{"id":40466,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/separation-agreement-excite-home-and-mark-o-leary.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"separation-agreement-excite-home-and-mark-o-leary","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/separation-agreement-excite-home-and-mark-o-leary.html","title":{"rendered":"Separation Agreement &#8211; Excite@Home and Mark O&#8217;Leary"},"content":{"rendered":"<pre>\n\nMay 30, 2001\n\n\nMr. Mark O'Leary\n\nDear Mark:\n\nThis letter confirms the specific details of your transition and \nseparation from Excite@Home, and is consistent with the terms of the \nExecutive Retention and Separation Agreement letter dated May 15, \n2001 (attached).\n\n1.   Separation. Your separation date and last day of employment with \nthe Company will be July 15, 2001. Between now and July 15, 2001, you \nwill work on projects at my direction, and will develop and implement \na transition plan for your current responsibilities. You and I will \nmeet regularly to review project status and transition. You agree to \nperform these assignments with the highest degree of professionalism.\n\n2.   Vacation. As a section 16b executive officer, at the point of \nyour separation you will have a zero vacation balance.\n\n3.   Severance Benefits. Conditioned on your execution of a full \nrelease and waiver of claims including a waiver of the Executive \nSeverance and Retention Agreement (the \"Agreement\"), you will be \nentitled to the following benefits:\n\n.  Salary through the Separation Date paid according to regular payroll\npractices;\n\n.  Twelve months of paid base salary continuation from July 16, 2001, \nthrough July 15, 2002, according to regular payroll practices;\n\n.  Medical, dental and vision coverage will be provided to you at company\nexpense under the standard terms of COBRA for a period of twelve months\nafter your separation date, provided that you are not eligible for benefits\nfrom a new employer. In the event that you become covered under another\nemployer's group health plan, you will promptly notify the Senior VP Human\nResources in writing and the Company will cease COBRA coverage. After the\nperiod of company paid COBRA benefits, you will have the option of\ncontinuing your COBRA coverage at your own expense through the maximum\nCOBRA coverage period of eighteen months from your separation date, subject\nto the standard terms of COBRA. If you still require medical, dental and\nvision coverage after the eighteen month period and are still not eligible\nfor benefits under a new employer, then you will have the option of\nsecuring alternate coverage that provides for equivalent benefits.\nRegarding alternate coverage, should your costs to purchase equivalent\nbenefits coverage be above the company's COBRA rates then in effect, the\ncompany will reimburse any additional costs above the COBRA. The medical,\ndental and vision benefits you are eligible to receive under COBRA are\nidentical to the benefits provided to Excite@Home employees. For life and\ndisability insurance, we will reimburse the cost of an individual policy\nthat provides equivalent coverage for a period of 12 months from your\nseparation date;\n\n \nPage 2\n\n.  Stock Options. All outstanding stock option grants will continue to vest\nand remain exercisable for a period of twelve (12) months from your\nseparation date of July 15, 2001. Effective July 14, 2002, your vesting\nwill stop and you will have 90 days to exercise any vested options;\n\nThese benefits are subject to your performance of transition duties through the\nSeparation Date, and the execution of a full release and waiver agreement,\nincluding a non-compete agreement and one-year non-solicitation of Excite@Home\nemployees.\n\n4.   Confidentiality. The provisions of our agreement will be held in\nstrictest confidence by you and the Company and will not be disclosed except\nthat you may disclose this Agreement to your immediate family; both you and the\nCompany may disclose this Agreement in confidence to their respective attorneys,\naccountants, auditors, tax preparers, and financial advisors; the Company may\ndisclose this Agreement as necessary to fulfill standard or legally required\ncorporate reporting or disclosure requirements; and the parties may disclose\nthis Agreement insofar as such disclosure may be necessary to enforce its terms\nor as otherwise required by law. In particular, and without limitation, you\nagree not to disclose the terms of this Agreement to any current or former\nCompany employee.\n\nIf this Agreement is acceptable to you, please sign below and return the\noriginal to me.\n\nI wish you good luck in your future endeavors.\n\nSincerely,\n\n\nBy:__________________________________________\n       Patti Hart\n\n\nAGREED:\n\n                                                              \n_____________________________________________       Dated:______________________\n       Mark O'Leary\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6782],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9539,9551],"class_list":["post-40466","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-at-home-corp","corporate_contracts_industries-technology__programming","corporate_contracts_types-compensation","corporate_contracts_types-compensation__severance"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40466","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=40466"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40466"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40466"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}