Document:

EX-10.1

Separation Agreement and Release

This document is a Separation Agreement and Release (this “Release Agreement”) and is
between Ferro Corporation (“Ferro”) and Michael Murry (“Mr. Murry”).

For good and valuable consideration, and intending to be legally bound, Ferro and Mr. Murry
hereby agree as follows:

1. Termination of Employment

	 	A.	 	Ferro has employed Mr. Murry since July 1, 2005.

	 	B.	 	Mr. Murry and Ferro signed a confidentiality agreement (the “Confidentiality
Agreement”) dated June 3, 2005.

	 	C.	 	Ferro and Mr. Murry signed a Change in Control Agreement effective as of
January 1, 2009 (the “Change in Control Agreement”).

	 	D.	 	Mr. Murry has served as Vice President, Electronic, Color and Glass Materials
for Ferro.

	 	E.	 	Mr. Murry’s employment relationship with Ferro has ended as of October 19, 2012
(the “Termination Date”) and Mr. Murry has no other service relationships with Ferro as
of that date, so the Termination Date is also the date of “separation from service” for
purposes of Section 409A of the Internal Revenue Code.

2. Normal Package and Other Matters

	 	A.	 	Regardless of whether Mr. Murry signs this Release Agreement, Mr. Murry will be
paid for time worked through the Termination Date and will be entitled to receive a
payment equal to the value of current year accrued but unused vacation.

	 	B.	 	Regardless of whether Mr. Murry signs this Release Agreement, Mr. Murry will be
permitted to extend existing medical, dental, and vision insurance coverage, if any, at
his own expense, consistent with federal COBRA law and any applicable state laws.

	 	C.	 	Regardless of whether Mr. Murry signs this Release Agreement, Mr. Murry will be
entitled to exercise any stock options awarded to him by Ferro (that have vested as of
the Termination Date) at any time up to and including January 19, 2013. After January
19, 2013, Mr. Murry will not be entitled to exercise any further Ferro stock options.
Any stock options that did not vest as of the Termination Date will be forfeited as of
the Termination Date.

	 	D.	 	Regardless of whether Mr. Murry signs this Release Agreement, in accordance
with the terms of Performance Share Awards and Restricted Share Awards under the 2006
Long-Term Incentive Compensation Plan or the 2010 Long-Term Incentive Compensation
Plan, any Performance Shares or Restricted Shares awarded to Mr. Murry that have not
yet vested will be forfeited as of the Termination Date.

	 	E.	 	Regardless of whether Mr. Murry signs this Release Agreement, Mr. Murry’s
rights with respect to any benefits payable under the Ferro Corporation Savings and
Stock Ownership Plan and the Ferro Corporation Supplemental Defined Contribution Plan
for Executive Employees shall be governed by the terms and conditions of such plans.

	 	F.	 	If Mr. Murry does not sign this Agreement, he shall not be eligible to receive
any payment for 2012 or 2013 under the terms of Ferro’s annual incentive plan.

3. Enhanced Package

In consideration of the agreements and promises made by Mr. Murry in this Release Agreement,
Ferro is prepared to provide Mr. Murry with, and Mr. Murry hereby elects to receive, the
following enhanced separation pay and benefits (the “Enhanced Package”) in addition to the
benefits described in paragraph 2 above and subject to the terms and conditions of this
Release Agreement:

	 	A.	 	Severance Payments

Ferro will pay Mr. Murry the following:

(1) A severance payment totaling Six Hundred and Twelve Thousand ($612,000), which
is equivalent to eighteen (18) months of Mr. Murry’s current base salary; and

(2) A payment of Three Hundred Sixty-Seven Thousand Two Hundred Dollars ($367,200),
which is equivalent to one and one-half (1.5) times the annual incentive that Mr.
Murry would have earned under Ferro’s annual incentive plan for 2012, assuming that
performance had been attained at the “target” level as based on a percentage of Mr.
Murry’s current base salary; and

(3) A pro rata payment equal to the annual incentive (if any) that Mr. Murry would
have earned under Ferro’s annual incentive plan for 2012 if he was employed by Ferro
on the last day of 2012, based on the actual level of performance attained for 2012
and prorated by multiplying this amount by a fraction, the numerator of which is
equal to the number of days which have elapsed in 2012 through the Termination Date
and the denominator of which is 365.

	 	B.	 	Continuation of Benefits

To the extent that Mr. Murry is enrolled in Ferro’s medical, dental and/or vision
plan as of the Termination Date, Mr. Murry and his spouse and dependents (if
likewise so-enrolled as of the Termination Date) will continue to participate in
those plans (whichever applicable) in accordance with the terms of such plans as
they may be amended from time to time, at the same cost to Mr. Murry as would be
incurred by similarly situated active employees (which may change from time-to-time)
until (i) the date Mr. Murry becomes eligible for any medical, dental, or vision
coverage provided by another employer or, if earlier, (ii) eighteen (18) months
following the Termination Date (the parties agree that the COBRA continuation period
shall not begin until after the expiration of the periods set forth herein). Mr.
Murry’s portion of monthly premiums covering the fourth quarter of 2012 will be
deducted from the initial lump sum Severance Payment. Mr. Murry’s portion of
premiums for subsequent months will be billed to him quarterly, and he agrees to pay
such invoices within 30 days of receipt if he wishes to (and remains eligible to)
continue coverage.

	 	C.	 	Outplacement Services

Ferro shall make available to Mr. Murry reasonable outplacement services by a firm
selected by Ferro and acceptable to Mr. Murry, at Ferro’s expense, in an amount not
to exceed $10,000, for a period lasting not longer than one (1) year after the
Termination Date.

	 	D.	 	Form and Timing of Payments

The timing of all payments to Mr. Murry under this Agreement shall be made in a
manner that complies with Section 409A of the Internal Revenue Code, as amended, and
shall be made as follows:

	 	(i)	 	The Severance Payments under paragraphs 3(A)(1) and 3(A)(2)
shall be payable in two installments. First, a lump sum total of Five Hundred
Thousand Dollars ($500,000) shall be paid within 30 days after the Effective
Date of this Agreement. Second, the balance of money payable to Mr. Murry
under paragraphs 3(A)(1) and 3(A)(2) shall be paid within 30 days after the
first day of the seventh month following the Effective Date.

