Exhibit 10.52
BIOGEN IDEC RELOCATION AGREEMENT
This document will serve to acknowledge that I have accepted a new position of
employment with Biogen Idec, which will involve the relocation of my residence.
Biogen Idec is willing to pay on my behalf, or reimburse me for, certain
expenses that may be incurred in connection with such relocation, so long as I
remain an employee of Biogen Idec for at least two years. I hereby accept Biogen
Idec's offer of assistance as follows:
I acknowledge that Biogen Idec's agreement to pay on my behalf, or reimburse me
for, certain expenses, which may be incurred in relocating my residence,
including the nature and the amount, and the timing and method of such payment
or reimbursement, shall be in accordance with Biogen Idec's relocation
policies and procedures in effect at the time of my relocation.*
Certain payments/reimbursements from Biogen Idec for relocation and housing will
become taxable income to me. If Biogen Idec terminates my employment for cause,
repayment will be required according to the following schedule: (i) if my
employment terminates on or before July 28, 2005, I will be required to repay to
Biogen Idec the full dollar amount of the relocation package, or (ii) if my
employment terminates on or beforeJuly28, 2006, I will be required to repay to
Biogen Idec half of the dollar amount of the relocation package.
a. The start date of employment in my new position July 28, 2004
b. If required to make repayments, I shall pay to Biogen Idec all such
taxable amounts within six months of the effective date of termination
of employment with Biogen Idec or by year-end (provided that in no
event shall any amounts become due for at least ninety days after
termination), whichever comes first. I shall pay to Biogen Idec all
such non-taxable amounts within six months following the effective
date of termination of employment with Biogen Idec. Biogen Idec may
deduct, withhold and retain all or any portion of the amount which I
may be required to refund or repay to Biogen Idec hereunder from any
wages, salary, vacation pay or severance pay which may be due and
owing to me upon termination of employment. I shall remain liable to
Biogen Idec for any amounts in excess of the sums so deducted,
withheld and retained by Biogen Idec.
Except as stated above, I shall have no liability or responsibility to refund or
repay to Biogen Idec any amounts paid by Biogen Idec on my behalf or reimbursed
to me in connection with the relocation of my residence.
My signature below acknowledges that I have read this document and agree to its
terms.
* exceptions to this relocation policy include: 1) a three year period is
allowed to sell existing home in San Diego, but the costs to Biogen Idec
shall not exceed the current appraised value plus one year of estimated
appreciation (such estimated appreciation to be mutually agreed upon), and
2) two moves of household goods will be covered within a three year period,
but household contents in the two moves are not to exceed the household
goods currently in the existing home at the time of the first move.
Xxxx Xxxxxxx ----------------------------------------
Employee Name (Please Print) Social Security Number
/s/ Xxxx Xxxxxxx 9/2/04
------------------------------------- Date
Employee Signature
