<SEC-DOCUMENT>0001140361-20-019845.txt : 20200908
<SEC-HEADER>0001140361-20-019845.hdr.sgml : 20200908
<ACCEPTANCE-DATETIME>20200908073539
ACCESSION NUMBER:		0001140361-20-019845
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20200904
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200908
DATE AS OF CHANGE:		20200908

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REGIS CORP
		CENTRAL INDEX KEY:			0000716643
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PERSONAL SERVICES [7200]
		IRS NUMBER:				410749934
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12725
		FILM NUMBER:		201162961

	BUSINESS ADDRESS:	
		STREET 1:		3701 WAYZATA BLVD
		STREET 2:		SUITE 500
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416
		BUSINESS PHONE:		9529477777

	MAIL ADDRESS:	
		STREET 1:		3701 WAYZATA BLVD
		STREET 2:		SUITE 500
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416
</SEC-HEADER>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">
      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" /><span style="font-size: 14pt;">UNITED








        STATES</span></div>

    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div><br />
    </div>

    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>

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    </div>

    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_d55880b8ff364ea49c0d67313b4567aa" contextRef="c20200904to20200904">8-K</ix:nonNumeric></div>

    <div><br />
    </div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">CURRENT REPORT</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Pursuant to section 13 or 15(d) of the</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Securities Exchange Act of 1934</div>

    <div><br />
    </div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Date of Report (Date of earliest event reported): <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_3a3300c67cb84fd581610c10b9d4287c" contextRef="c20200904to20200904" format="ixt:datemonthdayyearen">September 4, 2020</ix:nonNumeric></div>

    <div><br />
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;"><span style="-sec-ix-hidden:Fact_b83cdbfa8c944eb782d08cad3c8a7a20">REGIS CORPORATION</span><br />
    </div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Exact name of registrant as specified in its charter)</div>

    <div><br />
    </div>

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    <td style="width: 0.64%; vertical-align: bottom;">&#160;</td>

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    <td style="width: 0.64%; vertical-align: bottom;">&#160;</td>

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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" id="Fact_8472c443aeef40cf92e6a0064f75bce7" contextRef="c20200904to20200904">41-0749934</ix:nonNumeric><br />
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    <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(State or other jurisdiction of incorporation)</div>
          </td>

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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Commission File Number)</div>
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    <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(IRS Employer Identification No)</div>
          </td>

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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityAddressAddressLine1" id="Fact_c7b1f7af6f3d45d9a459e9ac6a664628" contextRef="c20200904to20200904">3701 Wayzata Boulevard</ix:nonNumeric><br />
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Address of principal executive offices and zip code)</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">(<ix:nonNumeric name="dei:CityAreaCode" id="Fact_441bfc6f05464150b83e10039a0d3722" contextRef="c20200904to20200904">952</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_81ac4a8e7f9f4beb8f1617b424ef2ca2" contextRef="c20200904to20200904">947-7777</ix:nonNumeric></div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Registrant&#8217;s telephone number, including area code)</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">(Not applicable)</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Former name or former address, if changed from last report.)</div>

    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions:</div>

    <div><br />
    </div>

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              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></div>
            </td>

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      <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z816ca148ff3849b0890f38184efaf1d5" class="DSPFListTable">


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              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Segoe UI Symbol', sans-serif;"><ix:nonNumeric name="dei:SolicitingMaterial" id="Fact_8577574589ce4ba8903ba9820c63da34" contextRef="c20200904to20200904" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
                </span></div>
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              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></div>
            </td>

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              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Segoe UI Symbol', sans-serif;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_c0f663415a2146a3a69ccd5ecc25b3fb" contextRef="c20200904to20200904" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
                </span></div>
            </td>

    <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></div>
            </td>

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              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Segoe UI Symbol', sans-serif;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_892cf529079d47cd93f040c69c279937" contextRef="c20200904to20200904" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
                </span></div>
            </td>

    <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left; margin-left: 0.25pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></div>
            </td>

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    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>

    <div><br />
    </div>

    <table cellspacing="0" cellpadding="0" border="0" id="z8d880ddfcd7c42869987047d54b3f986" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">


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    <td style="width: 33%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Title of each class</div>
          </td>

    <td style="width: 34%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Trading Symbol(s)</div>
          </td>

    <td style="width: 33%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Name of each exchange on which registered</div>
          </td>

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    <td style="width: 33%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_5e6c55be5b4b41b7a2c87d235e0e13c3" contextRef="c20200904to20200904">Common Stock, par value $0.05 per share</ix:nonNumeric><br />
            </div>
          </td>

    <td style="width: 34%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_f6de4e92be944bc0b678288666e1bbb6" contextRef="c20200904to20200904">RGS</ix:nonNumeric><br />
            </div>
          </td>

    <td style="width: 33%; vertical-align: bottom;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_9e63eda55d284ab1ab07d89c3bbc9c5b" contextRef="c20200904to20200904" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br />
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    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or
      Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_a82ae624d81c4892a5cfa623c73c0790" contextRef="c20200904to20200904" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></div>

    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
      revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.</div>

    <div>
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" /> </div>

    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="page-break-after:always;">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div>
      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS
        OF CERTAIN OFFICERS.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On September 8, 2020, Regis Corporation (the &#8220;Company&#8221;) announced that Felipe A. Athayde will succeed Hugh E. Sawyer as the Company&#8217;s Chief Executive
        Officer and President and will be appointed as a director on the Company&#8217;s Board of Directors (the &#8220;Board&#8221;), effective on October 5, 2020 (the &#8220;Start Date&#8221;).&#160; Mr. Sawyer has informed the Company that he will retire as Chief Executive Officer and
        President of the Company and resign as a member and Chairman of the Board effective immediately prior to such date (the &#8220;Departure Date&#8221;).</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. Athayde, 41, joins the Company from Popeyes Louisiana Kitchen, owned by Restaurant Brands International, a multinational quick-service restaurant
        holding company, where he most recently served as President, Americas between March 2019 and September 2020. Mr. Athayde has held various positions with Restaurant Brands International between July 2011 and September 2020, including President,
        Latin America and Caribbean for Burger King, and President, US for Tim Hortons.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><span style="text-decoration: underline;">Letter Agreement with Mr. Athayde</span></div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On September 4, 2020, the Company entered into a letter agreement with Mr. Athayde (the &#8220;Athayde Agreement&#8221;), pursuant to which Mr. Athayde will receive a
        base salary of $700,000 per year, an annual target bonus opportunity equal to 125% of his annual base salary (up to a maximum payout of 225% of his annual base salary) and a sign-on bonus of $2,500,000 (which is subject to pro-rata repayment if Mr.
        Athayde&#8217;s employment is terminated under certain circumstances prior to the first anniversary of the Start Date).&#160; Mr. Athayde will also receive sign-on equity awards to be granted as of the Start Date as follows: (1) 1,100,000 options to purchase
        shares of the common stock of the Company, granted under the Company&#8217;s 2018 Long Term Incentive Plan, which are eligible to vest, as to the service requirement, on the fourth anniversary of the Start Date, subject to achievement, prior to the fifth
        anniversary of the Start Date, of a volume-weighted average closing price per share of the Company equal to or in excess of 150% of the closing price per share on the trading day immediately prior to the date of the announcement of Mr. Athayde's
        employment with the Company; and (2) 358,680 restricted stock units with a value equal to $2,500,000 (based on the closing price of a share on September 4, 2020), which are eligible to vest on the first anniversary of the Start Date based on Mr.
        Athayde&#8217;s continued service and options to purchase 358,680 shares of the Company&#8217;s common stock, which are eligible to vest on the fourth anniversary of the Start Date, each of which may be granted on the Start Date pursuant to the employment
        inducement exception of the NYSE rules. All of the stock options will have a per share exercise price equal to the closing price per share of the Company on the date of grant and will have a term of ten years. Mr. Athayde will also be reimbursed
        for certain relocation expenses, including for temporary housing for up to twelve (12) months following the Start Date, up to an aggregate amount of $150,000.</div>

      <div><br />
      </div>

    </div>

    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">2</span></div>

      <div style="page-break-after:always;">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

    </div>

    <div>
      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">If Mr. Athayde&#8217;s employment is terminated either by the Company without Cause or by Mr. Athayde for Good Reason, Mr. Athayde will be eligible for severance
        benefits under the Company&#8217;s Senior Executive Severance Policy.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The foregoing description is not a complete description of the Athayde Agreement and is qualified in its entirety by reference to the full text of the
        Athayde Agreement, a copy of which is attached hereto as Exhibit 10.1, which is incorporated herein by reference.</div>

      <div><br />
      </div>

      <div>
        <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In connection with the execution and entry into the Athayde Agreement, Mr. Athayde also executed a Non-Compete, Non-Disclosure, Non-Solicitation and
          Non-Hire Agreement, a&#160; copy of which is attached hereto as Exhibit 10.2, which is incorporated herein by reference.</div>

        <div><br />
        </div>

      </div>

      <div></div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><span style="text-decoration: underline;">Transition Agreement with Mr. Sawyer</span></div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On September 4, 2020, Mr. Sawyer and the Company entered into Transition Services and Release Agreement (the &#8220;Transition Agreement&#8221;).&#160; In connection with
        his departure, Mr. Sawyer will receive all wages Mr. Sawyer has earned through and including the Departure Date and three weeks of unused PTO benefits.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Pursuant to the terms of the Transition Agreement, during the period between the Departure Date and ending on the twelve month anniversary thereof (the
        &#8220;Consulting Term&#8221;), Mr. Sawyer will serve as an Executive Advisor to the Company.&#160; For his services as an Executive Advisor, Mr. Sawyer will be entitled to an annual consulting fee of $1,200,000. Mr. Sawyer will also receive reimbursement for the
        employer portion of COBRA premiums during the Consulting Term.&#160; Pursuant to the Transition Agreement, Mr. Sawyer agreed to extend the non-competition and non-solicitation restrictions under that certain Employment Agreement between Mr. Sawyer and
        the Company, dated April 17, 2017 (the &#8220;Employment Agreement&#8221;), through the period ending twenty-four months after the end of the Consulting Term.&#160; The Consulting Term may be terminated prior to the expiration of the twelve (12) month term upon Mr.
        Sawyer&#8217;s death or disability, by mutual agreement between the Company and Mr. Sawyer, and in the event of Mr. Sawyer&#8217;s breach of certain restrictive covenants in his Employment Agreement and the Transition Agreement.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The foregoing description is not a complete description of the Transition Agreement and is qualified in its entirety by reference to the full text of the
        Transition Agreement, a copy of which is attached hereto as Exhibit 10.3, which is incorporated herein by reference.</div>

      <div><br />
      </div>

      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A copy of the press release announcing the matters described in this Item 5.02 is attached herewith as Exhibit 99.1, and incorporated herein by reference.</div>

      <div><br />
      </div>

    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.</div>

    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(d) Exhibits.</div>

    <div><br />
    </div>

    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z1a2eb42b77d349299763e21c464673d7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">


  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit No.</div>
            </td>

    <td style="width: 90%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014959_ex10-1.htm">10.1</a></div>
            </td>

    <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Offer Letter, between Felipe A. Athayde and Regis Corporation, dated September 4, 2020.</div>
            </td>

  </tr>

  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014959_ex10-2.htm">10.2</a></div>
            </td>

    <td style="width: 90%; vertical-align: top;"> Non-Compete, Non-Disclosure, Non-Solicitation and Non-Hire Agreement, between Felipe A. Athayde and Regis Corporation, dated September 4, 2020. </td>

  </tr>

  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014959_ex10-3.htm">10.3</a></div>
            </td>

    <td style="width: 90%; vertical-align: top;"> Transition Services and Release Agreement, between Hugh E. Sawyer and Regis Corporation, dated September 4, 2020. </td>

  </tr>

  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014959_ex99-1.htm">99.1</a></div>
            </td>

    <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Regis Corporation News Release dated September 8, 2020.</div>
            </td>

  </tr>

  <tr>

    <td style="width: 10%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">104</div>
            </td>

    <td style="width: 90%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document).</div>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">3</span></div>

      <div style="page-break-after:always;">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

    </div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">SIGNATURE</div>

    <div><br />
    </div>

    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</div>

    <div><br />
    </div>

    <div><br />
    </div>

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  <tr>

    <td style="width: 47.89%; vertical-align: top;">&#160;</td>

    <td style="width: 1.59%; vertical-align: top;">&#160;</td>

    <td style="vertical-align: top;" colspan="2">
            <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Regis Corporation</div>
          </td>

  </tr>

  <tr>

    <td style="width: 47.89%; vertical-align: top;">&#160;</td>

    <td style="width: 1.59%; vertical-align: top;">&#160;</td>

    <td style="vertical-align: top;" colspan="2">&#160;</td>

  </tr>

  <tr>

    <td style="width: 47.89%; vertical-align: top;">&#160;</td>

    <td style="width: 1.59%; vertical-align: top;">&#160;</td>

    <td style="vertical-align: top;" colspan="2">&#160;</td>

  </tr>

  <tr>

    <td style="width: 47.89%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Dated: September 8, 2020</div>
          </td>

    <td style="width: 1.59%; vertical-align: top;">&#160;</td>

    <td style="width: 5%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">By:</div>
          </td>

    <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Amanda P. Rusin</td>

  </tr>

  <tr>

    <td style="width: 47.89%; vertical-align: top;">&#160;</td>

    <td style="width: 1.59%; vertical-align: top;">&#160;</td>

    <td style="width: 5%; vertical-align: top;">&#160;</td>

    <td style="width: 45%; vertical-align: top;">
            <div>Name: Amanda P. Rusin <br />
            </div>
          </td>

  </tr>

  <tr>

    <td style="width: 47.89%; vertical-align: top;" rowspan="1">&#160;</td>

    <td style="width: 1.59%; vertical-align: top;" rowspan="1">&#160;</td>

    <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>

    <td style="width: 45%; vertical-align: top;" rowspan="1">Title: SVP, General Counsel and Corporate Secretary</td>

  </tr>


</table>
    <div><br />
    </div>

  </div>

  <div style="text-align: center;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">4</span>
    <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; border: none; margin-left: auto; margin-right: auto;" /></div>

