Re: Retention Letter Agreement (the “Letter Agreement”)Letter Agreement • May 1st, 2020 • Legg Mason, Inc. • Investment advice • Maryland
In connection with the transaction (the “Transaction”) by and between Legg Mason, Inc. (together with its affiliates, subsidiaries, successors or parent companies, “Legg Mason”) and Franklin Resources, Inc. (together with its affiliates and subsidiaries, “Franklin”), we are pleased to offer you a retention incentive to encourage you to remain actively employed through the date of the closing of the Transaction (the “Closing” and such date, the “Closing Date”), subject to the terms and conditions set forth in this Letter Agreement. The period commencing on the date of this Letter Agreement through the Closing Date is referred to in this Letter Agreement as the “Retention Period”.
NON-COMPETITION AGREEMENTNon-Competition Agreement • May 1st, 2020 • Legg Mason, Inc. • Investment advice • Maryland
This NON-COMPETITION AGREEMENT (this “Agreement”) is made and entered into as of this [ ] day of [ ] 2020, by and between Legg Mason, Inc., a Maryland corporation (together with its subsidiaries “the Company”) and Joseph A. Sullivan (“Executive”) (each, a “Party” and together, the “Parties”). This Agreement is contingent upon, and effective as of, the consummation of the transactions contemplated by the Agreement and Plan of Merger among Franklin Resources, Inc., Alpha Sub, Inc. and the Company dated as of February 17, 2020 (the “Merger Agreement”). In the event that the Merger Agreement is terminated pursuant to its terms, this Agreement shall be of no further force or effect.
Re: Retention Letter Agreement (the “Letter Agreement”)Retention Letter Agreement • May 1st, 2020 • Legg Mason, Inc. • Investment advice
In connection with the transaction (the “Transaction”) by and between Legg Mason, Inc. (together with its affiliates, subsidiaries, successors and parent companies “Legg Mason”) and Franklin Resources, Inc. (together with its affiliates and subsidiaries, “Franklin”), we are pleased to offer you a retention incentive to encourage you to remain actively employed through the date of the closing of the Transaction (the “Closing” and such date, the “Closing Date”), subject to the terms and conditions set forth in this Letter Agreement. The period commencing on the date of this Letter Agreement through the Closing Date is referred to in this Letter Agreement as the “Retention Period”.
