Relocation Benefits Agreement between Motorola and Tom Lynch (February 2002)
This agreement outlines the relocation benefits provided by Motorola to Tom Lynch for his move from Langhorne, PA to Schaumburg, IL. Tom will receive monthly payments of $7,400 for living expenses from January 2002 to December 2003, with taxes withheld. He may choose to use Motorola’s standard relocation package, including home sale and purchase benefits, within this period. Any apartment lease responsibility transfers to Tom as of February 2002. The Global Assignment Center will assist with the process. Tom must sign and return the letter to confirm acceptance of these terms.
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Exhibit 10.27
Mr. Tom Lynch
1321 Taylor Drive
Langhorne, Pa 19047
February 4, 2002
Dear Tom,
This letter will serve as confirmation regarding the details of your relocation from Langbourne, Pa to Schaumburg, IL.
Relocation Benefits
Based on current needs, the standard Motorola relocation package will be delayed until such time as you wish to implement it.
Until that time, a check, in the amount of $7400, will be issued on a monthly basis, to cover living expenses. The payments will be provided for two years, effective January 2002 and ending December 2003. Per your request, you will assume the tax responsibility on these payments. Therefore, appropriate taxes will be withheld from these payments.
Within the two-year period, you may elect to initiate Motorola's Relocation package, including Home Sale and Home Purchase benefits. Upon completion of your relocation, Motorola will pay your relocation expenses, less any previously paid amounts. Any responsibility for the 12 Oaks Apartment secured on your behalf will be your responsibility as of February 2002.
Tax Impact
The monthly relocation checks will not be grossed up. The balance of your relocation benefits will include tax gross up where appropriate according to policy.
GAC Contact
The Global Assignment Center (GAC) will assist you during the relocation process, including processing the monthly checks. Susan Kubiesa will be your GAC contact. She may be reached by phone at ###-###-####, Sky Te12 pager, PIN 1192802, or email s ***@***.
If you are in agreement with the terms and conditions of your relocation benefits as described in this letter, please sign the bottom of this letter as indicated and return to the Global Assignment Center, fax ###-###-####.
/s/ Thomas J. Lynch 2/4/02 Tom Lynch Date | /s/ Glenn Gienko Glenn Gienko Date | |
/s/ Susan Kubiesa 2/22/02 Susan Kubiesa Date |
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- Exhibit 10.27
