Date of the Agreement; and that she understands and has freely and voluntarily entered into and executed this Agreement.
11. Agreement Is Confidential. Releasor covenants and agrees as of the signing of this Agreement that, except insofar as the terms of
this Agreement are publicly disclosed, she will maintain in confidence the discussions, negotiations and other information relating to this Release and that, unless required to do so by subpoena or other lawful process, and then only to the extent
so required, she will not disclose any such information concerning the Release to any person or entity other than her attorneys, immediate family members and tax advisors.
12. Rendas Rights. Renda understands and agrees that:
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she has a period of forty-five (45) days to consider this Agreement and determine whether she wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by her execution of the Agreement; |
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she is advised carefully to consider the terms of this Agreement and to consult with an attorney of her choice before signing this Agreement; |
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she has a period of seven (7) days after her execution of the Agreement within which she may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation
period has expired; and |
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in the event that Renda fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Renda timely exercises the right of revocation provided for in Paragraph 11(d), above, then
Releasees shall be relieved of any and all obligations to Renda under this Agreement, but all other obligations shall remain without change. |
13. Confidential Information. Releasor covenants and agrees that, without the express written consent of an executive officer of the
Company, she will not at any time reveal any confidential, proprietary information about Safeway, obtained during the course of her employment with Safeway. This means that Releasor agrees that she shall not disclose to any person or entity at any
time or in any manner, directly or indirectly, any information relating to the operations of Safeway which has not been already disclosed to the general public. Releasor also agrees not to disclose any of the Companys Confidential Information
including, but not limited to, the following: all information about employees or former employees; proprietary information and/or trade secrets; any information regarding the Companys operations and pharmacy operations, including without
limitation, information related to its methods, services, pricing, costs, margins, finances, practices, strategies, business plans, agreements, decision-making, systems, technology, policies, procedures, marketing, sales, techniques and processes;
and any other proprietary and/or confidential information relating to the Companys customers, employees, products, services, sales, technologies, or business affairs (collectively, Confidential Information). Releasor agrees that
she will not remove any documents, records, or other information from Company premises containing any such Confidential Information and Releasor acknowledges that such documents, records or other information are the exclusive property of the
Company.
14. Cooperation in Lawsuits. Renda covenants and agrees that she will cooperate fully when and as reasonably required by
Safeway in the defense or prosecution of any claims, charges, complaints or lawsuits that have been or may hereafter be filed by or against Safeway. If such cooperation is required following Rendas resignation of employment, Safeway will
indemnify Renda in the same manner and to the same extent as if she were still employed by Safeway. Such cooperation will include, but is not limited to, meeting with Safeways counsel and being available for deposition and/or trial testimony
upon reasonable notice. Safeway agrees to reimburse Renda for reasonable expenses incurred by her in furnishing such cooperation.
15.
Non-Disparagement. Releasor covenants and agrees that during the Continued Employment Period and, and for a period of two years thereafter, she will not, whether acting for herself or for any third party, disparage the image or reputation of
any Releasee(s).
Page 7
16. Injunctive Relief. Renda understands and agrees that a breach of any of the covenants
set forth in paragraphs 4, 5, 8, 10[?], 12, 13 and 14, above, shall be a material breach of the Agreement, for which Safeway may, at its sole option: i) immediately cease providing to Renda any of the benefits provided for in this Agreement; and/or
ii) seek injunctive relief, damages, attorneys fees and costs.
17. Governing Law. The construction, interpretation, and
enforcement of this Agreement shall be governed by the internal laws of the State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
18. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
19. Severability. In case any provision of this Release shall be determined to be invalid, illegal or unenforceable for any reason, the
remaining provisions of this Release shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
20. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
21. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein. In the event this Agreement is
in conflict with or divergent from any other agreement between Renda and Safeway, the terms of this Agreement shall prevail.
22.
