Document:

exhibit10_2.htm

    Exhibit
10.2

    

    Intermec,
Inc.

    2008
Long-Term Performance Share Program

     

    Agreement
for the Award Period

    January 1,  2009
through December 31, 2011

     

     

    This
Performance Share Unit Agreement (the “Agreement”) is made as of
%%OPTION_DATE%-%, between Intermec, Inc., a Delaware corporation (the “Company”), and
%%FIRST_NAME%-% %%MIDDLE_NAME%-% %%LAST_NAME%-% (the “Participant”).

     

    WHEREAS, the Intermec, Inc.
2008 Omnibus Incentive Plan (the “Plan”) was adopted by the
Board of Directors of the Company on March 19, 2008, and was approved by the
stockholders of the Company on May 23, 2008; and

     

    WHEREAS, the Committee has
adopted the 2008 Long-Term Performance Share Program, as amended (the “Program”), as a sub-plan of
the Plan and authorized the Award represented by this Agreement;

     

    NOW, THEREFORE, in
consideration of the premises, the mutual covenants hereinafter set forth, and
other good and valuable consideration, the Company and the Participant hereby
agree as follows:

     

    Article
1.  Award

     

    The
Participant is hereby awarded, as a matter of separate inducement and agreement,
and not in lieu of salary or other compensation for services,
%%TOTAL_SHARES_GRANTED,’999,999,999’%-% Performance Share Units (the “Target Award”), on the terms
and conditions hereinafter set forth.  The number of Performance Share
Units (“PSUs”) that the
Participant may earn under this Agreement shall range from 0% to 200% of the
Target Award (the “Earned
PSUs”), as determined by the achievement of the performance measures set
forth in Article 3 of this Agreement.  The Earned PSUs shall be paid
in shares of the common stock, par value $.01 per share, of the Company (the
“Common Stock”) as set
forth in Article 6 of this Agreement.  The Participant shall have no
obligation to pay the Company additional consideration for the Earned
PSUs.

     

    The Plan
and the Program, copies of which have been made available to the Participant,
are incorporated herein by reference and made part of this Agreement as if fully
set forth herein. Capitalized terms used in this Agreement that are not defined
herein shall have the meanings assigned to such terms in the Plan and the
Program. This Agreement is subject to, and the Company and the Participant agree
to be bound by, all of the terms and conditions of the Plan and the Program as
the same exist at the time this Agreement became effective. The Plan and the
Program shall control in the event there is any express conflict between the
terms hereof and the Plan or the Program and with respect to such matters as are
not expressly covered in this Agreement. The Company hereby reserves the right
to alter, amend, modify, restate, suspend or terminate the Plan, the Program and
this Agreement in accordance with Section 16.1 of the Plan, but no such
subsequent amendment, modification, restatement, or termination of the Plan, the
Program or this Agreement shall adversely affect in any material way the
Participant’s rights under this Agreement without the Participant’s written
consent.  This Agreement shall be subject, without further action by
the Company or the Participant, to such amendment, modification, or
restatement.

     

    Article
2.  Measurement Period, Performance Period and Award
Period

    

    For all
purposes of this Agreement, “Measurement Period” means
January 1, 2010 through December 31, 2010, “Performance Period” means
January 1, 2009 through December 31, 2010, and “Award Period” means January
1, 2009 through December 31, 2011.

     

    Article
3.  Achievement of Performance Measures

    The
number of Earned PSUs to be earned under this Agreement shall be based upon the
achievement of the following Performance Measures set by the
Committee:

     

    [PERFORMANCE
MEASURES]

    

    The
number of Earned PSUs earned for achievement above threshold levels but between
the levels shown above will be calculated using interpolation.

    

    In
evaluating the achievement of each measure as of the end of the Measurement
Period, the Committee will adjust the calculation of the Attainment Level to
exclude restructuring or reorganization costs (as defined in accordance
with U.S. GAAP) incurred in any fiscal year in the Measurement Period to
the extent that related savings from the program will occur in a future fiscal
year, and will include these costs in the future measurement period in which,
and to the extent that, cost savings are anticipated during such Measurement
Period.

    

    At the
end of the Measurement Period, the number of Earned PSUs shall be determined but
shall be subject to a forfeiture restriction until December 31, 2011, subject to
the terms of this Agreement.  During such time as the Earned PSUs
remain subject to the forfeiture restriction, they are referred to in this
Agreement as Restricted Stock Units (“RSUs”).

