Document:

Termination Agreement dated October 30, 2008

 Exhibit 10.57 
 

 
 LCH.CLEARNET LIMITED 
 AND 
 LIFFE ADMINISTRATION AND MANAGEMENT 
  
  
 TERMINATION AGREEMENT 
  
  

 THIS AGREEMENT is made on the 30th day of October 2008 
 BETWEEN 
  

	(1)	LCH.Clearnet Limited (“LCH”) whose registered office is at Aldgate House, 33 Aldgate High Street, London EC3N 1EA, UK; and 

  

	(2)	LIFFE Administration and Management (“LIFFE”) whose registered office is at Cannon Bridge House, 1 Cousin Lane, London EC4R 3XX, 

 (each a “Party” and, together, the “Parties”). 
 WHEREAS: 
  

	(A)	LCH is currently appointed by LIFFE to act as clearing house to the LIFFE Markets pursuant to the Current Clearing Terms. 

  

	(B)	LIFFE wishes and LCH has agreed to terminate the Current Clearing Terms as of the Commencement Date on the terms of this Agreement. 

  

	(C)	LIFFE’s proposed termination would be contrary to and in breach of the terms regarding termination set out in the Current Clearing Terms. 

  

	(D)	The Parties wish finally and forever to resolve any claims between them arising out of the termination of the Current Clearing Terms under this Agreement. 

IT IS HEREBY AGREED AS FOLLOWS: 
  

	1.	INTERPRETATION 

  

	1.1	Unless otherwise expressly stated in this Agreement (or the context otherwise requires): 

 “Claim” means in relation to or arising from the Current Clearing Terms, each and any claim or counter-claim of whatsoever nature and kind, set-off, cause, right of action, demand or proceeding, at
law or in equity, howsoever arising, in any jurisdiction whatsoever, including interest and costs, whether secured, proprietary, by way of tracing, priority, contribution, subrogation or otherwise, known or unknown to the Parties, and whether or not
presently known to the law, arising before or after the date of this Agreement, and whether against either of the Parties, or their present and former agents, associated companies, partners, directors, and employees, whether for damages or
otherwise, and whether or not such claims or alleged claims have to date been asserted either formally or informally, directly or indirectly, expressly or impliedly) arising in any manner whatsoever; 
 “Clearing Relationship Agreement” means the agreement between LCH and LIFFE for the provision to LIFFE of default management, risk
management, settlement and ancillary services by LCH, dated on or about the date of this Agreement; 
 “Commencement Date”
has the meaning given in the Clearing Relationship Agreement; 

 “Current Clearing Terms” means the terms on which LCH, immediately prior to the
Commencement Date, acts as the clearing house to the LIFFE markets, being a clearing agreement dated 7 June 1988 as amended by the letter of 16 July 1996 entered into between LIFFE and LCH and any and all ancillary agreements relating to
the basis on which LCH acts as the clearing house to the LIFFE markets; 
 “Losses” means all losses, damages, interest,
claims, costs and expenses, awards, judgments, penalties and all other liabilities; 
 “Preserved Claims” means: (i) any
claim notified in writing by one Party to the other Party prior to the date falling one year after the Commencement Date and which arises out of circumstances which are not known and could not reasonably have been known by the notifying Party as at
the date hereof; and (ii) any claim in relation to the arbitration notified to the [*] in respect of a dispute regarding a [*] pursuant to a LIFFE contract; (iii) any claims in relation to the [*] arbitrations (arising, respectively, in
[*]) arising in respect of disputes pursuant to LIFFE contracts; and (iv) any other claims in relation to any other arbitration in respect of disputes pursuant to LIFFE contracts notified by LCH to the Market Secretary of LIFFE before the date
of this Agreement; and 
 “Settlement Sum” has the meaning given in Clause 4.1. 
  

	1.2	In this Agreement: 

  

	 	1.2.1	references to Clause headings are for ease of reference only and shall not affect the interpretation of this Agreement; 

  

	 	1.2.2	a reference to a Clause, unless the context otherwise requires, is a reference to a Clause of this Agreement; 

  

	 	1.2.3	the singular includes the plural and vice versa, unless the context otherwise requires; 

  

	 	1.2.4	references to statutes, statutory instruments, regulations, rules, or provisions thereof are to those statutes, statutory instruments, regulations, rules, or provisions thereof, as
amended, modified or replaced from time to time; 

  

	 	1.2.5	references to a “person” include any firm, company, corporation, body, association or partnership (whether or not having separate legal personality) or any combination of
the foregoing; 

  

	 	1.2.6	references to the words “includes” and “including” shall be construed without limitation; 

  

	 	1.2.7	any reference to any English legal term for any action, remedy, method of judicial proceeding, legal document, legal status, court official or any other legal concept is, in respect
of any jurisdiction other than England, deemed to include the legal concept or term which most nearly approximates in that jurisdiction to the English legal term; and 

  
  

	*	Certain confidential information has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on confidential basis with
the Securities and Exchange Commission pursuant to a request for confidential treatment. 

