Separation Agreement between Cognex Corporation and Eric Ceyrolle dated April 24, 2009

Contract Categories: Human Resources › Separation Agreements
Summary

This agreement outlines the terms of Eric Ceyrolle's separation from Cognex Corporation and Cognex International, Inc. Eric will receive his regular monthly salary through July 15, 2009, payment for unused vacation days, a lump sum settlement of 182,617 Euros, and reimbursement for tax preparation costs up to 9,375 Euros. Cognex will also cover health insurance contributions through the end of 2009 and reimburse professional expenses incurred before the termination date. All payments will comply with French and U.S. law.

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EX-10.AA 6 b78676exv10waa.htm EX-10AA MEMORANDUM TO ERIC CEYROLLE REGARDING SEPARATION, DATED APRIL 24, 2009 exv10waa
Note: This exhibit has been re-filed to correct a typographical error.   EXHIBIT 10AA
Memo
     
Date:
  April 24, 2009
 
    
To:
  Eric Ceyrolle
 
    
From:
  Dick Morin
 
    
RE:
  Separation from Cognex
The following summarizes our agreement regarding the compensation and related benefits to be paid to you in connection with your separation from Cognex Corporation and its affiliate, Cognex International, Inc. The payment of such amounts shall be made in accordance with applicable French and U.S. law and in such manner as we may otherwise agree.
  •   You will receive your gross monthly salary (17,578 Euros) through July 15, 2009 (the “Termination Date”) and on the usual payment dates.
 
  •   You will receive payment of any outstanding vacation days accrued but not taken up to the Termination Date (subject to social contributions).
 
  •   You will receive an additional payment of 182,617 Euros on the Termination Date in settlement of your rights under French law.
 
  •   You will be entitled to receive up to a total maximum amount of 9,375 Euros to cover (upon presentation of related receipts) reasonable and customary costs incurred by you to prepare your tax documents for 2009.
 
  •   Cognex will pay to your current French “mutuelle” health insurance the greater of (a) the employer and employee contributions due until the end of 2009 and (b) the amount required of us by French law.
 
  •   You will be entitled to the reimbursement of customary professional expenses incurred by you prior to the Termination Date in accordance with our policies and procedures.