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This termination or severance agreement involves CMGI INC . A termination agreement is a contract providing specific benefits to an employee in the event his or her employment is terminated by the employer. There are a variety of forms for these termination agreements, covering situations in which employment is terminated with or without cause, or potentially as a result of an acquisition.

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Posted:
08/05/09
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DocStore > Agreements > Termination & Severance Agreements
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Termination Severance Agreement, CMGI INC Termination Severance Agreemen..., Modus Media International Inc. Terminati..., Misc. Financial Services Termination Sev..., FINANC Termination Severance Agreement

CMGI INC Termination Severance Agreement

EXHIBIT 10.28 [Modus Media International Letterhead] PERSONAL AND CONFIDENTIAL August 5, 2002 Mr. Daniel F. Beck President, Americas Modus Media International, Inc. 690 Canton Street Westwood, MA 02090 Dear Dan: This letter is to confirm that if Modus Media International, Inc. (“MMI” or “Company”) terminates your employment without Cause (as defined below), MMI will make severance payments to you during the twelve (12) months following such termination in an aggregate amount equal to twelve months’ base salary at the time of termination. Such severance payments shall be paid to you in equal biweekly installments during such twelve-month period. If you remain unemployed following such twelve-month period, you will be entitled to up to an additional six (6) months of base salary (“Extended Severance Payments”) to be paid in equal, biweekly installments for so long as you remain unemployed, up to a maximum aggregate of six months. For ease of further reference, the rights set forth in this paragraph shall be referred to hereafter as “Severance Benefits.” Additionally, for up to eighteen months following your termination, the Company will provide you with dental and group health insurance benefits unless or until you are or become eligible for such benefits from a new employer. To the extent annual management incentive bonus payments are made in re