	 	1.2.8	references to “writing” or “written” include any non-transient means of representing or copying words legibly, including by facsimile or electronic mail.

  

	1.3	Any term not otherwise defined in this Agreement shall bear the meaning attributed to it in the Clearing Relationship Agreement. 

  

	2.	TERMINATION OF CURRENT CLEARING TERMS 

  

	2.1	The Parties hereby acknowledge and agree that Clause 18.1 of the Current Clearing Terms permits either of LCH and LIFFE to terminate the Current Clearing Terms by giving to the
other party not less than 36 months’ notice in writing of termination. Notwithstanding the foregoing, LIFFE proposes and LCH agrees that this Agreement constitutes valid notice of termination of the Current Clearing Terms subject to the terms
and conditions set out herein. 

  

	2.2	Notwithstanding the provisions of the Current Clearing Terms, LIFFE hereby wishes and LCH hereby agrees to terminate the Current Clearing Terms in their entirety, and to mutually
release and discharge each other from their obligations thereunder, as of the Commencement Date, subject to the terms of this Agreement and in particular to the conditions referred to in Clause 3.1 below. The Parties further agree that Clause 11 of
the Current Clearing Terms shall not apply to the amendment of the respective Parties’ rules, regulations and procedures which will be required to be made prior to the Commencement Date. 

  

	2.3	In consideration for the mutual obligations set out in this Agreement, and in particular the payment undertaking set out in Clause 4 below, and subject to the limitations set out in
Clause 2.4 below and the conditions referred to in Clause 3.1 below, without any admissions whether of liability or of obligation or of fact of any nature or kind whatsoever, any Claim (save for any Preserved Claims) arising out of or in connection
with the Current Clearing Terms that the Parties or any of their respective Affiliates, whether jointly or severally, have now or may have, against each other or any of their respective Affiliates, whether jointly or severally, are hereby fully and
finally settled, waived and abandoned by the Parties, to be replaced by the rights arising under this Agreement. Each Party agrees on behalf of itself and its Affiliates not to sue, commence, voluntarily aid in any way, prosecute or cause to be
commenced or prosecuted against the other Party or its Affiliate any action, suit or other proceeding concerning any such Claim, in this jurisdiction or any other. 

  

	2.4	This Agreement shall not release the Parties from the obligations of confidentiality and obligations relating to record keeping expressed to be assumed by the Parties to each other
under the Current Clearing Terms and such obligations shall continue in force notwithstanding this Agreement. 

  

	3.	CONDITIONS PRECEDENT 

  

	3.1	The termination of the Current Clearing Terms and the waiver and release in each case pursuant to Clause 2 (Termination of Current Clearing Terms) and the payment undertaking
in Clause 4 (LIFFE Payment Undertaking) will only take effect on the fulfilment at all times of the conditions set out in Clause 3.3 and is conditional upon such conditions being fulfilled to the reasonable satisfaction of the relevant Party
or Parties (or waived by written agreement of such Party or Parties) by 30 September 2009 (or such later date as the Parties may agree in writing) (the “Longstop Date”). 

	3.2	Each party shall use all reasonable endeavours to fulfil and maintain each of the conditions set out in Clause 3.3 as soon as reasonably practicable before the Commencement Date.

  

	3.3	The conditions referred to in Clause 3.1 are as follows: 

  

	 	3.3.1	That LCH has approached HM Revenue & Customs to obtain a written ruling on whether VAT is to be charged (or otherwise) on the Settlement Sum and has received such ruling
and shared it with LIFFE; and 

  

	 	3.3.2	the execution of, and the fulfilment (or waiver, as the case may be) of the conditions set out in Clause 3.3 of, the Clearing Relationship Agreement, but for the requirement to
fulfil or waive the conditions precedent set out in this Agreement, and the commencement of the LCH Services. 