	 	(ii)	 	The payment described in paragraph 3(A)(3) shall be payable to
Mr. Murry on (a) the date that currently employed executives of Ferro receive
their annual incentive payment for 2012, or (b) within 30 days after the first
day of the seventh month following the Effective Date, whichever occurs later.

	 	(iii)	 	Other than the initial lump sum of Five Hundred Thousand
Dollars ($500,000) described above in paragraph 3(D)(i), no payment of any kind
that would be considered deferred compensation subject to Section 409A of the
Internal Revenue Code shall be payable to Mr. Murry before the first day of the
seventh month after the Effective Date. If any portion of this Agreement is
deemed to be inconsistent with this paragraph 3(D)(iii), then this paragraph
3(D)(iii) shall prevail.

4. Confidentiality, Nondisparagement, Noncompetition, and Nonsolicitation

In consideration of the Enhanced Package, Mr. Murry promises that:

	 	A.	 	For the period beginning on the date Mr. Murry signs this Release Agreement and
ending eighteen (18) months later, Mr. Murry will not use or disclose to any persons
any proprietary or confidential business information or trade secrets concerning Ferro
or any of its affiliated companies (including all subsidiaries), obtained or which came
to Mr. Murry’s attention during the course of his employment with Ferro.

	 	B.	 	For the period beginning on the date Mr. Murry signs this Release Agreement and
ending eighteen (18) months later, Mr. Murry will not make any statements or disclose
any information concerning Ferro, its directors, officers, management, staff,
employees, representatives, or agents (collectively, “Ferro or its management”), which
are likely to disparage Ferro or its management, which are likely to damage the
reputation or business prospects of Ferro or its management, or which are likely to
interfere in any way with the business relations Ferro has with its customers
(including potential customers), suppliers, alliance partners, employees, investors, or
shareholders.

	 	C.	 	For the period beginning on the date Mr. Murry signs this Release Agreement and
ending eighteen (18) months later, Mr. Murry will not, directly or indirectly, engage
in, or assist or have an ownership interest in, or act as an employee, agent, advisor
or consultant of, for, or to any person, firm, partnership, corporation or other entity
that is engaged in, the manufacture or sale of products that compete with Ferro’s
products or any products which are logical extensions, on a manufacturing or
technological basis, of Ferro’s products.

	 	D.	 	For the period beginning on the date Mr. Murry signs this Release Agreement and
ending eighteen (18) months later, Mr. Murry will not, directly or indirectly, attempt
in any way to induce any employee of Ferro or any customer of Ferro to cease employment
or cease doing business with Ferro or to commence employment or commence business
relations with any competitor of Ferro; and, during the same period, Mr. Murry shall
not hire or in any way support or encourage or authorize the hire of any then-current
Ferro employee at any place of employment other than Ferro.

	 	E.	 	Mr. Murry represents and warrants that, from the Termination Date through the
date he signed this Release Agreement, he has not engaged in any activity inconsistent
with the requirements of paragraph 4.

In addition, Mr. Murry hereby reaffirms the commitments made to Ferro in the Confidentiality
Agreement, which are in no way diminished or overridden by the restrictions set forth in
this paragraph 4. This paragraph 4 is not intended to reduce any of the
obligations that the law may impose on former employees, such as any legal obligation not to
disclose trade secrets or other types of confidential information.

5. Waiver

Mr. Murry acknowledges that Ferro is providing the Enhanced Package in lieu of all other
benefits to which he is or may be entitled arising out of his termination of employment.
Mr. Murry hereby waives any and all rights to any other severance benefits offered to Ferro
employees and any other right or benefit under any agreement, understanding, or promise,
whether written or oral, between Mr. Murry and Ferro (or any of the Released Parties, as
defined below). This waiver does not affect Mr. Murry’s right to continuation of coverage
under Ferro’s health insurance plans at his own expense pursuant to any rights Mr. Murry may
have under federal COBRA law or any applicable state law.

6. Release

In consideration of the Enhanced Package, Mr. Murry hereby releases Ferro Corporation and
all of Ferro Corporation’s predecessors, successors, assigns, acquirers, parents, direct and
indirect subsidiaries, affiliates, and all such entities’ officers, directors, agents,
representatives, partners, shareholders, fiduciaries, insurers, attorneys, and employees
(both current and former) (all released entities are collectively referred to as the
“Released Parties”) from any and all claims, demands, actions, causes of action, suits,
damages, losses, costs, interest, attorneys’ fees, and expenses, known or unknown, which Mr.
Murry has or may claim to have against any of the foregoing arising from or relating to his
employment or termination of employment with Ferro.

Mr. Murry acknowledges that the foregoing release includes (but is not limited to) all
claims arising under federal, state, or local law in the United States prohibiting
employment discrimination or retaliation, including, without limitation, the Age
Discrimination in Employment Act of 1967, Title VII of the Civil Rights Act of 1964, the
Civil Rights Act of 1991, the Employee Retirement Income Security Act, the Equal Pay Act, 42
U.S.C. §1981, the Vietnam Era Veterans Readjustment Assistance Act, the Rehabilitation Act
of 1973, the Americans with Disabilities Act, the Family and Medical Leave Act, the Older
Workers Benefit Protection Act, Chapters 4112 and 4113 of the Ohio Revised Code, including
all amendments to all such laws, and all claims under any other federal or state laws, local
ordinances or common law and other laws restricting an employer’s right to terminate the
employment relationship. Mr. Murry further acknowledges that such release includes (but is
not limited to) any claims he may have under any internal grievance procedure at Ferro.

Mr. Murry agrees not to assert any such claims, demands, actions, or causes of action in any
court of law or other judicial or arbitral forum.

The foregoing release does not waive rights or claims that may arise after the date this
Release Agreement is executed. Mr. Murry agrees that he will neither seek nor accept, from
any source whatsoever, any further benefit, payment, or other consideration relating to any
rights or claims that have been released in this Release Agreement.

