Separation Agreement and Release for Jamie M. Grooms
Regeneration Technologies, Inc.
June 17, 2002
SEPARATION AGREEMENT AND RELEASE
Effective Date of Agreement: April 22, 2002 - Revised from May 9, 2002 Agreement
This Separation Agreement and Release (“Agreement”) is entered into JAMIE M. GROOMS (referred to herein as
“Employee”) and Regeneration Technologies, Inc . (referred to herein as “the Company”). Once signed, this Agreement
becomes effective on Monday, April 22, 2002.
1. Employee’s employment with the Company is hereby terminated effective May 22, 2002. The Employee is relieved
of all duties and responsibilities related to his current position effective Monday, April 22, 2002. This includes employee’s
formal resignation as a member of the Board of Directors of the Company and its various subsidiaries, as well as from any
officer positions the Employee may have held with those entities.
2. Employee’s separation from employment with the Company will be reflected as a mutually agreed upon termination.
3. Pursuant to the Employment Agreement entered into by Employee and the Company on February 12, 1998, and
modified on November 19, 1998, the Company agrees to pay Employee twenty-four (24) months of his current base salary,
less legal withholdings, as separation pay. (Employee’s current base annual salary is $300,000). This separation pay will be
paid in fifty-two (52) installments, of $11,538.46, and be paid on regular bi-weekly pay periods. The Company’s checks for
the Employee’s separation pay will be mailed to an address designated by the employee in writing, or be direct deposited
pursuant to the Employee’s written request.
4. In addition, in light of the Employee’s knowledge concerning the Company’s activities, the Company has
requested, and the Employee has agreed, to be available at mutually convenient times to provide consulting services as
requested, at least a minimum of two (2) full days per month. The Company and the Employee agree that