Re: Severance AgreementSeverance Agreement • August 9th, 2013 • Illinois Tool Works Inc • General industrial machinery & equipment • Illinois
To provide you with a greater sense of security, Illinois Tool Works Inc. ("ITW" or the "Company) is offering you this Severance Agreement in the event the Industrial Packaging Segment (the "Business") separates from the rest of ITW (any such separation from ITW is referred to in this Severance Agreement as the "Transaction") and if you are terminated within twenty-four (24) months after the close date of the Transaction (including continued employment with its successor in interest in the Business, if any), subject to the terms and conditions described below. Any severance benefits contained herein are contingent upon the execution of a signed release on behalf of the Employee in a form as determined by the Company.
