EXHIBIT 10.10
DRESSER-RAND DRESSER-RAND S.A.
31, Bld Winston Churchill 76080 Le Havre cedex 7013 France
Telephone 35.25.81.25 Telex 190004 Fax 35.25.19.48
Mr. Jean-Francois Chevrier
Impasse des Silex Tailles
78270 BONNIERES
Le Havre, July 25, 1990
Sir,
We hereby confirm our proposal for an employment contract of unlimited duration
under the terms specified in the following.
Hiring date: THURSDAY NOVEMBER 1, 1990 or earlier, date to be confirmed by you.
Position: Manager in charge of the Le Havre operation
You will report directly to the Chairman-CEO of DRESSER-RAND S.A.
Hierarchical index: Manager - Position III C - 240
Place of work: Le Havre operation
Your salary will be FF 480,000 per year, payable in 12 monthly installments. The
minimal wages guaranteed by the National Collective Bargaining Agreement of the
Engineers and Managers in the Metal Industry ("Convention Collective Nationale
des Ingenieurs et Cadres de la Metallurgie") amount to FF 299,702 per year
(corresponding to a monthly work schedule of 166.83 hours).
Given the role assigned to you, your presence cannot be determined in a rigid
manner and will relate to the needs of your job. Your salary takes these time
constraints into account.
Your salary will be reviewed after three months from the beginning of your
contract and should be increased to FF 500,000 per year. Supposing that you
start your employment on November 1, 1990, your new base salary will be
effective on February 1, 1991.
Starting October 1, 1990 (i.e., the first day of our fiscal year 1991) you will
be eligible to participate in DRESSER-RAND's bonus plan, which is based on the
Company's financial results. If all the goals are reached, this plan provides
for a bonus of 15% of your yearly base salary. The maximum bonus attributable
under this plan is 20% of the yearly base salary. Since you did not take part to
the elaboration of the 1991 operational plan, you will receive a bonus of no
less than 10% of your base salary for the fiscal year 1991.
You will be entitled to a company car in conformity with the procedure attached
hereto.
Page 2 - Contract of Mr. Chevrier
Your employment contract will be subject to the rules of the National Bargaining
Agreement of the Engineers and Managers in the Metal Industry as well as the
internal regulations of the company.
A trial period of three months will start on the date when you take office and
can possibly be extended for the same duration.
The validity of this contract is subject to the results of your medical
examination, to be made on the first day when you take office, being positive.
We acknowledge that the studies of your daughter make your relocation in the
region of Le Havre impossible before the end of the school year 1990/1991, i.e.
in June 1991. At this time, the Company will help you with the relocation in
accordance with the procedure attached hereto.
In addition, the Company will help you pay the rental costs incurred in
connection with your temporary installation in an apartment near Le Havre until
you relocate and rent/buy a new residence. Such help will be granted until July
31, 1991 at the latest. The details will need to be discussed with J.C. MATTON,
the Financial Manager for Europe, who is based in our plant in Le Havre.
Please declare your agreement with the above by returning a copy of this letter
with the handwritten mention "read and approved" followed by the date and your
signature.
Yours truly,
R.E. TRON JAMES F. CAMPBELL
CHAIRMAN-CEO MANAGER, HUMAN RESOURCES-EUROPE
DRESSER-RAND S.A.
P.J. (7)
(GSC LOGO)
Regime GSC
Social Guaranty for the
Business Managers
COMPANY DRESSER RAND SA
M. LANGREE DIDIER
31 BLD WINSTON CHURCHILL
76600 LE HAVRE
CERTIFICATE OF AFFILIATION
Reference No.
(to be used in any communications)
200029 /56206026900023
The above-mentioned company has been affiliated to the Regime of Social
Guaranty for the Business Managers commencing March 1, 1998 in favor of:
Base regime Complementary regime
----------------------------- ----------------------------------- ----------------------------------
Suppl. Suppl
AFFILIATED Effective Date Class Duration Effective Class Duration
(months) Date (months)
----------------------------- --------------- -------- ---------- -------------- -------- ----------
JEAN FRANCOIS CHEVRIER 01/01/2003 6 6 01/01/2003 H 6
first affiliation 03/01/1998 03/01/1998
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Cancels and replaces the preceding certificate made as of August 24, 1998
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Made in Paris on June 18, 2003
For the insurers of the REGIME GSC
GROUPAMA-CCAMA
[Signature]