JOINT LITIGATION AGREEMENTJoint Litigation Agreement • December 20th, 2006 • Walter Industries Inc /New/ • General bldg contractors - residential bldgs • Delaware
THIS JOINT LITIGATION AGREEMENT is made between Walter Industries, Inc., a Delaware corporation (“WLT”), and Mueller Water Products, Inc., a Delaware corporation (“MWA”), and by each of them for their respective subsidiaries (together with WLT and MWA, the “Corporate Entity Parties”), and their respective affiliates, advisors, and agents, all to the extent reflected in this Agreement (the “Parties”), effective as of December 14, 2006 ( the “Spin-Off Date”).
Assignment and Assumption AgreementAssignment and Assumption Agreement • December 20th, 2006 • Walter Industries Inc /New/ • General bldg contractors - residential bldgs
Pursuant to paragraph 15 of the Employment Agreement (the “Employment Agreement”) between Walter Industries, Inc., a Delaware Corporation (“Walter”) and Mr. Gregory E. Hyland dated as of September 9, 2005, as amended, Walter hereby assigns to Mueller Water Products, Inc., a Delaware Corporation (“Mueller”), and Mueller hereby assumes, all of Walter’s rights and obligations under the Employment Agreement and under the Executive Change-In-Control Severance Agreement dated September 16, 2005 between Walter and Mr. Hyland; provided, however, that Walter shall retain the obligation to determine and pay Mr. Hyland’s incentive compensation payment for calendar year 2006 in accordance with the terms of the Walter Industries, Inc. Executive Incentive Plan.
