Employees Retirement. Employee and Employer confirm and agree that Employee will retire from employment with Employer as of the Retirement Date and that the employment relationship which existed between Employee and Employer and/or any of Employer's affiliated companies will cease as of the Retirement Date. However, nothing contained herein shall prevent or interfere with the ability of the parties to enter into future agreements for Employee to provide consulting services and advice to Employer or Employer's affiliates on an independent contractor basis ("Subsequent Agreement"). In addition, it is anticipated that Employee will continue to serve as a non-employee Class III member of the Board of Directors of Willbros Group, Inc. ("WGI"), Employer's parent company, after the Retirement Date and that Employee will also serve as Chairman of such Board and as a member of various committees of such Board. Except as provided in any Subsequent Agreement or in policies which apply generally to non-employee members of the WGI Board ("Board Policies"), all of Employer's obligations to Employee on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein, in a Subsequent Agreement or in Board Policies, Employer shall have no further obligations whatsoever to Employee after the Retirement Date. Employer shall cause its personnel records to reflect that Employee retired from employment with Employer effective on the Retirement Date.
Appears in 1 contract
Samples: Separation Agreement and Release (Willbros Group Inc)
Employees Retirement. Employee and Employer confirm and --------------------- agree that Employee will retire is retiring from employment with Employer as of the Retirement Date and that the employment relationship which existed between Employee and Employer and/or any of Employer's affiliated companies will shall cease as of the Retirement Date. However, nothing contained herein herein, shall prevent or interfere with the ability of the parties to enter into future agreements for Employee to provide consulting services and advice to Employer or Employer's affiliates on an independent contractor basis ("Subsequent Agreement"). In addition, it is anticipated that Employee will continue to serve as a non-employee Class III member of the Board of Directors of Willbros Group, Inc. ("WGI"), Employer's parent company, after the Retirement Date and that Employee will also serve as Chairman of such Board and as a member of various committees of such Board. Except as provided in any Subsequent Agreement or in policies which apply generally to non-employee members of the WGI Board ("Board Policies")Agreement, all of Employer's obligations to Employee on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein, herein or in a Subsequent Agreement or in Board PoliciesAgreement, Employer shall have no further obligations whatsoever to Employee after the Retirement Date. Similarly, except as provided in any Subsequent Agreement, all of Employee's obligations to Employer on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein or in a Subsequent Agreement, Employee shall have no further obligations to Employer after the Retirement Date. Employer shall cause its personnel records to reflect that Employee retired from employment with Employer effective on the Retirement Date.
Appears in 1 contract
Employees Retirement. Employee and Employer confirm and agree that Employee is retiring or will retire from employment with Employer as of the Retirement Date and that the employment relationship which existed between Employee and Employer and/or any of Employer's affiliated companies will cease or ceased as of the Retirement Date. However, nothing contained herein herein, shall prevent or interfere with the ability of the parties to enter into future agreements for Employee to provide consulting services and advice to Employer or Employer's affiliates on an independent contractor basis ("Subsequent Agreement"). In addition, it is anticipated that Employee will continue to serve as a non-employee Class III member of the Board of Directors of Willbros Group, Inc. ("WGI"), Employer's parent company, after the Retirement Date and that Employee will also serve as Chairman of such Board and as a member of various committees of such Board. Except as provided in any Subsequent Agreement or in policies which apply generally to non-employee members of the WGI Board ("Board Policies")Agreement, all of Employer's obligations to Employee on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein, herein or in a Subsequent Agreement or in Board PoliciesAgreement, Employer shall have no further obligations whatsoever to Employee after the Retirement Date. Similarly, except as provided in any Subsequent Agreement, all of Employee's obligations to Employer on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein or in a Subsequent Agreement, Employee shall have no further obligations to Employer after the Retirement Date. Employer shall cause its personnel records to reflect that Employee retired from employment with Employer effective on the Retirement Date.
Appears in 1 contract
Samples: Separation Agreement and Release (Willbros Group Inc)
Employees Retirement. Employee and Employer confirm and agree that Employee will retire from employment with Employer as of the Retirement Date and that the employment relationship which existed between Employee and Employer and/or any of Employer's ’s affiliated companies will cease as of the Retirement Date. However, nothing contained herein shall prevent or interfere with the ability of the parties to enter into future agreements for Employee to provide consulting services and advice to Employer or Employer's ’s affiliates on an independent contractor basis ("a “Subsequent Agreement"). In addition, it is anticipated that Employee will continue to serve as a non-employee Class III member of the Board of Directors of Willbros Group, Inc. ("WGI"”), Employer's parent company, after including without limitation the Retirement Date Consulting Services Agreement being executed by Employer and that Employee will also serve as Chairman of such Board and as a member of various committees of such Boardconcurrently herewith. Except as set forth in the 2003 Management Incentive Compensation Plan, the 2000 Option Plan of GEEG Holdings, L.L.C., as amended, and the 2001 Stock Option Plan of Employer or as provided in any Subsequent Agreement or in policies which apply generally to non-employee members of the WGI Board ("Board Policies")Agreement, all of Employer's ’s obligations to Employee on or after the Retirement Date are set forth herein. Accordingly, except as otherwise provided herein, herein or in a Subsequent Agreement or in Board PoliciesAgreement, Employer shall have no further obligations whatsoever to Employee after the Retirement Date. Employer shall cause its personnel records to reflect that Employee retired from employment with Employer effective on the Retirement Date. The Employment Agreement dated as of May 1, 2002, between Employer and Employee (the “Employment Agreement”) shall terminate effective upon the Retirement Date.
Appears in 1 contract
Samples: Separation Agreement and Release (Global Power Equipment Group Inc/)