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[LETTERHEAD OF TYCO]
TYCO INTERNATIONAL (US) INC.
PO BOX 5035
BOCA PATON, FL 33431-0835
WRITER'S DIRECT: 561-988-3683
WRITER'S FAX: 561-988-3639
INTEROFFICE MEMORANDUM
[ILLEGIBLE]
DATE September 29, 2000
TO Files
FROM Mark Swartz
SUBJECT Special TyCom related bonuses
On July 27, 2000, Tyco successfully completed the TyCom IPO. The sale
of 14% of TyCom generated a one-time gain of approximately $1.760
billion 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 TyCom, 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, rather
the amounts represent an incremental payment to reward selected
employees for the successful TyCom IPO and the generation of a $1.760
billion gain.
Cc: LD Kozlowski
P Prue
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