Attached files
file | filename |
---|---|
8-K - FORM 8-K - REPUBLIC SERVICES, INC. | p16839e8vk.htm |
EX-10.1 - EX-10.1 - REPUBLIC SERVICES, INC. | p16839exv10w1.htm |
EX-10.3 - EX-10.3 - REPUBLIC SERVICES, INC. | p16839exv10w3.htm |
EX-10.4 - EX-10.4 - REPUBLIC SERVICES, INC. | p16839exv10w4.htm |
Exhibit
10.2
MEMORANDUM
To:
|
Mike Rissman | |
From:
|
Jim OConnor | |
Date:
|
February 9, 2010 | |
Re:
|
Termination of Employment Agreement |
This is to confirm that in connection with your promotion to Executive Vice President and
General Counsel and the implementation of the Companys Executive Separation Policy (Policy),
effective February 9, 2010 you have agreed to the cancellation of the employment agreement you
entered into with the Company effective December 5, 2008 (Employment Agreement). As a result,
your employment with the Company will be continued on an at-will basis which means that either you
or the Company can terminate the employment relationship at any time.
You agree to the cancellation of your Employment Agreement in return for your participation in
the Policy. Your severance benefits under the Policy will be similar to those provided under your
Employment Agreement, except that: (1) your severance amounts will be increased from a level of one
time to two times your base salary (or, in the case of your termination without cause or for good
reason within one year following a change in control, from a level of one time to two times your
base salary plus target bonus) which is the severance amount provided under the Policy to eligible
Named Executive Officers; and (2) continued medical benefits will be increased from one to two
years.
You understand and acknowledge that severance benefits under the Policy are payable only if
you have signed the Companys Non-Solicitation, Confidentiality and Arbitration Agreement designed
for your position and have executed a Separation Agreement on the appropriate form provided by the
Company which contains a full release of all claims that you may have against the Company.
You also understand and acknowledge that the Company may modify or terminate the Policy prior
to a change in control for all employees who have not had a termination of employment prior to the
modification or termination as long as the modification applies to all executives in the same
position category.
By signing below, you acknowledge and agree that you have carefully read this memorandum in its
entirety, that you fully understand and agree to its terms and provisions, that you are signing the
memorandum knowingly and voluntarily, and you agree that it is final and binding on all parties.
If you have questions, please contact me. Otherwise, please sign below and return this
document to me.
IF YOU SIGN THIS DOCUMENT BELOW, IT BECOMES A LEGALLY ENFORCEABLE AGREEMENT.
ACKNOWLEDGED AND AGREED
I acknowledge the termination of my Employment Agreement and understand that I no longer will
be entitled to any benefits or compensation under that Agreement. Further, I understand that any
compensation or benefits that I may become entitled to receive on account of my termination of
employment will be governed by the terms of the Policy as it may be amended from time to time.
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