Document:

exv10w1

Exhibit 10.1

AGREEMENT FOR TERMINATION OF EMPLOYMENT

     THIS AGREEMENT FOR TERMINATION OF EMPLOYMENT (“Agreement”) is between Waste Management, Inc.
(the “Company”) and Lawrence O’Donnell, III (“Executive”).

Preamble

     WHEREAS, the Company and Executive previously entered into that certain Employment Agreement
dated January 21, 2000, as amended as of October 20, 2004 and December 31, 2008 (as so amended, the
“Employment Agreement”);

     WHEREAS, the employment of Executive will terminate effective June 30, 2010;

     WHEREAS, the Company and Executive now jointly desire to enter into this Agreement to
supplement the continuing provisions of the Employment Agreement; and

     NOW, THEREFORE, in consideration of the premises and agreements contained herein, and for
other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged,
the Company and Executive agree as follows:

     1. Termination of Positions and Employment. The employment of Executive will terminate
effective June 30, 2010. From and after the date of execution of this Agreement by the Company and
Executive, Executive will no longer be (1) the President, Chief Operating Officer or any other
officer of the Company or (2) an officer or director of any subsidiary of the Company. Executive
agrees to continue in his employment with the Company until June 30, 2010 to assist in transition.
The parties agree that Executive’s employment will terminate under circumstances entitling
Executive to the payments, compensation and benefits set forth in Section 6(e) of the Employment
Agreement, as more specifically detailed in a summary sheet which has been previously provided to
Executive. The Company shall withhold, or cause to be withheld, from all such payments,
compensation and benefits the amounts required to be withheld pursuant to federal, state or local
tax laws.

     2. Other Agreements. This Agreement does not amend, supersede, waive or release any
agreements, plans or implementing documentation relating to Executive’s employment with, and
compensation and benefits from, the Company, including the Employment Agreement, the Executive’s
Indemnity Agreement dated October 27, 2005, any plans, agreements, grants or acceptances providing
participation or benefits under the Company’s various equity-based compensation plans
(collectively, the “Employment Documents”). The Employment Documents contain agreements, covenants
and other provisions that are stated or are intended to remain effective after termination of
Executive’s employment, and Executive and Company confirm that the agreements, covenants and other
provisions in the Employment Documents shall continue in full force and effect in accordance with
their terms after termination of Executive’s employment. On and as of the close of business on
June 30, 2010, the Company and Executive will execute and deliver mutual releases in substantially
the form that the parties have previously agreed.

 

 

     Effective as of the June 1, 2010.

	 	 	 	 	 
	 	LAWRENCE O’DONNELL, III

(“Executive”)

 	 
	 	/s/ Lawrence O’Donnell, III
 	 
	 	Lawrence O’Donnell, III 	 
	 	
June 1, 2010

(Date) 	 
	 
	 	WASTE MANAGEMENT, INC.

(The “Company”)

 	 
	 	By:  	/s/ David P. Steiner
 	 
	 	 	David P. Steiner 	 
	 	 	Chief Executive Officer	 
	 	 	

June 1, 2010
 (Date)EXHIBIT 4.25

Exhibit 4.25

	 	 	 
	Stephen Scott

Group General Counsel and Company Secretary
	 	
	 
	 	 
	27 July 2005
	 	 

	 	 	 	 	 
	Mr Andy Halford
	 	Our Ref:
	 	SRS/je/3713
	The Oxdrove House
	 	Direct line:
	 	+44 1635 673915
	Burghclere
	 	Direct fax:
	 	+44 1635 580761
	Berkshire
	 	 	 	 
	RG20 9HJ
	 	 	 	 

Dear Andy

INDEMNIFICATION OF DIRECTORS

Until April of this year, the Company was only able to indemnify a Director for liability incurred
in his or her capacity as Director once judgment was given in favour of the Director or the
Director was acquitted. The Companies (Audit, Investigations and Community Enterprise) Act 2004
came into force in April 2005 and expands the circumstances under which a Director can be
indemnified.

At the AGM of the Company held on 26 July 2005, the shareholders approved amendments to the
Memorandum and Articles of Association of the Company to enable the Company to indemnify its
Directors in accordance with the new legislation.

