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Service Agreement

 

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Title:

Service Agreement

Entities:

General Electric Co.

Date:

2000

Size:

Preview shows 5KB of 20KB total

Price:

$36

ID:

#402088

 

 

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                                SERVICE AGREEMENT



THIS SERVICE AGREEMENT (this "AGREEMENT"), is made and entered into on
this ___ day of August, 2000, by and between MARTIN A. CARTWRIGHT (the
"EMPLOYEE") and GENERAL ELECTRIC COMPANY, a New York corporation (together with
its subsidiaries, "GE");

W I N E S S E T H:

WHEREAS, GE (in its individual capacity) has entered into an acquisition
agreement dated as of the date hereof, between GE and Smallworldwide plc
(together with its subsidiaries, "SMALLWORLDWIDE", unless the context requires
otherwise), a public limited company organized under the laws of England and
Wales (the "ACQUISITION AGREEMENT"), pursuant to which GE has agreed to commence
an offer to purchase all of the issued and outstanding ordinary shares,
(pound)0.01 par value per share, and, without duplication, THE American
Depositary Shares, of Smallworldwide (the "TENDER OFFER");

WHEREAS, the Employee is currently employed by Smallworldwide and is a
party to an employment agreement, effective as of July 6, 1998, by and between
Smallworldwide and the Employee (the "EMPLOYMENT AGREEMENT"); and

WHEREAS, upon the consummation of the Tender Offer, GE desires that
Employee continue as an employee of Smallworldwide (or GE) and the Employee
desires to continue to be employed by Smallworldwide (or GE); and

WHEREAS, to induce the Employee to continue in the employ of
Smallworldwide (or GE), GE wishes to enter into this Agreement;

NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:

SECTION 1. DEFINITIONS.

For the purposes of this Agreement, the following definitions shall apply:

(a) "COMPANY ACTIVITIES" shall mean the business of developing, marketing,
selling, implementing, delivering and maintaining software products to the
utility (oil, gas, hydro and nuclear) and communications (voice, Internet, data)
industries, including but not limited to, distribution management systems,
outage management systems, energy management systems, network management systems
and geospatial information systems.

(b) "CONFIDENTIAL INFORMATION" shall mean any data or information of GE or
Smallworldwide, other than Trade Secrets, which is valuable to GE or
Smallworldwide and not generally known to the public.
{PAGE}

(c) "CONSTRUCTIVE DISCHARGE TERMINATION EVENT" shall mean, the occurrence
of any of the following events, without the Employee's express written consent,
or such other events as the parties may expressly agree to: (i) the assignment
to the Employee of any duties or responsibilities that are inconsistent in any
material adverse respect with the Employee's position(s), duties,
responsibilities or status in GE or Smallworldwide (including any material
adverse diminution of such duties or responsibilities) or (ii) a material
adverse change in the Employee's reporting responsibilities or titles in GE or
Smallworldwide; or (iii) any requirement of GE that the Employee be relocated
more than 50 miles from the work location where Employee is located as of the
date hereof for a period in excess of 120 days.

(d) "DISABILITY TERMINATION EVENT" shall mean the death or total
disability of the Employee.

(e) "GOOD CAUSE TERMINATION EVENT" shall mean the Employee's employment is
terminated as a result of any of the following: (i) the Employee is convicted
of, pleads guilty to, or confesses to any felony or any act of fraud,
misappropriation or embezzlement, (ii) the Employee engages in a fraudulent act
to the material damage or prejudice of GE or Smallworldwide or in conduct or
activities materially damaging to the property, business or reputation of GE or
Smallworldwide; (iii) the Employee illegally uses controlled substances, (iv)
the Employee is negligent in performing Employee's duties to GE or
Smallworldwide and, within 30 days after written notice from GE of any such act
or omission, the Employee has not corrected such act or omission, or (v) the
Employee otherwise fails to comply with the terms of the Employment Agreement,

 

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