EXHIBIT 10.8
CONTRACT between LHS Holding Germany GmbH
and Xxxx Xxxxxxx
JOB DEFINITION
Responsibility for all LHS operations in Europe and Asia.
Member of the LHS board of directors. This agreement is not linked to the
aforementioned membership.
Stationed in Frankfurt, Germany.
The intention is, to move to the US after 2-3 years and manage the entire LHS
operations.
CONDITIONS
Salary: 650 TDM whereof:
500 TDM fixed
150 TDM bonus (100%)
Bonus: less than 80% - 0
80% - 75 TDM
90% - 112,5 TDM
100% - 150 TDM
110% - 275 TDM
120% - 400 TDM
For the first 6 months of employment the bonus will be fixed and paied at the
100% target.
VACATION: 30 days (6 weeks)
NOTICE FOR LEAVE: 12 months
START DATE: If possible 1st of August 96 or at a later date (as
soon as Xxxx Xxxxxxx is released from Cap
Programator), however not later than December 1,
1996.
OPTIONS
Options included for a nominal value of 2 Mio. USD (appr. 2% of today's total
numbers of shares) resulting in 400.000 options at $5 each. The options can be
exercised between one and five years after employment starts according to the
LHS stock option plan.
EXPENSES
During the time Xxxx Xxxxxxx lives in Sweden, cost for travel to and from
Frankfurt will be payed by LHS, but only for a maximum of 6 months.
1-2 travels per week will be normal. Whenever possible to plan ahead they will
be done in coach. To go to and from the airport LHS will pay taxi, or 0,75
DM/km and parking costs. LHS will also pay for an overnight appartment in
Frankfurt. If Xxxx Xxxxxxx moves to Germany or the US, LHS will pay 75 TDM as
relocation costs, as a one time payment and provide Xxxx Xxxxxxx with a company
car, equal to a BMW 528.
OTHER CONDITIONS
LHS is willing to pay for professional help in order to find the most profitable
solution concerning Xxxx Xxxxxxx'x tax situation. LHS is also willing to make
any necessary legal arrangement in order to minimize Xxxx Xxxxxxx'x income
taxes.
This contract will be used to formulate a standard contract by representatives
of LHS and Xxxx Xxxxxxx as soon as possible, which will replace this contract.
Legal costs will be taken over by LHS.
Dietzenbach, 21st May 1996
/s/ Xxxxxxx Xxxxxxxxxx /s/ Xxxx Xxxxxxx
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Xxxxxxx Xxxxxxxxxx Xxxx Xxxxxxx