8-KMaterial AgreementsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Material Agreement (May 12, 2006)

Filed May 12, 2006For Securities:A

Summary

Agilent Technologies, Inc. filed an 8-K on May 12, 2006, reporting a material definitive agreement with former Senior Vice President Thomas E. White. This agreement is connected to the company's reorganization of its Electronic Measurements Group and the eventual termination of Mr. White's employment, scheduled for March 31, 2007. Under the terms of the Compromise Agreement and General Release, Mr. White will assist in the transition of his duties until his employment ends. He has also agreed to non-compete clauses for a period following his departure and has released Agilent from certain employment-related claims. Agilent will make a lump-sum payment of GBP 271,912, subject to deductions, within 30 days after his termination, and will also provide specified retirement and other benefits.

Key Highlights

  • 1Agilent Technologies entered into a Compromise Agreement and General Release with former Senior Vice President Thomas E. White.
  • 2The agreement is related to Agilent's reorganization of its Electronic Measurements Group.
  • 3Mr. White's employment termination is set for March 31, 2007.
  • 4Mr. White will assist with job transition duties from May 1, 2006, to March 31, 2007.
  • 5The agreement includes a non-compete clause for Mr. White for a specified period.
  • 6Agilent will pay Mr. White GBP 271,912 (less deductions) post-termination.
  • 7The agreement includes provisions for retirement and other benefits for Mr. White.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the entry into a material definitive agreement, specifically a Compromise Agreement and General Release, between Agilent Technologies and its former Senior Vice President, Thomas E. White.

The primary financial impact disclosed is Agilent's obligation to pay Mr. White a lump sum of GBP 271,912, less applicable taxes and deductions, within 30 days after his employment termination on March 31, 2007. Additionally, the company will provide specified retirement and other benefits.

Mr. White's key obligations include assisting with the transition of his former duties until his employment ends on March 31, 2007, and adhering to a non-compete clause that restricts him from providing services to certain competitors for a specified period post-termination. He also agrees to release Agilent from certain employment-related claims.