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<DESCRIPTION>EXHIBIT 10.1
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  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div>
    <div style="font-size: 10pt;">
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">[Company Letterhead]</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">September 4, 2020</div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. Felipe A. Athayde</div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5234 La Gorce Drive</div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Miami Beach, FL 33140</div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Dear Felipe:</div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">We are pleased to offer you employment with Regis Corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Company</u></font>&#8221;)




      as Chief Executive Officer and President. You will report directly to the Board of Directors of the Company. If you choose to accept this offer, your employment will commence as soon as reasonably practicable following the date hereof, but your
      employment will be required to commence no later than October 5, 2020 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Start Date</u></font>&#8221;).</div>
    <div><br>
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          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Duties/Location</u></font>. Commencing on the Start Date, you will
              have the duties, responsibilities, and authority customarily held by the chief executive officer of a publicly traded corporation. You shall devote your full working time to your duties hereunder; provided that you may (i) serve on civic or
              charitable boards or engage in charitable activities without remuneration therefor, (ii) serve on &#8220;for profit&#8221; boards, with the prior consent of the Board of Directors of the Company (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Board</u></font>&#8221;) and (iii) manage your personal investments (so long as such investment activities are of a passive nature), provided that such activities in subsections (i), (ii) and (iii) do not, individually
              or in the aggregate, (A) conflict materially with the performance of your duties under this letter agreement, (B) conflict with the your fiduciary duties to the Company, or (C) result in a breach of the restrictive covenants to which you are
              bound. Your principal place of employment will be in the Minneapolis, Minnesota metropolitan area and you shall relocate to such area no later than the first anniversary of the Start Date. You understand and agree that you may be required to
              travel from time to time as necessary to perform your duties for the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za2a0e3d4dee04f7b82b1d08befeb0d71" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Base Salary</u></font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;</font>You will be paid a base salary at an annual rate of $700,000 (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Base Salary</u></font>&#8221;), payable in
              accordance with the Company&#8217;s payroll practices for executives. Your Base Salary is subject to review by the Compensation Committee of the Board (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Committee</u></font>&#8221;)




              and may be increased but not decreased (other than as provided in the definition of Good Reason).</div>
          </td>
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    </table>
    <div><br>
    </div>
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        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Annual Bonus</u></font>. During the period of your employment, you
              shall be eligible for a cash bonus under the Regis Corporation Short Term Incentive Plan (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>STIP</u></font>&#8221;) for each fiscal year, with an annual target
              payout equal to 125% of your Base Salary and a maximum payout of 225% of your Base Salary. Your annual bonus for fiscal year 2021 shall be pro-rated based on the number of days you are employed by the Company for such fiscal year. Payment of
              any earned annual bonus shall be made in accordance with the terms and conditions of the STIP (and the Company&#8217;s Senior Executive Severance Policy, if applicable). You will be eligible to participate in the Regis Corporation Stock Purchase
              and Matching RSU Program in accordance with the terms and conditions of such program.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z83bf0b76845449b5a1144ffc8aa2dddf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Sign-On Bonus</u></font>. Within thirty (30) days following the Start
              Date, you shall receive a lump sum cash payment equal to $2,500,000. If you resign from the Company without Good Reason (as defined below) or your employment is terminated by the Company for Cause (as defined below), in each case, prior to
              the first (1st) anniversary of the Start Date, you shall repay to the Company within thirty (30) days following such resignation or termination, an amount equal to $2,500,000 multiplied by the fraction, the numerator of which is the number of
              days remaining until such first anniversary of the Start Date and the denominator of which is 365.</div>
          </td>
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            <tr>
              <td style="width: 33.33%;">
                <div>&#160;</div>
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              <td style="width: 33.33%; text-align: center;">[Company Letterhead]</td>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z1d0b0be4e46044a381d56bc13be9e24e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Equity Awards</u></font>. On the Start Date, you will be granted the
              equity awards described below. These awards will be subject to the Company&#8217;s 2018 Long Term Incentive Plan (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>LTIP</u></font>&#8221;) and the award agreements governing
              such awards, which will contain the terms below. In the event that any awards cannot be granted pursuant to the terms of the LTIP, such awards will be granted under the &#8220;inducement grant&#8221; exception under the rules of the NYSE, on terms and
              conditions substantially comparable to the terms of the LTIP.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;"><u>Performance-Based Option Grant</u></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You will be granted non-qualified stock options to purchase 1,100,000 shares of common stock of the Company (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Shares</u></font>&#8221;) (which amount is based on a Black-Scholes or similar option pricing model, as determined by the Committee, as of the date hereof) (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Performance Options</u></font>&#8221;). The exercise price of the Performance Options will be the closing price of a Share on the grant date of the Performance Options. The
      Performance Options will be subject to both a service-based vesting condition and performance-based vesting condition. The service-based vesting condition will be satisfied on the fourth (4th) anniversary of the Start Date, subject to your continued
      employment on such date. The performance-based vesting condition will be satisfied on the date the volume-weighted average closing price per Share equals or exceeds 150% of the closing price per Share on the trading day immediately preceding the
      announcement of your employment with the Company, subject to your continued employment on such date and provided that such date occurs prior to the fifth (5th) anniversary of the Start Date. If, after the fourth (4th) anniversary of the Start Date,
      your employment is terminated by the Company without Cause, you resign for Good Reason, or your employment is terminated as a result of your death or Disability (as defined in the LTIP), and the performance-based vesting condition has not been
      satisfied prior to such termination, the Performance Options shall remain outstanding and eligible to satisfy the performance-based vesting condition until the fifth (5th) anniversary of the Start Date. In the event your employment is terminated as a
      result of your death or Disability following the first (1st) anniversary of the Start Date, a pro-rated portion of the Performance Options, based on the number of days you are employed by the Company during the four-year service-vesting period, shall
      either (i) vest as of the date of such termination if the performance-based vesting condition was satisfied prior to the date of such termination or (ii) remain outstanding and eligible to satisfy the performance-based vesting condition for one (1)
      year following the date of such termination.</div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;"><u>Restricted Stock Unit Grant</u></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You will be granted restricted stock units with a grant date value, based on the closing price of a Share on the trading
      day immediately prior to the announcement of your employment with the Company, equal to $2,500,000 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Sign-On RSUs</u></font>&#8221;). The Sign-On RSUs will be eligible to
      vest on the first (1st) anniversary of the Start Date, subject to your continued employment on such date. If your employment is terminated by the Company without Cause, you resign for Good Reason or your employment terminates as a result of your
      death or Disability, in each case, prior to the first (1st) anniversary of the Start Date, the Sign-On RSUs shall fully vest as of the date of such termination. In the event that you resign without Good Reason prior to the first (1st) anniversary of
      the Start Date, a pro-rata portion of the Sign-On RSUs will vest as of the date of your termination of employment, based on the number of days you are employed by the Company during the vesting period.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z0f82a2b85ac3442f93ab5928f123f928">

            <tr>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
              <td style="width: 33.33%; text-align: center;">[Company Letterhead]</td>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;"><u>Matching Option Grant</u></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You will be granted non-qualified stock options to purchase a number of Shares equal to the number of Sign-On RSUs
      granted to you (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Matching Options</u></font>&#8221;). The exercise price of the Matching Options will be the closing price of a Share on the grant date of the Matching
      Options. The Matching Options will vest on the fourth (4th) anniversary of the Start Date, subject to your continued employment on such date. If prior to the fourth (4th) anniversary of the Start Date, you sell or transfer any of the Shares acquired
      in connection with the settlement of the Sign-On RSUs (other than in connection with the net settlement of the Sign-On RSUs), a corresponding number of Matching Options will be forfeited. If your employment terminates for any reason other than by the
      Company for Cause following the second (2nd) anniversary of the Start Date and prior to the fourth (4th) anniversary of the Start Date, a pro-rated number of Matching Options outstanding as of the date of such termination (after taking into account
      any Matching Options that have been forfeited) shall vest as of the date of such termination, based on the number of days employed by the Company during the vesting period.</div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The awards agreements documenting the Performance Options, Sign-On RSUs and Matching Options will be provided to you as promptly as
      practicable following the date of this letter agreement but no later than thirty (30) days following the date hereof.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z591ac2a13d414a8ebb90ee576d07024e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Relocation Benefits</u></font>. The Company will reimburse you for
              reasonable and documented out-of-pocket expenses incurred by you in connection with your relocation to the Minneapolis, Minnesota area, including for temporary housing in the Minneapolis, Minnesota area for up to the twelve (12) months
              following the Start Date, up to an aggregate amount of $150,000, and in accordance with the Company&#8217;s relocation policy. Such reimbursement shall be paid in calendar year 2021.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z66daf839c3464d8a8e24752058f09066" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Employee Benefits</u></font>. You will be eligible to participate in
              executive level perquisites and employee benefit plans and programs generally available to other senior executives of the Company, subject to the terms and conditions of such plans and programs. A summary of the Company&#8217;s current benefit
              plans and programs has been provided to you.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z7fd694482f014b65b89436ddd8690fbe" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Expense Reimbursement</u></font>. The Company will reimburse you for
              expenses incurred in connection with the performance of your duties for the Company in accordance with the Company&#8217;s Business Travel &amp; Entertainment Policy.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z17fec1947e434468a4c2b84ac2578c3d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Company Policies</u></font>. As an executive of the Company, you are
              required to comply with the Company&#8217;s standard policies and procedures including, the Code of Business Conduct and Ethics, and Policy on Insider Trading.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z102d70138fe5496aa717cd42b2a9a187" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Additional Agreements</u></font>. As a condition to your employment
              with the Company, you shall execute the Non-Compete, Non-Disclosure, Non-Solicitation and Non-Hire Agreement attached hereto as <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Exhibit B</u></font> and the
              Arbitration Agreement attached hereto as <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Exhibit C</u></font>.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf456772f879a492d94c1fbbbba3597f2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Termination of Employment</u></font>. You will be employed by the
              Company &#8220;at-will&#8221;, which means that you or the Company may terminate your employment at any time and for any reason or no reason; provided, however, that you are required to provide the Company with at least 90 days written notice of your
              resignation without Good Reason. Notwithstanding the foregoing, the Company may, in its sole and absolute discretion, by written notice to you, accelerate such date of termination.&#160; All base salary, benefits and other compensation will end
              upon the termination of your employment except as required by applicable law or as otherwise provided herein.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z0f82a2b85ac3442f93ab5928f123f928">

            <tr>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
              <td style="width: 33.33%; text-align: center;">[Company Letterhead]</td>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: italic; margin-left: 36pt;"><u>Participation in Senior Executive Severance Policy</u></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In the event of a termination of your employment by the Company without Cause (excluding as a result of your death or
      Disability) or by your resignation for Good Reason, you shall be entitled to participate in the Company&#8217;s Senior Executive Severance Policy and shall receive the following in accordance with such policy: (i) payment of all accrued but unpaid Base
      Salary, reimbursement for all unreimbursed business expenses through the date of termination and any vested benefits payable in accordance with the terms of the Company&#8217;s benefit plans and (ii) subject to your execution of a Separation and General
      Release Agreement substantially in the form attached to this Agreement as <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Exhibit A</u></font>, and the expiration of any applicable revocation period (without
      revocation) within sixty (60) days following your termination date, you shall be entitled to receive the following severance payments and benefits: (A) an amount equal to one (1) times your Base Salary as of the date of termination, payable in
      substantially equal installments in accordance with the Company&#8217;s normal payroll policies for twelve (12) months following the date of such termination, provided that, subject to Section 15, the first payment shall be paid on the first regularly
      scheduled payroll date following the sixtieth (60th) following your termination date and shall include all amounts due prior thereto, (B) an amount equal to the annual bonus you would have otherwise received for the fiscal year in which your
      termination date occurs had you remained employed through the payment date of annual bonuses for such year (but not in excess of your target annual bonus), multiplied by a fraction, the numerator of which is the number of days you were employed by
      the Company during the fiscal year in which the date of your termination occurs and the denominator of which is 365, payable at the same time as bonuses are paid to other senior executives of the Company under the then-applicable STIP for the fiscal
      year in which the date of termination occurs, (C) subject to your timely election under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>COBRA</u></font>&#8221;),




      the Company will pay the employer portion of your COBRA premiums for health, dental and vision insurance coverage under the Company&#8217;s group health, dental and vision insurance plans for a period of up to twelve (12) months, provided that such payment
      will cease if you become eligible to be covered under the health, dental and/or vision insurance policy of a new employer, or you cease to participate, for whatever reason, in the Company&#8217;s group insurance plan and (D) continuation of Group Executive
      Medical Expense Reimbursement Policy for twelve (12) months following such termination.</div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;"><u>Definitions</u></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">For purposes of this letter agreement, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Cause</u></font>&#8221;
      shall mean (i) your indictment for, conviction of, or a plea of guilty or no contest to, any indictable criminal offence or any other criminal offence involving fraud, misappropriation or moral turpitude, (ii) your continued failure (after specific
      written notice of any such failure) to perform your material duties hereunder or to following the lawful direction of the Board (for any reason other than illness or physical or mental incapacity) or your material breach of fiduciary duty, (iii) your
      theft, fraud, or material dishonesty with regard to the Company or any of its affiliates or in connection with your duties, (iv) your material violation of the Company&#8217;s code of conduct or similar written policies, including, without limitation, the
      Company&#8217;s sexual harassment policy and which is not cured (if curable) within thirty (30) days after written notice thereby by the Board to you, (v) your willful misconduct unrelated to the Company or any of its affiliates having, or likely to have,
      a material negative impact on the Company or any of its affiliates (economically or its reputation), (vi) an act of gross negligence or willful misconduct by you that relates to the affairs of the Company or any of its affiliates, or (vii) material
      breach by you of any provisions of this agreement which is not cured (if curable) within thirty (30) days after written notice thereby by the Board to you.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z0f82a2b85ac3442f93ab5928f123f928">

            <tr>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
              <td style="width: 33.33%; text-align: center;">[Company Letterhead]</td>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: left; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">For purposes of this letter agreement, &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Good Reason</u></font>&#8221;
      shall mean the occurrence of any of the following, without your express written consent: (a) any material diminution of your authority, duties or responsibilities; and (b) a material reduction by the Company of your Base Salary or target annual bonus
      percentage (other than (1) an across the board reduction of not more than 10% that applies to all other executives of the Company or (2) any temporary reduction of no more than 25% in response to the COVID-19 pandemic or other extraordinary event of
      similar market consequence that does not last longer than 12 months); provided, that no event described in clause (a) or (b) shall constitute Good Reason unless (i) you have given the Company written notice of the termination, setting forth the
      conduct of the Company that is alleged to constitute Good Reason, within sixty (60) days following the occurrence of such event, and (ii) you have provided the Company at least sixty (60) days following the date on which such notice is provided to
      cure such conduct and the Company has failed to do so.&#160; Failing such cure, a termination of employment by you for Good Reason shall be effective on the day following the expiration of such cure period.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc885b3a319be47c5ab3a090c34e82e04" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">12.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Acknowledgement</u></font>. You hereby represent and warrant to the
              Company that (i) the execution, delivery and performance of this letter agreement by you does not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which
              you are a party or by which you are bound, (ii) you are not a party to or bound by any employment agreement, non-compete agreement or confidentiality agreement with any other person or entity and (iii) upon the execution and delivery of this
              letter agreement by you and the Company, this letter agreement shall be the valid and binding obligation of you on and after the date hereof, enforceable in accordance with its terms.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zeb42a0b849654fff905dddc8993b31e3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">13.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Indemnification</u></font>. The Company shall indemnify you to the
              maximum extent permitted by applicable law and the Company&#8217;s Bylaws in respect of your services as an officer of the Company and its affiliates.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z24da6969cd0449398018093a2997a342" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">14.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Withholding</u></font>. The Company shall have the right to withhold
              from any amount payable hereunder any Federal, state and local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z8a97b5d53f6a4a38ae55552f81b5101b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">15.</td>
          <td style="width: auto; vertical-align: top; text-align: left;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Section 409A</u></font>.&#160; The payments and benefits under this letter
              agreement are intended to comply with or be exempt from Section 409A of Code, and the regulations and guidance promulgated thereunder (collectively &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Section 409A</u></font>&#8221;),




              whether pursuant to the short-term deferral exception or otherwise, and, accordingly, to the maximum extent permitted, this letter agreement shall be interpreted to be exempt from Section 409A.&#160; For purposes of Section 409A, your right to
              receive any installment payments pursuant to this letter agreement shall be treated as a right to receive a series of separate and distinct payments.&#160; Whenever a payment under this letter agreement specifies a payment period with reference to
              a number of days (e.g., &#8220;payment shall be made within thirty (30) days following the date of termination&#8221;), the actual date of payment within the specified period shall be within the sole discretion of the Company.&#160; A termination of
              employment shall not be deemed to have occurred for purposes of any provision of this letter agreement providing for the payment of any amounts or benefits considered &#8220;nonqualified deferred compensation&#8221; under Section 409A upon or following a
              termination of employment unless such termination is also a &#8220;separation from service&#8221; within the meaning of Section 409A.&#160; If you are deemed on the date of termination to be a &#8220;specified employee&#8221; within the meaning of that term under Section
              409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Section 409A payable on account of a &#8220;separation from service,&#8221; such payment or benefit shall be made
              or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such &#8220;separation from service,&#8221; and (ii) the date of your death (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Delay Period</u></font>&#8221;).&#160; Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this provision (whether they would have otherwise been payable in a single sum or in
              installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to you in a lump sum, and any remaining payments and benefits due under this Letter Agreement shall
              be paid or provided in accordance with the normal payment dates specified for them herein.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      <div style="width: 100%;" id="DSPFPageHeader">
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            <tr>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
              <td style="width: 33.33%; text-align: center;">[Company Letterhead]</td>
              <td style="width: 33.33%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">This offer of employment is contingent upon you complying with the Company&#8217;s hiring requirements including, but not limited to, consenting to
      and passing a criminal background check and providing sufficient documentation necessary to establish your identity and eligibility to work in the U.S.</div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">This letter agreement constitutes the entire agreement and understanding of the parties with respect to your employment and the subject
      matter herein and supersedes all prior agreements, arrangements and understandings, whether written or oral, between you and the Company. There are no restrictions, agreements, promises, warranties, covenants or undertakings between you and the
      Company with respect to the subject matter herein other than those expressly set forth herein. You acknowledge and agree that you are not relying on any representations or promises by any representative of the Company concerning the meaning of any
      aspect of this letter agreement.&#160; This letter agreement may not be altered or modified other than in a writing signed by you and an authorized representative of the Company. This letter agreement shall be binding upon, and inure to the benefit of,
      the parties hereto, any successors to or permitted assigns of the Company, and your heirs and the personal representatives of your estate.</div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">This letter agreement shall be governed by and construed in accordance with the laws of the State of Minnesota, without regard to the
      conflicts of law principles thereof.&#160; This letter agreement may be signed in counterparts, each of which, along with any facsimile or scanned email versions, will be deemed an original.</div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Please indicate your acceptance of the terms of this letter agreement by signing below and returning a fully executed copy to me.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z904df153493a4ca7a1d2b2497b98bc46">

