MATRIX SERVICE COMPANY Change of Control and Retention AgreementChange of Control and Retention Agreement • May 12th, 2005 • Matrix Service Co • Construction - special trade contractors
In the event of a “change of control” in the ownership of the Company and any “adverse personnel action” against Employee, Employee may terminate his employment with the Company and receive one year of severance pay. The severance pay will be equal to Employee’s annual base salary at the time of the adverse personnel action or the termination, whichever is greater. This severance arrangement will apply for a period of six months following any change of control. The severance will be paid in a lump sum payment and will be paid to Employee within 30 days of the termination.
