Terminations within 12 months of accepting new assignment
Exhibit 10.34
Attachment B
Effective Date of Transfer 7-1-08
I, Xxxxxxx X. Xxxxxx agree to pay back relocation expenses in accordance with the following guidelines:
(Print Employee Name)
Terminations within 12 months of accepting new assignment
Voluntary Termination Within 12 months of accepting new assignment
If I voluntarily terminate within 12 months of accepting the new assignment I agree to pay 100% of all expenses reimbursed directly to me or on my behalf. Full payment will be made within 90 days from my departure date.
Involuntary Termination Within 12 months of accepting new assignment
If my employment is terminated involuntarily and at the discretion of Sensus Metering Systems I understand that I may have an obligation to pay back relocation expenses reimbursed to me or payments made on my behalf.
Terminations with 24 months of accepting new assignment
Voluntary Termination Within 24 months of accepting new assignment
If I voluntarily terminate within 24 months of accepting the new assignment I agree to pay all relocation expenses reimbursed directly to me or on my behalf in according to the payback schedule below.
Involuntary Termination Within 24 months of accepting new assignment
If my employment is terminated involuntarily and at the discretion of Sensus Metering Systems, I understand that I may have an obligation to pay back relocation expenses reimbursed to me, or payments made on my behalf according to the payback schedule below:
| 13th Month | 95% | 17th Month | 75% | 21st Month | 35% | |||||
| 14th Month | 90% | 18th Month | 65% | 22nd Month | 25% | |||||
| 15th Month | 85% | 19th Month | 55% | 23rd Month | 15% | |||||
| 16th Month | 80% | 20th Month | 45% | 24th Month | 5% |
| /s/ Xxxxxxx X. Xxxxxx |
Date | 6-5-08 | ||
| Employee Signature | ||||
| /s/ Xxxxxxx XxXxxxx |
Date | 6-5-08 | ||
| Sensus Metering Systems HR Signature | ||||
The top portion of this form is to be completed at the time of authorization to move. A copy of the signed form should be attached to the employee’s benefit package. The original should be retained by Sensus Metering Systems’ Human Resource Department.
To be filled out at the time of termination:
Date terminated Sensus Metering Systems to be paid back in full by
Reason(s)
Sensus Metering Systems Relocation Payback Agreement Rev. 5.05.06
