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Engagement Agreement

 

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Title:

Engagement Agreement

Entities:

On Technology Corp.

Date:

2002

Size:

Preview shows 5KB of 33KB total

Price:

$38

ID:

#1273934

 

 

► Fee Agreements ► Engagement Agreements

 

 

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                              ENGAGEMENT AGREEMENT


THIS AGREEMENT made as of January 1, 2002 (the effective date), by and
between ON Technology Geschaftsfuhrungs GmbH, a German corporation (the
"Company"), and Mr. Harald Faulhaber (the "VP EMEA Operations").

WHEREAS, the VP EMEA Operations has been a Sales Director of the
Company in the past, and the VP EMEA Operations and the Company now desire to
enter into a new relationship.

NOW THEREFORE, in consideration of the premises and the mutual
agreements hereinafter contained, and for good and valuable consideration the
parties agree as follows:

1. New Engagement. The prior relationship between the parties is
hereby terminated. The Company hereby re-engages the VP EMEA Operations as
Geschaftsfuhrer, and the VP EMEA Operations hereby accepts such engagement
by the Company, upon the terms and conditions hereinafter set forth.

2. Management Duties

2.1. The VP EMEA Operations shall be entitled and obliged to
represent the Company and to manage the business in accordance with
all applicable laws and statutory regulations, the articles of
incorporation, the rules of administration, if any, as well as the
provisions hereof, and shall be bound by shareholders' resolutions.

2.2. The VP EMEA Operations shall bear particular responsibility
for all operative activities in Europe, Australia, New Zealand, The
Middle East, Far East, and Africa.

2.3. The VP EMEA Operations shall in all situations obtain the
prior consent of the Company's Stockholders for matters exceeding the
day-to-day running of the business of the Company, including those
examples listed in Appendix A1 hereto.

2.3. The VP EMEA Operations shall report to the President of ON
Technology Corporation ("ON Technology"), a Delaware USA corporation
and the indirect parent of the Company.

2.5. The VP EMEA Operations shall execute his office with the
care and diligence of a prudent businessman and shall faithfully
perform the duties entrusted to him by law and contract. He shall be
obligated to serve and promote the business of the Company to the best
of his ability, for the purpose thereof he shall place at the
disposition of the Company all of his knowledge and ability as well as
his entire working capacity, and agrees not to accept or perform full
or part time employment or consulting services, or other "freelance"
activities for any other business or non-profit entity, unless
otherwise approved in writing by the Company's stockholders. The PC
shop, which is legally owned by the VP EMEA Operations, is approved by
the stockholders. The VP EMEA Operations may, however, render general
business advice to third parties without remuneration or in connection
with the VP EMEA Operations investment activities so long as such
activity does not; (a) constitute employment by another company, (b)
violate the VP EMEA Operations Non-Solicitation obligations set forth
in Section 9 herein; or (c) interfere with the VP EMEA Operations's
said full time and best efforts obligations to the Company.

3. Term. The VP EMEA Operations's term of engagement (the
"Engagement Period") under this agreement is open-ended.

4. Compensation. The Company agrees to pay the VP EMEA Operations as
follows in consideration for his services hereunder:

1

<PAGE>

4.1. Base Salary. Company hereby agrees to pay the VP EMEA
Operations an annual salary of one hundred sixty six thousand six
hundred sixty seven Euros ((euro) 166.667) per year beginning as of
the Effective Date (the "Base Salary") in accordance with Company's
present payroll policies.

4.2. Incentive Compensation. In addition, the VP EMEA Operations
will be eligible for an annual incentive bonus, payable under the

 

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