July 20, 2007Severance Agreement • July 23rd, 2007 • Ust Inc • Tobacco products • Delaware
UST Inc. (“UST” or the “Company”) is pleased to provide you with this letter agreement (the “Agreement”). The Board of Directors of UST (the “Board of Directors” or the “Board”) considers it essential to the best interests of the Company and the interests of UST’s stockholders to foster the continuous employment of key management personnel. In addition, the Board recognizes that, as is the case with many publicly held corporations, the possibility of a change in control may exist, and that the uncertainty and questions which may arise among Company management as a result of the foregoing may cause the departure or distraction of management to the detriment of the Company and its stockholders.
