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Exhibit 10.28
September 21, 2004
Mr. Jeffrey Nugent
14419 Ballantyne Meadows Drive
Charlotte, NC 28277
Dear Jeff:
This communication confirms our
offer of employment to you as Vice President of Human
Resources . Your start date would be September 27,
2004.
The following are the terms of the
offer:
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(1)
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You will report to me.
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(2)
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Your annual base salary will be $200,000 paid
$7,692.30 biweekly.
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(3)
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In addition to your base salary, you will be
eligible for the CHAMPION ENTERPRISES 2004 Incentive Plan.
For example only, had you worked all of 2004, the
bonus amount, calculated at target EBIT , would be $100,000.
Of course, your bonus would be prorated for time actually worked in
2004.
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Your position will be a 16(b)
Executive Management position. Additional information regarding
your 16(b) status will be provided.
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(4)
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You will be granted the right to receive up to
20,000 shares of Champion common stock in connection with the
Champion 2004 performance share award program and you will be
eligible to participate in the 2005 performance share award
program.
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(5)
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You will be eligible for CHAMPION’S
Medical/Dental Insurance Program effective on the first day of the
month following three (3) months of employment. You will be
responsible for the employee co-payment of premium that is
currently $35.00 biweekly for single coverage and $72.00 biweekly
for family coverage. In the interim, Champion will pay your
documented COBRA costs for up to three months.
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2/21/2006
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