Mr. August is a party to an employment contract with the company on June 25, 2014 as amended on January 1, 2018 and again on April 1, 2019 (the “August Employment Contract”). As part of its termination, the company and Mr. August entered into a separation and release agreement of August 24, 2020 (the “separation agreement”). In accordance with the August employment contract, Mr. August receives, in accordance with the separation agreement, benefits that are terminated without cause under the August employment contract, including: (i) The continuation of the payment of his basic salary for 18 months after the termination date; (ii) payment of part of its annual premium until 2020; (iii) maintaining COBRA coverage for 18 months after the termination date; and (iv) the immediate collection of time-based free movement bonuses that would have been paid within 12 months of the termination date, with a non-RSU in April 2019. The above summaries of the main provisions of the Swad Amendment, the Wegner Contract and the Separation Agreement are governed by the full provisions of the agreements, copies of which are presented in Appendix 10.1, 10.2 and 10.3 and are included as a reference in this contract. A copy of the press release on the above points is attached to Appendix 99.1 and is listed as a reference. CONSIDERING that, after the separation of his employment, the executive would receive, in certain circumstances, severance pay determined after the separation of his employment, if they arrange a general dismissal in a form satisfactory to the company; arbitration procedures; current legislation and the location of the event. This agreement and all proposed transactions are governed by the laws of the State of South Carolina, are interpreted and applied accordingly.
The parties agree that any litigation, controversies or claims arising from this Agreement or a violation of this Agreement or a violation of this Agreement will be submitted and tried in South Carolina by binding arbitration. The arbitration procedure is managed exclusively by the American Arbitration Association and is enforced by a neutral arbitrator, who is executed with the rules, rules and requirements of the arbitration, including discovery, which are accessible www.adr.org, as well as all requirements of state law. The parties agree to play a mediation role only on an individual basis, and that this agreement does not authorize class arbitration or claims made as an applicant or class member in a collective or representative arbitration proceeding. The Arbitral Tribunal cannot consolidate more than one person and cannot otherwise preside over any form of representative or class procedure. Any arbitral award is final and binding and can be registered as a judgment in any competent court. In the event that the prohibition of class arbitration is deemed invalid or unenforceable, the other parts of the arbitration agreement remain in force. Covenant Don`t compete. The partner agrees and accepts that, during the duration of his employment and for a period of one (1) year after the end of the association`s maintenance with Benefitfocus (by one of the parties and regardless of the reason for termination), the partner does not occupy a position in all or part of the restricted area (as defined below). , with any competing company (as defined above), whether as an employee, advise or any other manner in which the partner will have functions, or provide or are expected to perform or are expected to perform services for such a competing undertaking, i.e.
the position of the partner or the tasks or services actually performed by the Benefitfocus Property Association during the twelve (12) months immediately preceding the termination of the associated employment at Benefitfocus , or in which the partner uses or may reasonably disclose confidential information or owners of Benefitfocus in order to provide or attempt to offer these competing companies a competitive advantage over the business.