In the event that you separate from the company for any reason other than layoff before completing 24 months in your new role, you will be required to repay all or part of the company financed relocation assistance you received. Any such repayment may be deducted in whole or in part from any final payments due to you. A Relocation Payback Agreement is enclosed and must be signed and returned to the Company before any relocation benefits are delivered.
For calendar years 2016 and 2017, your Company compensation will be subject to the Companys Tax Equalization policy. The philosophy of Tax Equalization is that you pay approximately the same amount of tax you would have paid had you remained in Singapore. This can include federal, state, provincial, township and social program taxes but does not include real estate property taxes. Any incremental tax liability in the United States for earnings and benefits related to your employment with the Company arising during 2016 and 2017 will be paid by the Company. You will be solely responsible for all U.S. and other incremental taxes related to personal assets and earnings.
The Company, through EY, provides and directly pays for tax consultation and tax preparation services. Singapore and United States tax returns will be prepared by EY at the expense of the Company. You are expected to cooperate with EY in furnishing timely, complete and accurate information necessary to prepare the tax returns. In addition, you are required to sign all documents necessary to implement the tax payment and equalization process (e.g., loan agreement, tax procedures memo). Should you choose to use your own tax service provider; the Company will NOT reimburse you for the fees of your own tax service provider.
If you exercise and/or sell equity, sell any real estate or experience any change in personal income, you are advised to notify EY within 30 days in advance, so that appropriate tax planning can be arranged. After 2017, you are solely responsible for your taxes without any tax equalization assistance from the Company. The one exception is any earned AIP payout for fiscal 2017 that is paid in the first quarter of fiscal 2018 will also be tax equalized.
Please contact Scott White, VP of Total Rewards, if you have questions about our incentive programs, benefits, or tax equalization policy.
Worldwide Code of Business Conduct
LS&Co.s Worldwide Code of Business Conduct (WCOBC) sets out basic principles to guide all employees of the Company on how LS&Co. conducts business, while at the same time providing helpful guideposts for behavior while on the job. Compliance with the WCOBC is a fundamental condition of employment, and employees are required to sign a Statement of Commitment agreeing to abide by the principles set forth in the document. LS&Co.s WCOBC is available for review on our website at http://www.levistrauss.com/careers/culture.
Non-Solicitation of Employees
In order to protect Confidential Information (as defined in the enclosed Employee Invention and Confidentiality Agreement), you agree that so long as you are employed by LS&Co., and for a period of one year thereafter, you will not directly or indirectly, on behalf of yourself, any other person or entity, solicit, call upon, recruit, or attempt to solicit any of LS&Co.s employees or in any way encourage any