Chairman Remuneration Agreement between Mettler-Toledo International Inc. and Robert F. Spoerry (2011)

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the 2011 compensation terms for Robert F. Spoerry as Chairman of Mettler-Toledo International Inc. He will receive a fixed annual salary of CHF 400,000, paid monthly, and an annual expense allowance of CHF 15,600, also paid monthly. He will not participate in cash incentive plans. The agreement specifies insured salary amounts for retirement, risk coverage, and accident insurance. Either party may terminate the agreement with three months' notice, effective at the end of a month.

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EX-10.1 2 tp8kex10_1.htm tp8kex10_1.htm
 
 
Exhibit 10.1
 
 
[LETTERHEAD OF METTLER-TOLEDO INTERNATIONAL INC.]
 
PERSONAL / CONFIDENTIAL
Mr. Robert F. Spoerry
Wängirain 43
8704 Herrliberg


   
Date
  November 30, 2010
Reference
  PB/em
Direct Dial
  +41 ###-###-####
Telefax
  +41 ###-###-####


Remuneration 2011

Dear Robert,

I herewith confirm your remuneration as Chairman for 2011 as follows:
 
1.
Fixed Salary of CHF 400’000.00 per annum; effective January 1, 2011, payable in twelve equal monthly installments of CHF 33’333.35. No participation in cash incentive plans.
 
2.
Your expense allowance is CHF 15'600.00 on a yearly base and will be paid out in monthly installments of CHF 1'300.00. We would like to recall adherence to the regulations contained in “Spesenreglementsergänzung Gruppenleitung” (edition of April 1997).
 
3.
The insured salary in the Mettler-Toledo Fonds is as follows:
 
·  
Retirement                            CHF 400’000.00
·  
Risk Coverage                      vested rights
 
4.
The insured salary in the additional accident insurance is CHF 999’999.00.
 
5.
The Notice Period is 3 months to the end of a month for both parties.
 
 
 


Yours sincerely,

/s/ Peter Bürker

Peter Bürker
Head Human Resources