National Grid 2008 Annual Report Download - page 448

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 51126
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: 22
Description: EXH 4(C).8
0/3858.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/858/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 51126
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: 22 Description: EXH 4(C).8
0/3858.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/858/3*
21
20.6 The Company may withhold from any amounts payable under this A
g
reement any applicable withholdin
g
in respect of
federal, state, local or foreign taxes.
20.7 This A
g
reement supersedes any previous written or oral a
g
reement between the parties in relation to the matters dealt
with in it, includin
g
the KeySpan Employment A
g
reement (except with respect to the sections contained therein that are
specifically referenced herein and, where applicable, as modified herein). It contains the whole a
g
reement between the
parties relatin
g
to the Employment at the date the a
g
reement was entered into (except for those terms implied by law
which cannot be excluded by the a
g
reement of the parties). The Executive acknowled
g
es that he has not been induced
to enter into this A
g
reement by any representation, warranty or undertakin
g
not expressly incorporated into it. The
Executive a
g
rees and acknowled
g
es that his only ri
g
hts and remedies in relation to any representation, warranty or
undertakin
g
made or
g
iven in connection with this A
g
reement (unless such representation, warranty or undertakin
g
was
made fraudulently) will be for breach of the terms of this A
g
reement, to the exclusion of all other ri
g
hts and remedies
(
includin
g
those in tort or arisin
g
under statute
)
.
20.8 Neither party’s rights or powers under this Agreement will be affected if:
20.8.1 one
p
art
y
dela
y
s in enforcin
g
an
y
p
rovision of this A
g
reement; or
20.8.2 one party grants time to the other party.
20.9 References to an
y
statutor
y
p
rovisions include an
y
modifications or re-enactments of those
p
rovisions.
20.10 Headings will be ignored in construing this Agreement.
20.11 If either party a
g
rees to waive his or its ri
g
hts under a provision of this A
g
reement, that waiver will only be effective if it is
in writing and it is signed by him or it. A party’s a
g
reement to waive any breach of any term or condition of this
A
g
reement will not be re
g
arded as a waiver of any subsequent breach of the same term or condition or a different term
or condition.
20.12 This A
g
reement is in consideration of the mutual covenants contained in it. The parties hereto acknowled
g
e the receipt
and sufficiency of the consideration to this A
g
reement and intend this A
g
reement to be le
g
ally bindin
g
. This A
g
reement
shall not be construed more strictl
y
with re
g
ard to either
p
art
y
.
20.13 To the extent any reimbursements or in-kind benefits due to the Executive under this Agreement constitute “deferred
com
p
ensation” under section