SEC Contract Filing

Filing Date: 2015-03-13

Document Content:
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<TYPE>EX-10.28
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<FILENAME>a2223404zex-10_28.htm
<DESCRIPTION>EX-10.28
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<p align="right" style="margin:0in 0in .0001pt 5.0in;text-align:right;text-indent:-5.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.28</font></b></p>
<p align="right" style="margin:0in 0in .0001pt 5.0in;text-align:right;text-indent:-5.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="816" height="225" src="g268213lgi001.jpg"></font></p>
<p style="margin:0in 0in .0001pt 5.0in;text-indent:-5.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0in;text-indent:-5.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;30, 2012</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David James Stevens</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Address]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear David,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement and General Release (the &#147;Agreement and Release&#148;) sets forth the terms of your mutual separation from employment with ITG Inc. (&#147;ITG&#148; or the &#147;Company&#148;) effective January&nbsp;31, 2012 (the &#147;Separation Date&#148;).&nbsp; You need to remain employed by ITG in good standing through the Separation Date for the Agreement and Release to be in effect.&nbsp; If you resign voluntarily, or are terminated for Cause (as defined in the Offer Letter dated as of September&nbsp;14, 2011 between you and the Company) prior to the Separation Date, all terms of this Agreement and Release will be null and void.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regardless of whether you sign this Agreement and Release or not, you will receive: (i)&nbsp;a final paycheck which will include a payment for all unpaid base salary you have earned through the Separation Date, less any applicable deductions and withholdings.&#160; Although your medical coverage will end on the last day of the month in which your employment terminates, you will be eligible to continue that coverage at your expense pursuant to the provisions of the law known as COBRA.&#160; We will send you a separate notice detailing your rights under COBRA. All other benefits, including life insurance, short and long-term disability, will cease upon the Separation Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Additional Payments/Benefits for Signing This Agreement and Release. </font></b><font size="2" style="font-size:10.0pt;">In exchange for entering into this Agreement and Release,&nbsp;ITG will provide you with the additional payments and benefits described below following the Effective Date (as defined below) of this Agreement and Release.&#160; The payments and benefits in Sections 1(a)&nbsp;and (b)&nbsp;below shall become available in accordance with the terms set forth in those Sections, provided that you have complied with all of your obligations and the terms of this Agreement and Release.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(a)</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Payment.&#160; </font></b><font size="2" style="font-size:10.0pt;">You will receive a payment</font><font size="2" style="font-size:10.0pt;"> in the aggregate amount of GBP 631,911.53 less any applicable deductions and withholdings which will be paid in six monthly installments (&#147;Payments&#148;).&#160; These Payments shall commence as soon as administratively possible (generally within ninety (90) calendar days following the Separation Date).&#160; In addition,&nbsp;ITG will pay you GBP 2,527.65 representing the enrollment cost of a private medical plan in the United Kingdom for 2013.</font></p>
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