National Grid 2008 Annual Report Download - page 469

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 14254
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.9, Doc: 10, Page: 9
Description: EXH 4(C).9
0/3878.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/878/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 14254
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-4.C.9, Doc: 10, Page: 9 Description: EXH 4(C).9
0/3878.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/878/3*
- 8 -
his name for the purpose of
g
ivin
g
the Company (or its nominee) the full benefit of the provision of clause 10 or the
Company’s entitlement under statute. If there is any doubt as to whether such a document (or other thin
g
) has been
carried out within the authority conferred by this clause 10.7, a certificate in writin
g
(si
g
ned by any director or the secretary
of the Company) will be sufficient to prove that the act or thing falls within that authority.
11 Termination and Sus
p
ension
11.1 The Employment will continue until terminated by either party giving written notice as set out in clause 11.2.
11.2 Either
p
art
y
ma
y
terminate the Em
p
lo
y
ment b
y
g
ivin
g
not less than 12 months’ written notice to the other.
11.3 Except as otherwise a
g
reed by the Executive and the Company, notwithstandin
g
the other provisions of this A
g
reement
and in particular clause 11.2, this Agreement will automatically terminate at the end of the Company’s fiscal year in which
the Executive’s 65th birthday occurs.
11.4 The Company may at its sole and absolute discretion pay base salary alone (as referred to in clause 7.1, at the rate in
force at the time such payment is made) in lieu of any unexpired period of notice (less any deductions the Company is
required by law to make). Any payment by the Company in lieu of any unexpired period of notice will be made as soon as
practicable and, in any event, completed within 2.5 months followin
g
the later of the end of the calendar year or the
Company fiscal year that occurs immediately followin
g
initial notice under clause 11.2. The Executive is not entitled to
participate in or benefit from any severance, termination or redundancy plan, pro
g
ram or arran
g
ement maintained by any
Group Company; for the avoidance of doubt, this is notwithstandin
g
anythin
g
to the contrary that may be contained in such
severance, termination or redundanc
y
p
lan,
p
ro
g
ram or arran
g
ement.
11.5 The Company may terminate the Employment by
g
ivin
g
written notice to take immediate effect whether or not the
Executive’s entitlement to sick pay, contractual or otherwise, has been exhausted if the Executive does not perform the
duties of the Employment for a period of 364 days (whether or not consecutive) in any period of 2 years. This notice can
be
g
iven whilst the Executive continues not to perform his duties or on expiration of the 364 day period. In this clause,
‘days’ includes Saturdays, Sundays and public holidays.