As a result, and with immediate effect, the Board has instructed me to advise you that the Company
has granted and hereby confirms the grant of the following indemnity to you in relation to
liability incurred in your capacity as Director:

	(i)	 	The Company will provide funds to cover costs as incurred by you in defending legal
proceedings brought against you in your capacity as, or as a result of your being or having
been, a Director of the Company including criminal proceedings and proceedings brought by the
Company itself or an Associated Company;
	 
	(ii)	 	The Company will indemnify you in respect of any proceedings brought by third parties,
including both legal and financial costs of an adverse judgment brought against you in your
capacity as, or as a result of your being or having been, a Director of the Company; and
	 
	(iii)	 	The Company will indemnify you for liability incurred in connection with any application
made to a court for relief from liability, where the court grants such relief.

For the avoidance of doubt and in accordance with the new legislation, the indemnity granted does
not cover:

	(i)	 	Unsuccessful defence of criminal proceedings, in which instance the Company would seek
reimbursement for any funds advanced;
	 
	(ii)	 	Unsuccessful defence of an action brought by the Company itself or an Associated Company,
in which instance the Company would seek reimbursement for any funds advanced:

Vodafone Group Plc

Company Secretary’s & Legal Department

Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England

Telephone: +44 1635 33251, Facsimile: +44 1635 580857

Registered Office: Vodafone House,
The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679

 

 

	(iii)	 	Fines imposed by regulatory bodies;
	 
	(iv)	 	Fines imposed in criminal proceedings; and
	 
	(v)	 	Liability incurred in connection with any application under Section 144(3) or (4) of the
Companies Act 1985 (acquisition of shares by innocent nominee) or section 727 of the Companies Act
1985 (general power to grant relief in case of honest and reasonable conduct), where the court
refuses to grant you relief, and such refusal is final. (For reference, a summary of these sections
is appended to this letter).

The indemnity is provided for all claims arising from today’s date, even if the action giving
rise to the claim occurred before the Company had the authority to grant an indemnity in
accordance with the new legislation. Prior to today’s date, your right to indemnification is as
set out in your Service Agreement and the Articles of Association of the Company.

It is a condition of the provision of this indemnity that you shall notify the Company without
delay upon becoming aware of any claim or potential claim against you and that you have a duty
to mitigate any loss incurred.

The Company maintains Directors and Officers insurance as additional cover for Directors which,
if the insurance policy so permits, may provide funds in circumstances where the law prohibits
the Company from indemnifying Directors.

If you have any queries in relation to this letter let me know. If not, please counter-sign the
enclosed copy of this letter and return it to me at your earliest convenience.

Yours sincerely

I accept the terms of this letter

	 	 	 

	/s/ [ILLEGIBLE]
	 	Date 27 July 2005

2

 

APPENDIX

Section 144(3) and (4) Companies Act 1985

Section 144 CA 1985 governs the situation where there are partly paid up shares issued to a
Company nominee. If the nominee is called upon to pay up but fails to do so, the Directors of the
Company are jointly and severally liable with the nominee to pay such amount. Under this section
however, the court is able to excuse the Director of his or her liability if it finds that the
Director has acted honestly and reasonably in the circumstances and ought fairly to be excused
from liability. If the Director is so excused, the indemnity granted by the Company will cover
costs incurred by the Director in relation to the proceedings. If the court refuses to grant such
relief, the Company will not be permitted to indemnify the Director for costs incurred.

Section 727 Companies Act 1985

The Court has power under s.727 CA 1985 in any proceedings that come before it concerning
negligence, default, breach of duty or breach of trust against a Director to relieve him or her
from liability if having regard to all the circumstances of the case it finds that the Director has
acted honestly and reasonably and ought fairly to be excused from liability. If the Director is
excused, the Company will indemnify the Director for any costs incurred in relation to the
proceedings but if relief is refused, the Company will not be permitted under the new legislation
to indemnify the Director.

3EXHIBIT 4.26

Exhibit 4.26

			
	 	 	 
	19 May 2009
	 	

Michel Combes

Chief Executive, Europe Region

Vodafone Group Plc

Vodafone House

The Connection

Newbury

Berkshire

RG14 2FN

Dear Michel

INDEMNIFICATION OF DIRECTORS

In April 2005, the Companies (Audit Investigations and Community Enterprise) Act 2004 came into
force which expanded the circumstances under which a Director can be indemnified by the Company. At
the Company’s AGM in 2005, the Shareholders approved amendments to the Memorandum and Articles of
Association to enable the Company to indemnify its Directors in accordance with the legislation.
Further amendments to the Articles of Association were approved at the Company’s AGM in 2008 to
provide the Company with the ability to provide indemnification to the extent permitted by the
Companies Act 2006.