  

	3.4	This Agreement shall terminate if the conditions above are not satisfied by the Longstop Date. However, termination does not affect a Party’s accrued rights and obligations
under this Agreement as at the date of termination. 

  

	4.	LIFFE PAYMENT UNDERTAKING 

  

	4.1	Subject to satisfaction of the conditions referred to in Clause 3.1 above, LIFFE shall pay to LCH in full and final settlement of any claims or counterclaims arising out of the
termination of the Current Clearing Terms the Settlement Sum, being an amount calculated as follows (where CTR is the rate of UK corporation tax on income applicable to LIFFE at the Commencement Date, expressed as a percentage):

 

 
 Such sum shall be paid by way of compensation for economic losses arising as a result of termination of
the Current Clearing Terms on the Commencement Date. The Parties further agree that the Settlement Sum does not represent consideration in respect of any goods or services supplied or to be supplied by LCH to LIFFE. 
  

	4.2	The Settlement Sum shall be payable by way of a single lump sum payment, on the Commencement Date, or as may be otherwise agreed between the Parties in writing.

  

	4.3	To the extent that LIFFE should in breach of this Agreement fail to pay the Settlement Sum by 30 days after payment is due, interest on any unpaid amount shall accrue and be payable
by LIFFE at Euribor plus 2% per annum. Such accrued interest will form a part of the Settlement Sum and be treated as such for the purposes of this Agreement. 

  

	5.	TAXATION 

  

	5.1	The Settlement Sum is exclusive of VAT. 

  

	5.2	 The Parties take the view that the Settlement Sum does not represent consideration for any supply of goods or services within the scope of VAT and have requested a
clearance 

	 	 
from HM Revenue & Customs to this effect. However, in the event that HM Revenue & Customs issue a final ruling that VAT is chargeable on
the Settlement Sum the parties will work together and use their best endeavours to secure a mutually acceptable outcome. 

  

	5.3	If, notwithstanding Clause 5.2 above, VAT is or becomes chargeable on the Settlement Sum then it is agreed that LIFFE shall pay an additional amount equal to such VAT to LCH on
receipt of a valid VAT invoice. LIFFE shall also be liable for any interest or penalties payable by LCH to HM Revenue & Customs as a result of the late payment of any VAT chargeable on the Settlement Sum. 

  

	6.	CONFIDENTIALITY 

 The existence and terms of this
Agreement shall be kept subject to the same confidentiality provisions as set out in clause 25 of the Clearing Relationship Agreement (the “Confidentiality Provisions”), save that this Agreement shall be construed as an
“Agreement” for the purposes of the Confidentiality Provisions. 
  

	7.	GENERAL 

  

	7.1	The Parties confirm that up to the time and date of this Agreement, there has been no assignment of any rights, claims or causes of action in relation to the Current Clearing Terms.

  

	7.2	This Agreement and its terms and provisions are made and agreed without any admissions by the Parties of liability, obligation or fact of any nature or kind whatsoever save as is
set out expressly in this Agreement. 

  

	7.3	The Parties represent and warrant to each other that they each have the capacity, power and authority to enter into and perform this Agreement and that they have authorised each of
the individuals named below to sign this agreement on behalf of the company set against each name, and that this Agreement gives rise to legal, valid, binding and enforceable obligations on the relevant Party. 

  

	8.	AMENDMENTS TO AGREEMENT 

  

	8.1	The Parties may, by written instrument signed by their duly authorised representatives, at any time agree to extend, modify or alter whether in whole or in part this Agreement.

  

	8.2	No variation of this Agreement shall be valid unless it is in writing and signed by or on behalf of the Parties to it. 

  

	8.3	Unless expressly agreed, no variation of any provision of this Agreement whether express or otherwise shall constitute a general waiver of any other provision of this Agreement, nor
shall it affect any rights, obligations or liabilities under or pursuant to this Agreement which have already accrued up to the date of variation, and the rights and obligations of the Parties under or pursuant to this Agreement shall remain in full
force and effect, except and only to the extent that they are so varied. 

	9.	SEVERABILITY 

 If any provision of this Agreement is
held to be invalid or unenforceable, then that provision shall (to the extent that it is invalid or unenforceable) be of no effect and shall be deemed not to be included in this Agreement but without invalidating any of the remaining provisions of
this Agreement. The Parties shall then use all reasonable endeavours to replace the invalid or unenforceable provisions by a valid and enforceable substitute provision the effect of which is as close as possible to the intended effect of the invalid
or unenforceable provision. 
  

