Supercuts 2012 Annual Report Download - page 170

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1)
Severance pay in the gross amount of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00), representing
12 months of Employee’s base compensation, less statutory payroll deductions and other legally required
withholdings; no deductions or withholdings will be made for contributions to employment plans such as 401(k) or
any employee stock purchase plan. Regis shall issue an IRS Form W-2 for the full amount of this payment.
2)
One payment in the gross amount of Thirty Thousand Two Hundred Five and 63/100 Dollars ($30,205.63)
representing the cost of COBRA payments for medical, dental and life insurance for a period of 18 months. This
benefit is taxable and will be grossed up for the related taxes. Regis shall issue an IRS Form W-2 for the full
amount of this payment.
3)
Any officer bonus earned in FY12, prorated for a period of 7 months. Payment shall be made at the same time
bonus payments are customarily made to officers. Payment shall be subject to all statutory deductions and other
legally required withholdings. Regis shall issue an IRS Form W-2 for the full amount of this payment.
4)
One payment in the gross amount of Thirty-One Thousand Eight Hundred Eighty and 00/100 Dollars, less statutory
payroll deductions and other legally required withholdings, representing Employee’s Officer perquisites account for
12 months reduced by the value of Employee’s automobile lease from January 19, 2012 to November 30, 2012.
This benefit is taxable and will be grossed up for the related taxes. Regis shall issue an IRS Form W-2 for the full
amount of this payment.
5)
Continued use of Employee’s leased vehicle through lease end, November 30, 2012. This benefit, has a value of
Eleven Thousand Five Hundred Ninety and 00/100 Dollars ($11,590.00) is taxable and will be grossed up for the
related taxes. Regis shall issue an IRS Form W-2 for the full amount of this payment.
6)
One payment in the gross amount of Seven Thousand and 00/100 ($7,000.00) representing one year of executive
medical coverage. This benefit is taxable and will be grossed up for the related taxes. Regis shall issue an IRS
Form W-2 for the full amount of this payment.
7)
One payment in the gross amount of Twenty-Thousand and 00/100 Dollars ($20,000.00) to be used at employee’s
discretion for outplacement services. This amount shall be subject to statutory payroll deductions and other legally
required withholdings. Regis shall issue an IRS Form W-2 for the full amount of this payment.
8)
One payment in the gross amount of Six Hundred and 00/100 ($600.00) to be used at employee’s discretion for
professional fees for review of the agreement and release. This amount shall be subject to statutory payroll
deductions and other legally required withholdings. Regis shall issue an IRS Form W-2 for the full amount of this
payment.
2