CURRENT EMPLOYMENT. AS USED HEREIN, "WAGES FROM CURRENT
EMPLOYMENT" ARE ALL INCOME (IN CASH, CASH EQUIVALENT, OR BENEFIT IN KIND) THAT
IS SUBJECT TO WAGE TAX WITHHOLDING IN THE NETHERLANDS.
(II)
THE EMPLOYEE SHALL RECEIVE AN ALLOWANCE
FOR EXTRA-TERRITORIAL COSTS FROM THE COMPANY, EQUAL TO 30/70 OF THE ADJUSTED
WAGES FROM CURRENT EMPLOYMENT (THE "ALLOWANCE").
(III)
THE EMPLOYEE IS AWARE OF THE FACT THAT, IN
VIEW OF THE APPLICABLE REGULATIONS, AN ADJUSTMENT TO THE REMUNERATION AGREED
UPON UNDER THIS SECTION (C) MAY AFFECT ALL CONSIDERATIONS AND BENEFITS THAT ARE
LINKED TO WAGES FROM CURRENT EMPLOYMENT, SUCH AS PENSION RIGHTS AND SOCIAL
SECURITY BENEFITS.
(IV)
THE INTENTION OF THIS PROVISION IS TO
AUTOMATICALLY APPLY SECTION 9 OF THE 1965 PAYROLL TAX IMPLEMENTATION DECREE TO
ALL ELEMENTS OF WAGES FROM CURRENT EMPLOYMENT THAT CAN BENEFIT FROM THIS SPECIAL
PROVISION.
(V)
AS A RESULT OF THE ADJUSTMENTS DESCRIBED IN
CLAUSES (I) AND (II), THE EMPLOYEE'S ADJUSTED BASE SALARY SHALL EQUAL 70/100 OF
THE PREVIOUSLY AGREED BASE SALARY (THE "ADJUSTED BASE SALARY"). THE EMPLOYEE
HEREBY CONSENTS TO THIS ADJUSTMENT AND AGREES THAT IT SHALL NOT CONSTITUTE A
BREACH OF THIS AMENDED AGREEMENT OR GIVE RISE TO ANY RIGHTS ON THE PART OF THE
EMPLOYEE. FOLLOWING ANY ADJUSTMENT HEREUNDER, ALL REFERENCES IN THIS AMENDED
AGREEMENT TO BASE SALARY SHALL BE DEEMED TO REFER TO THE EMPLOYEE'S TOTAL BASE
COMPENSATION, WHICH SHALL EQUAL THE SUM OF THE ADJUSTED BASE SALARY AND THE
ALLOWANCE ASSOCIATED THEREWITH.
(D)
DURING THE EMPLOYMENT PERIOD, THE EMPLOYEE SHALL BE ENTITLED TO THE
FOLLOWING BENEFITS AND PERQUISITES, TO THE EXTENT PROVIDED BY THE COMPANY TO
EMPLOYEES OF THE COMPANY GENERALLY:
(I)
MEDICAL (INCLUDING FOR THE EMPLOYEE'S
SPOUSE AND CHILDREN UNDER THE AGE OF 21, PROVIDING FOR INSURANCE COVERAGE IN THE
UNITED STATES) SUBJECT TO CUSTOMARY AND REASONABLE LIMITS, CO-PAYMENTS,
DEDUCTIBLES, EMPLOYEE CONTRIBUTIONS AND EXCLUSIONS;
(II)
AT EMPLOYEE'S ELECTION, EITHER A CAR
PROVIDED BY THE COMPANY SUITABLE TO EMPLOYEE'S POSITION (CATEGORY C) OR THE
EQUIVALENT COST OF SUCH A CAR TO THE COMPANY IN CASH;
3
(III)
ANY OTHER BENEFITS AND PERQUISITES GENERALLY
PROVIDED TO OTHER SIMILARLY SENIOR STAFF OF THE COMPANY, FROM TIME TO TIME,
INCLUDING WITHOUT LIMITATION ANY BENEFITS PROVIDED TO SIMILARLY SENIOR EMPLOYEES
WHO WERE RECRUITED FROM OUTSIDE THE NETHERLANDS; PROVIDED THAT THE EMPLOYEE
SHALL NOT BE ENTITLED TO PARTICIPATE IN ANY SUCH PLAN PROVIDING FOR BENEFITS IN
THE NATURE OF SEVERANCE PAY; AND
(IV)
PARTICIPATION IN THE NEW SKIES SATELLITES N.V.
HEADQUARTERS LOCATION PREMIUM (HQLP) PLAN, AS SUCH PLAN MAY BE AMENDED BY THE
COMPANY FROM TIME TO TIME.
(E)
DURING THE EMPLOYMENT PERIOD, THE EMPLOYEE SHALL BE ENTITLED TO PAID
VACATION OF TWENTY-FIVE DAYS PER YEAR. ACCRUAL RIGHTS AND THE ABILITY TO CARRY
FORWARD VACATION TIME, IF ANY, SHALL BE SUBJECT TO THE COMPANY'S VACATION POLICY
APPLICABLE GENERALLY TO EMPLOYEES OF THE COMPANY AS IN EFFECT FROM TIME TO TIME.
(F)
THE COMPANY SHALL PROMPTLY REIMBURSE THE EMPLOYEE FOR ALL REASONABLE
BUSINESS EXPENSES UPON THE PRESENTATION OF STATEMENTS OF SUCH EXPENSES IN
ACCORDANCE WITH THE COMPANY'S POLICIES