    

    Article
4. Termination/Forfeiture Provisions

    

    Except as
otherwise provided below in this Article 4, a Participant shall be eligible for
payment of Earned PSUs, as determined in Article 3, only if the Participant’s
employment with the Company or a Related Company continues through the end of
the Award Period.

     

    In the
event of a Participant’s termination of employment as a result of death or
disability prior to the end of the Award Period,  the former employee
(or beneficiary)  will be entitled to receive a payout of Earned PSUs
on the same basis as other Participants, provided that (1) such amount shall
be  prorated for the number of full months worked during the Award
Period as a percentage of the total number of full months in the Award Period
and (2) .payout shall be made within 2-1/2 months after the later of the
termination or the certification by the Compensation Committee of payouts for
the Award Period, notwithstanding the requirement applicable generally that no
payout is due unless the Participant  remains employed until the end
of the Award Period.

     

    The
effect of a Change of Control on PSUs and RSUs shall be governed by the terms of
the Company's change of control policy applicable to the Participant (either the
Executive Change of Control Policy for the Plan or the Standard Change of
Control Policy for the Plan, effective January 7, 2009).

     

    Article
5. Rights as a Stockholder

    

    During
the Award Period, the Participant shall have no rights of a stockholder with
respect to the PSUs, RSUs or the Earned PSUs.  Notwithstanding the
foregoing, the Participant shall be entitled to receive any dividend equivalents
declared by the Board, as provided in the Program.

     

    Article
6. Form and Timing of Payment

    

    Except as
set forth in Article 4 or in the Program, payment of Earned PSUs shall be made
in the form of shares of Common Stock within 21⁄2 months following the close of
the Award Period.  The Company shall direct its transfer agent to
issue to the Participant, in uncertificated form, the number of unrestricted
shares of Common Stock that are payable to the Participant under the
Agreement.

     

    Article
7. Nontransferability

     

    PSUs and
RSUs may not be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, other than by will or by the laws of descent and
distribution.  The Participant’s rights under this Agreement shall be
exercisable during the Participant’s lifetime only by the Participant or the
Participant’s legal representative.

    

    Article
8. Administration

     

    It is
expressly understood that the Committee is authorized to administer, construe,
and make all determinations necessary or appropriate to the administration of
the Plan, the Program and this Agreement, all of which shall be binding upon the
Participant.

     

    Article
9.  Withholding Taxes

     

    No later
than the date as of which an amount first becomes includable in the gross income
of the Participant for federal income tax purposes with respect to any Earned
PSUs, the Participant shall pay to the Company, or make arrangements
satisfactory to the Company regarding the payment of, any federal, state, local,
or foreign taxes of any kind required by law to be withheld by the Company with
respect to such amount. Unless otherwise determined by the Committee,
withholding obligations (up to the minimum statutory amount required to be
withheld by the Company) may be settled with shares of Common Stock, including
the Earned PSUs that give rise to the withholding requirement or shares of
Common Stock already owned by the Participant. The obligations of the Company
under the Plan shall be conditional on such payment or arrangements, and the
Company and its Related Companies shall, to the extent permitted by law, have
the right to deduct any such taxes from any payment otherwise due to the
Participant. Participant, therefore, hereby unconditionally and irrevocably
elects, notwithstanding anything to the contrary in this Article 9 or elsewhere
in this Agreement, to satisfy any and all federal, state, local, and foreign
taxes of any kind that may be withheld by the Company in connection with
Participant’s Earned PSUs (the “Withholding Taxes”) by
electing one of the following options; provided that in all cases,
the Company shall have the right to receive not less than the minimum amount of
the Withholding Taxes that the Company is required by law to withhold (the “Mandatory Withholding
Taxes”); and further
provided that an amount equal to the Mandatory Withholding Taxes in
respect of any cash payment to Participant shall be withheld from any such cash
payment:

     

    OPTION
1:

     

    
      	
               
      

            	
               ̈

            	
              Authorizing
      and directing the Company to deduct from the total number of shares of
      Common Stock issuable and deliverable to Participant pursuant to this
      Agreement the number of shares having a value equal to the Mandatory
      Withholding Taxes.

            

    

     

    OPTION
2:

     

    
      	
               
      

            	
               ̈

            	
              Paying
      to the Company in cash an amount up to the Withholding Taxes but not less
      than the Mandatory Withholding
Taxes.

