Document:

EXHIBIT 10.2

 

[FORM OF
CHIEF EXECUTIVE OFFICER AGREEMENT]

 

AMENDED &
RESTATED

CHANGE OF
CONTROL SEVERANCE AGREEMENT

 

This Change of
Control Severance Agreement (the “Agreement”) is entered into this          day of                         , 2008 (the “Effective
Date”) between                               
(“Executive”) and Agilent Technologies, Inc., a Delaware corporation
(the “Company”).  This Agreement
supersedes and replaces all prior agreements and understandings on the matters
set forth herein, including but not limited to the Change of Control Severance
Agreement dated                        ,
200       (as further amended on                        , 2004 and on                        , 2005) between
Executive and the Company.  This
Agreement is intended to provide Executive with the compensation and benefits
described herein upon the occurrence of specific events following a change of
control of the ownership of the Company (defined as “Change of Control”).

 

RECITALS

 

A.            As is the case
with most, if not all, publicly-traded businesses, it is expected that the
Company from time to time may consider or may be presented with the need to
consider the possibility of an acquisition by another company or other change
in control of the ownership of the Company. 
The Board of Directors of the Company (the “Board”) recognizes that such
considerations can be a distraction to Executive and can cause the Executive to
consider alternative employment opportunities or to be influenced by the impact
of a possible change in control of the ownership of the Company on Executive’s
personal circumstances in evaluating such possibilities.  The Board has determined that it is in the
best interests of the Company and its shareholders to assure that the Company
will have the continued dedication and objectivity of Executive,
notwithstanding the possibility, threat or occurrence of a Change of Control of
the Company.

 

B.            The Board believes
that it is in the best interests of the Company and its shareholders to provide
Executive with an incentive to continue his or her employment and to motivate
Executive to maximize the value of the Company upon a Change of Control for the
benefit of its shareholders.

 

C.            The Board believes
that it is important to provide Executive with certain benefits upon Executive’s
termination of employment in certain instances upon or following a Change of
Control that provide Executive with enhanced financial security and incentive
and encouragement to Executive to remain with the Company notwithstanding the possibility
of a Change of Control.

 

D.            At the same time, the
Board expects the Company to receive certain benefits in exchange for providing
Executive with this measure of financial security and incentive under the
Agreement.  Therefore, the Board believes
that the Executive should provide various specific commitments which are
intended to assure the Company that Executive will not direct 

 

1

 

Executive’s skills, experience
and knowledge to the detriment of the Company for a period not to exceed the
period during which payments are being made to Executive under this Agreement.

 

E.             Certain
capitalized terms used in this Agreement are defined in Article VII.

 

The Company and Executive hereby agree as
follows:

 

ARTICLE I.

EMPLOYMENT BY THE COMPANY

 

1.1          Executive is currently employed as
Chief Executive Officer of the Company.

 

1.2          Executive shall be entitled to the
rights and benefits  of this Agreement
and this Agreement may not be terminated, except as otherwise provided in Section 4.5,
if Executive is the CEO of the Company on the date of the occurrence of any
event set forth in Section 2.1(a) or Section 2.2(a) hereof
(the “Section 1.2 Date.”) The rights and obligations of the parties hereto
contained in Articles III through VIII shall survive any termination for the
longer of (i) thirty-six (36) months following a Termination Event (as
hereinafter defined) (the “Term”) or (ii) such longer period provided for
in this Agreement.

 

1.3          The Company and Executive each
agree and acknowledge that Executive is employed by the Company as an “at-will”
employee and that either Executive or the Company has the right at any time to
terminate or to change Executive’s employment with the Company, including a
change to a position that is no longer the Chief Executive Officer, with or
without cause or advance notice, for any reason or for no reason.  The Company and Executive wish to set forth
the compensation and benefits which Executive shall be entitled to receive in
the event that Executive’s employment with the Company terminates under the
circumstances described in Article II of this Agreement.

 

1.4          The duties and obligations of the
Company to Executive under this Agreement shall be in consideration for
Executive’s past services to the Company, Executive’s continued employment with
the Company, Executive’s compliance with the obligations described in Section 4.2,
and Executive’s execution of the general waiver and release described in Section 4.3.  The Company and Executive agree that
Executive’s compliance with the obligations described in Section 4.2 and
Executive’s execution of the general waiver and release described in Section 4.3
are preconditions to Executive’s entitlement to the receipt of benefits under
this Agreement and that these benefits shall not be earned unless all such
conditions have been satisfied through the scheduled date of payment.  The Company hereby declares that it has
relied upon Executive’s commitments under this Agreement to comply with the
requirements of Article IV, and would not have been induced to enter into
this Agreement or to execute this Agreement in the absence of such commitments.

 

2

 

ARTICLE II.

TERMINATION EVENTS

 

2.1                               Involuntary
Termination Upon or Following Change of Control.

 

(a)                                  In the event Executive’s employment
with the Company and its subsidiaries is involuntarily terminated at any time
by the Company without Cause either (i) at the time of or within
twenty-four (24) months following the occurrence of a Change of Control, (ii) within
three (3) months prior to a Change of Control, whether or not such
termination is at the request of an “Acquiror”, or (iii) at any time prior
to a Change of Control, if such termination is at the request of an Acquiror,
then, upon such Change of Control,  such
termination of employment will be a Termination Event and the Company shall pay
Executive the compensation and benefits described in  and at the times provided under Article III.   For all purposes of this Agreement the term “Acquiror”
is either a person or a member of a group of related persons representing such
group that in either case obtains effective control of the Company in the
transaction or a group of related transactions constituting the Change of
Control.

 

(b)                                 In the event Executive’s employment
with the Company and its subsidiaries is either involuntarily terminated by the
Company with Cause at any time, or is involuntarily terminated by the Company
without Cause at any time other than under the circumstances described in Section 2.1(a),
then such termination of employment will not
be a Termination Event, Executive will not be
entitled to receive any payments or benefits under the provisions of this
Agreement, and the Company will cease paying compensation or providing benefits
to Executive as of Executive’s termination date.

 

2.2                               Voluntary
Termination Upon or Following Change of Control.

 

(a)                                  Executive may voluntarily terminate
his employment with the Company and its subsidiaries at any time.  In the event Executive voluntarily terminates
his employment within three (3) months of the occurrence of an event
constituting Good Reason and on account of an event constituting Good Reason,
which event occurs either (i) at the time of or within twenty-four (24)
months following the occurrence of a Change of Control, (ii) within three (3) months
prior to a Change of Control, whether or not such termination is at the request
of an “Acquiror”, or (iii) at any time prior to a Change of Control, if
such triggering event or Executive’s termination is at the request of an
Acquiror, then, upon such Change of Control, 
such termination of employment will be a Termination Event and the
Company shall pay Executive the compensation and benefits described in and at
the times provided under Article III.

 

(b)                                 In the event (i) Executive
voluntarily terminates his employment for any reason other than on account of
an event constituting Good Reason under the circumstances described in Section 2.2(a),
or (ii) Executive’s employment terminates on account of either death or
physical or mental disability, then such termination of employment will not be a Termination Event, Executive will
not be entitled to receive any
payments or benefits under the provisions of this Agreement, and the Company
will cease paying compensation or providing benefits to Executive as of the
Executive’s termination date.

 

3

 

ARTICLE III.

COMPENSATION AND BENEFITS PAYABLE

 

3.1          Right to Benefits. 
If a Termination Event occurs, Executive shall be entitled to receive
the benefits described in this Agreement so long as Executive complies with the
restrictions and limitations set forth in Article IV; provided, further,
that the Executive must execute the employee Release (as described in Section 4.3)
and the time period for revocation of such Release must have elapsed (an “Effective
Release”), within sixty (60) days of the Termination Event, which Release shall
remain in effect at the time that the benefits of this Article III are
paid.  If a Termination Event does not
occur, Executive shall not be entitled to receive any benefits described in
this Agreement, except as otherwise specifically set forth herein.

 

3.2          Salary
Continuation.  Upon the occurrence of a Termination Event,
Executive shall receive three times the sum of Executive’s Base Salary plus
Target Bonus, less any applicable withholding of federal, state or local
taxes.  Amounts to be paid under this
section shall be paid in a lump sum no later than the later of thirty (30) days
after the date of the Termination Event or the date of an Effective Release.

 

3.3          Health Insurance
Coverage.

 

Upon the
occurrence of a Termination Event, Executive shall be entitled to receive a
payment equal to Eighty-Thousand U.S. Dollars ($80,000) (the “Health Expense
Benefit”).  The purpose of the Health
Expense Benefit is to assist Executive with health¬care expenses, including
additional health plan premium payments that may result from the occurrence of
a Termination Event.  Amounts to be paid
under this section shall be paid in a lump sum no later than the later of
thirty (30) days after the date of the Termination Event or the date of an
Effective Release.

 

This Section 3.3 provides only for the
Company’s payment of the Health Expense Benefit. 
This Section 3.3 does not affect the rights of Executive or
Executive’s covered dependents under any applicable law with respect to health
insurance continuation coverage.

 

3.4          Stock Award
Acceleration.  Executive’s stock options which are
outstanding as of the date of the Termination Event (the “Stock Options”) shall
become fully vested upon the occurrence of the Termination Event and
exercisable so long as Executive complies with the restrictions and limitations
set forth in Article IV.  The
maximum period of time during which the Stock Options shall remain exercisable,
and all other terms and conditions of the Stock Options, shall be as specified
in the relevant Stock Option agreements and relevant stock plans under which the
Stock Option were granted.  The term “Stock
Options” shall not include any rights of the Executive under the Company’s
employee stock purchase plan.

 

Executive’s restricted stock awards that are outstanding as of the date
of the Termination Event (“Restricted Stock”) and that are not subject to
performance-based vesting shall become fully vested and free from any
contractual rights of the Company to repurchase or otherwise reacquire the
Restricted Stock as a result of Executive’s termination of employment.  All shares of Restricted Stock which have not
yet been delivered to Executive or his designee 

 

4

 

(whether because subject to joint escrow instructions or otherwise)
shall be delivered to Executive or his designee as soon as administratively
feasible after the occurrence of a Termination Event.  Executive’s restricted stock awards that are
subject to performance-based vesting shall be covered by the terms of the applicable
award agreement.

 

The treatment of Executive’s
other awards, if any, outstanding under the 1999 Stock Plan of the Company, or
any successor plan thereto (together the “Stock Plan”), at the time of the
Termination Event shall be governed by the respective award agreement.
 This includes but is not limited to restricted stock units, awards under
the long-term performance program, and includes awards made pursuant to the
Stock Plan which may be settled in cash.

