December 28, 2017
To All NWTM Employees
Re: Separation of Employment
We would like to state at the outset that we appreciate your contributions to Northwest Territorial
Mint, LLC ("NWTM"). As we discussed during our Company meeting in Dayton on December
21, 2017, NWTM was unable to remain a going concern unless the potential buyer materialized.
As of today's, date, the potential buyer has not been able to fund the purchase. In the Company
meeting we discussed the inability to fund payroll after December 31, 2017. Thus, effective
December 31, 2017, we were forced to close the Company due to the lack of adequate cash to
remain a going concern.
You will receive all wages owed to you through December 31, 2017 consistent with NWTM's
normal payroll procedures. Additionally, if you have incurred any necessary business expenses
in the performance of your duties prior to your termination date you should promptly submit any
such receipts for reimbursement pursuant to NWTM's expense reimbursement policy. Except as
stated in this letter, or as required by law, all compensation and benefits will cease on your
separation date. If you are being retained as part of the skeleton crew you will be paid in the
You and any dependents who are covered under the Company's group health plans will be
covered under the health, dental, and vision insurance policies through December 31, 2017,
except as otherwise provided in the plans' governing documents. You will receive a separate
letter regarding health plan continuation under the federal law known as "COBRA" (the
Consolidated Omnibus Budget Reconciliation Act). You may exercise any rights you may have
to elect to continue coverage at your expense under the group health plan for yourself and any
dependents who were covered under the plan as of your separation date.
The Company or any applicable insurance providers will provide separate information regarding
individual coverage rights and, if applicable, any continued coverage under all [group term life
insurance, long-term disability, short-term disability, accidental death and dismemberment
insurance, and other welfare benefits.
Unemployment insurance benefits may also be available to you through the Nevada
Department of Employment, Training and Rehabilitation, Employment Security Division.
Additional information can be found online at http://ui.nv.govicss.html.
Please direct any employment verification and reference inquiries to the Company's Controller,
Annette Trunkett. The Company will respond by providing only your dates of employment, last
position held with the Company, final salary, and reason for separation which was the closing of
the company. Additional information will be provided only with advance written consent from
You are also reminded that you have certain statutory and contractual obligations to NWTM to
refrain from disclosing confidential and trade secret information belonging to NWTM. These
obligations derive from NWTM's workplace policies and procedures, applicable state and
federal law, and, if applicable, a restrictive covenant agreement that some employees executed.
It is important that you return all property and confidential information belonging to NWTM on
your last day of work, or make arrangements to return all such property as soon as possible.
This includes all Company documents, records, files, computer-recorded information, equipment
and other tangible property, credit cards, entry cards, keys, and identification, that you may
possess. Otherwise, NWTM may take further action to recoup any replacement costs and/or
seek the return of Company property through appropriate legal recourse. Your manager must
approve anything other than your personal belongings taken from NWTM's premises.
If you have moved and have not yet updated your address with HR please ensure that you
provide Annette Trumpet with your forwarding address.
We wish you the best in your future endeavors and appreciate your continued cooperation
during this transition. If you have questions, please contact Paul Wagner.