            

    

     

    OPTION
3:

     

    
      	
               
      

            	
               ̈

            	
              Tendering
      to the Company the number of unrestricted shares of Common Stock owned by
      the Participant prior to the date on which Withholding Taxes are due and
      having a value equal to the Mandatory Withholding
  Taxes.

            

    

     

    In the event that none of the payment
options set forth above is specified, the Participant’s election shall be deemed
to be Option 1, and the Company shall proceed accordingly.  The
Company may refuse to deliver the shares of Common Stock if the Participant
fails to comply with his or her obligations in connection with the Withholding
Taxes as described in this Article 9.

     

    Regardless
of any action the Company takes with respect to any or all Withholding Taxes,
the Participant acknowledges that the ultimate liability for all Withholding
Taxes legally due by the Participant is and remains the Participant’s
responsibility and that the Company (i) make no representations or
undertakings regarding the treatment of any Withholding Taxes in connection with
any aspects of the PSUs or RSUs, including the grant or vesting of the PSUs or
RSUs, the subsequent sale of shares of Common Stock received upon vesting of the
PSUs or RSUs, if any, and the receipt of any dividends or dividend equivalents;
and (ii) do not commit to structure the terms of the Award of any aspect of the
Award to reduce or eliminate the Participant’s liability for Withholding
Taxes.

    

    Article
10. Miscellaneous

     

    A.         The
Participant understands and acknowledges that the Participant is one of a
limited number of employees of the Company and its Related Companies who have
been selected to receive grants of PSUs and that the Participant’s Award is
considered Company confidential information. The Participant hereby covenants
and agrees not to disclose the Award of PSUs pursuant to this Agreement to any
other person except (i) the Participant’s immediate family and legal or
financial advisors who agree to maintain the confidentiality of this Agreement,
(ii) as required in connection with the administration of this Agreement and the
Plan as it relates to this Award or under applicable law, and (iii) to the
extent the terms of this Award have been publicly disclosed.

     

    B.         The
grant of PSUs to the Participant in any year shall give the Participant neither
any right to similar grants in future years nor any right to be retained in the
employ of the Company or its Related Companies, such employment being terminable
to the same extent as if the Program and this Agreement were not in effect. The
right and power of the Company and its Related Companies to dismiss or discharge
the Participant is specifically and unqualifiedly unimpaired by this
Agreement.

     

    C.         Each
notice relating to this Agreement shall be in writing and delivered in person or
by mail to the Company at its office, 6001 36th Avenue West, Everett, WA
98203-1264, to the attention of the Company’s Secretary or at such other address
as the Company may specify in writing to the Participant by a notice delivered
in accordance with this paragraph. All notices to the Participant shall be
delivered to the Participant at the Participant’s address specified below or at
such other address as the Participant may specify in writing to the Secretary of
the Company by a notice delivered in accordance with this
paragraph.

     

    D.         This
Agreement, including the provisions of the Plan and the Program incorporated by
reference herein, comprises the whole Agreement between the parties hereto with
respect to the subject matter hereof, and shall be governed by and construed in
accordance with the laws of the State of Washington, U.S.A., without reference
to principles of conflicts of law.  This Agreement shall become
effective when it has been executed or accepted electronically by the Company
and the Participant.  For purposes of litigating any dispute that
arises directly or indirectly from the relationship of the parties evidenced by
this grant of the Agreement, the parties hereby submit to and consent to the
exclusive jurisdiction of the State of Washington, U.S.A., and agree that such
litigation shall be conducted only in the courts of Washington, U.S.A., or the
federal courts for the United States for the Western District of Washington, and
no other courts where this grant is made and/or to be performed.

     

    E.         This
Agreement shall inure to the benefit of and be binding upon each successor of
the Company and, to the extent specifically provided herein and in the Plan and
the Program, shall inure to the benefit of and shall be binding upon the
Participant’s heirs, legal representatives, and successors.

     

    F.         If
any provision of this Agreement shall be invalid or unenforceable, such
invalidity or unenforceability shall not affect the validity and enforceability
of the remaining provisions of this Agreement.

     

    G.         This
Agreement may be executed in separate counterparts, each of which when so
executed and delivered will be an original, but all of which together will
constitute one and the same instrument. In pleading or proving this Agreement,
it will not be necessary to produce or account for more than one such
counterpart.