 

3.5          Bonus.   If a Termination Event occurs, Executive shall receive a pro-rated
bonus under any bonus plan applicable to Executive, which is in place at the
time of the Termination Event for the performance period in which the
Termination Event occurs.  The amount of
the bonus shall be calculated under the terms of such bonus program as
established by the Company, including whether or not, or to what degree any
performance-based conditions have been met, and shall be equal to the amount of
the bonus the Executive would have been paid under the terms of such bonus
programs had the Executive continued his employment with the Company until the
end of such performance period multiplied by a fraction in which (i) the
numerator is the number of days from and including the first day of the
performance period until and including the date of the Termination Event, and (ii) the
denominator is the number of days in the performance period.  Such bonus shall be paid on the date
Executive would have received the bonus if the Termination Event had not
occurred during such performance period; provided, however, that in any event
such bonus will be paid no later than two and one-half (2 1⁄2) months after the
end of the calendar year in which the Termination Event occurs.  Executive’s rights to the payment provided in
this Section 3.5 shall not be terminated by the application of Section 4.2
of this Agreement.  This Section 3.5
shall not apply to awards pursuant to the Stock Plan.

 

3.6          Mitigation. 
Except as otherwise specifically provided herein, Executive shall not be
required to mitigate damages or the amount of any payment provided under this
Agreement by seeking other employment or otherwise, nor shall the amount of any
payment provided for under this Agreement be reduced by any compensation earned
by Executive as a result of employment by another employer or by retirement
benefits after the date of the Termination Event, or otherwise.

 

3.7          Compliance with Section 409A.  In the event that (i) one or more
payments of compensation or benefits received or to be received by Executive
pursuant to this Agreement (“Agreement Payment”) would constitute deferred
compensation subject to Section 409A of the Internal Revenue Code of 1986,
as amended (the “Code”) and (ii) Executive is deemed at the time of such
termination of employment to be a “specified employee” under Section 409A(a)(2)(B)(i) of
the Code, then such Agreement Payment shall not be made or commence until the
earlier of (i) the expiration of the six (6)-month period measured from
the date of Executive’s “separation from service” (as such term is at the time
defined in Treasury Regulations under Section 409A of the Code) with the
Company or (ii) such earlier time permitted under Section 409A of the
Code and the regulations or other authority promulgated thereunder; provided,
however, that such deferral shall only be effected to the extent required to
avoid adverse tax treatment to Executive under Section 409A of the Code,
including (without limitation) the additional twenty percent (20%) tax for
which Executive would otherwise be 

 

5

 

liable under Section 409A(a)(1)(B) of
the Code in the absence of such deferral. 
During any period in which an Agreement Payment to Executive is deferred
pursuant to the foregoing, Executive shall be entitled to interest on the deferred
Agreement Payment at a per annum rate equal to the highest rate of interest
applicable to six (6)-month non-callable certificates of deposit with daily
compounding offered by the following institutions: Citibank N.A., Wells Fargo
Bank, N.A. or Bank of America, on the date of such separation from
service.  Upon the expiration of the
applicable deferral period, any Agreement Payment which would have otherwise
been made during that period (whether in a single sum or in installments) in
the absence of this paragraph shall be paid to Executive or his beneficiary in
one lump sum, including all accrued interest.

 

ARTICLE IV.

LIMITATIONS AND CONDITIONS ON BENEFITS; AMENDMENT OF AGREEMENT

 

4.1          Reduction in
Payments and Benefits; Withholding Taxes.  The benefits provided
under this Agreement are in lieu of any benefit provided under any other
severance plan, program or arrangement of the Company in effect at the time of
a Termination Event.  The Company shall
withhold appropriate federal, state or local income, employment and other
applicable taxes from any payments hereunder.

 

4.2          Obligations of the
Executive.

 

(a)           For two years following the Termination Event, Executive agrees
not to personally solicit any of the employees either of the Company or of any
entity in which the Company directly or indirectly possesses the ability to
determine the voting of 50% or more of the voting securities of such entity
(including two-party joint ventures in which each party possesses 50% of the
total voting power of the entity) to become employed elsewhere or provide the
names of such employees to any other company which Executive has reason to
believe will solicit such employees.

 

(b)           Following the occurrence of a Termination Event, Executive agrees
to continue to satisfy his obligations under the terms of the Company’s
standard form of Proprietary Information and Non-Disclosure Agreement
previously executed by Executive (or any comparable agreement subsequently
executed by Executive in substitution or supplement thereto).  Executive’s obligations under this Section 4.2(b) shall
not be limited to the Term.

 

(c)           It is expressly understood and agreed that although Executive and
the Company consider the restrictions contained in this Section 4 to be
reasonable, if a final judicial determination is made by a court of competent
jurisdiction that the time or territory or any other restriction contained in
this Agreement is an unenforceable restriction against Executive, the
provisions of this Agreement shall not be rendered void, but shall be deemed
amended to apply as to such maximum time or territory and to such maximum
extent as such court may judicially determine or indicate to be
enforceable.  Alternatively, if any court
of competent jurisdiction finds that any restriction contained in this
Agreement is unenforceable, and such restriction cannot be amended so as to
make it enforceable, such finding shall not affect the enforceability of any of
the other restrictions contained herein.

 

6

 

(d)           Executive acknowledges and agrees that the Company’s remedies at
law for a breach or threatened breach of any of the provisions of Section 4.2(a) or
Section 4.2(b) would be inadequate and, in recognition of this fact,
Executive agrees that, in the event of such a breach or threatened breach, in
addition to any remedies at law, the Company, without posting any bond, shall,
with respect to a breach or threatened breach of Section 4.2(a) or Section 4.2(b) only,
obtain equitable relief in the form of specific performance, temporary
restraining order, temporary or permanent injunction, or any other equitable
remedy which may then be available.

 

4.3          Employee Release Prior to Receipt
of Benefits.  Upon the occurrence of a
Termination Event, and prior to the receipt of any benefits under this
Agreement on account of the occurrence of a Termination Event, Executive shall,
as of the date of a Termination Event, execute an employee release
substantially in the form attached hereto as Exhibit A (“Release”) as
shall be determined by the Company.  Such
employee Release shall specifically relate to all of Executive’s rights and
claims in existence at the time of such execution relating to Executive’s
employment with the Company, but shall not include (i) Executive’s rights
under this Agreement; (ii) Executive’s rights under any employee benefit
plan sponsored by the Company; or (iii) Executive’s rights to
indemnification under the Company’s bylaws or other governing instruments or
under any agreement addressing such subject matter between Executive and the
Company or under any merger or acquisition agreement addressing such subject
matter; (iv) Executive’s rights of insurance under any liability policy
covering the Company’s officers or (v) claims which Executive may not Release
as a matter of law, including, but not limited to, indemnification claims under
applicable law.  It is understood that
Executive has twenty-one (21) days after receipt of the form of Release from
the Company to consider whether to execute such employee Release and Executive
may revoke such employee In the event that the Executive has not received a
form of Release from the Company by the tenth (10th) day following the
Termination Event, the Executive may execute the form of Release attached
hereto as Exhibit A and that shall be deemed acceptable to the
Company.  Release within seven
(7) days after execution of such employee release.  In the event Executive does not execute such
employee Release within the twenty-one (21) day period, or if Executive revokes
such employee Release within the seven (7)  day period, no benefits shall
be payable under this Agreement and this Agreement shall be null and void.  Nothing in this Agreement shall limit the
scope or time of applicability of such employee Release once it is executed and
not timely revoked.

 

4.4          Golden Parachute
Payments.  In the event that
any payment received or to be received by Executive pursuant to this Agreement
or otherwise but determined without regard to any additional payments required
under this Section 4.4 (“Payment”), would be subject to the excise tax
imposed by Section 4999 of the Code, or any comparable federal, state,
local or foreign excise tax (such excise tax, together with any interest and
penalties, is hereinafter collectively referred to as the “Excise Tax”), then
Executive shall be entitled to receive an additional payment from the Company (“Gross-Up
Payment”) in such an amount that after the payment of all taxes (including,
without limitation, any interest and penalties on such taxes and the Excise
Tax) on the Payment and on the Gross-Up Payment, Executive shall retain an
amount equal to the Payment minus all applicable taxes on the Payment
(excluding the Excise Tax).  The intent
of the parties is that the Company shall be solely responsible for, and shall
pay, any Excise Tax on the Payment and Gross-Up Payment and any income,
employment and other taxes
(including, without limitation, penalties and interest) imposed on any Gross-Up
Payment (as well 

 

7

 

as any loss of tax deduction caused by the Payment or the Gross-Up
Payment).  Unless the Company and
Executive otherwise agree in writing, all determinations required to be made
under this Section 4.4 and the assumptions to be utilized in arriving at
such determinations shall be made in writing in good faith by independent tax
counsel designated by the Company and reasonably acceptable to Executive (“Independent
Tax Counsel”).  For purposes of making
the calculations required by this Section 4.4, Independent Tax Counsel may
make reasonable assumptions and approximations concerning applicable taxes and
may rely on reasonable, good faith interpretations concerning the application
of Sections 280G and 4999 of the Code. 
The Company and Executive shall furnish to Independent Tax Counsel such
information and documents as Independent Tax Counsel may reasonably request in
order to make a determination under this Section 4.4.  The Company shall bear all costs that
Independent Tax Counsel may reasonably incur in connection with any
calculations contemplated by this Section 4.4.   Any Gross-up Payments pursuant to this Section 4.4
shall be paid not later than the end of the taxable year following the taxable
year in which the determination under this Section 4.4 was made.

 

4.5          Amendment or
Termination of This Agreement.  The Company may make
amendments to this Agreement without the consent of the Executive which are non-material
and which are not adverse to the Executive to the extent necessary or advisable
to comply with laws.  Any other changes
to or, terminations of this
Agreement may be made only upon the mutual written consent of the Company and
Executive; provided, however, that only prior to the  Section 1.2 Date, the Company may
unilaterally terminate this Agreement following eighteen (18) months’ prior
written notice to Executive and on or following the Section 1.2 Date, this
Agreement may not be terminated.  If the
Company makes any changes to this Agreement pursuant to the first sentence of
this Section 4.5 it shall provide prompt written notice and a copy of such
change to the Executive.

 

ARTICLE V.

OTHER RIGHTS AND BENEFITS NOT AFFECTED

 

5.1          Nonexclusivity. 
Nothing in the Agreement shall prevent or limit Executive’s continuing
or future participation in any benefit, bonus, incentive or other plans,
programs, policies or practices provided by the Company and for which Executive
may otherwise qualify, nor shall anything herein limit or otherwise affect such
rights as Executive may have under any stock option or other agreements with
the Company; provided, however, that in accordance with Section 4.1,
any benefits provided hereunder shall be in lieu of any other severance
benefits to which Executive may otherwise be entitled, including without
limitation, under any employment contract or severance plan.  Except as otherwise expressly provided
herein, amounts which are vested benefits or which Executive is otherwise
entitled to receive under any plan, policy, practice or program of the Company at
or subsequent to the date of a Termination Event shall be payable in accordance
with such plan, policy, practice or program.

 

5.2          Employment Status. 
This Agreement does not constitute a contract of employment or impose on
Executive any obligation to remain as an employee, or impose on the Company any
obligation (i) to retain Executive as an employee, (ii) to change the
status of Executive as an at-will employee, or (iii) to change the Company’s
policies regarding termination or alteration of employment.

 

8

 

ARTICLE VI.