          <tr>
            <td style="width: 60%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">Sincerely,</td>
          </tr>
          <tr>
            <td style="width: 60%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 60%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);"> /s/ Amanda P. Rusin </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 60%;">&#160;</td>
            <td rowspan="1" style="width: 40%;">Amanda P. Rusin</td>
          </tr>
          <tr>
            <td style="width: 60%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">Title: SVP, General Counsel and Corporate Secretary</td>
          </tr>
          <tr>
            <td style="width: 60%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">Date: September 4, 2020<br>
            </td>
          </tr>
          <tr>
            <td style="width: 60%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; margin-left: 288pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><br>
    </div>
    <div>
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          <tr>
            <td style="width: 30%;">Agreed and accepted:</td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%; border-bottom: 2px solid rgb(0, 0, 0);"> /s/ Felipe A. Athayde </td>
            <td style="width: 70%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%;">Felipe A. Athayde</td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%;">
              <div>&#160;</div>
            </td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30%;">Date: September 4, 2020</td>
            <td style="width: 70%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; margin-left: 288pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
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    </div>
    <div style="text-align: center;"> <font style="font-weight: bold;"><u>Exhibit A</u></font></div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>NOTE</u></font>: This Exhibit A may
        be revised to address legal developments, the adoption of policies by the Regis Corporation Board of Directors or non-substantive administrative changes that occur after this form of Separation and General Release Agreement was prepared.</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>GENERAL RELEASE</u></div>
      <div><br>
      </div>
      <div>
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              <td style="vertical-align: top; width: 54pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">TO:</font></div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Felipe A. Athayde</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zf2e6fb31214c4b5a88eec36763fb71e5" class="DSPFListTable">

