Keynote SIGOS GmbH
,
Klingenhofstraße 50d,
90411 Nuremberg
- hereinafter referred to as the
“ Company ” -
- hereinafter referred to as the
“ Managing Director ” -
The employment
relationship existing between the Parties shall end by common
consent with effect as of September 30, 2008. The Parties
agree that the Minimum Employment Period pursuant to the so-called
addendum to the existing employment agreement shall be deemed
fulfilled as of this point in time.
§ 2 Resignation from
office
The Managing
Director will resign from his office as Managing Director of the
Company with effect as of July 31, 2008. Should the Company
request that he do so, he will submit a separate statement of
resignation. The Managing Director is granted formal approval for
his previous actions in his capacity as managing
director.
Starting from
August 1, 2008 the Managing Director will first receive the
holiday to which he is still entitled. After receiving his full
holiday entitlement, the Managing Director will be revocably
released from his duty to perform service until September 30,
2008.
The Parties
agree that the release shall not have any influence on the amount
of the bonus to be paid to the Managing Director for the 2008
calendar year. That bonus will be paid after the close of the
financial
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year, subject
to the degree of target achievement which has been established for
the current management team for the entire year, as a percentage of
annual salary on a pro rata basis through September 30,
2008.
§ 5 Post-contractual
prohibition of competition
The
post-contractual prohibition of competition agreed between the
Parties is hereby revoked by common consent and replaced by the
following provision:
The Managing
Director is prohibited from carrying on any activities until
March 31, 2010 on an employed, freelance or any other basis
for any enterprise which is directly or indirectly a competitor of
the Company. He is likewise prohibited from establishing or
acquiring or directly or indirectly participating in such an
enterprise during the term of the present contract. A shareholding
of less than 5% in a listed company shall not be deemed a
“participation” in the above sense provided it does not
give the Managing Director influence over the company’s
organisation.
The Company
agrees to pay compensation to the Managing Director for the term of
the prohibition in the amount of EUR 9,500.00 gross per
month.
Incidentally,
Sections 74 et sqq of the German Commercial Code do
apply.
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The Managing
Director remains obligated to maintain silence vis-à-vis
outsiders with respect to all matters of the Company. Reference is
made to the obligation in section 12 of the Service
Agreement.
The Company
shall continue to make the company car which the Managing Director
uses today available to him until November 30, 2009. The
Managing Director is entitled to use the company car also for
private purposes. The Company shall bear the costs for the car for
the leasing rates up to a maximum amount of EUR 752.99 per month,
for insurance up to a maximum amount of EUR 114.28 per month, for
motor vehicle tax up to a maximum amount of EUR 38.58 per month and
for maintenance up to a maximum amount of EUR 111.52 per month. All
other costs, including costs for petrol and maintenance of the car,
as well as in addition to the motor vehicle tax potentially
applicable taxes shall be borne by the Managing
Director.
§ 8 Return of company
property
The Managing
Director shall return all documents, notes, data and other
materials related to his work as Managing Director to the Company
by July 31, 2008. He is not entitled to make copies or
duplicates. At the same point in time, the Managing Director shall
also return all other objects
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to the Company
that were provided to him in connection with his work as Managing
Director; with respect to the company car, Section 7 does
apply.
Only the German
version of this Contract shall be binding.
If individual
provisions of this Agreement are or become wholly or partially
invalid or if there should be omissions in this Agreement, the
validity of the remaining provisions shall not hereby be affected.
In place of the invalid provision, a valid provision shall be
deemed to be agreed upon which corresponds to the sense and purpose
of
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