NON-ALIENATION OF BENEFITS

 

No benefit hereunder shall be subject to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or
charge, and any attempt to do so shall be void.

 

ARTICLE VII.

DEFINITIONS

 

For purposes of the Agreement, the following
terms shall have the meanings set forth below:

 

7.1          “Agreement”
means this Change of Control Severance Agreement.

 

7.2          “Base
Salary” means Executive’s annual salary (excluding bonus, any other
incentive or other payments and stock option exercises) from the Company at the
time of the occurrence of the Change of Control or a Termination Event,
whichever is greater.

 

7.3          “Cause”
means misconduct, including but not limited to: (i) conviction of any
felony or any crime involving moral turpitude or dishonesty which has a
material adverse effect on the Company’s business or reputation; (ii) repeated
unexplained or unjustified absences from the Company; (iii) refusal or
willful failure to act in accordance with any specific lawful direction or
order of the Company or stated written policy of the Company which has a
material adverse effect on the Company’s business or reputation; (iv) a
material and willful violation of any state or federal law which if made public
would materially injure the business or reputation of the Company as reasonably
determined by the Board; (v) participation in a fraud or act of dishonesty
against the Company which has a material adverse effect on the Company’s business
or reputation; (vi) conduct by Executive which the Board determines
demonstrates gross unfitness to serve; or (vii) intentional, material
violation by Executive of any contract between Executive and the Company or any
statutory duty of Executive to the Company that is not corrected within thirty
(30) days after written notice to Executive thereof.  Whether or not the actions or omissions of
Executive constitute “Cause” within the meaning of this Section 7.3 shall
be decided by the Board based upon a reasonable good faith investigation and
determination.  Physical or mental
disability shall not constitute “Cause.”

 

7.4          “Change
of Control” means the occurrence of any of the following events:

 

(i)            The sale, exchange, lease or other
disposition or transfer of all or substantially all of the consolidated assets
of the Company to a person or group (as such terms are defined or described in
Sections 3(a) (9) and 13(d) (3) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) which will continue the business
of the Company in the future; or

 

(ii)           A merger or consolidation involving the Company in which the
shareholders of the Company immediately prior to such merger or consolidation
are not the beneficial owners (within the meaning of Rules 13d-3 and 13d-5
promulgated under the Exchange Act) of more than 75% of the total voting power
of the outstanding voting securities of 

 

9

 

the corporation resulting from such transaction in substantially the same
proportion as their ownership of the total voting power of the outstanding
voting securities of the Company immediately prior to such merger or
consolidation; or

 

(iii)          The acquisition of beneficial
ownership (within the meaning of Rules 13d-3 and 13d-5 promulgated under
the Exchange Act) of at least 25% of the total voting power of the outstanding
voting securities of the Company by a person or group (as such terms are
defined or described in Sections 3(a) (9) and 13(d) (3) of
the Exchange Act).

 

7.5          “Company”
means Agilent Technologies, Inc., a Delaware corporation, and any
successor thereto.

 

7.6          “Good
Reason” means (i) a more than $10,000 reduction of Executive’s
rate of compensation as in effect immediately prior to the Effective Date of
this Agreement or in effect immediately prior to the occurrence of a Change of
Control, whichever is greater, other than reductions in Base Salary that apply
broadly to employees of the Company or reductions due to varying metrics and
achievement of performance goals for different periods under variable pay
programs; (ii) either (A) failure to provide a package of benefits
which, taken as a whole, provides substantially similar benefits to those in
which the Executive is entitled to participate immediately prior to the
occurrence of the Change of Control (except that employee contributions may be
raised to the extent of any cost increases imposed by third parties) or (B) any
action by the Company which would significantly and adversely affect Executive’s
participation or reduce Executive’s benefits under any of such plans in
existence the day prior to the Change of Control, other than changes that apply
broadly to employees of the Company; (iii) change in Executive’s duties,
responsibilities, authority, job title, or reporting relationships resulting in
a significant diminution of position, excluding for this purpose an isolated,
insubstantial and inadvertent action not taken in bad faith which is remedied
by the Company within thirty (30) days after notice thereof is given by
Executive; (iv) request that Executive relocate to a worksite that is more
than 35 miles from his prior worksite, unless Executive accepts such relocation
opportunity; (v) failure or refusal of a successor to the Company to
assume the Company’s obligations under this Agreement, as provided in Section 8.7;
or (vi) material breach by the Company or any successor to the Company of
any of the material provisions of this Agreement.  For purposes of clause (iii) of the
immediately preceding sentence, Executive’s duties, responsibilities,
authority, job title or reporting relationships shall not be considered to be
significantly diminished (and therefore shall not constitute “Good Reason”) so
long as Executive continues to perform substantially the same functional role
for the Company as Executive performed immediately prior to the occurrence of
the Change of Control, even if the Company becomes a subsidiary or division of
another entity.

 

7.7          “Target Bonus”
means that amount (expressed as a percentage of Executive’s Base Salary) equal
to Executive’s “target bonus” as defined under the Company’s Performance-Based
Compensation Plan for Covered Employees (or the comparable term or standard
under the Company’s cash incentive plan in effect at the time of Executive’s
Termination Event if the Performance-Based Compensation Plan for Covered
Employees is no longer in effect at such time) as set for the Executive by the
Compensation Committee of the Board of Directors or other authorized body,
covering the twelve-month period ending at the end of the performance period
during which the Executive’s Termination Event occurs.

 

10

 

7.8          “Termination Event” means an involuntary
termination of employment described in Section 2.1(a) or a voluntary
termination of employment described in Section 2.2(a).

 

7.9          Termination of employment for purposes of this Agreement
means a separation from service within the meaning of Treasury Regulation §
1.409A-1(h).  The Executive shall not be
deemed to have separated from service if the Executive continues to provide
services to the Company at an annual rate that is fifty percent or more of the
services rendered, on average, during the immediately preceding three full
years of employment with the Company (or if employed by the Company less than
three years, such lesser period); provided, however, that a separation from
service will be deemed to have occurred if the Executive service with the
Company is reduced to an annual rate that is less than twenty percent of the
services rendered, on average, during the immediately preceding three full
years of employment with the Company (or if employed by the Company less than
three years, such lesser period). For purposes of this Section 7.9 only
and for determining whether a Executive has experienced a separation from
service, the “Company” shall mean the Company and its affiliates that are
treated as a single employer under section 414(b) or (c) of the Code.

 

ARTICLE VIII.

GENERAL PROVISIONS

 

8.1          Notices.  Any
notices provided hereunder must be in writing and such notices or any other
written communication shall be deemed effective upon the earlier of personal delivery
(including personal delivery by telex or facsimile) or the third day after
mailing by first class mail, to the Company at its primary office location and
to Executive at Executive’s address as listed in the Company’s payroll
records.  Any payments made by the
Company to Executive under the terms of this Agreement shall be delivered to
Executive either in person or at such address as listed in the Company’s
payroll records.

 

8.2          Severability.  It is
the intent of the parties to this Agreement that whenever possible, each
provision of this Agreement will be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this
Agreement is held to be invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provisions had
never been contained herein.

 

8.3          Waiver.  If
either party should waive any breach of any provisions of this Agreement, that
party shall not thereby be deemed to have waived any preceding or succeeding
breach of the same or any other provision of this Agreement.

 

8.4          Complete Agreement.  This
Agreement, including Exhibit A, constitutes the entire agreement between
Executive and the Company and it is the complete, final, and exclusive
embodiment of their agreement with regard to this subject matter.  It is entered into without reliance on any
promise or representation other than those expressly contained herein.

 

11

 

8.5          Counterparts.  This
Agreement may be executed in separate counterparts, any one of which need not
contain signatures of more than one party, but all of which taken together will
constitute one and the same Agreement.

 

8.6          Headings.  The
headings of the Articles and Sections hereof are inserted for convenience only
and shall neither be deemed to constitute a part hereof nor to affect the
meaning thereof.

 

8.7          Successors and Assigns.  This
Agreement is intended to bind and inure to the benefit of and be enforceable by
Executive and the Company, and their respective successors, assigns, heirs,
executors and administrators, except that Executive may not delegate any of
Executive’s duties hereunder and may not assign any of Executive’s rights
hereunder without the written consent of the Company, which consent shall not
be withheld unreasonably.  Any successor
to the Company (whether direct or indirect and whether by purchase, merger,
consolidation, liquidation or otherwise) to all or substantially all of the
Company’s business and/or assets shall assume the Company’s obligations under
this Agreement in the same manner and to the same extent as the Company would
be required to perform such obligations in the absence of a succession.  For all purposes under this Agreement, the
term “Company” shall include any successor to the Company’s business and/or
assets, whether or not such successor executes and delivers an assumption
agreement referred to in the preceding sentence or becomes bound by the terms
of this Agreement by operation of law or otherwise.

 

8.8          Attorney Fees.  If
either party hereto brings any action to enforce such party’s rights hereunder,
the prevailing party in any such action shall be entitled to recover such party’s
reasonable attorneys’ fees and costs incurred in connection with such action.

 

8.9          Arbitration.  In
order to ensure rapid and economical resolution of any dispute which may arise
under this Agreement, Executive and the Company agree that any and all disputes
or controversies, arising from or regarding the interpretation, performance,
enforcement or termination of this Agreement shall submitted to JAMS for
non-binding mediation.  If complete
agreement cannot be reached within 60 days after the date of submission to
mediation, any remaining issues will be submitted to JAMS to be resolved by
final and binding arbitration under the JAMS Arbitration Rules and
Procedures for Employment Disputes.  The
reference to JAMS shall refer to any successor to JAMS, if applicable.  BY ENTERING
INTO THIS AGREEMENT, THE COMPANY AND EXECUTIVE ACKNOWLEDGE THAT THEY ARE
WAIVING THEIR RIGHT TO JURY TRIAL OF ANY DISPUTE COVERED BY THIS AGREEMENT.

 

8.10        Choice of Law.  All
questions concerning the construction, validity and interpretation of this
Agreement will be governed by the law of the State of California.

 

8.11        Construction of Agreement.  In the
event of a conflict between the text of the Agreement and any summary,
description or other information regarding the Agreement, the text of the
Agreement shall control.

 

12

 

IN WITNESS WHEREOF, the parties have executed
this Agreement effective on the day and year written above.

 

	
  Agilent
  Technologies, Inc., 

  a
  Delaware corporation

  	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  

 

 

Exhibit A: Employee General
Release

 

13

 

CONFIDENTIAL

 

Exhibit A

 

GENERAL
RELEASE AND AGREEMENT

 

This General Release and Agreement (the “Agreement”)
is made and entered into by (“Executive”). 
The Agreement is part of an agreement between Executive and Agilent
Technologies, Inc. (“Agilent’) to terminate Executive’s employment with
Agilent on terms that are satisfactory both to Agilent and to Executive.  Therefore, Executive agrees as follows:

 

1.                    Executive agrees to attend a Functional Exit Interview on
                        ,
20     at which time all company property and identification
will be turned in and the appropriate personnel documents will be
executed.  Thereafter, Executive agrees
to do such other acts as may be reasonably requested by Agilent in order to
effectuate the terms of this agreement. 
Executive agrees to remove all personal effects from his current office
within seven days of signing this agreement and in any event not later than
                      ,
20    .

