{"id":40502,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/severance-agreement-coca-cola-co-and-joseph-r-gladden-jr.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"severance-agreement-coca-cola-co-and-joseph-r-gladden-jr","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/severance-agreement-coca-cola-co-and-joseph-r-gladden-jr.html","title":{"rendered":"Severance Agreement &#8211; Coca-Cola Co. and Joseph R. Gladden Jr."},"content":{"rendered":"<pre>\n                      [LETTERHEAD OF THE COCA-COLA COMPANY]\n\n                                 June 12, 2001\n\n\n\n\nPERSONAL AND CONFIDENTIAL\n-------------------------\n\nMr. Joseph R. Gladden, Jr.\n210 Nacoochee Drive NW\nAtlanta, GA  30305\n\nDear Joe:\n\nThanks for our recent conversations. I believe we have reached an agreement\nwhich accommodates the Company's interest in a clear transition, Deval's\ninterest in having access to you and your experience for his orientation, and\nyour interest in retaining the October 2000 option grant. This will confirm our\nunderstandings.\n\nThe Company will extend your employment on a part-time basis through November 1,\n2001. This will enable you to retain the options granted to you in October 2000,\nwhich you would otherwise forfeit upon your original retirement date of June 1,\n2001. You will be compensated at 50% of your current base salary from June 1\nthrough October 31, 2001. You will continue to participate in all benefit\nprograms until October 31, 2001 and you will be considered for a prorated\nincentive bonus for 2001 based on Company performance, personal performance and\ncontributions. Your retirement will be effective on November 1, 2001.\n\nDuring your continued employment, your assignment will be to work with Deval as\nneeded to transition any activities or other work, and to assist him with his\norientation.\n \nIn exchange for the Company's agreement to continue your employment, you agree\nnot to disparage the Company, its officers or its employees. We will prepare for\nyour review and approval an appropriate amendment to the stock option agreement\nmemorializing this term and making the October 2000 option grant subject to\nforfeiture in the event of disparagement.\n\n\n\nJune 12, 2001\nPage 2\n\n\n\n\n\nThe Company will provide whatever assistance you need to help you vacate your\noffice by June 20, 2001. At times when you are on site, the Company will provide\nsuitable office space and support. Through your extended employment, the Company\nwill also pay your normal work-related expenses, such as appropriate travel\nexpenses.\n\nUpon your retirement, in accordance with the terms of the plans, all of the\nother options that you hold will be fully vested and exercisable according to\ntheir terms. In addition, your restricted stock will be released to you at that\ntime. The amendment we have discussed will apply only to the October 2000 grant.\n\nIf your services are required by the legal function after November 1, at the\ndiscretion of the General Counsel, the Company would agree to a consulting\nagreement at a daily rate of $1,500 for services rendered.\n\nWe appreciate your long and loyal service on behalf of The Coca-Cola Company.\nThank you for helping us accommodate all of the pertinent interests. We will get\nyou a draft amendment soon. Pat O'Neil and her staff will effect the other\nnecessary changes.\n\n                                        Sincerely,\n\n\n                                        \/s\/ James E. Chestnut\n\n\n\n\n\n\n\nAccepted:  \/s\/ Joseph R. Gladden, Jr.\n           -------------------------- \n           Joseph R. Gladden, Jr.\n\nDate:      July 17, 2001\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7137],"corporate_contracts_industries":[9421],"corporate_contracts_types":[9539,9551],"class_list":["post-40502","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-coca-cola-co","corporate_contracts_industries-food__beverages","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\/40502","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=40502"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40502"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40502"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}