Fred's, Inc. announced that Greg Froton’s employment as the Senior Vice President of Merchandising was terminated. Upon the execution of a separation agreement and general release, Mr. Froton will continue to receive his regular base salary through July 19, 2018, and he will receive severance of $540,000 payable over a 24-month period and other payments and reimbursements in accordance with the terms of the Froton Separation Agreement, including the immediate vesting of his restricted stock and options and the continuation of benefits in exchange for a general release of all claims against the company.