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Exhibit 10.21
EMPLOYMENT CONTRACT
Agreement has this day been made between Amersham Pharmacia Biotech,
hereinafter called "the Company", and Xx. Xxxxx Xxxxxxxxx hereinafter called
"the Employee".
SECTION 1 EMPLOYMENT AND EMPLOYEE'S OBLIGATIONS
The Company promotes the Employee to the position as vice president,
Separations. The Employee takes up his new position as from 1 January,
2000.
In this capacity the Employee shall perform his duties as specified by
the Deputy CEO.
The Employee shall devote the whole of his working time to his duties
under this agreement and may not undertake any other duties without a
written consent form the Company.
The employment is open ended. LAS - Lagen om Anstellningsskydd - is
not applicable.
SECTION 2 REMUNERATION
2.1 Base salary
The Employee's annual base salary shall be SEK 960,000 (nine hundred
and sixty thousand) payable according to local practice. The salary
will be reviewed annually, and change will be effective 1 January.
First review will be effective 1 January, 2001. On this occasion, the
annual base salary shall be increased with 8,5% in excess of the
average management increase for Swedish senior managers, excluding
members of the Executive Management Team, providing satisfactory
performance has been achieved by the Employee.
Any bonuses, gifts or other payments which the Company may grant or
make to the Employee from time to time, to the extent that they are
not required by law or by this contract, shall be treated as having
been granted or made at the Company's absolute discretion and shall
not be considered a part of the employee's contractual remuneration.
2.2 Bonus payments
The Employee will be entitled to a payment based upon performance by
the Employee. Associated conditions will be in line with Group policy.
Maximum bonus amount is 30 per cent of the base salary. Details
regarding objectives and incentives will be settled in a separate
agreement.
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2.3 Company car
The Employee is entitled to a Company car for business and private
use. All conditions related to the car will be in line with the
Company car policy.
SECTION 3 EXPENSES
The Company will reimburse the Employee for all reasonable business
expenses incurred by him during the course of the employment. The
Employee must provide receipts and other evidence of such business
expenses.
SECTION 4 PENSION AND INSURANCE COVERAGE
The Employee is retained in the ITP plan.
SECTION 5 HOLIDAY ENTITLEMENT
The Employee is entitled to 30 days holiday in any calendar year.
SECTION 6 SOCIAL SECURITY CONTRIBUTIONS AND INCOME TAXES
The Employee will pay tax and social security contributions in
accordance with Swedish regulations and the Company will withhold the
necessary deductions for this.
SECTION 7 TERMINATION OF CONTRACT
The contract may be terminated by either party giving to the other
6 months advance notice in writing. The Company reserves the right to
remove the Employee from his position during the time of notice or
part of it. During the time of notice the Employee is entitled to the
conditions of this agreement with the exception of bonus.
Should the contract be terminated by the Employer during the period
1 January 2000 to 31 December 2002, the Employee shall receive in
addition to time of notice a severance pay amounting to 24 months
salary as per date the day before giving notice. Should the contract
be terminated by the Employer on 1 January 2003 or later, the
severance shall amount to 12 months salary as per date the day before
giving notice. The severance pay shall, unless otherwise agreed upon,
be paid every month starting the first month after the expiry of the
employment.
The Company reserves the right to terminate this contract at any time
without advance notice in the event of serious breach of contract,
including act of gross negligence or gross misconduct by the Employee
and willful failure to perform his duties with the Company.
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SECTION 8 CONFIDENTIALITY
The Employee shall not at any time other than in the course of his
duties without the previous consent in writing of the Company divulge
or make known to anyone any secrets or any technical, commercial,
financial or other information of a confidential nature unless such
information is already in the public domain relating to the business
or customers of the Group so as to the extent that all such
information has become a matter of public record. All papers and
documents used by the Employee in the course of his employment are and
will remain the property of the Company and will be delivered up to
the Company on the termination of the Employee's agreement with the
Company or any of its subsidiaries. This clause operates
independently of the existence of this Agreement.
SECTION 9 PATENT, SECRET PROCESSES AND IMPROVEMENTS
Any discovery or invention or secret process or improvement in
procedure made or discovered by the Employee while in the service of
the Company whether before or after the date of this Agreement in any
way affecting or relating to the business of the company or of any
subsidiary company or capable of being used or adapted for use therein
or in connection therewith shall forthwith be disclosed to the Company
and should belong to and be the absolute property of the Company.
SECTION 10 RESTRICTIVE COVENANT
The Employee hereby agrees during his employment not to solicit
business from any person, firm or company who is or at any time has
been a customer or done business with or attempt to persuade away from
the Company any person who is or has been employed by the Company.
SECTION 11 JURISDICTION
Any dispute about the Agreement shall be submitted to a Swedish
Arbitration court if the parties cannot come to a consensus as to the
interpretation of the conditions. The costs for the arbitration
proceedings shall be defrayed by the Company provided the Employee has
not unduly instigated the arbitration procedure. In such case, the
arbitrators shall determine the distribution of arbitration costs.
SECTION 12 OTHER EMPLOYMENT CONDITIONS
This contract supersedes all previous agreements between the Company
and the Employee. As regards employment conditions that are not
regulated in this contract the policies of the Company shall apply.
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Section 13 COUNTERPARTS
The agreement has been drawn up in duplicate of which the
parties have taken one copy each.
Signed /s/ Xxxx Xxxxxxx /s/ Xxxxx Xxxxxxxxx
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Xxxx Xxxxxxx Xxxxx Xxxxxxxxx
Deputy CEO
Amersham Pharmacia Biotech
23/11 '99 24/11-99
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