            <tr style="vertical-align: top;">
              <td style="vertical-align: top; width: 54pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">FROM:</font></div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Regis Corporation</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
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            <tr style="vertical-align: top;">
              <td style="vertical-align: top; width: 54pt;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">DATE:</font></div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">___________, 20__</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Please read this document carefully.&#160; You are giving up certain legal claims that you might have against Regis Corporation by signing
        this Agreement.&#160; You are advised to consult an attorney before signing this Agreement.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This Separation and General Release Agreement (&#8220;Agreement&#8221;) is between Felipe A. Athayde (&#8220;you&#8221; or &#8220;your&#8221; or &#8220;Employee&#8221;) and Regis Corporation (&#8220;Regis&#8221;
        or &#8220;Company&#8221; or &#8220;Corporation&#8221;) collectively, the &#8220;parties&#8221;.&#160; This Agreement sets out the terms of your separation from Regis.&#160; The term &#8220;Regis&#8221; includes Regis Corporation, Regis Corp., Regis, Inc., and any and all subsidiaries, affiliates,
        predecessors, successors and/or assigns.&#160; Under this Agreement, Regis will provide you with certain benefits as set forth in the Letter Agreement made by and between Regis Corporation, a Minnesota corporation and Felipe A. Athayde as of September
        4, 2020 (the &#8220;Letter Agreement&#8221;).&#160; Such benefits will be provided in exchange for your Agreement to the terms set forth below including, but not limited to, waiving and releasing certain past or present legal claims you may have against Regis.&#160;
        Except as provided and/or modified herein, this Agreement incorporates all terms of the Letter Agreement, including any terms which may not be specifically referenced in this Agreement dated [Date].</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>TERMS OF AGREEMENT</u></div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z33e60df243244134a6d1f65836836a63" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Termination</u></font>.&#160; Regis has terminated your employment effective on [Date]
                (&#8220;Departure Date&#8221;).</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Payments Upon Termination</u></font>.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Whether or not you sign this Agreement, Regis will pay you:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z6d691ac505de414f9f29591c7fae5bbb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">All wages you have earned through and including the Departure Date; and</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Reimbursement for all necessary business expenses you have incurred through ___________________ if any, for which you seek reimbursement.&#160; Any such request for
                reimbursement must be submitted by ____________ to comply with Regis&#8217; policies regarding reimbursement requests and be directed to General Counsel - Regis Corp., 3701 Wayzata Boulevard, Suite 500, Minneapolis, MN 55416.&#160; Thereafter, you
                agree that you will be ineligible for further expense reimbursement from Regis, unless otherwise required by law.&#160; Upon submission of timely request for reimbursement, Regis will reimburse you for all necessary business expenses you
                incurred pursuant to the Company&#8217;s regular business practices.</div>
            </td>
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      <div><br>
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            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any medical expenses incurred under the ExecMed Program that are incurred on or before ____________________, which reimbursements will be made in the normal course
                upon timely presentation of claims;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z595243852cd1480d982ac087110a28dc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">All compensation accrued as of the date of your termination under each plan or program of the corporation in which you may be participating at the time of termination
                in accordance with the terms of such plan or program, including but not limited to the Executive Retirement Savings Plan and the Long-Term Incentive Plans and equity awards thereunder.&#160; This Agreement has no effect on such plans and the
                amount to which Employee is entitled under the foregoing is subject to each plan&#8217;s terms and conditions<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>and Employee is not releasing any rights he has to
                compensation under these plans.&#160; For sake of clarity &#8220;all compensation accrued as of the date of your termination under each plan or program of the corporation&#8221; will specifically include Employee&#8217;s contributions and all matching
                contributions made by Regis to the Executive Retirement Savings Plan.&#160; No deductions or withholdings will be made for contributions to employment plans such as 401(k) or any employee stock purchase plan.&#160; Regis will issue an IRS Form W-2
                for the full amount of this payment.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z01dc48749b9f409784c3579f41fec7e7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Equity Compensation in accordance with the plan documents.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z16d40d37e62549a9bbc5b52c34305c8b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Severance Payment.</u></font>&#160; Subject to Employee signing and not revoking this
                Agreement, and the Employee remaining in strict compliance with the terms of this Agreement and any other written agreements between Regis and Employee, you will receive the severance payments and benefits continuation described in Section
                11 of the Letter Agreement.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z52136764289d482cb379559f9497600b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Non-disparagement Restrictions</u></font>.&#160; To the fullest extent permitted by law,
                you also agree not to make or endorse any disparaging or negative remarks or statements (whether oral, written, or otherwise) concerning Regis or its predecessors, successors, and/or assigns, as well as past and present officers, directors,
                agents, and/or employees.&#160; To the fullest extent permitted by law, the Company shall instruct its current officers and directors not to make or endorse any disparaging or negative remarks or statements (whether oral, written, or otherwise)
                about you.&#160; Nothing in this paragraph shall prevent Regis or you from providing truthful testimony and/or information in response to a lawful subpoena, court order or governmental inquiry. Furthermore, nothing in this paragraph shall be
                applied to limit or interfere with your right to engage in the &#8220;Protected Activities&#8221; as defined in Section 13 below.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z2d7d0e1270cb43d1b1fbb98e3c4e21c0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Non-Disclosure of Confidential or Proprietary Information; Compliance With
                    Non-Competition and Non-Solicitation Restrictions</u></font>.&#160; Employee hereby acknowledges each of Employee&#8217;s obligations under that certain Non-Compete, Non-Disclosure, Non-Solicitation and Non-Hire Agreement dated [DATE] (&#8220;RCA&#8221;),
                reaffirms such obligations, and agrees that Employee shall continue to be bound each of these obligations after the Departure Date without any modification.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Return of Corporate Property</u></font>.&#160; By signing below, you represent and warrant
                that all Regis property has been returned to Regis, and that you have not retained any copies, electronic or otherwise, of any Regis property.&#160; Notwithstanding this paragraph of this Agreement, you may keep documents pertaining to your
                compensation and/or benefits.</div>
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      </table>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">6.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Litigation and Other Legal Matters</u></font>.&#160; Employee agrees to be reasonably
                available upon reasonable notice from Regis, with or without subpoena, to be interviewed, review documents or things, give depositions, testify, or engage in other reasonable activities, including in connection with any pending and future
                litigation, investigations, arbitrations, and/or other fact-finding or adjudicative proceedings, public or private, internal or external to Regis or any of the other Released Parties, with respect to matters of which Employee has knowledge
                or should have knowledge.&#160; Regis will cooperate with Employee&#8217;s reasonable scheduling needs; will reimburse Employee for Employee&#8217;s reasonable expenses incurred in connection with Employee&#8217;s obligations under this paragraph; and will
                negotiate in good faith and agree upon an appropriate per diem or hourly rate for any cooperation and/or assistance provided by Employee after the Departure Date.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>References</u></font>.&#160; You agree that you will refer all reference checks regarding
                your employment with Regis to [Name] at [Number].&#160; For all reference checks that are referred to such person, references will be limited to confirmation of your dates of employment and last position held.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za19b4812e6b542b1adee63a53ddb8f0d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">8.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>General Release</u></font>.</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z40a3e150ad19476f8b2c50872873c763" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In exchange for the benefits promised you in this Agreement, you agree to irrevocably and unconditionally release and discharge Regis, its predecessors, successors,
                and assigns, as well as past and present officers, directors, employees, and agents (collectively, the &#8220;Released Parties&#8221;), from any and all claims, liabilities, or promises, whether known or unknown, arising out of or relating to your
                employment with Regis through the date you sign this Agreement.&#160; You waive these claims on behalf of yourself and your heirs, assigns, and anyone making a claim through you.&#160; The claims waived and discharged include, but are not limited to,
                claims under or relating to:</div>
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      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z7072ce8c176e49a294ce4018d9716d2d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Title VII of the Civil Rights Act of 1964;</div>
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      </table>
      <table cellspacing="0" cellpadding="0" id="zb59deb8442654beb93f859e8c1d64b61" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Sections 1981 through 1988 of Title 42 of the United Sates Code;</div>
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      <table cellspacing="0" cellpadding="0" id="zeca2d12dbbb44670aac7d6f1d058e738" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Civil Rights Act of 1991;</div>
            </td>
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      <table cellspacing="0" cellpadding="0" id="zeda7107eb37148ddb373563239fa02b2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Employee Retirement Income Security Act of 1974 (except for any vested benefits under any tax qualified benefit plan);</div>
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      </table>
      <table cellspacing="0" cellpadding="0" id="zdceecb6efbde42e3aca308f4643050e1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Age Discrimination in Employment Act of 1967 (the &#8220;ADEA&#8221;);</div>
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      </table>
      <table cellspacing="0" cellpadding="0" id="zc545fbcd933c47eca837af9022cfdbb1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Rehabilitation Act of 1973;</div>
            </td>
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      </table>
      <table cellspacing="0" cellpadding="0" id="zff014c60c69e487ba2e34e20d2ce307b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Immigration Reform and Control Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zad263a94469f41e7b195e4176ebf6821" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Americans with Disabilities Act of 1990;</div>
            </td>
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      </table>
      <table cellspacing="0" cellpadding="0" id="za8994057b32545c180cf468783656703" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Americans with Disabilities Amendments Act of 2008;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z991bedf9e62249f0afeadcf17523ab75" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Fair Credit Reporting Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zb0a2df61b92b4855bd892a096a37e433" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Sarbanes-Oxley Act of 2002, to the extent permitted by law;</div>
            </td>
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      </table>
      <div><br>
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        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Occupational Safety and Health Act;</div>
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          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zd076b1fb8b0b472d8874d612e127ec68" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Family and Medical Leave Act of 1993;</div>
            </td>
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      </table>
      <table cellspacing="0" cellpadding="0" id="z78a9c18cad9a496a9080b79ee2864cb5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Equal Pay Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="ze183a2ddc3b443a7bdb7ff21a16424c3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Genetic Information Nondiscrimination Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zc97b0014a41c43ee82b04676b7b1b470" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Worker Adjustment and Retraining Notification Act;</div>
            </td>
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      </table>
      <table cellspacing="0" cellpadding="0" id="z411c838070bd4530aba8d866b9059181" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Human Rights Act, Minn. Stat. &#167; 363A.01, et seq.;</div>
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      </table>
      <table cellspacing="0" cellpadding="0" id="zbec57cad091044f7a7f651ead5f63ded" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Human Rights Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z4ff33eb9c6e8458b817195fd69af36f4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Whistleblower Protection Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zf565d8017c5d46ddae3327d3127d7a76" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Statutory Provisions regarding Retaliation for Filing a Workers&#8217; Compensation Claim;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z7b51892504df45ca9722dc0d4cc692b3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Parental Leave Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="za4b12621c4f8427a9f06e2ffd8c21fa4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Age Discrimination Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zb2ffe7a5f9984e5abf7108cfd0020f14" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Equal Pay For Equal Work Law;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z31bf078bd02c4377a20e3048aded48aa" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Fair Labor Standards Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zbaca0da3364e44f7ad3b7c261cf1b750" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Discrimination for Lawful Activities Law;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z22d9748c5fea4c5d8c587e5fe3c15d19" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Wage-Hour and Wage-Payment Laws;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z8f11b57b05d44a1595674589dc66237f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Occupational Safety and Health Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z5e302c08d8c54999aff408d3017af4a2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Personnel Record Review Statute;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zd2e96ea342974502a763c3805dce889c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Laws enacted under the Minnesota Women&#8217;s Economic Security Act;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z39ed4b3fc49840818139f26114ce23fc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The non-discrimination and anti-retaliation provisions of the Minnesota State Workers&#8217; Compensation and/or Disability Benefits Laws;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zef5c323fb6c24164a3762e2917e045ca" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any other federal, state or local civil or human rights law or any other local, state or federal law, rule, regulation, code, guideline or ordinance, including but
                not limited to those relating to bias, whistleblower, discrimination, retaliation, compensation, employment or labor;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z1762691d0a514cb88ac7c582abd61d92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any public policy, contract (oral or written, express or implied), tort, or common law; or</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zf0c95eff32114f6eb7e8f2dc9fd87675" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any statute, common law, agreement or other basis for recovering any costs, fees, or other expenses, including attorneys&#8217; fees and/or costs.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This release does not include claims that cannot, by law, be waived, such as unemployment compensation, claims based upon noted
        benefits and/or claims for indemnification. This release does not modify or affect (a) your right to enforce the terms of this Agreement; (b) your right to receive an award from a &#8220;Government Agency&#8221; (as defined in Section 12 below) under its
        whistleblower program for reporting in good faith a possible violation of law to such Government Agency; (c) any vested rights and benefits that you may have under any applicable Company benefit or compensation plan; (d) any recovery to which you
        may be entitled pursuant to workers&#8217; compensation and unemployment insurance laws; (e) any rights under directors&#8217; and officers&#8217; liability insurance coverage or any right of indemnification under the Company&#8217;s organizational documents or otherwise;
        (f) your right to challenge the validity of this Agreement under the ADEA; (g) your right to payments or benefits described in Section 11 of the Letter Agreement, subject to and in accordance with the terms thereof; (h) your rights with respect to
        any equity awards granted to you by the Company; (i) any rights that arise after the date you executes this Agreement; or (j) any right where a waiver is expressly prohibited by law.</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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        <div style="width: 100%;" id="DSPFPageHeader"></div>
      </div>
      <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You understand and agree that, with the exception of your right to receive an award from a Government Agency under its whistleblower
        program for reporting in good faith a possible violation of law to such Government Agency, you are not entitled to receive any money or other relief in connection with the claims you are releasing in this Agreement, regardless of who initiated or
        filed the charge or other proceeding</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z29231d9dbbc34c5d9bf8e2bcab120ec7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">9.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Binding Nature of Agreement</u></font>.&#160; This Agreement is binding on the parties and
                their heirs, administrators, representatives, executors, successors, and assigns.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z6f487415f57643958ddd725d45c95ab6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">10.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Compliance with the Age Discrimination in Employment Act (&#8220;ADEA&#8221;) and Notice of Right
                    to Consider and Rescind Agreement</u></font>. You understand that this Agreement has to meet certain requirements to validly release any claims you might have under the Minnesota Human Rights Act (MHRA) and the ADEA (including under the
                Older Workers&#8217; Benefit Protection Act), and you represent that all such requirements have been satisfied, including that:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze20c84e86d6f435baa8fffd2510b50db" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Agreement is written in a manner that is understandable to you;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z7dc02ad5f5bf49988a2a3ced9ca5f0b6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You are specifically waiving ADEA rights;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zf293b994d84e46f8a2168af91eefc588" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You are not waiving ADEA rights arising after the date of your signing this Agreement;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze449caee3e384da59435ad39247a9e92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You are receiving valuable consideration in exchange for execution of this Agreement that you would not otherwise be entitled to receive;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zca32fa68b0774bf29dd5f2ff11f7331f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">e.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Regis is hereby, in writing, encouraging you to consult with an attorney before signing this Agreement; and</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z98bc448e43404d17b2c4a16ac092b64f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">f.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You received 21 days to consider this Agreement and at least 15 days to rescind.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za3c96882eda5434fa8f857e984d14779" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">11.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Notice of Right to Consider and Rescind Agreement</u></font>.&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>You have twenty-one (21) days to consider this Agreement and decide whether to sign it,</u></font>&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>however, you cannot sign this Agreement before&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u>.</font>&#160; Regis hereby advises Employee to consult with an attorney of his/her choice before signing this Agreement releasing any rights
                or claims that he believes she/he may have under the Age Discrimination in Employment Act, the Minnesota Human Rights Act (MHRA) or the Age Discrimination in Employment Act (&#8220;ADEA&#8221;).&#160; Once this Separation Agreement is executed, Employee may
                rescind this Separation Agreement within fifteen (15) calendar days to reinstate any claims under the ADEA.&#160; To be effective, any rescission within the relevant time period must be in writing and delivered to Regis, in care of General
                Counsel, 3701 Wayzata Boulevard, Suite 500, Minneapolis, MN 55416, by hand or by mail within the fifteen (15) day period.&#160; If delivered by mail, the rescission must be: (1) postmarked within the fifteen (15) day period; (2) properly
                addressed to Regis; and (3) sent by certified mail, return receipt requested.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze9b6e052c32941e48d65ee562288013d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">12.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>No Assignment</u></font>.&#160; Employee warrants that she/he has not assigned, transferred
                nor purported to assign or transfer any claim against Regis or the Released Parties, and that he will not assign or transfer nor purport to assign or transfer hereafter any claim against Regis or the Released Parties.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        <div style="width: 100%;" id="DSPFPageHeader"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze26e175d1eb1475bb2e70274d323eca8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">13.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Protected Activities</u></font>.&#160; You and the Company each acknowledge and agree that
                nothing in this Agreement shall be applied to limit or interfere with your right, without notice to or authorization of the Company, to communicate and cooperate in good faith with a Government Agency for the purpose of (i) reporting a
                possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Agency, including by providing documents or other
                information, or (iii) filing a charge or complaint with a Government Agency. For purposes of this Agreement, &#8220;Government Agency&#8221; means the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety
                and Health Administration, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or any other federal, state or local governmental agency or commission.&#160; You
                understands that you will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state, or local government official, or to an
                attorney, solely for the purpose of reporting or investigating a suspected violation of law, (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or (c) in court proceedings if you
                file a lawsuit for retaliation by an employer for reporting a suspected violation of law, or to your attorney in such lawsuit, provided that you must file any document containing the trade secret under seal, and you may not disclose the
                trade secret, except pursuant to court order.&#160; However, you are not authorized to make any disclosures as to which the Company may assert protection from disclosure under the attorney-client privilege or the attorney work product doctrine,
                without prior written consent of the Company&#8217;s General Counsel or another authorized officer designated by the Company.&#160; The disclosures and actions protected in this Section 12 are referred to herein as &#8220;Protected Activities.&#8221;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zf07b7899c970496f8e03574b238945a2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">14.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Severability</u></font>.&#160; The provisions of this Agreement are severable.&#160; If any
                provision (excluding the General Release above) is held to be invalid or unenforceable, it will not affect the validity or enforceability of any other provision.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb7f7e53ce4aa41bc863a5c1d028c79ad" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">15.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Entire Agreement</u></font>.&#160; This Agreement, Letter Agreement, ACA, and Arbitration
                Agreement between you and the Company dated [DATE] and [Insert relevant equity awards], Except to the extent that you have an arbitration agreement with Regis, set out the entire agreement between you and Regis and supersede any and all
                prior oral or written agreements or understandings between you and Regis concerning your termination of employment.&#160; You acknowledge you have not relied on any representations, promises, or agreements of any kind made to you in connection
                with your decision to accept this Agreement and General Release, except for those set forth in this Agreement and General Release.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z28c42998ce8d46019280ca807d6ed702" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">16.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Employee Affirmations</u></font>.&#160; You represent that you:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z46b24485c9044ccaa5b5d82dcfda44f9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">have not filed, caused to be filed, or presently are a party to any claim against Regis or any other Released Parties;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zbf4870639bfd411095434de721bdd282" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">with the exception of the compensation and benefits described in Paragraph &#8220;2.b&#8221; above, affirm that you have been paid all compensation, wages, bonuses, commissions,
                and/or benefits to which you may be entitled from Regis, and, if applicable, you have reported all of the hours you worked as of the date you sign this Agreement and General Release.&#160; You further affirm that Regis has granted you any leave
                to which you were entitled from Regis under the Family and Medical Leave Act or related state or local leave or disability accommodation laws;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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      </div>
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          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">affirm that you have no known workplace injuries or occupational diseases;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z81e7cbc15ac447d5baaa3d231c741940" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">affirm that you have not divulged any financial, proprietary or confidential information of Regis and will continue to maintain the confidentiality of such
                information consistent with Regis&#8217;s policies, your agreement(s) with Regis and/or any applicable common law, with the exception of any voluntary communication with the Securities and Exchange Commission;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z88b3e822de484c4bb1e2740c54ba7b61" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">e.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">affirm that you have not been retaliated against for reporting any allegations of wrongdoing by Regis, any of Regis&#8217;s officers or any other Released Parties,
                including any allegations of corporate fraud.&#160; Both Parties acknowledge that this Agreement and General Release does not limit either party&#8217;s right, where applicable, to file or to participate in an investigation proceeding of any federal,
                state or local governmental agency, including providing documents or other information.&#160; This Agreement does not limit your right to receive an award for information provided to any government agency;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za201cdfce2ba459dbb97eb6b864b1411" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">f.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">affirm that all of Regis&#8217;s decisions regarding your pay and benefits through your termination date were not discriminatory based on age, disability, race, color, sex,
                religion, national origin or any other classification protected by law.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zac0e607445514134ae7f7bf88482167a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">17.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Competence to Waive Claims</u></font>.&#160; You affirm that at the time you considered or
                signed this Agreement, you were not affected or impaired by illness, use of alcohol, drugs or other substances, or otherwise impaired.&#160; You further affirm that you are competent to execute this Agreement, and knowingly and voluntarily waive
                any and all claims you may have against Regis and as described in this Agreement.&#160; You certify that you are not a party to any bankruptcy, lien, creditor-debtor or any other action or proceeding which would impair your right or ability to
                waive all claims you may have against Regis or any other Released Parties.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z4ffc54bd08bf4ac9abe34c7ad70905c0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">18.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Effective Date of Agreement</u></font>.&#160; This Agreement will become effective on the
                sixteenth day after you sign it, provided that you have not rescinded the Agreement.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z4e205f9d901c4b1a81de32789fc6c43a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">19.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Valid Agreement</u></font>.&#160; As stated above, you agree that this Agreement and its
                releases fully comply with the ADEA. You also agree that this Agreement and its releases fully comply with the Minnesota Human Rights Act and all other laws, statutes, ordinances, regulations, and/or principles of common law governing
                releases.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z414b59bbdffd4fe9b9b1be7b03906f63" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">20.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>No Admission of Liability</u></font>.&#160; Regis denies any and all liability to you.&#160; You
                understand and agree that this Agreement is not an admission of wrongdoing or liability, including, but not limited to, any violation of any federal, state, and/or local law, statute, ordinance, contract, and/or principle of common law by
                Regis and/or any individuals and/or entities associated with Regis.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zf5d4a959cef044dea670121bbaa286c0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">21.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Attorneys&#8217; Fees</u></font>.&#160; You agree that you are responsible for your own
                attorneys&#8217; fees and costs, if any, incurred in any respect, including but not limited to in connection: with your employment with Regis; with the termination of your employment with Regis; and with negotiating and executing this Agreement.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">22.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Governing Law</u></font>.&#160; This Agreement will be construed and enforced in accordance
                with the laws of the State of Minnesota and the laws of the United States, where applicable.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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      <table cellspacing="0" cellpadding="0" id="z89a6edcb3d6246969d7c03b8524c5fea" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">23.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Enforcement of Agreement</u></font>.&#160; Any dispute concerning the interpretation and
                application of this Agreement will be settled by expedited arbitration in Minneapolis, MN.&#160; The arbitrator selected by the Parties will be a lawyer or former judge and will have at least ten years&#8217; legal experience with employment law.&#160; The
                decision of the arbitrator will be final.&#160; Any judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.&#160; The prevailing party will be entitled to recover costs and expenses, including
                reasonable attorneys&#8217; fees incurred.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zcf1f6be058d247029d67773474a2ce01" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">24.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Expiration of Offer and Effective Date of Agreement</u></font>.&#160; You understand that
                the offer contained in this Agreement will be considered withdrawn if you have not signed and returned to Regis the signed original of this Agreement on or before the conclusion of the 21-day consideration period.&#160; This Agreement becomes
                effective after you and Regis have signed the Agreement and the revocation period described above has expired, provided you have not revoked your acceptance of this Agreement during the revocation period.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">YOU ARE HEREBY ADVISED THAT YOU HAVE TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT, BUT YOU CANNOT SIGN THIS AGREEMENT BEFORE
        ______________________.&#160; YOU ARE ALSO HEREBY ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY OF YOUR CHOOSING PRIOR TO SIGNING THIS AGREEMENT.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">YOU AGREE THAT ANY MODIFICATIONS MADE TO THIS AGREEMENT, MATERIAL OR OTHERWISE, DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21)
        CALENDAR DAY CONSIDERATION PERIOD.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">YOU FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTER INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS YOU HAVE OR MIGHT HAVE
        AGAINST REGIS AND ANY OTHER RELEASED PARTIES AS OF THE DATE YOU SIGN THIS AGREEMENT.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">HAVING ELECTED TO EXECUTE THIS AGREEMENT, AND TO FULFILL THE PROMISES AND TO RECEIVE THE SUMS AND BENEFITS SET FORTH IN PARAGRAPH &#8220;2.b&#8221; ABOVE, YOU FREELY
        AND KNOWINGLY, AFTER DUE CONSIDERATION, ENTER INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS YOU HAVE OR MIGHT HAVE AGAINST REGIS AND ANY OTHER RELEASED PARTIES AS OF THE DATE YOU SIGN THIS AGREEMENT.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z124a9a8c9dbf47cdb9be21bea2ffe42a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" rowspan="1" colspan="2">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Employee</div>
            </td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Dated:</div>
            </td>
            <td style="vertical-align: top; width: 36%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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      </div>
      <!--PROfilePageNumberReset%Num%9%%%-->
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 60%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">REGIS CORPORATION:</div>
            </td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td nowrap="nowrap" style="vertical-align: top; width: 4%; padding-bottom: 2px;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By:</div>
            </td>
            <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top; width: 4%;" rowspan="1">&#160;</td>
            <td style="width: 36%; vertical-align: top;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td nowrap="nowrap" style="vertical-align: top; width: 4%; padding-bottom: 2px;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Its:</div>
            </td>
            <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top; width: 4%;" rowspan="1">&#160;</td>
            <td style="width: 36%; vertical-align: top;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 60%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td nowrap="nowrap" style="vertical-align: top; width: 4%; padding-bottom: 2px;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Date:</div>
            </td>
            <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" id="DSPFPageHeader"></div>
      </div>
      <div style="text-align: center;"> <font style="font-weight: bold;"><u>Exhibit B</u></font></div>
      <div> <br>
      </div>
      <div>
        <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">NON-COMPETE, NON-DISCLOSURE, NON-SOLICITATION AND NON-HIRE AGREEMENT</div>
        <div><br>
        </div>
        <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This is an Agreement between Felipe A. Athayde (&#8220;You&#8221;) and Regis Corporation (&#8220;Regis&#8221; or &#8220;Company&#8221;).&#160; The Agreement is effective on September 4, 2020
          (&#8220;Effective Date&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In consideration of the employment opportunity provided by Regis on or about September 4, 2020, you, intending to be legally bound, agree to the
          following:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z2199a77af9af4f32a06008a568b95f78" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Term of Agreement</u></font>. This Agreement is effective on the
                  Effective Date, and will remain in effect throughout your employment with Regis and for a period of twelve (12) months thereafter. The obligation not to disclose set forth in Section 3 will continue indefinitely.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z7679f31cda57498ea382ef84d51aa193" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Limitations of this Agreement</u></font>. This Agreement is <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">not </font>a contract of employment. Neither you nor Regis are obligated to any specific term of employment. This Agreement is limited to the
                  subject matter of covenants not to compete, hire, or solicit as described in this Agreement.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z900b910c8d984167bbf3fc56cacc3191" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Non-Disclosure of Trade Secrets and Confidential Information</u></font>.
                  You acknowledge that, in the performance of your duties, you have and will receive confidential and valuable business information, including but not limited to business and marketing plans, finances, trade practices, accounting methods,
                  methods of operation, business practices and methods, profit margins, costs, customer and commercial relationships, customer lists and information, company manuals, personnel records or any other data Regis considers to be confidential
                  information. You agree that, at any time during or after the term of your employment with Regis, you will not divulge, disclose, reveal or communicate to any business entity or other person (with the exception of the Securities and
                  Exchange Commission or the Company) such information or trade secrets or other valuable information you may obtain during your employment concerning any matters affecting or relating to Regis&#8217; business as long as such information is not
                  publicly available. You also agree that upon termination of employment with Regis or sooner (if it is required by Regis in writing), you will return to Regis all original and copies of any document or materials of any kind (including
                  those in electronic formats) acquired or coming to your knowledge and custody in connection with your employment with Regis, whether prepared by you, Regis, or others.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z260272511c0f4bbb80da558c52056d92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Covenant Not to Compete</u></font>. You agree that at no time
                  during the term of your employment with Regis will you engage in any business activity which is competitive with Regis nor work for any company which competes with Regis in the beauty salon industry. Nothing in this agreement prohibits
                  you from working for a current Regis franchisee or becoming a Regis franchisee as Regis does not consider its franchisees to be competitors.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageBreak" style="page-break-after:always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          <div style="width: 100%;" id="DSPFPageHeader"></div>
        </div>
        <!--PROfilePageNumberReset%Num%2%%%-->
        <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">For a period of twelve (12) months immediately following the termination of your employment (regardless of the reason for
          termination) you agree that within the United States, you will not, directly or indirectly, for you or on behalf of any other, as an individual on your account, or as an employee, agent or representative of any person, partnership, firm,
          corporation, or other entity or as a member of any partnership, or as an officer, employee or shareholder of any corporation, or otherwise:</div>
        <div><br>
        </div>
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            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">solicit, divert, do business with, or take away any of the customers or franchisees of Regis;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z8cc9eebb275549549a4c53810f3ff940" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">enter into endeavors that are competitive with the business or operations of Regis in the&#160; beauty industry;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zc4d000b6c7794cb382a7c2537daeacaf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">own an interest in, manage, operate, join, control, lend money or render financial or other assistance to or participate in or be connected with, as an officer ,
                  employee, director, partner, member, stockholder (except for passive investments of not more than a one percent (1%) interest in the securities of a publicly held corporation regularly traded on a national securities exchange or in an
                  over-the-counter securities market) consultant, independent contractor, or otherwise, any individual, partnership, firm, corporation or other business organization&#160; or entity that engages in a business which competes with the business or
                  operations of Regis in the beauty industry.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z4c45842633c841f38e7f9d94436a37f8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Non-solicitation and non-hire</u></font>. During the term of your
                  employment, and for a period of twelve (12) months immediately thereafter, you agree you will not, in any way, directly or indirectly, induce or attempt to induce any employee that reports to you, either directly or indirectly, to leave
                  Regis&#8217; employ, you will not otherwise interfere with or disrupt Regis&#8217; relationship with employees and you will not solicit, assist in the solicitation of, entice, take away, divert or employ any person employed by Regis. You also agree
                  that for a period of twelve (12) months after your employment, you will not hire anyone that, within the twelve (12) months prior to the termination of your employment, directly or indirectly, reported to you while you worked at Regis.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z6dc1be6423794f62906c31edbe5e5c73" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">6.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Injunctive Relief</u></font>. You hereby acknowledge: (1) that
                  Regis will suffer irreparable harm if you breach your obligations under this Agreement; and (2) that monetary damages will be inadequate to compensate Regis for such a breach. Therefore, if you breach any of such provisions, then Regis
                  shall be entitled to injunctive relief, in addition to any other remedies at law or equity, to enforce such provisions.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You further agree to waive any requirement for the securing or posting of any bond or other security in connection with the
          obtaining of any such injunctive or equitable relief. In the event of a breach of any of the provisions contained in this section, you and Regis intend that Regis will have the full benefits of the post-termination restrictions contained in
          Paragraphs 4 and 5 of this section and agree that in any action for specific performance of other equitable relief, Regis shall be entitled to an extension of time of the post-termination restrictions contained in Paragraphs 4 and 5 if necessary
          to achieve that result.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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        </div>
        <table cellspacing="0" cellpadding="0" id="z33f282f90644488eac491c00d39b9e85" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">7.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Acknowledgement</u></font>. You and the Company each acknowledge
                  and agree that nothing in this Agreement shall be applied to limit or interfere with your right, without notice to or authorization of the Company, to communicate and cooperate in good faith with a Government Agency for the purpose of (i)
                  reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Agency, including by providing documents or
                  other information, or (iii) filing a charge or complaint with a Government Agency. For purposes of this Agreement, &#8220;Government Agency&#8221; means the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational
                  Safety and Health Administration, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or any other federal, state or local governmental agency or commission.&#160;
                  You understands that you will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state, or local government official, or
                  to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or (c) in court proceedings
                  if you file a lawsuit for retaliation by an employer for reporting a suspected violation of law, or to your attorney in such lawsuit, provided that you must file any document containing the trade secret under seal, and you may not
                  disclose the trade secret, except pursuant to court order.&#160; However, you are not authorized to make any disclosures as to which the Company may assert protection from disclosure under the attorney-client privilege or the attorney work
                  product doctrine, without prior written consent of the Company&#8217;s General Counsel or another authorized officer designated by the Company.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z5982a4274f1a48dfaecfdb0f7edd3d9f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">8.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Attorneys&#8217; Fees</u></font>. The Company will be entitled to
                  receive from you reimbursement for reasonable attorneys&#8217; fees and expenses it incurs in successfully enforcing this Agreement to final judgment (including appeals) and you shall be entitled to receive from the Company reasonable
                  attorneys&#8217; fees and expenses you incur in the event the Company is found to not be entitled to enforcement of this Agreement.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z41ef062dcfde404ba0397ff87900574e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">9.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Successors and Assigns</u></font>. This Agreement shall inure to
                  the benefit of and shall be binding upon the successors and assigns of the Company, including any party with which the Company may merge or consolidate or to which it may transfer substantially all of its assets. As used in the Agreement,
                  the term &#8220;successor&#8221; shall include any person, firm, corporation or other business entity which at any time, whether by merger, purchase or otherwise, acquires all or substantially all of the capital stock or assets of the Company.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">10.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Severable Provisions</u></font>. The provisions of this Agreement
                  are severable, and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provisions to the extent enforceable shall
                  nevertheless be binding and enforceable.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zff5a2ee458dc46a6b03a38701b821581" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">11.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Modifications</u></font>. The parties hereby authorize any court
                  of other tribunal of competent jurisdiction to modify any provision(s) held to be invalid or unenforceable to the extent necessary to permit such provision(s) to be legally enforced to the maximum extent permissible and to then enforce
                  the provision(s) as modified.</div>
              </td>
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        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
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            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">12.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Prior Understandings</u></font>. This Agreement contains the
                  entire agreement between the parties with respect to the subject matter of this Agreement. The Agreement supersedes all prior understanding,&#160; agreements, or representations.</div>
              </td>
            </tr>

