National Grid 2008 Annual Report Download - page 438

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13131
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.8, Doc: 9, Page: 12
Description: EXH 4(C).8
0/4848.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/848/4*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13131
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.8, Doc: 9, Page: 12 Description: EXH 4(C).8
0/4848.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/848/4*
11
to terminate the Employment or in the case of the Executive’s death), for the avoidance of doubt there is no obli
g
ation to
give notice as set out in clause 11.1 or any other period of notice or to make any payment in lieu of notice.
11.7 The Executive will have no claim for dama
g
es or any other remedy a
g
ainst the Company if the Employment is
terminated for any of the reasons set out in clause 11.4 or 11.5.
11.8 When the Employment terminates the Company may deduct from any money due to the Executive (includin
g
remuneration) any amount which he owes to any Group Company.
11.9 The Company may suspend the Executive from the Employment on full base salary at any time, and for any reason for
a reasonable period to investi
g
ate any matter in which the Executive is implicated or involved (whether directly or
indirectly) and to conduct any related disciplinary proceedin
g
s and such suspension shall not entitle the Executive to
claim that he has been constructively dismissed.
11.10 As a condition to makin
g
the payments and providin
g
the benefits stated in this clause 11 (or in clause 12.5 below), the
Company may require the Executive to execute and deliver a
g
eneral release in which he (i) releases all claims that he
may have in respect of his employment a
g
ainst any Group Company and any of their respective past or present
officers, directors or employees other than his ri
g
hts under this A
g
reement or another a
g
reement into which he and the
Company subsequently enter and (ii) covenants that he has not filed and will not file any civil action, suit, arbitration,
administrative char
g
e, or le
g
al
p
roceedin
g
a
g
ainst an
y
of the released
p
arties in res
p
ect of the released claims.
11.11 Unless the Group waives this requirement, the termination of the Employment for any reason will constitute the
Executive’s resi
g
nation from (1) any director, officer or employee position he then has with any Group Company and
(2) all fiduciary positions (includin
g
as trustee) he holds with respect to any pension plans or trusts established by any
Group Company. The Executive a
g
rees that this A
g
reement will serve as his written notice of resi
g
nation in this
circumstance.
12 Garden Leave
12.1 Neither the Company nor any Group Company is under any obli
g
ation to provide the Executive with any work. At any
time after notice to terminate the Employment is
g
iven by either party under clause 11 above, or if the Executive resi
g
ns
without
g
ivin
g
due notice and the Company does not