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AGREEMENT AND MUTUAL RELEASE ‘THIS AGREEMENT AND MUTUAL RELEASE (The “Agreement”) is entered into this WE day of Reece 2016 by and between: Party: DR. ROBERT G. FRANK, (“Dr. Frank’). Party2: The BOARD OF REGENTS OF THE UNIVERSITY OF NEW MEXICO, for itself and its public operations, known as the University of New Mexico or ‘any component thereof, including its current and former members, officers, ‘employees, and agents (individually and collectively, “Board of Regents”) Collectively: Dr. Frank and Board of Regents may collectively be refered to as (“the Parties"), RECITALS A. On or about December 7, 2016, Dr. Frank and Board of Regents conferred regarding the administrative appointment of Dr. Frank as President of the University of New Mexico: and the circumstances resulting ffom the pending expiration of his appointment as President viathe employment agreement executed on or around June 1, 2012. 'B. The parties wish to avoid the uncertainties and expenses inherent in the operation of the University of New Mexico during the period nearing the expiration of a presidential term, 1s well as the possibility, uncertainty, and cost of litigation that is likely to result inthe absence of a mutual agreement related to Dr. Frank's employment. In that regard, the Parties desire to enter into this Agreement in order to provide fer certain consideration ‘and payment in full settlement and discharge of all claims which have been or might have: been brought related to Dr. Frank’s employment and/or the expiration of his contract as President, whether via litigation or other administrative process, upon the terms and conditions se forth below. AGREEMENT “The Parties agree as follows: 1. Expiration of Appointment as President ‘Dr. Frank will continue to serve as President of the University of New Mexico through, ‘December 31, 2016. A new Interim President will be named and will assume the role and. responsibilities of President beginning January 1, 2017. 2. Paid Sabbatioal Page of 4 Dr. Frank will begin a ive-month sabbatical on January 1, 2017 and the sabbatical will conclude ‘on May 31, 2017. During this petiod of sabbatical, Dr. Frank will continue to receive his current rate of pay’ and all benefits commensurate with Dr. Frank's Employment Agreement entered by ‘nd between the Parties as of June 1,2012 (“Employment Agreement”) . s A Beginning June 1, 2017, Dr. Frank will begin his tenured professorship ata starting snnual salary ‘of One Hundred Ninet® Thousand Dollars and NO/100 ($190,000.00) as Director ef the Center for Innovation in Heals and Education. Beginning June 1, 2017, Dr. Frank's employment will bbe governed by the University of New Mexico's Faculty Handbook as applicable for a tenured professor. 4, University Howe Dr. Frank will vacate University House on or before March 1, 2017. The housing benefits described in Section 10 ofthe Employment Agreement will cease on March 1, 2017 5 oat ‘The Board of Regents will cease any ongoing investigations as of the date this Agreement is entered into. By the signature of the President of the Board of Regents on this Agreement, the Board of Regents affimas that it has no plan or intention to pursue termination for cause or any ‘other discipline against Dr. Frank. 6. Exit Agreement Dr. Frank and Board of Regents expressly acknowledge and agree that the Exit Agreement ‘between Dr. Frank and Board of Regents dated September 23, 2016 is rescinded ini entirety a5 (of the date of entry into this Agreement. 7. Release and Discharge In consideration of the foregoing, Dr. Frank and Board of Regents hereby completely release, and forever discharge ane another from any and all past or present elaims, demands, actions, causes of action, rights, damages, costs, expenses, University faculty or administrative remedies, and/or compensation cf any nature whatsoever and not fully described in this Agreement, ‘whether based on tort, civil rights, contract, or any other theory of legal recovery, which the Parties now have, or which may hereafter accrue or otherwise be acquired, on accouat of, or may in any way grow out of Dr. Frank’s employment as President of the University of New Mexico. Dr. Frank understands and agrees that the release and full discharge intended by this Agreement is applicable to Board of Regents as a body corporate and to each Regent in his or her individual capacity Page 20f4 ‘The Parties acknowledge and agree that this release is a general release. The Parties expressly ‘waive and assume the risk of any and all claims for damages which exist sof this date, but of ‘which the Paes do not know or suspect to exist, whether through ignorance, oversight, error, negligence, atherwise, and which, if known, would materially affect br. Frank's, Board of Regents’, or the Parties’ decision to enter into this Agreement. The Parts futher agree that numbered paragraphs 1 through 5 as specified herein constitute a complete compromise of ‘mates involving any disputed issues of law andor fact which may exist. 8. Payment ‘Any and all payments and/or compensation described in this Agreement will be paid cither in ‘accordance with the Employment Agreement or as salary compensation for a tenured professorship, as appropriate, with employee benefit withholding as elected and tax withholding 1s provided by law. 9. Attorney Fees Each Party hereto shall bear its attorney's fees and costs arising from the actions of its own ‘counsel in connection with ll work performed to effectuate and execute this Agreement. 10. Goveming Law ‘This Agreement shall be construed and interpreted in accordance with the laws of the State of New Mexico. 11, Entire Agreement and Successors in Interest ‘This Agreement contains the entire agreement between the Parties with regard to the matters set forth herein and shall be binding upon and inure to the benefit of the Dr. Frank’s executors, administrators, personal representatives, heirs, successors and assigns, and shall be binding upon ‘nd inure tothe benefit of the Board of Regents and the University of New Mexico, including its pst, present, and future rember. Kiel & Fm Fe > (On His Own Behalf ‘OnBehaf ofthe Board of Regents ‘of the University of New Mexico Page 30f4 AKNOWLEDGEMENTS. ‘STATE OF NEW MEXICO ) dae ‘COUNTY OF BERNALILLO) ‘SUBSCRIBED, SWORN TO AND ACKNOWLEDGED before me by DR. ROBERT G. FRANK, Ph.D this SYS day of Yaseen’ _, 2016. Lene. “NOTARY PUBLIC ~ Seno, PR RE ‘STATE OF NEW MEXICO COUNTY OF BERNALILLO This instrument was acknowledged before me on this] aay of. Dec bag. 2016 by ROBERT M, DOUGHTY as PRESIDENT of the [BOARD OF REGENTS OF THE UNIVERSITY OF NEW MEXICO on behalf of said entity. NOTARY PUBLIC MyCommisin apis: \]94 [goa (Deeds Page 4 of 4

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