7. Voluntary Election

Mr. Murry acknowledges that:

	 	A.	 	The only consideration being given for signing this Release Agreement is set
forth herein. In exchange for signing this Release Agreement, Mr. Murry is being
provided consideration to which he would not otherwise be entitled.

	 	B.	 	No other promises or agreements have been made to or with Mr. Murry by any
person or entity to induce Mr. Murry to sign this Release Agreement.

	 	C.	 	Mr. Murry has been given twenty-one (21) calendar days to consider the effect
of this Release Agreement, including the release contained above, before signing this
Release Agreement. By signing below, Mr. Murry expressly acknowledges that he has been
afforded the opportunity to take twenty-one (21) calendar days to consider this Release
Agreement and that his execution of this document is with full knowledge of the
consequences thereof and is of his own free will.

	 	D.	 	Mr. Murry is encouraged to discuss this Release Agreement and any matters
related to the termination of his employment with an attorney of his own choosing. Mr.
Murry acknowledges that, before signing, he has had sufficient opportunity to do so.

	 	E.	 	Mr. Murry may revoke this Release Agreement during the seven-day period
beginning immediately after he signs this Release Agreement. Such revocation must be
made in writing delivered to Ferro at the address listed below before the end of the
seven-day period:

Ferro Corporation

6060 Parkland Boulevard

Mayfield Heights, Ohio 44124

Attention: General Counsel

The “Effective Date” of this Release Agreement will be the day after the seven-day
revocation period has expired. This Release Agreement will be neither effective nor
enforceable before the Effective Date. If timely revoked, all portions of this
Release Agreement will be void.

8. Return of Company Property

Mr. Murry represents that he has (a) returned to Ferro all company property in his
possession, custody, or control, including but not limited to all paper documents,
electronic documents, physical property, or other materials; and (b) deleted all copies he
has of any electronic records or documents of Ferro and agrees that he will not, at any time
in the future, seek to recover or permit recovery of any such deleted files unless required
by law. Mr. Murry certifies that he has not disclosed any Ferro proprietary, confidential,
or trade secret information to anyone outside of Ferro and that he will not do so. If Mr.
Murry has any questions about the scope or applicability of this paragraph, he agrees to
contact the General Counsel’s office at Ferro.

9. Withholding

All payments and all dollar amounts referenced in this Agreement are described in gross, but
shall be subject to withholding, deductions and contributions as required by law.

10. Executive Availability

After the Termination Date, Mr. Murry shall provide reasonable assistance and cooperation to
Ferro (or its affiliates or subsidiaries) concerning business or legal related matters about
which Mr. Murry possesses relevant knowledge or information. Such cooperation will be
provided only at Ferro’s specific request and will include, but not be limited to, assisting
or advising Ferro (or its subsidiaries or affiliates) with respect to any business-related
matters or any actual or threatened legal action (including testifying in depositions,
hearings, and/or trials). Mr. Murry will be reimbursed for the reasonable costs of
providing assistance and cooperation, including, without limitation, reasonable travel and
lodging expenses.

	11.	 	Termination of Change in Control Agreement

In accordance with the provisions of the Change in Control Agreement, the “Term” of the
Change in Control Agreement (as defined therein) expires immediately upon Mr. Murry’s
Termination Date.

12. Governing Law

This Release Agreement will be governed by the internal substantive laws of the State of
Ohio.

13. Breach

Ferro’s obligation to provide separation pay and benefits under this Agreement will cease
immediately if Ferro determines that Mr. Murry failed to comply with any of his obligations
under this Agreement, and Mr. Murry will be required to return to Ferro (with ten (10) days
after request by Ferro) any amounts that Ferro has paid to Mr. Murry under this Agreement
other than the payments described in paragraph 2.

Unless there is a risk of imminent harm to Ferro, Ferro will provide Mr. Murry with at least
three (3) days written notice of any alleged violation or breach of the agreement, so that
he may respond to the allegations prior to Ferro ceasing any payments or benefits, returning
any payments, or taking any legal action under this agreement.

Each party will bear its own costs to resolve any dispute arising under this Agreement.

14. Entire Agreement

This Release Agreement, together with the Confidentiality Agreement, contains the entire
agreement between the parties hereto and replaces any prior agreements, contracts and/or
promises, whether written or oral, with respect to the subject matters included herein.
This Release Agreement may not be changed orally, but only in writing, signed by each of the
parties hereto. This Release Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective heirs, successors, and assigns. 

15. Invalidity

The parties to this Release Agreement agree that the invalidity or unenforceability of any
one provision or part of this Release Agreement will not render any other provision(s) or
part(s) hereof invalid or unenforceable and that the other provision(s) or part(s) will
remain in full force and effect.

1

	 
	By signing this Release Agreement, Mr. Murry affirms that he has read this

Release Agreement carefully, that he knows and understands its contents,

that he is signing this Release Agreement voluntarily, and that signing this

Release Agreement is his own free act and deed.

To evidence their agreement and intention to be bound legally by this document, Michael Murry and
Ferro Corporation have signed and dated this Separation Agreement and Release.

	 	 	 	 	 
	 	 	 	 	Ferro Corporation

	/s/ Michael Murry
	 	By:
	 	/s/ James F. Kirsch

	 
	 	 	 	 

	Michael Murry 
	 	 	 	James F. Kirsch

Chairman, President &

Chief Executive Officer

	Date: October 16, 2012
	 	Date:
	 	October 16, 2012

	 
	 	 	 	 

2Exhibit 10.xx

EXHIBIT 10.xx
    Change in Control Severance Agreement 

This Change in Control Severance Agreement (the “Agreement”) is dated as of September 11, 2012 (the “Effective Date”), by and between Hubbell Incorporated, a Connecticut corporation (the “Company”), and An-Ping Hsieh (the “Executive”). 

