Term Sheet for Relocation for David Coller
EX-10.10 4 ex10_10.htm EXHIBIT 10.10 Unassociated Document
Exhibit 10.10
Summary of Coller Relocation Terms
Term:
| | · | Initially 3 years, renewable in 1 year increments by mutual agreement |
Start Up Costs:
| | · | Reimburse for physical exams for family members. |
| | · | Reimburse immigration expenses (US PR protection and HK employment visas) |
| | · | One month’s salary (gross) for miscellaneous expenses |
| | · | Reimburse spouse’s and 2 children’s initial travel cost to assignment (economy), including dog |
| | · | Move household goods from PA home to ID home |
| | · | Purchase PA home at appraised value |
| | · | Reimburse HK home realtor fee |
| | · | Reimburse cost of furniture up to US$10,000 |
| | · | Reimburse cost of income tax consultation |
Ongoing Costs:
| | · | Reimburse reasonable housing and utilities costs with a target of US$12,500 per month |
| | · | A monthly goods and services differential allowance of US$2,804 |
| | · | Reimburse primary/secondary schooling costs for daughter and youngest son up to US$20,000 per year each |
| | · | Reimburse cost of international medical insurance for Coller, spouse and 2 children |
| | · | Reimburse cost of travel for home leave for spouse and 2 children once per year (economy) |
| | · | Reimburse cost of travel for oldest son from US to HK 2 times per year (economy) |
| | · | Reimburse cost or assume lease on car |
| | · | Reimburse cost of annual tax filing preparation |
| | · | Gross up and equalize income taxes on all taxable payments and reimbursements, excluding PA home purchase and one month’s salary for miscellaneous expenses |
| | · | Reimburse emergency leave or evacuation costs |
Repatriation Costs:
| | · | Reimburse spouse’s and 2 children’s travel cost to home (economy), including dog |
| | · | Reimburse cost of income tax consultation |
