Dennis L. Kogod and Davita Inc (NYSE:DVA) entered into a separation agreement (the “Agreement”) in connection with Mr. Kogod’s termination of employment with the Company, effective November 30, 2016. The Agreement provides for the end of Mr. Kogod’s employment and for his resignation from other non-employment roles with the Company and its subsidiaries, his consulting services to the Company for three years pursuant to a separate consulting agreement (the “Consulting Agreement”), and a release of the Company and certain affiliates from claims, in return for which the Company agreed to pay him $1,500,000.
Under the Consulting Agreement Mr. Kogod will (i) provide consulting services to the Company from December 1, 2016 until November 30, 2019, (ii) be subject to covenants not to compete and not to solicit employees of the Company, and (iii) provide a general release of claims for the period of time of the Consulting Agreement, for which the Company will pay Mr. Kogod $100,000 per month for the term of the Consulting Agreement, as well as payments of $1,800,000 in January 2017 and $100,000 at the conclusion of the Consulting Agreement.
The foregoing summaries of the Agreement and the Consulting Agreement do not purport to be complete descriptions and are qualified in their entirety by reference to the terms and conditions of the actual agreements, which will be filed as exhibits to the Company’s annual report on Form 10-K for the year ending December 31, 2016.