WHEREAS, the Company’s Board of Directors (the “Board”) considers the continued services of key executives of the Company to be in the best interests of the Company and its stockholders; 

WHEREAS, the Board desires to assure, and has determined that it is appropriate and in the best interests of the Company and its stockholders to reinforce and encourage, the continued attention and dedication of key executives of the Company to their duties of employment without personal distraction or conflict of interest in circumstances which could arise from the occurrence of a Change in Control (as defined below); 

WHEREAS, the Company’s Board of Directors has authorized the Company to enter into change in control severance agreements with those key executives of the Company and any of its respective subsidiaries (all of such entities, with the Company hereinafter referred to as an “Employer”), such agreements to set forth the severance compensation which the Company agrees under certain circumstances to pay such executives; 

WHEREAS, the Executive is a key executive of an Employer and has been designated by the Board as an executive to be offered such a change in control severance agreement with the Company; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive agree as follows: 

1.	Certain Definitions 

As used in this Agreement, the following terms shall have the following meanings: 

(a)

“Agreement” shall have the meaning set forth in the preamble hereto.

(b)

“Benefit Continuation Period” shall mean the 30 month period immediately following the date of the Qualifying Event.

(c)

“Board” shall have the meaning set forth in the recitals hereto.

(d)

“Bonus” shall mean the average of the actual bonuses paid or payable to the Executive under any Company annual incentive compensation plans for the three consecutive fiscal year period immediately prior to the year in which the Change in Control occurs.

(e)

“Cause” shall mean:

(i)

	the willful and continued failure of the Executive to perform substantially all of his duties with an Employer (other than any such failure resulting from Disability), after a written demand for substantial performance is delivered to the Executive by the Board which specifically identifies the manner in which the Board believes that the Executive has not substantially performed his duties;

(ii)

	the willful engaging by the Executive in gross misconduct which is materially and demonstrably injurious to the Company or any Employer; or

(iii)

	the conviction of, or the plea of guilty or nolo contendere to, a felony;

provided that a termination of the Executive for Cause shall be made by delivery to the Executive of a copy of a resolution duly adopted by the affirmative vote of not less than a three-fourths majority of the non-employee directors of the Company or of the ultimate parent of the entity which caused the Change in Control (if the Company has become a subsidiary) at a meeting of such directors called and held for such purpose, after 30 days prior written notice to the Executive specifying the basis for such termination and the particulars thereof and a reasonable opportunity for the Executive to cure or otherwise resolve the behavior in question prior to such meeting, finding that in the reasonable judgment of such directors, the conduct or event set forth in any of clauses (i), (ii) or (iii) above has occurred and that such occurrence warrants the Executive’s termination. 

(f)

“Change in Control” shall mean any one of the following:

(i)

	Continuing Directors during any 12 month period no longer constitute a majority of the Directors;

(ii)

	any person, or persons acting as a group (within the meaning of Treas. Reg. §1.409A-3(i)(5)(vi)(D)), acquires (or has acquired within the 12 month period ending on the date of the last acquisition by such person or persons), directly or indirectly, thirty percent (30%) or more of the voting power of the then outstanding securities of the Company entitled to vote for the election of Directors; provided that this Section 1(f)(ii) shall not apply with respect to any acquisition of securities by (A) the trust under a Trust Indenture dated September 2, 1957 made by Louie E. Roche, (B) the trust under a Trust Indenture dated August 23, 1957 made by Harvey Hubbell, and (C) any employee benefit plan (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) maintained by the Company or any affiliate of the Company;

(iii)

	any person, or persons acting as a group (within the meaning of Treas. Reg. §1.409A-3(i)(5)(v)(B)), acquires ownership (including any previously owned securities) of more than fifty percent (50%) of either (x) the voting power value of the then outstanding securities of the Company entitled to vote for the election of Directors or (y) the fair market value of the Company; provided that this Section 1(f)(iii) shall not apply with respect to any acquisition of securities by (A) the trust under a Trust Indenture dated September 2, 1957 made by Louie E. Roche, (B) the trust under a Trust Indenture dated August 23, 1957 made by Harvey Hubbell, and (C) any employee benefit plan (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) maintained by the Company or any affiliate of the Company; or

(iv)

	a sale of substantially all of the Company’s assets;

provided that the transaction or event described in Section 1(f)(i), (ii), (iii) or (iv) constitutes a “change in control event” as defined in Treas. Reg. §1.409A-3(i)(5). 

(g)

“Code” shall mean the Internal Revenue Code of 1986, as amended.

(h)

“Company” shall have the meaning set forth in the preamble hereto.

(i)

“Continuing Director” shall mean any individual who is a member of the Board on December 9, 1986 or was designated (before such person’s initial election as a Director) as a Continuing Director by 2/3 of the then Continuing Directors.

(j)

“Director” shall mean an individual who is a member of the Board on the relevant date.

(k)

“Disability” shall mean the Executive’s absence from the full-time performance of the Executive’s duties (as such duties existed immediately prior to such absence) for 180 consecutive business days, when the Executive is disabled as a result of incapacity due to physical or mental illness.

(l)

“Effective Date” shall have the meaning set forth in the preamble hereto.

(m)

“Employer” shall have the meaning set forth in the recitals hereto.

(n)

“Excise Tax” shall have the meaning set forth in Section 7.

(o)

“Executive” shall have the meaning set forth in the preamble hereto.

(p)

“Good Reason” shall mean the occurrence, within the term of this Agreement, of any of the following without the Executive’s express written consent:

(i)

	after a Change in Control, any material reduction in the Executive’s base salary from that which was in effect immediately prior to the Change in Control, any material reduction in the Executive’s annual cash bonus below such bonus paid or payable in respect of the calendar year immediately prior to the year in which the Change in Control occurs, or any material reduction in the Executive’s aggregate annual cash compensation (including base salary and bonus) from that which was in effect immediately prior to the Change in Control;

(ii)

	any material and adverse diminution in the Executives’ duties, responsibilities, status, position or authority with the Company or any of its affiliates following a Change in Control; provided, however, that no such diminution shall be deemed to exist solely because of changes in the Executive’s duties, responsibilities or titles as a consequence of the Company ceasing to be a company with publicly-traded securities or becoming a wholly-owned subsidiary of another company;

(iii)

	any relocation of the Executive’s primary workplace to a location that is more than 35 miles from the Executive’s primary workplace as of the date immediately prior to the Change in Control; or

(iv)

	any failure by the Company to obtain from any successor to the Company an agreement reasonably satisfactory to the Executive to assume and perform this Agreement, as contemplated by Section 13(a) hereof;

provided that, notwithstanding the foregoing, the Executive may not resign his employment for Good Reason unless (x) the Executive provides the Company with at least 30 days prior written notice of his intent to resign for Good Reason (which notice is provided not later than the 60th day following the occurrence of the event constituting Good Reason) and (y) the Company does not cure or resolve the behavior otherwise constituting Good Reason within such 30 day period. 