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        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="za9236f250830469398ce1e8d5fcbd9dd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">13.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Waiver</u></font>. Any waiver of a default under this Agreement
                  must be made in writing and shall not be a waiver of any other default concerning the same or any other provision of this Agreement. No delay or omission in the exercise of any right or remedy shall impair such right or remedy or be
                  constructed as a waiver. A consent to or approval of any act shall not be deemed to waive or render unnecessary consent to or approval of any other or subsequent act.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="za3bb688fe10f4ddf95ffcb36e7a7bba9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">14.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Jurisdiction and Venue</u></font>. This Agreement is to be
                  construed pursuant to the laws of the State of Minnesota.&#160; You agree to submit to the jurisdiction and venue of any court of competent jurisdiction in Hennepin County, Minnesota without regard to conflict of laws provisions, for any claim
                  arising out of this Agreement.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="zca9564e5a74e4e67b1e47f72fb6b19b5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">Dated:</td>
              <td style="width: 15%; vertical-align: top; border-bottom: 2px solid black;">
                <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;<font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; </font>, <br>
                </div>
              </td>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">2020 <br>
              </td>
              <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="vertical-align: top; padding-bottom: 2px;" colspan="2">
                <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">REGIS CORPORATION</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2">&#160;</td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2">&#160;</td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By</div>
              </td>
              <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2">&#160;</td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Title:</div>
              </td>
              <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By your signature below you acknowledge that you have read and understand the foregoing Agreement, that you agree to comply with all of the terms of the
          Agreement, and that you have received a copy of the Agreement.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="zb59dc9aec14c417ea88b5f67357b4a25" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">Dated:</td>
              <td style="width: 15%; vertical-align: top; border-bottom: 2px solid black;">
                <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;<font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; </font>, <br>
                </div>
              </td>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">2020 <br>
              </td>
              <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 30%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Felipe A. Athayde</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" id="DSPFPageHeader"></div>
      </div>
      <div style="text-align: center; font-weight: bold;"><u>Exhibit C</u></div>
      <div style="text-align: center;"><u> <br>
        </u></div>
      <div>
        <div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>ARBITRATION AGREEMENT</u></div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In consideration of my employment by Regis Corporation (including its successors, subsidiaries or assigns) (the &#8220;Company&#8221;), as well as the Company&#8217;s
            reciprocal agreement to arbitrate, I agree that all claims and disputes arising out of or relating to my application for employment, employment or termination of employment with the Company, including the making or interpretation of this
            Agreement, and further including any such claim or dispute that may have arisen before the date of this Agreement, shall be decided by final and binding arbitration in accordance with the Employment Arbitration Rules of the American Arbitration
            Association</div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(AAA). <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">I UNDERSTAND THAT THIS AGREEMENT TO ARBITRATE IS
              IN LIEU OF THE COMPANY&#8217;S OR MY RIGHT TO A COURT OR JURY TRIAL AND IS BINDING UPON MY HEIRS, EXECUTORS AND ADMINISTRATORS</font>.</div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This Agreement is intended to be broadly interpreted but does not modify the at-will relationship between me and the Company. It includes, but is not
            limited to, all civil claims recognized by law which arise out of or relate in any way to my employment or other relationship with the Company (including application for, or termination of, employment or other relationship) including, but not
            limited to, claims under the Fair Labor Standards Act or any local or state law governing hours of work and pay, claims of employment discrimination or harassment based upon any recognized protected status under applicable federal or state law,
            (including but not limited to claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act), claims under the Family and Medical Leave Act, the Immigration Reform and
            Control Act and any other local, state or federal law concerning employment, as well as all claims based on contract, tort or statute. Furthermore, this Agreement applies to any claim recognized by law against an individual who is or was an
            officer or employee of Company, for any claims arising out of or relating to my employment. The only legal disputes and claims excluded from this Agreement are: (a) claims for workers&#8217; compensation, unemployment, or other benefits under a plan
            or program providing its own process for dispute resolution; (b) claims for which this Agreement would be invalid as a matter of federal law, or state law that is not preempted by federal law; (c) actions to enforce this Agreement, compel
            arbitration, or enforce, modify, or vacate an arbitrator&#8217;s award; (d) a claim or charge filed with a federal, state, or local administrative agency, such as the Equal Employment Opportunity Commission, National Labor Relations Board, Department
            of Labor, or similar agency; (e) an action by me or the Company seeking a provisional remedy in any court of competent jurisdiction; (f) claims asserted by me, or on my behalf by another party, prior to my execution or deemed acceptance of this
            Agreement as provided herein; and (g) claims for breach of confidentiality or trade secret violations. As to subpart (c) above, the Company and I agree and those actions are covered, and governed, by Section 2 of the Federal Arbitration Act, 9
            U.S.C. &#167; 2, and not any state law. Judgment on an arbitrator&#8217;s award may be entered by any court of competent jurisdiction. By agreeing to this Agreement, I do not waive the right to file an administrative complaint with the appropriate
            administrative agency, but I knowingly and voluntarily waive the right to file, or participate or obtain relief in, a lawsuit or court action of any nature against the Company, unless excluded above. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">I UNDERSTAND AND AGREE, BY ENTERING INTO THIS AGREEMENT, BOTH I, AND THE COMPANY, CAN ONLY BRING CLAIMS AGAINST EACH OTHER IN OUR INDIVIDUAL CAPACITIES AND NOT AS A PLAINTIFF OR CLASS
              MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, OR REPRESENTATIVE PROCEEDING</font>. Further, unless both I and the Company agree otherwise, the arbitrator may not consolidate more than one person&#8217;s claims, and may not otherwise preside over any
            form of a representative or class proceeding. If this specific provision is found to be unenforceable, then the entirety of this arbitration provision shall be null and void.</div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In accordance with the AAA&#8217;s Employment Arbitration Rules written notice of demand for arbitration must be delivered or sent by certified mail to the
            other party to this agreement and to the AAA or to another arbitrator mutually acceptable to the company and me if not accepted by the AAA. All arbitration fees shall be paid in accordance with the AAA&#8217;s Employment Arbitration Rules. The
            applicable statutes of limitations for the claims asserted shall be utilized by the Arbitrator to determine the timeliness of all claims asserted. The arbitrator shall have exclusive authority to resolve any Claims and award any form of remedy
            or damages available in a court. This arbitration agreement does not preclude me from bringing issues to the attention of federal, state or local agencies or from engaging in concerted activity under the National Labor Relations Act<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">.</font></div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This is a written agreement to arbitrate, which shall be governed by and enforced in accordance with the provisions of the Federal Arbitration Act, 9
            U.S.C. &#167;1 <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">et seq. </font>The award rendered by the arbitrator shall be final, and judgment may be entered upon it in accordance with the
            applicable law in any court having jurisdiction thereof. The arbitrator shall issue a written and signed statement of the basis of his or her decision. If the arbitrator renders an award, findings of fact and conclusions of law must be included
            in the decision.</div>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageBreak" style="page-break-after:always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
            <div style="width: 100%;" id="DSPFPageHeader"></div>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This is the complete agreement between me and the Company about arbitration, and supersedes any other understandings on the subject. No other
            representations are being relied on by me or the Company. This Agreement cannot be orally modified, and shall remain in effect, even after the termination of my employment or my reassignment to another position with the Company. I intend each
            of the provisions of this Agreement to be fully enforceable. If, however, any provision of this Agreement is adjudged to be void or otherwise unenforceable, in whole or in part, I agree such provision shall be severed and this determination
            shall not affect the validity or enforceability of the remainder of the Agreement.</div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">I warrant and agree I have read, and I understand, this Agreement and I have had the opportunity to consult an attorney of my choosing regarding its
            effect to the extent I deem necessary. By signing this Agreement, I acknowledge, except as described above, I am knowingly and voluntarily waiving the right to file a lawsuit regarding my employment (including my termination of employment) or
            other association with the Company, as well as the right to resolve disputes in a proceeding before a judge or jury. I further acknowledge and agree this Agreement, while mutually binding on me and the Company, does not constitute a guarantee
            of employment, or continued employment, for any fixed period or under any particular terms except those in this Agreement, and does not alter, in any way, any at-will nature my employment relationship.</div>
          <div><br>
          </div>
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>ACKNOWLEDGEMENT</u></div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">I ACKNOWLEDGE THAT I HAVE READ AND UNDERSTAND THIS ARBITRATION AGREEMENT AND I AM AGREEING TO ITS TERMS.</div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="z521a185d5d344604b3951f17ec330b64" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td nowrap="nowrap" style="width: 15%; vertical-align: top;">
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Employee Signature</div>
                </td>
                <td style="width: 63%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 6.83%; vertical-align: top;">
                  <div style="text-align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Date</div>
                </td>
                <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>

          </table>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
                  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Print Name:</div>
                </td>
                <td style="width: 90%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 10%; vertical-align: top;">&#160;</td>
                <td style="width: 90%; vertical-align: top;">&#160;</td>
              </tr>

          </table>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Revised September 2019</div>
          <div><br>
          </div>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>brhc10014959_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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    <title></title>
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  <div style="text-align: right;">
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
  </div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">NON-COMPETE, NON-DISCLOSURE, NON-SOLICITATION AND NON-HIRE AGREEMENT</div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This is an Agreement between Felipe A. Athayde (&#8220;You&#8221;) and Regis Corporation (&#8220;Regis&#8221; or &#8220;Company&#8221;).&#160; The Agreement is effective on September 4, 2020
      (&#8220;Effective Date&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In consideration of the employment opportunity provided by Regis on or about September 4, 2020, you, intending to be legally bound, agree to the following:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfc674230648640a2a947d87deeded66a">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Term of Agreement</u></font>. This Agreement is effective on the
              Effective Date, and will remain in effect throughout your employment with Regis and for a period of twelve (12) months thereafter. The obligation not to disclose set forth in Section 3 will continue indefinitely.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd946df2fd7bd4aff8464605689f488be">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Limitations of this Agreement</u></font>. This Agreement is <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">not </font>a contract of employment. Neither you nor Regis are obligated to any specific term of employment. This Agreement is limited to the
              subject matter of covenants not to compete, hire, or solicit as described in this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc859d371a60148cebc35911c8c0a572b">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Non-Disclosure of Trade Secrets and Confidential Information</u></font>.
              You acknowledge that, in the performance of your duties, you have and will receive confidential and valuable business information, including but not limited to business and marketing plans, finances, trade practices, accounting methods,
              methods of operation, business practices and methods, profit margins, costs, customer and commercial relationships, customer lists and information, company manuals, personnel records or any other data Regis considers to be confidential
              information. You agree that, at any time during or after the term of your employment with Regis, you will not divulge, disclose, reveal or communicate to any business entity or other person (with the exception of the Securities and Exchange
              Commission or the Company) such information or trade secrets or other valuable information you may obtain during your employment concerning any matters affecting or relating to Regis&#8217; business as long as such information is not publicly
              available. You also agree that upon termination of employment with Regis or sooner (if it is required by Regis in writing), you will return to Regis all original and copies of any document or materials of any kind (including those in
              electronic formats) acquired or coming to your knowledge and custody in connection with your employment with Regis, whether prepared by you, Regis, or others.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z90788766413b44499f5d4d4e3d920a86">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Covenant Not to Compete</u></font>. You agree that at no time during
              the term of your employment with Regis will you engage in any business activity which is competitive with Regis nor work for any company which competes with Regis in the beauty salon industry. Nothing in this agreement prohibits you from
              working for a current Regis franchisee or becoming a Regis franchisee as Regis does not consider its franchisees to be competitors.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">For a period of twelve (12) months immediately following the termination of your employment (regardless of the reason for termination)
      you agree that within the United States, you will not, directly or indirectly, for you or on behalf of any other, as an individual on your account, or as an employee, agent or representative of any person, partnership, firm, corporation, or other
      entity or as a member of any partnership, or as an officer, employee or shareholder of any corporation, or otherwise:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z894772c5a79740968342f507d87579a5">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">solicit, divert, do business with, or take away any of the customers or franchisees of Regis;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z87b29740137d40b68b7284df111fbe9c">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">enter into endeavors that are competitive with the business or operations of Regis in the&#160; beauty industry;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd41b6d493b2a4b38b763fa5c8368445e">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">own an interest in, manage, operate, join, control, lend money or render financial or other assistance to or participate in or be connected with, as an officer ,
              employee, director, partner, member, stockholder (except for passive investments of not more than a one percent (1%) interest in the securities of a publicly held corporation regularly traded on a national securities exchange or in an
              over-the-counter securities market) consultant, independent contractor, or otherwise, any individual, partnership, firm, corporation or other business organization&#160; or entity that engages in a business which competes with the business or
              operations of Regis in the beauty industry.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z274746680faf4aa28e72c159aa58533e">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Non-solicitation and non-hire</u></font>. During the term of your
              employment, and for a period of twelve (12) months immediately thereafter, you agree you will not, in any way, directly or indirectly, induce or attempt to induce any employee that reports to you, either directly or indirectly, to leave
              Regis&#8217; employ, you will not otherwise interfere with or disrupt Regis&#8217; relationship with employees and you will not solicit, assist in the solicitation of, entice, take away, divert or employ any person employed by Regis. You also agree that
              for a period of twelve (12) months after your employment, you will not hire anyone that, within the twelve (12) months prior to the termination of your employment, directly or indirectly, reported to you while you worked at Regis.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc0daa833812c4e478616bc33d5a5a169">

