National Grid 2008 Annual Report Download - page 471

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 59188
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: 11
Description: EXH 4(C).9
0/2880.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/880/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 59188
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: 11 Description: EXH 4(C).9
0/2880.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/880/2*
- 10 -
11.9 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.
11.10 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.
11.11 As a condition to makin
g
the payments and providin
g
the benefits stated in this clause 11, 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.
11.12 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
Com
p
an
y
. 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 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 6 months (the “Garden
Leave Period”
)
. The
p
rovisions of this clause shall a
pp
l
y
to an
y
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