(q)

“Notice of Termination” shall have the meaning set forth in Section 3(c).

(r)

“Other Agreement” shall have the meaning set forth in Section 12(b).

(s)

“Parachute Value” shall mean of a Payment shall mean the present value as of the date of the Change in Control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined for purposes of determining whether and to what extent the Excise Tax will apply to such Payment.

(t)

“Payment” shall have the meaning set forth in Section 7.

(u)

“Prior Agreement” shall have the meaning set forth in the recitals hereto.

(v)

“Qualifying Event” shall have the meaning set forth in Section 4.

(w)

“Release” shall have the meaning set forth in Section 5(a).

(x)

“Release Expiration Date” shall have the meaning set forth in Section 5(a).

(y)

“Retirement” shall mean the Executive’s voluntary Separation from Service pursuant to late, normal or early retirement under a pension plan sponsored by an Employer, as defined in such plan, but only if such retirement occurs prior to a termination by an Employer without Cause or by the Executive for Good Reason.

(z)

“Safe Harbor Amount” shall mean 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code.

(aa)

“Section 409A” shall mean Section 409A of the Code and the Department of Treasury regulations and other interpretive guidance issued thereunder.

(bb)

“Separation from Service” shall have the meaning set forth in Section 3(b).

(cc)

“Severance Multiple” shall mean 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

(dd)

“Supplemental Retirement Plan” shall mean (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

(ee)

“Target Bonus” shall have the meaning set forth in Section 4(b)(i)(C).

2.	Term 

This Agreement shall become effective on the Effective Date and shall remain in effect until the first anniversary of the Effective Date; provided, however, that this Agreement shall automatically renew on each successive anniversary of the Effective Date unless an Employer provides the Executive, in writing, at least 90 days prior to the renewal date, notice that this Agreement shall not be renewed; provided, further, that such notice of non-renewal may not be provided at any time following the date an agreement is signed by the Company which, if consummated, would result in a Change in Control. Notwithstanding the foregoing, in the event that a Change in Control occurs at any time prior to the termination of this Agreement in accordance with the preceding sentence, this Agreement shall not terminate until the second anniversary of the Change in Control (or, if later, the second anniversary of the consummation of the transaction(s) contemplated in the Change in Control). 

3.	Eligibility for Compensation 

(a)

Change in Control. No compensation or other benefit pursuant to Section 4 hereof shall be payable under this Agreement unless and until either:

(i)

	a Change in Control shall have occurred while the Executive is an employee of an Employer and the Executive’s employment by an Employer thereafter shall have terminated in accordance with Section 3(b)(i) hereof; or

(ii)

	the Executive’s employment by an Employer shall have terminated in accordance with Section 3(b)(ii) hereof prior to the occurrence of a Change in Control.

(b)

Termination of Employment. The Executive shall be entitled to the compensation provided for in Section 4 hereof if:

(i)

	within two years after a Change in Control, the Executive’s employment is terminated (A) by an Employer for any reason other than (I) the Executive’s Disability or Retirement, (II) the Executive’s death or (III) for Cause, or (B) by the Executive with Good Reason; or

(ii)

	(A) an agreement is signed which, if consummated, would result in a Change in Control, (B) the Executive’s employment is terminated by an Employer without Cause or by the Executive with Good Reason prior to the consummation of such Change in Control, (C) the Executive’s termination of employment is at the direction of the acquiror or merger partner or otherwise in connection with the anticipated Change in Control, and (D) such Change in Control actually occurs;

provided that the Executive’s termination of employment described in Section 3(b)(i) or 3(b)(ii) constitutes a “separation from service” (within the meaning of Treas. Reg. §1.409A-1(h)) (a “Separation from Service”). 

(c)

Notice of Termination. Any purported termination of the Executive’s employment (other than on account of the Executive’s death) with an Employer shall be communicated by a Notice of Termination to the Executive, if such termination is by an Employer, or to an Employer, if such termination is by the Executive. For purposes of this Agreement, “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to be a basis for termination of the Executive’s employment under the provisions so indicated. For purposes of this Agreement, no purported termination of the Executive’s employment with an Employer shall be effective without such a Notice of Termination having been given.

4.	Compensation upon Qualifying Termination 

Subject to the Executive’s execution and non-revocation of a Release pursuant to Section 5(a), upon the date of (x) the Executive’s termination of employment pursuant to Section 3(b)(i) or (y) the consummation of a Change in Control pursuant to Section 3(b)(ii) (each, a “Qualifying Event”), the Executive shall become entitled to receive the following payments and benefits at the time set forth in Section 5(b): 

(a)

Severance. The Company shall pay or cause to be paid to the Executive a cash severance amount equal to the product of (i) the Severance Multiple and (ii) the sum of (A) the Executive’s annual base salary on the date of the Change in Control (or, if higher, the annual base salary in effect immediately prior to the giving of the Notice of Termination), and (B) the Executive’s Bonus. This cash severance amount shall be payable in a lump sum calculated without any discount.