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          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Injunctive Relief</u></font>. You hereby acknowledge: (1) that Regis
              will suffer irreparable harm if you breach your obligations under this Agreement; and (2) that monetary damages will be inadequate to compensate Regis for such a breach. Therefore, if you breach any of such provisions, then Regis shall be
              entitled to injunctive relief, in addition to any other remedies at law or equity, to enforce such provisions.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">You further agree to waive any requirement for the securing or posting of any bond or other security in connection with the obtaining of
      any such injunctive or equitable relief. In the event of a breach of any of the provisions contained in this section, you and Regis intend that Regis will have the full benefits of the post-termination restrictions contained in Paragraphs 4 and 5 of
      this section and agree that in any action for specific performance of other equitable relief, Regis shall be entitled to an extension of time of the post-termination restrictions contained in Paragraphs 4 and 5 if necessary to achieve that result.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Acknowledgement</u></font>. You and the Company each acknowledge and
              agree that nothing in this Agreement shall be applied to limit or interfere with your right, without notice to or authorization of the Company, to communicate and cooperate in good faith with a Government Agency for the purpose of (i)
              reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Agency, including by providing documents or other
              information, or (iii) filing a charge or complaint with a Government Agency. For purposes of this Agreement, &#8220;Government Agency&#8221; means the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety
              and Health Administration, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or any other federal, state or local governmental agency or commission.&#160; You
              understands that you will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state, or local government official, or to an
              attorney, solely for the purpose of reporting or investigating a suspected violation of law, (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or (c) in court proceedings if you
              file a lawsuit for retaliation by an employer for reporting a suspected violation of law, or to your attorney in such lawsuit, provided that you must file any document containing the trade secret under seal, and you may not disclose the trade
              secret, except pursuant to court order.&#160; However, you are not authorized to make any disclosures as to which the Company may assert protection from disclosure under the attorney-client privilege or the attorney work product doctrine, without
              prior written consent of the Company&#8217;s General Counsel or another authorized officer designated by the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z289b4e2698eb48b1b213e4f18db8b511">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Attorneys&#8217; Fees</u></font>. The Company will be entitled to receive
              from you reimbursement for reasonable attorneys&#8217; fees and expenses it incurs in successfully enforcing this Agreement to final judgment (including appeals) and you shall be entitled to receive from the Company reasonable attorneys&#8217; fees and
              expenses you incur in the event the Company is found to not be entitled to enforcement of this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z496e1561ea6d4d69a8636302e69057e3">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Successors and Assigns</u></font>. This Agreement shall inure to the
              benefit of and shall be binding upon the successors and assigns of the Company, including any party with which the Company may merge or consolidate or to which it may transfer substantially all of its assets. As used in the Agreement, the
              term &#8220;successor&#8221; shall include any person, firm, corporation or other business entity which at any time, whether by merger, purchase or otherwise, acquires all or substantially all of the capital stock or assets of the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z880fa09548054903a7b35585f1e04464">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Severable Provisions</u></font>. The provisions of this Agreement are
              severable, and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provisions to the extent enforceable shall nevertheless be
              binding and enforceable.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z71b7be4222aa4846a09b99e9d54120f1">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Modifications</u></font>. The parties hereby authorize any court of
              other tribunal of competent jurisdiction to modify any provision(s) held to be invalid or unenforceable to the extent necessary to permit such provision(s) to be legally enforced to the maximum extent permissible and to then enforce the
              provision(s) as modified.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">12.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Prior Understandings</u></font>. This Agreement contains the entire
              agreement between the parties with respect to the subject matter of this Agreement. The Agreement supersedes all prior understanding,&#160; agreements, or representations.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3f88a403a0784bedacf75573857f090c">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">13.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Waiver</u></font>. Any waiver of a default under this Agreement must
              be made in writing and shall not be a waiver of any other default concerning the same or any other provision of this Agreement. No delay or omission in the exercise of any right or remedy shall impair such right or remedy or be constructed as
              a waiver. A consent to or approval of any act shall not be deemed to waive or render unnecessary consent to or approval of any other or subsequent act.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3ed6fdbc57c24cdd8d9fe274934f035b">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">14.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Jurisdiction and Venue</u></font>. This Agreement is to be construed
              pursuant to the laws of the State of Minnesota.&#160; You agree to submit to the jurisdiction and venue of any court of competent jurisdiction in Hennepin County, Minnesota without regard to conflict of laws provisions, for any claim arising out
              of this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4adaf831549b4fbabacf88417cf15462">

        <tr>
          <td nowrap="nowrap" colspan="1" style="width: 4%; vertical-align: bottom; padding-bottom: 2px; text-align: left;">Dated:</td>
          <td style="width: 15%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;<font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; September 4&#160; &#160; &#160;&#160; </font><br>
            </div>
          </td>
          <td nowrap="nowrap" colspan="1" style="width: 4%; vertical-align: bottom; padding-bottom: 2px; text-align: left;">, 2020</td>
          <td colspan="1" style="width: 42%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="vertical-align: top; padding-bottom: 2px;" colspan="2">
            <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">REGIS CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By</div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Amanda P. Rusin</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Title:</div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">SVP, General Counsel and Corporate Secretary</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By your signature below you acknowledge that you have read and understand the foregoing Agreement, that you agree to comply with all of the terms of the
      Agreement, and that you have received a copy of the Agreement.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="036683c50ba646aa9025d742410495a1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td colspan="1" style="width: 4%; vertical-align: bottom; padding-bottom: 2px; text-align: left;">Dated:</td>
          <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid black; text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">September 4</font></td>
          <td colspan="1" style="width: 4%; vertical-align: top; padding-bottom: 2px;">,2020</td>
          <td colspan="1" style="width: 42%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Felipe A. Athayde</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 42%; vertical-align: top;">&#160;</td>
          <td style="width: 35%; vertical-align: top;">Felipe A. Athayde</td>
        </tr>

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    <div style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>brhc10014959_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Sabres09!
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;"><u> </u>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">Exhibit 10.3<u><br>
      </u></div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u> <br>
    </u></div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>TRANSITION SERVICES AND RELEASE AGREEMENT</u></div>
  <div><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z6970fd1debc040a694e77b2c58e101d7" class="DSPFListTable">

        <tr style="vertical-align: top;">
          <td style="vertical-align: top; width: 54pt;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">TO:</font></div>
          </td>
          <td style="align: left; vertical-align: top; width: auto;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Hugh Sawyer</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z1a2e875ff7b044c49729a1effae0127e" class="DSPFListTable">

        <tr style="vertical-align: top;">
          <td style="vertical-align: top; width: 54pt;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">FROM:</font></div>
          </td>
          <td style="align: left; vertical-align: top; width: auto;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Regis Corporation</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z4f91c00a2f1e462094f4b4ed71fc833d" class="DSPFListTable">

        <tr style="vertical-align: top;">
          <td style="vertical-align: top; width: 54pt;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">DATE:</font></div>
          </td>
          <td style="align: left; vertical-align: top; width: auto;">
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">September 3, 2020</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This Transition Services and Release Agreement (&#8220;Agreement&#8221;) is between Hugh Sawyer (&#8220;Executive&#8221;) and Regis Corporation (&#8220;Regis&#8221; or &#8220;Company&#8221;) collectively,
    the &#8220;parties&#8221;.&#160; This Agreement sets out the terms of Executive&#8217;s separation of employment from Regis, as well as the terms of Executive&#8217;s subsequent consulting services to the Company.</div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>TERMS OF AGREEMENT</u></div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z996029a879ee4fe5a269870dc017bee5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Termination of Employment</u></font>.&#160; Executive hereby resigns his employment as
            President and CEO of the Company effective as of the close of business on the day before the start date of Executive&#8217;s successor as President and CEO (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Departure








