{"id":40504,"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-export-corp-and-charles-s.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"severance-agreement-coca-cola-export-corp-and-charles-s","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/severance-agreement-coca-cola-export-corp-and-charles-s.html","title":{"rendered":"Severance Agreement &#8211; Coca-Cola Export Corp. and Charles S. Frenette"},"content":{"rendered":"<pre>\n                [LETTERHEAD OF THE COCA-COLA EXPORT CORPORATION]\n\n\n                                August 22, 2001\n\n\nMr. Charles S. Frenette\nLondon, England\n\nDear Charlie:\n\nThis letter outlines the terms under which you will separate from The Coca-Cola\nExport Corporation (\"Export Corporation\"). You have resigned as President and\nChief Operating Officer, Europe, Eurasia and Africa Group effective immediately.\nYou will be entitled to your remuneration under your contract with the company\nup to September 30, 2001 and will continue to receive all payments, allowances,\nwith benefits accrued up to that date under the International Service Program.\n\nYour repatriation will be effective October 1, 2001. You should perform no work\nin the United Kingdom after September 30, 2001\n\nTAXES\n-----\nYou are entitled to a consultation with Ernst &amp; Young, at no cost to you, to\ndiscuss the implications of your repatriation and the companys tax equalization\nprogram. Details regarding income taxes and tax equalization program have been\nprovided to you in a separate letter.\n\nINTERNATIONAL SERVICE PROGRAM\n-----------------------------\nThis section outlines the relocation provisions applying to your repatriation\nunder the International Service Program.\n\nRelocation\n----------\nThe company will pay the expense of packing and moving normal personal and\nhousehold effects as well as any normal import duties for you and your family\nfrom the host country to the home country. It will also pay the storage\nexpenses, if necessary, in transit. The company will cover storage fees, long\nterm or in transit up to 60 days after your household goods have arrived in the\nhome country. The company will also pay normal insurance coverage on household\neffects while in transit. Please refer to the RELOCATION section of THE\nINTERNATIONAL SERVICE PROGRAM GUIDE for further details. Since your family may\nremain in London during the school year, the relocation provisions will be\navailable to you though August 31, 2002.\n\nYou will be provided a temporary living allowance for the transition back to the\nUnited States of $8,950 net of tax, subject to U.S. Social Security.\n\n\n\nMr. Charles S. Frenette\nLondon, England\nAugust 22, 2001\nPage 2\n\n\nAllowances\n----------\nAll payments in this section are paid net of tax, subject to U. S. Social\nSecurity. Relocation allowances will be paid following receipt of your signed\nletter upon your repatriation date or after submission of documentation as\nappropriate. You will be eligible for the following Repatriation Allowances:\n\n     - International Service Premium: $5,000\n     - Resettlement Allowance: $6,000 \n     - Voltage Allowance: $2,000 with an additional $3,000 if two or more major\n       appliances must be purchased\n     - Car Purchase Assistance: $5,700 for primary car and $4,100 for secondary\n       car (documentation of purchase is needed to receive assistance)\n     - Car Disposal Assistance (documentation of purchase and sale is needed to\n       receive assistance).\n\nAnnual Leave\n------------\nAny unused annual leave account balance at the date of repatriation will be\nforfeited. Your annual leave days will be pro-rated and the unused and accrued\nportion will be liquidated in accordance with the International Service Program\nGuide.\n\nCitibank\n--------\nIf you participate in the Citibank PBOE program, the company will continue to\npay for the service fees associated with Citibank for 60 days following your\nassignment termination date. After this time, you will be liable for any fees\nassociated with Citibank, should you decide to maintain this account.\n\nOther\n-----\nShould the company's policies and procedures affecting International Service\nAssociates generally change, such changes will apply to you. Please feel free to\ncontact Pat O'Neil at 404-676-7519 or Anne Fletcher at 404-676-2656 if you have\nany questions regarding the terms and conditions.\n\n                                        Sincerely,\n\n\n                                        \/s\/ James E.Chestnut\n                                        --------------------------\n                                        James E. Chestnut\n\nACKNOWLEDGED:\n\n\/s\/ Charles S. Frenette                      29\/08\/01\n-------------------------               -----------------\nCharles S. Frenette                             Date\n\n\ncc:     Ms. Coretha Rushing\n        Ms. Pat O'Neil\n        Ms. Anne Fletcher\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":[9539,9544],"class_list":["post-40504","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__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40504","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=40504"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40504"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40504"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}