{"id":40319,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/relocation-expenses-agreement-amd.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"relocation-expenses-agreement-amd","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/relocation-expenses-agreement-amd.html","title":{"rendered":"Relocation Expenses Agreement – AMD"},"content":{"rendered":"

RELOCATION EXPENSES AGREEMENT <\/strong><\/p>\n

\n

This Relocation Expenses Agreement (the “Agreement”) is entered into by and
\nbetween Advanced Micro Devices, Inc. (“AMD”) and Read, Rory<\/strong>
\n(“Employee”) (collectively, the “Parties”).<\/p>\n<\/p>\n\n\n\n
\n

1.<\/p>\n<\/td>\n

Relocation Expenses.<\/u><\/p>\n

AMD agrees to provide Employee, and\/or designated third parties on behalf of
\nEmployee, certain expenses associated with Employee’s relocation in connection
\nwith Employee’s AMD employment (“Relocation Expenses”). Relocation Expenses
\nshall include only those expenses authorized and described in the enclosed
\nRelocation Guidelines, and\/or other expenses related to Employee’s relocation
\nthat are pre-approved in writing by an AMD Vice-President. Employee’s
\nestimated<\/strong> relocation expenses are $244,607<\/strong>.
\nActual Relocation Expenses may be greater or less, and the terms of this
\nAgreement apply only to the amount actually incurred by or paid to Employee.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

2.<\/p>\n<\/td>\n

Repayment of Relocation Expenses.<\/u><\/p>\n

Employee agrees to repay to AMD all or a prorated amount of the Relocation
\nExpenses, according to the following terms:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(a)<\/p>\n<\/td>\n

Repayment Due to Termination of Employment. <\/u><\/p>\n

If Employee’s employment with AMD terminates less than 13 full months after
\nthe effective date of Employee’s hire or transfer, Employee agrees to repay one
\nhundred percent (100%) of the Relocation Expenses paid by AMD. If Employee’s
\nemployment with AMD terminates at least 13 full months after the effective date
\nof Employee’s hire or transfer, but less than 24 full months after the effective
\ndate of Employee’s hire or transfer, Employee agrees to repay the full amount of
\nthe Relocation Expenses paid by AMD, less eight point thirty-three
\npercent (8.33%) for each full month of employment completed after the twelfth
\nmonth of employment<\/strong>. Employee agrees that repayment obligations under
\nthis Agreement are not reduced by completion of partial months of employment.
\nEmployee further agrees that Employee will repay Relocation Expenses by no later
\nthan the effective date of the employment termination, and that any outstanding
\nbalance on such repayment obligation is delinquent and immediately collectable
\nthe day following the effective date of termination.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

Repayment Forgiveness.<\/u><\/p>\n

AMD agrees to forgive any repayment due AMD under this Agreement where AMD
\nterminates Employee’s employment due to a company- or department-wide
\nreduction-in-force. AMD may also, in its sole discretion, forgive any repayment
\ndue AMD under this Agreement under circumstances of an extraordinary or
\nunavoidable nature. The Parties agree that Employee’s voluntary termination of
\nhis\/her employment, or AMD’s termination of Employee’s employment for any reason
\nother than those stated in this section 2(b), are not conditions requiring
\nforgiveness of any repayment due AMD under this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

3.<\/p>\n<\/td>\n

No Guarantee of Continued Employment.<\/u><\/p>\n

Nothing in this Agreement guarantees employment for any period of time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

4.<\/p>\n<\/td>\n

Consent to Offset.<\/u><\/p>\n

Employee agrees that any repayment due AMD under this Agreement may be
\ndeducted to the extent permitted by law from any amounts due Employee from AMD
\nat the time of employment termination, including wages, accrued vacation pay,
\nincentive compensation payments, bonuses and commissions, and hereby expressly
\nauthorizes such deduction(s).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

5.<\/p>\n<\/td>\n

Acknowledgements and Integration.<\/u><\/p>\n

Employee understands he\/she has the right to discuss this Agreement with any
\nindividual, and that to the extent desired, he\/she has availed himself\/herself
\nof this opportunity. Employee further acknowledges that he\/she has carefully
\nread and fully understands the provisions of this Agreement, and that he\/she is
\nvoluntarily entering into it without any duress or pressure from AMD. Employee
\nalso understands and acknowledges that this Agreement is the entire agreement
\nbetween him\/her and AMD with respect to this subject matter, and Employee
\nacknowledges that AMD has not made any other statements, promises or commitments
\nof any kind (written or oral) to cause Employee to agree to the terms of this
\nAgreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

6.<\/p>\n<\/td>\n

Severability.<\/u><\/p>\n

The Parties agree that should any provision of this Agreement be declared or
\ndetermined by any court to be illegal, invalid or unenforceable, the remainder
\nof the Agreement shall nonetheless remain binding and enforceable and the
\nillegal, invalid or unenforceable provision(s) shall be modified only so much as
\nnecessary to comply with applicable law.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

EMPLOYEE<\/p>\n<\/td>\n

<\/td>\n\n

ADVANCED MICRO DEVICES, INC.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Signature:<\/p>\n<\/td>\n

<\/td>\n\n

\/s\/ Rory P. Read<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

By:<\/p>\n<\/td>\n

<\/td>\n\n

\/s\/ David Lasater<\/p>\n<\/td>\n<\/tr>\n

\n

Printed Name:<\/p>\n<\/td>\n

<\/td>\n\n

\/s\/ Rory Read<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

Title:<\/p>\n<\/td>\n

<\/td>\n\n

\/s\/ Sr. Manager, HR<\/p>\n<\/td>\n<\/tr>\n

\n

Date:<\/p>\n<\/td>\n

<\/td>\n\n

9\/8\/2011<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

Date:<\/p>\n<\/td>\n

<\/td>\n\n

9-8-11<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6576],"corporate_contracts_industries":[9512],"corporate_contracts_types":[9539],"class_list":["post-40319","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-advanced-micro-devices-inc","corporate_contracts_industries-technology__semiconductors","corporate_contracts_types-compensation"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40319","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=40319"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40319"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40319"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}