{"id":39015,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-blockbuster-inc-and-nigel-travis4.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-blockbuster-inc-and-nigel-travis4","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-blockbuster-inc-and-nigel-travis4.html","title":{"rendered":"Employment Agreement &#8211; Blockbuster Inc. and Nigel Travis"},"content":{"rendered":"<pre>\n[LOGO]\n\nNovember 13, 2000\n\nNigel Travis\n5109 Heather Court\nFlower Mound, Texas 75028\n\nDear Nigel, \n\nI am pleased to confirm your continued eligibility and participation in the \nfollowing benefits connected with your Blockbuster Inc. assignment in the US, in\naddition to those described in your employment agreement, effective as of the \ndate of such employment agreement. This letter will serve as an addendum of your\nemployment agreement with Blockbuster Inc.\n\nPension\n-------\n\nWhile on assignment in the US, you will continue to participate in the \nBlockbuster Inc. Pension and Death Benefits Scheme at the current contribution \nlevel of 15% of Salary (as defined in your employment contract) on a tax-free \nbasis. Such participation is in lieu of your eligibility to participate in the \nCompany's Investment Plan (401(k)) and excess investment plan.\n\nLife Insurance\/Assurance\n------------------------\n\nWhile on assignment, you will be provided two times your annual salary in life \ninsurance under the US life insurance benefit plan, or any other additional \ncoverage that may be established for executives at your level. In addition, you \nwill be covered at two times your annual salary under the UK life assurance \nplan. Between these two plans and any supplemental life insurance you may \nvoluntarily elect under the US plan, your total life insurance\/assurance shall\nnot exceed six times your annual salary.\n\nHome Country Housing\n--------------------\n\nAssuming you continue to retain your UK residence during the assignment, the \nCompany will extend the standard applicable provisions of its International \nRelocation Policy including:\n\n.  Home Retention Allowance if you move back to your home in the UK, and \n.  Reimbursement of Home Management Fees for the duration of your assignment.\n\nCar Allowance\n-------------\n\nThe Company will provide you with one automobile under Blockbuster's executive \nlease plan. Your monthly lease payment under the plan will be up to $750 plus \ninsurance for one automobile.\n\n\n \nVacation &amp; Holidays\n-------------------\n\nVacation entitlement will continue to be determined in accordance with policy in\neffect within Blockbuster UK.  You will adopt the work schedule, including hours\nof work, time off, and public holidays in accordance with the US.\n\nHome Leave\n----------\n\nAfter each anniversary (twelve months) of your assignment, you and your \ndependents in the US will be eligible for a Home Leave.  This may be taken after\neach twelve months of assignment (provided the assignment is scheduled to last \nat least another eight weeks), at a time that is mutually convenient for you and\nthe Company.  Home leave includes all dependents in the US living with you and \ndependent children in the UK visiting the US. Home Leave includes airfare, \naccommodations, and car rental.  Meals and other incidentals are not included.  \nBusiness-class travel is permitted to and from the UK for Home Leave.\n\nStorage of Household Goods\n--------------------------\n\nThe Company will reimburse the cost of storing in your Home Location any goods \nyou do not wish to ship to the US.  Storage costs will be covered for the \nduration of your assignment.\n\nTax Services\n------------\n\nThe Company will retain the services of an expert international tax advisor \nannually (currently Price Waterhouse Coopers) to assist in the preparation of \nyour personal US and UK tax returns during any full or partial years of your \nassignment.  Personal financial information provided to these advisors remains \nconfidential and details of that information are not shared with the Company, \nexcept as necessary.\n\nSocial Security, Medicare, and Workers' Compensation\n----------------------------------------------------\n\nDuring the assignment, you and the Company will continue FICA contributions as \nrequired by the US Federal Government.  It is also understood that you may \ncontinue to participate in the UK NIC by making voluntary contributions of\n(Pounds)325 per year. Please consider Dan Satterthwaite your contact person for\nthis matter.\n\nBenefits for occupational injury or illness will be paid in accordance with \nlegal requirements of the US.\n\nAssignment Completion\n---------------------\n\nAt the end of your assignment, the Company will assist in your repatriation to \nthe UK.  This includes reimbursement of expenses associated with return travel, \nmovement of household goods, resettlement allowance of one-months base salary \n(net), temporary living in the home country for up to 30 days, rental of a car \nfor up to 15 days, and temporary storage of household goods in the U.S. for up \nto 90 days.\n\n\n\n \nShipment of Household Pets\n--------------------------\n\nThe Company will not pay costs associated with the relocation of household \npets. All costs incurred, including transportation, kennel expenses, travel \ndocumentation, veterinary inspections, and quarantine costs will be your sole \nresponsibility.\n\nReturn Shipment\n---------------\n\nAt the end of your assignment, the Company will pay for the return shipment of \nyour household goods. On the return shipment, you may ship up to an additional \n1,500 pounds of household goods beyond your original shipment.\n\nNigel, if the foregoing correctly sets forth your understanding, please sign one\ncopy of this letter and return it to me whereupon this letter shall constitute a\nbinding agreement between you and Blockbuster.\n\nSincerely yours,\n\n\/s\/ Larry J. Zine\nLarry J. Zine\nEVP, Chief Financial Officer\n\n\nAccepted and Agreed:\n\n\n\/s\/ Nigel Travis\n-------------------------\nNigel Travis\n\n12\/18\/00\n-------------------------\nDate:\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6911],"corporate_contracts_industries":[9469],"corporate_contracts_types":[9539,9544],"class_list":["post-39015","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-blockbuster-inc","corporate_contracts_industries-media__rental","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39015"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39015"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39015"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}