     

    H.         The
Company may, in its sole discretion, decide to deliver any documents related to
the PSUs granted under, and participation in, the Program or future PSUs that
may be granted under the Program by electronic means or to request the
Participant’s consent to participate in the Program by electronic
means.  The Participant hereby consents to receive such documents by
electronic delivery and, if requested, to agree to participate in the Program
through an on-line or electronic system established and maintained by the
Company or another third party designated by the Company.

     

    I.           Payments
made pursuant to this Agreement are intended to qualify for an exemption from
Section 409A of the Code.  Notwithstanding any other provision in this
Agreement and the Plan, the Company, to the extent it deems necessary or
advisable in its sole discretion, reserves the right, but shall not be required,
to unilaterally amend or modify this Agreement, the Program  or the
Plan so that the Award granted hereunder to the Participant qualifies for
exemption from or complies with Section 409A; provided, however, that the
Company makes no representations that the Agreement or the Award shall be exempt
from or comply with Section 409A and makes no undertaking to preclude Section
409A from applying to the Award.  The Participant, by executing this
Agreement, shall be deemed to have waived any claim against the Company and its
affiliates with respect to any such tax, economic and legal
consequences.  Also notwithstanding the foregoing, if at the time of a
scheduled vesting or payout date under the Agreement, the Participant is a
“specified employee” of the Company within the meaning of that term under
Section 409A and as determined by the Company, and payment would be treated as a
payment made on “separation from service” within the meaning of that term under
Section 409A, then, if such delayed commencement is otherwise required in order
to avoid a prohibited distribution under Section 409A, the payment shall be
delayed until the date which is six months after the date of such separation
from service or if earlier the date of the Participant's death.

    

     

    IN WITNESS WHEREOF, this
Agreement is executed by the Participant and by the Company through its duly
authorized officer as of the day and year first above written.

     

    INTERMEC,
INC.

    

    By:    /s/ Patrick J.
Byrne             

      Patrick J.
Byrne

    

    

    PARTICIPANT

    (One
of the boxes under Article 9 must be checked)

    

    IMPORTANT

    PLEASE
ACCEPT ELECTRONICALLY OR

    SIGN
AND RETURN PROMPTLY 

     

                                
      
      
        

      

    

    %%FIRST_NAME%-%

    %%MIDDLE_NAME%-%

    %%LAST_NAME%-%exhibit10_3.htm

    Exhibit 10.3

    

    Corporate Executive
Severance Plan

    For

    Chief
Executive Officer and Elected Officers of Intermec, Inc. and

     Certain
Other Designated and Section 16 Officers

    

    1.  Introduction.  This
Corporate Executive Severance Plan is effective as of March 23, 2009 and applies to
the Chief Executive Officer and Elected Vice Presidents of Intermec, Inc.,
persons who have been identified by the Board of Directors of the Company or the
Compensation Committee as officers for purposes of Section 16(a) of the Exchange
Act, and other key management personnel of Intermec, Inc. or its subsidiaries or
affiliates as selected, in writing by the Chief Executive Officer, in his sole
discretion.  Capitalized terms have the meanings set forth in
paragraph 10.   This Severance Plan replaces and supersedes any
prior Executive Severance Plan applicable to the same individuals, provided that
this policy does not affect the Intermec, Inc. Change of Control Severance Plan,
effective January 7, 2009.

    

    2.  Obligations of the Company
on Termination.

    

    (a) Termination in connection
with a Change of Control.   If the Company terminates the
Executive’s employment in connection with a Change of Control but not for Cause,
death or Disability, the Company will

    

    
      	
              (i)

            	
              Pay
      to the Executive the sum of:

            

    

    

    
      	
               
      

            	
              (x)
      the Executive’s Annual Base Salary through the date of Termination, to the
      extent not theretofore paid, and

            

    

    

    
      	
               
      

            	
              (y)
      the product of (1) the Applicable Target Bonus, and (2) a fraction, the
      numerator of which is the number of days in the Company’s current fiscal
      year through the Date of Termination, and the denominator of which is 365,
      to the extent not theretofore
  paid,  and

            

    

    

    
      	
               
      

            	
              (z)
      the product of one (1) [two (2), in the case of the Chief Executive
      Officer] and the Executive’s Annual Base Salary;
  and

            

    

    

    
      	
              (ii)

