{"id":38705,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/consulting-and-settlement-agreement-unocal-corp-and-roger-c.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"consulting-and-settlement-agreement-unocal-corp-and-roger-c","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/consulting-and-settlement-agreement-unocal-corp-and-roger-c.html","title":{"rendered":"Consulting and Settlement Agreement &#8211; Unocal Corp. and Roger C. Beach"},"content":{"rendered":"<pre>                                                           \n                      CONSULTING AND SETTLEMENT AGREEMENT\n                      -----------------------------------\n\n\n     WHEREAS, Roger C. Beach (\"Mr. Beach\") ceased being Chief Executive Officer\nand Chairman of the Board of Unocal Corporation and Union Oil Company of\nCalifornia (jointly referred to as \"Unocal\") effective January 1, 2001.\n\n     WHEREAS, Unocal and Mr. Beach wish to document the terms of said\ntermination of employment and the terms of his role as a Consultant to Unocal\nCorporation.\n\n     THEREFORE, Unocal Corporation and Union Oil Company of California and Roger\nC. Beach (\"Mr. Beach\") hereby agree as follows:\n\n1.   Mr. Beach is hereby retained by the Board of Directors of Unocal as a\nConsultant for the period January 1, 2001 through December 31, 2001\n\n2.   Mr. Beach shall be available for telephonic consultation and for such\nmeetings as the Board of Directors of Unocal may request. If travel is required,\nMr. Beach shall be reimbursed for reasonable expense within 30 days of\nsubmitting documentation of such expenses.\n\n3.   Mr. Beach shall be paid $350,000 (Three Hundred and Fifty Thousand Dollars)\nfor such consulting.  Said sum, less any applicable withholding, shall be paid\non or about February 15, 2001. This payment shall not been treated as \"pay\",\n\"earnings\" or \"compensation\" under any plans or programs of Unocal.\n\n4.   Mr. Beach's termination of employment from Unocal and Union Oil Company of\nCalifornia shall be treated as \"at the convenience of the Company\" pursuant to\nthe Long-Term Incentive Plan of 1991, the Long-Term Incentive Plan of 1998 and\nthe Revised Incentive Compensation Plan. Therefore, Employee shall be entitled\nto the delivery of shares of Restricted Stock, payment of Performance Shares and\nthe extended period to exercise vested stock options applicable under the terms\nof said plans upon a termination of employment at the convenience of the\nCompany.\n\n \n5.   Employee's termination of employment shall not be deemed \"Voluntary\" or\n\"For Cause\" under that Promissory Note dated as of March 16, 2000. Therefore,\nthe acceleration of the payment due date under said Promissory Note to 60 days\nfollowing termination of employment shall not be applicable to Mr. Beach.\n\n6.   Mr. Beach has been granted a Performance Bonus Award pursuant to the Long-\nTerm Incentive Plan of 1998.  Mr. Beach's termination will be treated as other\nthan a \"Voluntary Termination\" or a \"Termination for Cause\".  Therefore, Mr.\nBeach shall be entitled to payment of a Performance Bonus as if he had remained\nin employment during the full Award Period, including without limitation, any\npayment under the Change Of Control provisions thereof.\n\n7.   Mr. Beach shall not be entitled to any other severance-type benefits,\nincluding without limitation, Unocal Redeployment Program or Unocal Termination\nAllowance Plan benefits, except as specifically noted above.  Mr. Beach shall\nnot be entitled to any payments under the Unocal Employee Agreement dated July\n28, 1998 by and between Mr. Beach and Unocal Corporation.\n\n8.   This CONSULTING AND SETTLEMENT AGREEMENT is a full and complete expression\nof the intent of the parties with respect to the subject matter of this\nAgreement.  No other agreement or representation, express or implied, has been\nmade by either party with respect to the subject matter of this Agreement.\n\n9.   This CONSULTING AND SETTLEMENT AGREEMENT shall be interpreted to be valid\nto the full extent possible under the laws of the State of California.\n\n10.  This Agreement shall be construed as a whole according to its fair meaning.\nIt shall not be construed strictly for or against Employee, Company or any\nRelease. This Agreement shall be governed by the statutes and common law of the\nState of California.\n\n\n                                       2\n\n \n\n     IN WITNESS WHEREOF, this AGREEMENT AND GENERAL RELEASE has been executed in\nduplicate originals.\n\n\nUNION OIL COMPANY OF CALIFORNIA\n AND UNOCAL CORPORATION\n\n\nBy: \/s\/ Charles R. Williamson\n    -------------------------\n \n                                             \/s\/ R. C. Beach\n                                             -------------------------------\n                                             Signature\n\n\nCharles R. Williamson                        R. C. Beach\n-----------------------------                -------------------------------\nPrint Name                                   Print Name\n\n                                             \nMarch 1, 2001                                2\/2\/01      \n-----------------------------                -------------------------------\n                                             Date\n\n\n\n<\/pre>\n<p>virtual=&#8221;\/includes\/techdeals\/${SERVER_NAME}\/includes\/bottom.html&#8221;&#8211;&gt;<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9186],"corporate_contracts_industries":[9409],"corporate_contracts_types":[9539,9541],"class_list":["post-38705","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-unocal-corp","corporate_contracts_industries-energy__exploration","corporate_contracts_types-compensation","corporate_contracts_types-compensation__consulting"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38705"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38705"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38705"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}