(b)

Additional Payments and Benefits. The Executive shall also be entitled to receive:

(i)

	a lump-sum cash payment equal to the sum of (A) the Executive’s accrued but unpaid base salary through the date of Separation from Service, (B) the unpaid portion, if any, of bonuses previously earned by the Executive pursuant to any Company annual incentive compensation plans, (C) the pro rata portion of 100% of the Executive’s then-current target bonus (as previously established by the Compensation Committee) (the “Target Bonus”), calculated through the date of the Qualifying Event, and (D) an amount equal to any accrued vacation pay, in each case in full satisfaction of the Executive’s rights thereto;

(ii)

	a lump-sum cash payment equal to the excess of (A) the present value of the payments that the Executive would be entitled to receive under the Supplemental Retirement Plans in which the Executive is eligible to participate immediately prior to the Qualifying Event, assuming that the Executive receives (1) additional service credit for purposes of eligibility, vesting and benefit accrual under such Supplemental Retirement Plans, to the extent applicable, with respect to the number of months equal to the Benefit Continuation Period and (2) additional age credit under such Supplemental Retirement Plans with respect to the number of months equal to the Benefit Continuation Period solely to the extent applicable for purposes of calculating any early retirement reduction (in each case, calculated using the assumptions set forth under such Supplemental Retirement Plans) over (B) the present value of the payments that the Executive would be entitled to receive under such Supplemental Retirement Plans absent the additional service and age credit credited pursuant to Sections 4(b)(ii)(A)(1) and (2);

(iii)

	continued medical, dental, vision and life insurance coverage (excluding accident, death and disability insurance) for the Executive and the Executive’s eligible dependents or, to the extent such coverage is not commercially available, such other arrangements reasonably acceptable to the Executive, on the same basis as in effect immediately prior to the Change in Control or the Qualifying Termination, whichever is deemed to provide for more substantial benefits, during the Benefit Continuation Period; provided that the amount of benefits the Executive receives in any one year shall not affect the amount of benefits he may receive in any subsequent year; and

(iv)

	all other accrued or vested benefits and any compensation previously deferred in accordance with the terms of the applicable plan.

(c)

Outplacement. If so requested by the Executive, outplacement services shall be provided for a period of one year by a professional outplacement provider selected by the Executive; provided, however, that such outplacement services shall be provided to the Executive at a cost to the Company of not more than fifteen percent (15%) of the Executive’s annual base salary immediately prior to the Qualifying Event.

5.	Release; Timing of Payment; Withholding 

(a)

	Payments and benefits provided pursuant to Section 4 are conditioned on the Executive’s execution and non-revocation of a release of claims agreement and covenant not to sue in substantially the form attached hereto as Exhibit A (a “Release”). The Company shall deliver the Release to the Executive within seven (7) days following the date of the Qualifying Event (and the Company’s failure to deliver a Release prior to the expiration of such seven (7) day period shall constitute a waiver of any requirement to execute a Release) and the Executive shall be required to execute the Release on or prior to the Release Expiration Date. If the Executive fails to execute the Release on or prior to the Release Expiration Date or timely revokes his acceptance of the Release thereafter, the Executive shall not be entitled to receive any of the payments and benefits provided pursuant to Section 4. For purposes of this Agreement, “Release Expiration Date” shall mean the date that is 21 days following the date upon which the Company timely delivers the Release to the Executive, or, in the event that the Executive’s termination of employment is “in connection with an exit incentive or other employment termination program (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is 45 days following such delivery date.

(b)

	Except as otherwise provided in Section 10, all lump sum payments under Section 4 shall be paid on the first payroll date to occur on or after the 60th day following the Qualifying Event. For the avoidance of doubt, to the extent that the Executive is entitled to receive any lump sum payments with reference to any Supplemental Retirement Plans in connection with the Qualifying Event, pursuant to Section 4(b)(ii), the present value of his Supplemental Retirement Plan benefit(s) shall be calculated under the terms of the applicable Supplemental Retirement Plans and, for purposes of determining the lump-sum payment under Section 4(a)(ii), such calculation of present value shall include any additional age and service credit provided pursuant to Section 4(b)(ii).

(c)

	Payments and benefits provided pursuant to Section 4 shall be subject to any applicable payroll and other taxes required to be withheld.

6.	Compensation upon Death, Disability or Retirement 

If the Executive’s employment is terminated by reason of death, Disability or Retirement prior to any other termination, the Executive will be entitled to receive: 

(a)

	the sum of (i) the Executive’s accrued but unpaid salary through the date of such termination, (ii) a pro-rata portion of the Executive’s Target Bonus for the year in which the Executive’s employment is terminated due to death or Disability (calculated through the date of such termination), and (iii) an amount equal to any accrued vacation pay; and

(b)

	other accrued or vested benefits and any compensation previously deferred in accordance with the terms of the applicable plans.

7.	Excess Parachute Payments 

If it is determined (as hereafter provided) that any payment or distribution by the Company or any Employer to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program or arrangement, including without limitation any stock option, stock appreciation right or similar right, or the lapse or termination of any restriction on or the vesting or exercisability of any of the foregoing (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code (or any successor provision thereto) by reason of being “contingent on a change in ownership or control” of the Company, within the meaning of Section 280G of the Code (or any successor provision thereto) or to any similar tax imposed by state or local law, or any interest or penalties with respect to such excise tax (such tax or taxes, together with any such interest or penalties, are hereafter collectively referred to as the “Excise Tax”), then, in the event that the after-tax value of all Payments to the Executive (such after-tax value to reflect the deduction of the Excise Tax and all income or other taxes on such Payments) would, in the aggregate, be less than the after-tax value to the Executive of the Safe Harbor Amount, (a) the cash portions of the Payments payable to the Executive under this Agreement shall be reduced, in the order in which they are due to be paid, until the Parachute Value of all Payments paid to the Executive, in the aggregate, equals the Safe Harbor Amount, and (b) if the reduction of the cash portions of the Payments, payable under this Agreement, to zero would not be sufficient to reduce the Parachute Value of all Payments to the Safe Harbor Amount, then any cash portions of the Payments payable to the Executive under any other agreements, policies, plans, programs or arrangements shall be reduced, in the order in which they are due to be paid, until the Parachute Value of all Payments paid to the Executive, in the aggregate, equals the Safe Harbor Amount, and (c) if the reduction of all cash portions of the Payments, payable pursuant to this Agreement or otherwise, to zero would not be sufficient to reduce the Parachute Value of all Payments to the Safe Harbor Amount, then non-cash portions of the Payments shall be reduced, in the order in which they are due to be paid, until the Parachute Value of all Payments paid to the Executive, in the aggregate, equals the Safe Harbor Amount. All calculations under this section shall be determined by the Company and the Company’s outside auditors. 

