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Exhibit 10.2
Agreement concerning
reimbursement of certain expenses
Xxxxxxx X.X. Xxxxxxx
May 3rd 2004
To Whom It May Concern:
SUBJECT: XXXXXXX X.X. XXXXXXX RELOCATION COVERAGES
- Amendments to agreement 14-10-03
To provide detailed information regarding the coverage of relocation expenses and on-going compensation for Xxxxxxx X.X. Xxxxxxx.
The following have been discussed and agreed upon:
1.
The following applies for Employees Owning their Own Home:
Settlement
Costs – Old Home
Reimbursable
settlement expenses include real estate commission, attorney fees for settlement and
preparation of deed, transfer taxes,
termite inspection and lender’s inspection fee.
Settlement
Costs – New Home
Reimbursement
settlement expenses include loan origination fee, attorney fees, loan application
fee, title insurance and other
title charges, recording fees, transfer taxes, notary fees and
document
preparation fees.
Overlapping Expenses
If
the employee’s house is unsold and vacant after relocation, the employee will be
reimbursed for
monthly carrying charges, taxes, insurance,
utilities and general maintenance for a period of up to
six months. Such reimbursement is not to exceed
$2,500.00 per month.
2.
The following applies for Employees in an International Relocation:
White Goods
The
Company will reimburse the expenses for household and white goods, etc.
Travel
The Company
will cover four (4) family travel trips back to the UK each year.
3. In
the event of separation from the Company, other than for cause, during the
first 2 year(s) after relocation, (October 31st 2003), the
Company will reimburse relocation costs for return back to the UK on
the same basis as the original relocation to the US. If transferred
to work back to a Stratos International company in the UK standard
relocation costs would be borne.
4.
Seventy-five percent of your salary will be paid for work out of the Corporate
Offices in the United
States. Twenty-five percent of your salary will be paid for work out of the UK facility
for the UK company. The salary and expenses will be paid out of the UK offices in Sterling
until it is mutually agreed to pay part out of the US. The employees UK N1 and the company
pension contributions will continue to be paid out of the UK company to maintain pension
rights, etc.
5.
The employments at Stratos in the US will continue to be treated as a
secondment to R Durrants UK contract of employment.
6.
Your car allowance will be equitably adjusted to U.S. dollars and cover similar
expenses as it currently does in the UK. (Gross $1300 per month paid directly
into a US Bank account).
7.
The Company will sponsor and cover legal costs with regards to the INS-Resident
Alien Application process for Green Card status and maintenance of current visa
status.
8.
Health insurance will be effective October 31, 2003 for employee and covered
dependents. This will include Exec-U-Care benefits for employee and dependents.
9.
The company will continue to provide for E&Y or other professional Non
Immigrant dual taxation filing services and reasonable advice for the period of
relocation.
I believe that this letter covers all
outstanding issues. Please contact me if you have any questions.
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