Document:

EX-10.23

 

    Exhibit 10.23
    

 

    Mettler-Toledo
    International Inc.

    2007 Share Plan

    (February 7, 2008)
    

 

    1.  Purpose of the Plan.  This
    Share Plan sets out the conditions under which certain employees
    of Mettler-Toledo International Inc. (MTII) may be granted
    shares of MTII.

 

    2.  Administration.  The Plan
    will be administered by the Compensation Committee of the Board
    of Directors of MTII. The Compensation Committee has full power
    and authority to establish such rules and regulations as it may
    deem appropriate for the administration and operation of the
    Plan. The Compensation Committee may make determinations and
    interpretations relating to the Plan in its sole discretion, and
    its decisions shall be binding upon all participants.

 

    3.  Participants.  Employees
    who participate in the POBS Plus Incentive System for Members of
    the Group Management of METTLER TOLEDO (POBS Plus Bonus Plan)
    shall be eligible to participate in the Plan, subject to
    Compensation Committee approval.

 

    4.  Annual Notice.  Each year
    participants shall send a written notice to the Corporate
    Secretary within two weeks following the announcement of
    MTII’s full-year financial results, specifying if they wish
    to receive a certain percentage of their possible POBS Plus
    bonus in MTII shares rather than in cash. Based on this
    information the Compensation Committee determines annually for
    each participant the number of shares to be granted. The grant
    of MTII shares is in the sole discretion of the Compensation
    Committee.

 

    5.  Share Issuance.  Shares
    determined for issuance by the Compensation Committee will be
    granted on the date that the POBS Plus bonus would otherwise
    have been communicated and paid to the participant (date of
    issuance). The issue price for the shares shall be equal to the
    NYSE closing price of the date of issuance. No fractional shares
    will be issued.

 

    6.  Restrictions on
    Shares.  All shares issued pursuant to this
    Plan shall be restricted for a period of five years from the
    date of issuance, during which time they may not be sold,
    assigned, transferred or otherwise disposed of, nor may they be
    pledged or otherwise hypothecated; provided that a transfer may
    be made to an offshore company which is fully Swiss controlled
    and treated transparently for Swiss tax purposes (as evidenced
    by prior approval by the relevant cantonal tax administration).
    This restriction shall apply notwithstanding the earlier
    termination of a participant’s employment with MTII, other
    than termination due to death or disability. During the
    restricted period, shares will be held in book-entry form in an
    account maintained by or on behalf of MTII on behalf of each
    participant. Participants will have all of the rights of a
    stockholder with respect to such shares, including the right to
    vote the shares and to receive all dividends or other
    distributions paid or made with respect thereto.

 

    7.  No Right to Continued
    Employment.  This Plan does not confer upon
    any participant any right to continued employment, and nothing
    in this Plan shall interfere with or limit in any way
    MTII’s right to terminate a participant’s employment.

 

    8.  Taxation.  Income taxes,
    including capital gains taxes, if any, due upon the issuance or
    sale of shares are the obligation of each participant. Social
    security contributions due upon the issuance of shares are
    shared equally between MTII and the participant. Each
    participant agrees to pay to MTII, prior to any share issuance,
    the federal, state and local income taxes and other amounts as
    may be required by law to be withheld by MTII.

 

    9.  Amendment and
    Termination.  The Board of Directors of MTII
    may at any time in its sole discretion terminate this Plan or
    make such amendments or modifications as it deems advisable.

 

    10.  Applicable Law;
    Disputes.  The validity, interpretation,
    construction and performance of this Plan shall be subject to
    and governed by Swiss law, without giving effect to the
    conflicts of laws principles thereof. Any dispute or
    disagreement which may arise under, or as a result of, or in any
    way relate to, the interpretation, construction or application
    of this Plan shall be determined by the Compensation Committee.EX-10.57

 

    Exhibit 10.57
    

    Date December 4, 2007

    Reference PB/em

    Direct Dial +41 44 944 22 85

    Telefax +41 44 944 22 55

 

    Employment Agreement
    

 

    between Mettler-Toledo International Inc., Greifensee Branch, Im
    Langacher, 8606 Greifensee, Switzerland, and Thomas Caratsch,
    born October 22, 1958, citizen of Switzerland.

 

    The parties enter into an employment agreement on the terms and
    conditions set forth below:

 

			
	
    Function 		
    Head Laboratory Division, Member of the Group Management
    Committee (GMC) of the METTLER TOLEDO Group.
	 
	
    Employing Company/Position Location 		
    Mettler-Toledo International Inc., Greifensee Branch, 8606
    Greifensee, Switzerland. The principal place of work is
    Greifensee, Switzerland. Given the international presence of the
    company, employee’s duties will require regular business
    travel to the Group’s various locations.
	 
