Exhibit 10
[Letterhead of Mettler-Toledo International Inc.]
PERSONAL/CONFIDENTIAL
Mr. Dennis W. Braun
Alte Seefeldstrasse 72A
8616 Riedikon
Date June 12, 2002
Reference PB/vg
Direct Dial +41 1 944 22 85
Telecopier +41 1 944 22 55
EMPLOYMENT AGREEMENT
between METTLER-TOLEDO INTERNATIONAL INC.,
and MR. DENNIS W. BRAUN, born on June 14, 1964, citizen of
the USA.
The parties have entered into an employment agreement on the
terms and conditions set forth below:
Function Chief Financial Officer (CFO) and member of
the Group Management Committee (GMC) of the
METTLER TOLEDO Group.
Employing Company/ Mettler-Toledo International Inc.,
Position Location Greifensee Branch, CH-8606 Greifensee,
Switzerland. If not otherwise stipulated in
this agreement, the Human Resources Policy
and the General Rules of Employment including
Benefit Plans of METTLER TOLEDO's Swiss
operations as actually valid and as may be
amended from time to time apply.
Remuneration BASE SALARY of CHF 360'000.-- gross per
annum, payable in twelve equal monthly
installments of CHF 30'000.--.
Participation in the INCENTIVE PLAN POBS PLUS
for Members of the Group Management of
METTLER TOLEDO.
The BONUS is based and calculated on the
grade of target achievement at the end of the
business year as follows:
. 4.50% of base salary for the range of
90 - 110 target points;
. 3.75% of base salary for the range of
111 - 130 target points.
For business year 2002, the bonus will be
pro-rated.
Expenses Expense Allowance according to the
"Spesenreglements- erganzung Gruppenleitung"
of CHF 10'500.-- per annum, payable in twelve
monthly installments of CHF 875.--. No
commuting allowance will be paid.
Housing Allowance METTLER TOLEDO pays a Housing Allowance of
CHF 48'000.-- gross per annum, payable in
twelve monthly installments of CHF 4'000.--,
as a contribution towards the cost of
housing in Switzerland.
Schooling Costs for METTLER TOLEDO pays the schooling fees for
Children Dennis W. Braun's children in the
International School, Zumikon, Switzerland.
Stock Options Participation in the METTLER TOLEDO
Stock Option Plan as actually valid and as
may be amended from time to time. Dennis W.
Braun has been granted 75'000 stock options
upon joining METTLER TOLEDO.
Personnel Insurance Participation in the Mettler-Toledo Fonds
(pension plan for the Swiss based members of
the GMC).
Additional Accident Insurance, Disability
Insurance (coverage of salary in case of illness
and accident).
The premiums of these insurances are fully
covered by METTLER TOLEDO.
Dennis W. Braun, his spouse and children
participate in the US Health Insurance Plan
of Mettler-Toledo, Inc., Columbus, OH, as
actually valid and as may be amended from
time to time.
Holidays/Home Leave 30 working days per calendar year, incl.
compensation for overtime.
METTLER TOLEDO provides economy return air
tickets to the United States for Dennis W.
Braun, his spouse and children one time per
year.
Relocation Expenses Travel expenses for Dennis W. Braun, his spouse
and children and adequate removal costs for the
household shall be paid by METTLER TOLEDO.
In addition, a single lump sum of CHF
20'000.-- ("curtain money") shall be paid to
cover specific expenses in connection with
the establishment of a household in
Switzerland.
METTLER TOLEDO will also assist and bear the
expenses within reasonable limits to find
housing in Switzerland. METTLER TOLEDO will
cover the actual expenses in connection with
the sale of Dennis W. Braun's home in the US
up to a max. amount of USD 30'000.--.
Sign-on Bonus METTLER TOLEDO has paid Dennis W. Braun a one
time sign-on bonus of USD 75'000.-- gross upon
joining, to compensate for the loss of incentive
and to offset a loan with his previous employer.
This bonus becomes partially refundable if
Dennis W. Braun leaves METTLER TOLEDO earlier
than three years after the starting date
(USD 50'000.-- after year one, USD 25'000.--
after year two).
Non-Competition While Dennis W. Braun is employed by METTLER
TOLEDO, and for a period of twelve months after
the termination of his employment, Dennis W.
Braun shall not knowingly engage in or be
employed in any business anywhere in the world
which competes with the principal businesses
of METTLER TOLEDO.
Taxes All taxes levied by the residence and/or home
country will be fully paid by Dennis W. Braun.
Duration/Notice Period This employment agreement started on March 11,
2002. It is of unlimited duration; for
termination, a notice period of twelve months
for both parties applies.
Change of Control/ In the case of a change of control transaction
Successors and a termination without cause of the employment
agreement by the successors within two years from
starting date, Dennis W. Braun is entitled to
an additional one time lump sum payment in the
amount of one yearly target salary (base salary
plus bonus at 100% target achievement level).
Applicable Law and This agreement shall be governed by Swiss Law.
Jurisdiction All disputes concerning the terms and conditions
of this agreement shall be brought before the
ordinary courts in the Canton of Zurich,
Switzerland.
Mettler-Toledo International Inc. The Employee
Robert F. Spoerry Peter Burker
Chief Executive Officer Head Human Resources Dennis W. Braun