w*ssxt:$}s s8 _w3$, T &mlxs This X{er**raltdufi of i-}nderstanding (&{CIt:), *ffectivs as cf the last date of si.gnature belcw, is by and betw**n tt:e *oard *f T::"rst*es of the Cdifomia Stat* Uiliversity (C$U) and Lonaine B. Hoffinan o?&:ties". {}{af*nau}, herein*fter joi:rtly r*f*xed to as li:e Hoffins& eurreirt}y sorves as the Vice President aitd eirief Financiai Offie*r at eafifcmia State iJ*iversity fhie* {ehieo State} and has }:etrd that p*siticr sine* April ?S0S. ilhico $tate ncui desir*s t* lsansiticn Hoffrnfin to *ther duties" Th* Farties wish tc avoid a:iy disputes relat*d to lioffi::a*'s traasilicn a*d t* avoid th* expense, ineonveniense and uneertainty of fulure pr*e*edings. Acecrdingly, th* parties agre* te the fullowing: 1. An an:roanoe$ent of Hcf&nsr:'s d*partwe:vill bs **mmalricaled t* &e CIampus comn:unity nc *arlier than July 5, 201S. Th* *nnouncen:*nt is attaehed hereto as Stshib$"*, a:rd has been agreed t* by both pa:ti*s ts this rvt$U. Z. Hof,{ina*' s last physi*al Sa3r ** e a:np*s will b* J*re 3 0, ?* I $. Beginai*g .luly I , 201 6 and endi*g $epter:rber 30,20tr6, Hcffixa* u,iltr bo *n vaeaticn arld shall use vacatior balances she has acenred, *uring this peri*d, h*r pay a*d benefits will reruain *ncl:angerl *om tirose afher ourrent position. During this period, Ho{*nan is *tigibie to use ally acor$l:ulated sick leave for qualiffing sick leave eveiits that may oe.sr:r smd Hcf&*a:r r*m*i:rs eligible for benefits and cther terms a*d eonditi*ns of emplcyr::snt a$ outllned i* th* Ma*agement Ferscnnei Fla*. During this period H*ffinan's title wiii be $pe*i;rl Assistant. 3" Beginnixg O*t*!:er 1, 201$, $ierff;:':crr shall b* cn adn:ir:iskative ieave, tc *ontinue for f*ur months, tlxougk J*naury 31, z$i 7" Shculd Hofkaan o*min *urpl*yrnont outside the CSU during this periad, $offin*n shatrl be paid a lu:r:p sum pay:rlert equal to the amaunt she would eara durlag the r*mainde: ef her a&ainiskative leave. 4. Begin*ing Sebruary L, 2$tr7, H*ffn:an will immediately traxsitioa &om ker crment p*sitiori as V?_qr:d CFCI *f Ciriei: Stat* te becon:e the Speeiai Assistant t* the Executive Vice Chancellor atld *hief Fixancial Of,{i**r, in tbe CSU's fh**qeell*r's Offi*e. $ubjeet to &* provisions of this paragraph, h*r ctruties ar* aaticipated t* inciude providi-:rg finaneial *xd/or capital planning s*wiees t* samFuses thr*ugh*ut the C$u syst*m, and ctker speeial pro.jeets eocsistent rvith her baekgr*und a:i*I expcriemce, as assigxed by tke *xeeutiv* Vi*s {}Tancellor axd Chief Financial *ff?e*r. trn this r*le, H*f{}xan shali rep*rt eiire*tly ta Brad W*11s, Assoelate Yics Chaneellcr for Admixistrati*n and Si*.anee. Nctwiths{a*ding tha &r*going, Ho$iaan will nct br required to be rcsident at a*ry spe*ifie l*cati*n" Keffm*rl's a*sig*xent as Specixl Assis{atrt sbaLl last for eight *:,antf:s aad slx*ll er:d c*r Sept*arb*r 3{i, ?*i7; in the ev*nt {kat H*fflaar sseures *lternative erapl*3:rnent bsf,cre *r duing her p*siti*:: as Sp**ia^l Assistax.t, her retirem.ent witrl be advaneed tc the i.asl d*te }{offman r*srai*s *n:pk:yed by CSU, rvith nc aclditional *bligati*n owed to Ho&nan by &e eSU, exceptir:g fcr aecrued vaealisn tiure. Fxg* tr *f$ 5. Any business related travel dr:ring tkis pericd nrust be pre-apprsv*d by Brad Wells, if Hoffn:an int*nds to seek rei:r:barsem*nt lar the sa:ne. S. *wi::g ttre entire period from July 1, 2015 lkcxgh S*ptemb*r 30, 20tr?, Hof&nan will remain etigible f*r bei:sfits a{td tth*r tenns aad eauditi*$s cf emplcyrnent as outlined in the Managex*nt Fersonnel Fla:r. 7. C*sts assoeiated:vith pay and he*efits dwing the entir* pcriod October 1,2015 tkough Septe*rber 30,2*i?, sl:all be the respcnsibility cf Chisa State" 8. Hof*aan :a'i11 voluntarily resign or rctire lr*r* all employment ;vith the CSU effective S*ptember 30, ?{}17. H*ffixan hereby delivers to the Ciraxcellar's Of{ice a signed lstter of resignation or :*tirem*nt, effective Septernb*r 30, ?017, E copy of which is attached heret* as Ea&bilB., and *s af Septcmber 3Q, 2017, eSU vritl ae*ept Hof,fixan's v*luntary r*signati*n. Hoffman aeknowledges a*d agrees &at, *ne* ace*pted by CSU, her resignaticn is net appealable and, provided CS{-} eomplies irrith all of its *bligatio*s herein, she hereby waivss any right she may have usder law or regutr*lion t$ seek ree*nsideration of her resignation, as provided in Title 5, sccti*n 42728, *f the Califbmia. C*de *f H"egulaiions. S" ?'h* terms *f this MOU may be medified hy mutuai writtea agreernent of &* Farties should H*ff,man, during the perieds outlicied ab*ve, *btain other fulllim* empioyment at the CSU. H*f&rian waiv*s any snd all rights to obje*t under Title 5, Sectisn 42723(d) af the Califon:ia Code of ]t"egulaticns to the transition of her responsibilities set forth herein, afid she agrees that she }:as no entitlcn:*nt t* axy rl:o*ies *nd*l ttrat reguiatrioa due to this trar:sition cth.sr than th*se set &rth l'rcrein" Herffr:lan understar:ds ar:d aeknowledges th*t the eonsideratio* provided for in &is MSU is in fuil and ecrnpl*te settlement cf all clairns of any kind, wh*tirer known *r u*knownl actual cr p*tectiai, whieh H*fftnan may have against lhe C$U. 10. In eonsidsration of th.e abcve, 1i, in further **nsideratlon of the above, Hof*:ran releases and forever discharges CSU, and eaeh of, its agents, afisrneys, current a:rd former *mployees, officers, Sustees, ar:xi1iary organizations, lnsurers, and all persons *.eting by, thrcugh, under or in concert with any of them {collectively referred tc as "CSU Rel*ased Farties"), fr*m all cornptraints, aeticns, eauses af actious, in law or equity, suits, **rri.nistrative eiai:as, i:rciuding any claims under the Age Diseriminaticn in Smplo3a:lext Act and the Slder Worker Bcne{it Protecti*n Aet, attcrneys' fees, debts, Iiens, denun