GNC 2014 Annual Report Download - page 108

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Signature Page to Separation Agreement and Mutual General Release and Waiver
IN WITNESS WHEREOF, the Executive has duly executed this Release on the date indicated as follows:
DATED this 11th day of November, 2014, by:
EXECUTIVE: _/s/ Gerald J. Stubenhofer
Gerald J. Stubenhofer
IN WITNESS WHEREOF, GNC has duly executed this Release, to be effective as of the Release Effective Date.
GENERAL NUTRITION CENTERS, INC.
By: /s/ Michael G. Archbold
Title: Chief Executive Officer
GNC HOLDINGS, INC.
By: /s/ Michael G. Archbold
Title: Chief Executive Officer
Exhibit A -
Separation Agreement and Mutual General Release and Waiver
Separation Benefits
Accrued Obligations: A lump sum payment equal to the sum of (x) any Base Salary amount accrued in respect of the period of the
Executive’s service with the Company through the Separation Date, which remains unpaid on such date, plus (y) any amount due
under the applicable vacation policy of the Company in respect of unused vacation days/paid time off accrued by the Executive, which
remain unused on the Separation Date, plus (z) reimbursement for all reasonable and necessary expenses incurred pursuant to the
policies referenced in Section 3.3 of the Employment Agreement through the Separation Date. These “Accrued Obligations” shall be
paid in full on the Release Effective Date.
Severance Payment: The Company shall pay the Executive an amount equal to $385,020.00, with such amount to be paid in
accordance with the Company’s normal payroll practices (the “installment payments”). In accordance with Section 4.3(c)(vii) of the
Employment Agreement, all installment payments that would otherwise have been paid between the Separation Date and the 60th day
following the Separation Date shall be paid in a lump sum on such 60th day following the Separation Date, and thereafter any
remaining installment payments shall commence on the first regular payroll date following