8.	Expenses 

In addition to all other amounts payable to the Executive under this Agreement, during the term of this Agreement and for a period of twenty (20) years following the Qualifying Event, the Company shall pay or reimburse the Executive for legal fees (including, without limitation, any and all court costs and attorneys’ fees and expenses) incurred by the Executive in connection with or as a result of any claim, action or proceeding brought by the Company or the Executive with respect to or arising out of this Agreement or any provision hereof; provided, however, that in the case of an action brought by the Executive, the Company shall have no obligation for any such legal fees if the Company is successful in establishing with the court that the Executive’s action was frivolous or otherwise without any reasonable legal or factual basis. All such expenses shall be reimbursed by December 31 of the year following the year in which the expense was incurred. The amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year. 

9.	Offsets 

Notwithstanding anything to the contrary in this Agreement, to the extent that the Executive receives severance or similar payments and/or benefits under any other Company plan, program, agreement, policy, practice or arrangement, or under the WARN Act or similar state law, the payments and benefits due to the Executive under this Agreement will be correspondingly reduced on a dollar-for-dollar basis. 

10.	Section 409A Delay 

Notwithstanding anything to the contrary in this Agreement, if the Company determines that the Executive is deemed at the time of his Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of the payment of any portion of the amounts to which the Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then such portion shall not be provided to the Executive prior to the earlier of (a) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (b) the date of the Executive’s death. Upon the expiration of the applicable deferral period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 10 shall be paid in a lump sum to the Executive, plus interest thereon from the date of the Executive’s Separation from Service through the payment date at a rate equal to the prime rate of interest as reported in the Wall Street Journal from time to time. Any remaining payments due under this Agreement shall be paid as otherwise provided herein. 

11.	Obligations Absolute; Non-Exclusivity of Rights; Joint and Several Liability 

(a)

	The obligations of the Company to make the payment to the Executive and to make the arrangements provided for herein shall be absolute and unconditional and, except as provided in Section 7 or 9, shall not be reduced by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or any third party at any time.

(b)

	Nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any other Employer and for which the Executive may qualify, nor shall anything herein limit or reduce such rights as the Executive may have under any agreements with the Company or any other Employer.

(c)

	Each entity included in the definition of “Employer” and any successors or assigns shall be jointly and severally liable with the Company under this Agreement.

12.	Not an Employment Agreement; Effect on Other Rights 

(a)

	This Agreement is not, and nothing herein shall be deemed to create, a contract of employment between the Executive and the Company. Any Employer may terminate the employment of the Executive at any time, subject to the terms of this Agreement and/or any employment agreement or arrangement between an Employer and the Executive that may then be in effect.

(b)

	With respect to any employment agreement with the Executive in effect immediately prior to a Change in Control, nothing herein shall have any effect on the Executive’s rights thereunder; provided, however, that in the event of the Executive’s termination of employment in accordance with Section 3(b) hereof, this Agreement shall govern solely for the purpose of providing the terms of all payments and additional benefits to which the Executive is entitled upon such termination and any payments or benefits provided under any employment agreement with the Executive in effect immediately prior to the Change in Control shall reduce the corresponding type of payments or benefits hereunder. Notwithstanding the foregoing, in the event that the Executive’s employment is terminated prior to the occurrence of a Change in Control under the circumstances provided for in Section 3(b)(ii) and such circumstances also entitle the Executive to payments and benefits under any other employment or other agreement as in effect prior to the Change in Control (and “Other Agreement”), then, until the Change in Control occurs, the Executive will receive the payments and benefits to which he is entitled under such Other Agreement. Upon the occurrence of the Change in Control, the Company will pay to the Executive in cash the amount to which he is entitled under this Agreement (reduced by the amounts already paid under the Other Agreement) in respect of cash payments and shall provide or increase any other noncash benefits to those provided for hereunder (after taking into account noncash benefits, if any, provided under such Other Agreement). Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan or program of the Company or any other Employer shall be payable in accordance with such plan or program, except as explicitly modified by this Agreement.

13.	Successors; Binding Agreement; Assignment 

(a)

	The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business of the Company, by agreement to expressly, absolutely and unconditionally assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle the Executive to terminate the Executive’s employment with the Company or such successor for Good Reason immediately prior to or at any time after such succession. Upon and following the assumption of this Agreement by a successor, “Company,” as used in this Agreement, shall mean (i) the Company (as defined above), and (ii) any successor to all the stock of the Company or to all or substantially all of the Company’s business or assets which executes and delivers an agreement provided for in this Section 13(a) or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law, including any parent or subsidiary of such a successor.

(b)

	This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. If the Executive should die while any amount would be payable to the Executive hereunder if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Executive’s estate or designated beneficiary. Neither this Agreement nor any right arising hereunder may be assigned or pledged by the Executive.

14.	Notice 

For purposes of this Agreement, notices and all other communications provided for in this Agreement or contemplated hereby shall be in writing and shall be deemed to have been duly given when personally delivered, delivered by a nationally-recognized overnight delivery service or when mailed United States certified or registered mail, return receipt requested, postage prepaid, and addressed, in the case of the Company, to the Company at: 

HUBBELL INCORPORATED

40 Waterview Drive 

P.O. Box 1000 

Shelton, Connecticut 06484 

Attention: General Counsel 

and, in the case of the Executive, to the Executive at the address set forth on the execution page at the end hereof. 

Either party may designate a different address by giving notice of change of address in the manner provided above, except that notices of change of address shall be effective only upon receipt. 

15.	Restrictive Covenants; Confidentiality 

(a)

	All payments and benefits provided under Section 4 are conditioned on and subject to the Executive’s continuing compliance with this Agreement and any other agreements regarding non-competition and non-solicitation of employees and customers.

(b)

	The Executive shall retain in confidence any and all confidential information concerning the Company and its respective business which is now known or hereafter becomes known to the Executive, except as otherwise required by law and except information (i) ascertainable and easily obtained from public information, (ii) received by the Executive at any time after the Executive’s employment by the Company shall have terminated, from a third party not employed by or otherwise affiliated with the Company, or (iii) which is or becomes known to the public by any means other than a breach of this Section 15(b). Upon the termination of his employment, the Executive will not take or keep any proprietary or confidential information or documentation belonging to the Company.

