exhibit10_53.htm


    Exhibit 10.53


      Summary
of Compensation Arrangements for

      Robert
S. Driessnack, Chief Financial Officer

      


      


      Appointment
of Chief Financial Officer.  On December 18, 2008, our board
appointed Robert J. Driessnack to become Chief Financial Officer of Intermec,
Inc.  He commenced employment on January 19, 2009.

      


      Compensation
Arrangements for Chief Financial Officer. On December 18, 2008,
the Compensation Committee of the Board of Directors approved the following
compensation arrangements for Mr. Driessnack:

      


      
        	
                ·  

              	
                An
      annual base salary of $300,000

              


      

      
        	
                ·  

              	
                A
      cash signing and relocation bonus of $80,000,
  and

              


      

      
        	
                ·  

              	
                Eligibility
      for participation in the annual cash Management Incentive Compensation
      Plan (“MICP”), beginning in 2009.  The potential MICP payout to
      Mr. Driessnack at target performance will be 60% of his base salary paid
      during the period covered.

              


      

      


      Effective
February 7, 2009, the salaries of all of our Section 16 officers, including Mr.
Driessnack, were reduced by 10%.  These reductions are intended to be
temporary but are expected to remain in effect throughout 2009.

      


      Mr.
Driessnack also will be granted the following equity compensation:

      


      
        	
                ·  

              	
                80,000
      non-qualified stock options, with an exercise price equal to the fair
      market value of our common stock on the date of grant, vesting ratably
      over four years and expiring in 10 years.  These options were
      granted at the meeting of the Compensation Committee of our Board of
      Directors on February 17, 2009.

              


      

      


      
        	
                ·  

              	
                26,666
      “Performance Share Units” (“PSUs”) under our long-term incentive
      opportunity program (the “PSU Program”), for a performance cycle beginning
      in 2009. Under the PSU Program, Mr. Driessnack will be entitled to receive
      the same number of shares of our common stock upon target-level
      achievement of performance goals assigned by the Compensation Committee
      for that performance cycle.  The PSUs will be granted by the
      Compensation Committee when a performance cycle is established in 2009 for
      all eligible management.

              


      

      


      In
addition, Mr. Driessnack is eligible to participate in our Change of Control
Severance Plan.  Mr. Driessnack is required to enter into our standard
agreements regarding non-disclosure, inventions and conflicts of
interest.

      


      Mr.
Driessnack is eligible to receive full relocation benefits in accordance with
our standard program. In addition, we will reimburse

      


      
        	
                Ÿ  

              	
                Certain
      costs associated transporting and storing normal household
      goods,

              


      

      
        	
                Ÿ  

              	
                Broker’s
      commissions and closing costs on the sale of his current residence,
      and

              


      

      
        	
                Ÿ  

              	
                Loan
      fees and closing costs for the purchase of a new
  residence.

              


      

      


      We also
will reimburse Mr. Driessnack for additional federal income tax liability
incurred if certain moving expenses are included in his earned income, subject
to limitations based on actual salary and other deductions.

      


      Under our
Company relocation program, Mr. Driessnack must reimburse us for a pro rata
portion of relocation costs incurred by the Company if he terminates his
employment within one year from his start
date.