NOVATION AGREEMENT
Agreement made this 19 th day of December, 2007 by and
between General Cable Corporation, a Delaware corporation with
principal offices at 4 Tesseneer Drive, Highland Heights, Kentucky,
41076 (“the Company”), and Brian J. Robinson
(“the Executive”).
WHEREAS, Executive has served the Company in various capacities for
a number of years;
WHEREAS, Executive currently holds the position of Chief Financial
Officer (“CFO”) of the Company;
WHEREAS, on or around September 14, 2003, the Company presented
Executive a letter by which certain severance payments were
extended to him;
WHEREAS, the Company wishes to extinguish Executive’s current
severance benefits effective December 31, 2007 and grant to him
severance benefits under the Company’s new Executive Officer
Severance Pay Plan (the “Plan”) .
NOW, THEREFORE, in consideration of the mutual terms contained
herein, the parties agree as follows:
1.
Executive shall be entitled to severance benefits under the Plan
from its effective date. Executive acknowledges that benefits
under the Plan constitute fair and adequate consideration for the
novation of any prior severance entitlements that Executive had
with the Company.
2.
This Agreement does not in any way constitute a contract of
employment for any specific term. Executive acknowledges that
at all times he is and will be employed at will by the Company.
This means that either he or the Company can terminate his
employment at any time, for any lawful reason.
3.
In consideration of Executive’s receipt of severance pay
Executive also hereby agrees to the following negative
covenants:
a.
During his employment with the Company (“the Employm