Special Retention Bonus Agreement between Ford Motor Company and Mark Fields dated October 5, 2005

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Ford Motor Company agrees to pay Mark Fields a special cash retention bonus of $1,000,000, subject to tax withholdings, to be paid before October 14, 2005. If Mark Fields voluntarily leaves the company within 24 months of receiving the bonus, he must repay the full amount within two weeks of his departure. This agreement is intended to encourage his continued employment with Ford.

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EX-10.CC 20 ex10_cc.htm EXHIBIT 10-CC AGREEMENT BETWEEN FORD MOTOR COMPANY AND MARK FIELDS DATED OCTOBER 5, 2005.** Exhibit 10-CC Agreement between Ford Motor Company and Mark Fields dated October 5, 2005.**
Exhibit 10-CC
Joe W. Laymon
Group Vice President
Corporate Human Resources and Labor Affairs







   October 5, 2005


To:  Mr. Mark Fields


Subject:  Special Retention Bonus

 

 
This letter is to confirm discussions relative to compensation issues and your continued employment with Ford Motor Company.

The following actions have been approved by the Board of Directors of Ford Motor Company:

You will receive, before October 14, 2005, a special cash retention bonus of $1,000,000, less appropriate withholdings for taxes. If you voluntarily leave Ford Motor Company within the 24-month period following receipt of this special retention bonus the entire amount must be repaid in full to the Company within two weeks of your departure.

Mark, we value the contributions you have made and we look forward to your continued success with Ford Motor Company.


Regards,


/s/ Joe Laymon   
Joe Laymon






Acknowledgement: /s/ Mark Fields  
Mark Fields

Date:   October 5, 2005