MoneyGram 2011 Annual Report Download - page 235

4. Miscellaneous.
a. No Duplication. Executive acknowledges and agrees that Executive shall not be entitled to receive any separation payments under any other
Company severance or similar policies.
b. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota, without regard
to conflicts of laws principles thereof, to the extent Minnesota laws are not preempted by the Employee Retirement Income Security Act of 1974.
c. Severance Pay Plan Statement. Subject to Section 5 hereof, this Agreement shall be administered and interpreted in accordance with the
MoneyGram International, Inc. Severance Pay Plan Statement.
d. Entire Agreement/Amendments. This Agreement and the other agreements, plans and documents referenced herein contain the entire
understanding of the parties with respect to the provision of any severance rights, payments or benefits by Company to Executive. If any provision of any
agreement, plan, program, policy, arrangement or other written document between or relating to the Company and Executive conflicts with any provision of
this Agreement, the provision of this Agreement shall control and prevail. This Agreement may not be altered, modified, or amended except by written
instrument signed by the parties hereto.
e. No Waiver. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a
waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.
f. Severability. In the event that any one or more of the provisions of this Agreement shall be or become invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby.
g. Survivorship. The respective rights and obligations of the parties hereunder shall survive any termination of Executive’s employment to the
extent necessary to preserve such rights and obligations.
h. Successors; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees.
i. Notice. For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall
be deemed to have been duly given when delivered by hand or overnight courier or three days after it has been mailed by United States registered mail,
return receipt requested, postage prepaid, addressed to the respective addresses set forth below in this Agreement, or to such other address as either party
may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt.
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