EXECUTIVE SEPARATION agreement AND RELEASE
THIS EXECUTIVE SEPARATION AGREEMENT AND RELEASE (the “Agreement”) by and between CECO Environmental Corp. (the “Company”) and Ramesh Nuggihalli (the “Executive”) as of August 21, 2023.
WHEREAS, the Company has decided to terminate the Executive’s employment as the Company’s Chief Operating Officer, and the Company and the Executive have mutually agreed to the following satisfactory severance arrangements.
NOW, THEREFORE, in consideration of this mutual Agreement, the Company and the Executive hereby agree as follows:
THE COMPANY AND THE EXECUTIVE ACKNOWLEDGE THAT (A) EACH HAS CAREFULLY READ THIS AGREEMENT, (B) EACH UNDERSTANDS ITS TERMS, (C) ALL UNDERSTANDINGS AND AGREEMENTS BETWEEN THE COMPANY AND THE EXECUTIVE RELATING TO THE SUBJECTS COVERED IN THE AGREEMENT ARE CONTAINED IN IT, AND (D) EACH HAS ENTERED INTO THIS AGREEMENT VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES OR REPRESENTATIONS BY THE OTHER, OTHER THAN THOSE CONTAINED IN THIS AGREEMENT ITSELF.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement.
Ramesh Nuggihalli
/s/ Ramesh Nuggihalli Signature of Executive
8/22/2023 Date |
| CECO Environmental Corp.
By /s/ Todd Gleason Todd Gleason Chief Executive Officer
8/21/2023 Date |
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OMITTED SCHEDULE
EXHIBIT A: Accelerated RSUs