EX-10.3
from S-1/A
8 pages
I. Purposes of the Plan. Cariloha, Inc., a Delaware Corporation (The “Company”), Establishes This Change in Control Severance Plan (The “Plan”) to Provide Severance Benefits to Certain Key Executives and Other Employees in the Event of a Termination of Employment in Connection With a Change in Control (As Defined Below) in Return for a Waiver and Release of All Employment-Related Claims Against the Company. the Purposes of This Plan Include to Encourage Continued Service of the Plan’s Participants to the Company, to Alleviate Some of the Financial Uncertainty Such Individuals May Otherwise Have in Circumstances Surrounding a Change in Control, and to Finally Resolve Potential Employment Claims With Participants Receiving Benefits Under the Plan. II. Definitions. as Used in the Plan, the Following Terms Shall Have the Meanings Set Forth Below: A. “Administrator” Means the Board of Directors of the Company or Any Committee Duly Authorized by the Board of Directors of the Company to Administer the Plan Or, Subject to Section IX of the Plan, Any Delegee Thereof. B. “Affiliate” Means Any Entity That Directly or Indirectly Controls, Is Controlled by or Is Under Common Control With the Company. C. “Board” Means the Board of Directors of Cariloha, Inc
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