                Date</u></font>&#8221;).&#160; The parties expect that Executive&#8217;s successor will start with the Company on October 1, 2020, but no later than October 5, 2020.&#160; Effective on the Departure Date, Executive&#8217;s employment with the Company will terminate
            and the Executive will be removed from Executive&#8217;s position with the Company.&#160; Executive hereby further resigns any position he holds as an officer, manager, director, Chairman of the Board of Directors, member of the Board of Directors, agent
            or in any other capacity of the Company or any of its affiliates (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Affiliates</u></font>&#8221;), or as a trustee or fiduciary of any employee benefit plans covering
            employees or other service providers of the Company or any of its Affiliates, in each case effective as of the Departure Date.&#160; Simultaneously with Executive&#8217;s signing of this Agreement, Executive will sign a letter effectuating such voluntary
            resignations in the form attached hereto as <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Exhibit A</u></font>, and agrees to execute any other documents necessary to effectuate such resignations.&#160; The Company
            agrees to provide Executive with the opportunity to review and provide comments to the Company&#8217;s press release announcing Executive&#8217;s separation from employment, which comments the Company will incorporate within reason.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zb6c8e5456d084b7a9bb69d5ca38ce18b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Termination Payments</u></font>.&#160; Executive shall be entitled to receive:</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zbae4ca42626248bebb128bbcaf077c54" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">All wages Executive has earned through and including the Departure Date;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z7c1954b4ca124ac2bf625ea7e6cff2a4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Three weeks of Executive&#8217;s unused PTO benefit;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zcee769af4b364b30a59d9e4f9805e85d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any medical expenses incurred under the Company&#8217;s Group Executive Medical Reimbursement Policy that are incurred on or before the Departure Date, which reimbursements
            shall be made in the normal course upon timely presentation of claims;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="ze3bd0a4d27ce4557ac568f266762696c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Reimbursement for all necessary business expenses Executive has incurred through the Departure Date, if any, for which Executive seeks reimbursement.&#160; Any such request
            for reimbursement must be submitted in accordance with Regis&#8217; policies regarding reimbursement requests.&#160; Thereafter, Executive agrees that Executive will be ineligible for further expense reimbursement from Regis, unless otherwise required by
            law.&#160; Upon submission of Executive&#8217;s timely request for reimbursement, Regis will reimburse Executive for all necessary business expenses Executive incurred pursuant to the Company&#8217;s regular business practices; and</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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  <table cellspacing="0" cellpadding="0" id="zde097805fb0a4bc0951bf43c3b083d4e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">e.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">All compensation accrued as of the date of Executive&#8216;s termination under each plan or program of the Company in which Executive may be participating at the time of
            termination in accordance with the terms of such plan or program, including but not limited to the Executive Retirement Savings Plan, the Regis Individual Secured Retirement Plan, and the Long-Term Incentive plans and equity awards thereunder.&#160;
            This Agreement has no effect on such plans, and the amount to which Executive is entitled under the foregoing is subject to each plan&#8217;s terms and conditions.&#160; For sake of clarity, &#8220;all compensation accrued as of the date of Executive&#8217;s
            termination under each plan or program of the Corporation&#8221; shall specifically include Executive&#8217;s contributions and all matching contributions made by Regis to the Executive Retirement Savings Plan and/or the Regis Individual Secured Retirement
            Plan, but shall not include any short-term incentive bonus for the fiscal year that ended in June 2020, or for any subsequent fiscal year.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z67d1d8d4c8d04e7eb86619ca03ef0f86" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Sole Payments and Benefits</u></font>.&#160; By signing this Agreement, Executive agrees that
            the amounts identified in Section 2 shall be the sole and exclusive payments and benefits to which the Executive shall be entitled in respect of Executive&#8217;s termination of employment with the Company pursuant to this Agreement, and that these
            amounts represent all of the wages, benefits, and other amounts due to Executive as a result of Executive&#8217;s employment with Regis and the termination of that employment.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z08ffd39c049f435a9aa82f909e495ad9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">4.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Consulting Services</u></font>.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z6556e8b7883c43268f20a1dfa8f7bd0e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Effective as of the Departure Date and through the date that is the twelve (12) month anniversary of the Departure Date, or such earlier date as outlined in Section 4(d)
            below (the &#8220;Consulting Term&#8221;), the Executive shall serve as an Executive Advisor to the Company as reasonably requested by the Company in its sole discretion.&#160; As Executive Advisor, Executive shall collaborate with the Company&#8217;s new CEO and
            will be reasonably available to provide advice and support solely related to the transition of his role to the new CEO, and in continuing to serve as a representative and spokesperson for the Company as set forth on <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Exhibit B</u></font> hereto, and as may reasonably be requested from time to time by the Company&#8217;s Chief Executive Officer (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>CEO</u></font>&#8221;) or Board of Directors, consistent with Executive&#8217;s role as Executive Advisor, which may include written communication by email, telephonic communication and video conferencing with key constituents upon
            reasonable notice.&#160; No travel will be required except by agreement of the parties and any such travel shall be in accordance with COVID-19 guidelines from the Centers for Disease Control and appropriate state authorities.&#160; As Executive Advisor,
            Executive shall report directly to the Board of Directors, and agrees to undertake and faithfully perform the duties and responsibilities of such position as described herein.&#160; As Executive Advisor, the Executive shall be an independent
            contractor of the Company.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z72018be099de43c59052b2bd23d1c0bf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">As compensation for the consulting services rendered hereunder, and subject to Executive&#8217;s continued compliance with Sections 6 and 7 below, Company shall pay the
            Executive a fee of equal to $1,200,000.00 (the &#8220;Consulting Fee&#8221;), 50% of which shall be payable in substantially equal installments biweekly in accordance with the Company&#8217;s normal payment policies, commencing on the Departure Date and
            continuing for six (6) consecutive months and 50% of which shall be payable in a lump sum on the first regularly scheduled payroll period in the seventh (7th) month following the Departure Date; provided that the first installment shall be paid
            on the first regularly scheduled payroll date following the date this Agreement becomes effective and irrevocable (without revocation).</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div>
    <div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z950f49ad17b44d98848a428b9ec6569d" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 36pt;">&#160;</td>
            <td style="vertical-align: top; width: 36pt;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c.</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Company will pay the employer portion of the Executive and his spouse&#8217;s COBRA premiums for health and dental insurance coverage under the Company&#8217;s group health
                and dental plans for a period of twelve (12) months following the Departure Date, provided Executive timely elects COBRA coverage; and provided further than such payment will cease if Executive becomes eligible to be covered under the
                health, dental and/or vision insurance policy of a new employer, or Executive ceases to participate, for whatever reason, in the Company&#8217;s group insurance plan.&#160; Such benefit shall be treated as taxable compensation to Executive to the
                extent necessary to avoid adverse tax consequences to the Company or Executive.</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z12b5c155437b4213ad324b314ac2eac8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">During the Consulting Term, the Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business expenses (including expenses for any
            travel mutually agreed to by the parties) approved by the Company and incurred by the Executive in connection with the performance of the Executive's consulting duties hereunder in accordance with the Company's expense reimbursement policies
            and procedures, including submission by the Executive of reasonable documentation with respect to such expenses in accordance with the Company&#8217;s policies as in effect from time to time.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zc1abfc1de819445e9858922f4f2c29ee" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">e.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Consulting Term may be terminated prior to the expiration of the twelve (12) month term as follows:</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z939926f1a4a141a5b91434d567d276ea" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">i.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In the event of Executive&#8217;s death, the Consulting Term shall terminate on the date of death.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zec03f99dc5b842398e8009a42e31566e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">ii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In the event of Executive&#8217;s physical or mental disability or health impairment which prevents the effective performance by Executive of Executive&#8217;s duties hereunder, with
            such termination to occur after Executive has been unable to substantially perform the Executive&#8217;s consulting services hereunder for three (3) consecutive months.&#160; Any dispute as to Executive&#8217;s physical or mental disability or health impairment
            shall be settled by the opinion of an impartial physician selected by the parties or their representatives or, in the event of failure to make a joint selection after request therefor by either party to the other, a physician selected by the
            Company, with the fees and expenses of any such physician to be borne by the Company.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zcab06896daa04e1eaac61aae8f19e221" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By mutual agreement between the Company and Consultant, with such termination to occur on a date agreed upon by the parties.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zc8b1deca05b34fee862e82847dab4aa8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In the event of Executive&#8217;s breach of Sections 8 or 9 of the Employment Agreement, or of Sections 6 or 7 of this Agreement, with such termination to occur thirty (30)
            days after the Company provides written notice of any such breach above to Executive, and to the extent Executive has not cured said breach.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="z7491a784a0dd4e8a8bfb015dc1176bb7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">5.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Withholding Taxes; Independent Contractor Status</u></font>.&#160; The Company may withhold
            from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.&#160; The Executive acknowledges and agrees that, during the Consulting Term, (a) the
            Executive will be an independent contractor, and not an employee, of the Company within the meaning of all federal, state and local laws and regulations governing employment relationships, including insurance, workers&#8217; compensation, and taxes;
            (b) except as expressly authorized by the Company, the Executive shall not have any right to act for, represent or otherwise bind the Company in any manner; (c) the Executive shall not be entitled to participate in any employee benefit plans or
            arrangements of the Company and shall not be provided with health and welfare benefits, including, without limitation, medical and dental coverage (other than Executive&#8217;s post-termination participation under COBRA), and (d) the Executive shall
            be solely responsible for any workers&#8217; compensation, unemployment or disability insurance payments, or any social security, income tax or other withholdings, deductions or payments (including self-employment taxes) that may be required by
            federal, state or local law with respect to any sums paid to the Executive hereunder..</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z1aac0d27e7b34aa983bab9a97250e26a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">6.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Non-disparagement Restrictions</u></font>.&#160; To the fullest extent permitted by law,
            Executive agrees not to make or endorse any disparaging or negative remarks or statements (whether oral, written, or otherwise) concerning Regis or its predecessors, successors, and/or assigns, as well as past and present officers, directors,
            agents, and/or employees.&#160; The Company will instruct its current officers and directors to not make or endorse any disparaging or negative remarks or statements (whether oral, written, or otherwise) about Executive.&#160; Nothing in this paragraph
            shall prevent the Executive or Regis or any of its officers or directors from providing truthful testimony and/or information in response to a lawful subpoena, court order or governmental inquiry.&#160; Furthermore, nothing in this paragraph shall
            be applied to limit or interfere with Executive&#8217;s right to engage in the &#8220;Protected Activities&#8221; as defined in Section 17 below.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z27942db5fbfa41ab9e003bc5863f8772" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">7.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Non-Disclosure of Confidential or Proprietary Information; Compliance With Non-Competition
                and Non-Solicitation Restrictions</u></font>.&#160; Executive hereby acknowledges Executive&#8217;s obligations under Sections 8 and 9 of the Employment Agreement between Executive and Regis Corporation dated April 17, 2017 (the &#8220;Employment
            Agreement&#8221;).&#160; Executive further reaffirms such obligations, and agrees that these obligations continue to apply to Executive during (and with respect to Section 8, after) the Consulting Term.&#160; Furthermore, Executive agrees that for purposes of
            the Employment Agreement, the definition of &#8220;Non-Competition Period&#8221; shall mean the period during which the Executive provides consulting services to the Company and through the end of the twenty-four month period immediately following the end
            of the Consulting Term.&#160; All other terms and obligations of the Employment Agreement shall remain in full force and effect.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z938afc884a344cb3a3d96601236139be" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">8.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Return of Corporate Property</u></font>.&#160; By signing below, Executive represents and
            warrants that all Regis property will be returned to Regis at the end of the Consulting Term, in order to facilitate his role as Executive Advisor.&#160; Executive will not retain any copies, electronic or otherwise, of any Regis property after the
            end of the Consulting Term.&#160; Notwithstanding this paragraph of this Agreement, Executive may keep documents pertaining to Executive&#8217;s compensation and/or benefits. The Company acknowledges that the Executive has previously purchased his Android
            mobile device from the Company, but the parties agree that the Company shall not be obligated to cover any expenses related to Executive&#8217;s use of such device after the Departure Date. The Company will permit Executive to utilize his
            Company-issued Microsoft Surface Pro during the period of the Consulting Term, and Executive agrees to return said device at the conclusion of the Consulting Term.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zbbf9b8671caf45179e3ecdda8ce80bd0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">9.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Litigation and Other Legal Matters</u></font>.&#160; Executive agrees to be reasonably
            available upon reasonable notice from Regis, with or without subpoena, to be interviewed, review documents or things, give depositions, testify, or engage in other reasonable activities, including in connection with any pending and future
            litigation, investigations, arbitrations, and/or other fact-finding or adjudicative proceedings, public or private, internal or external to Regis or any of the other Released Parties, with respect to matters of which Executive has knowledge or
            should have knowledge.&#160; Regis will cooperate with Executive&#8217;s reasonable scheduling needs; will reimburse Executive for Executive&#8217;s reasonable expenses incurred in connection with Executive&#8217;s obligations under this paragraph; and will negotiate
            in good faith and agree upon an appropriate per diem or hourly rate for any cooperation and/or assistance provided by Executive after the Departure Date.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z5aa833e1ad7b47948e1943f0c6a09c95" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">10.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>References</u></font>.&#160; Executive agrees that Executive will refer all reference checks
            regarding his employment with Regis to the Vice President of Human Resources for the Company.&#160; For all reference checks that are referred to such person, references will be limited to confirmation of Executive&#8217;s dates of employment and last
            position held.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z80db715c7b68403e835efbc6faf7f77e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">11.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>General Release</u></font>.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z65e21da223004b968705032774b13aac" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In exchange for the benefits promised to Executive in this Agreement, Executive agrees to irrevocably and unconditionally release and discharge Regis Corporation, Regis
            Corp., Regis, Inc., and any and all subsidiaries, affiliates, predecessors, successors and/or assigns, as well as each of their past and present officers, directors, employees, and agents (collectively, the &#8220;Released Parties&#8221;), from any and all
            claims, liabilities, or promises, whether known or unknown, arising out of or relating to Executive&#8217;s employment with Regis through the date Executive signs this Agreement.&#160; Executive waives these claims on behalf of Executive and his heirs,
            assigns, and anyone making a claim through Executive.&#160; The claims waived and discharged include, but are not limited to, claims under or relating to:</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zc0399c8c38404ce5a97498772de4fe16" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">i.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Title VII of the Civil Rights Act of 1964;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z01ecfd6e13db44699038cd4daa041466" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">ii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Sections 1981 through 1988 of Title 42 of the United Sates Code;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z13493abddc19402b8669c7b4ad8587bf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Civil Rights Act of 1991;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="za86aa61978484043b179d61dc22344f2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Employee Retirement Income Security Act of 1974 (except for any vested benefits under any tax qualified benefit plan);</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z431c6c290f97481b8d801f0fb76d547f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">v.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Age Discrimination in Employment Act of 1967 (the &#8220;ADEA&#8221;);</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zc9b54a3e3a33413db172176d703279c7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">vi.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Rehabilitation Act of 1973;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z8962a35ae3d34229b94518ab6dd88508" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">vii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Immigration Reform and Control Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z4f2f670e882143969b9a59003a5267f5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">viii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Americans with Disabilities Act of 1990;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z58eb7671a8e8427dabae4767064152aa" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">ix.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Americans with Disabilities Amendments Act of 2008;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z8949efdf09b940b980d9c029a2a53bf0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">x.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Fair Credit Reporting Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z3125f4923b924b3f88722e93ceb108f7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xi.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Sarbanes-Oxley Act of 2002, to the extent permitted by law;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z708410fe78554bfc81c59ed5dd5019cb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Occupational Safety and Health Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zb28a109ae4334bb6970ff3a955fc9496" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xiii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Family and Medical Leave Act of 1993;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zd74d10ff0f604586a285cc8e07ab067c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xiv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Equal Pay Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z0a03e356f76445749361ffcd76b2648f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Genetic Information Nondiscrimination Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zbf97b66898174d468d8693ac843364e3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xvi.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Worker Adjustment and Retraining Notification Act;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zef21b1162ec5423697f09deb2dc9460d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xvii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota Human Rights Act, Minn. Stat. &#167; 363A.01, et seq.;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z09cdd00373504197a18827909376645c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xviii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota wage-hour and wage-payment laws;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z56f0b7045f77480aba50afe02b8e3bbb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xix.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Minnesota&#8217;s Whistleblower Act, Minn. Stat. &#167; 181.932;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="ze9049a5646ca464294ea2977ec66eb7e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xx.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Minn. Stat. &#167; 176.82;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zf9a0fabfaf36477d91d807862d75c768" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xxi.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The non-discrimination and anti-retaliation provisions of the Minnesota State Workers&#8217; Compensation and/or Disability Benefits Laws;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z7294dae5e9f14177b286133145da88a1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xxii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any other federal, state or local civil or human rights law or any other local, state or federal law, rule, regulation, code, guideline or ordinance, including but not
            limited to those relating to bias, whistleblower, discrimination, retaliation, compensation, employment or labor;</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="z3907cf873a694f74b3799df3be12d5e4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xxiii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any public policy, contract (oral or written, express or implied), tort, or common law; and/or</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zbdbcb0de014a4dfab9b56a0ddd2badad" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">xxiv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Any statute, common law, agreement or other basis for recovering any costs, fees, or other expenses, including attorneys&#8217; fees and/or costs.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z83d857761ccd4197b80b4626b64ac483" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This release does not modify or affect (a) Executive&#8217;s right to enforce the terms of this Agreement; (b) Executive&#8217;s right to receive an award from a &#8220;Government Agency&#8221;
            (as defined in Section 17 below) under its whistleblower program for reporting in good faith a possible violation of law to such Government Agency; (c) any vested rights and benefits that Executive may have under any applicable Company benefit
            or compensation plan; (d) any recovery to which Executive may be entitled pursuant to workers&#8217; compensation and unemployment insurance laws; (e) any rights under directors&#8217; and officers&#8217; liability insurance coverage or any right of
            indemnification under the Company&#8217;s organizational documents or otherwise; (f) Executive&#8217;s right to challenge the validity of this Agreement under the ADEA; (g) Executive&#8217;s right to payments or benefits described in Sections 6(c) and 4(d) of
            the Employment Agreement, subject to and in accordance with the terms thereof; (h) Executive&#8217;s rights with respect to any equity awards granted to Executive by the Company; (i) any rights that arise after the date Executive executes this
            Agreement; or (j) any right where a waiver is expressly prohibited by law.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zebb0a795c7ba4b87bd2f0ac647924286" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">c.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive understands and agrees that, with the exception of Executive&#8217;s right to receive an award from a Government Agency under its whistleblower program for reporting
            in good faith a possible violation of law to such Government Agency, Executive is not entitled to receive any money or other relief in connection with the claims Executive is releasing in this Agreement, regardless of who initiated or filed the
            charge or other proceeding.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zaf8e7cd759604d028dbb3ad17d6a61da" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive understands that this Agreement has to meet certain requirements to validly release any claims Executive might have under the ADEA (including under the Older
            Workers&#8217; Benefit Protection Act), and Executive represents that all such requirements have been satisfied, including that:</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z54529e938a1346049564d7047862f179" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">i.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Agreement is written in a manner that is understandable to Executive;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z17b76d456a4a484fa8795cd1c4a8c6ed" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">ii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive is specifically waiving ADEA rights;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zadf0a1c2607441ab9bc6b036e82d0b1f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iii.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive is not waiving ADEA rights arising after the date of Executive signing this Agreement;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zdf74ac49c2fb45fba4d3f8bb2cdd0de6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">iv.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive is receiving valuable consideration in exchange for execution of this Agreement that Executive would not otherwise be entitled to receive;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z2c69a449066144a7bbe35a1d61933f5a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">v.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Regis is hereby, in writing, encouraging Executive to consult with an attorney before signing this Agreement; and</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z33d8795b8b2a4b18b8aac4a6a2d9bf00" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 72pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">vi.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive received 21 days to consider this Agreement and at least 7 days to rescind it.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div>
    <div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="zae741c79052e4a2092e6486cc8adcc21" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 36pt;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">12.</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Notice of Right to Consider and Rescind Agreement</u></font>.&#160; Regis hereby advises
                Executive to consult with an attorney of Executive&#8217;s choice before signing this agreement releasing any rights or claims that Executive believes Executive may have under the ADEA.&#160; Once this Agreement is executed, Executive may rescind this
                Agreement within fifteen (15) calendar days to reinstate any claims under the ADEA.&#160; To be effective, any rescission within the relevant time period must be in writing and delivered to Regis, in care of the Company&#8217;s General Counsel, 3701
                Wayzata Blvd., Suite 500, Minneapolis, MN 55416, by hand or by mail within the fifteen (15) day period.&#160; If delivered by mail, the rescission must be (1) postmarked within the fifteen (15) day period; (2) properly addressed to Regis; and
                (3) sent by certified mail, return receipt requested.</div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z273b6998bf8141ea97c82e860dd94c8d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">13.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Compliance with the Minnesota Human Rights Act and Notice of Right to Consider and Rescind
                Agreement</u></font>.&#160; Regis hereby advises Executive to consult with an attorney of his choice before signing this Agreement releasing any rights or claims that Executive believes Executive may have under the Minnesota Human Rights Act
            (MHRA).&#160; Once this Agreement is executed, Executive may rescind this Agreement within fifteen (15) calendar days to reinstate any claims under the MHRA.&#160; To be effective, any rescission within the relevant time period must be in writing and
            delivered to the Company, in care of the Company&#8217;s General Counsel, 3701 Wayzata Blvd., Suite 500, Minneapolis, MN 55416 by hand or by mail within the fifteen (15) day period.&#160; If delivered by mail, the rescission must be (1) postmarked within
            the fifteen (15) day period; (2) properly addressed to the Company; and (3) sent by certified mail, return receipt requested.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zf7676d134d724ee186f9a908dca29afe" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">14.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Release Renewal</u></font>.&#160; As additional consideration for the Company&#8217;s obligations
            under this Agreement, Executive agrees to execute releases coextensive with the release provisions of this Agreement (1) on the Departure Date; and (2) within thirty days of the end of the Consulting Term.&#160; The Company will provide Executive
            with release agreements in advance of the Departure Date and the end of the Consulting Term.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z0240501df6a8426b8f3618baae0bb020" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">15.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Binding Nature of Agreement</u></font>.&#160; This Agreement is binding on the parties and
            their heirs, administrators, representatives, executors, successors, and assigns.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z7214d00ce68b4ce4993eeb6286644418" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">16.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>No Assignment</u></font>.&#160; Executive warrants that Executive has not assigned, transferred
            nor purported to assign or transfer any claim against Regis or the Released Parties, and that Executive will not assign or transfer nor purport to assign or transfer hereafter any claim against Regis or the Released Parties.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z71ed62a495e0476f998adfc97fa9f1c2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">17.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Protected Activities</u></font>.&#160; Executive and the Company each acknowledge and agree
            that nothing in this Agreement shall be applied to limit or interfere with Executive&#8217;s right, without notice to or authorization of the Company, to communicate and cooperate in good faith with a Government Agency for the purpose of (i)
            reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating in any investigation or proceeding that may be conducted or managed by any Government Agency, including by providing documents or other
            information, or (iii) filing a charge or complaint with a Government Agency. For purposes of this Agreement, &#8220;Government Agency&#8221; means the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and
            Health Administration, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or any other federal, state or local governmental agency or commission.&#160; Executive
            understands that Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state, or local government official, or to an
            attorney, solely for the purpose of reporting or investigating a suspected violation of law, (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or (c) in court proceedings if
            Executive files a lawsuit for retaliation by an employer for reporting a suspected violation of law, or to Executive&#8217;s attorney in such lawsuit, provided that Executive must file any document containing the trade secret under seal, and
            Executive may not disclose the trade secret, except pursuant to court order.&#160; However, Executive is not authorized to make any disclosures as to which the Company may assert protection from disclosure under the attorney-client privilege or the
            attorney work product doctrine, without prior written consent of the Company&#8217;s General Counsel or another authorized officer designated by the Company.&#160; The disclosures and actions protected in this Section 17 are referred to herein as
            &#8220;Protected Activities.&#8221;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zefeba6bd242743689645f6f908cb25a1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">18.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Severability</u></font>.&#160; The provisions of this Agreement are severable.&#160; If any
            provision (excluding the General Release above) is held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other provision.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zce1fa95b9a21458c9fa273b54ceeacd5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">19.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Section 409A</u></font>. The payments and benefits under this letter agreement are
            intended to comply with or be exempt from Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (collectively &#8220;Section 409A&#8221;), whether pursuant to the short-term deferral
            exception or otherwise, and, accordingly, to the maximum extent permitted, this letter agreement shall be interpreted to be exempt from Section 409A. All reimbursements for costs and expenses under this Agreement shall be paid in no event later
            than the end of the calendar year following the calendar year in which such expense is incurred.&#160; With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section
            409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursements or in-kind, benefits provided during any taxable year
            shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z7918cbe3aef14c31867466bc0cb863ac" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">20.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Entire Agreement</u></font>.&#160; Except to the extent that Executive has an arbitration
            agreement with Regis, this Agreement, Sections 4(d), 8, 9 (as modified by Section 7 of this Agreement), 10, and 11(l) of the Employment Agreement, and any applicable equity award agreements, set out the entire agreement between Executive and
            Regis and supersede any and all prior oral or written agreements or understandings between Executive and Regis concerning Executive&#8217;s termination of employment.&#160; Executive and the Company acknowledge and agree that any terms of the Employment
            Agreement that survive the Departure Date remain in full force and effect in accordance with the Employment Agreement.&#160; Any arbitration agreement that Executive has with Regis will continue in full force and effect.&#160; Furthermore, the Company
            retains any rights it might have under (A) Section 10(b) of the Employment Agreement; (B) any clawback policy in effect on the Employment Commencement Date; or (C) any law applicable to the Executive; to cease making and/or recover any benefits
            outlined in Section 4 above and/or recover shares of the Company&#8217;s stock delivered or deliverable in connection with the Initial Equity Award or amounts corresponding to the Initial Equity Award.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zacbe7f23f75a4a4aa0967ad774f468a5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">21.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Executive Representations</u></font>.&#160; Executive represents that he:</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z17ec0a982d9343bb8a8d1d98b96ecadc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">a.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">has the right and the Company has encouraged Executive to review all aspects of this Agreement with an attorney of Executive&#8217;s choice;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="za97afba4280c4183a9266052f216e11e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">b.</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">has had the opportunity to consult with an attorney of Executive&#8217;s choice and has either done so or freely chosen not to do so;</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z280609c244ab49a89f9f9eb3921a0bfb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
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          <td style="width: 33.33%; border-bottom: 2px solid rgb(0, 0, 0);"> /s/ Hugh Sawyer </td>
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            <div>&#160;9/4/2020</div>
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            <div>&#160;9/4/2020</div>
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          <td style="width: 33.33%;"> Title: Lead Director</td>
          <td style="width: 1%;" colspan="1">&#160;</td>
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  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Exhibit A</u></div>
  <div><br>
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  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">September __, 2020</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Regis Corporation</div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">3701 Wayzata Blvd., Suite 500</div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Minneapolis, MN 55416</div>
  <div><br>
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  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">To Board of Directors of Regis Corporation:</div>
  <div><br>
  </div>
  <div>
    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">I am writing to and do hereby resign from my positions as Chairman, President and
        CEO of Regis Corporation (the &#8220;Company&#8221;) and its Board of Directors pursuant to the terms of my April 2017 Employment Agreement and </font>effective as of the close of business on the day before the start date of the Company&#8217;s new CEO (&#8220;Departure
      Date&#8221;). I also resign from any and all other positions that I hold as an officer, manager, director, agent or in any other capacity of the Company and each of its affiliates, or as a trustee or fiduciary of any employee benefit plans covering
      employees or other service providers of the Company or any of its affiliates, effective as of the Departure Date.</div>
    <div><br>
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    <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">It has been a privilege to serve our constituents since 2017 and the millions of customers who utilize our services. I am proud of the progress made by our
      team during my tenure, including: i) accelerating our conversion to a franchise platform, ii) transforming our company with technology, iii) aligning support for the value salon sector and focusing on our core brands, iv) eliminating non-essential
      costs while reinvesting for a better future, v) upgrading our marketing and digital education efforts and vi) and successfully amending our revolving credit facility to provide the long-term flexibility needed to navigate the uncertainties caused by
      the pandemic.</div>
    <div><br>
    </div>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">I am grateful to my colleagues, franchise partners and stylists for the advice and support I have received during my time at Regis. Although we face a
    challenging external environment, we have extraordinarily talented partners and employees who are committed to finding the creative solutions that will fortify our long-term success. I look forward to working with our new CEO and the Board to
    facilitate a successful transition to a longer-term growth phase. I acknowledge and agree that my resignation from the Board of Directors of the Company is not because of a disagreement with the Company on any matter relating to the Company&#8217;s
    operations, policies or practices for purposes of the Company&#8217;s Form 8-K to be filed with the Securities and Exchange Commission.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Finally, after 44 years of work I am looking forward to retiring from active management and spending precious days with my family.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">To my colleagues, thank you and best wishes for health and happiness in the years ahead.</div>
  <div><br>
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      <tr>
        <td style="width: 33.33%; vertical-align: top;">&#160;</td>
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          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">With kind regards,</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.33%; vertical-align: top;">&#160;</td>
        <td style="width: 34%; vertical-align: top;">&#160;</td>
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      </tr>
      <tr>
        <td style="width: 33.33%; vertical-align: top;">&#160;</td>
        <td style="width: 34%; vertical-align: top;">&#160;</td>
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      </tr>
      <tr>
        <td style="width: 33.33%; vertical-align: top;">&#160;</td>
        <td style="width: 34%; vertical-align: top;">&#160;</td>
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      </tr>
      <tr>
        <td style="width: 33.33%; vertical-align: top;">&#160;</td>
        <td style="width: 34%; vertical-align: top;">&#160;</td>
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          <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Hugh Sawyer</div>
        </td>
      </tr>

