Document:

EX-10.1

 Exhibit 10.1 
  

 
 Dear Yoon, 
 Congratulations! We are excited to invite you to join us at Mattel, Inc. - where we inspire wonder in the next generation to shape a brighter tomorrow. 

Mattel HQ, Inc. (the “Company”) would like to extend you an offer of employment for the position of Senior Vice President and Corporate
Controller, contingent on the terms and conditions set forth in the General Information section below, with an anticipated hire date of April 15, 2019. This letter provides an overview of some of the compensation, benefit and employee program
offerings that would be available to you as an employee of the Company (which is part of the Mattel family of companies), should you choose to accept our offer. For purposes of this letter, “Company” will refer to Mattel HQ, Inc., or any
entity within the Mattel family of companies that may later become your employer. 
 SALARY 

Your annualized base salary will be $375,000, payable on a bi-weekly basis, less applicable federal and state
taxes and other required withholdings. As this is an exempt position, you are not eligible for overtime pay. Paychecks are issued every other Friday for the previous two weeks. For payroll purposes, our workweek is Monday through Sunday. 

BONUS - MATTEL INCENTIVE PLAN 
 Mattel,
Inc. (“Mattel”) provides the Mattel Incentive Plan (“MIP”), which is our way of rewarding our employees for achieving success. The MIP is an annual, discretionary, global bonus plan that provides employees the opportunity to
earn an award based on Mattel’s financial performance and individual contributions. You are eligible for a target MIP award of 50% of your eligible earnings, up to a maximum of 100%. The amount of your actual award, if any, depends on
Mattel’s financial results and your individual performance, and may be more or less than your target. Mattel must achieve a minimum financial performance goal before an award pool is generated and funded.

You are eligible for the 2019 Plan Year award, if you commence active employment in a Regular status (as defined in the Employee Handbook) on or before
October 1, 2019 and your award, if any, will be pro-rated based on your eligibility date. Awards are typically paid around the beginning of the second quarter of the following year. In order to earn an
award, you need to be continuously employed as a Regular employee of the Company in good standing through the payment date. 

  

					
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 SIGNING BONUS 

You will receive a signing bonus in the gross amount of $50,000, less applicable federal and state taxes and other required withholdings, typically
payable within 30 days following your hire date. If you choose to voluntarily terminate your employment with the Company, or you are discharged for “cause” as defined below, within one year following your hire date, you
agree to repay the amount in full within 30 days of your termination date. 
 In addition, you will be eligible for a signing bonus in the gross amount
of $50,000, less applicable federal and state taxes and other required withholdings, which will be earned on the one-year anniversary of your hire date, provided you have been continuously employed as a
regular, full time employee of the Company in good standing for one year following your hire date. If earned, this signing bonus will be paid in the pay period following the pay period in which it is earned. 

STOCK – EQUITY GRANTS 

New Hire Equity Grant 
 You will
receive a new hire equity grant with a value of $150,000 and a grant date of the last trading day of the month in which you commence employment at the Company. Such equity grant will be allocated as follows based on Mattel’s equity portfolio
approach: 
  

	●	 Restricted Stock Units: Restricted stock units (“RSUs”) with a grant value of $75,000. The grant
dollar value of the RSUs will be converted into a number of RSUs by dividing the grant dollar value by the closing stock price on the grant date. 

  

	 	–	 If you remain employed by the Company, the RSUs will vest over the three-year period following the grant date: 33% on
the first anniversary of the grant, 33% on the second anniversary of the grant, and 34% on the third anniversary of the grant. 

  

	 	–	 Upon vesting, you will receive shares of Mattel stock, less applicable federal and state taxes and other required
withholdings. 

  

	●	 Stock Options: A stock option grant to purchase shares of Mattel stock with a grant value of $75,000. The grant
dollar value of the stock options will be converted into a number of option shares by dividing the grant dollar value by the Black-Scholes fair value based on the closing stock price on the grant date. 

 

	 	–	 If you remain employed by the Company, the stock option grant will vest over the three-year period following the grant
date: 33% on the first anniversary of the grant, 33% on the second anniversary of the grant, and 34% on the third anniversary of the grant. 

