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Exhibit 10.10
CHARLES RIVER LABORATORIES
Severance Agreement
This will set forth our revised agreement regarding your severance.
1. You will receive one-year of severance pay in exchange for your
agreement not to compete with CRL during the one-year severance period. You
will receive this severance pay even if you find employment during this period,
so long as the employment is not with a competitor.
2. If at the end of a year you have not found full-time employment, then
CRL will, at its choosing, either release you from the non-compete or continue
your severance for up to an additional year until you find non-competing
employment.
3. "Competitor" for this purpose means lab animal breeders and ascites
producers.
4. This severance arrangement will apply if you are terminated by CRL for
any reason other than for "cause". "Cause" will be limited to the commission of
a serious crime, fraud, dishonesty, willful misconduct or total disregard for
your assigned duties.
5. The outstanding balance of your one-year severance will be payable in
a lump-sum to your spouse, child or other designated family member in the event
you die during the initial year.
6. Your CRL disability coverage will continue so long as the severance is
still in effect.
7. CRL's contributions to your ESLIRP will continue so long as the
severance is in effect.
8. You will be eligible for EICP for the year in which your termination
occurs, on at least a pro rata allocation basis.
If we agree, please sign below, and this will modify the CRL Corporate
Officer Separation Plan as it applies to you.
/s/ Real H. Renaud /s/ James C. Foster
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Real H. Renaud James C. Foster
Vice President, Worldwide President and Chief Operating
Production Officer
Dated: January 7, 1992 Dated: January 20, 1992
