Oracle 2010 Annual Report Download - page 143

Exhibit 10.15
RESIGNATION AGREEMENT AND GENERAL RELEASE OF ALL CLAIMS
This Resignation Agreement and General Release of All Claims (hereinafter “Agreement”) is made and entered into by and between: Jeff Epstein and his
heirs, administrators, agents, representatives, executors, successors and assigns (hereinafter collectively referred to as “Epstein”); and Oracle America, Inc., and
each of its current and former officers, administrators, agents, representatives, shareholders, directors, employees, executors, successors, assigns, subsidiaries,
parent companies, affiliates, predecessor or successor companies, or any other individuals or entities related thereto or potentially liable with respect to Epstein’s
claims (hereinafter collectively referred to as “Oracle”).
WHEREAS, Epstein resigned from his position at Oracle as Chief Financial Officer and Executive Vice President, and his Oracle employment ended on
April 25, 2011.
WHEREAS, Oracle appreciates and acknowledges Epstein’s many contributions prior to his resignation.
NOW, THEREFORE, in consideration of the following covenants and promises and for other valuable consideration, this Agreement is entered into by the
undersigned parties.
1. Consideration. Ten days following Epsteins’s execution of this Agreement, Oracle shall transmit to Epstein a gross lump sum payment of Eight Hundred
Thousand Dollars and No Cents ($800,000.00), less ordinary payroll deductions and withholdings including state, federal and local tax. Epstein agrees that
the foregoing payment constitutes consideration for full, complete and final settlement and release of any and all claims, including but not limited to any
claims, actual or potential, known or unknown, which arise under or relate to the Age Discrimination in Employment Act of 1967 as amended, Epstein’s
employment relationship with Oracle, the changes in his employment status, Epstein’s compensation, the termination of the employment relationship
between him and Oracle or any other conduct of Oracle occurring prior to the execution of this Agreement. Epstein also agrees and acknowledges that the
foregoing payment constitutes full and complete satisfaction of any and all claims for severance benefits under any applicable severance plan, policy, or
agreement. Epstein agrees and acknowledges that he is not entitled to any additional salary, bonus payment or other variable compensation for Fiscal Year
2011, prorated or otherwise, and further agrees and acknowledges that he has already been paid any bonus he may have been eligible for in Fiscal Year
2010 or prior.
Epstein understands that, to the extent Oracle was required to provide pay-in-lieu-of-notice to him pursuant to any federal, state or local mass layoff,
reduction-in-force, and/or plant closing law (including, without limitation, the Federal Worker Retraining and Notification Act [“WARN”] and similar
state laws, including,
Source: ORACLE CORP, 10-K, June 28, 2011 Powered by Morningstar® Document Research℠