21 June 2001
REUTERS GROUP PLC
DAVID GRIGSON
SERVICE AGREEMENT
THIS AGREEMENT is made on 21st June 2001
BETWEEN
(1) REUTERS GROUP PLC registered in England with No. 3296375 whose registered office is at 85 Fleet Street, London, EC4P 4AJ (the Company); and
(2) DAVID GRIGSON of Bainton Farmhouse, Bainton, Stamford, Lincolnshire PE9 3AF (you).
IT IS AGREED as follows:
1. In this Agreement the following expressions shall have the following meanings:
Board means the board of directors of Reuters Group PLC or a duly constituted committee of the board of directors;
Employment means your employment in accordance with the terms and conditions of this Agreement;
Group means the Company, any holding company of the Company and any subsidiary of the Company or of any such holding company (with holding company and subsidiary having the meanings given to them by section 736 of the Companies Act 1985). Group Company and Group Companies shall be construed accordingly; and
Remuneration Committee means the remuneration committee of the Board.
2. The Employment will begin on 1 August 2000 and will continue until terminated in accordance with Clause 12 below.
3.1 You will serve the Company as Finance Director (Chief Financial Officer) or in such other capacity of a like status as the Company may require.
3.2 Subject to Clause 4, you will exercise such powers and perform such duties in relation to the business of the Company and the Group, being duties which are appropriate to your senior status, as may be assigned to you by the Chief Executive of the Company after taking into account the opinion of the Board.
3.3 During the Employment you will:
| (a) | devote substantially the whole of your working time, attention and abilities to carrying out those duties in a proper, loyal and efficient manner; |
| (b) | use all reasonable endeavours to promote the interests of the Company and any other Group Company which you may be required to serve under the terms of this Agreement; |
| (c) | have due regard to the Reuters Trust Principles and to the rights and duties of the Reuters Trustees as set out in the Memorandum and Articles, of Association of the Company and the Memorandum and Articles of Association of Reuters Founders Share Company Limited insofar as, by the proper exercise of your powers (and in accordance with your other duties) as director of the Company, the Reuters Trust Principles are capable of being observed by you; |
| (d) | have due regard to the provisions of the Reuters Code of Conduct (as notified to you from time to time) and, so far as reasonably practicable in the performance of your duties, observe all material provisions of that Code; |
| (e) | comply with the Reuters Share Dealings Code (as notified to you from time to time); and |
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