Exhibit 10.66
CONFIDENTIAL RESIGNATION
AGREEMENT
AND GENERAL RELEASE OF
CLAIMS
Peg Wynn (“Executive”)
was employed by Adobe Systems Incorporated (the
“Company”) on or about January 6, 2006. Executive
has now decided to resign from her employment with the
Company. It is the Company’s desire to provide
Executive with certain benefits that she would not otherwise be
entitled to receive upon her resignation and to resolve any claims
that Executive has or may have against the Company.
Accordingly, Executive and the Company agree as set forth
below. This Agreement
shall be effective on the eighth day after it is signed by
Executive , but only if Executive has not previously revoked
her acceptance of this Agreement .
Executive hereby resigns voluntarily
from her employment and any positions that she holds as an officer
of the Company and/or any of its subsidiaries, effective as of the
earlier of (a) March 2, 2007, or (b) the business day prior to the
date on which Executive first commences employment with another
employer (the “Resignation Date”). At all times
during prior to the Resignation Date, Executive will conduct
herself in a professional manner, will take no actions that are not
in the best interests of the Company, and will strictly comply with
the terms of this and any other Agreements between Executive and
the Company.
During the period up to the
Resignation Date, the Company will continue to provide Executive
with the same base salary and employee benefits that she was
receiving.
The Company shall also provide
Executive with the following benefits:
(a)
a lump sum severance payment equal
to $290,700, less applicable withholding;
(b)
in the event that Executive elects
to obtain continued group health insurance coverage in accordance
with federal law (COBRA) following the Resignation Date, the
Company will pay for the premiums for such coverage through the
earlier of September 2, 2007 or the date on which Executive first
obtains or is entitled to obtain other group health insurance
coverage; thereafter, Executive may elect to purchase continued
group health insurance coverage at her own expense in accordance
with COBRA;
(c)
the Company agrees that it will not
contest any claim for unemployment benefits that may be filed by
Executive after the Resignation Date.
Executive understands and
acknowledges that she shall not be entitled to any payments or
benefits from the Company other than those expressly set forth in
Paragraph 3 and this Paragraph 4. Company shall provide the
severance payment in Paragraph 4(a) to Executive within 15 days of
the date this Agreement is re-signed by Executive on or after the
Resignation Date.
5. Executive
and his successors release the Company and its current and former
shareholders, affiliates, investors, officers,
directors,
1
employees, agents, attorneys,
insurers, legal successors, and assigns of and from any and all
claims, actions and causes of action, whether now known or unknown,
which Executive now has, or at any other time, had or shall or may
have against those released parties based upon or arising out of
any matter, cause, fact, thing, act or omission whatsoever
occurring or existing at any time up to and including the date on
which he signs this Agreement including, but not limited to, any
claims of breach of contract, wrongful termination, retaliation,
fraud, defamation, infliction of emotional distress or national
origin, race, age, sex, sexual orientation, disability or other
discrimination or harassment under the Civil Rights Act of 1964,
the Age Discrimination In Employment Act of 1967, the Americans
With Disabilities Act, the Fair Employment and Housing Act, or
any
