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This excerpt taken from the C 10-K filed Feb 23, 2007. (15) Notice Period. You agree to not resign, retire or otherwise terminate your employment with CGMI/GCIB, without first giving CGMI/GCIB 90 days prior written notice of the effective date of your last day of employment. CGMI/GCIB may, in its discretion, with respect to the remaining period of the notice: remove any duties assigned to you; assign you to other duties; require you to remain away from CGMIs/GCIBs place of business; or, waive the remaining notice period and consider your resignation effective immediately, or some date prior to the expiration of the notice period. Notwithstanding the foregoing, for the period of time remaining after you have given notice, you will continue to be paid your current salary, provided you continue to act in a manner consistent with your obligations as an employee of CGMI/GCIB. You also agree that during the applicable 90-day notice period, you will not directly or indirectly solicit or induce away from CGMI/GCIB, or cause to be solicited or induced away from CGMI/GCIB, any business from any of CGMIs/GCIBs investment or corporate banking customers, clients or accounts with whom you had contact. If your resignation was deemed effective at such earlier date, then the balance of your unpaid salary for this notice period will be paid to you in a lump sum. |
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