Termination within 24 months of accepting new assignment

EX-10.36 5 dex1036.htm RELOCATION PAYBACK AGREEMENT BETWEEN JEFFERY J. KYLE AND SENSUS METERING SYSTEMS Relocation Payback Agreement between Jeffery J. Kyle and Sensus Metering Systems

Exhibit 10.36

 

 

Attachment B

RELOCATION PAYBACK AGREEMENT

Effective Date of Transfer 12/8/08

I, Jeffrey J. Kyle agree to pay back relocation expenses in accordance with the following guidelines:

Termination within 24 months of accepting new assignment

If I voluntarily terminate employment or I am involuntarily terminated within the first two years after the transfer date (defined as the commencement of salary at the destination location), I will repay all relocation benefits previously paid by the Company, according to the following graduated scale.

 

1st - 12th Month   100%   17th Month   75%   22nd Month   25%
13th Month     95%   18th Month   65%   23rd Month   15%
14th Month     90%   19th Month   55%   24th Month     5%
15th Month     85%   20th Month   45%   25th Month     0%
16th Month     80%   21st Month   35%    

 

/s/ Jeffrey J. Kyle

    Date        2/16/09                    
Employee Signature      

/s/ Michael DeCocco

    Date        2/16/09                    
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 given to the employee. 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. 08-01-08