Performance evaluation. The agreement should provide for an annual evaluation and the evaluation procedure used. (For more details, see the forum`s statement on professional practice entitled “Evaluating the Performance of the Chair of the Association`s Board of Directors.”) In the event that your employment relationship ends as a result of your death or permanent disability (defined below), you (or your estate) are entitled to the following: this correspondence agreement (the “Contract”) sets out the terms and conditions of your employment with Kenneth Cole Productions, Inc. (the “Company”). The offer contained in this letter depends on the full implementation by both parties and the satisfactory conclusion of a substantive examination. The terms and conditions of employment are set out in the Company153s Personnel Manual, which may be amended from time to time. Compensation and other special insurance. The agreement should reflect the association`s agreement to exempt the CEO from all liability and expenses arising from the performance of its obligations, with the exception of those involving gross negligence or wilful misconduct under the right of control, and should indicate the period during which the CEO is compensated. Continuation of bi-monthly payments of your basic salary, net of statutory deductions, at the rate applicable for one (1) year from the date of termination of your employment contract (the “departure period”).
In the event that you receive another job (or self-employed activity) during the departure period, these bi-monthly payments will be subject to compensation and/or reimbursement for each salary or other cash remuneration you receive during the relevant payment period. You agree that you are required not to participate in competitions as defined in paragraph 9, but you are not required to seek other employment during the departure period. To retain your right to receive and withhold payments in accordance with this paragraph, you must immediately inform the company as soon as you obtain alternative employment or become self-employed. Your group health insurance and life insurance, as described in paragraphs 3(a) and (d), will be covered for the duration of the severance pay (subject to your permanent contributions) or until you are entitled to coverage due to your new employment or self-employment, whichever happens first. . . .