ADDENDUM III TO THE EMPLOYMENT CONTRACT
Exhibit 10.1
ADDENDUM III TO THE EMPLOYMENT CONTRACT
Undersigned:
| 1. | Projecta B.V., domiciled in Weert, the Netherlands (hereafter: Projecta) |
| 2. | Xx X. xx Xxxxx, residing in Eindhoven, the Netherlands (hereafter: the Employee) |
Considering
| 1. | Projecta and the Employee have reached an employment agreement signed on September 23d 1996, amended on I: September 23, 1996 and II: June 18, 2002 , which is still in force. |
| 2. | Projecta wishes to adjust the remuneration package of the Employee. |
| a. |
The base Gross monthly salary will increase as from April 1st 2007 from € 7.372,— to € 7.901,—; |
| b. |
On July 1st 2007, the Gross monthly salary will furthermore follow the CAO increase of 1,25% to € 8.000,—gross per month; |
| c. |
Starting April 1st 2007, Employee will receive yearly a gross pension compensation for an amount of € 9.430,—. This amount is based on – and will follow—the maximum premium to be paid to a regular employee according to CAO at Projecta. Employee himself remains responsible for the settlement of a personal pension implementation agreement and the appointment of a pension scheme administrator; and |
| d. |
Starting April 1st 2007, Employee will receive yearly a gross compensation for a disability insurance for an amount of € 5.500,— (fixed). Employee himself remains responsible for the settlement with an insurance company. |
| 3. | This agreement is going into force per 1 April 2007, for an indefinite period. |
| 4. | Dutch law, to the exclusion of all other systems governs this agreement. |
Drawn up and signed in triplicate,
| Warsaw, IN USA | ||||
| place and date | ||||
| /s/ Xxxxxxx Xxxxxx |
/s/ Xxxxx xx Xxxxx | |||
| Representing Projecta B.V. | The Employee | |||
| Xx. X. Xxxxxx | Xx X. xx Xxxxx | |||
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