EXHIBIT 10.36
EMPLOYMENT SEPARATION AGREEMENT BETWEEN PYRAMID BREWERIES
INC. AND PATRICK COLL
This
agreement (the “Employment Separation Agreement”)
between you, Patrick Coll, and us, Pyramid Breweries, Inc.
(“Pyramid”), is dated for reference purposes
March 5, 2008, which is the date we delivered it to you for
your consideration.
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1. |
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Your full-time employment by us is terminated effective
March 7, 2008 (the “Separation Date”). |
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2. |
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You will be paid: (a) your regular salary and car
allowance, less authorized deductions and withholdings, through the
Separation Date; (b) the cash value of your current, accrued
but unused vacation; (c) a pro rata share of the 2008 gain
sharing award for which you are eligible through the Separation
Date when or if it is awarded; and (d) your normal salary,
less authorized deductions and withholdings, from the Separation
Date through September 7, 2008, which represents a period of
six months. Any sick leave you have accrued will be forfeited on
the Separation Date. You understand and agree that you have no
right to receive any further payments for salary, bonuses, profit
sharing or any other form of compensation or incentive
compensation. Payments under 2 (d) will not begin until you
have returned all Pyramid property, executed this Employment
Separation Agreement and the revocation period set forth at
paragraph 14 has expired. |
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3. |
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Your participation in all Pyramid health/dental plans ends on
September 30, 2008 per the terms of your Termination Clause.
After that date continuation coverage of health/dental insurance
will be made available to you and your dependents, at your expense,
to the extent required by federal law. Your rights under any
retirement benefit plans in which you may have participated will be
determined in accordance with the written plan documents governing
those plans. |
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4. |
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You will be paid your 2007 personal performance bonus awards
for which you are eligible for under the 2007 Officer Incentive
Compensation Plan in the year of termination upon approval of the
Compensation Committee. |
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5. |
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You will be granted a pro rata share through March 7, 2008
(your termination date) for any stock awards or stock units as set
forth in the letter dated April 26, 2006 re: Revision in
Officer Compensation and Termination Provisions. |
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6. |
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All telephone reference checks and verifications of your prior
employment must be directed to Human Resources. In response to any
such inquiries, Human Resources will only disclose information
consistent with the letter and spirit of the letter of
recommendation. |
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7. |
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In consideration for the payments and other promises described
at paragraphs 1, 2, 3 and 4, you hereby release us from any and all
claims of any kind, known or unknown, that arose on or before the
date you signed this Employment Separation Agreement. The claims
that you are releasing include, but are not limited to, all claims
related to or arising out of your employment by Pyramid and/or the
separation of that employment. You specifically understand that you
are waiving any rights or claims that you may have under any
federal, state or local law, including without limitation the Fair
Employment & Housing Act (FEHA), Cal. Gov. Code § 12900
et seq; the California Family Rights Act of 1991 (CFRA), as
amended 1993, Cal. Gov. Code 12945.2; the Unruh Civil Rights Act,
Cal. Civ. Code § 51, et seq.; the Ralph Civil Rights Act, Cal.
Civ. Code § 51.7; the Bane Civil Rights Act, Cal. Civ. Code
§ 52.1; the California Labor Code, including without
limitation §§ 96, 98, 200 — 235, 500-554, 1102.1,
and 1171 — 1205; the Civil Rights Act of 1964 (including
Title VII of that Act); the Americans with Disabilities Act; and
the Age Discrimination in Employment Act of 1967. You understand
that the claims you are releasing include any cl |
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