Delaware | 23-3058564 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Information to be included in the report
Under the EH Europe Employment Agreement, Mr. Kubis' base salary is 545,500 Swiss Francs ("CHF") ($449,966, based on an exchange rate at July 1, 2007, of CHF 1 equals $0.8256). In addition, Mr. Kubis is entitled to a bonus of up to 60% of his base salary under the EnerSys Management Incentive Plan and is eligible to participate in the EnerSys 2006 Equity Incentive Plan and any successor plan thereto. EH Europe will reimburse Mr. Kubis for private sc hool tuition for his child, family travel expenses to and from the United States, automobile expenses and tax preparation and planning fees. Mr. Kubis will also receive a cost of living allowance at the rate of 16% of base salary, adjusted annually, and a monthly housing allowance of CHF 5,880 ($4,855, based on an exchange rate at July 1, 2007, of CHF 1 equals $0.8256). Mr. Kubis may participate in the Company's 401(k) Plan and is eligible for the 5% annual company match, capped at the applicable Internal Revenue Service limit. EH Europe will reimburse Mr. Kubis for reasonable relocation expenses to Switzerland from Brussels and will indemnify him for taxes in excess of 30% of his total compensation, up to a total compensation of CHF 915,000 ($755,424 based on an exchange rate at July 1, 2007, of CHF 1 equals $0.8256).
The EH Europe Employment Agreement is not for a specific term but provides that either party can terminate the agreement upon the statutory notice requirement applicable to employers in Switzerland. The EH Europe Agreement provides generally that Mr. Kubis may not compete with our business for 2 years following termination of employment. If Mr. Kubis is terminated without Cause or resigns for Good Reason (each as defined in the EH Europe Employment Agreement), then he will be entitled to his base salary, average bonus and welfare benefits for up to 2 years, and he will be reimbursed for expenses to relocate to the United States.
EnerSys | ||||||||
Date: July 06, 2007 | By: | /s/ Frank M. Macerato | ||||||
Frank M. Macerato | ||||||||
Vice President & General Counsel | ||||||||
Exhibit No. | Description | |
EX-1.1 | Underwriting Agreement, dated June 29, 2007, between EnerSys, Jefferies & Company, Inc., and certain selling stockholders named thereon. |