Internal Revenue Code Section 409A. It is intended that this Agreement comply with, and/or be exempt from, Section 409A of the Internal Revenue Code and the final regulations and official guidance thereunder (Section
409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from Section 409A. Any right to a series of payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This
Agreement shall be administered and interpreted to maximize the short term deferral exemption to Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of
Section 409A) shall be treated as short term deferral and not aggregated with other payments. In addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from
Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: October 15, 2014 |
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/s/ Larree M. Renda |
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Larree M. Renda |
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Dated: October 22, 2014 |
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Safeway Inc. |
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/s/ Robert A. Gordon |
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By: |
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Robert A. Gordon |
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Its: |
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Senior Vice President |
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EXHIBIT A
GENERAL RELEASE OF CLAIMS
AND COVENANT NOT TO SUE
RENDA and/or RELEASOR, as used herein, refer to LARREE M. RENDA and her heirs, executors, administrators and assigns.
SAFEWAY and/or COMPANY, as used herein, refer to SAFEWAY INC., and its successors and assigns, parents, subsidiaries, affiliates, partners,
divisions, directors, officers, managers, agents and employees, and each and all of them.
RELEASEES, as used herein, refers to SAFEWAY
INC., ALBERTSONS LLC, NEW ALBERTSONS, INC., AB ACQUISITION LLC, ALBERTSONS HOLDINGS LLC, CERBERUS CAPITAL MANAGEMENT, L.P. and their respective successors and assigns, parents, members, shareholders, subsidiaries, affiliates,
partners, divisions, directors, officers, managers, agents, employees, and each and all of them, and RELEASEE refers to any one of the Releasees.
WHEREAS Renda desires to compromise, settle and fully release any and all claims which she may have against Safeway and/or any other
Releasee(s) related in any way to her employment with Safeway, any term or condition of that employment, the termination of or opportunity to continue that employment, or her eligibility for benefits under the Safeway Inc. Executive Severance Plan
and the Safeway Inc. Retention Bonus Plan (hereinafter, the Plans);
NOW THEREFORE, Renda freely and voluntarily enters into
and executes this General Release of Claims and Covenant Not to Sue (Release or Agreement) in consideration of the following terms and conditions:
A. Severance Date Payment. At the time and subject to the conditions provided for in Paragraph E of the Separation Agreement and
General Release of Claims entered into by and between Renda and Safeway on or about October 22, 2014, and upon condition that Renda does not timely exercise the right of revocation provided for in Paragraph 8(d), below, Safeway will make a lump
sum severance payment to Renda in the amount of $2,440,070, less applicable tax withholdings and less any Retention Bonus payments previously received. Releasor understands and agrees that the payment provided for in this Paragraph satisfies in full
Safeways obligations to Releasor under the Plans and extinguishes any claim by Releasor for further benefits under the Plans.
Page 10
In consideration of the foregoing, Renda agrees as follows:
1. Release of Claims. Releasor hereby releases and forever discharges each and every Releasee of and from any and all claims, demands,
actions, causes of action, damages and liabilities (all hereinafter referred to as claims), whether or not now known, suspected or claimed, which Releasor ever had, now has, or may hereafter claim to have had against any Releasee(s),
relating in any way to her employment with Safeway, any status, term or condition of such employment, the termination of that employment, or her opportunity for employment following the Closing Date. This release of claims is expressly intended to,
and does, extend to and include, but is not limited to, claims under: Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Fair Labor Standards Act, as amended; the Age Discrimination in Employment Act of 1967,
as amended; the Americans With Disabilities Act, as amended; the Employee Retirement Income Security Act, as amended; the Older Workers Benefit Protection Act, as amended; the False Claims Act, as amended; the Worker Adjustment and Retraining
Notification Act, as amended; the Sarbanes-Oxley Act of 2002, as amended; the California Fair Employment and Housing Act, as amended; the California Labor Code; and any other federal, state or local statutes, ordinances or regulations prohibiting
any form or forms of discrimination in employment and/or relating to the payment of wages and benefits. This release also extends to and includes, but is not limited to, any claims by Renda for: breach of any express or implied written or oral
contract; intentional or negligent infliction of emotional distress; impairment or interference with economic activities or opportunities; unlawful interference with employment rights; defamation; wrongful termination; wrongful discharge in
violation of public policy; breach of any express or implied covenant of good faith and fair dealing; and any and all other common law contract and/or tort claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in the
Agreement will prevent Releasor from pursuing rights that cannot be waived as a matter of law, including but not limited to filing a charge of harassment, discrimination or retaliation with the Equal Employment Opportunity Commission (EEOC), or any
of its state or local deferral agencies, or participating in in any investigation by the EEOC or any of its state or local deferral agencies. Further, it is expressly understood that nothing in this Agreement shall be construed to be a waiver by
Releasor of any benefit that vested in any benefit plan prior to the effective date of this Agreement or vested thereafter, or as a waiver of her right to continue any benefit in accordance with the current terms of a benefit plan or Releasors
rights, if any, to indemnification granted under any by-law, agreement or charter document of Safeway, policy of insurance or state or federal law. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor
from bringing any complaint, claim or action alleging a breach of this Agreement by any Releasee(s). Releasor further agrees that should any person or entity file or bring, or cause or permit to be filed or brought, any charge, claim, complaint,
civil action, suit or other legal proceeding of any type against any Releasee(s) involving any matter occurring at any time in the past, Releasor will not seek or accept personal relief in connection with such charge, claim, civil action, suit or
other legal proceeding.