 

2.                    Executive agrees not to make any public statement or statements to
the press concerning Agilent, its business objectives, its management
practices, or other sensitive information without first receiving Agilent’s
written approval.  Executive further
agrees to take no action which would cause Agilent or its employees or agents
any embarrassment or humiliation or otherwise cause or contribute to Agilent’s
or any such person’s being held in disrepute by the general public or Agilent’s
employees, clients, or customers.

 

3.                    Executive, on behalf of Executive’s heirs, estate, executors,
administrators, successors and assigns does fully release, discharge, and agree
to hold harmless Agilent, its officers, agents, employees, attorneys, subsidiaries,
affiliated companies, successors and assigns from all actions, causes of
action, claims, judgments, obligations, damages, liabilities, costs, or expense
of whatsoever kind and character which he may have, including but not limited to;

 

a.                    any claims relating to employment discrimination on account of
race, sex, age, national origin, creed, disability, or other basis, whether or
not arising under the Federal Civil Rights Acts, the Age Discrimination in
Employment Act, California Fair Employment and Housing Act, the Rehabilitation
Act of 1973, the Americans With Disabilities Act, any amendments to the
foregoing laws, or any other federal, state, county, municipal, or other law,
statute, regulation or order relating to employment discrimination;

 

b.                   any claims relating to pay or leave of absence arising under the
Fair Labor Standards Act, the Family Medical Leave Act, and any similar laws
enacted in California;

 

c.                    any claims for reemployment, salary, wages, bonuses, vacation pay,
stock options, acquired rights, appreciation from stock options, stock
appreciation rights, benefits or other compensation of any kind;

 

1

 

d.                   any claims relating to, arising out of, or connected with
Executive’s employment with Agilent, whether or not the same be based upon any
alleged violation of public policy; compliance (or lack thereof) with any
internal Agilent policy, procedure, practice or guideline; or any oral,
written. express, and/or implied employment contract or agreement, or the
breach of any terms thereof, including but not limited to, any implied covenant
of good faith and fair dealing; or any federal, state, county or municipal law,
statute, regulation, or order whether or not relating to labor or employment; and

 

e.                    any claims relating to, arising out of, or connected with any
other matter or event occurring prior to the execution of this Agreement
whether or not brought before any judicial, administrative, or other tribunal.

 

The foregoing release shall not apply to (i) Executive’s
rights under the Amended and Restated Change of Control Severance Agreement
between Executive and the Company; (ii) Executive’s rights under any
employee benefit plan sponsored by the Company; (iii) Executive’s rights
to indemnification under the Company’s bylaws or other governing instruments or
under any agreement addressing such subject matter between Executive and the
Company or under any merger or acquisition agreement addressing such subject
matter; (iv) Executive’s rights of insurance under any liability policy
covering the Company’s officers or (v) claims which Executive may not
release as a matter of law, including, but not limited to, indemnification
claims under applicable law.

 

4.                    Executive represents and warrants that Executive has not assigned
any such claim or authorized any other person or entity to assert such claim on
Executive’s behalf.  Further, Executive
agrees that under this Agreement Executive waives any claim for damages
incurred at any time in the future because of alleged continuing effects of
past wrongful conduct involving any such claims and any right to sue for
injunctive relief against the alleged continuing effects of past wrongful
conduct involving such claims.

 

5.                    In entering into this Agreement, the parties have intended that
this Agreement be a full and final settlement of all matters, whether or not
presently disputed, that could have arisen between them.

 

6.                    Executive understands and expressly agrees that
this Agreement extends to all claims of every nature and kind whatsoever, known
or unknown, suspected or unsuspected, past or present and all rights under Section 1542
of the California Civil Code and/or any similar statute or law or any other
jurisdiction are hereby expressly waived. 
Such section reads as follows:

 

“Section 1542.  A general release does not extend to claims
which the creditor does not know or suspect to exist in his favor at the time
of executing the release, which if known by him must have materially affected
his settlement with the debtor.”

 

2

 

7.                    It is expressly agreed that the claims released pursuant to this
Agreement include all claims against individual employees of Agilent, whether
or not such employees were acting within the course and scope of their
employment.

 

8.                    Executive understands and agrees that, as a condition of this
Agreement, Executive shall not be entitled to any employment (including
employment as an independent contractor or otherwise) with Agilent, its
subsidiaries or related companies, or any successor, and Executive hereby
waives any right, or alleged right, of employment or re-employment with
Agilent.  Executive further agrees not to
apply for employment with Agilent in the future and not to institute or join
any action, lawsuit or proceeding against Agilent, its subsidiaries, related
companies or successors for any failure to employ Executive.  In the event Executive should secure such
employment, it is agreed that such employment is voidable without cause in the sole
discretion of Agilent.  After terminating
Executive’s employment, should Executive become employed by another company
which Agilent merges with or acquires after the date of this Agreement,
Executive may continue such employment only if Agilent makes offers of
employment to all employees of the acquired or merged company.

 

9.                    Executive agrees that the terms, amount and fact of settlement
shall be confidential until Agilent Technologies needs to make any required
disclosure of any agreements between Agilent and Executive.  Therefore, except as may be necessary to
enforce the rights contained herein in an appropriate legal proceeding or as
may be necessary to receive professional services from, an attorney, accountant,
or other professional adviser in order for such adviser to render professional
services, Executive agrees not to disclose any information concerning these
arrangements to anyone, including, but not limited to, past, present and future
employees of Agilent, until such time of the public filings.

 

10.              At Agilent’s request, Executive shall cooperate fully in
connection with any legal matter, proceeding or action relating to Agilent.

 

11.              The terms of this Agreement are intended by the parties as a final
expression of their agreement with respect to such terms as are included in
this Agreement and may not be contradicted by evidence of any prior or
contemporaneous agreement.  The parties
further intend that this Agreement constitutes the complete and exclusive
statement of its terms and that no extrinsic evidence whatsoever may be
introduced in any judicial or other proceeding, if any, involving this
Agreement.  No modification of this
Agreement shall be effective unless in writing and signed by both parties hereto.

 

12.              It is further expressly agreed and understood that Executive has
not relied upon any advice from Agilent Technologies, Inc. and/or its
attorneys whatsoever as to the taxability, whether pursuant to federal, state,
or local income tax statutes or regulations or otherwise, of the payments made
hereunder and that Executive will be solely liable for all tax obligations, if
any, arising from payment of the sums specified herein and shall hold Agilent
Technologies, Inc. harmless from any tax obligations arising from said
payment.

 

3

 

13.              If there is any dispute arising out of or related to this
Agreement, which cannot be settled by good faith negotiation between the
parties, such dispute will be submitted to JAMS for non-binding mediation.  If complete agreement cannot be reached
within 60 days of submission to mediation, any remaining issues will be
submitted to JAMS for final and binding arbitration pursuant to JAMS
Arbitration Rules and Procedures for Employment Disputes.  The reference to JAMS shall refer to any
successor to JAMS, if applicable.  BY ENTERING INTO THIS AGREEMENT, EXECUTIVE
ACKNOWLEDGES THAT EXECUTIVE IS WAIVING EXECUTIVE’S RIGHT TO JURY TRIAL OF ANY
DISPUTE COVERED BY THIS AGREEMENT.

 

4

 

14.            The following notice is provided in accordance
with the provisions of Federal Law:

 

You have up to twenty-one days (21) days
from the date this General Release and Agreement is given to you in which to
accept its terms, although you may accept it any time within those twenty-one
(21) days.  You are advised to consult
with an attorney regarding this Agreement. 
You have the right to revoke your acceptance of this Agreement at any
time within seven (7) days from the date you sign it, and this Agreement
will not become effective and enforceable until this seven (7) day
revocation period has expired.  To revoke
your acceptance, you must send a written notice of revocation to Agilent
Technologies, Inc., Attention: Senior Vice President and General Counsel
located at 5301 Stevens Creek Boulevard, MS 1A-11, Santa Clara, CA 95051 by
5:00 p.m. on or before the seventh day after you sign this Agreement.

 

EXECUTIVE
FURTHER STATES THAT EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT WITH THE
ATTORNEY OF EXECUTIVE’S CHOICE, THAT EXECUTIVE HAS CAREFULLY READ THIS
AGREEMENT, THAT EXECUTIVE HAS HAD AMPLE TIME TO REFLECT UPON AND CONSIDER ITS
CONSEQUENCES, THAT EXECUTIVE FULLY UNDERSTANDS ITS FINAL AND BINDING EFFECT,
THAT THE ONLY PROMISES MADE TO EXECUTIVE TO SIGN THIS AGREEMENT ARE THOSE
STATED ABOVE OR IN THAT CHANGE OF CONTROL SEVERANCE AGREEMENT BETWEEN AGILENT
AND EXECUTIVE, AND THAT EXECUTIVE IS SIGNING THIS AGREEMENT VOLUNTARILY.

 

IN WITNESS WHEREOF, this Agreement has
been executed in duplicate originals on the date indicated below, and shall
become effective as indicated above.

 

 

	
  EXECUTIVE

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
  Name:
  

  	
   

  	
   

  
	
   

  	
   

  
	
  Date:

  	
   

  	
   

  
					

 

5EXHIBIT 10.3

 

[FORM OF SECTION 16 OFFICER AGREEMENT]

 

AMENDED & RESTATED

CHANGE OF CONTROL SEVERANCE AGREEMENT

 

This Change of
Control Severance Agreement (the “Agreement”) is entered into this            day of                           , 2008 (the “Effective
Date”) between                                     
(“Executive”) and Agilent Technologies, Inc., a Delaware corporation
(the “Company”).  This Agreement
supersedes and replaces all prior agreements and understandings on the matters
set forth herein, including but not limited to the Change of Control Severance
Agreement dated                        ,
200       (as further amended on                        , 2004 and on                        , 2005) between
Executive and the Company.  This
Agreement is intended to provide Executive with the compensation and benefits
described herein upon the occurrence of specific events following a change of
control of the ownership of the Company (defined as “Change of Control”).

 

RECITALS

 

A.            As is the case
with most, if not all, publicly-traded businesses, it is expected that the
Company from time to time may consider or may be presented with the need to
consider the possibility of an acquisition by another company or other change
in control of the ownership of the Company. 
The Board of Directors of the Company (the “Board”) recognizes that such
considerations can be a distraction to Executive and can cause the Executive to
consider alternative employment opportunities or to be influenced by the impact
of a possible change in control of the ownership of the Company on Executive’s
personal circumstances in evaluating such possibilities.  The Board has determined that it is in the
best interests of the Company and its shareholders to assure that the Company
will have the continued dedication and objectivity of Executive,
notwithstanding the possibility, threat or occurrence of a Change of Control of
the Company.

 

B.            The Board believes
that it is in the best interests of the Company and its shareholders to provide
Executive with an incentive to continue his or her employment and to motivate
Executive to maximize the value of the Company upon a Change of Control for the
benefit of its shareholders.

