Separation Agreement and Release (May 1st, 2017)
This Separation Agreement and Release ("Agreement") is entered into by Flowserve Corporation, Flowserve Management Company and Flowserve US Inc. (collectively referred to as "Flowserve") and Karyn Ovelmen ("Executive") (collectively, the "Parties"). The Parties desire to enter into an agreement that amicably resolves the employment relationship between them and any disputes that now or may exist between them concerning Executive's hiring, employment and termination from Flowserve including disputes regarding Executive's compensation or benefits. Accordingly, in exchange for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree:
Lyondellbasell Industries Nv – Ms. Karyn F. Ovelmen (October 11th, 2011)
I am pleased to confirm our offer of employment with Lyondell Chemical Company (Company) as the Executive Vice President and Chief Financial Officer and Executive Vice President and Chief Financial Officer of LyondellBasell Industries N.V. (Parent Company) and its subsidiaries (the LBI Group).