Exide Technologies Home Sale Loss Reimbursement Agreement with Edward R. Tetreault

Summary

Exide Technologies agrees to reimburse Edward R. Tetreault for 50% of the documented loss on the sale of his current home, up to $300,000, with an additional payment to cover any related tax liability. This reimbursement is contingent upon Mr. Tetreault remaining employed with the company through the date of the home sale. The payment will be made within 60 days after the sale, and any tax gross-up will be paid by the end of the following tax year.

EX-10.6 2 g26013exv10w6.htm EX-10.6 exv10w6

Exhibit 10.6

December 22, 2010

December 22, 2010

Edward R. Tetreault

Dear Ed:

This letter confirms the terms of the obligation of Exide Technologies, as set forth in your offer letter drafted September 16, 2011, to reimburse you fifty per cent (50%) of the documented loss on sale of your existing home up to a maximum reimbursement of $300,000, subject to gross up to address any tax liability. The Company’s obligation to reimburse you for such amount is contingent on your remaining as an employee of the Company through the date of the sale of your existing home and such reimbursement will be made within sixty (60) days following such sale. In addition, any gross up payment shall be made by the end of your tax year following the year in which you remit the related taxes.

Sincerely,

James R. Bolch
Chief Executive Officer

If the above-stated terms are agreeable, please sign below and return this letter.



/s/ Edward R. Tetreault		Edward R. Tetreault
Signature	Date	Print Name