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Exhibit 10.18
SEPARATION AGREEMENT
This
Separation Agreement ("Agreement") is made and entered into by
and
between Kevin H. Jensen ("Employee") and
Swift Transportation Co. Inc., its
subsidiaries, related companies, business
affiliates and the directors,
officers, employees, agents, and successors
of such entities (the "Company").
1.
Employee agrees to voluntarily terminate his employment with
the
Company effective on June 24, 2005. Twelve
(12) business days after receiving a
fully executed original of this Agreement
from Employee (i) the Company will pay
Employee (by U.S. Mail) a check in the
gross amount of $140,843 ($65,843 of
which is reimbursement of expenses incurred
by Employee for which Employee has
provided receipts) less applicable
withholdings and (ii) the Company will
forgive the Employee's indebtedness to the
Company in the amount of $231,915 the
full amount of which will be recognized as
taxable income to Employee; provided
that Employee has not revoked this
Agreement as provided in Paragraph 4(G),
below. Employee agrees that the foregoing
constitutes the entire amount of
monetary consideration provided to Employee
under this Agreement.
2.
Employee represents that he has not filed any complaints, claims,
or
actions against the Company, its officers,
agents, directors, employees, or
representatives with any state, federal, or
local agency or court and that
Employee will not do so at any time
hereafter and that if any agency or court
assumes jurisdiction of any complaint,
claim, or action against the Company or
its affiliated companies or any of their
officers, agents, directors, employees,
or representatives on behalf of Employee,
Employee will direct that agency or
court to withdraw from or dismiss with
prejudice the matter as to any claim made
by Employee or on Employee's behalf.
3.
Employee hereby irrevocably and unconditionally releases and
forever
discharges the Company and each and all of
its officers, agents, directors,
employees, representatives, and their
successors and assigns and all persons
acting by, through, under, or in concert
with any of them from any and all
charges, complaints, claims, grievances,
actions, and liabilities of any kind or
nature whatsoever, known or unknown,
suspected or unsuspected (hereinafter
referred to as "claim" or "claims") which
Employee at any time heretofore had or
claimed to have or which Employee may have
or claim to have regarding events
that have occurred as of the date of this
Agreement, including, without
limitation, any and all claims related or
in any manner incidental to Employee's
employment with the Company or the
termination therefrom or otherwise. All such
claims (including related attorneys' fees
and costs) are forever barred by this
Agreement regardless of whether those
claims are based on any alleged breach of
a duty arising in a statute, contract, or
tort; any alleged unlawful act,
including, without limitation,
discrimination or harassment of any kind; any
other claim or cause of action; and
regardless of the forum in which it might be
brought.
4.
Employee hereby represents and agrees he:
A. has
reviewed all aspects of this Agreement;
B.
has
carefully read and fully understands all the provisions of
this Agreement;
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C.
understands that in agreeing to this docu