            	
              Pay
      to the Executive the product of one (1) [two (2) in the case of the Chief
      Executive Officer] and the Applicable Target Bonus;
  and

            

    

    

    
      	
              (iii)

            	
              Pay
      to, or on behalf of, the Executive, as incurred, the reasonable costs of
      outplacement services in accordance with the Company’s practice but not to
      exceed two years; and

            

    

    

    
      	
              (iv)
      

            	
              Pay
      to the Executive the product of (1) twelve and (2) the amount of the COBRA
      premium that would be applicable to the level of health coverage
      maintained by the Executive at the time of termination;
  and

            

    

    
      

      
        	
                (v)
      

              	
                Satisfy
      any obligations it may have to the Executive under the terms and
      conditions of the Plans, including without limitation, the right of
      executive to continuation of health plan coverage under IRC Section 4980B
      (COBRA).

              

      

       

      
        Any
payments under this Severance Plan are in lieu of any bonuses otherwise payable
under the Management Incentive Compensation Plan for the Company’s fiscal year
which includes the Date of Termination.

      

       

    

    (b) Termination other than for
Cause, Death or Disability.  If the Company terminates the
Executive's employment other than in connection with a Change of Control and
other than for Cause, death or Disability the Company will:

    

    
      	
              (i)

            	
              Pay
      to the Executive the sum of:

            

    

    

    
      	
               
      

            	
              (x)
      the Executive’s Annual Base Salary through the date of Termination, to the
      extent not theretofore paid, and

            

    

    

    
      	
               
      

            	
              (y)
      the product of (1) the Applicable Target Bonus, and (2) a fraction, the
      numerator of which is the number of days in the Company’s current fiscal
      year through the Date of Termination, and the denominator of which is 365,
      to the extent not theretofore
  paid,  and

            

    

    

    
      	
               
      

            	
              (z)
      the product of one (1) [two (2), in the case of the Chief Executive
      Officer] and the Executive’s Annual Base Salary;
  and

            

    

    

    
      	
              (ii)

            	
              Pay
      to, or on behalf of, the Executive, as incurred, the reasonable costs of
      outplacement services in accordance with the Company’s practice, but not
      to exceed two years; and

            

    

    

    
      	
              (iii)
      

            	
              Pay
      to the Executive the product of (1) twelve and (2) the amount of the COBRA
      premium that would be applicable to the level of health coverage
      maintained by the Executive at the time of termination;
  and

            

    

    

    
      	
              (iv)

            	
              Satisfy
      any obligations it may have to the Executive under the terms and
      conditions of the Plans, including without limitation the rights of the
      Executive to continuation of health plan coverage under IRC Section 4980B
      (COBRA).

            

    

    

    Any
payments under this Severance Plan are in lieu of any bonuses otherwise payable
under the Management Incentive Compensation Plan for the Company’s fiscal year
which includes the Date of Termination.

    

    (c)  Termination Due To
Death.  If the Executive's employment is terminated by reason
of the Executive's death, the Company will have no obligation to the Executive's
legal representatives, estate or beneficiaries, other than (i) payment of his or
her Annual Base Salary through the Date of Termination, to the extent not
theretofore paid and (ii) satisfaction of any obligations the Company may have
to the Executive’s legal representatives, estate or beneficiaries under the
terms and conditions of the Plans.

    

    (d)  Termination Due To
Disability.  If the Executive's employment is terminated by
reason of the Executive's Disability, the Company will have no obligation to the
Executive or his or her legal representatives, other than (i) payment of his or
her Annual Base Salary through the Date of Termination, to the extent not
theretofore paid, and (ii) satisfaction of any obligations the Company may have
to the Executive or the Executive’s legal representatives under the terms and
conditions of the Plans.

    

    (e)  Termination For
Cause.  If the Executive's employment will be terminated for
Cause, the Company will have no obligation to the Executive, other than (i)
payment of his or her Annual Base Salary through the Date of Termination, and
(ii) satisfaction of any obligations the Company may have to the Executive under
the terms and conditions of the Plans.

