EX-10.1
PACS Group, Inc.
TRANSITION AND RELEASE AGREEMENT
This Transition and Release Agreement (the “Agreement”) is made and entered into by and among John Mitchell (“Employee”), PACS Group, Inc. (“PubCo”) and Providence Administrative Consulting Services, Inc. (together with PubCo, the “Company”). This Agreement shall be effective on the date on which Employee executes this Agreement (the “Effective Date”). The purpose of this Agreement is to provide separation pay to ease Employee’s transition from the Company in connection with Employee’s retirement, to provide for the transition of Executive’s role with the Company from that of Chief Legal Officer to that of a non-employee consultant to the Company, effective as of the Separation Date (as defined below), and to settle and resolve any and all disputes and controversies of any nature existing between Employee and the Company, including, but not limited to, any claims arising out of Employee’s employment with, and separation from, the Company.
1.Separation of Employment.
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