  

	 	–	 The exercise price of the stock options will equal the closing price of Mattel stock on the grant date.

 Please note this is a summary of your new hire equity grants, and you will be required to accept online the equity grant
agreements that set forth the terms and conditions that govern your equity grants. 

  

					
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 Annual Equity Grant 

You will also be eligible to receive an annual equity grant beginning in 2019. Typically, annual equity grants are made around August 1 of each
year. Your annual equity grant recommendation may vary each year and will be submitted to the Compensation Committee of the Board of Directors for approval. Currently, Mattel’s equity portfolio approach encompasses two grants: RSUs and stock
options. 
 Long-Term Incentive Program Grant 

You will be eligible to participate in the next Long-Term Incentive Program (“LTIP”) cycle that will be established by the Compensation
Committee at a target level commensurate with your position, with a grant date anticipated to be August 1 . The LTIP provides senior executives the opportunity to earn shares of Mattel stock based on Mattel’s financial performance over the
performance cycle. 
 CAR ALLOWANCE 

As an executive, you will be eligible to receive a monthly automobile allowance in the amount of $1,400 for all your automobile expenses, payable on
a biweekly basis, less applicable federal and state taxes and other required withholdings. The car allowance is intended to cover all automobile expenses including mileage, gasoline, maintenance and insurance. 

DEFERRED COMPENSATION 
 As a U.S.
executive, you will be eligible to participate in the Mattel, Inc. Deferred Compensation & PIP Excess Plan. Under this plan, you may elect to defer a portion of your salary or annual MIP bonus, with various investment and payment options
available. 
 This is a summary of the plan. Additional information will be provided and available after your hire date. 

BENEFITS AND EMPLOYEE PROGRAMS 
 Mattel
offers a comprehensive benefits package and an extensive array of valuable programs and services designed to help our employees create a healthy lifestyle, build a financial future and enhance work/life integration. 

Health and Welfare 
 The
following is a brief outline of the health and welfare benefits in which you and your qualified dependents, if applicable, will be eligible to participate in as of your hire date, with the exception of short & long-term disability
insurance, which are available upon the successful completion of your first 90 days of employment. 
  

			
	 Medical, Prescription
	  	 Life Insurance

		
	 Dental
	  	 Business Travel Coverage

		
	 Vision
	  	 Disability

 You will receive information about your health and welfare benefits in your new hire packet. 

  

					
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 Retirement/401(k) 

Mattel provides eligible employees the opportunity to participate in a 401(k) retirement program that provides a variety of investment options. You will
be automatically enrolled in the Mattel, Inc. Personal Investment Plan (“PIP”), which is a 401(k) savings/retirement plan, if you are age 20 or older. The PIP offers both Mattel automatic and matching contributions as follows: 

 

	●	 Mattel Automatic Contributions: Mattel will make automatic contributions to your account ranging from 3% to 7% of your
salary, based on your age. 

  

	●	 Employee Contributions: The PlP allows for voluntary employee contributions up to 80% of your eligible compensation,
subject to IRS limitations. You will be initially enrolled at 2% of your eligible compensation on a pre-tax basis, which will be matched 50% by Mattel, to help you get started. This contribution will begin
automatically within about 45 days of your hire date. You will have the opportunity to opt-out of the 2% pre-tax contribution before the first deduction from your
paycheck and may make changes anytime. 

  

	●	 Mattel Matching Provision: Mattel will match your contributions 50% up to the first 6% of your eligible compensation.
If you elect an employee contribution of at least 6%, you will receive the maximum Mattel matching contribution. 

 You will receive
a PIP packet in the mail within two weeks of your eligibility date that provides additional details regarding your contribution and investment options. 
 Flexible Paid Time Off 
 Mattel recognizes the value of rest and relaxation and provides eligible exempt employees
flexible paid time (“Flexible PTO”) off for personal and leisure time away from work, following successful completion of the introductory period (usually on the 90th day of continuous
employment). While you do not have a specified amount of Flexible PTO, use of Flexible PTO is subject to manager approval. For leaves of absence, jury duty, and sick leave, different practices apply. 