 

C.            The Board believes
that it is important to provide Executive with certain benefits upon Executive’s
termination of employment in certain instances upon or following a Change of
Control that provide Executive with enhanced financial security and incentive
and encouragement to Executive to remain with the Company notwithstanding the
possibility of a Change of Control.

 

D.            At the same time,
the Board expects the Company to receive certain benefits in exchange for
providing Executive with this measure of financial security and incentive under
the Agreement.  Therefore, the Board believes
that the Executive should provide various specific commitments which are
intended to assure the Company that Executive will not direct 

 

1

 

Executive’s skills, experience
and knowledge to the detriment of the Company for a period not to exceed the
period during which payments are being made to Executive under this Agreement.

 

E.             Certain
capitalized terms used in this Agreement are defined in Article VII.

 

The Company
and Executive hereby agree as follows:

 

ARTICLE I.

 

EMPLOYMENT BY THE COMPANY

 

1.1          Executive is currently employed as
                                                                    of
the Company and has been named a Section 16 officer of the Company.

 

1.2          Executive shall be entitled to the
rights and benefits  of this Agreement
and this Agreement may not be terminated, except as otherwise provided in Section 4.5,
if Executive is a Section 16 officer on the date of the occurrence of any
event set forth in Section 2.1(a) or Section 2.2(a) hereof
(the “Section 1.2 Date.”) The rights and obligations of the parties hereto
contained in Articles III through VIII shall survive any termination of this
Agreement for the longer of (i) twenty-four (24) months following a
Termination Event (as hereinafter defined) (the “Term”) or (ii) such
longer period provided for in this Agreement.

 

1.3          The Company and Executive each
agree and acknowledge that Executive is employed by the Company as an “at-will”
employee and that either Executive or the Company has the right at any time to
terminate or to change Executive’s employment with the Company, or to determine
that Executive is no longer a Section 16 officer of the Company regardless
of the continued employment of the Executive with or without cause or advance
notice, for any reason or for no reason. 
The Company and Executive wish to set forth the compensation and
benefits which Executive shall be entitled to receive in the event that
Executive’s employment with the Company terminates under the circumstances
described in Article II of this Agreement.

 

1.4          The duties and obligations of the
Company to Executive under this Agreement shall be in consideration for
Executive’s past services to the Company, Executive’s continued employment with
the Company, Executive’s compliance with the obligations described in Section 4.2,
and Executive’s execution of the general waiver and release described in Section 4.3.   The Company and Executive agree that
Executive’s compliance with the obligations described in Section 4.2 and
Executive’s execution of the general waiver and release described in Section 4.3
are preconditions to Executive’s entitlement to the receipt of benefits under
this Agreement and that these benefits shall not be earned unless all such
conditions have been satisfied through the scheduled date of payment.  The Company hereby declares that it has
relied upon Executive’s commitments under this Agreement to comply with the
requirements of Article IV, and would not have been induced to enter into
this Agreement or to execute this Agreement in the absence of such commitments.

 

2

 

ARTICLE II.

 

TERMINATION EVENTS

 

2.1                               Involuntary
Termination Upon or Following Change of Control.

 

(a)                                  In the event Executive’s employment
with the Company and its subsidiaries is involuntarily terminated at any time
by the Company without Cause either (i) at the time of or within
twenty-four (24) months following the occurrence of a Change of Control, (ii) within
three (3) months prior to a Change of Control, whether or not such
termination is at the request of an “Acquiror”, or (iii) at any time prior
to a Change of Control, if such termination is at the request of an Acquiror,
then, upon such Change of Control, such termination of employment will be a
Termination Event and the Company shall pay Executive the compensation and
benefits described in and at the times provided under Article III.  For all purposes of this Agreement the term “Acquiror”  is either a person or a member of a group of related
persons representing such group that in either case obtains effective control
of the Company in the transaction or a group of related transactions
constituting the Change of Control.

 

(b)                                 In the event Executive’s employment
with the Company and its subsidiaries is either involuntarily terminated by the
Company with Cause at any time, or is involuntarily terminated by the Company
without Cause at any time other than under the circumstances described in Section 2.1(a),
then such termination of employment will not
be a Termination Event, Executive will not be
entitled to receive any payments or benefits under the provisions of this
Agreement, and the Company will cease paying compensation or providing benefits
to Executive as of Executive’s termination date.

 

2.2                               Voluntary
Termination Upon or Following Change of Control.

 

(a)                                  Executive may voluntarily terminate
his employment with the Company and its subsidiaries at any time.  In the event Executive voluntarily terminates
his employment within three (3) months of the occurrence of an event
constituting Good Reason and on account of an event constituting Good Reason,
which event occurs either (i) at the time of or within twenty-four (24)
months following the occurrence of a Change of Control, (ii) within three (3) months
prior to a Change of Control, whether or not such termination is at the request
of an “Acquiror”, or (iii) at any time prior to a Change of Control, if
such triggering event or Executive’s termination is at the request of an
Acquiror, then, upon such Change of Control, such termination of employment
will be a Termination Event and the Company shall pay Executive the
compensation and benefits described in and at the times provided under Article III.

 

(b)                                 In the event (i) Executive
voluntarily terminates his employment for any reason other than on account of
an event constituting Good Reason under the circumstances described in Section 2.2(a),
or (ii) Executive’s employment terminates on account of either death or
physical or mental disability, then such termination of employment will not be a Termination Event, Executive will
not be entitled to receive any
payments or benefits under the provisions of this Agreement, and the Company
will cease paying compensation or providing benefits to Executive as of the
Executive’s termination date.

 

3

 

ARTICLE III.

 

COMPENSATION AND BENEFITS PAYABLE

 

3.1          Right to Benefits. 
If a Termination Event occurs, Executive shall be entitled to receive
the benefits described in this Agreement so long as Executive complies with the
restrictions and limitations set forth in Article IV; provided, further,
that the Executive must execute the employee Release (as defined in Section 4.3);
and the time period for revocation of such Release must have elapsed (an “Effective
Release”) within sixty (60) days of the Termination Event which Release shall
remain in effect at the time that the benefits of this Article III are
paid.  If a Termination Event does not
occur, Executive shall not be entitled to receive any benefits described in
this Agreement, except as otherwise specifically set forth herein.

 

3.2          Salary
Continuation.  Upon the occurrence of a Termination Event,
Executive shall receive two times the sum of Executive’s Base Salary plus
Target Bonus, less any applicable withholding of federal, state or local
taxes.  Amounts to be paid under this
section shall be paid in a lump sum no later than the later of thirty (30) days
after the date of the Termination Event or the date of an Effective Release.

 

3.3          Health Insurance
Coverage.

 

Upon the occurrence of a
Termination Event, Executive shall be entitled to receive a payment equal to
Eighty-Thousand U.S. Dollars ($80,000) (the “Health Expense Benefit”).  The purpose of the Health Expense Benefit is
to assist Executive with healthcare expenses, including additional health plan
premium payments that may result from the occurrence of a Termination
Event.  Amounts to be paid under this
section shall be paid in a lump sum no later than thirty (30) days after the
date of the Termination Event or the date of an Effective Release.

 

This Section 3.3
provides only for the Company’s payment of the Health Expense Benefit.  This Section 3.3 does not affect the
rights of Executive or Executive’s covered dependents under any applicable law
with respect to health insurance continuation coverage.

 

3.4          Stock Award
Acceleration.  Executive’s stock options which are
outstanding as of the date of the Termination Event (the “Stock Options”) shall
become fully vested upon the occurrence of the Termination Event and
exercisable so long as Executive complies with the restrictions and limitations
set forth in Article IV.  The
maximum period of time during which the Stock Options shall remain exercisable,
and all other terms and conditions of the Stock Options, shall be as specified
in the relevant Stock Option agreements and relevant stock plans under which
the Stock Option were granted.  The term “Stock
Options” shall not include any rights of the Executive under the Company’s
employee stock purchase plan.

 

Executive’s restricted stock awards that are
outstanding as of the date of the Termination Event (“Restricted Stock”) and
that are not subject to performance-based vesting shall become fully vested and
free from any contractual rights of the Company to repurchase or otherwise
reacquire the Restricted Stock as a result of Executive’s termination of
employment.  All shares of Restricted
Stock which have not yet been delivered to Executive or his designee (whether
because subject to joint escrow instructions or otherwise) shall be delivered
to Executive or his designee as soon as administratively feasible after the
occurrence of a Termination Event.

 

4

 

Executive’s restricted stock
awards that are subject to performance-based vesting shall be covered by the
terms of the applicable award agreement.

 

The treatment
of Executive’s other awards, if any, outstanding under the 1999 Stock Plan of
the Company, or any successor plan thereto (together the “Stock Plan”), at the
time of the Termination Event shall be governed by the respective award
agreement.  This includes but is not limited to restricted stock units,
awards under the long-term performance program, and includes awards made
pursuant to the Stock Plan which may be settled in cash.

 

3.5          Bonus. 
If a Termination Event occurs, Executive shall receive a pro-rated bonus
under any bonus plan applicable to Executive, which is in place at the time of
the Termination Event for the performance period in which the Termination Event
occurs.  The amount of the bonus shall be
calculated under the terms of such bonus program as established by the Company,
including  whether or not, or to what
degree, any performance-based conditions have been met, and shall be equal to
the amount of the bonus the Executive would have been paid under the terms of
such bonus program had the Executive continued his employment with the Company
until the end of such performance period multiplied by a fraction in which (i) the
numerator is the number of days from and including the first day of the
performance period until and including the date of the Termination Event, and (ii) the
denominator is the number of days in the performance period.  Such bonus shall be paid on the date
Executive would have received the bonus if the Termination Event had not
occurred during such performance period; provided, however, that in any event
such bonus will be paid no later than two and one-half (2 1⁄2) months after the end
of the calendar year in which the Termination Event occurs.  Executive’s rights to the payment provided in
this Section 3.5 shall not be terminated by the application of Section 4.2
of this Agreement.  This Section 3.5
shall not apply to awards pursuant to the Stock Plan.

 

3.6          Mitigation. 
Except as otherwise specifically provided herein, Executive shall not be
required to mitigate damages or the amount of any payment provided under this
Agreement by seeking other employment or otherwise, nor shall the amount of any
payment provided for under this Agreement be reduced by any compensation earned
by Executive as a result of employment by another employer or by retirement
benefits after the date of the Termination Event, or otherwise.

