• | Base pay for days worked or approved time off for pay period beginning 09/27/2015 through your separation date of 10/02/2015. This payment will be made on 10/09/2015. |
• | Any earned and unused PTO time (9.17 days). This will be paid by separate check due to the taxation rate per IRS Regulations and will be paid on 10/09/15. |
• | Your benefit coverage will terminate at 12:00 midnight on your last day of employment (technically 10/03/15). Shortly, you will receive information from PayFlex regarding the continuation of certain benefits through COBRA. If you have questions, the contact number for PayFlex is (877) 327-2772. |
• | Equity |
• | 401(K) |
◦ | Accounts under $1,000 are cashed out if not rolled over to another plan. |
◦ | Accounts between $1,000 and $5,000 are rolled over to a Wells Fargo IRA if they are not rolled over to another plan. |
◦ | Accounts over $5,000 can remain with the Westell 401(k) Plan |
◦ | To request a distribution of your 401(k) plan, please contact Wells Fargo at (866) 665-1282. |
• | Post Departure Reporting Obligations and Transaction Restrictions After Ceasing to be an Officer or Director of the Company |
• | Confidential Information, Invention Assignment, and Non-Solicitation Agreement for Employee |
• | Stock Purchase Agreement Among Westell, Inc., Cellular Specialties Inc., Sellers’ Representative, and the Shareholders of Cellular Specialties, Inc. |