COMPENSATION RECOVERY POLICY 
 As a
Section 16 Officer, you will be subject to Mattel’s Compensation Recovery Policy (“Clawback Policy”). The Clawback Policy permits our Compensation Committee to require forfeiture or reimbursement of certain cash and equity that
was paid, granted, or vested based upon the achievement of financial results that, when recalculated to include the impact of a material financial restatement, were not achieved, whether or not fraud or misconduct was involved. 

This is a summary of the policy, and the full policy will be provided to you after your hire date. 

GENERAL INFORMATION 
 This offer letter
is only a summary of your compensation, benefit and employee program offerings. More details and plan provisions are provided in our Summary Plan Descriptions, Plan Documents or program summaries, which govern and are subject to periodic
modification and revision. You will receive specific benefit information and enrollment instructions in the mail, and additional employee program information upon hire. 

  

					
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 This offer letter supersedes any prior communications you may have had with Company employees and/or
representatives, and reflects the entire understanding between you and the Company, regarding the terms of employment being offered to you. No Company employee and/or representative has the authority to make any promise related to this offer that is
not contained in this letter and, by signing below, you affirm that you have not signed this offer letter in reliance on any such promise. By signing below, you confirm that your negotiation, acceptance and/or performance of the terms of this offer
does not violate any contract or arrangement you may have with any third party. If the Company (in its sole discretion) determines that your confirmation may be inaccurate for any reason, it can be a basis for terminating your employment
“with cause” as defined below. By signing below, you agree to indemnify the Company and the Mattel family of companies against any claims that may be brought against such companies relating to any allegation that you violated any
contract or arrangement between you and such third party. 
 For purposes of this offer letter only, and without altering the at-will employment offered by the Company, “cause” shall mean the Company’s good faith belief that you: (i) neglected significant duties you were required to perform;
(ii) violated a material Company policy, rule or guideline; (iii) engaged in an act of dishonesty, fraud, misrepresentation or other act of moral turpitude; (iv) engaged in an act or omission in the course of your employment which
constitutes gross negligence; or (v) willfully failed to obey a lawful direction of the Board or the Company. 
 The terms of this letter do not
constitute a contract of employment for a definite term, and do not obligate the Company to employ you, or you to work for the Company, for any particular period of time. Your employment with the Company will be “at will,” and both you and
the Company have the right to terminate your employment at any time, for any or no reason, with or without prior notice or cause. The at-will relationship cannot be changed by any person, statement, act,
series of events, or pattern of conduct, but only by express, individual written employment agreement signed by Mattel’s Chief People Officer or Chief Executive Officer. For purposes of clarity, your participation in any stock option,
incentive, or benefit program will not be construed as (i) any assurance of continuing employment for any particular period of time, or (ii) a restriction on the Company’s right to terminate your employment with or without prior
notice or cause. 
 While we look forward to welcoming you to the Mattel family of companies, this offer is contingent upon satisfactory completion of
a background check, including verification of all information listed on your resume, employment application and any other supporting documentation provided, such as previous employers, academic institutions attended, and eligibility to work in the
United States. In addition, as a condition of your employment, you will need to sign an Employee Confidentiality and Inventions Agreement (in which you will be asked to disclose all prior inventions, if any, that you own), certify that you will, at
all times, comply with Mattel’s Code of Conduct, and complete a Conflict of Interest Questionnaire. If you would like to review any of these forms before you make your decision to accept our offer, your recruiter will be able to provide them.