Page 11
2. No Pending or Future Lawsuits. Releasor agrees and covenants that she has not filed or
brought any lawsuits, administrative complaints or charges, either in Releasors name or on behalf of any other person or entity, against any Releasee(s) in any local, state or federal court or with any local, state or federal administrative
agency. Releasor further represents that she will not file or bring, or permit to be filed or brought, any charge, claim, complaint, civil action, suit or legal proceeding seeking personal equitable or monetary relief in connection with any matter
occurring at any time in the past concerning Releasors employment relationship with Safeway, up to and including the date of this Release, or involving any continuing effects of any acts or practices which have arisen or occurred on or prior
to the date of this Release. Releasor also acknowledges and agrees that upon the payments to be made under this Agreement she has been paid all wages due and owing to her by reason of her employment with Safeway.
3. Covenant Not to Sue. Renda covenants and agrees never, individually or with any other person or in any way, voluntarily to commence,
aid in any way, prosecute or cause or permit to be commenced or prosecuted against Releasees, or any of them, any action or other proceeding based upon any claim which is released by this Agreement.
4. Sole Right to Claims. Renda represents and warrants that no other person had or has any interest in the claims referred to in this
Agreement; that she has the sole right and exclusive authority to execute this Agreement; and that she has not sold, assigned, transferred, conveyed or otherwise disposed of any claim or demand relating to any matter covered by this Agreement.
5. No Admission of Liability. Renda acknowledges and understands that the consideration referred to herein is provided without
admission or concession by Releasees, or any of them, of any violation of any law or liability to Renda; that said consideration satisfies and fully extinguishes any obligations owed to her by any Releasee(s) under any prior contract or agreement,
and that said consideration provides her with valuable benefits in addition to any to which she already is entitled under Safeways employee benefit plans, including but not limited to, the Safeway Inc. Executive Severance Plan, or otherwise.
6. Release of Unknown Claims. Renda expressly waives any right or benefit available in any capacity under the provisions of
Section 1542 of the California Civil Code, which section provides:
A general release does not extend to claims which the
creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.
Notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and
discharge of the Releasees, Releasor expressly acknowledges that this Agreement is intended to include and does include in its effect, without limitation, all
Page 12
claims which Releasor does not know or suspect to exist in her favor against any Releasee(s), and that this Agreement expressly contemplates the extinguishment of all such claims.
