TRANSITION AGREEMENT AND RELEASETransition Agreement and Release • February 22nd, 2012 • Flowserve Corp • Pumps & pumping equipment • Texas
This Transition Agreement and Release (“Agreement”) is entered into by Flowserve Corporation, Flowserve Management Company and Flowserve US Inc. (collectively referred to as “Flowserve”) and TOM FERGUSON (“Executive”) (collectively, the “Parties”). The Parties desire to enter into this Agreement and a Separation Agreement and Release that amicably resolve the employment relationship between them and any disputes that now or may exist between them concerning Executive's hiring, employment and termination from Flowserve including disputes regarding Executive's compensation or benefits. Accordingly, in exchange for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree:
