Common Contracts
1 similar Severance Agreement contracts
ContractSeverance Agreement • May 5th, 2020
<DOCUMENT> <TYPE>EX-10.X <SEQUENCE>3 <FILENAME>0003.txt <DESCRIPTION>SEVERANCE AGREEMENT <TEXT> EXHIBIT 10.x SEVERANCE AGREEMENT AGREEMENT made as of this 3rd day of January, 2000 by and between MTS Systems Corporation, a Minnesota corporation ("MTS") and Kathleen M. Staby (the "Executive"). WHEREAS, MTS desires to employ Executive as its Vice President and Executive is willing to become employed by MTS in such capacity; and WHEREAS, Executive is expected to make a significant contribution to the profitability, growth and financial strength of MTS; and WHEREAS, MTS considers the establishment and maintenance of a sound and vital management and an orderly succession plan to be essential to protecting and enhancing the best interests of MTS and its shareholders; and WHEREAS, this Agreement is consistent with the requirements of the executive/high policymaking exception to the Age Discrimination in Employment Act, 29 U.S.C. Section 631(c)(1) (the "Executive Exemption"), benefits in connec
