BONUS AGREEMENT
Exhibit
10.4 Bonus Agreement with Xxxx Xxxx
This
Bonus Agreement (the “Agreement”) between Symmetry Medical Inc. (“Symmetry”) and
Xxxx Xxxx (“Xx. Xxxx”) is made this 11th day of January, 2011.
WHEREAS,
the Board of Directors of Symmetry Medical, Inc. (the “Board”) has acknowledged
Xx. Xxxx’x importance to the Company;
WHEREAS,
the Board desires to reward Xx. Xxxx for his prior service and incent him to
remain with the Company;
WHEREAS,
the Board has authorized the payment of a Bonus to Xx. Xxxx in an amount of
$100,000 under the terms of this Agreement.
NOW
THEREFORE, the Parties agree as follows:
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1.
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The
Bonus. Symmetry shall pay to Xx. Xxxx an amount of
$100,000 (the “Bonus”), less applicable taxed and other withholdings
authorized by law or Xx. Xxxx within ten (10) days of the date of this
Agreement.
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2.
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Repayment
Obligations. Xx. Xxxx shall repay the Bonus to Symmetry
within thirty (30) days following any termination of his employment prior
to January 17, 2012:
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a.
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by
him without Good Reason (and not due to death or Disability) as that term
is defined in the Severance Agreement (the “Agreement”) into which he
entered with Symmetry on May 4, 2010;
or
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b.
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by
Symmetry for Cause as that term is defined in the
Agreement.
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Intending
to be bound, the parties affix their signatures below.
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Xx.
Xxxx Xxxx:
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s/ Xxxx Xxxx
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January 11, 2011
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Signature
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Date
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Symmetry
Medical, Inc.:
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s/ Xxxxx X. Xxxxx
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January 11, 2011
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Xxxxx
X. Xxxxx, SVP of HR,
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Date
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General
Counsel & Corporate Secretary
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