 Also, please note that as an executive of the Company, and an Officer, you will be considered an Insider for purposes of Mattel’s Insider
Trading Policy and are subject to window period restrictions. This means that you are restricted to conducting transactions in Mattel stock ONLY during open window periods. Examples of such transactions include sales of shares underlying a stock
option 

  

					
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(including sales of shares to generate cash to pay the exercise price) and changes in elections in the Mattel stock fund of Mattel’s 401(k) plan. For more information about this Policy and
its restrictions, you can access and/or obtain a copy of the Policy on Mattel’s Code of Conduct website. 
 Should you choose to accept our offer,
you will receive a new hire packet containing information and forms that you will need to complete before starting with us. Please bring these completed forms with you, along with the documents noted in the New Hire Checklist, on your first day of
employment. 
 Yoon, we are sincerely pleased to extend this contingent offer of employment and look forward to hearing from you soon. If you accept
the terms of our offer as noted above, please sign below and return this letter in the enclosed envelope. If I can answer any questions, please do not hesitate to contact me. 

We hope you will join us in fulfilling our promise to create experiences that capture kids’ hearts, open their minds, and explore their potential
through play! 
 Sincerely, 
  

							
				
	 /s/ Rogelio Troconis
	 		 	         
	 	
	 Rogelio Troconis
	 		 		 	
	 Senior Director Human Resources
	 		 		 	
				
	 Agreed and accepted:
	 		 		 	
				
	 /s/ Yoon Hugh
	 		 		 	 April 15, 2019

	 Yoon Hugh
	 		 		 	 Date

  

					
	 Yoon Hugh
	  	Page 6 of 6Exhibit

Exhibit 10.1
POST-TERMINATION AGREEMENT

THIS POST-TERMINATION AGREEMENT (this "Agreement") is made on March 28, 2019 (the “Execution Date”) between PPG Industries Europe Sàrl, whose registered office is at Route de Gilly 32, 1180 Rolle, Switzerland (the “Company"), and Jean-Marie Greindl, of Lausanne, Switzerland (the "Employee") who has been employed with the Company pursuant to an employment agreement dated November 5, 2010 (the "Employment Agreement").
NOW, THEREFORE, the Company and the Employee (the “Parties”) agree as follows: 
Clause 1
Termination Date
		
	1.1
	The Company terminated the Employee’s Employment Agreement with effect as from April 30, 2019 (the "Planned Termination Date"). If the Employee becomes ill or has an accident (or for any other causes provided by Art. 336c par. of the Swiss Code of Obligations (“CO”), the Planned Termination Date shall be postponed according to Art. 336c par. 2 CO (the “Effective Termination Date”).

		
	1.2
	The Parties hereby acknowledge and recognize that this Agreement sets forth the terms and conditions upon which said employment relationship terminates. 

		
	1.3
	The Employee resigned from his officer position as Senior Vice President, Architectural Coatings and President PPG EMEA of PPG Industries, Inc., effective January 9, 2019 at the Company’s request and agrees to resign from any other officer or director position he may have within PPG Industries, Inc. or any of its subsidiaries or affiliates (collectively, the “Group”). In this respect, the Employee shall sign any necessary documents provided by the Company on behalf of the Group. 

		
	1.4
	The Employee shall be on a paid leave of absence (“Paid Leave”) from January 7, 2019 through and including the Effective Termination Date. During Paid Leave, the Employee is relieved of his day-to-day duties. However, should the Company exceptionally require his assistance during this period, the Employee is expected to be available. The Employee agrees that the Change in Control Employment Agreement between the Employee and PPG Industries, Inc. dated December 11, 2013 shall terminate upon the commencement of the Paid Leave.

Clause 2
Basis of Agreement
		
	2.1
	The Parties have entered into this Agreement to record and implement the terms upon which Employee's employment relationship with the Company terminates and to release the Company or any other entity of the Group, on the one hand, and the Employee, on the other hand, from any and all claims that the other may have for any reason whatsoever. The terms set out 

in this Agreement constitute the entire agreement between the Parties and are without admission of any liability on the part of each party. Both Parties acknowledge and agree that they do not hold any outstanding or other claim against each other and, in the case of the Employee, against any other entity of the Group.
		
	2.2
	The Company is entering into this Agreement for itself and as agent for and trustee of all Group companies and is duly authorized to do so. The Company guarantees, as obligor, the fulfilment by all Group companies of the obligations contained in this Agreement. 

