Employment Agreement between Lexmark International Technology, S.A. ICC Bloc A 20, route de Pré-Bois Case Postale 508 CH – 1215 Genève 15

Exhibit 10.40

		Lexmark International Technology SA
		ICC-Bloc A
		20, route de Pré-Bois
		Xxxx Xxxxxxx 000
		XX – 1215 GENÈVE 15

Employment Agreement

between

Lexmark International Technology, S.A.
ICC Bloc A
20, route de Pré-Bois
Xxxx Xxxxxxx 000
XX – 1215 Genève 15

- herein after called “The Company” –

and

Xx. Xxxxx Xxxxxx

1.		Position/Activities
		The Company will employ Xx. Xxxxx Xxxxxx as “Vice President and General Manager -EMEA”.
2.		Compensation
2.1		For his services Xx. Xxxxx Xxxxxx will receive an annual base salary of CHF 580’000.- payable in 13 (thirteen) monthly instalments at the end of each calendar month. In addition, Xx. Xxxxx Xxxxxx will be entitled to a bonus scheme which will be 30%/60%/95% of his annual base salary, earned during the relevant period and subject to achieving his minimum, target or maximum objectives. The bonus, as earned, will be paid to him by the end of March of the following year in accordance with his objectives as communicated to Xx. Xxxxx Xxxxxx from time to time.
2.2		The compensation paid in accordance with Section 2.1 also covers any claims for payment of a Christmas bonus, vacation pay and any other additional compensation.
2.3.		The compensation paid in accordance with Section 2.1 is subject to social security deductions according to the pension scheme and accident insurance mentioned in Section 4 hereunder as well as to taxes deductions.
2.4.		Medical insurance contributions are the responsibility of Xx. Xxxxx Xxxxxx.

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		Lexmark International Technology SA
		ICC-Bloc A
		20, route de Pré-Bois
		Xxxx Xxxxxxx 000
		XX — 1215 GENÈVE 15

3.		Expenses
		Xx. Xxxxx Xxxxxx shall, against the submission of the appropriate vouchers, be reimbursed for all reasonable expenses incurred in the interest of the Company.
4.		Pension Scheme and Accident Insurance
		The Company shall insure Xx. Xxxxx Xxxxxx under, and pay the employer’s premiums for, old age pension scheme, and accident insurance to the extent required by the mandatory provisions of Swiss law. In addition, Xx. Xxxxx Xxxxxx will benefit from Lexmark pension plan.
5.		Vacation
		Xx. Xxxxx Xxxxxx will be in line with the “Employee Handbook”. (File attached)
6.		Secrecy
6.1.		Xx. Xxxxx Xxxxxx will keep strictly secret all business matters and acts which by their nature are not intended for third parities, in particular business and trade secrets of the Company and its associated companies.
6.2.		Xx. Xxxxx Xxxxxx will also not disclose the compensation paid to him.
6.3.		The obligation to secrecy under Sections 6.1 and 6.2 above continues unchanged for the time after termination of this Employment Agreement.
7.		Term of Agreement
7.1		This Employment Agreement will start on 1 October 2007 and last for an unlimited time period, although it may be terminated by each party as per the “Employee Handbook.” The notice has to be given by registered mail or by handing over a written notice.
7.2		During the notice period the Company shall at any time be entitled to release Xx. Xxxxx Xxxxxx from his working duties.
8.		Obligation to Surrender Documents
8.1.		When leaving the service of the Company, Xx. Xxxxx Xxxxxx will completely surrender to the Company all printed matters, deeds, memoranda, notes, drafts, etc., which refer to matters of the Company or its associated companies and which are still in his possession. This obligation extends also to duplicates and photocopies and to documents which have been addressed to him personally, but in his capacity as an employee of the Company, and to copies of papers which he has personally, but in such capacity, sent to third persons.
8.2.		No right of retention exists vis-a-vis the obligation to surrender under Section 8.1.

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		Lexmark International Technology SA
		ICC-Bloc A
		20, route de Pré-Bois
		Xxxx Xxxxxxx 000
		XX — 1215 GENÈVE 15

9.		Changes to be in Writing
		Changes and amendments of this Employment Agreement must be done in writing.
10.		Applicable Law
		This employment Agreement is governed by the laws of Switzerland.
12.		Acceptance of this agreement implies the acceptance of the “Employee Handbook” content which is attached to that mail

Geneva, 26 September 2007                                                            

LEXMARK INTERNATIONAL TECHNOLOGY, S.A.

/s/ Laurent Giannichi Laurent Giannichi

LITSA Managing Director

/s/ Xxxxx Xxxxxx Xx. Xxxxx Xxxxxx

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