|VIRTU KCG HOLDINGS LLC filed this Form 8-K on 07/24/2017|
THIS AGREEMENT is made on 20 July 2017
(1) KCG EUROPE LIMITED a company registered in England and Wales under number 3632121 and whose registered office is at City Place House, 55 Basinghall Street, London, EC2V 5DU (the Company); and
(2) Philip Allison of Church House, High Street, Hurstpierpoint, West Sussex, BN6 9TS (the Employee or You).
(A) The terms of this Agreement are contingent on Closing and shall only become effective upon Closing.
(B) You are employed by the Company. Your employment will terminate with immediate effect on the Closing Date.
(C) You and the Company have agreed terms of settlement of all claims You have or may have against the Company and any Associated Company.
(D) The Company is entering into this Agreement without any admission of liability for itself and as an agent for all and any Associated Companies and is duly authorised to do so.
IT IS AGREED as follows:
1. TERMINATION DATE
1.1. The terms of this Agreement are contingent on Closing, and if the Merger Agreement is terminated prior to the occurrence of Closing then this Agreement shall be void and have no force or effect.
1.2. Your employment with the Company and all other employments with the Company and any Associated Company will terminate on the Closing Date (the Termination Date), and your contract of employment signed by You on 19 March 2014 (the Contract of Employment as such contract of employment may have been amended, varied or refreshed) shall have no further effect thereafter save for clauses 15 and 18 of the Contract of Employment which shall continue with full force.
1.3. You shall not hold yourself out or conduct yourself as an employee of the Company after the Termination Date.
2. PERIOD UP TO THE TERMINATION DATE
2.1. Subject to clause 8 You will be paid:
2.1.1. salary and benefits due to You to the Termination Date;
2.1.2. for 11 days accrued but untaken holiday due to You to the Termination Date; and
2.1.3. £175,000 in lieu of the your notice period of six (6) months (the Notice Payment),
in the Companys next payroll subject to deductions for tax and national insurance contributions in the usual way.