  </table>
  <div><br>
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  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Exhibit B</u></div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Executive Advisor Consultative Advice and Support</u></div>
  <div><br>
  </div>
  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In accordance with Paragraph 4 hereof, during the Consulting Term, Executive shall work collaboratively with the new CEO and will be reasonably available in
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  <div><br>
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      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
        <td style="width: auto; vertical-align: top; text-align: justify;">
          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Provide reasonable access from time to time to the CEO and Board of Directors during the Consulting Term</div>
        </td>
      </tr>

  </table>
  <div><br>
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  <table cellspacing="0" cellpadding="0" id="zeddb650036944ec0807545dec0c2af6f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Work with the CEO to facilitate a smooth transition of duties.</div>
        </td>
      </tr>

  </table>
  <div><br>
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      <tr>
        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Work with the CEO to provide information, data or insight to facilitate the transition</div>
        </td>
      </tr>

  </table>
  <div><br>
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        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Communicate with key constituents, including, franchisees, clients, landlords, current and potential franchisees in connection with CEO transition.</div>
        </td>
      </tr>

  </table>
  <div><br>
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        <td style="width: 36pt;"><br>
        </td>
        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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          <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Provide an introduction to Walmart senior management</div>
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        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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            COVID-19 epidemic.</div>
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        <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>5
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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">
  <head>
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         Copyright 1995 - 2020 Broadridge -->
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<body bgcolor="#ffffff">
  <div style="text-align: right; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><font style="font-weight: bold;"> </font>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">Exhibit 99.1</font></div>
  <div style="text-align: left; margin-bottom: 10pt; font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><br>
  </div>
  <div style="margin-bottom: 10pt;"><img src="image001.jpg"></div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">REGIS CORPORATION ANNOUNCES LEADERSHIP TRANSITION</div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Hugh Sawyer to Retire; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Felipe Athayde </font>Named CEO and
    President</div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Daniel Beltzman Elected Chairman of the Board</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">MINNEAPOLIS &#8211; September 8, 2020 &#8211; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Regis Corporation (NYSE:RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating technology-enabled hair salons, today announced that
    </font>Hugh Sawyer, Chairman, President and Chief Executive Officer, will retire from active management and his current roles, effective October 5, 2020. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Felipe Athayde</font>,
    most recently <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">President, Americas of Popeyes Louisiana Kitchen</font>, owned by Restaurant Brands International, will succeed Mr. Sawyer as CEO and President and will join
    the Company&#8217;s Board of Directors. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Board has elected Daniel Beltzman, current Regis Director, to the role of Chairman of the Board, also effective upon Mr. Sawyer&#8217;s
      retirement. Mr. Sawyer will remain with Regis as an executive advisor through September 2021 to support the transition.</font></div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. Athayde brings nearly a decade of multi-brand and multi-unit experience, both domestically and internationally, a proven track record of franchise growth
    and success, and a deep understanding of the asset-light franchise model. Mr. Athayde has held positions of increasing responsibility at Restaurant Brands International, including senior management roles at Burger King, Tim Hortons and Popeyes, with
    expertise in strategy and brand development, finance, operations, marketing and sales.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Most recently, Mr. Athayde served as President, Americas of Popeyes Louisiana Kitchen, where he led the successful revitalization of the brand resulting in some
    of the largest all-time quarterly comparable store sales increases in the industry, as well as the recovery of Popeyes following the COVID-19 pandemic. Additionally, he oversaw one of the biggest product launches in the industry - the Popeyes Chicken
    Sandwich - and has a track record of developing high performance teams and implementing business-wide technology upgrades.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8220;Over the last three and a half years, Hugh developed and executed a transformational strategy that has positioned Regis for its next chapter of growth and
    development,&#8221; said Virginia Gambale, Regis&#8217; Lead Independent Director. &#8220;Under Hugh&#8217;s leadership, we have substantially completed our refranchising effort, invested in new technology, realigned our portfolio to focus on our core brands, upgraded our
    marketing and digital education programs, eliminated nonessential costs and successfully amended our revolving credit facility to provide the long-term flexibility needed to navigate the uncertainties caused by the COVID-19 pandemic. We are grateful
    for Hugh&#8217;s efforts and wish him all the best in his retirement after a successful 44-year career.&#8221;</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Ms. Gambale continued, &#8220;We are pleased to welcome Felipe to Regis as our next CEO and President following a comprehensive search process. With a proven track
    record of growing franchised businesses and a demonstrated ability to execute strategic change, Felipe is the ideal person to assume this role at a pivotal time for Regis. We look forward to an exciting next chapter of growth under <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Felipe&#8217;s </font>leadership.&#8221;</div>
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  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">"It has been a privilege to serve our constituents and the millions of customers who utilize our services,&#8221; said Mr. Sawyer. &#8220;I am proud of the progress made by
    our team during my tenure and confident Felipe will apply his years of franchise and brand leadership experience to enable Regis and our franchise partners to capitalize on the significant opportunities ahead. I look forward to working with him and the
    Board to facilitate a successful transition to a longer-term growth phase.&#8221;</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Athayde </font>said, &#8220;I have long known and admired Regis as a leader in the
    beauty space and I am honored to assume the role of CEO and President. With some of the most iconic brands in North America, a strong network of franchisees and innovative customer-facing technology, Regis is well positioned for growth, even in the
    current environment. I look forward to working closely with the senior management team, the Board and Regis&#8217; talented franchisees and employees to build on the Company&#8217;s momentum and further enhance the customer experience across Regis&#8217; brands.&#8221;</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Ms. Gambale concluded, &#8220;We are pleased that Daniel Beltzman is stepping into the Chairman role, reflecting the depth of talent on Regis&#8217; Board and our
    commitment to Regis&#8217; continued transformation. Daniel has been a valued member of our Board for the last eight years and his business experience and acumen make him the right person to assume this position.&#8221;</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">About Felipe Athayde</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Athayde most recently served in various leadership roles at Restaurant Brands
      International (RBI), holding titles of increasing responsibility for nearly a decade, including, President, Americas at Popeyes Louisiana Kitchen; President, Latin America and Caribbean at Burger King and President, Tim Hortons USA, among others. </font>Before


    joining RBI, Mr. Athayde worked as a Business Leader in the strategy department for Visa Inc. Latin America in Miami, FL, and as a bond trader for multiple financial institutions in the United States and Singapore.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Mr. Athayde holds a Master of Business Administration from Northwestern University&#8217;s Kellogg School of Management in Evanston, IL, and a Bachelor of Business
    Administration from Funda&#231;&#227;o Getulio Vargas (EAESP-FGV) in Sao Paulo, Brazil.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">About Regis Corporation</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Regis Corporation (NYSE:RGS) is a leader in beauty salons and cosmetology education. As of June 30, 2020, the Company franchised, owned or held ownership
    interests in 6,923 worldwide locations. Regis&#8217; franchised and corporate locations operate under concepts such as Supercuts&#174;, SmartStyle&#174;, Cost Cutters&#174;, Roosters&#174; and First Choice Haircutters&#174;. Regis maintains an ownership interest in Empire Education
    Group in the U.S. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website
    at www.regiscorp.com.</div>
  <div><br>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">REGIS CORPORATION</div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Kersten Zupfer</div>
  <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">investorrelations@regiscorp.com</div>
  <div><br>
  </div>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine1_lbl">Entity Address, Address Line One</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="EntityAddressAddressLine2" xlink:title="EntityAddressAddressLine2" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine2_lbl">Entity Address, Address Line Two</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="EntityAddressAddressLine3" xlink:title="EntityAddressAddressLine3" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine3_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine3_lbl">Entity Address, Address Line Three</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_AmendmentFlag_lbl" xml:lang="en-US" id="dei_AmendmentFlag_lbl">Amendment Flag</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CityAreaCode_lbl" xml:lang="en-US" id="dei_CityAreaCode_lbl">City Area Code</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US" id="dei_EntityAddressCityOrTown_lbl">Entity Address, City or Town</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCountry_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCountry_lbl" xml:lang="en-US" id="dei_EntityAddressCountry_lbl">Entity Address, Country</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" id="dei_DocumentPeriodEndDate_lbl">Document Period End Date</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US" id="dei_EntityIncorporationStateCountryCode_lbl">Entity Incorporation, State or Country Code</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber_lbl" xml:lang="en-US" id="dei_LocalPhoneNumber_lbl">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:title="label: LocalPhoneNumber to dei_LocalPhoneNumber_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US" id="dei_EntityAddressPostalZipCode_lbl">Entity Address, Postal Zip Code</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US" id="dei_EntityAddressStateOrProvince_lbl">Entity Address, State or Province</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:label xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_Security12bTitle_lbl" xml:lang="en-US" id="dei_Security12bTitle_lbl">Title of 12(b) Security</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="NoTradingSymbolFlag" xlink:title="NoTradingSymbolFlag" />
    <link:label xlink:type="resource" xlink:label="dei_NoTradingSymbolFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US" id="dei_NoTradingSymbolFlag_lbl">No Trading Symbol Flag</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_TradingSymbol_lbl" xml:lang="en-US" id="dei_TradingSymbol_lbl">Trading Symbol</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
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    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
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</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>rgs-20200904_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm139895349593528">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Sep. 04, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Sep.  04,  2020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">REGIS CORP<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MN<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-12725<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">41-0749934<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">3701 Wayzata Boulevard<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Minneapolis<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MN<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">55416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">952<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">947-7777<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000716643<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.05 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">RGS<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
