April 25, 2024 Dr. Eugene Scherbakov Re: Transition AgreementTransition Agreement • April 30th, 2024 • Ipg Photonics Corp • Semiconductors & related devices • Massachusetts
This letter agreement follows our conversations regarding the transition from your employment with IPG Laser GmbH & Co. KG (“Laser”) and IPG Photonics Corporation (“Photonics”) and your anticipated continuing Advisor and Board service to Photonics. Laser and Photonics very much appreciate your years of service and leadership and wish to make this transition as smooth, productive and seamless as possible. In that spirit, you, Laser and Photonics agree as follows (the “Agreement”).
EMPLOYMENT AGREEMENTEmployment Agreement • April 30th, 2024 • Ipg Photonics Corp • Semiconductors & related devices • Massachusetts
This Employment Agreement (“Agreement”), executed on this 25th day of April 2024 (the “Effective Date”), by and between IPG Photonics Corporation, a Delaware corporation having its principal executive office at 377 Simarano Drive, Marlborough, MA 01540 (the “Corporation”), and Mark Gitin (“Executive”). The Corporation and Executive are referred to jointly below as the “Parties.”
ADVISOR AGREEMENTAdvisor Agreement • April 30th, 2024 • Ipg Photonics Corp • Semiconductors & related devices
THIS AGREEMENT is between Eugene Scherbakov (“Advisor”) and IPG Photonics Corporation (the “Company” or “Photonics”) (each a “Party” and collectively the “Parties”). Capitalized but undefined terms in this Agreement are defined in the Transition Agreement between Advisor and the Company. This Advisor Agreement is conditioned on the effectiveness of the Transition Agreement between the Advisor and the Company. Photonics and Advisor hereby further agree as follows:
