Customer Support It Coordinator
Resume:
Sherman Hill
Laguna NIguel, California 92677
Dear Sherman:
Yourmanagementhasrecentlyconcludedananalysisoftheircurrentoperationsandtheorganizationalstructure needed to support their future business goals.Unfortunately,any serious restructuring effort requires management to make many decisions about thecareersofouremployees.Aftermuchthoughtandplanning, they have decideduponmarketrealignmentsandotherorganizationchanges.Unfortunately,yourpositionwill be impacted and your employment will end effective April 2, 2024. In exchange for executing a Severance Agreement and General Release,Konica Minoltahasofferedyouthe following:
(a)REASONFORSEPARATION:InvoluntarySeparationasaresultofyourterminationduetothe restructuring effective April 2, 2024.
(b)SEVERANCE:Three (3)weeks of base salary.If you are rehired by the company before all payments are made,then your severance payment will be reduced to cover onlythoseweeks that you were not working.
Note:Separation pay of eight (8) weeks or lesswill be paid in a single lump sum.
(c)CONTINUATIONOFBENEFITS:Allofyourpresentlyelectedbenefits,exceptforSTD,LTDand FlexibleSpendingAccounts,willbecontinuedthroughtheendofApril.Ifyoutimelyandproperly elect to continue your Medical,Vision,Dentaland/orEAPcoveragepastAprilthroughCOBRA, youwillbeexpectedtopaythemonthlyemployeecostforthiscoverageforuptoone(1)months
(through5/31/2024)ofcoverageshouldyouneedit.Coveragebeyondone(1)monthswillbeat the full COBRA rate.
You will receive an initial COBRA Continuation Coverage Election Notice and enrollment instructions from our COBRA vendor,"bswift"which reflects the full monthlyCOBRApremium. COBRA coverage must be elected online or via phone through bswift within 60 days of the termination date of coverage.Once youcompleteyourCOBRAenrollmentwithbswift,theywill generate a payment invoice and you will then have 45 days to make your initial premium payment.
Upon Konica Minolta’s receipt of your signed Severance Agreement and the expiration of the Revocation Period,Konica Minolta will notify bswift of the company subsidy,provided thatyou have not revoked your acceptance of this Severance Agreement as permitted during the Revocation Period.You will then receive a revised invoice from bswift reflecting the company subsidy amount.Please note that your COBRA coverage will notgointoeffectuntilyouhave enrolledonlineorviaphonethroughbswift andtheyhavereceivedyourinitialpremiumpayment. If you elect toexpeditetheprocessandpaythefullinitialbill,bswiftwillapplytheoverpayment towards your next month’s premium.
(d)OUTPLACEMENT SERVICES:Outplacement services will be provided to you by Lee Hecht Harrison,Inc.,a global firm that specializes in career development.Theywillprovideyouwith career transition services that include careerconsulting,jobconnectionsandresearchtoassist you in finding appropriate new employment as quickly as possible.A representative from Lee Hecht Harrison, Inc. will contact you to provide additional details.
(e)RELEASEOFCLAIMS:Inexchangeforthebenefitssetforthabove,KonicaMinoltawillrequire a Release of any and all claims against Konica Minolta. WerecommendthatyoutakethisletterandtheenclosedSeveranceAgreementandGeneralReleasewithyou andconsiderfullyyouroptions.Youmay,ofcourse,seeklegalcounselbeforecomingtoadecision.Youwillbe given45daystoreviewandconsiderthisoffer.Therefore,wewillrequirethatyounotifyus,inwriting,ofyour decision no later than 4:00 PM on May 17,2024.Withinseven(7)daysofyourexecutionoftheSeverance Agreement and General Release, you may revoke this decision by written notice to Konica Minolta. Special Notes:
1.You will be paid any accrued and unused Vacation Time,regardless of whether you execute the Severance Agreement and General Release.
2.If you are eligible for payment ofcommissionsand/orbonusespursuanttoKMBS’sDirectChannel Compensation Policies and Operating Procedures,or for a discretionary quarterly bonus,you will remain entitled to payment of commissions and/or bonuses earned and payment of discretionary bonuses authorized and issued by KMBS pursuant to that plan.Payment of commissions and/or bonuses will be made in accordance with those plans. 3.If you &/oraSpousecoveredbyaKMBSmedicaloptionareeitherMedicareeligibleorcoveredby Medicare (Part A or Part A &B)youmaywanttocontactyourlocalSocialSecurityAdministration office to discuss your eligibility for COBRA and obtain information about how COBRA &Medicare interact if COBRA is available to you.
4.If you are a participant in the 401(k)Plan and have a loan(s)on which you arecurrentlymaking payments,youwillcontinuetomakepaymentsviapayrolldeductionduringtheperiodforwhichyou arereceivingseverancepaymentsunlessyouindicatebelowthatyoudonotwishtocontinuemaking payments in thatmanner.PleasecontactEmpowerat800-345-2345withanyquestionsconcerning your 401(k).
Pleasesignandreturntheextracopyofthislettertoyourmanager,indicatingyourreceiptofthisletterandthe enclosed Severance Agreement and GeneralRelease.ShouldyoudecidetoaccepttheCompany’soffer,you mustreturntheentireenclosedSeveranceAgreementandGeneralReleasewithyouroriginalsignaturenolater than 5/17/24.Please initial each page and return the entire signed agreement to Konica Minolta Business Solutions – Human Resources,100 Williams Drive,Ramsey,NJ 07446,email to: ***********@****.*************.** or fax to 201-***-****.You should be aware therewillbenoseverance benefit associated with your separation from the Company if you choose not to execute the Severance Agreement and General Release.
Very truly yours,
KONICA MINOLTABUSINESS SOLUTIONS U.S.A., INC.
by:
Stacey Lucariello
Director, HR Business Partner
I have read, understood and acknowledge receipt of the above. Sherman Hill(Signature)(Date)
Employee’s Telephone Number for Lee Hecht Harrison (outplacement): Idonotwishtocontinuemy401(k)loanpaymentsduringtheperiodforwhichIamreceivingseverance payments.
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