 

3.7          Compliance with Section 409A.  In the event that (i) one or more
payments of compensation or benefits received or to be received by Executive
pursuant to this Agreement (“Agreement Payment”) would constitute deferred
compensation subject to Section 409A of the Internal Revenue Code of 1986,
as amended (the “Code”) and (ii) Executive is deemed at the time of such
termination of employment to be a “specified employee” under Section 409A(a)(2)(B)(i) of
the Code, then such Agreement Payment shall not be made or commence until the
earlier of (i) the expiration of the six (6)-month period measured from
the date of Executive’s “separation from service” (as such term is at the time
defined in Treasury Regulations under Section 409A of the Code) with the
Company or (ii) such earlier time permitted under Section 409A of the
Code and the regulations or other authority promulgated thereunder; provided,
however, that such deferral shall only be effected to the extent required to
avoid adverse tax treatment to Executive under Section 409A of the Code,
including (without limitation) the additional twenty percent (20%) tax for
which Executive would otherwise be liable under Section 409A(a)(1)(B) of
the Code in the absence of such deferral. 
During any period in which an Agreement Payment to Executive is deferred
pursuant to the foregoing, 

 

5

 

Executive shall be entitled to
interest on the deferred Agreement Payment at a per annum rate equal to the
highest rate of interest applicable to six (6)-month non-callable certificates
of deposit with daily compounding offered by the following institutions:
Citibank N.A., Wells Fargo Bank, N.A. or Bank of America, on the date of such
separation from service. Upon the expiration of the applicable deferral period,
any Agreement Payment which would have otherwise been made during that period
(whether in a single sum or in installments) in the absence of this paragraph
shall be paid to Executive or his beneficiary in one lump sum, including all
accrued interest.

 

ARTICLE IV.

 

LIMITATIONS AND CONDITIONS ON BENEFITS;
AMENDMENT OF AGREEMENT

 

4.1          Reduction in
Payments and Benefits; Withholding Taxes.  The benefits provided
under this Agreement are in lieu of any benefit provided under any other
severance plan, program or arrangement of the Company in effect at the time of
a Termination Event.  The Company shall
withhold appropriate federal, state or local income, employment and other
applicable taxes from any payments hereunder.

 

4.2                               Obligations of the
Executive.

 

(a)                                  For two years following the
Termination Event, Executive agrees not to personally solicit any of the
employees either of the Company or of any entity in which the Company directly
or indirectly possesses the ability to determine the voting of 50% or more of
the voting securities of such entity (including two-party joint ventures in
which each party possesses 50% of the total voting power of the entity) to
become employed elsewhere or provide the names of such employees to any other
company which Executive has reason to believe will solicit such employees.

 

(b)                                 Following the occurrence of a
Termination Event, Executive agrees to continue to satisfy his obligations
under the terms of the Company’s standard form of Proprietary Information and
Non-Disclosure Agreement previously executed by Executive (or any comparable
agreement subsequently executed by Executive in substitution or supplement
thereto).  Executive’s obligations under
this Section 4.2(b) shall not be limited to the Term.

 

(c)                                  It is expressly understood and
agreed that although Executive and the Company consider the restrictions
contained in this Section 4 to be reasonable, if a final judicial
determination is made by a court of competent jurisdiction that the time or
territory or any other restriction contained in this Agreement is an
unenforceable restriction against Executive, the provisions of this Agreement
shall not be rendered void, but shall be deemed amended to apply as to such
maximum time or territory and to such maximum extent as such court may
judicially determine or indicate to be enforceable.  Alternatively, if any court of competent
jurisdiction finds that any restriction contained in this Agreement is
unenforceable, and such restriction cannot be amended so as to make it
enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein.

 

(d)                                 Executive acknowledges and agrees
that the Company’s remedies at law for a breach or threatened breach of any of
the provisions of Section 4.2(a) or Section 4.2(b) 

 

6

 

would be inadequate and, in recognition of this fact, Executive agrees
that, in the event of such a breach or threatened breach, in addition to any
remedies at law, the Company, without posting any bond, shall, with respect to
a breach or threatened breach of Section 4.2(a) or Section 4.2(b) only,
obtain equitable relief in the form of specific performance, temporary
restraining order, temporary or permanent injunction, or any other equitable remedy
which may then be available.

 

4.3          Employee Release
Prior to Receipt of Benefits.  Upon the occurrence of a
Termination Event, and prior to the receipt of any benefits under this
Agreement on account of the occurrence of a Termination Event, Executive shall,
as of the date of a Termination Event, execute an employee release
substantially in the form attached hereto as Exhibit A (“Release”) as
shall be determined by the Company.  Such
employee Release shall specifically relate to all of Executive’s rights and
claims in existence at the time of such execution relating to Executive’s
employment with the Company, but shall not include (i) Executive’s rights
under this Agreement; (ii) Executive’s rights under any employee benefit
plan sponsored by the Company; or (iii) Executive’s rights to
indemnification under the Company’s bylaws or other governing instruments or
under any agreement addressing such subject matter between Executive and the
Company or under any merger or acquisition agreement addressing such subject
matter; (iv) Executive’s rights of insurance under any liability policy
covering the Company’s officers or (v) claims which Executive may not
Release as a matter of law, including, but not limited to, indemnification
claims under applicable law.  It is
understood that Executive has twenty-one (21) days after receipt of the form of
Release from the Company to consider whether to execute such employee Release
and Executive may revoke such employee Release within seven (7) days after
execution of such employee Release.  In
the event that the Executive has not received a form of Release from the
Company by the tenth (10th) day following the Termination Event, the
Executive may execute the form of Release attached hereto as Exhibit A and
that shall be deemed acceptable to the Company.   In the event Executive does not execute such employee Release
within the twenty-one (21) day period, or if Executive revokes such employee
Release within the seven (7) day period, no benefits shall be payable
under this Agreement and this Agreement shall be null and void.  Nothing in this Agreement shall limit the
scope or time of applicability of such employee Release once it is executed and
not timely revoked.

 

4.4                               Golden Parachute
Payments.

 

(a)                                  In the event that any payment
received or to be received by Executive pursuant to this Agreement or otherwise
but determined without regard to any additional payments required under this Section 4.4
(“Payment”) would (i) constitute a “parachute payment” within the meaning
of Section 280G of the Code and (ii) but for this subsection (a), be
subject to the excise tax imposed by Section 4999 of the Code, or any
comparable federal, state, local or foreign excise tax (such excise tax,
together with any interest and penalties, is hereinafter collectively referred
to as the “Excise Tax”), then, subject to the provisions of subsection (c) hereof,
Executive shall be entitled to receive an additional payment from the Company
(the “Gross-Up Payment”) in such an amount that after the payment of all taxes
(including without limitation, any interest and penalties on such taxes and the
Excise Tax) on the Payment and on the Gross-Up Payment, Executive shall retain
an amount equal to the Payment minus all applicable taxes on the Payment
(excluding the Excise Tax). 
Notwithstanding the foregoing, Executive shall not be entitled to
receive a Gross-Up Payment if (1) the Payments may be reduced by an amount
sufficient to result in no portion of the Payment retained by Executive 

 

7

 

being subject to the Excise Tax (“Reduced Amount”), taking into account
all applicable federal, state, local and foreign income, employment and other
taxes and (2) after reducing the Payment by such Reduced Amount, Executive
would receive, on a pre-tax basis, an amount not less than ninety percent (90%)
of the value of the unreduced Payment on a pre-tax basis (the “Threshold
Payment Level”).  The intent of the
parties is that if Executive is entitled to a Gross-Up Payment pursuant to this
Section 4.4, the Company shall be solely responsible for, and shall pay,
any Excise Tax on the Payment and the Gross-Up Payment and any income,
employment and other taxes (including, without limitation, penalties and
interest) imposed on any Gross-Up Payment. The Company shall be responsible for
any loss of tax deduction that the Company has to forego caused by the Payment
or the Gross-Up Payment.  Any Gross-up Payments pursuant to this Section 4.4
shall be paid not later than the end of the taxable year following the taxable
year in which the determination under this Section 4.4 was made.

 

(b)           Unless the Company and the Executive otherwise agree in writing,
any determination required under this Section 4.4, and the assumptions to
be utilized in arriving at such determinations, shall be made in writing in
good faith by independent tax counsel designated by the Company and reasonably
acceptable to Executive (“Independent Tax Counsel”).  For purposes of making the calculations
required under this Section 4.4, Independent Tax Counsel may make
reasonable assumptions and approximations concerning applicable taxes and may
rely on reasonable, good faith interpretations concerning the application of
Sections 280G and 4999 of the Code.  The
Company and Executive shall furnish to Independent Tax Counsel such information
and documents as Independent Tax Counsel may reasonably request in order to
make a determination under this Section 4.4.  The Company shall bear all costs that
Independent Tax Counsel may reasonably incur in connection with any
calculations contemplated by this Section 4.4.

 

(c)           In the event that Executive is not entitled to the Gross-Up
Payment pursuant to subsection (a) hereof and instead shall be entitled to
receive the Payment reduced by the Reduced Amount (“Net Payment”), then based
on the information provided to Executive and the Company by Independent Tax
Counsel, Executive may, in the Executive’s sole discretion and within 30 days
of the date on which Executive is provided with the information prepared by
Independent Tax Counsel, determine the composition of the Net Payment (as long
as after such determination the value (as calculated by Independent Tax Counsel
in accordance with the provisions of Sections 280G and 4999 of the Code) of the
amounts selected by Executive hereunder equals the Net Payment).  If the Internal Revenue Service (the “IRS”)
determines the Net Payment is subject to the Excise Tax, then subsection (d) hereof
shall apply, and the enforcement of subsection (d) shall be the exclusive
remedy to the Company.

 

(d)           If, notwithstanding any reduction described in subsection (a) hereof,
the IRS determines that Executive is liable for the Excise Tax as a result of
the receipt of the Net Payment, then Executive shall be obligated to pay back
to the Company, within 30 days after a final IRS determination, an amount equal
to the “Repayment Amount.”  The “Repayment
Amount” shall be the smallest such amount of the Net Payment, if any, as shall
be required to be paid to the Company so that none of the value retained by
Executive from the Net Payment shall be subject to the Excise Tax.  Notwithstanding the preceding sentences of
this subsection (d), if reduction of the Net Payment by the Repayment Amount
would result in the receipt by the Executive, on a pre-tax basis, of a portion
of the Payment which is less than the Threshold Payment Level, then Executive
shall not be obligated to pay any of the Repayment Amount, and 

 

8

 

instead Executive shall be entitled to receive from the Company the
Reduced Amount as well as the full Gross-Up Payment, with the value of that
portion of the Reduced Amount that would have originally been paid in the form
of the equity securities of the Company now payable by delivery of marketable
equity securities that are immediately saleable by Executive in the public
securities market in which such securities are traded.

 

(e) The
elements of the Executive’s Payments hereunder that constitute the “Reduced
Amount” shall be chosen as follows, but only if necessary to avoid the
application of Section  409A of the Code: 
any reduction will first be made by reducing any cash payments due
hereunder, subject to Section  409A of the Code; second by any cash
payments due hereunder not subject to Section 409A of the Code; third by
any equity vesting or payments due hereunder subject to Section  409A of
the Code; and lastly by any equity vesting or payments due hereunder not
subject to Section  409A of the Code.

