IDEX Corporation Severance Letter Agreement with Kimberly Bors

Contract Categories: Human Resources › Severance Agreements
Summary

This letter agreement between IDEX Corporation and Kimberly Bors confirms that if Ms. Bors's employment is terminated by IDEX without cause, she will receive at least 12 months of her current base salary as severance. The agreement does not apply if she resigns or is terminated for willful misconduct or fraudulent behavior. The letter serves as a formal commitment of this severance arrangement.

Read More Arrow
EX-10.20 6 c83337exv10w20.txt LETTER AGREEMENT EXHIBIT 10.20 PERSONAL AND CONFIDENTIAL VIA OVERNIGHT MAIL November 22, 2002 Ms. Kimberly Bors 728 Westgate Road Deerfield, Illinois 60015 Dear Kim: The purpose of this letter is to confirm the commitment made verbally to you on Tuesday, November 19,2002 relating to your employment status with IDEX. If, in the future, your employment with IDEX Corporation is terminated without cause ("cause" defined as willful misconduct or fraudulent behavior), IDEX will pay you a minimum of 12 months' salary at the then current monthly base rate as severance. Such benefit will not be applicable if you resign. Kim, we are delighted that you have decided to join IDEX. We look forward to working closely with you as well as to the significant contributions you will make to IDEX in the years ahead. Sincerely, /s/ Jerry N. Derck Jerry N. Derck c: D. K. Williams