EXHIBIT 4.14
March 24th, 2005
FINAL SETTLEMENT
Dear Xxxxxxx,
This document entails any and all arrangements we mutually agree upon regarding
your resignation as Treasurer of Xxxxx Xxxxxx International Finance B.V.
1. We confirm you have notified us, we have received and accepted your verbal
resignation and in light of the legal notice period of 1 month your last day of
employment will be April 30th, 2005.
2. We settle according to the agreement as set out below under the condition
that you will do your best to provide a proper handover of documentation and
experience to the satisfaction of your manager. We will both strive to finalize
handover around April 11th after which you could be liberated from your duties.
3. We have made you sufficiently aware of any and all consequences which could
arise out of your resignation in relation to i.e. applying for social security
(WW) by signing this agreement you acknowledge to have been informed by us and
are resigning on your own accord.
You acknowledge by signing this document to have been enabled to consult all
legal and tax aspects of this agreement.
As part of the settlement towards termination of the employment agreement and
subsequent handover, Xxxxx Xxxxxx shall xxxxx you a payment amounting to (euro)
50,000. -- Gross, which is deemed to include a.o. outstanding EP bonus (approx.
(euro) 20,000.-) and REmaining holidays (17). The payment shall be executed May
14th 2005, after termination of the employment agreement, in conformity with the
tax regulations.
As per May 1st 2004, Xxxxx Xxxxxx shall provide you with a final settlement
review (in Dutch "eindafrekening") of the finalisation of the employment
agreement, including pro rata holiday allowance.
You will remain to observe confidentiality with respect to Xxxxx Xxxxxx and its
organisation, based on the provisions in your employment agreement. Xxxxx Xxxxxx
shall not invoke its rights under the non-competition clause.
Both parties will both internally and externally communicate in a professional
and positive attitude about each other. Xxxxx Xxxxxx will provide you, if you so
desire, with positive references.
Parties hereby explicitly waive the rights to dissolute the agreement based on
vitiated consent.
Parties mutually agree, after fulfilment of the conditions set forth above, any
rights based upon or rising from the employment agreement are hereby waived and
that in the future, none of the parties will hold the other liable on any
grounds whatsoever and/or will institute any claims with respect to the
employment agreement and/or the termination thereof, either in respect of
compensation or indemnification, or otherwise.
This agreement is construed in accordance and shall be governed by Dutch law.
The parties consider this agreement to be a "vaststellingsovereenkomst" within
the meaning of article 7:900 Dutch Civil Code
/s/ XXXX XXXXXX /s/ XXXXXXX XXXXXXXX
----------------------------- --------------------
Xxxxx Xxxxxx International Finance B.V. Xxxxxxx Xxxxxxxx
Xxxx Xxxxxx MD