 

4.5          Amendment or Termination of This Agreement. 
The Company may make amendments to this
Agreement without the consent of the Executive which are non-material
and which are not adverse to the Executive to the extent necessary or advisable
to comply with laws.  Any other changes
to or, termination of this
Agreement may be  made only upon the
mutual written consent of the Company and Executive; provided, however, that
only prior to the Section 1.2 Date , the Company may unilaterally
terminate this Agreement following eighteen (18) months’ prior written notice
to Executive and on or following the Section 1.2 Date, this Agreement may
not be terminated.  If the Company makes any changes to this Agreement
pursuant to the first sentence of this Section 4.5 it shall provide prompt
written notice and a copy of such change to the Executive.

 

ARTICLE V.

 

OTHER RIGHTS AND BENEFITS NOT AFFECTED

 

5.1          Nonexclusivity. 
Nothing in the Agreement shall prevent or limit Executive’s continuing
or future participation in any benefit, bonus, incentive or other plans,
programs, policies or practices provided by the Company and for which Executive
may otherwise qualify, nor shall anything herein limit or otherwise affect such
rights as Executive may have under any stock option or other agreements with the
Company; provided, however, that in accordance with Section 4.1,
any benefits provided hereunder shall be in lieu of any other severance
benefits to which Executive may otherwise be entitled, including without
limitation, under any employment contract or severance plan.  Except as otherwise expressly provided
herein, amounts which are vested benefits or which Executive is otherwise
entitled to receive under any plan, policy, practice or program of the Company
at or subsequent to the date of a Termination Event shall be payable in
accordance with such plan, policy, practice or program.

 

5.2          Employment Status. 
This Agreement does not constitute a contract of employment or impose on
Executive any obligation to remain as an employee, or impose on the Company any
obligation (i) to retain Executive as an employee, (ii) to change the
status of 

 

9

 

Executive as an at-will employee, or (iii) to change the Company’s
policies regarding termination or alteration of employment.

 

ARTICLE VI.

 

NON-ALIENATION OF BENEFITS

 

No benefit
hereunder shall be subject to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or charge, and any attempt to do so shall be
void.

 

ARTICLE VII.

 

DEFINITIONS

 

For purposes of
the Agreement, the following terms shall have the meanings set forth below:

 

7.1          “Agreement”
means this Change of Control Severance Agreement.

 

7.2          “Base
Salary” means Executive’s annual salary (excluding bonus, any other
incentive or other payments and stock option exercises) from the Company at the
time of the occurrence of the Change of Control or a Termination Event,
whichever is greater.

 

7.3          “Cause”
means misconduct, including but not limited to: (i) conviction of any
felony or any crime involving moral turpitude or dishonesty which has a
material adverse effect on the Company’s business or reputation; (ii) repeated
unexplained or unjustified absences from the Company; (iii) refusal or
willful failure to act in accordance with any specific lawful direction or
order of the Company or stated written policy of the Company which has a
material adverse effect on the Company’s business or reputation; (iv) a
material and willful violation of any state or federal law which if made public
would materially injure the business or reputation of the Company as reasonably
determined by the Board; (v) participation in a fraud or act of dishonesty
against the Company which has a material adverse effect on the Company’s
business or reputation; (vi) conduct by Executive which the Board
determines demonstrates gross unfitness to serve; or (vii) intentional,
material violation by Executive of any contract between Executive and the
Company or any statutory duty of Executive to the Company that is not corrected
within thirty (30) days after written notice to Executive thereof.   Whether or not the actions or omissions of
Executive constitute “Cause” within the meaning of this Section 7.3 shall
be decided by the Board based upon a reasonable good faith investigation and
determination.  Physical or mental
disability shall not constitute “Cause.”

 

7.4          “Change
of Control” means the occurrence of any of the following events:

 

(i)     The sale, exchange, lease or other
disposition or transfer of all or substantially all of the consolidated assets
of the Company to a person or group (as such terms are defined or described in
Sections 3(a)(9) and 13(d)(3) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)) which will continue the business of the
Company in the future; or

 

(ii)    A merger or consolidation involving
the Company in which the shareholders of the Company immediately prior to such
merger or consolidation are not the beneficial owners

 

10

 

(within the meaning of Rules 13d-3 and 13d-5 promulgated under the
Exchange Act) of more than 75% of the total voting power of the outstanding
voting securities of the corporation resulting from such transaction in
substantially the same proportion as their ownership of the total voting power
of the outstanding voting securities of the Company immediately prior to such
merger or consolidation; or

 

(iii)          The acquisition of beneficial
ownership (within the meaning of Rules 13d-3 and 13d-5 promulgated under
the Exchange Act) of at least 25% of the total voting power of the outstanding
voting securities of the Company by a person or group (as such terms are
defined or described in Sections 3(a)(9) and 13(d)(3) of the Exchange
Act).

 

7.5          “Company”
means Agilent Technologies, Inc., a Delaware corporation, and any
successor thereto.

 

7.6          “Good
Reason” means (i) a more than $10,000 reduction of Executive’s
rate of compensation as in effect immediately prior to the Effective Date of
this Agreement or in effect immediately prior to the occurrence of a Change of
Control, whichever is greater, other than reductions in Base Salary that apply
broadly to employees of the Company or reductions due to varying metrics and
achievement of performance goals for different periods under variable pay programs;
(ii) either (A) failure to provide a package of benefits which, taken
as a whole, provides substantially similar benefits to those in which the
Executive is entitled to participate in the day prior to the occurrence of the
Change of Control (except that employee contributions may be raised to the
extent of any cost increases imposed by third parties) or (B) any action
by the Company which would significantly and adversely affect Executive’s
participation or reduce Executive’s benefits under any of such plans in
existence the day prior to the Change of Control, other than changes that apply
broadly to employees of the Company; (iii) change in Executive’s duties,
responsibilities, authority, job title, or reporting relationships resulting in
a significant diminution of position, excluding for this purpose an isolated,
insubstantial and inadvertent action not taken in bad faith which is remedied
by the Company within thirty (30) days 
after notice thereof is given by Executive; (iv) request that
Executive relocate to a worksite that is more than 35 miles from his prior
worksite, unless Executive accepts such relocation opportunity; (v) failure
or refusal of a successor to the Company to assume the Company’s obligations
under this Agreement, as provided in Section 8.7; or (vi) material
breach by the Company or any successor to the Company of any of the material
provisions of this Agreement.  For
purposes of clause (iii) of the immediately preceding sentence, Executive’s
duties, responsibilities, authority, job title or reporting relationships shall
not be considered to be significantly diminished (and therefore shall not
constitute “Good Reason”) so long as Executive continues to perform
substantially the same functional role for the Company as Executive performed
immediately prior to the occurrence of the Change of Control, even if the
Company becomes a subsidiary or division of another entity.

 

7.7          “Target Bonus”
means that amount (expressed as a percentage of Executive’s Base Salary) equal
to Executive’s “target bonus” as defined under the Company’s Performance-Based
Compensation Plan for Covered Employees (or the comparable term or standard
under the Company’s cash incentive plan in effect at the time of Executive’s
Termination Event if the Performance-Based Compensation Plan for Covered
Employees is no longer in effect at such time) as set for the Executive by the
Compensation Committee of the Board of Directors or other

 

11

 

authorized body covering the
twelve-month period ending at the end of the performance period during which
the Executive’s Termination Event occurs.

 

7.8          “Termination Event” means an involuntary
termination of employment described in Section 2.1(a) or a voluntary
termination of employment described in Section 2.2(a).

 

7.9          Termination of employment for purposes of this Agreement means a separation
from service within the meaning of Treasury Regulation § 1.409A-1(h).  The Executive shall not be deemed to have
separated from service if the Executive continues to provide services to the
Company at an annual rate that is fifty percent or more of the services
rendered, on average, during the immediately preceding three full years of
employment with the Company (or if employed by the Company less than three
years, such lesser period); provided, however, that a separation from service
will be deemed to have occurred if the Executive service with the Company is
reduced to an annual rate that is less than twenty percent of the services
rendered, on average, during the immediately preceding three full years of
employment with the Company (or if employed by the Company less than three
years, such lesser period). For purposes of this Section 7.9 only and for
determining whether a Executive has experienced a separation from service, the “Company”
shall mean the Company and its affiliates that are treated as a single employer
under section 414(b) or (c) of the Code.

 

ARTICLE VIII.

 

GENERAL
PROVISIONS

 

8.1          Notices.  Any notices provided hereunder must be in
writing and such notices or any other written communication shall be deemed
effective upon the earlier of personal delivery (including personal delivery by
telex or facsimile) or the third day after mailing by first class mail, to the
Company at its primary office location and to Executive at Executive’s address
as listed in the Company’s payroll records. 
Any payments made by the Company to Executive under the terms of this
Agreement shall be delivered to Executive either in person or at such address
as listed in the Company’s payroll records.

 

8.2          Severability.  It is the intent of the parties to this
Agreement that whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision or any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provisions had never been contained herein.

 

8.3          Waiver.  If either party should waive any breach of
any provisions of this Agreement, that party shall not thereby be deemed to
have waived any preceding or succeeding breach of the same or any other
provision of this Agreement.

 

8.4          Complete Agreement.  This Agreement, including Exhibit A,
constitutes the entire agreement between Executive and the Company and it is
the complete, final, and exclusive 

 

12

 

embodiment of their agreement with
regard to this subject matter.  It is
entered into without reliance on any promise or representation other than those
expressly contained herein.

 

8.5          Counterparts.  This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one
party, but all of which taken together will constitute one and the same
Agreement.

 

8.6          Headings.  The headings of the Articles and Sections
hereof are inserted for convenience only and shall neither be deemed to
constitute a part hereof nor to affect the meaning thereof.

 

8.7          Successors and Assigns.  This Agreement is intended to bind and inure
to the benefit of and be enforceable by Executive and the Company, and their
respective successors, assigns, heirs, executors and administrators, except
that Executive may not delegate any of Executive’s duties hereunder and may not
assign any of Executive’s rights hereunder without the written consent of the
Company, which consent shall not be withheld unreasonably.  Any successor to the Company (whether direct
or indirect and whether by purchase, merger, consolidation, liquidation or
otherwise) to all or substantially all of the Company’s business and/or assets
shall assume the Company’s obligations under this Agreement in the same manner
and to the same extent as the Company would be required to perform such
obligations in the absence of a succession. 
For all purposes under this Agreement, the term “Company” shall include
any successor to the Company’s business and/or assets, whether or not such
successor executes and delivers an assumption agreement referred to in the
preceding sentence or becomes bound by the terms of this Agreement by operation
of law or otherwise.

 

8.8          Attorney Fees.  If either party hereto brings any action to
enforce such party’s rights hereunder, the prevailing party in any such action
shall be entitled to recover such party’s reasonable attorneys’ fees and costs
incurred in connection with such action.

 

8.9          Arbitration.  In order to ensure rapid and economical
resolution of any dispute which may arise under this Agreement, Executive and
the Company agree that any and all disputes or controversies, arising from or
regarding the interpretation, performance, enforcement or termination of this
Agreement shall submitted to JAMS for non-binding mediation.  If complete agreement cannot be reached
within 60 days after the date of submission to mediation, any remaining issues
will be submitted to JAMS to be resolved by final and binding arbitration under
the JAMS Arbitration Rules and Procedures for Employment Disputes.  The reference to JAMS shall refer to any
successor to JAMS, if applicable.  BY ENTERING INTO THIS AGREEMENT, THE COMPANY AND
EXECUTIVE ACKNOWLEDGE THAT THEY ARE WAIVING THEIR RIGHT TO JURY TRIAL OF ANY
DISPUTE COVERED BY THIS AGREEMENT.

