劳动合同范本.docx

劳动合同范本.docx

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劳动合同范本

EMPLOYMENTANDNON-COMPETITIONAGREEMENT

（LouHedrickJones）

THISEMPLOYMENTANDNON-COMPETITIONAGREEMENT（the“Agreement”）isexecutedasofthisfirstdayofJune,2009,andeffectiveasofJune15,2009（the“DateofHire”）,byandbetweenTempur-PedicInternationalInc.,aDelawarecorporation（the“Company”）,andLouHedrickJones,anindividual（“Employee”）.

Inconsiderationofthepremisesandthemutualagreementsandcovenantscontainedherein,andforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichisherebyacknowledgedbytheCompanyandEmployee,

ITISHEREBYAGREEDASFOLLOWS:

ARTICLEI

EMPLOYMENT

1.1  TermofEmployment.  EffectiveasoftheDateofHire,theCompanyagreestoemployEmployee,andEmployeeacceptsemploymentbytheCompany,fortheperiodcommencingontheDateofHireandendingonthefirstanniversaryoftheDateofHire（the“InitialTerm”）,subjecttoearlierterminationashereinaftersetforthinArticleIII.  UnlessearlierterminatedinaccordancewithArticleIII,followingtheexpirationoftheInitialTerm,thisAgreementshallbeautomaticallyrenewedforsuccessiveone-yearperiods（collectively,the“RenewalTerms”;individually,a“RenewalTerm”）unless,atleastninety（90）dayspriortotheexpirationoftheInitialTermorthethencurrentRenewalTerm,eitherpartyprovidestheotherwithawrittennoticeofintentionnottorenew,inwhichcasetheEmployee’semploymentwiththeCompany,andtheCompany’sobligationshereunder,shallterminateasoftheendoftheInitialTermorsaidRenewalTerm,asapplicable.  Exceptasotherwiseexpresslyprovidedherein,thetermsofthisAgreementduringanyRenewalTermshallbethesameasthetermsineffectimmediatelypriortosuchrenewal,subjecttoanysuchchangesormodificationsasmutuallymaybeagreedbetweenthepartiesasevidencedinawritteninstrumentsignedbyboththeCompanyandEmployee.

1.2  PositionandDuties.  EmployeeshallbeemployedinthepositionofExecutiveVicePresident,GeneralCounselorsuchotherexecutivepositionasmaybeassignedfromtimetotimebytheCompany’sChiefExecutiveOfficer;providedthatanyexecutivepositionthatdoesnotalsoincludecontinuingintheroleofGeneralCounselwillrequiretheconsentoftheEmployee.  Insuchcapacity,Employeeshallbesubjecttotheauthorityof,andshallreportto,theCompany’sChiefExecutiveOfficer.  Employee’sdutiesandresponsibilitiesshallincludethosecustomarilyattendanttoEmployee’spositionandsuchotherdutiesandresponsibilitiesasmaybeassignedfromtimetotimebytheChiefExecutiveOfficer.  EmployeeshalldevoteEmployee’sentirebusinesstime,loyalty,attentionandenergiesexclusivelytothebusinessinterestsoftheCompanywhileemployedbytheCompany,andshallperformherdutiesandresponsibilitiesdiligentlyandtothebestofherability.

1.3  OtherDocuments.  OnorpriortotheDateofHiretheEmployeewillexecuteanddelivertotheCompanythefollowing:

  RelocationAssistancePaybackAgreementandCorporateGovernanceHandbookAcknowledgement,eachintheformpreviouslyfurnishedbytheCompany.

ARTICLEII

COMPENSATIONANDOTHERBENEFITS

2.1  BaseSalary.  TheCompanyshallpayEmployeeaninitialannualsalaryof$330,000.00（“BaseSalary”）,payableinaccordancewiththenormalpayrollpracticesoftheCompany.  TheEmployee’sBaseSalarywillbereviewedandbesubjecttoadjustmentfromtimetotimebytheBoardofDirectorsoritsCompensationCommitteeattheirdiscretioninaccordancewiththeCompany’sannualreviewpolicy.  BasedontheCompany’scurrentpolicy,theCompanyexpectsEmployee’sfirstannualreviewwouldbeApril1,2010.

2.2  PerformanceBonus.

（a）           Employeewillbeeligibletoearnanannualperformance-basedbonusbasedonperformancecriteriaapprovedbytheCompany’sBoardofDirectorsoritsCompensationCommitteeforeachfullorprorataportionofanyfiscalyearduringwhichEmployeeisemployedbytheCompany（each,a“BonusYear”）,thetermsandconditionsofwhichaswellasEmployee’sentitlementtheretobeingdeterminedannuallyinthesolediscretionoftheCompany’sBoardofDirectorsoritsCompensationCommittee（the“PerformanceBonus”）.  TheamountofthePerformanceBonuswillvarybasedontheachievementofCompanyandindividualperformancecriteriaestablishedbytheCompany’sBoardofDirectorsoritsCompensationCommittee,buttheperformancecriteriawillbesettotargetaPerformanceBonusequaltoadesignatedpercentageofBaseSalaryasofDecember31stoftheapplicableBonusYeariftheperformancecriteriaaremet（the“TargetBonus”）.