    

    3.  Conditional Cap On
Payments.

    

    (a)  Subject to paragraph
3(b), if it is determined that any payment or distribution in the nature of
Section 280G Compensation by the Company to or for the benefit of the Executive
(whether paid or payable or distributed or distributable pursuant to the terms
of this Severance Plan or otherwise (a "Payment"), would constitute an
Excess Parachute Payment
and, but for this paragraph 3, would be subject to Excise Tax, then such
Payments will be reduced to the Reduced Amount.  Unless the Executive
elects another reduction method by giving written notice thereof to the Company
prior to the Date of Termination, the Company will reduce the Payments to the
Reduced Amount by first reducing Payments that are not payable in cash and then
by reducing cash Payments.  Only amounts payable under this Severance
Plan that are Section 280G Compensation and are contingent on a Section 280G
Change of Control will be reduced pursuant to this paragraph 3(a) but only if,
by reason of such reduction, the net after-tax benefit to the Executive exceeds
the net after-tax benefit which would be received by the Executive if no such
reduction was made.  For the purposes of this paragraph 3, the term
“net after-tax benefit”
means (i) the total Payments the Executive receives or is entitled to
receive that would constitute Parachute Payments less (ii) the amount of all
federal, state and local income and employment taxes payable by the Executive
with respect to the total Payments calculated at the highest marginal income tax
rate for each year in which the Payments will be paid to the Executive (based on
the rate in effect for such year as set forth in the IRC as in effect at the
time of the first Payment), less (iii) the Excise Taxes imposed by IRC Section
4999 with respect to the Payments.

    

    (b) All determinations required to be
made under this paragraph 3 and the assumptions to be utilized in arriving at
such determination, will be made by the Accounting Firm which will provide
detailed supporting calculations both to the Company and the Executive within 15
business days of the receipt of notice from the Company that there has been a
Payment, or at such earlier time as the Company may request.  All fees
and expenses of the Accounting Firm will be borne solely by the
Company.  Subject to paragraph 3(c), the Accounting Firm’s
determination will be conclusive and binding upon the Company and the
Executive.

     

    (c)  If the IRS determines
that Executive is liable for Excise Tax as a result of receipt of a Payment,
Executive will be obligated to pay to the Company the smallest such amount, if
any, as is required to be paid to the Company so that the Executive’s net
proceeds with respect to any Payments (after taking the payment of the Excise
Tax on such Payments) is maximized (the “Repayment Amount”); provided,
however, that the Repayment Amount will be zero if a Repayment Amount greater
than zero would not eliminate the Excise Tax imposed on such
Payment.  If the Repayment Amount is greater than zero, the Executive
will pay that amount within 30 days of the date that the Executive enters into a
binding agreement with the IRS as to the amount of the Executive’s Excise Tax
liability or within 30 days of receiving a final determination by the IRS or a
court of competent jurisdiction requiring the Executive to pay the Excise Tax
with respect to a Payment from which no appeal is available or is timely
taken.  If the Excise Tax is not eliminated through the payment of the
Repayment Amount, the Executive will pay the Excise Tax.

     

    4.  Timing of Payments Due To
Executive; Taxes.

    

    (a)  Payments to be made by
the Company to the Executive or his or her legal representative, estate or
beneficiary pursuant to paragraphs 2(a)(i)-(iv) or 3(a)(i)-(iii) will be made in
accordance with Section 6 (Release Required).  All other payments to
be made by the Company (if any) to the Executive or his or her legal
representative, estate or beneficiary will be made at the time and in the manner
specified in the applicable Plan.

    

    (b)  All federal, state,
local and foreign taxes are the sole responsibility of the Executive and his or
her legal representative, estate or beneficiaries.

    

    (c)  The Company may withhold
from any amounts payable under this Severance Plan such federal, state, local or
foreign taxes as are required to be withheld pursuant to applicable laws and
regulations.

     

    5.  No Double Benefits, Offsets
or Mitigation.

    

    (a)  If, in addition to this
Executive Severance Plan, another severance plan or an agreement (including
without limitation, the Intermec, Inc. Change of Control Severance Plan)
requires the Company to make payments to the Executive as a result of the
Company’s termination of the Executive’s employment, the Executive will receive
the benefits of this Severance Plan if and only if the Executive waives in
writing all rights to the benefits of such other severance plans or
agreements.  In the absence of such a waiver, the Company shall have
the right to offset the benefits of such other severance plans or agreements
against the benefits of this Severance Plan and vice versa.

    

    (b)  Except as provided in
Section 5(a) and Section 7, the Company's obligation to make the payments or
perform the obligations specified in this Severance Plan will not be affected by
any set-off, counterclaim, recoupment, defense, or other claim, right, or action
which the Company may have against the Executive or others.

