EXHIBIT 10.36
December 21, 2007
Mr. D. Larrie Rose
Hardt 40
47877 Willich
Germany
Re:
Separation Agreement — Retirement
Dear
Larrie:
As we discussed, your employment with
Belden Inc. (the “Company”) and all subsidiaries will
terminate effective with your retirement on the close of business,
February 29, 2008 (the “Separation Date”). This
letter confirms all of your entitlements arising out of your
employment with and separation from the Company. You will
receive:
| |
|
|
|
|
|
1.
|
|
Actual bonus for 2007 to be
determined at the February 2008 Compensation Committee meeting
(estimated at $238,056), and to be paid to you no later than
March 14, 2008. |
|
T-B-D |
|
|
|
|
|
|
|
2.
|
|
Actual cash long-term incentive
payout (for the 2004-2007 performance period estimated at
$209,000). Amount to be determined by the Compensation Committee
when the information used to determine the amount becomes available
(which should be no later than its May 21, 2008 meeting), with
this payment to be made to you on September 3, 2008. |
|
T-B-D |
|
|
|
|
|
|
|
3.
|
|
As of February 29, 2008,
accelerated vesting in accordance with the applicable award
agreement of the following equity awards: |
|
|
| |
|
|
|
|
|
Grant Date |
|
Award |
|
Grant Price |
|
February 22,
2006
|
|
2,133 SARS* |
|
$25.8050 |
|
February 21,
2007
|
|
4,266 SARS* |
|
$47.705 |
|
March 30,
2005
|
|
7,666 stock options* |
|
$22.665 |
|
February 22,
2006
|
|
3,400 RSUs |
|
|
|
February 21,
2007
|
|
2,100 RSUs |
|
|
|
|
|
| * |
|
Note the expiration date on your SARS and stock options will be
February 28, 2011 (three years after your retirement date of
February 29, 2008). |
| |
|
|
|
|
|
4.
|
|
Under COBRA, you may elect at your
expense to continue your Belden Dental Plan coverage in effect on
February 29, 2008, for a period up to eighteen
(18) months. |
|
|
Mr. D. Larrie Rose
December 21, 2007
Page 2
| |
|
|
|
|
|
5.
|
|
As additional consideration, we will
(i) pay you $12,000 for continuance of private health
insurance, (ii) pay you $28,000 to obtain financial and tax
advice in connection with your retirement and (iii) turn over
your Company computer to you provided that our IT department
confirms that all Company software and Company proprietary
information have been deleted. These payments/transfer of Company
computer will take place no later than March 31, 2008. We also
grant to you the right to purchase your Company car at the value
established by the leasing company at the end of the lease term
(February 2008). |
|
|
On February 29, 2008 (your
retirement d
|
