Relocation and Sign-On Bonus Repayment Agreement between Jordan Siegel and Nabi Biopharmaceuticals

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement between Jordan Siegel and Nabi Biopharmaceuticals states that if Mr. Siegel leaves the company voluntarily or is terminated for cause within 12 months of his start date, he must repay all or part of the relocation expenses and/or sign-on bonus provided by the company. The amount to be repaid decreases each month according to a set schedule, with the repayment obligation ending after 12 months. Both the employee and an HR representative have signed and dated the agreement.

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EX-10.4 5 dex104.htm RELOCATION AND SIGN-ON BONUS AGREEMENT Relocation and Sign-On Bonus Agreement

Exhibit 10.4

RELOCATION/SIGN-ON BONUS REPAYMENT AGREEMENT

I, Jordan Siegel, agree that I will reimburse Nabi Biopharmaceuticals for relocation expenses and/or a sign-on bonus paid on my behalf, if I voluntarily terminate my employment with Nabi Biopharmaceuticals or I am terminated for cause within twelve (12) months after my start date. The following pro-rated repayment schedule will apply:

 

1st Month   92%   7th Month   44%
2nd Month   84%   8th Month   36%
3rd Month   76%   9th Month   28%
4th Month   68%   10th Month   20%
5th Month   60%   11th Month   12%
6th Month   52%   12th Month      4%

 

/s/ Jordan Siegel

   

4/29/06

Employee Signature    Date

/s/ Thomas H. McLain

   

April 29, 2006

HR Representative Signature    Date