EXHIBIT 10.2
Personal/Confidential
Mr. Xxxx-Xxxxx von Arb
Xxxxxxxxxxxxxxxxx 00
0000 Xxxx
April 11, 2006
EMPLOYMENT AGREEMENT
between XXXXXXX-XXXXXX INTERNATIONAL INC., Xxxxxxxxxx Xxxxxx, Xx Xxxxxxxxx,
0000 Greifensee, and XXXX-XXXXX VON ARB, born October 20, 1954, citizen of
Switzerland.
The parties enter into an employment agreement on the terms and conditions
set forth below:
Function Head Retail Division,
Member of the Group Management Committee (GMC) of
the XXXXXXX TOLEDO Group
Employing Company / Xxxxxxx-Xxxxxx International Inc., Greifensee Branch,
Position Location 0000 Xxxxxxxxxx.
If not otherwise stipulated in this agreement,
the general rules of employment ("Allgemeine
arbeitsvertragliche Bestimmungen (AVB)" of our
Swiss operations) apply.
Remuneration BASE SALARY of CHF 250'200.-- gross per annum,
effective June 1, 2006, payable in twelve equal
monthly installments of CHF 20'850.--. This base
salary remains unchanged until March 31, 2007.
Participation in the INCENTIVE PLAN POBS PLUS for
Members of the Group Management of XXXXXXX TOLEDO
(Regulations valid as of January 1, 2005
enclosed).
The BONUS, in addition to the yearly base salary,
is based and calculated on the grade of target
achievement at the end of the business year.
For 100% target achievement, the bonus is CHF
93'825.-- gross (37,5% of the base salary).
For business year 2006 the bonus is prorated for
the period June - December 2006.
Expenses Expense Allowance according to the
"Spesenreglementserganzung Gruppenleitung"
(enclosed) of CHF 10'500.-- per annum, payable in
twelve monthly installments of CHF 875.--. No
commuting allowance will be paid.
Equity Incentive Plan Participation in the XXXXXXX TOLEDO Stock Option
Plan as may be amended from time to time.
Personnel Insurance o Participation in the Xxxxxxx-Xxxxxx Fonds
(pension plan for GMC members).
o Additional Accident Insurance, Disability
Insurance (coverage of salary in case of illness
and accident)
The premiums for all these insurances are fully
paid by XXXXXXX TOLEDO. The base for the insured
salary in the Xxxxxxx-Xxxxxx Fonds and other
personnel insurances is CHF 265'837.41 (77.2727%
of Target Salary).
Vacation 30 working days per calendar year, including
compensation for overtime ("Zeitregelung mit
pauschaler Abgeltung").
Duration / This employment agreement starts on June 1, 2006.
Notice Period It is of unlimited duration. The notice period is
12 (twelve) months for both parties.
Non-Competition While Xxxx-Xxxxx von Arb is employed by XXXXXXX
TOLEDO, and for a period of twelve months after
the termination of his employment, Xxxx-Xxxxx von
Arb shall not knowingly engage in or be employed
in any business anywhere in the world which
competes with the principal businesses of XXXXXXX
TOLEDO.
Previous Employment With the effectiveness of this Employment
Agreements Agreement, all previous agreements with XXXXXXX
TOLEDO shall be considered as cancelled. The
acquired years of service since January 1, 1996
are taken into consideration where applicable.
Applicable Law and This agreement shall be governed by Swiss Law.
Jurisdiction All disputes concerning the terms and conditions
of this agreement shall be brought before the
ordinary courts in the Canton of Zurich,
Switzerland.
Xxxxxxx-Xxxxxx International Inc. The Employee
Xxxxxx X. Xxxxxxx Xxxxx Xxxxxx Xxxx-Xxxxx von Arb
Enclosures
- GMC POBS Plus Regulations
- Spesenreglementserganzung (4/1997)
