Terminations within 12 months of accepting new assignment

EX-10.34 4 dex1034.htm RELOCATION PAYBACK AGREEMENT BETWEEN WILLIAM YEATES AND SENSUS METERING SYSTEMS Relocation Payback Agreement between William Yeates and Sensus Metering Systems

Exhibit 10.34

Attachment B

RELOCATION PAYBACK AGREEMENT

Effective Date of Transfer 7-1-08

I, William T. Yeates agree to pay back relocation expenses in accordance with the following guidelines:

(Print Employee Name)

Terminations within 12 months of accepting new assignment

Voluntary Termination Within 12 months of accepting new assignment

If I voluntarily terminate within 12 months of accepting the new assignment I agree to pay 100% of all expenses reimbursed directly to me or on my behalf. Full payment will be made within 90 days from my departure date.

Involuntary Termination Within 12 months of accepting new assignment

If my employment is terminated involuntarily and at the discretion of Sensus Metering Systems I understand that I may have an obligation to pay back relocation expenses reimbursed to me or payments made on my behalf.

Terminations with 24 months of accepting new assignment

Voluntary Termination Within 24 months of accepting new assignment

If I voluntarily terminate within 24 months of accepting the new assignment I agree to pay all relocation expenses reimbursed directly to me or on my behalf in according to the payback schedule below.

Involuntary Termination Within 24 months of accepting new assignment

If my employment is terminated involuntarily and at the discretion of Sensus Metering Systems, I understand that I may have an obligation to pay back relocation expenses reimbursed to me, or payments made on my behalf according to the payback schedule below:


13^th Month	95%	17^th Month	75%	21^st Month	35%
14^th Month	90%	18^th Month	65%	22^nd Month	25%
15^th Month	85%	19^th Month	55%	23^rd Month	15%
16^th Month	80%	20^th Month	45%	24^th Month	5%


/s/ William T. Yeates	Date	6-5-08
Employee Signature

/s/ Michael DeCocco	Date	6-5-08
Sensus Metering Systems HR Signature

The top portion of this form is to be completed at the time of authorization to move. A copy of the signed form should be attached to the employee’s benefit package. The original should be retained by Sensus Metering Systems’ Human Resource Department.

To be filled out at the time of termination:

Date terminated Sensus Metering Systems to be paid back in full by

Reason(s)

Sensus Metering Systems Relocation Payback Agreement Rev. 5.05.06