	
		
    If not otherwise stipulated in this agreement, the general rules
    of employment (“Allgemeine arbeitsvertragliche Bestimmungen
    (AVB)” of our Swiss operations) apply.
	 
	
    Remuneration 		
    Base Salary of CHF 300’000.— gross per annum,
    effective January 1, 2008 payable in twelve equal monthly
    installments of CHF 25’000. — .
	 
	
		
    Participation in the Incentive Plan POBS Plus for Members of the
    Group Management of METTLER TOLEDO pursuant to the then-current
    plan and regulations. Under this plan employee is eligible to
    earn a Bonus based upon achievement of various financial and
    personal targets. For 100% target achievement, the bonus is
    currently CHF 135’000.— gross (45% of base
    salary). The scaling of the bonus system, and selection and
    weighting of targets, including personal targets, are at the
    sole discretion of the Compensation Committee of the Board of
    Directors.
	 
	
    Expenses 		
    Expense Allowance according to then-current regulations of
    CHF 10’500.— per annum, payable in twelve
    monthly installments of CHF 875. — . No commuting or
    vehicle allowance will be paid.
	 
	
    Equity Incentive Plan 		
    Participation in the METTLER TOLEDO Equity Incentive Plan as may
    be amended from time to time.
	 
	
    Personnel Insurance 		
    Additional Accident Insurance and Disability Insurance (coverage
    of salary in case of illness and accident), at METTLER
    TOLEDO’s expense.
	 
	
		
    Participation in the Mettler-Toledo Fonds (pension plan for GMC
    members) as might be amended from time to time, at METTLER
    TOLEDO’s expense for the “Standard plan minus”.
    The insured salary in the Mettler-Toledo Fonds and other
    personnel insurances is 77.2727% of Target Salary, subject to
    limits applicable under Swiss law.
	 
	
    Vacation 		
    30 working days per calendar year, including compensation for
    overtime (“Zeitregelung mit pauschaler Abgeltung”).
    Unused vacation days in a given year will not be carried forward.

 

 

			
	
    Duration 		
    This employment agreement starts on January 1, 2008 and is
    of unlimited duration.
	 
	
    Notice Period 		
    The notice period is 12 months to the end of a month for
    both parties.
	 
	
    Non-Competition 		
    While employee is employed by METTLER TOLEDO and for a period of
    twelve months after his termination, employee shall not directly
    or indirectly (a) engage in or be employed in any business
    anywhere in the world which competes with the businesses of
    METTLER TOLEDO, or (b) solicit for hire or hire any
    METTLER TOLEDO employee.
	 
	
		
    In particular, employee agrees (i) not to accept any
    employment in a business or company which develops, produces,
    markets or distributes products substantially similar to the
    products of METTLER TOLEDO or any of METTLER TOLEDO’s
    affiliated companies or to render services substantially similar
    to METTLER TOLEDO and any of METTLER TOLEDO’s affiliates,
    including any companies which METTLER TOLEDO, in the last
    24 months prior to the termination of the employment,
    evaluated acquiring (hereinafter a “Competitor”),
    (ii) not to act as a consultant or representative or in any
    other form on behalf of a Competitor, (iii) not to have
    directly or indirectly, any financial or other interest in a
    Competitor, (iv) not to directly or indirectly establish a
    Competitor, (v) not to engage in any activity that competes
    with METTLER TOLEDO or any of METTLER TOLEDO’s affiliated
    companies.
	 
	
		
    Employee acknowledges that a violation of employee’s
    obligations not to compete as set forth in the preceding
    paragraphs might cause serious damage to METTLER TOLEDO. In the
    event employee violates his/her obligations not to compete,
    METTLER TOLEDO shall be entitled to seek judicial enforcement of
    such obligation. Furthermore, employee shall pay to METTLER
    TOLEDO liquidated damages in an amount equal to one annual
    salary, calculated based on the aggregate income that employee
    received during the last 12 months of employee’s
    employment with METTLER TOLEDO including the value of equity, or
    based on such shorter actual period of employment as may be
    applicable. Payment of the liquidated damages does nor relieve
    employee from the obligation not to compete. METTLER
    TOLEDO’s right to claim damages exceeding the amount of
    liquidated damages is expressly reserved.

 

 

			
	
    Miscellaneous 		
    Tax filings:
	 
	
		
    The parties acknowledge a separate agreement will be signed
    regarding tax equalization matters.
	 
	
    Previous Employment Agreements 		
    With the effectiveness of this employment agreement, all
    previous employment agreements with METTLER TOLEDO shall be
    considered cancelled. The acquired period of service since
    October 1, 2007 is taken into consideration where
    applicable.
	 
	
    Applicable Law and Jurisdiction 		
    This agreement shall be governed by Swiss law. 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 Bürker
	
 
	
    Thomas Caratsch

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