Employment Offer Letter between Iberdrola USA Management Corporation and Sheila Duncan (Chief Human Resources Officer)
Iberdrola USA Management Corporation offers Sheila Duncan the position of Chief Human Resources Officer, starting April 1, 2015, with a salary of $315,000 and eligibility for bonuses and benefits. The offer includes various allowances such as housing, car, relocation, and immigration assistance. Employment is "at will," allowing either party to end the relationship at any time, but if the company terminates employment, notice and pension terms from the ScottishPower contract apply. Sheila must accept the offer within 10 working days by signing and returning the letter.
EXHIBIT 10.2
[IBERDROLA USA LETTERHEAD]
Ramón Castresana Sánchez
Director de Recursos Humanos
Sheila Duncan
1 Atlantic Quay, Glasgow G2 8SP
March 3rd, 2015
Dear Sheila:
Iberdrola USA Management Corporation (the “Employer”) is pleased to confirm our offer of employment to you as Chief Human Resources Officer of Iberdrola USA based at (TBC).
Your anticipated commencement of employment with the employer under this contract is scheduled for April 1st, 2015.
We are offering you an exempt salary of $315,000. You will be part of the Annual Incentive Program with a bonus opportunity of 45% to 90%.
You will be eligible for all of the employee benefits available to Iberdrola USA Management Corporation employees, including 5 weeks’ vacation, life insurance and CIGNA medical insurance.
In addition, you will also be eligible for the following allowances.
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| • | Immigration assistance (family unit) |
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| • | Pre-assignment trip (family unit) |
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| • | Annual housing allowance: $42,000 (net) |
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| • | Annual car allowance: $12,000 |
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| • | Initial and return flights business class (family unit) |
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| • | Temporary lodging (30 days) |
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| • | Shipping of household/personal goods: 4m3 |
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| • | Tax assistance (year 1) |
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| • | Relocation lump sum: $10,000 (net) |
If you wish to accept this offer, please confirm this to me within 10 working days by returning this offer letter signed by you.
Dirección de Finanzas y Recursos
Tomás Redondo, 1 28033 Madrid
Tel 91 577 65 00 Fax 91 784 21 47
***@***
In the meantime, should you require any further information, please do not hesitate to contact me.
I would like to take this opportunity to wish you every success in your new role.
Yours sincerely,
/s/Ramón Castresana
Ramón Castresana
For and on behalf of Iberdrola USA Management Corporation
The Company follows the “at will” principle of employment which provides you or the Company the opportunity to end the employment relationship at any time. However, should the Company choose to end the employment relationship, using the “at will” principle, notice period and pensions provisions in the ScottishPower contract of employment will apply
Please indicate by your signature, your acceptance of this offer:
| /s/Sheila Duncan | 5 March 2015 |
| Sheila Duncan | Date |
