Exhibit 10.16
Separation and Release Agreement
for Duane Huesers dated December 27, 2005
December 27,
2005
SEPARATION AND RELEASE
AGREEMENT
THIS SEPARATION AND RELEASE
AGREEMENT (hereinafter referred to as “Agreement”) is
made and entered into by DUANE A. HUESERS (hereinafter referred to
as “Huesers”), and COLDWATER CREEK INC., its
successors, assigns, subsidiaries, related companies, directors,
officers, owners, shareholders, managers, employees, agents,
insurers, attorneys, accountants, affiliates, benefit plans,
benefit administrators and providers, and control persons
(hereinafter collectively referred to as “CWC” except
as otherwise specifically noted).
WHEREAS, Huesers and CWC desire to
settle fully and finally any and all differences between them that
have or might arise out of Huesers’ employment with
CWC;
NOW, THEREFORE, in consideration of
the mutual promises set forth herein, it is agreed as
follows:
1. Huesers has submitted a written
resignation of employment to CWC that is to be effective at the
close of business on January 31, 2006.
2. CWC shall provide the
following payment and benefits at the time of Huesers’
separation of employment with CWC on January 31,
2006:
(a) Severance Payment :
CWC agrees to pay Huesers a severance payment in the amount of four
(4) months of his last base salary at CWC, less applicable
federal and state withholding taxes;
(b) Accrued Vacation : CWC
shall pay Huesers all accrued, unused vacation pay through the time
of his separation of employment on January 31,
2006;
(c) COBRA Benefits : CWC
shall pay four (4) months of Huesers’ COBRA health
insurance premiums following his employment separation date
conditioned upon Huesers timely exercising his rights and necessary
paperwork to obtain COBRA benefits; and
(d) 401(k) Benefits :
Huesers shall not be entitled to make or receive any 401(k)
contributions after January 31, 2006.
3. No benefits or compensation
other than described above shall be owing by CWC to
Huesers.
4. Huesers agrees and acknowledges
that the payments and other consideration made pursuant to this
Agreement constitute valid consideration for his release of any and
all claims, and that the payments made to him exceed any payments
or benefits to which Huesers may be entitled to receive from
CWC.
5. Full Release. In
consideration of the payments and benefits set forth above,
Huesers, on behalf of himself and his marital community, heirs,
estates, executors, administrators, successors, and assigns
DOES FULLY RELEASE AND DISCHARGE CWC from any and all
claims, causes of action, judgments, obligations, damages, or
liabilities of whatsoever kind and character, including, but not
limited to, all claims arising out of or relating to Huesers’
employment with CWC, or to any acts or events involving Huesers and
CWC, WHETHER CURRENTLY KNOWN OR SUSPECTED, OR UNKNOWN OR
UNSUSPECTED .
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Huesers represents and warrants that he has not
assigned any such claims or authorized any other person or entity
to assert any such claims on Huesers’ behalf. Further,
Huesers agrees that under this Agreement he waives any and all
claims for damages incurred at any time after the date of this
Agreement because of alleged continuing effects of any alleged acts
or omissions involving CWC which may have occurred on or before the
date of this Agreement, and any right to sue CWC for monetary or
injunctive relief against the alleged continuing effects of any
alleged past acts or omissions occurring prior to the date of this
Agreement. No portion of this Agreement shall be construed to waive
any rights or obligations of the parties under the Industrial
Insurance laws for the State of Idaho.
HUESERS UNDERSTANDS AND EXPRESSLY
AGREES THAT THIS AGREEMENT EXTENDS TO ANY AND ALL FEDERAL AND
STATE LAW CLAIMS OF EVERY NATURE AND KIND WHATSOEVER, KNOWN OR
UNKNOWN, SUSPECTED OR UNSUSPECTED, PRESENT OR PAST, IF ANY
, WHICH EXIST THROUGH THE SEPARATION OF HIS EMPLOYMENT ON
JANUARY 31, 2006, INCLUDING, BUT NOT LIMITED TO, ALL CLAIMS
INVOLVING SEX, SEXUAL HARASSMENT, RETALIATION, WHISTLEBLOWER,
PUBLIC POLICY WRONGFUL DISCHARGE, AGE, DISABILITY OR HANDICAP
DISCRIMINATION, EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA),
COBRA, WARN ACT, OR ANY CLAIMS IN TORT OR CONTRACT OR IMPLIED
CONTRACT RELATED TO HUESERS’ EMPLOYMENT OR TO ANY ALLEGED
ACTS OR OMISSIONS OF CWC INVOLVING HUESERS.
Specifically, but without in any way
limiting the generality of the foregoing, Huesers agrees to refrain
from and shall not institute, prosecute, file, process or assist or
cooperate in any Human Rights Commission charges, EEOC charges,
claims under the AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967
AS AMENDED, THE CIVIL RIGHTS ACT OF 1991, THE
AME
