CHANGE IN CONTROL SEVERANCE AGREEMENTControl Severance Agreement • January 31st, 2005 • Vermont Transit Co Inc • Television broadcasting stations • Delaware
Greyhound Lines, Inc. (the “Company”) recognizes that, as is the case for most companies, the possibility of a change in control exists. The Company wishes to ensure that its senior executives are not distracted from performing their duties in the event of a proposed or actual transaction involving a change in control. Accordingly, the Company has determined that as an additional inducement for you (the “Executive”) to continue to remain in the employ of the Company and to assure itself of both present and future continuity of management, the Company agrees to provide the Executive with severance benefits under the following circumstances pursuant to the following terms and conditions (the “Agreement”):
Greyhound Lines, Inc., a Delaware corporation (“Greyhound”), Laidlaw International, Inc., a Delaware corporation (“Laidlaw”) and John Werner Haugsland (the “Executive”)Vermont Transit Co Inc • January 31st, 2005 • Television broadcasting stations • Delaware
WHEREAS, Executive is currently employed by Greyhound pursuant to the terms of the Second Amended Executive Employment Agreement dated as of March 16, 1999, as amended (the “Prior Agreement”); and