16.	Entire Agreement; Amendments; No Waiver 

(a)

	This Agreement contains the entire understanding of the parties with respect to the subject matter described herein, and no agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The Executive represents and agrees that this Agreement supersedes the Prior Agreement, which shall no longer be in force or have any effect.

(b)

	No provision of this Agreement may be amended, altered, modified, waived or discharged unless such amendment, alteration, modification, waiver or discharge is agreed to in writing and signed by the Executive and such officer of the Company as shall be specifically designated by the Board.

(c)

	No waiver by either party, at any time, of any breach by the other party of, or of compliance by the other party with, any condition or provision of this Agreement to be performed or complied with by such other party shall be deemed a waiver of any similar or dissimilar provision or condition of this Agreement or any other breach of or failure to comply with the same condition or provision at the same time or at any prior or subsequent time.

17.	Severability 

If any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. To the extent permitted by applicable law, each party hereto waives such provision of law which renders any provision of this Agreement invalid, illegal or unenforceable. 

18.	Governing Law; Venue 

The validity, interpretation, construction and performance of this Agreement shall be governed on a non-exclusive basis by the laws of the State of Connecticut without giving effect to its conflict of laws rules. For purposes of jurisdiction and venue, the Company and each Employer hereby consents to jurisdiction and venue in any suit, action or proceeding with respect to this Agreement in any court of competent jurisdiction in the sate in which the Executive resides at the commencement of such suit, action or proceeding and waives any objection, challenge or dispute as to such jurisdiction or venue being proper. 

19.	Section 409A Compliance 

To the extent applicable, this Agreement shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company determines that any compensation or benefits payable under this Agreement will be immediately taxable to the Executive under Section 409A, the Company reserves the right (without any obligation to do so or to indemnify the Executive for failure to do so) to (a) adopt such amendments to this Agreement and appropriate policies and procedures, including amendments, policies and procedures with retroactive effect, that the Company determines to be necessary or appropriate to preserve the intended tax treatment of the benefits provided by this Agreement, to preserve the economic benefits of this Agreement and to avoid less favorable accounting or tax consequences for the Company and/or (b) take such other actions as the Company determines to be necessary or appropriate to exempt the amounts payable hereunder from Section 409A or to comply with the requirements of Section 409A and thereby avoid the application of penalty taxes thereunder. No provision of this Agreement shall be interpreted or construed to transfer any liability for failure to comply with Section 409A from the Executive or any other individual to the Company or any of its affiliates, employees or agents. 

20.	Counterparts 

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall be deemed to constitute one and the same instrument. 

IN WITNESS WHEREOF, the parties hereto have executed this Change in Control Severance Agreement as of the date first above written. 

	

HUBBELL INCORPORATED

	

 

	

EXECUTIVE

	

 

	

 

	

 

	

By: /s/ Stephen M. Mais

	

 

	

By: /s/ An-Ping Hsieh

	

Stephen M. Mais

	

 

	

An-Ping Hsieh

	

Vice President, Human Resources

	

 

	

 

EXHIBIT A
    Waiver and Release of Claims Agreement 

[__________] (the “Releasor”) on behalf of himself and his spouse and child or children (if any), and his heirs, beneficiaries, devisees, executors, administrators, attorneys, personal representatives, successors and assigns, hereby forever releases and discharges Hubbell Incorporated, a Connecticut corporation (the “Company”), and any of its past, present, or future parent, affiliated, related, and/or subsidiary entities, and all of the past and present directors, shareholders, officers, general or limited partners, members, employees, agents, attorneys, advisors, representatives, successors and assigns of such entities, and employee benefit plans in which the Releasor is or has been a participant by virtue of his employment with the Company (collectively, the “Releasees”), from, and covenants not to sue any of the Releasees with respect to, any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), which the Releasor has or may have had against such Releasees or any of them arising out of, resulting from, relating to, based upon or otherwise in connection with, in whole or in part, any events or circumstances arising or occurring on or prior to the date this Waiver and Release of Claims Agreement (the “Release”) is executed, including, without limitation, any and all Claims directly or indirectly arising out of, relating to or in any other way involving in any manner whatsoever (a) the Releasor’s employment with the Company or its subsidiaries or the termination thereof, (b) the Releasor’s status at any time as a holder of any securities of the Company and (c) any and all Claims arising under federal, state, or local laws relating to employment, or securities, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, claims of any kind that may be brought in any court or administrative agency, any claims arising under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Sarbanes-Oxley Act, and similar state or local statutes, ordinances, and regulations; provided, however, notwithstanding anything to the contrary set forth herein, that this general release shall not extend to benefit claims under employee benefit plans in which the Releasor is a participant by virtue of his employment with the Company or its subsidiaries. 

The Releasor understands that this Release includes a release of claims arising under the Age Discrimination in Employment Act (ADEA). The Releasor understands and warrants that he has been given a period of 21 days to review and consider this release. The Releasor further warrants that he understands that he may use as much or all of his 21-day period as he wishes before signing, and warrants that he has done so. The Releasor further warrants that he understands that, with respect to the release of age discrimination claims only, he has a period of seven days after executing on the second signature line below to revoke the release of age discrimination claims by notice in writing to the Company. 

The Releasor is hereby advised to consult with an attorney prior to executing this Release. By his signature below, the Releasor warrants that he has had the opportunity to do so and to be fully and fairly advised by that legal counsel as to the terms of this Release. 

ACKNOWLEDGEMENT (AS TO ALL CLAIMS OTHER THAN AGE DISCRIMINATION CLAIMS) 

The undersigned, having had full opportunity to review this Release with counsel of his choosing, signifies his agreement to the terms of this Release (other than as it relates to age discrimination claims) by his signature below. 

	

 

	

 

	

 

	

[Releasor]

	

 

	

Date

ACKNOWLEDGEMENT (AGE DISCRIMINATION CLAIMS) 

The undersigned, having had full opportunity to review this release with counsel of his choosing, signifies his agreement to the terms of this release (as it relates to age discrimination claims) by his signature below. 

	

 

	

 

	

 

	

[Releasor]

	

 

	

Date

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