Clause 3
Remuneration
		
	3.1
	The Employee will be paid his salary (the "Current Salary") less any deductions necessary to comply with or to meet any liability of the Company to pay or withhold taxes pursuant to applicable regulations and to pay or withhold all applicable social charges in the normal course up to and including the Effective Termination Date. 

		
	3.2
	In addition to his Current Salary, the Employee will be paid the following along with his final salary:

-    prorated 13th salary for 2019 (equal to an amount of CHF 15’000.01 if the employment relationship ends on the Planned Termination Date);
-    outstanding holiday days for 2019 (equal to an amount of CHF 12’461.55 if the employment relationship ends on the Planned Termination Date);
-    pro-rated target bonus for 2019 (equal to an amount of CHF 108’000.00 if the employment relationship ends on the Planned Termination Date).
The Employee’s 2018 bonus resulting on an amount of CHF 127’008.00 shall be paid in March 2019 in accordance with the Company’s existing policies.
All of these amounts are subject to usual tax and social charges within the limits of all applicable statutory and contractual regulations, including, but not limited to, the pensions fund regulation.
		
	3.3
	The Employee will be paid the indemnity foreseen under the Employment Agreement in the amount of EUR 1'604'666.-. This amount is subject to usual tax and social charges within the limits of all applicable statutory and contractual regulations, including, but not limited to, the pension fund regulation. 

The exchange rate to be used to calculate the social charges withheld from the above-mentioned amount in Euro will be the exchange rate of Euro to Swiss Franc (CHF) as on the date for processing the payment.
The payment of this amount is conditional upon receipt by the Company of the waiver provided to the Employee and attached hereto under Appendix A. The Employee must sign such 

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a waiver and deliver it to the Company no earlier than one month after the Effective Termination Date in order to receive such payment, which will be made within 10 business days of the Company’s receipt of the signed waiver.
		
	3.4
	The Company will reimburse the Employee for his final reasonable travel and other work-related expenses, in accordance with the Employment Agreement and the Company's internal regulations, incurred up to the Termination Date within twenty-one (21) days of receipt of satisfactory evidence of expenditure in accordance with the Company's current expense policy. Such evidence and claims for reimbursement must be made before the Planned Termination Date. 

		
	3.5
	Solely and strictly for the purposes of the awards issued to the Employee under the PPG Industries, Inc. Amended and Restated Omnibus Incentive Plan (the “LTI Agreements”), the termination of the Employee’s employment shall be deemed to be due to a job elimination for the purposes of and according to the above-mentioned LTI Agreements. The terms and conditions of such awards are as provided in the applicable Restricted Stock Unit Award Agreements, Nonqualified Stock Option Award Agreements, and TSR Share Agreements between employee and PPG Industries, Inc.

Clause 4
Work Certificate
The Company will provide the Employee with the work certificate attached hereto as Appendix B within 5 days following the Effective Termination Date.
Clause 5
Prohibition to compete and to solicit and non-disparagement
		
	5.1
	The Employee had free access to the clients and to the manufacturing and business secrets of the Company and the Group and he agrees to refrain from any activity in EMEA that competes with the business of the Company and/or the Group, not to disparage the Company and/or the Group and not to solicit employees of the Company and/or the Group. 

For the purposes of this Agreement, competing activity shall mean manufacturing, distributing and/or selling coatings in the EMEA region, it being understood that the Employee has been employed in said field and in said geographical area immediately prior to the Termination Date (the "Competing Activity"). The prohibition to compete and to solicit will last until the first anniversary of the Effective Termination Date (the “Protected Period”). 
		
	5.2
	Under the prohibition to compete and to solicit, the Employee agrees, in particular:

		
	–
	not to participate, directly or indirectly, financially or otherwise, in any Competing Activity or in any enterprise or business which develops, manufactures, offers, or distributes products, or provides services similar to those of the Competing Activity; 

		
	–
	not to be active, fully or partially, for the benefit of such an enterprise, be it as an employee, consultant, representative, adviser or otherwise;

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–not to directly or indirectly establish such an enterprise;
–not to solicit directly or indirectly the Company's and/or the Group's customers;
		
	–
	not to directly or indirectly solicit or employ employees of the Company and/or of the Group or in any other way enter into an agreement with such employees for the benefit of himself or any third party in order to exercise any Competing Activity.

