National Grid 2008 Annual Report Download - page 439

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 52406
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: 13
Description: EXH 4(C).8
0/3849.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/849/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 52406
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: 13 Description: EXH 4(C).8
0/3849.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/849/3*
12
accept his resi
g
nation, the Company may, at its absolute discretion, require the Executive to take a period of absence
called “garden leave” for a maximum period of time equal to the lesser of (a) 6 months or (b) the number of days until
the second anniversary of the KeySpan Merger Date (the “Garden Leave Period”). The provisions of this clause shall
apply to any Garden Leave Period.
12.2 The Company may require that the Executive will not, without prior written consent of the Board, be employed or
otherwise en
g
a
g
ed in the conduct of any activity, whether or not of a business nature durin
g
the Garden Leave Period.
Further, if so re
q
uested b
y
the Com
p
an
y
, the Executive will not:
12.2.1 enter or attend the premises of the Company or any other Group Company; or
12.2.2 contact or have any communication with any customer or client of the Company or any other Group Company
in relation to the business of the Com
p
an
y
or an
y
other Grou
p
Com
p
an
y
(
other than
p
urel
y
social contract
)
; or
12.2.3 contact or have any communication with any employee, officer, director, a
g
ent or consultant of the Parent or
an
y
other Grou
p
Com
p
an
y
in relation to the business of the Parent or an
y
other Grou
p
Com
p
an
y
; or
12.2.4 remain or become involved in any aspect of the business of the Parent or any other Group Company except
as re
q
uired b
y
such com
p
anies.
12.3 The Company may require the Executive:
12.3.1 to com
p
l
y
with the
p
rovisions of clause 15; and
12.3.2 to immediately resi
g
n from any directorship, trusteeships or other offices which he holds in the Parent, any
other Group Company or any other company where such directorship or other office is held as a
consequence or requirement of the Employment, unless he is required to perform duties to which any such
directorship, trusteeship or other office relates in which case he may retain such directorships, trusteeships or
other offices while those duties are on
g
oin
g
. The Executive hereby irrevocably appoints the Company to be
his attorney to execute any instrument and do anythin
g
in his name and on his behalf to effect his resi
g
nation
if he fails to do so in accordance with this clause 12.3.2.
12.4 Durin
g
the Garden Leave Period, the Executive will be entitled to receive his base salary and all contractual benefits
(excluding bonuses) in