Exhibit 10.1
AGREEMENT AND
RELEASE
For good and valuable consideration,
receipt of which is hereby acknowledged, Virgil Leslie (hereinafter
referred to as “Employee”) and Quality Distribution,
Inc. ( hereinafter referred to as the “Company” )
together with each and every one of its predecessors, successors
(by merger or otherwise), parents, subsidiaries, affiliates,
assigns, directors, officers, employees and agents whether present
or former (hereinafter collectively referred to as the
“Employer”), hereby agree as follows:
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1.
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The
Employee’s employment with the Company shall cease on
April 14, 2008 (the “Separation Date”). This
Agreement shall supersede any previous employment agreement with
the Employee.
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2.
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The Severance
Period for The Employee shall be 64 weeks and shall be paid at the
Employee’s current base salary. The severance, minus
applicable withholding and tax deductions required by law, will be
paid in accordance with the normal payroll cycles.
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3.
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The Employee
shall receive medical, dental and vision coverage (if applicable )
during 64 weeks of the Severance Period at the applicable rates as
all other employee’s , including new rates that become
applicable for 2009. The Employee’s COBRA benefits (18 month
eligibility ) will start on the Separation Date. During the first
64 weeks the Company will pay for the benefit except for the
Employee portion. After 64 weeks, if the Employee remains on COBRA,
the Employee is responsible for the entire COBRA payment. If the
Employee obtains other employment that offers medical, dental , and
vision coverage, within the Severance Period, the Employee is
required to take those benefits and cease COBRA coverage from The
Company.
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4.
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All life
insurance coverage will cease as of the Separation Date.
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5.
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Short term and
long term disability coverage cease as of the Separation
Date.
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6.
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The Employee
shall retain the right to exercise vested options until
April 14, 2009. All unvested options will be forfeited
effective as of the Separation Date.
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7.
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If applicable
401k contributions and Deferred Compensation contributions can only
be deducted through Employee’s last day of active employment,
which is the Separation Date.
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8.
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If Employee
files for Unemployment Compensation and collects weekly benefits
during the severance pay periods, the amount that Employee receives
will be deducted from Employee’s severance checks.
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The Employee agrees to the following
in exchange for the conditions listed above:
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1.
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The Employee
agrees that he shall cooperate with Employer in the future should
the Employer need information, testimony or other material relating
to the Employee’s employment with the Employer. The Employer
agrees to reimburse the Employee for any expenses incurred or loss
suffered as a result of providing such cooperation.
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2.
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In consideration of the severance
pay described in this letter, you hereby release and forever
discharge Quality Distribution including its parent, subsidiaries,
affiliates, directors and officers (hereinafter collectively
referred to as the Company) from any and all matter of actions,
suits, proceedings, claims and demands of any kind or character
whatsoever, in law or in equity, in any way directly or indirectly
related to or connected with your employment with the Company or
the termination of employment with the Company, including but not
limited to claims for wrongful
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discharge, breach of contract, any
and all forms of employment discrimination in violation of any
federal, state or local law (including but not limited to claims
for discrimination on the basis of race, color, religion, sex,
national origin, age and/or mental or physical handicap, whether
asserted under Title VII of the Civil Rights Act of 1964, as
amended, 42 U.S.C. Section 2001e et seq ., the Civil
Rights Act of 1870, 42 U.S.C. Section 1981, The Age
Discrimination in Employment Act of 1967, as amended, 29 U.S.C.
Section 621 et seq. , The Rehabilitation Act of 1972,
as amended, 29 U.S.C. Section 701 et seq., and/or any
and all other claims for additional compensation or damages of
whatsoever kind arising in connection with your employment and/or
separation from employment with the Employer. In addition, this
Agreement and Release specifically includes all claims for costs
and/or attorney’s fees, if any, incurred by you in connection
with any aspect of your employment relationship and/or your
separation from employment with the Employer.
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3.
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The Employee
specifically understands and hereby agrees that the provisions of
this Agreement and Release extend to all of the aforementioned
actions, whether presently matured or not matured, known or
unknown, suspected or unsuspected by him, and further agrees that
this constitutes an essential material term of this Agreement. The
Employer and Employee understand and acknowledge that this
Agreement and Release constitutes a binding legal contract, and
expressly consent that the Agreement shall be given full force and
effect according to each and all of its express terms and
provisions.
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4.
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It is
specifically understood and agreed that this Agreement and Release
shall not in any way be construed as an admission that the Employer
has violated any federal, state or local law or common law duty, or
that any action taken by the Employer with respect to the Employee
has been unwarranted, unjustified, discriminatory or otherwise
unlawful.
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5.
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It is
specifically understood and agreed that the provisions of this
Agreement and Release are severable, and that, if any provision of
this Agreement and Release or if the application thereof under any
circumstances if found to be invalid or unenforceable, all other
provisions that can be given effect without the invalid or
unenforceable provision shall remain valid and
enforceable.
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6.
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The Employee
hereby acknowledges that he is acting of his own free will, that he
has been afforded a period of not less than twenty-one
(21) days within which to read and consider the terms of this
Agreement and Release, that he has been encouraged to seek the
advice of counsel with respect to this Agreement and Release, and
that he fully understands all of the provisions and effects of this
document. In addition, the Employee hereby acknowledges that
neither the Employer nor any of its agents, representatives, or
attorneys has made any representations concerning the terms of this
Agreement and Release other than those contained herein.
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7.
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The Employee
acknowledges that he is fully aware that he remains free to revoke
this Agreement and Release for a period of seven (7) days
following the execution by him/her of this Agreement and Release,
by providing written notice to the Employer of his intention to
revoke within the seven (7) day period in question. The
Employee further understands that this Agreement shall not become
effective or enforceable until the seven (7) day revocation
period has expired.
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8.
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The Employee
agrees to be bound by Appendix A and Appendix B, which are attached
hereto and incorporated herein by reference.
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IN WITNESS WHERE
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