[LETTERHEAD OF TYCO] Tyco International (US) Inc. P.O. Box 5035 Boca Raton, FL 33431-0835 Writer's Direct: 561-988-3683 Writer's Fax: 561-988-3639 INTEROFFICE MEMORANDUM[ILLEGIBLE]DATE December 15, 2000TO FilesFROM Mark SwartzSUBJECT Special ADT Automotive related bonuses In October 2000, Tyco successfully completed the sale of ADT Automotive. The automotive business was sold for $1 billion and generated a one-time gain in excess of $400 million on the books of Tyco. We have decided to award special bonuses to various Tyco employees for their efforts over the past few years in enhancing the value of the Automotive business, and thereby contributing to this gain. Selected employees will receive their bonus in the form of Cash, forgiveness of relocation loans, and/or Tyco Common shares under Tyco's restricted stock program. These bonus payments are NOT in lieu of a normal yearend bonus, nor an advance of the FY01 yearend bonus, rather the amounts represent an incremental payment to reward selected employees for the successful sale of the Automotive business and the generation of a gain in excess of $400 million. Cc: L.D Kozlowski P Prue
Sponsored Links