	10.	WAIVERS 

 No failure in exercising any right or
remedy provided by this Agreement shall operate as a waiver or release thereof or prejudice any other or further exercise of rights and remedies hereunder. The rights and remedies herein are cumulative and are not exclusive of any rights or remedies
provided by applicable law. No single or partial exercise of a right or remedy provided by this Agreement or by law prevents further exercise of the right or remedy or the exercise of another right or remedy. 
  

	11.	ENTIRE AGREEMENT 

  

	11.1	This Agreement sets out the entire agreement and understanding between the Parties in respect of the subject matter of this Agreement. It is agreed that: 

 

	 	11.1.1	no Party has entered into this Agreement in reliance upon any representation, warranty or undertaking of the other party which is not expressly set out or referred to in this
Agreement; 

  

	 	11.1.2	no Party shall have any remedy in respect of misrepresentation or untrue statement made by the other party which is not contained in this Agreement nor for any breach of warranty
which is not contained in this Agreement; and 

  

	 	11.1.3	this Agreement shall not exclude any liability for fraud or fraudulent misrepresentation. 

  

	12.	COSTS 

 Except as expressly provided otherwise in
this Agreement, each Party will bear and pay its own legal and other costs in relation to the matters covered by this Agreement. 
  

	13.	NOTICES; NUMBER OF COUNTERPARTS 

  

	13.1	The provisions of Clause 35 (Notices) of the Clearing Relationship Agreement shall apply mutatis mutandis to this Agreement. 

  

	13.2	This Agreement may be executed by the Parties to it on separate counterparts, each of which is an original but both of which together constitute one and the same instrument.

  

	14.	THIRD PARTY RIGHTS 

 A person who is not a party to
this Agreement does not have any right under the Contracts (Rights of Third Parties) Act 1999 to rely on or enforce any provision any of its terms. 

	15.	GOVERNING LAW AND JURISDICTION 

  

	15.1	This Agreement and all non-contractual obligations arising out of or in connection with it are governed by English law. 

  

	15.2	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute relating to the existence, validity
or termination of this Agreement or any non-contractual obligation arising out of or in connection with this Agreement) or the consequences of its nullity. 

 IN WITNESS WHEREOF the undersigned have executed this agreement as of the day first above written and hereby
warrant to each other that they have read the foregoing, understand its contents and that the execution of this Agreement is fully and properly authorised by them. 
  

			
	By:	 	  

	Name:	 	
	Position:	 	
	
	Duly Authorised Signatory for
	LIFFE ADMINISTRATION AND MANAGEMENT
		
	By:	 	  

	Name:	 	
	Position:	 	
	
	Duly Authorised Signatory for
	LCH.CLEARNET LIMITED
		
	By:	 	  

	Name:	 	
	Position:	 	
	
	Duly Authorised Signatory for
	LCH.CLEARNET LIMITEDSeparation Agreement dated February 25, 2009

 Exhibit 10.58 
 25 February 2009 
 Dear Hugh 
 I am writing to set
out the terms relating to the termination of your employment (these Terms) with LIFFE Administration and Management (“the Company”) on 1 May 2009 (the Termination Date). 
 These Terms are offered in full and final settlement of the claims as set out in Clause 18 (Waiver). 
  

	1.	DUTIES 

  

	1.1	You will be paid your basic salary and you will continue to receive your other contractual benefits up to and including the Termination Date together with a payment in respect of
accrued but untaken holiday entitlement (if any) for the current holiday year, less tax, employee pension contributions and National Insurance contributions. A form P45 will be issued to you as soon as reasonably practicable after the Termination
Date. 

  

	2.	TERMINATION PAYMENT 

  

	2.1	Within fourteen days of the later to occur of the Termination Date and receipt by the Company of your signed acceptance of these Terms and a letter from your solicitor to us in the
attached form, at Schedule A and after the issue of your P45 you will receive: 

 (a) a payment of £384,000 (the
Termination Payment) less any applicable tax deductions required by law; 
 (b) A payment of £1,000 in consideration of your
agreeing to clauses 10 and 11 herein. The payment will be made subject to deductions of the applicable rate of income tax and Employee National Insurance contributions. 
  