（b）           For2009,EmployeewillbeentitledtoaPerformanceBonusthatwillbeproratedfor2009basedontheDateofHire.  TheperformancecriteriaforEmployee’s2009PerformanceBonuswillbedeterminedbytheCompensationCommitteepromptlyafterthedateofthisAgreement,inaccordancewiththeCompany’sAnnualIncentiveBonusPlanForSeniorExecutives,andtheperformancecriteriawillbesettotargetaPerformanceBonusequalto55%ofEmployee’sBaseSalaryfor2009.

2.3  GrantofStockOption.

（a）           PursuanttotheTempur-PedicInternationalInc.2003EquityIncentivePlan,asamended,effectiveasoftheDateofHiretheEmployeeshallbegrantedanoptiontopurchaseeightythousand（80,000）sharesofthecommonstockof  theCompany（the“OptionedShares”）atapurchasepriceperOptionedShareequaltotheclosingpriceontheNewYorkStockExchangeoftheCompany’scommonstockontheDateofHire.ThisgrantshallvestinfourinstallmentsoverfouryearsandshallbemadepursuanttoastockoptionagreementbetweentheCompanyandEmployeeintheformattachedheretoasExhibitA.

（b）           TheCompanyexpectsthatEmployeewillbeconsideredforanadditionalstockoptiongrantinApril2011,andannuallythereafter,butthetiming,amountandtermsofanyfuturegrantswillbesubjecttothediscretionoftheBoardofDirectorsortheCompensationCommittee.

2.4  HiringBonus.AsadditionalconsiderationforEmployee’sagreementtoacceptemploymentwiththeCompany,theCompanywillpaytoEmployeeaone-timebonusof$50,000.Thisbonusispayableninety（90）daysaftertheDateofHire,providedthat,asofthedatepaymentwouldotherwisebemade,theEmployeeisconsideredanemployeeoftheCompanyingoodstanding;andprovidedfurtherthatintheeventthat,withintwelvemonthsoftheDateofHire,EmployeeisterminatedForCausepursuanttoparagraph3（c）below,orresignsheremploymentwiththeCompanyotherthanforGoodReason,EmployeeshallrepaytotheCompanytheentireamountofthebonusdescribedabovewithinthirty（30）daysoftheterminationofEmployee'semployment.

2.5  BenefitPlans.  EmployeewillbeeligibletoparticipateintheCompany’sretirementplansthatarequalifiedunderSection401（a）oftheInternalRevenueCodeof1986,asamended（the“Code”）,andintheCompany’swelfarebenefitplansthataregenerallyapplicabletoallexecutiveemployeesoftheCompany（the“Plans”）,inaccordancewiththetermsandconditionsthereof.  AbriefdescriptionoftheCompany’scurrentbenefitsiscontainedinExhibitBhereto.

2.6  AutomobileAllowance.  TheCompanyshallpaytoEmployeeanautomobileallowanceof$600.00permonth.

2.7  Vacation.  Employeeshallbeentitledtothreeweeks（fifteen（15）days）vacationdaysinthecalendaryearaftertheDateofHireandthreeweeks（fifteendays）atEmployee’sone-yearanniversaryandeachyearthereafter,subjecttoandtobetakeninaccordancewiththeCompany’sgeneralvacationpoliciesforsimilarlysituatedexecutiveemployees.

2.8  RelocationBenefits.  TheCompanywillprovideEmployeewithrelocationassistanceinaccordancewiththepolicyandotherprovisionssetforthinExhibitC.

2.9  Expenses.  TheCompanyshallreimburseEmployeeforallauthorizedandapprovedexpensesincurredinthecourseoftheperformanceofEmployee’sdutiesandresponsibilitiespursuanttothisAgreementandconsistentwiththeCompany’spolicieswithrespecttotravel,entertainmentandmiscellaneousexpenses,andtherequirementswithrespecttothereportingofsuchexpenses.

2.10  Withholdings.  AllpaymentstobemadebytheCompanyhereunderwillbesubjecttoanywithholdingrequirements.

ARTICLEIII

TERMINATION

3.1  RighttoTerminate;AutomaticTermination.

（a）  TerminationbyCompanyWithoutCause.  SubjecttoSection3.2,theCompanymayterminateEmployee’semploymentandalloftheCompany’sobligationsunderthisAgreementatanytimeandforanyreason.

（b）  TerminationbyEmployeeforGoodReason.  SubjecttoSection3.2,Employeemayterminateheremploymentobligationhereunder（butnotherobligationsunderArticleIVhereof）for“GoodReason”（ashereinafterdefined）ifEmployeegiveswrittennoticethereoftotheCompanywithinthirty（30）daysoftheeventshedeemstoconstituteGoodReason（whichnoticeshallspecifythegroundsuponwhichsuchnoticeisgiven）andtheCompanyfails,withinthirty（30）daysofreceiptofsuchnotice,tocureorrectifythegroundsforsuchGoodReasonterminationsetforthinsuchnotice.  “GoodReason”shallmeananyofthefollowing:

  （i）relocationofEmployee’sprincipalworkplaceoversixty（60）milesfromtheCompany’sexistingworkplaceswithouttheconsentofEmployee（whichconsentshallnotbeunreasonably withheld,delayedorconditioned）,or（ii）theCompany’smaterialbreachofthisAgreementoranyotherwrittenagreementbetweenEmployeeandtheCompanywhichisnotcuredwithinthirty（30）daysafterreceiptbytheCompanyfromEmployeeofwrittennoticeofsuchbreach.