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SEVERANCE AND RELEASE AGREEMENT

Release Agreement

SEVERANCE AND RELEASE AGREEMENT 

     
 | Document Parties: INTERSECTIONS INC | C. Patrick Garner You are currently viewing:
This Release Agreement involves

INTERSECTIONS INC | C. Patrick Garner

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Title: SEVERANCE AND RELEASE AGREEMENT
Date: 3/16/2007
Industry: Computer Services     Sector: Technology

SEVERANCE AND RELEASE AGREEMENT 

     
, Parties: intersections inc , c. patrick garner
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Exhibit 10.182

SEVERANCE AND RELEASE AGREEMENT

     This Severance and Release Agreement (this “Agreement”) is made as of this 27th day of October, 2006, by and between Intersections Inc. (the “Corporation”) and C. Patrick Garner (the “Executive”).

W I T N E S S E T H

     WHEREAS, the Executive has been employed by the Corporation as its Executive Vice President for Strategic Policy pursuant to an Employment Agreement between the parties dated January 16, 2004 (the “Employment Agreement”), and was subsequently appointed by the Board of Directors of the Corporation to serve as its Chief Marketing Officer; and

     WHEREAS, the parties wish with this Agreement, among other things, to terminate the employment relationship created under the Employment Agreement or otherwise, to provide for certain severance and related benefits to the Executive as required by the Employment Agreement in connection with such termination, and to provide for a release of the Corporation by the Executive any claims arising out of such termination, all as more particularly set forth herein.

     NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

     1.  Termination . Executive’s employment by the Corporation will be terminated, effective October 27, 2006.

     2.  Severance Benefit . In accordance with Section 6(g) of the Employment Agreement, the Corporation shall pay to the Executive, net of any amounts required to be withheld pursuant to Section 9(c) thereof, a lump sum severance benefit in an amount equal to $400,557.79 on April 27, 2006, which is one hundred and eighty one days following the termination of the Executive’s employment by the Corporation.

     3.  COBRA Benefits . The Corporation shall comply fully with its obligations under Section 6(g) of the Employment Agreement with respect to medical benefit continuation.

     4.  General Release .

          (a) The Executive hereby releases and discharges the Corporation, its directors, officers, agents, employees and any and all affiliated companies, as well as any successor to the Corporation (each, a “Released Party” and collectively, the “Released Parties”), from all claims, liabilities, demands, obligations and causes of action fixed or contingent, which the Executive may have or claim to have against the Corporation or any other arising from his employment or as a result of the termination

 


 

of such employment up to the date of execution of this Agreement. This release includes but is not limited to any claim relating in any way to such employment or the cessation of such employment with the Corporation, including claims under the Age Discrimination in Employment Act (&


 
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