EMPLOYMENT AND NON-INTERFERENCE AGREEMENTEmployment and Non-Interference Agreement • May 15th, 2009 • Sensus Metering Systems Bermuda 2 LTD • Totalizing fluid meters & counting devices • Delaware
This Employment and Non-Interference Agreement, dated as of July 1, 2008 (the “Agreement”), is by and between William T. Yeates (the “Executive”) and Sensus Metering Systems Inc., a Delaware corporation (the “Company”), which is a wholly-owned subsidiary of Sensus Metering Systems (Bermuda 2) Ltd., a company organized under the laws of Bermuda (“Bermuda 2”), which is a wholly-owned subsidiary of Sensus Metering Systems (Bermuda 1) Ltd., a company organized under the laws of Bermuda (“Holdings”).
CONSULTING AGREEMENTConsulting Agreement • May 15th, 2009 • Sensus Metering Systems Bermuda 2 LTD • Totalizing fluid meters & counting devices • Delaware
This Consulting Agreement, effective as of May 30, 2008 (this “Agreement”), is between Al Giammarino (“Consultant”) and Sensus Metering Systems Inc., a Delaware corporation (the “Company”).
Terminations within 12 months of accepting new assignmentPayback Agreement • May 15th, 2009 • Sensus Metering Systems Bermuda 2 LTD • Totalizing fluid meters & counting devices
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.
Termination within 24 months of accepting new assignmentSensus Metering Systems Bermuda 2 LTD • May 15th, 2009 • Totalizing fluid meters & counting devices
If I voluntarily terminate employment or I am involuntarily terminated within the first two years after the transfer date (defined as the commencement of salary at the destination location), I will repay all relocation benefits previously paid by the Company, according to the following graduated scale.
