Employment
Contract
Skyflyer Technology GmbH,
Friedrich List Allee 10,
41488 Wegberg-Wildenrath
in the following the
“Employer”
and
Dr. Manfred Sappok,
Geldener Strasse 94,
47918 Tönisvorst 1
in the following the
“Employee”
Enter into the following employment
contract:
1
§
1 Employment contract start
date
The employment contract start
date is June 1 st , 2005. Regular termination prior to
the employment contract start date is excluded.
§ 2
Responsibilities
Dr. Sappok shall be employed as
Managing director [“Geschäftsführer”]. Dr.
Sappok shall be responsible for the commercial management and
coordination of projects for the Employer.
Dr. Sappok is authorized to
solely represent the Employer.
§ 3
Remuneration
For his work, Dr. Sappok shall
receive the following remuneration:
Starting on June 1 st
, 2005 a monthly salary in the total gross amount of € 2,330
(in words: two thousand three hundred and thirty Euros).
For each system sold Dr. Sappok
shall receive a profit share in the amount of 1.5% of the selling
price.
At the end of 2005 Dr.
Sappok’s fixed monthly salary shall be reviewed to decide
whether it is still appropriate, and shall be newly established
together with the shareholders.
§ 4 Contract
period / Termination
The contract period is
indefinite. It may be terminated at the end of each calendar year
by giving one year’s notice.
Termination must occur by
registered letter or hand-delivery of a written notice.
2
Otherwise
the contract terminates at the end of the month in which Dr. Sappok
reaches the age of 65. Any potential extension of the contract
beyond that point in time shall be by mutual agreement between Dr.
Sappok and the Employer’s shareholders.
In case of termination by Dr.
Sappok, the company may forego, in whole or in part, any additional
work by Dr. Sappok with the continued payment of his fixed
remuneration (fixed salary and guaranteed profit share) until the
end of the termination period. If the company foregoes Dr.
Sappok’s services, his entire remuneration from his new
employment shall be deducted from the remuneration thus
far.
In the event that Dr. Sappok is
temporarily prevented from fulfilling his responsibilities as
Managing director due to illness or for other reasons beyond his
control, Dr. Sappok shall receive the fixed remuneration (fixed
salary and guaranteed profit share) for a period of 6 months, but
not exceeding the contract period. After the 6 months, the
supervisory board shal
