Jamba Juice 2013 Annual Report Download - page 102

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SUPPLEMENT TO SEPARATION AGREEMENT AND RELEASE
This Supplement to the Separation Agreement and Release executed October 22, 2013 (“Supplement”) is made by and between Jamba Juice
Company, a California corporation (the “Company”), and the undersigned, Bruce Schroder (referred to herein as “Executive,” “you” and “your”), and
amends the Separation Agreement and Release (“Separation Agreement”), attached hereto as Exhibit 1, between those same parties by extending the promises
and mutual agreements of each and every paragraph and subparagraph, except for Paragraph 3 and its subparts, of that Separation Agreement.
1. Consideration and Severance Benefits. Provided that Executive affirms that he has and continues to fully comply with the Separation
Agreement including all Post-Termination Obligations, as defined in the Separation Agreement, by executing this Supplement, the Company agrees to amend
Executive’s Severance Benefits and provide Consideration in exchange for acknowledgment and agreement to the General Release in Paragraph 8 of the
Separation Agreement, the Section 1542 Waiver in Paragraph 9 of the Separation Agreement and specifically, the Age Discrimination Employment Act
(“ADEA”) release included in this Supplement. Executive’s Severance Package shall be revised to the following:
A. The Company will pay Executive a lump sum of $81,000 (equal to three months’ of Executive’s Base Salary at the time of separation),
less applicable withholdings and deductions (“Consideration”). This Consideration will be paid to Executive within 10 days after the Effective Date (as
defined below). The Company will no longer subject Executive’s Severance to be reduced by all amounts (whether direct or indirect salary, compensation or
otherwise) earned at his new employment. Any other payments including Severance as defined in the Separation Agreement will cease immediately, and
Executive agrees that in exchange for the Consideration provided, he will no longer be entitled to such Severance.
B. The Company shall reimburse Executive the premiums paid to maintain his Consolidated Omnibus Budget Reconciliation Act (“COBRA”)
coverage so long as he (i) timely elected to continue coverage under the Company’s group health plan and coverage under the applicable provisions of COBRA;
(ii) remains eligible for these benefits under COBRA; and (iii) does not become eligible for health coverage through another employer, through no later than
March 1, 2014.
C. Executive agrees and acknowledges that this Consideration represents a benefit to which he is not otherwise entitled.