	3.	TAXATION 

  

	3.1	The first £30,000 of the Termination Payment will be paid without deduction of tax in accordance with Sections 401-403 of the Income Tax (Earnings and Pensions) Act 2003. In
the event that HMRC demand any further tax and employee’s National Insurance contributions on the first £30,000 of the Termination Payment the Company will be responsible for their payment. Any excess of the Termination Payment over
£30,000 payable under these Terms and the value of the benefits provided to you under these Terms will be subject to deductions of basic rate income tax and National Insurance Contributions as appropriate. 

	3.2	You will be responsible for the payment of any further tax and employee’s National Insurance contributions that arises in respect of any payments made to you, or on your behalf
and the benefits provided to you under these Terms with exception of the first £30,000 of the Termination Payment. You agree to indemnify the Company or any Group Company on a continuing basis against any further liability to tax and
employee’s National Insurance contributions including any interest, penalties, reasonable costs and expenses, save for any interest, penalties, costs and expenses arising as a result of the fault of the Company, which any such company may incur
in respect of or by reason of the payments made to you and the benefits provided to you under these Terms with exception of the first £30,000 of the Termination Payment. For the purposes of these Terms “Group Company” shall mean any
company referred to in the Annual Report and Accounts of NYSE and those of Euronext NV, and of the NYSE Euronext group from 2008 onwards, and any other company which could reasonably be expected to be part of the NYSE Euronext group of companies and
the Group has the corresponding meaning. The Company shall give you reasonable notice of any demand for tax which may lead to liabilities under this indemnity and shall provide you with reasonable access to any documentation you may reasonably
require to deal with such a demand. 

  

	4.	PENSION AND BENEFITS 

 In Lieu of Pension
contributions and car allowance for your 12 month notice period the Company will pay you as sum of £116,972.04. If requested an element of or all of this sum will be paid into a Self Invested Personal Pension Plan (SIPP) of your choice upon
presentation of the appropriate plan documentation and account details. 
  

	5.	INSURANCE BENEFITS 

 The Company will continue your
coverage in the private medical insurance plan, until the Termination Date. 
  

	6.	EXECUTIVE INCENTIVE PLAN, OPTIONS AND RSU ALLOCATION 

 You will retain your EIP awards for 2005 and 2006 as approved by the Managing Board on 11 June 2007. Your February 2008 Restricted Stock Unit (RSU) allocation of 10,648 units will vest in full at the date of termination. One third of
your Long Term Incentive Plan (LTIP) units will vest in full at the date of termination (5,891 Units) as per the rules of the plan (pro rata vesting for good leavers). 
 You are able to retain your vested 2004 options until the lapse date of 17 November 2011 by which time you will be required to exercise them as per the rules of the plan. You will be responsible for the payment
of any further tax and employee’s National Insurance contributions that arise in respect of the exercise of these options. 
 Upon
receipt of your instruction the Company will withhold shares in order to meet any income tax and national insurance liabilities due on your RSU allocation at the time of vesting. 
  

	7.	PERSONAL TRADING 

 You remain subject to the
provisions of the Company’s Personal Trading Policy for as long as is set out in that policy. 

	8.	RESTRICTIONS 

 You agree that you will comply with
the covenants in respect of non-solicitation and confidentiality contained in your contract of employment with the Company or in relevant documentation, if any. 
  

	9.	RETURN OF COMPANY PROPERTY AND SEASON TICKET LOAN 

  

	9.1	You confirm that you will immediately return to the Company all documents and computer disks and other media in your possession or provided to you or created in the course of your
employment with any Group Company or relating to, or containing information relating to, any Group Company unless these are required in your new role of Liffe Board Chairman going forward. 

  

	9.2	If applicable, the outstanding balance on your season ticket loan will be deducted from the Termination Payment unless you have surrendered your ticket and settled any outstanding
loan prior to the Termination Date. 

  

	10.	CONFIDENTIALITY AND CONDUCT 

  

	10.1	You will not without the consent in writing of the Company divulge to any person, or use for your own benefit or the benefit of any person, any information of a confidential nature
concerning the business of any Group Company or of any customer or client of any Group Company which has come to your knowledge during the course of your employment with the Group. 

  

	10.2	You will not conduct yourself in any way which is inconsistent with having surrendered your authority, whether in matters of the internal administration of any Group Company or
externally. 

  

	10.3	You will not make any statement which may have the effect of damaging or lowering the reputation of the Company or any Group Company or its employees, officers or agents. The
Company agrees that it will not and will use its reasonable endeavours to ensure that its directors, officers, employees and agents will not make any statement which may have the effect of damaging or lowering your reputation.