Notwithstanding the release of claims otherwise provided for in this section of the Agreement, it is expressly understood that nothing in this
Agreement will prevent Releasor from filing a charge of discrimination with the Equal Employment Opportunity Commission or any of its state or local deferral agencies, or participating in any investigation by the Equal Employment Opportunity
Commission or any of its state or local deferral agencies. Releasor further agrees and covenants, however, that should any agency, commission, person, organization, or other entity file or bring, or cause or permit to be filed or brought, any
charge, claim, complaint, civil action, suit or other legal proceeding involving any matter occurring at any time in the past, Releasor will not seek or accept any personal relief in connection with such proceeding. Further, it is expressly
understood that nothing in this Agreement shall be construed to be a waiver by Releasor of any benefit that vested in any benefit plan prior or after to the effective date of this Agreement, or as a waiver of her right to continue any benefit in
accordance with the terms of a benefit plan. Likewise, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement, including any right that Releasor may have under California Labor Code
Section 2802 to indemnification of Releasors expenses or losses incurred in discharging her duties. However, Releasor acknowledges that she has received reimbursement for all expenses incurred up to the date of his execution of this
Agreement. It is also expressly understood that nothing in this Agreement shall in any way prohibit Releasor from bringing any complaint, claim or action seeking to challenge the validity of this Agreement and/or bringing any complaint claim or
action alleging a breach of this Agreement by the Company or request for indemnification.
7. No Other Consideration. Renda
acknowledges and agrees that no consideration other than as provided for in this Agreement has been or will be paid or furnished by any Releasee; that she will make no claim and hereby waives any right she may now have or may hereafter have, based
upon any alleged oral alteration, amendment, modification or any other alleged change in this Agreement made prior to the Effective Date of the Agreement; and that she understands and has freely and voluntarily entered into and executed this
Agreement.
8. Rendas Rights. Renda understands and agrees that:
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she has a period of forty-five (45) days to consider this Agreement and determine whether she wishes to execute the same; |
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any rights or claims that may arise after the date of this Agreement are not waived by her execution of the Agreement; |
Page 13
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she is advised carefully to consider the terms of this Agreement and to consult with an attorney of her choice before signing this Agreement; |
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she has a period of seven (7) days after her execution of the Agreement within which she may revoke the Agreement and that the Agreement shall not become effective or enforceable until the seven-day revocation
period has expired; and |
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in the event that Renda fails timely to execute this Agreement and return the executed original thereof to Safeway, or if Renda timely exercises the right of revocation provided for in Paragraph 8(d), above, then
Releasees shall be relieved of any and all obligations to Renda under this Agreement, but all other obligations shall remain without change. |
9. Governing Law. The construction, interpretation, and enforcement of this Agreement shall be governed by the internal laws of the
State of California applicable to contracts made and to be performed wholly within such state, without regard to the conflict of laws rules of any jurisdiction.
10. Attorneys Fees and Expenses. If an action is brought by either party for breach of any provision of this Agreement, the
prevailing party shall be entitled to recover all reasonable attorneys and experts fees and costs in defending or bringing such action.
11. Severability. In case any provision of this Agreement shall be determined to be invalid, illegal or unenforceable for any reason,
the remaining provisions of the Release and this Agreement shall be unaffected and unimpaired thereby and shall remain in full force and effect to the fullest extent permitted by law.
12. Counterparts. This Agreement may be signed in counterpart originals with the same force and effect as though a single original were
executed.
13. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter of the Agreement, and the Agreement supersedes all prior agreements between the parties with respect to the subject matter covered herein, whether written or oral, except as otherwise expressly provided herein.
14. Internal Revenue Code Section 409A. It is intended that this Agreement comply with, and/or be exempt from, Section 409A
of the Internal Revenue Code and the final regulations and official guidance thereunder (Section 409A), and any ambiguities herein will be interpreted to so comply with and/or be exempt from Section 409A. Any right to a series of
payments pursuant to this Agreement is to be treated as a right to a series of separate payments. This Agreement shall be administered and interpreted to
Page 14
maximize the short term deferral exemption to Section 409A. The portion of any payment under this Agreement that is paid within the short term deferral exemption (within the meaning of
Section 409A) shall be treated as short term deferral and not aggregated with other payments. In addition, any payments under this Agreement that are not exempt under the short term deferral exemption are meant to be exempt from
Section 409A as paid under an involuntary separation plan. The Company does not guarantee or warrant the tax consequences of the Agreement, and Releasor shall, in all cases, be liable for any taxes due as a result of this Agreement.
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Dated: ____________________, 2014 |
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Larree M. Renda |
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Dated: ____________________,2014 |
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Safeway Inc. |
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By: |
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Its: |
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