    

    (c) In no event will the Executive be
obligated to seek other employment or take any other action by way of mitigation
of the amounts payable to the Executive under any of the provisions of any Plan
and such amounts will not be reduced whether or not the Executive obtains other
employment.

    

    
      	
              6.  

            	
              Release
      Required.

            

    

     

    No
portion of the payments and benefits provided under this Severance Plan shall be
paid or provided unless, on or prior to the 60th day following the Executive's
Date of Termination, the Executive timely executes a general waiver and release
of claims agreement in the form presented by the Company to the Executive on or
prior to the seventh day following termination, and such release shall not have
been revoked by the Executive (and the applicable revocation period shall have
expired) prior to such 60th day. Upon satisfaction of the foregoing conditions,
all such payments and benefits under this Severance Plan shall be paid or
provided on the 61st day following the Executive's Date of
Termination.

    

    
      	
              7.  

            	
              Restrictive
      Covenants.

            

    

     

    (a) As of the
first date on which the Executive violates any of the covenants contained in the
Invention Agreement, Conflicts of Interest Agreement, Non-Disclosure Agreement
and Non-Compete Agreement of the Company executed by the Executive in connection
with the Executive's employment (“Restrictive Covenants”), any remaining unpaid
portion of the payments and benefits provided under Section 2 shall thereupon be
forfeited.

     

    (b) In the
event the terms of any Restrictive Covenant shall be determined by any court of
competent jurisdiction to be unenforceable by reason of its extending for too
great a period of time or over too great a geographical area or by reason of its
being too extensive in any other respect, it shall be interpreted to extend only
over the maximum period of time for which it may be enforceable, over the
maximum geographical area as to which it may be enforceable, or to the maximum
extent in all other respects as to which it may be enforceable, all as
determined by such court in such action.

     

    (c) The
Executive recognizes and acknowledges that a breach of the Restrictive Covenants
will cause irreparable damage to the Company and its goodwill, the exact amount
of which will be difficult or impossible to ascertain, and that the remedies at
law for any such breach will be inadequate.

     

    (d) Accordingly,
the Executive agrees that in the event of a breach of any of the Restrictive
Covenants, in addition to any other remedy that may be available at law or in
equity, the Company shall be entitled to specific performance and injunctive
relief.

     

    (e) In
addition, in the event that the Executive violates any of the Restrictive
Covenants, the Executive shall be required to pay to the Company in a single
lump sum an amount equal to the aggregate total of the amounts the Executive has
received pursuant to Section 2 (except of base salary through the Date of
Termination and payment of any obligations of the Company under the Plans)
within 30 days following the date of such violation.

     

    
      	
              8.  

            	
              Amendment or
      Termination of Severance
Plan.

            

    

     

    (a) Subject to paragraph 8 (b), the
Company may amend or terminate this Severance Plan at any time prior to the Date
of Termination, in which case the Executive will have no further rights under
this Severance Plan.

     

    (b)  During the one-year
period following a Change of Control, the Company and its Successors may not
amend or terminate the Plan with respect to any Executive employed by the
Company on the Change of Control Date.

     

    
      	
              9.  

            	
              Successors.

            

    

     

    (a)  The Company will require
any Successor to expressly assume and agree to perform this Severance Plan in
the same manner and to the same extent that the Company would be required to
perform it if no Change of Control had occurred.

    

    (b)  This Plan will inure to
the benefit of and be binding upon the Company, its Successors and assigns and
upon the Executive and his or her legal representatives, estate and
beneficiaries.

    

    

    
      	
              10.  

            	
               Definitions.

            

    

     

    10.1   “Accounting Firm”
means the independent certified public accounting firm serving the Company
immediately prior to the Date of Termination.

     

    10.2   “Annual Base
Salary” means the Executive’s annual base salary as of the Date of
Termination.

    

    10.3   “Applicable
Target Bonus” means the Target Annual Bonus for the Company’s fiscal year which
includes the Date of Termination, provided, however, if there is no such Target
Annual Bonus established by the Date of Termination, the Applicable Target Bonus
will be the Target Annual Bonus established for the Executive for the fiscal
year immediately prior to the year in which the Date of Termination
occurs.

    

    10.4   “Cause” means (i)
the failure of the Executive to perform substantially the Executive's duties
with the Company (other than any such failure resulting from incapacity due to
physical or mental illness) or (ii) the willful engaging by the Executive in
illegal conduct or gross misconduct which is materially and demonstrably
injurious to the Company.