  

	10.4	Both parties agree: 

  

	 	(a)	to keep these Terms and all discussions and other correspondence on this subject confidential and not to disclose them to any other person except to a professional adviser,
immediate family and except as may be required by law or regulatory authorities or with the other party’s written consent; and 

  

	 	(b)	not to make any untrue statement in relation to each other. 

  

	11.	POST-TERMINATION RESTRICTIONS 

 You recognise,
whilst performing your duties for the Company that you have had access to and come into contact with trade secrets and confidential information belonging to the Company and certain NYSE Euronext Group Companies and have obtained personal knowledge
of and influence over its or their customers and/or employees. You therefore agree that the restrictions set out in this clause are reasonable and necessary to protect the legitimate business interests of the Company and any relevant NYSE Euronext
Group Company after the termination your employment. 

 In order to protect the confidential information, trade secrets and business connections of the Company
to which you have had access as a result of your employment, you hereby covenant with the Company that you shall not for 6 months after the termination of your employment (such period to be reduced by one day for every day, during which, at the
Company’s direction and in accordance with the relevant provision in your contract of employment, you have been excluded from the Company’s premises and have not carried out any duties): 
  

	 	(a)	solicit or endeavour to entice away from the Company the business or custom of any member, client of a member or customer with whom you had material contact during the period of 12
months ending on the date of termination of your employment, with a view to providing goods or services to that member, client of a member or customer in competition any part of the Company’s business with which you were materially involved; or

  

	 	(b)	in the course of any business concern which is in competition with any part of the Company’s business with which you were involved in the period of 12 months ending on the date
of termination of your employment, offer to employ or engage or otherwise endeavour to entice away from the Company or any NYSE Euronext Group Company any employee of the Company or any NYSE Euronext Group Company (with whom you had material contact
or dealings in the course of your employment during the 12 months ending on the date of termination of your employment) who has confidential information, trade secrets, know-how and/or business connections which could be used to damage the interests
of the Company or any NYSE Euronext Group Company; or 

  

	 	(c)	be involved in any capacity with any business concern which is (or intends to be) in competition with any part of the Company’s business with which you were involved during the
12 months ending on the date of termination of your employment. 

 While these restrictions are considered by the parties to be
reasonable in all the circumstances, it is agreed that if any such restrictions, by themselves, or taken together, shall be adjudged to go beyond what is reasonable in all the circumstances for the protection of the legitimate interests of the
Company or a NYSE Euronext Group Company but would be adjudged reasonable if part or parts of the wording thereof were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be necessary to make it or them valid
and effective. 
  

	12.	BREACH OF THESE TERMS 

 You acknowledge and
agree that the Company has agreed these Terms in reliance on the undertakings, representations and warranties referred to in this letter and that, in the event of any breach thereof, any payments made to you under these Terms must be repaid to the
Company immediately and will be recoverable by the Company as a debt. 
  

	13.	LEGAL FEES 

 The Company will pay up to £1500
(plus VAT) in respect of your legal fees in taking advice in connection with the termination of your employment. Payment will be made by the Company following receipt by the Company of an invoice addressed to you but marked payable by the Company.

	14.	WARRANTY 

 You warrant that you have: 
  

	 	(a)	not withheld or failed to disclose any material fact concerning the performance of your duties with the Group or any breach of any material term (express or implied) of your
contract of employment; 

  

	 	(b)	notified the Company of all complaints against it, any Group Company or any of its officers employees or agents arising out of your employment, its termination or otherwise;

  

	 	(c)	not presented any originating application or claim form to an office of the employment tribunals or issued a claim form in the High Court or County Court in connection with your
employment or its termination, 

 and you undertake that neither you nor anyone acting on your behalf will present any such
complaint or present or issue an originating application or claim form. 
  

	15.	THIRD PARTY RIGHTS 

 Each Group Company shall have
the right under the Contracts (Rights of Third Parties) Act 1999 to enforce the rights bestowed on it by these Terms. The consent of a Group Company is not required to amend any of these Terms. Except as set out in this clause 15, a person who is
not a party to these Terms may not enforce any of its provisions under the Contracts (Rights of Third Parties) Act 1999. 
  

	16.	REFERENCE 

 On receipt of a request by the HR
department of the Company, the Company shall provide a reference in the form set out at Schedule B and shall respond to oral enquiries in a manner consistent with this form. 
  

