EMPLOYMENT AGREEMENT
STAAR
Surgical AG is entering into an Employment Contract as per Article 319ff of the
Swiss Obligation Law with
Xx.
Xxxx Xxxxxx Blickensdoerfer
Born on
16 January 1965 in Germany:
1. Position
and Tasks in the Company
1.1 Position
The Employee is employed as Vice
President Sales & Marketing.
1.2 Tasks
The main tasks of the Employee are
mentioned in Addendum A).
2. Start
and Duration of the Employment
2.1 Start
The beginning of the Employment
relationship is on January 1st, 2005.
2.2 Time of
Probation
There is no probation period agreed
upon.
2.3 Duration
The employment relationship is entered
into for an undetermined period of time.
3. Salary
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3.1
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Gross
Salary
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The
Employee will receive an annual basic gross salary of CHF 195,000.00 paid
over 12 months, of CHF 16250.000 with a bonus on the achievement of preset
objectives of 25% of this salary and 35,000 options at the price of the
day of the start of employment with STAAR Surgical
AG.
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Supplementary
Payments
The
Employee is, according to Swiss and Bernese law, entitled to child support
payments. All changes concerning the above payments have to be communicated o
the Employer within seven days.
3.2 Deductions
The following will be deducted,
according to law and regulations, from the gross salary:
a) AHV/IV/EO/ALV
b) BVG
c) Non-professional
accident insurance (SUVA)
d) Tax
on the source
e) Insurance
for loss of earnings in case of sickness
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3.3
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Special
Compensations
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If
the Employer grants special compensations (gratification, service awards,
etc.) it represents voluntary performance by the Employer, which, even
when paid several times, does not give the right to a
claim.
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4. Vacation
The Employee is entitled to 23 working
days per calendar year.
5. Restraint
of Trade, Loyalty and Confidentiality.
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5.1
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Manufacturing and business
secrecy.
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5.1.1.
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The
duty to observe the manufacturing and business serest is in effect during
the whole employment relationship and continues after termination of the
employment relationship.
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5.1.2
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A
violation of the imposed secrecy will result in an immediate termination
of the employment relationship.
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5.1.2
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In
the case of violation of the imposed secrecy, the Employer may file a
claim for full damages.
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6. Notice
of Termination
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1.
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Notice
can be given by both parties with a notice period of six
months. Should the employment be terminated for reasons other
than cause, you will receive 6 months in lieu of notice. If
STAAR Surgical AG or its successors terminate the employment relationship
for reasons other than cause, the employee is eligible to receive bonus
(subject to objectives) pro-rated for the period of employment up to and
including the 6 months of notice
period.
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2.
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The
notice period is extended to 1 year (12 months) under the following
conditions:
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If
the company is acquired by a third partner and the job is eliminated or
materially modified in scope of responsibility, the employee will receive
compensation during 1 year (12 months) from the date of
notice.
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By
presenting valid reasons in writing according to Art. 337ff of the OR, the
Employer as well as the Employee may terminate the employment without
notice.
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7.
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Special
agreements
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7.1
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During
the first year of employment a bonus of 10% of the 25% bonus is guaranteed
and will be paid in the month relocation is completed to Nidau
area.
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7.2
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The
employer will cover hotel costs and traveling expenses during the first 3
months, while location to Biel is not
possible.
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7.3
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The
employer will cover the costs of the rent of the apartment of the employee
from April to June 2005, while relocation to Biel is
organized.
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7.4
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The
employer will pay for all reasonable relocation costs to Biel, up to a
maximum amount of CHF 10,000.00
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8. Reservation
of Statutory Regulations
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8.1
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If
the above employment contract does not state any other regulations, the
statutory regulations are valid.
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9. Place
of Jurisdiction
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Unless
otherwise and stringently prescribed by law, the place of jurisdiction is
the place of the Employer.
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Nidau,
24 November 2004
/s/Xxxxx Xxxxxx
The
Employer:
STAAR
Surgical AG
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Nidau,
16 December 2004
/s/H.M. Blickensdoerfer
The
Employee
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