		
	5.3
	The Employee is aware and acknowledges that a violation of the obligations set out in this clause may seriously damage the Company and/or the Group.

If the Employee violates the obligations not to disparage, compete or solicit, in addition to seeking monetary damages or relief, the Company has the right to seek an injunction or other equitable relief issued by a court of law prohibiting activities which are contrary to his non-disparagement, non-competition and non-solicitation obligations.
		
	5.4
	As compensation for the Employee's obligations not to disparage, compete or solicit set forth in the present clause, the Company shall provide for the continued vesting of Employee’s awards under the LTI Agreements (i.e. nonqualified stock options, restricted stock units [RSU], total shareholder return [TSR]) in accordance with the terms of such LTI Agreements and in accordance with clause 3.5, including after the expiry of the abovementioned period of prohibition to compete and to solicit (the "Compensation"). For the sake of clarity and provided that the Employee fully complies with the provisions set out in this clause 5, the Compensation to be received by the Employee after having vested all of employee’s awards shall amount to no less than USD 438’145.91.

		
	5.5
	The Employee agrees that he will not make any disparaging statements about the Company or any Group company. A disparaging statement is any communication which, if publicized to another, would be reasonably expected to cause or tend to cause the recipient of the communication to question the business condition, integrity, competence, good character or product quality of the person or entity to whom or to which the communication relates.

		
	5.6
	The Company agrees that it will not make any disparaging statements about the Employee. A disparaging statement is any communication which, if publicized to another, would reasonably be expected to cause or tend to cause the recipient of the communication to question the integrity, competence, performance, ethics, quality or good character of the person.

In the event of violation of this non-disparagement clause, the Company will be required to pay a contractual penalty in the amount of CHF 45’000.00 for each case of breach with a maximum amount equal to CHF 120’000.00, without prejudice to the Employee's right to claim further damages.
Clause 6
Insurances
		
	6.1
	Professional and non-professional accident insurance coverage provided by the Company and/or the Group will end 31 days after the Termination Date. At the Employee’s expenses, the Employee can extend the non-professional insurance coverage for a maximum of 180 days after the Termination Date.

4

		
	6.2
	The loss of earnings insurance in case of illness provided by the Company and/or the Group will cease on the Termination Date. Under certain conditions and within a period of 90 days after the Termination Date, Employee has the possibility to extend the coverage of said insurance by signing an individual agreement with the Company’s insurance company. 

Clause 7
Communication related to the end of the Employment Agreement and employment relationship

The Employee acknowledges and agrees that for legal reasons, this Agreement and the termination of his employment relationship from the Company and the Group will be disclosed by the Company. The Company shall provide Employee notice of and a copy of any such disclosure prior to such release. Except as set forth in the preceding sentence and except as required by law or applicable stock exchange regulation, the Parties shall not disclose any other details of the Employee’s departure from the Company.
Clause 8
Return of Property

		
	8.1
	The Employee undertakes to return to the Company, on the Execution Date, the credit cards, keys, all computer disks, laptop computer, all documents and copies together with all other property belonging to the Company or the Group or relating to their business in his control, except for such property as the Parties agree in writing that the Employee may retain.

		
	8.2
	The Company agrees that the Employee retains the mobile telephone put at his disposal and promises to assist the Employee with the transfer of the phone line and number from the current operator engaged by the Company to the operator of the choice of the Employee.

		
	8.3
	The Company shall not oppose to the Employee acquiring the Company car attributed to him on or shortly after the Effective Termination Date.

Clause 9
Additional benefits to the Employee by virtue of this Agreement

		
	9.1
	The Company will pay the registration fees and tuition costs related to the enrolling of the Employee in the INSEAD In-Board training course for an amount equal to EUR 17’950.00 ex VAT. The Employee will send the invoice to the Company.

		
	9.2
	The Company will reimburse the fees arising from the professional tax consultancy services in Switzerland for the fiscal years 2018 and 2019.