     

    10.5   “Change
of Control” means Change of Control as defined in the Intermec, Inc. Executive
Change of Control Policy for 2008 Omnibus Incentive Plan, Effective January 7,
2009.

    

    10.6   “Change of
Control Date” means the effective date of a Change of Control.

    

    10.7   “Company” means
Intermec, Inc. and/or Intermec Technologies Corporation.

    

    10.8   “Date of
Termination” means (i) if the Executive's employment is terminated by the
Company for Cause, the date of receipt of the Notice of Termination or any later
date specified therein, (ii) if the Executive's employment is terminated by the
Company other than for Cause or Disability, the date on which the Company
notifies the Executive of such termination, or any later date specified therein,
and (iii) if the Executive's employment is terminated by reason of death or
Disability, the date of death of the Executive or the Disability effective date,
as the case may be.

    

    10.9   “Disability”
means the inability of the Executive to perform the Executive's duties with the
Company on a full-time basis for 180 consecutive business days as a result of
incapacity due to mental or physical illness which is determined to be total and
permanent by a physician selected by the Company or its insurers and acceptable
to the Executive or the Executive's legal representative.

    

    10.10 “Excess Parachute Payment”
means an excess parachute payment within the meaning of IRC Section
280G.

    

    10.11  “Executive” means the
Chief Executive Officer, Senior Vice President, or Elected Vice President of the
Company, or other person to whom this Severance Plan applies pursuant to Section
1 hereof.

    

    10.12 “Excise Tax” means the
excise tax imposed by IRC Section 4999.

    

    10.13 “Fringe Benefit Plan” means
any plan, practice, program or policy maintained by the Company with respect to
fringe benefits.

    

    10.14 “Incentive Compensation
Plan” means incentive plans, practices, policies and programs (including stock
option or similar incentive plans) maintained by the Company, including, without
limitation, the Management Incentive Compensation Plan.

    

    10.15 “IRC” means the Internal
Revenue Code of 1986 as amended.

    

    10.16 “IRS” means the U.S.
Internal Revenue Service.

    

    10.17  “Management Incentive
Compensation Plan” means the Intermec, Inc. Management Incentive Compensation
Plan (effective for the Company’s 1999 fiscal year and thereafter) and any
predecessor or successor plans which provide for the grant of annual cash
bonuses or other short-term cash incentive awards.

    

    10.18  “net after-tax
benefit” has the meaning set forth in paragraph 3(a) of this Severance
Plan.

    

    10.19  “Parachute Payment”
means “parachute payment” within the meaning of IRC Section 280G.

    

    10.20  “Payment” has the
meaning set forth in paragraph 3(a) of this Severance Plan.

    

    10.21  “Plan” means Fringe
Benefit Plan, Incentive Compensation Plan, Retirement Plan, Savings Plan, and/or
Welfare Benefit Plan.

    

    10.22  “Repayment Amount” has
the meaning set forth in paragraph 3(c) of this Severance Plan.

    

    10.23  “Reduced Amount” means
an amount expressed in present value which maximizes the aggregate present value
of Payments without causing any Payment to be subject to Excise
Tax.

    

    10.24 “Retirement Plan” means any
qualified or non-qualified defined benefit retirement plan maintained by the
Company, including but not limited to, the Intermec, Inc. Pension Plan, the
Intermec, Inc. Supplemental Executive Retirement Plan and the Intermec, Inc.
Restoration Plan.

    

    10.25  “Savings Plan” means
any qualified or non-qualified savings plan, practice, program or policy
maintained by the Company, including, but not limited to, the Intermec, Inc.
Financial Security and Savings Program, the Intermec 401(k) Retirement Plan, and
the Intermec Deferred Compensation Plan.

    

    10.26  “Section 280G Change
of Control” means a change of control within the meaning of IRC Section
280G.

    

    10.27 “Section 280G Compensation” means
compensation within the meaning of IRC Section 280G.

    

    10.28  “Target Annual Bonus”
means the target annual cash bonus applicable to the Executive under the
Management Incentive Compensation Plan.

    

    10.29  “Welfare Benefit Plan”
means any welfare benefit plan, practice, program or policy provided by the
Company to its employees, including, without limitation, medical, prescription,
dental, disability, salary continuance, employee life, group life, accidental
death and travel accident insurance plans).

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