	17.	WAIVER OF CLAIMS 

  

	17.1	These Terms are offered without any admission of liability and are in full and final settlement of all claims in all jurisdictions that you may have against any Group Company (or
any officers, employees or agents of any Group Company) now or in the future arising out of or in connection with your employment with any Group Company or its termination. In this paragraph claims include, without limitation, any claim for a
redundancy payment, unfair dismissal, wrongful dismissal, discrimination on grounds of sex race, disability, sexual orientation, age, religion or other similar belief, equal pay and any other breach of any contractual, tortious or statutory right.
This waiver shall not apply to any personal injury claim of which you are currently unaware or to your accrued pension rights. You warrant that you are not aware of any facts or circumstances that might give rise to a personal injury claim by you
against any Group Company. 

  

	17.2	You agree to these Terms and confirm that the conditions regulating compromise agreements under the Disability Discrimination Act 1995, the Employment Rights Act 1996, Employment
Equality (Age) Regulations 2006, Employment Equality (Sexual Orientation) Regulations 2003, the Employment Equality (Religion or Belief) Regulations 2003, the Fixed-term Employees (Prevention of Less Favourable Treatment) Regulations 2002,
Information and Consultation of Employee Regulations 2004, the National Minimum Wage Act 1998, the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006, Part-Time Workers (Prevention of
Less Favourable Treatment) Regulations 2000, the Race Relations Act 1976, the Sex Discrimination Act 1975, the Trade Union and Labour Relations (Consolidation) Act 1992, the Transfer of Undertakings (Protection of Employment ) Regulations 2006,
Transitional Information and Consultation Regulations 1999, and the Working Time Regulations 1998 have been satisfied. 

	17.3	You confirm that you have taken independent legal advice from Joanne Clews of Penningtons Solicitors LLP on these Terms and on the effect that agreeing to these Terms will have on
your rights against the Company, any other Group Company, their employees, officers or agents and on the basis of that advice you accept these Terms. In addition, Joanne Clewshas confirmed to you that she is a qualified solicitor holding a current
practising certificate and that she or her firm has an insurance policy in force covering the risk of a claim by you in respect of any loss arising in consequence of her advice. 

  

	18.	GENERAL 

  

	18.1	These Terms are governed by English law. You and the Company agree to submit to the jurisdiction of the English courts as regards any claim or matter arising in connection with
these Terms. 

  

	18.2	These Terms may be executed in one or more counterparts which, when taken together, shall be deemed to constitute the entire agreement. 

  

	18.3	Notwithstanding that this letter is marked “Without Prejudice” when these Terms are signed by the Company and you, it will become open and binding.

 Please signify your agreement to these Terms by signing them below where indicated. 
 Yours sincerely, 
  

	
	  

 For and on behalf of LIFFE Administration and Management 
  

	
	  

 Signature of Hugh Freedberg 
 Date:                      

 SCHEDULE A 
 FORM OF SOLICITOR’S LETTER 
 I [name of solicitor] of [name of firm] refer to the letter dated
13 February 2009 from LIFFE Administration and Management to Hugh Freedberg (the Letter). I am a qualified solicitor holding a current practising certificate [and a partner in the firm of [name of firm]. The firm has an insurance
policy in force covering the risk of a claim by Hugh Freedberg in respect of any loss arising in consequence of my advice. I have advised Hugh Freedberg regarding his rights against the Company, any other Group Company, their employees, officers or
agents as referred to in the Letter (including his rights under the statutes referred to in the Letter) and the effect of agreeing to the Terms referred to in the Letter. 
  

			
	 Signature:
	 	  

			
		
	 Date:
	 	  

 SCHEDULE B 
 Date 
 STRICTLY PRIVATE & CONFIDENTIAL 
 [Name] 
 [Address] 
 [Address] 
 [Address] 
 

 
 Dear [Name] 
 RE: Hugh
Freedberg 
 Thank you for your letter concerning Hugh Freedberg. Unfortunately, it is not our Company policy to complete individual Company
questionnaires on former employees. However, I am able to confirm the following: 
 Hugh was employed by NYSE Euronext as the Chief Executive of NYSE LIFFE.
He was employed from 12 October 1998 to 1 May 2009. 
 In accordance with our policy, this information is given in the strictest confidence and
without liability. 
 Yours sincerely 
 [Name]

 Human Resources Manager 
 NYSE Euronext

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