		
	9.3
	The Company shall reimburse the Employee for all Legal Expenses incurred by his Swiss counsels directly relating to their advice, negotiation and drafting of this Agreement. The Legal Expenses incurred by Swiss Counsels are estimated to be of 25’000.00 CHF.

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	9.4
	All amounts referred above shall be respectively paid and reimbursed promptly by the Company to the Employee upon receipt of the corresponding invoices and proof of services justification, when required.

Clause 10
Intellectual Property Rights

All intellectual property rights, especially copyright in work results, which the Employee created solely or jointly with others while performing his tasks and activities as Employee of the Company and/or the Group and fulfilling his duties under the Employment Agreement belong exclusively to the Company and/or the Group and are entirely assigned by the Employee to the Company or the appropriate Group company, as the case may be, upon signature of this Agreement to the extent they have not already been otherwise so assigned. To the extent that such an assignment is not possible by law, the Employee waives his rights to exercise any remaining intellectual property rights, especially the right to claim possible moral rights ("Urheberpersönlichkeitsrechte"). All possible entitlements of the Employee to compensation for the intellectual property rights assigned to the Company and/or the Group are fully covered by the Company’s payments under this Agreement. 
Clause 11
Confidentiality
		
	11.1
	The Employee accepts and agrees that all of the express and implied contractual duties relating to confidential information and business secrecy continue after the end of the employment relationship into perpetuity. 

		
	11.2
	The Employee agrees that he remains bound by a duty not to, and hereby undertakes not to, divulge to any person, firm or company or use for his own benefit or the benefit of any person, firm or company any trade secret or information of a private, secret or confidential nature concerning the business, finances or affairs of the Company or any Group company or any of their respective customers, clients or suppliers (including but not limited to terms of contracts or arrangements, existing and potential projects, accounts and all non-public financial information, information regarding customers, clients or suppliers, disputes, business development, technology or product development, strategies and/or marketing programs and plans) which have or may have come to his knowledge during the time of his employment with the Company or any Group company.

Clause 12
Trading of shares and exercise of stock options
		
	12.1
	The Employee is entirely free to trade shares of any Group company on the market.

		
	12.2
	The Employee is entirely free to exercise nonqualified stock options already vested at the Execution Date.

Clause 13
Change of address

6

The Employee must inform the Company of his changes of address during a two-year period. In case of departure from Switzerland, the Employee must inform the Company accordingly.
Clause 14
Full and Final Settlement / No Knowledge of Others Claims
		
	14.1
	This agreement has effect for the purpose of settling and compromising without any admission of liability on the part of the Company or any Group company by means of full and final settlement of all claims in all jurisdictions under contract, tort, statute or otherwise which the Employee has or may have at the Execution Date or which may arise in the future, and whether known or not, against the Company or any Group company and their officers, shareholders, and/or employees arising out of, in connection with or as a consequence of his employment and/or its termination.

		
	14.2
	The Employee confirms that he is aware of no other claim or grounds to make a claim against the Company or any Group company or companies in relation to any other matters howsoever arising.

Clause 15
Compliance with Statutory Provisions; Amendments
		
	15.1
	This Agreement satisfies the conditions regulating termination and settlement agreements under Swiss law as are relevant.

		
	15.2
	Any amendments or additions to this Agreement must be in writing and signed by both parties.

Clause 16
Governing Law and Jurisdiction
This Agreement is governed by the law of Switzerland. Any dispute is subject to the exclusive jurisdiction of the courts and tribunals of Rolle.
Clause 17
Severability
If any clause or provision of this Agreement is held invalid, void or unenforceable, such determination shall not affect, in any respect, the validity of any other clause or provision of this Agreement.

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SIGNED by Jonathan Edwards
Duly authorised for and on behalf of PPG Industries Europe Sàrl:
/s/ Jonathan Edwards

Rolle, 28/3/2019    (date)                  

Name                              

Position
		
	 
	 

Jean-Marie Greindl
/s/ Jean-Marie Greindl

Rolle, 28/3/2019    (date) 

Referenced Appendix

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