Domestic Relocation Assistance Repayment Agreement With Home Sale Assistance – Flextronics International Ltd.
Domestic Relocation Assistance Repayment Agreement With Home
Sale Assistance
Relocating Employee Must Sign This Agreement
I have read and fully understand Flextronics International USA, Inc
relocation assistance benefits as listed on the addendum to my offer letter.
This addendum describes the relocation benefits potentially reimbursable or paid
directly by the company on my behalf. My signature below acknowledges that I
have reviewed this information and fully understand the assistance to be
provided to me.
In return for Flextronics providing me with relocation assistance, I agree
that the amounts received directly by me, or paid to others on my behalf for
moving and relocation expenses (“relocation amount”) shall be considered
conditional payments until I have completed 24 months of employment with
Flextronics from an effective transfer date. If I voluntarily leave Flextronics
or am terminated for gross misconduct before serving 24 months from the
effective transfer date or do not relocate, I agree to promptly refund a pro
rated portion of all relocation expenses paid on my behalf based on the number
of months I have remained employed with Flextronics:
|
Relocation to Termination Date |
% Reimbursed by Transferee |
|||
|
1 month or less |
100 |
% |
||
|
2-3 months |
90 |
% |
||
|
4-5 months |
80 |
% |
||
|
6-7 months |
70 |
% |
||
|
8-9 months |
60 |
% |
||
|
10-11 months |
50 |
% |
||
|
12-13 months |
40 |
% |
||
|
14-15 months |
30 |
% |
||
|
16-17 months |
25 |
% |
||
|
18-19 months |
20 |
% |
||
|
20-21 months |
15 |
% |
||
|
22-23 months |
10 |
% |
||
|
23-24 months |
5 |
% |
||
The signature on this agreement is considered authorization for Flextronics
to withhold, if necessary and permissible, any such amount due from my salary or
other accrued compensation and deduct the above amount from my last paycheck.
I understand that this agreement does not alter my status as an employee at
will of Flextronics or one of its subsidiaries, and that my employment may be
terminated at any time, with or without cause and with or without notice. In
addition, I understand that if my employment with Flextronics ends before
serving 24 months from my effective transfer date, for whatever reason, that all
benefits under this agreement will immediately cease.
|
/s/ Francois Barbier Relocating Employee Signature |
Francois Barbier Print Name |
7/1/2010 Date |
Rev. 10.0.07
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