 

8.10        Choice of Law.  All questions concerning the construction,
validity and interpretation of this Agreement will be governed by the law of
the State of California.

 

8.11        Construction of Agreement.  In the event of a conflict between the text
of the Agreement and any summary, description or other information regarding
the Agreement, the text of the Agreement shall control.

 

13

 

IN WITNESS WHEREOF, the parties
have executed this Agreement effective on the day and year written above.

 

 

	
  Agilent
  Technologies, Inc.,

  a
  Delaware corporation

  	
   

  	
    EXECUTIVE

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
    Signature

  
	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
									

 

 

Exhibit A: Employee General Release

 

14

 

CONFIDENTIAL

 

Exhibit A

 

GENERAL
RELEASE AND AGREEMENT

 

This General Release and Agreement (the “Agreement”)
is made and entered into by                                                   (“Executive”).  The Agreement is part of an agreement between
Executive and Agilent Technologies, Inc. (“Agilent’) to terminate
Executive’s employment with Agilent on terms that are satisfactory both to
Agilent and to Executive.  Therefore,
Executive agrees as follows:

 

1.                                       Executive agrees to attend a Functional Exit Interview on
                        ,
20     at which time all company property and
identification will be turned in and the appropriate personnel documents will
be executed.  Thereafter, Executive
agrees to do such other acts as may be reasonably requested by Agilent in order
to effectuate the terms of this agreement. 
Executive agrees to remove all personal effects from his current office
within seven days of signing this agreement and in any event not later than
                      ,
20    .

 

2.                                       Executive agrees not to make any public statement or statements to
the press concerning Agilent, its business objectives, its management
practices, or other sensitive information without first receiving Agilent’s
written approval.  Executive further
agrees to take no action which would cause Agilent or its employees or agents
any embarrassment or humiliation or otherwise cause or contribute to Agilent’s
or any such person’s being held in disrepute by the general public or Agilent’s
employees, clients, or customers.

 

3.                                       Executive, on behalf of Executive’s heirs, estate, executors,
administrators, successors and assigns does fully release, discharge, and agree
to hold harmless Agilent, its officers, agents, employees, attorneys,
subsidiaries, affiliated companies, successors and assigns from all actions,
causes of action, claims, judgments, obligations, damages, liabilities, costs,
or expense of whatsoever kind and character which he may have, including but not limited to;

 

a.                                       any claims relating to employment discrimination on account of
race, sex, age, national origin, creed, disability, or other basis, whether or
not arising under the Federal Civil Rights Acts, the Age Discrimination in
Employment Act, California Fair Employment and Housing Act, the Rehabilitation
Act of 1973, the Americans With Disabilities Act, any amendments to the
foregoing laws, or any other federal, state, county, municipal, or other law,
statute, regulation or order relating to employment discrimination;

 

b.                                      any claims relating to pay or leave of absence arising under the
Fair Labor Standards Act, the Family Medical Leave Act, and any similar laws
enacted in California;

 

1

 

c.                                       any claims for reemployment, salary, wages, bonuses, vacation pay,
stock options, acquired rights, appreciation from stock options, stock
appreciation rights, benefits or other compensation of any kind;

 

d.                                      any claims relating to, arising out of, or connected with
Executive’s employment with Agilent, whether or not the same be based upon any
alleged violation of public policy; compliance (or lack thereof) with any
internal Agilent policy, procedure, practice or guideline; or any oral,
written. express, and/or implied employment contract or agreement, or the
breach of any terms thereof, including but not limited to, any implied covenant
of good faith and fair dealing; or any federal, state, county or municipal law,
statute, regulation, or order whether or not relating to labor or employment; and

 

e.                                       any claims relating to, arising out of, or connected with any
other matter or event occurring prior to the execution of this Agreement
whether or not brought before any judicial, administrative, or other tribunal.

 

The foregoing release shall not apply to (i) Executive’s
rights under the Amended and Restated Change of Control Severance Agreement
between Executive and the Company; (ii) Executive’s rights under any
employee benefit plan sponsored by the Company; (iii) Executive’s rights
to indemnification under the Company’s bylaws or other governing instruments or
under any agreement addressing such subject matter between Executive and the
Company or under any merger or acquisition agreement addressing such subject
matter; (iv) Executive’s rights of insurance under any liability policy
covering the Company’s officers or (v) claims which Executive may not
release as a matter of law, including, but not limited to, indemnification
claims under applicable law.

 

4.                                       Executive represents and warrants that Executive has not assigned
any such claim or authorized any other person or entity to assert such claim on
Executive’s behalf.  Further, Executive
agrees that under this Agreement Executive waives any claim for damages
incurred at any time in the future because of alleged continuing effects of
past wrongful conduct involving any such claims and any right to sue for
injunctive relief against the alleged continuing effects of past wrongful
conduct involving such claims.

 

5.                                       In entering into this Agreement, the parties have intended that
this Agreement be a full and final settlement of all matters, whether or not
presently disputed, that could have arisen between them.

 

6.                                       Executive understands and expressly agrees that
this Agreement extends to all claims of every nature and kind whatsoever, known
or unknown, suspected or unsuspected, past or present and all rights under Section 1542
of the California Civil Code and/or any similar statute or law or any other
jurisdiction are hereby expressly waived. 
Such section reads as follows:

 

“Section 1542.  A general release does not extend to claims
which the creditor does not know or suspect to exist in his favor at the time
of executing the release, which if known by him must have materially affected
his settlement with the debtor.”

 

2

 

7.                                       It is expressly agreed that the claims released pursuant to this
Agreement include all claims against individual employees of Agilent, whether
or not such employees were acting within the course and scope of their
employment.

 

8.                                       Executive understands and agrees that, as a condition of this
Agreement, Executive shall not be entitled to any employment (including
employment as an independent contractor or otherwise) with Agilent, its
subsidiaries or related companies, or any successor, and Executive hereby waives
any right, or alleged right, of employment or re-employment with Agilent.  Executive further agrees not to apply for
employment with Agilent in the future and not to institute or join any action,
lawsuit or proceeding against Agilent, its subsidiaries, related companies or
successors for any failure to employ Executive. 
In the event Executive should secure such employment, it is agreed that
such employment is voidable without cause in the sole discretion of Agilent.  After terminating Executive’s employment,
should Executive become employed by another company which Agilent merges with
or acquires after the date of this Agreement, Executive may continue such
employment only if Agilent makes offers of employment to all employees of the
acquired or merged company.

 

9.                                       Executive agrees that the terms, amount and fact of settlement
shall be confidential until Agilent Technologies needs to make any required
disclosure of any agreements between Agilent and Executive.  Therefore, except as may be necessary to enforce
the rights contained herein in an appropriate legal proceeding or as may be
necessary to receive professional services from, an attorney, accountant, or
other professional adviser in order for such adviser to render professional
services, Executive agrees not to disclose any information concerning these
arrangements to anyone, including, but not limited to, past, present and future
employees of Agilent, until such time of the public filings.

 

10.                                 At Agilent’s request, Executive shall cooperate fully in
connection with any legal matter, proceeding or action relating to Agilent.

 

11.                                 The terms of this Agreement are intended by the parties as a final
expression of their agreement with respect to such terms as are included in
this Agreement and may not be contradicted by evidence of any prior or
contemporaneous agreement.  The parties
further intend that this Agreement constitutes the complete and exclusive
statement of its terms and that no extrinsic evidence whatsoever may be
introduced in any judicial or other proceeding, if any, involving this
Agreement.  No modification of this
Agreement shall be effective unless in writing and signed by both parties
hereto.

 

12.                                 It is further expressly agreed and understood that Executive has
not relied upon any advice from Agilent Technologies, Inc. and/or its
attorneys whatsoever as to the taxability, whether pursuant to federal, state,
or local income tax statutes or regulations or otherwise, of the payments made
hereunder and that Executive will be solely liable for all tax obligations, if
any, arising from payment of the sums specified herein and shall hold Agilent
Technologies, Inc. harmless from any tax obligations arising from said
payment.

 

13.                                 If there is any dispute arising out of or related to this
Agreement, which cannot be settled by good faith negotiation between the
parties, such dispute will be submitted to JAMS for 

 

3

 

non-binding mediation.  If complete agreement cannot be reached
within 60 days of submission to mediation, any remaining issues will be
submitted to JAMS for final and binding arbitration pursuant to JAMS
Arbitration Rules and Procedures for Employment Disputes.  The reference to JAMS shall refer to any
successor to JAMS, if applicable.  BY ENTERING INTO THIS AGREEMENT, EXECUTIVE
ACKNOWLEDGES THAT EXECUTIVE IS WAIVING EXECUTIVE’S RIGHT TO JURY TRIAL OF ANY
DISPUTE COVERED BY THIS AGREEMENT.

 

4

 

14.           The following notice is provided in accordance with the
provisions of Federal Law:

 

You have
up to twenty-one days (21) days from the date this General Release and
Agreement is given to you in which to accept its terms, although you may accept
it any time within those twenty-one days. 
You are advised to consult with an attorney regarding this
Agreement.  You have the right to revoke
your acceptance of this Agreement at any time within seven (7) days from
the date you sign it, and this Agreement will not become effective and
enforceable until this seven (7) day revocation period has expired.  To revoke your acceptance, you must send a
written notice of revocation to Agilent Technologies, Inc., Attention:
Senior Vice President and General Counsel located at 5301 Stevens Creek
Boulevard, MS 1A-11, Santa Clara, CA 95051 by 5:00 p.m. on or before the
seventh day after you sign this Agreement.

 

EXECUTIVE
FURTHER STATES THAT EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT WITH THE
ATTORNEY OF EXECUTIVE’S CHOICE, THAT EXECUTIVE HAS CAREFULLY READ THIS
AGREEMENT, THAT EXECUTIVE HAS HAD AMPLE TIME TO REFLECT UPON AND CONSIDER ITS
CONSEQUENCES, THAT EXECUTIVE FULLY UNDERSTANDS ITS FINAL AND BINDING EFFECT,
THAT THE ONLY PROMISES MADE TO EXECUTIVE TO SIGN THIS AGREEMENT ARE THOSE
STATED ABOVE OR IN THAT CHANGE OF CONTROL SEVERANCE AGREEMENT BETWEEN AGILENT
AND EXECUTIVE, AND THAT EXECUTIVE IS SIGNING THIS AGREEMENT VOLUNTARILY.

 

IN WITNESS WHEREOF, this Agreement has
been executed in duplicate originals on the date indicated below, and shall
become effective as indicated above.

 

 

EXECUTIVE

 

	
  By:

  	
   

  	
   

  
	
   

  
	
  Name:

  	
   

  	
   

  
	
   

  
	
  Date:

  	
   

  	
   

  
					

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]