As a result, you will have the benefit of the following indemnity in relation to liability
incurred in your capacity as a Director of the Company. This indemnity is as wide as English law
currently permits:

	(i)	 	The Company will provide funds to cover costs as incurred by you in defending legal
proceedings brought against you in your capacity as, or as a result of your being or having
been, a Director of the Company including criminal proceedings and proceedings brought by the
Company itself or an Associated Company;
	 
	(ii)	 	The Company will indemnify you in respect of any proceedings brought by third parties,
including both legal and financial costs of an adverse judgment brought against you in your
capacity as, or as a result of your being or having been, a Director of the Company; and
	 
	(iii)	 	The Company will indemnify you for liability incurred in connection with any application
made to a court for relief from liability, where the court grants such relief.

For the avoidance of doubt, the indemnity granted does not cover:

	(i)	 	Unsuccessful defence of criminal proceedings, in which instance the Company would seek
reimbursement for any funds advanced:

Vodafone Group Plc

Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England

T +44 1635 33251  F +44 1635 676746

Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679

 

 

	(ii)	 	Unsuccessful defence of an action brought by the Company itself or an Associated
Company, in which instance the Company would seek reimbursement for any funds advanced;
	 
	(iii)	 	Fines imposed by regulatory bodies;
	 
	(iv)	 	Fines imposed in criminal proceedings; and
	 
	(v)	 	Liability incurred in connection with any application under Section 661(3) or (4) of the
Companies Act 2006 (acquisition of shares by innocent nominee) or section 1157 of the
Companies Act 2006 (general power to grant relief in case of honest and reasonable conduct),
where the court refuses to grant you relief, and such refusal is final. (For reference, a
summary of these sections is appended to this letter).

Furthermore, the Company may, subject to the provisions of the Companies Act 2006 and the rules
made by the UK Listing Authority, provide funds to cover costs as incurred by you in defending
yourself in an investigation by a regulatory authority or against an action proposed to be taken
by a regulatory authority in connection with any alleged negligence, default, breach of duty or
breach of trust by you in relation to the Company or an Associated Company.

It is a condition of the provision of this indemnity that you shall notify the Company without
delay upon becoming aware of any claim or potential claim against you and that you have a duty to
mitigate any loss incurred.

The Company maintains Directors and Officers insurance as additional cover for Directors which, if
the insurance policy so permits, may provide funds in circumstances where the law prohibits the
Company from indemnifying Directors.

If you have any queries in relation to this letter, please let me know. Otherwise, please
counter-sign the enclosed copy of this letter and return to me at your earliest convenience.

Yours sincerely

	 	 	 

	I accept the terms of this letter.
	 	 
	 
	 	 
	/s/ Michel Combes
	 	 
	 

Michel Combes
	 	 
	Chief Executive, Europe Region
	 	 
	Vodafone Group Plc
	 	 

Date:
 

 

 

Appendix

Section 661(3) and (4) Companies Act 2006

Section 661 of the Companies Act 2006 governs the situation where there are partly paid up shares
issued to a Company nominee. If the nominee is called upon to pay up but fails to do so, the
Directors of the Company are jointly and severally liable with the nominee to pay such amount.
Under this section however, the court is able to excuse the Director of his or her liability if it
finds that the Director has acted honestly and reasonably in the circumstances and ought fairly to
be excused from liability. If the Director is so excused, the indemnity provided by the Company
will cover costs incurred by the Director in relation to the proceedings. If the court refuses to
grant such relief, the Company will not be permitted to indemnify the Director for costs incurred.

Section 1157 Companies Act 2006

The Court has power under section 1157 of the Companies Act 2006 in any proceedings that come
before it concerning negligence, default, breach of duty or breach of trust against a Director to
relieve him or her from liability if having regard to all the circumstances of the case it finds
that the Director has acted honestly and reasonably and ought fairly to be excused from liability.
If the Director is excused, the Company will indemnify the Director for any costs incurred in
relation to the proceedings but if relief is refused, the Company will not be permitted to
indemnify the Director.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]