Letter of Assignment and Relocation Agreement between Trimble Navigation Limited and Christopher Gibson
Trimble Navigation Limited is offering Christopher Gibson a transfer to the same General Manager position in Colorado, with an annual salary of $235,000 and eligibility for a management incentive bonus. The agreement covers pension plan continuity, relocation assistance, and visa support, with certain benefits contingent on signing a repayment agreement. If Gibson resigns within a year, he must repay relocation costs. Trimble guarantees one year’s notice or pay in lieu before termination, except for gross misconduct. The employment remains at-will, and compliance with U.S. work authorization laws is required.
Exhibit 10.24
Trimble Navigation Limited
10355 Westmoor Drive, Suite 100
Westminster, CO 80021
11 June 2008
Mr. Chris Gibson
Via Internal Email: ***@***
Dear Chris:
Trimble Navigation Limited (Trimble) is pleased to offer you a transfer from your current exempt position as General Manager, salary grade 99, reporting to Bryn Fosburgh, to the same position in Colorado. In the new location your salary will be paid on a bi-weekly basis aggregating to the equivalent of two-hundred and thirty-five thousand dollars (USD$235,000), annualized. You will continue to participate in Trimbles 2008 Management Incentive Plan for a potential target bonus of 35%, depending on company performance.
In addition, Trimble will provide partial continuity for your pension plan. An international contribution of 5% match of base salary and bonus payments may be made upon meeting specific criteria as outlined in a separate document. An option to select an alternative pension scheme may be in place before year-end; should this second option be made available you must state your preference of plans before January 1, 2009. The ten years of prior Trimble service accrued to date will be bridged according to company policy.
This offer is also pending the successful completion of the immigration process to secure a temporary visa. If you voluntarily terminate employment within one year of your hire date, Trimble will seek pro-rated reimbursement of these visa expenses, except where prohibited by law. In addition, Trimble will assist you with your relocation, to be processed by GMAC in accordance with the companys relocation policy and those benefits approved for you. Further information on the policy and specific benefits available to you will be provided by GMAC and Trimbles Global Mobility organization.
Should Trimble terminate your employment, for any reason other than gross misconduct, your repatriation to England at Company expense is assured. Repatriation benefits also apply if you resign for the express purpose of retirement in England but not before the year 2016. Resignation, for any other cause, negates Trimbles need to pay or assist with a subsequent relocation.
All relocation benefits are provided contingent upon your signing a Relocation Repayment Agreement, which will be provided by GMAC. Among other things, this agreement notes the required full repayment of the gross value of any benefits provided to you within one year of a voluntary termination from Trimble or any of its subsidiaries or affiliate companies. No benefits will be provided until this agreement is signed and returned to your GMAC relocation representative. Upon acceptance of your employment offer or if you have any questions about the relocations benefits being offered to you, please contact Linnea Hickman at (408)  ###-###-####.
This offer is in compliance with the Immigration Reform and Control Act of 1986, which requires the Company to verify that each employee hired is legally entitled to work in the United States.
Chris Gibson Transfer
11 June 2008
Page Two
A copy of the List of Acceptable Documents as published by the Citizenship and Immigration Services (CIS) will follow at a later time. Please be prepared to bring one document from list A or one document from both List B and C. This information must be provided at your New Hire Orientation. Failure to provide this information, as required by law, may result in termination.
Trimble is an at will employer, meaning that the employer or employee can terminate the employment relationship at any time, with or without cause. Should you choose to resign from Trimble we request one years advance notice. In return, Trimble guarantees to provide one years notice prior to termination, or the equivalent pay in lieu of said notice; except in the event of gross misconduct. While other terms of your employment may change from time to time, the at will term and nature of your employment will not change.
Chris, Trimbles success is derived from the people who work here. Your acceptance of this offer will be enthusiastically received and we feel confident that you will continue to make a significant contribution to our success.
You may accept this offer in writing electronically by inserting your name in the space provided below and sending back the letter by email to me at ***@***.
We request a reply from you no later than 9 June 2008 in order for this offer to remain valid. As soon as we receive your acknowledgement, you will receive further information regarding the immigration process and local Orientation, including additional documents you will be required to return.
Please call me if you have any questions or if I can be of additional assistance. I can be reached at (720)  ###-###-####.
Best regards,
/s/ Deborah Hollands
Deborah L. Hollands
Director, Human Resources
cc: | Bryn Fosburgh | |
Linnea Hickman |
I accept this transfer and new assignment effective 1 August 2008.
/s/ Christopher Gibson |
| |||
Signature | Date Accepted |