Termination and Severance Agreement

Termination Severance Agreement

You are currently viewing:

This Termination Severance Agreement involves

FLOWSERVE CORP | Flowserve Corporation

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.

Title: Termination and Severance Agreement
Date: 8/31/2009
Industry: Misc. Capital Goods Sector: Capital Goods

Termination and Severance Agreement, Parties: flowserve corp , flowserve corporation

Exhibit 10.2

August 31, 2009

Mr. Lewis M. Kling
President and Chief Executive Officer
Flowserve Corporation

Dear Lew:

The Board of Directors (the “Board”) of Flowserve Corporation (“Flowserve”) has been very pleased with the performance of Flowserve during your tenure as Flowserve’s Chief Executive Officer (“CEO”).

Therefore, your colleagues on the Board are happy that, although you have decided to retire as CEO (plus from any other management or director positions that you currently hold with any affiliates of Flowserve) effective October 1, 2009, you have agreed to continue as an employee and as Vice Chairman of the Board of Flowserve until February 28, 2010, the date of the expiration of your term as CEO under your letter agreement dated May 29, 2007 (the “Letter Agreement”) with Flowserve.

It is understood that, consistent with your wishes, you will retire as an employee on F

SITE SEARCH

AGREEMENTS / CONTRACTS

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates