Document:

Exhibit

Executive Retention Agreement
THIS EXECUTIVE RETENTION AGREEMENT between Cimpress N.V. (the “Company”) and Ashley Hubka (the “Executive”) is made as of February 16, 2016 (the “Effective Date”).  Except where the context otherwise requires, the term “Company” includes each of Cimpress N.V. and any of its present or future parent or subsidiary corporations.
WHEREAS, the Company desires to retain the services of the Executive and, in order to do so, is entering into this Agreement in order to provide compensation to the Executive in the event the Executive’s employment with the Company is terminated under certain circumstances; 
WHEREAS, the Company also recognizes that the possibility of a change in control of the Company exists and that such possibility, and the uncertainty and questions that it may raise among key personnel, may deter key potential personnel from joining the Company and may result in the departure or distraction of key personnel to the detriment of the Company and its shareholders, and
WHEREAS, the Company’s Supervisory Board (the “Supervisory Board”) has determined that appropriate steps should be taken to retain the Executive and to reinforce and encourage the continued employment and dedication of the Company’s key personnel without distraction from the possibility of a change in control of the Company and related events and circumstances.
NOW, THEREFORE, as an inducement for and in consideration of the Executive remaining in the Company’s employ, the Company agrees that the Executive shall receive the benefits set forth herein in the event of a Change in Control and the severance and other benefits set forth in this Agreement in the event the Executive’s employment with the Company is terminated under the circumstances described below.
1.    Key Definitions.
See Annex A for a list of certain defined terms used herein.
2.    Term of Agreement.  This Agreement, and all rights and obligations of the parties hereunder, takes effect upon the Effective Date and terminates upon the fulfillment by the Company of its obligations under this Agreement following a termination of the Executive’s employment (the “Term”).
3.    Employment Status; Termination of Employment.
3.1    Not an Employment Contract.  The Executive acknowledges that this Agreement does not constitute a contract of employment or impose on the Company any obligation to retain the Executive as an employee and that this Agreement does not prevent the Executive from terminating employment at any time.  
3.2    Termination of Employment.     
(a)    Any termination of the Executive’s employment by the Company or by the Executive (other than due to the death of the Executive) shall be communicated by a written notice to the other party hereto (the “Notice of Termination”), given in accordance with Section 7.  Any Notice of Termination shall: 
(i)    indicate the specific termination provision (if any) of this Agreement relied upon by the party giving such notice, 
(ii)    to the extent applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated, and 
(iii)    specify the Date of Termination (as defined below).  
(b)    The effective date of an employment termination (the “Date of Termination”) shall be the close of business on the date specified in the Notice of Termination (which date may not be less than 15 days or more than 120 days after the date of delivery of such Notice of Termination), in the case of a termination other than one due to the Executive’s death, or the date of the Executive’s death, as the case may be; provided, however that if the Executive is resigning the Executive’s employment for other than Good Reason, the Company may elect to accept such resignation prior to the date specified in the Executive’s notice and the Date of Termination shall be the date the Company notifies the Executive of such 

acceptance.  In the event the Company fails to satisfy the requirements of Section 3.2(a) regarding a Notice of Termination, the purported termination of the Executive’s employment pursuant to such Notice of Termination shall not be effective for purposes of this Agreement.
(c)    The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting any such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder.
(d)    Any Notice of Termination for Cause given by the Company must be given within 30 days of the occurrence of the event(s) or circumstance(s), which constitute(s) Cause.  Prior to any Notice of Termination for Cause being given (and prior to any termination for Cause being effective), the Executive shall be entitled to a hearing before the Supervisory Board at which the Executive may, at the Executive’s election, be represented by counsel and at which the Executive shall have a reasonable opportunity to be heard.  Such hearing shall be held on not less than 30 days prior written notice to the Executive stating the Supervisory Board’s intention to terminate the Executive for Cause and stating in detail the particular event(s) or circumstance(s) which the Supervisory Board believes constitutes Cause for termination.  Any such Notice of Termination for Cause must be approved by an affirmative vote of two-thirds of the members of the Supervisory Board.
(e)    Any Notice of Termination for Good Reason given by the Executive must be given within 90 days of the occurrence of the event(s) or circumstance(s), which constitute(s) Good Reason.
4.    Benefits to Executive.
4.1    Acceleration of Awards.  If the Change in Control Date occurs prior to the Date of Termination, then, effective upon the Change in Control Date, 
(a)    each outstanding option to purchase shares of the Company held by the Executive (to the extent not then currently exercisable) shall become immediately exercisable in full and shares of the Company received upon exercise of any options will no longer be subject to any applicable right of repurchase or first refusal by the Company,
(b)    each outstanding restricted stock award held by the Executive shall be deemed to be fully vested and such vested shares will no longer be subject to any applicable right of repurchase or first refusal by the Company, 
(c)    each outstanding restricted share unit award held by the Executive shall be deemed to be fully vested and such vested shares shall be distributed to the Executive as soon as practicable thereafter, 
(d)    notwithstanding any provision in any applicable option agreement to the contrary, each such option shall continue to be exercisable by the Executive for a period of 12 months following the Date of Termination if the Executive is terminated without Cause or resigns for Good Reason following the Change in Control Date, but in no event may the option be exercised after the original expiration date of the option, 
(e)    the performance criteria set forth in any Multi-Year Award shall be deemed satisfied at the mid-range target level for the Performance Period in which the Change in Control occurs and for each subsequent Performance Period that is part of the award under such Multi-Year Award, and the Executive shall be entitled to receive the full mid-range target bonus for each such Performance Period on the Change in Control Payment Date, and
(f)    the performance criteria set forth in any Annual Award shall be deemed satisfied at 100% of the target levels, and the Executive shall be entitled to receive, on the Change in Control Payment Date, the product of (i) 100% of the target bonus for the Performance Period in which the Change in Control occurs and (ii) the Pro-Rating Fraction. 
4.2    Compensation.  If the Executive’s employment with the Company terminates during the Term, the Executive shall be entitled to the following benefits:
(a)    Termination Without Cause or Resignation for Good Reason Prior to the Change in Control Date.  If the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or Death) or the Executive resigns for Good Reason prior to the Change in Control Date, then the Executive shall be entitled to the following benefits:    

(i)    the Company shall pay to the Executive the following amounts:
(1)    in a lump sum in cash in the next regularly scheduled pay cycle following the Date of Termination, the sum of: 
(A)  the Executive’s unpaid base salary through the Date of Termination, 
(B)  if quarterly bonuses are then being paid, the product of (i) the greater of any quarterly bonus paid or payable (including any bonus or portion thereof which has been earned but deferred or which the Executive forewent) for the most recently completed fiscal quarter or any quarterly bonus payable for the then current fiscal quarter and (ii) a fraction, the numerator of which is the number of days in the current fiscal quarter through the Date of Termination, and the denominator of which is 90, and 
(C)  the amount of any compensation previously deferred by the Executive (together with any accrued interest or earnings thereon) and any accrued vacation pay, 
in each case to the extent not previously paid (the sum of the amounts described in clauses (A), (B) and (C) shall be hereinafter referred to as the “Accrued Obligations”); 
(2)    in a lump sum in cash in the next regularly scheduled pay cycle following the Date of Termination, an amount equal to the sum of :
(A)  100% of the greater of (i) the Executive’s target annual bonus (including the sum of any target annual bonus under any Annual Award or other agreement or arrangement and any target quarterly bonuses, if applicable) for the then current fiscal year multiplied by the average actual annual bonus payout percentage for the three fiscal year period ending prior to the Date of Termination; provided however that, if the Executive has been employed by the Company for more than two but less than three full fiscal years prior to the Date of Termination, the average actual annual bonus payout percentage for the two fiscal year period ending prior to the Date of Termination will be used for calculating the product in this clause (i) instead of the average actual annual bonus payout percentage for the three fiscal year period; and provided further that if the Executive has been employed by the Company for less than two full fiscal years prior to the Date of Termination, the product in this clause (i) shall be deemed to equal zero; and (ii) the Executive’s target annual bonus (including the sum of any target annual bonus under any Annual Award or other agreement or arrangement and any quarterly bonuses, if applicable) for the then current fiscal year; and 
(B)  an amount equal to (i) the Executive’s then current annual base salary if the Executive is living in the United States on the Date of Termination, or (ii) the Executive’s then current annual base salary plus the Executive’s then current annual housing allowance if the Executive is living outside of the United States on the Date of Termination, 
(the sum of the amounts described in clauses (A) and (B) shall be hereinafter referred to as the “Severance Payment”);
(3)    with respect to any Multi-Year Award and Annual Award: 
(A)  If subsequent to such termination or resignation a Change in Control does not occur prior to the end of the applicable Performance Period, the Company shall pay the Executive, in a lump sum in cash on the Award Payment Date, any Pro-Rated Multi-Year Award and any Pro-Rated Annual Award, as applicable.  Notwithstanding the foregoing, in no event will any Pro-Rated Multi-Year Award or any Pro-Rated Annual Award, as applicable, be higher than the bonus the Executive would have achieved for the applicable Performance Period under the applicable Multi-Year Award or Annual Award, as the case may be, had the Executive remained employed with the Company through the end of the applicable Performance Period.  
(B)  If subsequent to such termination or resignation a Change in Control does occur prior to the end of the applicable Performance Period, the Company shall pay the Executive, in a lump sum in cash on the Change in Control Payment Date, any Pro-Rated Multi-Year Award and any Pro-Rated Annual Award, as applicable.
(C)  Upon the occurrence of either of the events described in Section 4.2(a)(i)(3)(A) or Section 4.2(a)(i)(3)(B), as applicable, each Multi-Year Award shall be terminated with respect to any remaining Performance Periods under such Agreement that would occur after the Performance Period in which the Date of Termination occurs and the Executive shall have no further rights with respect to the terminated portion of such Multi-Year Award.

(ii)    for 12 months after the Date of Termination, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue to provide benefits to the Executive and the Executive’s family at least equal to those which would have been provided to them if the Executive’s employment had not been terminated, in accordance with the applicable Benefit Plans in effect on the Effective Date or, if more favorable to the Executive and the Executive’s family, in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies; provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive a particular type of benefits (e.g., health insurance benefits) from such employer on terms at least as favorable to the Executive and the Executive’s family as those being provided by the Company, then the Company shall no longer be required to provide those particular benefits to the Executive and the Executive’s family (such benefits shall be hereinafter referred to as the “Primary Benefits”);
(iii)    to the extent not previously paid or provided, the Company shall timely pay or provide to the Executive any other amounts or benefits required to be paid or provided or which the Executive is eligible to receive following the Executive’s termination of employment under any plan, program, policy, practice, contract or agreement of the Company and its affiliated companies (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”); and
(iv)    for purposes of determining eligibility (but not the time of commencement of benefits) of the Executive for retiree benefits to which the Executive is entitled, the Executive shall be considered to have remained employed by the Company until 12 months after the Date of Termination.
(b)    Termination Without Cause or Resignation for Good Reason within one year after the Change in Control Date.  If the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or Death) or the Executive resigns for Good Reason at any time on or before the one year anniversary of the Change in Control Date, then the Executive shall be entitled to the following benefits:    
(i)    the Company shall pay to the Executive the following amounts:
(1)    in a lump sum in cash in the next regularly scheduled pay cycle following the Date of Termination, the Accrued Obligations; 
(2)    in a lump sum in cash in the next regularly scheduled pay cycle following the Date of Termination, an amount equal to the Severance Payment;
(ii)    for 12 months after the Date of Termination, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue to provide to the Executive and the Executive’s family the Primary Benefits;
(i)    to the extent not previously paid or provided, the Company shall timely pay or provide to the Executive the Other Benefits; and
(ii)    for purposes of determining eligibility (but not the time of commencement of benefits) of the Executive for retiree benefits to which the Executive is entitled, the Executive shall be considered to have remained employed by the Company until 12 months after the Date of Termination.
(c)    Section 409A of the Code.  Neither the Company nor the Executive may elect to defer delivery of any of the payments to be made under Section 4.2(a) or 4.2(b).  If any of the benefits payable under Section 4.2(a) or 4.2(b) (each a “Termination Benefit”) is considered “nonqualified deferred compensation” within the meaning of Section 409A of the Code (“Section 409A”), and the Executive is considered a “specified employee” within the meaning of Section 409A, then notwithstanding the provisions of Sections 4.2(a) and (b), no such Termination Benefit shall be paid to the Executive during the six-month period following the Executive’s termination of employment, provided, however that that such Termination Benefits may be paid immediately following the death of the Executive and such Termination Benefits shall be paid in a lump sum immediately upon the expiration of such 6-month period; and, provided, further, if not prohibited by Section 409A, such Termination Benefits shall, upon the Date of Termination, be paid into an escrow account with a third party acceptable to the Executive, such escrow account to be subject to the claims of creditors of the Company and such Termination Benefits to be paid to the Executive immediately upon the expiration of such six-month period.
(d)    Termination for Cause; Resignation without Good Reason; Termination for Death or Disability.  If the Company terminates the Executive’s employment with the Company for Cause at any time, the Executive 

voluntarily resigns at any time for other than Good Reason, or if the Executive’s employment with the Company is terminated by reason of the Executive’s death or Disability, then the Company shall (i) pay the Executive (or the Executive’s estate, if applicable), in a lump sum in cash within 30 days after the Date of Termination, the sum of (A) the Executive’s unpaid base salary through the Date of Termination, and (B) the amount of any compensation previously deferred by the Executive to the extent not previously paid and (ii) timely pay or provide to the Executive the Other Benefits. 
(e)    Currency and Foreign Exchange Rate.  For purposes of calculating the benefits payable to the Executive pursuant to this Section 4, such benefits shall in each case be payable in the currency in which the Executive would have received such compensation in the ordinary course of business as of the Date of Termination or Change in Control Date, as applicable (the “Present Currency”).  In the event that the Executive received any compensation in prior fiscal years in any currency other than the Present Currency (the “Prior Currency”), then for purposes of calculating the Executive’s Severance Payment, Pro-Rated Annual Award, and Pro-Rated Multi-Year Award, as applicable, any amounts paid to the Executive in the Prior Currency shall be converted to the Present Currency at the prevailing exchange rate that was in effect on the date such compensation was paid.  
(f)    Exclusions from Base Salary and Bonus.  For purposes of this Section 4, base salary and bonus exclude, without limitation, the following items: transportation and moving expenses, tuition, air travel for non-business reasons, tax equalization payments, and any extraordinary payments that the Executive may be entitled to pursuant to non-U.S. law.
4.3    Mitigation.  The Executive shall not be required to mitigate the amount of any payment or benefits provided for in this Section 4 by seeking other employment or otherwise. Further, except as provided in Sections 4.2(a)(ii) and (b)(ii) and in Section 8.9, the amount of any payment or benefits provided for in this Section 4 shall not be reduced by any compensation earned by the Executive as a result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company or otherwise.
5.    Disputes.
5.1    Settlement of Disputes; Arbitration.  All claims by the Executive for benefits under this Agreement shall be directed to and determined by the Supervisory Board and shall be in writing in accordance with Section 7.1.  Any denial by the Supervisory Board of a claim for benefits under this Agreement shall be delivered to the Executive in writing in accordance with Section 7.1 and shall set forth the specific reasons for the denial and the specific provisions of this Agreement relied upon.  The Supervisory Board shall afford a reasonable opportunity to the Executive for a review of the decision denying a claim.  Any further dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in Boston, Massachusetts, in accordance with the rules of the American Arbitration Association then in effect.  Judgment may be entered on the arbitrator’s award in any court having jurisdiction.  
5.2    Expenses.  The Company agrees to pay as incurred, to the full extent permitted by law, all legal, accounting and other fees and expenses which the Executive may reasonably incur as a result of any claim or contest (regardless of the outcome thereof) by the Company, the Executive or others regarding the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive regarding the amount of any payment or benefits pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code.  
5.3    Compensation During a Dispute.  If the right of the Executive to receive benefits under Section 4 (or the amount or nature of the benefits to which the Executive is entitled to receive) are the subject of a dispute between the Company and the Executive, the Company shall continue (a) to pay to the Executive’s base salary as of the Effective Date (or as the same was or may be increased thereafter from time to time) and (b) to provide benefits to the Executive and the Executive’s family at least equal to those which would have been provided to them, if the Executive’s employment had not been terminated, in accordance with the applicable Benefit Plans in effect on the Effective Date (or as subsequently adopted or modified with the Executive’s written consent), until such dispute is resolved either by mutual written agreement of the parties or by an arbitrator’s award pursuant to Section 5.1.  Following the resolution of such dispute, the sum of the payments (net of tax and other withholdings) made to the Executive under clause (a) of this Section 5.3 shall be deducted from any cash payment which the Executive is entitled to receive pursuant to Section 4; and if such sum exceeds the amount of the cash payment which the Executive is entitled to receive pursuant to Section 4, the excess of such net sum over the amount of such payment shall be repaid (without interest) by the Executive to the Company within 60 days of the resolution of such dispute.

6.    Successors.
6.1    Successor to the Company.  Cimpress N.V. shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of Cimpress N.V. to expressly assume and agree to perform this Agreement to the same extent that Cimpress N.V. would be required to perform it if no such succession had taken place.  Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall (a) be a material breach of this Agreement and shall constitute Good Reason if the Executive elects to terminate employment, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination and (b) shall cause such succession to be deemed a Change in Control for purposes of Section 4 hereof regardless of the definition of Change in Control set forth in Annex A.  As used in this Agreement, “Company” shall mean the Company as defined above and any successor to its business or assets as aforesaid which assumes and agrees to perform this Agreement, by operation of law or otherwise, except where the context otherwise requires.
6.2    Successor to Executive.  This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.  If the Executive should die while any amount would still be payable to the Executive or the Executive’s family hereunder if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of the Executive’s estate.
7.    Notice.  
7.1    All notices, instructions and other communications given hereunder or in connection herewith shall be in writing.  Any such notice, instruction or communication shall be sent either (i) by registered or certified mail, return receipt requested, postage prepaid, or (ii) prepaid via a reputable nationwide overnight courier service, in each case addressed to:
the Company, at: 

Cimpress N.V.
Hudsonweg 8
5928 LW Venlo
The Netherlands

with a copy to:

Thomas S. Ward, Esq.
Wilmer Cutler Pickering Hale and Dorr LLP
60 State Street
Boston, MA 02109
USA

and to the Executive at the Executive’s address indicated on the signature page of this Agreement (or to such other address as either the Company or the Executive may have furnished to the other in writing in accordance herewith).  
7.2    Any such notice, instruction or communication shall be deemed to have been delivered five business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or one business day after it is sent via a reputable nationwide overnight courier service. Either party may give any notice, instruction or other communication hereunder using any other means, but no such notice, instruction or other communication shall be deemed to have been duly delivered unless and until it actually is received by the party for whom it is intended.
8.    Miscellaneous.
8.1    Consideration.  The Executive acknowledges having received adequate consideration from the Company for entering into this Agreement.
8.2    Severability.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

8.3    Injunctive Relief.  The Company and the Executive agree that any breach of this Agreement by the Company is likely to cause the Executive substantial and irrevocable damage and therefore, in the event of any such breach, in addition to such other remedies which may be available, the Executive shall have the right to specific performance and injunctive relief.
8.4    Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the internal laws of the Commonwealth of Massachusetts, without regard to conflicts of law principles.  
8.5    Guarantee.  The Company hereby unconditionally guarantees all of the payment obligations of the Company to the Executive which may arise in connection with the terms and conditions of this Agreement.
8.6    Waivers.  No waiver by the Executive at any time of any breach of, or compliance with, any provision of this Agreement to be performed by the Company shall be deemed a waiver of that or any other provision at any subsequent time.
8.1    Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original but both of which together shall constitute one and the same instrument.
8.2    Tax Withholding.  Any payments provided for hereunder shall be paid net of any applicable tax withholding required under federal, state or local law.
8.3    Entire Agreement.  This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto in respect of the subject matter contained herein; and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled.  Except for the provisions of Section 4.1 hereof, nothing in this Agreement shall modify, amend or alter, in any manner, any stock option, stock restriction or other equity incentive arrangement or any non-disclosure, non-competition, non-solicitation, assignment of invention, or any similar agreement, to which the Executive is a party.  Executive shall not be entitled to any severance or similar benefits in excess of the benefits the Executive is owed under this Agreement.  To the extent that, at the time of the Executive’s termination of employment, any laws or regulations provide for the payment of a severance or similar benefit that is in addition to, or in excess of, the amounts Executive is owed with respect to any similar element of compensation under this Agreement, the Executive hereby waives any rights or benefits to which the Executive may be entitled pursuant to any such laws or regulations; provided that, to the extent the foregoing waiver is ineffective or unenforceable, the benefits to which the Executive is owed under this Agreement shall be reduced to an amount such that the sum of such reduced amount and the amount the Executive actually receives pursuant to any such laws or regulations is equal to the amount that would have been payable under this Agreement but for the operation of this proviso.
8.4    Amendments.  This Agreement may be amended or modified only by a written instrument executed by the Company and the Executive.  Notwithstanding anything herein to the contrary, to the extent future guidance is issued regarding Section 409A that the Company or the Executive reasonably believe will result in adverse tax consequences to the Executive as a result of this Agreement, then the Company and the Executive will renegotiate the terms of this Agreement in good faith in order to minimize or eliminate such tax treatment.
8.5    Executive’s Acknowledgements.  The Executive acknowledges that the Executive (a) has read this Agreement; (b) has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Executive’s own choice or has voluntarily declined to seek such counsel; (c) understands the terms and consequences of this Agreement; and (d) understands that the Company’s outside and in-house counsel are acting as counsel to the Company in connection with the transactions contemplated by this Agreement, and are not acting as counsel for the Executive.
8.6    Award Transfers.  All references in this Agreement to options, restricted share units, restricted stock awards, other equity awards or any other awards of the Company (collectively, “Awards”), and all provisions related to such Awards and the benefits obtained by the Executive with respect to the treatment of such Awards, shall be deemed to apply equally to: (i) Awards held directly by the Executive and (ii) Awards transferred by the Executive to permitted transferees under the terms of such Awards, including, without limitation, Awards transferred by the Executive to any immediate family member, family trust, family partnership or family limited liability company established solely for the benefit of the Executive and/or an immediate family member of the Executive; such that, without limiting the generality of the foregoing, all rights and benefits of and to the Executive arising from or relating to the treatment of such Awards under the terms of this Agreement shall be deemed to apply equally to any such Awards transferred to and held by such permitted transferees, including, without 

limitation, all rights and benefits relating to the acceleration of vesting of Awards and the extension of the period for exercising Awards.

[Remainder of page is intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first set forth above.

CIMPRESS N.V.
/s/Robert Keane
By:    
Title:    

EXECUTIVE

/s/Ashley Hubka
Ashley Hubka

Address:
                
                

Annex A

As used herein, the following terms shall have the following respective meanings:
1.“Annual Award” means any annual award under the Cimpress N.V. Performance Incentive Plan or Performance Incentive Plan for Covered Employees, as the case may be (collectively, the “Performance Incentive Plan”).
2.    “Award Payment Date” means the date which shall occur as soon as practicable following the end of the applicable Performance Period, but no later than the end of the next succeeding fiscal quarter following the end of the applicable Performance Period.
3.    “Cause” means:
(a)    the Executive’s willful and continued failure to substantially perform the Executive’s reasonable assigned duties (other than any such failure resulting from incapacity due to physical or mental illness or any failure after the Executive gives Notice of Termination for Good Reason), which failure is not cured within 30 days after a written demand for substantial performance is received by the Executive from the Supervisory Board which specifically identifies the manner in which the Supervisory Board believes the Executive has not substantially performed the Executive’s duties; or
(b)    the Executive’s willful engagement in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company.
For purposes of this definition, no act or failure to act by the Executive shall be considered “willful” unless it is done, or omitted to be done, in bad faith and without reasonable belief that the Executive’s action or omission was in the best interests of the Company.
4.    “Change in Control” means an event or occurrence set forth in any one or more of subsections (a) through (d) below:
(a)    the acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership of any capital stock of Cimpress N.V. (or any successor thereto) if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 50% or more of either (x) the then-outstanding ordinary shares of Cimpress N.V. (or any successor thereto) (the “Outstanding Cimpress N.V. Ordinary Shares”) or (y) the combined voting power of the then-outstanding securities of Cimpress N.V. (or any successor thereto) entitled to vote generally in the election of directors (the “Outstanding Cimpress N.V. Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from Cimpress N.V. (or any successor thereto) (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for ordinary shares or voting securities of Cimpress N.V. (or any successor thereto), unless the Person exercising, converting or exchanging such security acquired such security directly from Cimpress N.V. (or any successor thereto) or an underwriter or agent of Cimpress N.V. (or any successor thereto)), (ii) any acquisition by Cimpress N.V. (or any successor thereto), (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Cimpress N.V. (or any successor thereto) or any corporation controlled by Cimpress N.V. (or any successor thereto), or (iv) any acquisition by any corporation pursuant to a transaction which complies with clauses (i) and (ii) of subsection (c) of this definition; or
(b)    such time as the Continuing Directors (as defined below) do not constitute a majority of the Supervisory Board, where the term “Continuing Director” means at any date a member of the Supervisory Board (i) who was a member of the Supervisory Board on the date of the execution of this Agreement or (ii) who was nominated or elected subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Supervisory Board was recommended or endorsed by at least a majority of the directors who were Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from this clause (ii) any individual whose initial assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the Supervisory Board; or
(c)    the consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving Cimpress N.V. (or any successor thereto) or a sale or other disposition of all or substantially all of the assets of Cimpress N.V. (or any successor thereto) in one or a series of transactions (a “Business Combination”), unless, 

immediately following such Business Combination, each of the following two conditions is satisfied: (i) all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Cimpress N.V. Ordinary Shares and Outstanding Cimpress N.V. Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding ordinary shares and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns Cimpress N.V. (or any successor thereto) or substantially all of the  assets of Cimpress N.V. (or any successor thereto) either directly or through one or more subsidiaries) (such resulting or acquiring corporation is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Cimpress N.V. Ordinary Shares and Outstanding Cimpress N.V. Voting Securities, respectively; and (ii) no Person (excluding the Acquiring Corporation or any employee benefit plan (or related trust) maintained or sponsored by Cimpress N.V. (or any successor thereto) or by the Acquiring Corporation) beneficially owns, directly or indirectly, 30% or more of the then outstanding ordinary shares of the Acquiring Corporation, or of the combined voting power of the then-outstanding securities of such corporation entitled to vote generally in the election of directors (except to the extent that such ownership existed prior to the Business Combination); or
(d)    approval by the Supervisory Board of a complete liquidation or dissolution of Cimpress N.V. (or any successor thereto).
5.     “Change in Control Date” means the first date during the Term (as defined in Section 2) on which a Change in Control occurs.  Anything in this Agreement to the contrary notwithstanding, if the Executive’s employment with the Company is terminated (other than a termination by the Company for Cause or a resignation by the Executive without Good Reason) less than 180 days prior to the date on which the Change in Control occurs, then for all purposes of this Agreement the “Change in Control Date” shall mean the date immediately prior to the Date of Termination.  
6.    “Change in Control Payment Date” means the date which shall occur as soon as practicable following the Change in Control, but no later than two and one half months following the Change in Control.
7.    “Code” means the Internal Revenue Code of 1986, as amended. 
8.    “Compensation Committee” means the Compensation Committee of the Supervisory Board.
9.    “Disability” means the Executive’s absence from the full-time performance of the Executive’s duties with the Company for 180 consecutive calendar days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive’s legal representative.     
10.    “Multi-Year Award” means any four-year award or other multi-year award under the Performance Incentive Plan.
11.    “Good Reason” means the occurrence, without the Executive’s written consent, of any of the events or circumstances set forth in clauses (a) through (d) below.  Notwithstanding the occurrence of any such event or circumstance, such occurrence shall not be deemed to constitute Good Reason if, within 30 days of the Notice of Termination (as defined in Section 3.2(a)) given by the Executive in respect thereof, such event or circumstance has been fully corrected and the Executive has been reasonably compensated for any losses or damages resulting therefrom.  If the Company does not fully correct such event or circumstance during this 30-day period, the Notice of Termination for Good Reason given by the Executive shall become effective.
(a)    a material diminution in the Executive’s authority, duties or responsibilities in effect as of the Effective Date;
(b)    a material reduction in the Executive’s base salary as in effect on the Effective Date or as the same was or may be increased thereafter from time to time except to the extent that such reduction affects all executive officers of the Company and its subsidiaries to a comparable extent;
(c)    a material change by the Company in the geographic location at which the Executive performs the principal duties for the Company; or
(d)    any action or inaction by the Company that constitutes a material breach of this Agreement.

For purposes of this Agreement, any reasonable, good faith determination of “Good Reason” made by the Executive shall be conclusive, binding and final.  The Executive’s right to resign for Good Reason shall not be affected by the Executive’s incapacity due to physical or mental illness.
12.    “Performance Period” means the time period for which the Executive’s performance is measured for purposes of receiving a bonus under the Performance Incentive Plan. 
13.    “Pro-Rated Annual Award” means, with respect to any Annual Award, the product of (i) the average actual payout percentage under the Annual Award for the two most recently completed fiscal years, multiplied by 100% of the Executive’s base amount for the then-current Performance Period and (ii) the Pro-Rating Fraction; provided, however, that if the Executive did not have an Annual Award in each of the two most recently completed fiscal years, the Pro-Rated Annual Award shall be equal to the product of (i) 100% of the base amount for the Performance Period in which the Date of Termination occurs and (ii) the Pro-Rating Fraction.
14.    “Pro-Rated Multi-Year Award” means, with respect to each of the Executive’s Multi-Year Award, the product of (i) the average actual payout percentage under the Multi-Year Award for the two most recently completed fiscal years, multiplied by the Executive’s mid-range target bonus for the Multi-Year Award that is in effect for the then-current Performance Period and (ii) the Pro-Rating Fraction; provided, however, that if the Executive did not have a target bonus under the Multi-Year Award in each of the two most recently completed fiscal years, the Pro-Rated Multi-Year Award for such Multi-Year Award shall be equal to the product of (i) the mid-range target bonus for the Performance Period in which the Date of Termination occurs and (ii) the Pro-Rating Fraction.
15.    “Pro-Rating Fraction” means a fraction, the numerator of which is the number of days in the current fiscal year through the earlier of the Date of Termination and Change in Control Date, as applicable, and the denominator of which is 365.Exhibit

Contrat de Travail - Employment Agreement

	
		
	ENTRE LES SOUSSIGNES

Cimpress France SARL, 
Société à responsabilité limitée, au capital social de 1.000 euros, dont le siège social est situé 4 Square Edouard VII, 75009 Paris, immatriculée au RCS de Paris sous le numéro 452 977 382.

Représentée par Monsieur Robert Keane, Gérant, dûment habilité.
	BETWEEN THE UNDERSIGNED

Cimpress France SARL,
A limited liability company, with a share capital of 1,000 euros, whose registered office is located at 4 Square Edouard VII, 75009 Paris, registered with the Commercial Registry of Paris under number 452 977 382.

Represented for the purposes hereof by Mr. Robert Keane, Managing Director, duly empowered.

	Ci-après désignée “la Société”,
	Hereafter referred to as “the Company”,

	D’UNE PART,
	ON THE ONE HAND,

	ET
	AND

	Mme Ashley Hubka
	Mrs Ashley Hubka

	Ci-après dénommé(e) “Salarié”
	Hereafter referred to as “Employee“

	D’AUTRE PART
	ON THE OTHER HAND

	IL A ETE CONVENU ET ARRETE CE QUI SUIT :

La Société et le Salarié ont conclu un contrat de travail le 11 Octobre 2011. La Société et le Salarié sont convenus de modifier ces conditions de travail, et notamment le titre et la rémunération. Par conséquent, les parties conviennent d'annuler et de remplacer toutes ces conditions de travail conclues le 11 Octobre 2011 par ce qui suit, sans modification toutefois de l’ancienneté du Salarié accumulée avec la Société.

La Société engage le Salarié qui accepte, aux conditions générales prévues par la Convention Collective applicable, ainsi qu’aux conditions particulières définies ci-après.

La référence à cette Convention Collective ne l’est qu’à titre d’information et ne constitue pas un élément contractuel du présent contrat de travail comme le reconnaissent les parties par la signature des présentes.
	IT HAS BEEN AGREED AS FOLLOWS:

The Company and Employee entered into an employment contract on 11 October 2011. The Company and Employee agree on changes to these employment terms and conditions and notably on the title and the remuneration. Therefore, the parties agree to annul and replace all of the employment terms and conditions entered into on 11 October 2011 by the following, with not impact however on Employee’s tenure with the Company.

The Company hereby employs Employee, who accepts, under the general conditions provided by the applicable Collective Bargaining Agreement, and under the specific conditions defined hereinafter.

The reference to this Collective Bargaining Agreement is made for information purposes only and is not part of the employment contract.

	ARTICLE 1 - Rôle ; Fonctions

Le Salarié sera initialement employé par la Société au poste de EVP & Chief Strategy Officer, avec le statut cadre dirigeant, position 3-3, coefficient 270. La Société peut modifier le poste du Salarié à l'occasion et/ou demander au Salarié qu'il occupe un poste pour lequel il possède les compétences et l'expérience requises.

Par leur nature, les fonctions du Salarié ont un caractère évolutif notamment lié aux impératifs d’adaptation de la Société. Ainsi, le Salarié reconnaît être tenu à l'égard de la Société, par une obligation professionnelle générale au terme de laquelle il pourra lui être demandé d’exécuter des tâches complémentaires voire différentes, et/ou d’assumer toutes responsabilités correspondant à sa qualification et au poste qu’il occupe, sans que cela ne conduise à une modification du contrat et/ou à une quelconque modification de sa rémunération.
	ARTICLE 1 - Title; Duties

Employee shall serve going forward Company as EVP & Chief Strategy Officer, with executive status, position 3-3, coefficient 270. Company may change Employee’s title from time to time and/or require Employee to undertake any role for which the Employee’s skills and experience are suitable.

By their nature, Employee’s duties may develop, in line with Company’s need to adapt. Employee acknowledges that he/she is bound by a general professional obligation vis-à-vis Company, such that he/she may be requested to perform any and all tasks complementary and even different, and/or to assume any and all responsibilities to the extent compatible with his/her qualifications and the position held, without this resulting in an amendment of the contract and/or to the remuneration package provided for herein.

	
		
	ARTICLE 2 - Rémunération; Bonus

Le Salarié percevra un salaire de base initial de trois cent quarante-cinq mille Euros (€345,000) par an. Le salaire du Salarié s'accumulera jour après jour et sera payable à terme échu selon les pratiques de versement de salaire définies

Le Salarié accepte de recevoir ses bulletins de salaire à son adresse email professionnelle dans un format électronique non-altérable.

Le salaire annuel brut mentionné à l’article 2.1 ci-dessus est inclusif de toute prime ou gratification annuelle ou mensuelle éventuelle ou tout autre bonus établis par la Convention Collective et en particulier, les primes vacances mentionnées à l’article 31 de la Convention Collective.

Le Salarié recevra une aide annuelle de quarante mille Euros (€40,000), payée en 12 versements mensuels égaux, laquelle est destinée à participer aux frais de logement.

Pour tenir compte de l'importance des déplacements nécessités par ce rôle et eu égard à l'importance des sujétions particulières liées à ces déplacements, le Salarié percevra une prime de déplacement à l'étranger, dite "prime d'expatriation" en conformité avec les conditions stipulées en Annexe 1 ci-jointe.

L’ensemble des éléments de rémunération susvisés feront l’objet de déductions au titre de la part salariale des cotisations de Sécurité Sociale, de retraite complémentaire et de prévoyance, d’assurance chômage, ainsi que de la C.S.G. et de la C.R.D.S.

Dans le cadre des règles édictées par les textes français applicables, la Société pourra déduire du salaire du Salarié ou de tout autre paiement qui lui serait dû par la Société, y compris lors de la rupture de son contrat de travail, certaines sommes dont il pourrait être redevable envers la Société. Ces sommes incluent notamment, le remboursement des avances sur salaire (y compris les avances sur frais).
	ARTICLE 2 - Salary; Bonus

Employee shall be paid an initial base salary of three hundred forty-five thousand Euros (€345,000) per annum. Employee's salary shall accrue from day to day and be payable in arrears in accordance with established payroll practices. 

Employee accepts to receive all his pay slips via his work email address in a non-alterable electronic format.

The annual gross salary mentioned in article 2.1 above includes any and all possible annual or monthly premium or gratification or any other bonus that may be provided by the Collective Bargaining Agreement and, in particular, the holiday premium set out in Article 31 of the Collective Bargaining Agreement.

Employee will receive an annual allowance equivalent to forty thousand Euros (€40,000) paid in 12 equal monthly installments to account for housing expenses.

In order to reflect the importance of travel anticipated and given the importance of the particular constraints connected with these trips, Employee will receive a foreign travel allowance, called "expatriation premium" in accordance with the terms and conditions set forth in Annex 1 attached hereto.

All the elements of remuneration cited above shall be subject to deduction of Employee share of social security, supplemental retirement, invalidity and death, and unemployment insurance contributions, and C.S.G. and C.R.D.S.

In so far as allowed by French law, Company may deduct from Employee’s salary or any other payment due to him from Company, including any payment due to him on termination of his employment, certain sums properly due from him to Company.  Such sums include, without limitation, repayment of any advances (including advances on expenses).

	ARTICLE 3 - Congés Payés

Le Salarié bénéficiera des congés payés prévus par la loi, dont la prise sera déterminée par accord avec la Direction, compte tenu des nécessités du service. 
	ARTICLE 3 - Holidays

Employee shall be entitled to paid vacation as provided by law, the period of which shall be determined by agreement with the management, taking business requirements into account. 

	
		
	ARTICLE 4 - Temps de Travail 

4.1 Il est entendu que le Salarié a des responsabilités importantes, possède un niveau d'autonomie élevé dans l'organisation de son emploi du temps, est en droit de prendre des décisions autonomes et bénéficie d'une rémunération qui fait partie des rémunérations les plus élevées au sein de la Société. 

4.2 A la lumière de sa rémunération et des spécificités de sa/ses missions, le Salarié est un cadre dirigeant conformément aux dispositions de l'article L. 3111-2 du Code du travail français. 

4.3 Par conséquent, sauf pour les dispositions en lien avec les congés payés conformément aux Articles L.3141-1 et suivants du Code du travail français, le Salarié ne sera soumis à aucune réglementation en matière de temps de travail.

4.4 Il est explicitement entendu et convenu que la rémunération du salarié, telle que définie dans l'Article 4 ci-dessus, qui a été convenue à la lumière de la nature spéciale des fonctions qui lui ont été attribuées et de l'importance de ses responsabilités, restera indépendante du temps que le Salarié consacrera à la réalisation de ses fonctions.
	ARTICLE 4 - Time Commitment

4.1 It is understood that Employee has important responsibilities, has a large degree of independence in the organization of his/her work schedule, is entitled to take autonomous decisions and benefits from a remuneration which is in the highest levels of remuneration within Company. 

4.2 In light of both his/her remuneration and the specificities of his/her duties, Employee is a “cadre dirigeant” in accordance with the provisions of article L. 3111-2 of the French Labor Code. 

4.3 Consequently, except for the provisions related to paid-vacation pursuant to Articles L.3141-1 and seq. of the French Labor Code, Employee shall not be subject to any working time regulations.

4.4 It is expressly understood and agreed that Employee’s remuneration, as defined in Article 4 above, which is agreed upon in light of both the special nature of the functions assigned to him/her and the importance of his/her responsibilities, will remain independent of the time that Employee will devote to the performance of his functions.

	ARTICLE 5 - Lieu de Travail

5.1 Le lieu de travail du Salarié est fixé au siège social de la Société.

5.2 La Société se réserve le droit de transférer ses bureaux et le lieu de travail du Salarié en tout autre lieu en région parisienne, ce que le Salarié accepte expressément.

5.3 Par ailleurs, il est expressément convenu et accepté que le Salarié sera amené à effectuer  à la demande de la Société, au titre des fonctions qui lui sont confiées par la Société, de fréquents déplacements tant en France qu’à l’étranger.
	ARTICLE 5 - Place of Work

5.1 Employee’s place of work shall be set at the registered office of Company.

5.2 Company reserves the right to move its offices and the Employee’s place of work elsewhere in the Paris area, which the Employee expressly accepts.

5.3 In addition, it is expressly understood and agreed that Employee will have upon request of the Company to realize, in the framework of the duties assigned to him frequent travels in France and abroad.

	
		
	ARTICLE 6 - Durée du Contrat

6.1 Date d'entrée en vigueur. Ce contrat entre en vigueur rétroactivement au 1er juillet 2016.

6.2 Préavis. Ce contrat est à durée indéterminée sous réserve de ses termes et conditions, jusqu’à sa résiliation par:
(a) l'une des parties remettant à l'autre partie un préavis adressé par courrier recommandé avec accusé de réception conformément au droit applicable et à la Convention Collective ;
(b) La Société avec effet immédiat et sans préavis et sans obligation d'effectuer d'autres paiements au Salarié (autres que les montants cumulés et dus à la date de résiliation) en cas faute grave du Salarié, notamment, et sans limitation, si le Salarié :
(i)ne peut plus travailler légalement en France ;
(ii)viole la politique anti-corruption de la Société et les procédures y afférentes ; ou
(iii)commet un acte ou une omission volontaire, irresponsable ou de négligence grave qui a ou aurait pu avoir un effet néfaste sur l'activité ou la réputation de Cimpress (tel que défini à la clause 12.2 ci-dessous) ou sur la capacité du Salarié à réaliser effectivement les prestations pour la Société, y compris, sans limitation, un Salarié inculpé d'une infraction pénale (autre qu'une infraction au code de la route n'entraînant pas de peine de prison) ou condamné pour un autre délit (autre que des infractions ordinaires au code de la route) ; 
(iv)de l'avis de la Société, refuse sans excuse valable ou manque à l'exécution des obligations qui lui sont assignées ;
(v)commet une faute grave ou lourde, a un comportement non professionnel ou fait preuve d'un absentéisme excessif sans motif valable ; 
(vi)refuse ou omet de se conformer aux instructions raisonnables et légales de la Société et/ou de respecter le Code de déontologie de la Société, la Politique relative aux délits d'initié de la Société ou les règles, politiques et procédures publiées occasionnellement par la Société ; ou 
(vii)commet une violation ou omet de respecter un ou plusieurs des accords conclus entre lui et la Société : le présent contrat ; l'Accord de non-concurrence et de non-sollicitation ; et l'Accord relatif aux inventions et aux clauses de confidentialité. 

6.3 Le Salarié et Cimpress N.V. ont signé le 16 Février 2016 un accord intitulé Executive Retention Agreement qui octroie au Salarié une indemnisation et des avantages spécifiques en cas de cessation de la relation de travail avec Cimpress. Les parties acceptent que ces droits contractuels à une indemnisation et avantages spécifiques ne sont pas cumulables avec les droits du Salarié en vertu de la loi applicable et de la Convention Collective et qu’en cas de cessation de la relation de travail établie au présent contrat, le Salarié sera bénéficiaire du plus élevé des deux, soit (a) l’indemnisation et les avantages déterminés par la loi applicable et la Convention Collective ; ou (b) les droits contractuels définis par l'Executive Retention Agreement.

6.4 La période d’emploi continue avec Cimpress France sarl à partir du 3 octobre 2011 est prise en compte pour le calcul de l’ancienneté du Salarié auprès de la Société et la Date d'entrée en vigueur est la même que la Date d'embauche initiale auprès de [ Cimpress France sarl. Le décompte des années de service s'applique aux avantages qui sont basés sur les services comme les congés payés (congé annuel), conformément aux politiques de la Société.
	ARTICLE 6 - Term of Employment

6.1 Commencement Date.  This agreement is retroactively effective as of 1 July 2016.

6.2 Prior Notice.  This agreement shall continue, subject to the remaining terms of this agreement, until terminated by:
(a) either party giving the other party prior notice by registered letter with acknowledgement of receipt in accordance with applicable law and the Collective Bargaining Agreement;
(b) Company with immediate effect without notice and with no liability to make any further payment to Employee (other than in respect of amounts accrued due at the date of termination) in the event of gross misconduct (“faute grave”) from Employee, notably and without limitation, if Employee:
(i)ceases to be eligible to work in France;
(ii)breaches Company's anti-corruption and bribery policy and related procedures; or
(iii)commits any willful, reckless or grossly negligent act or omission by Employee that has or that reasonably could be expected to have an adverse effect on the business or reputation of Cimpress (as defined in clause 12.2 below) or on Employee’s ability to effectively perform services for Company, including, without limitation, the Employee being charged of a criminal offence (other than any traffic offence not incurring a custodial sentence) or being convicted of any other offense (other than ordinary traffic violations); 
(iv)in Company’s opinion refuses with no valid excuse or fails to perform assigned duties;
(v)commits serious or gross misconduct, unprofessional behavior, or excessive unexcused absenteeism; 
(vi)refuses or neglects to comply with any reasonable and lawful directions of the Company and/or to comply with Company’s Code of Business Conduct, Company’s Insider Trading Policy or any rules, policies and procedures issued by the Company from time to time; or 
(vii)commits any breach or non-observance any one or more of the following agreements between him and Company:  this agreement; the Non-Competition and Non-Solicitation Agreement; and the Invention and Non-Disclosure Agreement. 

6.3 Employee and Cimpress N.V. signed on 16 February 2016 an Executive Retention Agreement that provides for specific rights relative to compensation and benefits in the event of cessation of employment with Cimpress. The parties accept that these specific contractual rights relative to compensation and benefits are not cumulative with Employee’s rights under applicable law and the Collective Bargaining Agreement and that in the event of cessation of employment under this agreement, Employee shall receive the greater of either (a) the compensation and benefits determined by applicable law and the Collective Bargaining Agreement; or (b) the contractual rights defined under the Executive Retention Agreement.

6.4 Continuous employment from Cimpress France sarl as from 3 October 2011 without any gap counts towards Employee's period of continuous employment with Company and the Commencement Date is equal to the original hire date with Cimpress France sarl. Service credit is applied to benefits that are service-based such as PTO (annual leave), in compliance with Company’s policies. 

	
		
	ARTICLE 7 - Obligations

7.1 À titre de condition suspensive à l'entrée en vigueur de ce contrat, le Salarié convient de et a signé et daté l'Accord de non-concurrence et de non-sollicitation et l'Accord relatif aux inventions et aux clauses de confidentialité ci-joints aux présentes.

7.2 Le Salarié consacrera la totalité de son temps de travail, de son attention et de ses capacités à l'activité de la Société.

7.3 Le Salarié respectera strictement la politique anti-corruption de la Société et les procédures y afférentes en permanence. Le Salarié signalera ses propres actes répréhensibles et tous les actes répréhensible avérés ou présumés d'un autre salarié ou d'un administrateur de la Société ou d'une Société du Groupe au Vice-président en charge de la conformité à  compliancequestions@cimpress.com dès en prend connaissance.

7.4 Le Salarié respectera strictement le Code de conduite, les règles, les politiques et les procédures de la Société, dont un exemplaire est disponible auprès du service des RH. Le guide de l'employé de la Société tel qu'il est modifié de temps à autre ne fait pas partie du présent contrat et la Société peut le modifier à n'importe quel moment à son entière discrétion sans préavis. En cas de conflit entre les modalités du présent contrat et le guide de l'employé, le présent contrat prévaudra.
	ARTICLE 7 - Duties 

7.1 As condition precedent to the effectiveness of this agreement, Employee agrees with and has signed and dated the Non-Competition and Non-Solicitation Agreement and the Invention and Non-Disclosure Agreement attached hereto.

7.2 Employee shall devote the whole of his work time, attention and abilities to the business of Company.

7.3 Employee shall strictly comply with Company's anti-corruption and bribery policy and related procedures at all times. Employee shall report his own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee or director of Company or any Group Company to the Compliance Vice-President via compliancequestions@cimpress.com immediately on becoming aware of it.

7.4 Employee shall strictly comply with Company’s Code of Conduct, rules, policies and procedures, a copy of which is available from the HR department. Company's employee handbook as amended from time to time does not form part of this agreement and Company may amend it at any time in its sole discretion without prior notice. To the extent that there is any conflict between the terms of this agreement and the employee handbook, this agreement shall prevail.

	ARTICLE 8 - Garanties du Salarié

8.1  Le Salarié déclare et garantit à la Société que, en concluant le présent contrat ou en exécutant l'une des obligations qui lui incombent en vertu de celui-ci, il n'agira pas en violation d'une quelconque ordonnance d'un tribunal ou de conditions explicites ou implicites d'un contrat ou de toute autre obligation lui incombant.

8.2 Le Salarié garantit qu'il a le droit de travailler en France sans autorisations particulières et s’engage à notifier immédiatement la Société de toute perte temporaire ou permanente de son droit de travail durant la durée de ce contrat. 

8.3 La Salarié reconnaît et accepte que sa possession de titres de séjour et de travail en cours de validité constitue une condition essentielle et indispensable au présent contrat. Le retrait ou le non-renouvellement de ces titres de séjour et/ou de travail pour des raisons qui ne sont pas liées à une défaillance de la Société à sponsoriser ou continuer à sponsoriser ces titres pour le Salarié pendant la durée de ce contrat, entraînera la rupture dudit contrat. Toute fausse déclaration sur ce point exposerait le Salarié au paiement de dommages-intérêts, notamment en application de l'article L. 1237-2 du Code du Travail.

	ARTICLE 8 - Employee Warranties

8.1 Employee represents and warrants to Company that, by entering into this agreement or performing any of his obligations under it, he will not be in breach of any court order or any express or implied terms of any contract or other obligation binding on him.

8.2 Employee warrants that he/she is entitled to work in France without any additional approvals and will notify Company immediately if he ceases temporarily or permanently to be so entitled during this agreement.

8.3 It has been acknowledged and agreed by Employee that holding valid residence and work permits is of the essence of this contract. In the case of the revocation or the non-renewal of such permits for reasons that are not related to a failure of Company to act or continue to act as sponsor of the permit for Employee during the duration of this agreement, this contract will be terminated. Any false statement in this respect would subject Employee to liability for damages, in particular pursuant to Article L. 1237-2 of the French Labor Code.

	
		
	ARTICLE 9 - Conséquences de la Résiliation

9.1 Lors de la résiliation du présent contrat pour quelque raison que ce soit, le Salarié devra :
(a)immédiatement restituer à la Société tous les ouvrages, documents, fichiers, dossiers, correspondance, papiers et informations et leurs copies, sur quelque support que ce soit et où qu'ils se trouvent, relatifs à l'activité ou aux affaires de la Société ou d'une Société du Groupe ou à ses contacts professionnels, ainsi que les clés, cartes de crédit, équipements (y compris, sans limitation, le matériel informatique, les logiciels et les imprimantes, les appareils sans fils, les téléphones mobiles, les pagers, etc.) et tous les autres biens de la Société ou d'une Société du Groupe [y compris une voiture fournie au Salarié] qui sont en sa possession ou sous sa responsabilité ;
(b)immédiatement restituer à la Société tous les badges d'accès aux bâtiments de Cimpress et autres dispositifs d'identification similaires, et tous les autres biens appartenant à Cimpress ou loués pas Cimpress en sa possession ou sous sa responsabilité en laissant intacts tous les documents électroniques, dossiers et fichiers de Cimpress, y compris, sans limitation, ceux qu'il a élaborés ou qu'il a aidé à élaborer pendant qu'il était employé par la Société ;
(c)faire clore tous les comptes ouverts à son profit, le cas échéant, au nom de la Société, y compris, sans limitation, les cartes de crédit, cartes de téléphone, comptes de téléphone mobile et/ou pager et les comptes informatiques ;
(d)faire transférer à la Société tous les droits et le contrôle sur (y compris les identifiants, mots de passe et données similaires) les comptes, comptes de média sociaux, abonnements et/ou inscriptions, électroniques ou autres, qu'il a créés et/ou conservés en son nom propre mais pour le compte ou au nom ou au profit de la Société, pendant qu'il était employé, et n'accèdera pas ni n'accomplira un quelconque acte qui pourrait directement ou indirectement freiner ou gêner l'accès à ces comptes, comptes de média sociaux, abonnements et/ou inscriptions ;
(e)après avoir rempli les conditions du point (b) ci-dessus (le cas échéant) supprimer de façon définitive les informations relatives à l'activité de Cimpress stockées sur un disque magnétique ou optique ou sur un dispositif ou une mémoire personnelle et tous les documents dérivés de ces sources qui sont en sa possession ou sous sa responsabilité ; et
(f)fournir une déclaration signée indiquant qu'il a respecté l'ensemble de ses obligations en vertu de la présente clause 9 ainsi que la preuve raisonnable de sa conformité si la Société le juge nécessaire.

9.2. Si l'un des transferts visés à l'alinéa 9.1(f) ci-dessus n'a pas été entièrement réalisé le dernier jour de son emploi auprès de la Société, le Salarié signera, après la date de résiliation, les actes et autres documents et prendra les autres mesures que la Société peut raisonnablement requérir à l'occasion pour achever transfert de ces comptes, abonnements et/ou inscriptions.

9.3. Dès la résiliation du présent contrat pour quelque raison que ce soit le Salarié ne sera pas en droit de recevoir une rémunération pour la perte de tous droits ou avantages au titre d'un plan d'actionnariat, d'une prime, d'un plan d'encouragement à long terme ou d'un autre programme de participation aux bénéfices de la Société et/ou d'une Société du Groupe auquel il peut participer.
	ARTICLE 9 - Obligations on Termination

9.1 On termination of this agreement for any reason Employee shall:
(a)immediately deliver to Company all books, materials, files, documents, records, correspondence, papers and information, and copies thereof, on whatever media and wherever located, relating to the business or affairs of Company and any Group Company or its business contacts, any keys, credit card, equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones, pagers, etc.) and any other property of Company and any Group Company [including any car provided to the Employee], which is in his possession or under his control;
(b)immediately deliver to Company all Cimpress building badges and any similar identification, and any other Cimpress-owned or Cimpress-leased property in his possession or control leaving intact all electronic Cimpress documents, records and files, including but not limited to those that he developed or helped to develop during his employment with Company;
(c)have cancelled all accounts for his benefit, if any, in Company’s name, including but not limited to, credit cards, telephone charge cards, cellular phone and/or pager accounts and computer accounts;
(d)have transferred to Company all rights in and control over (including all logins, passwords and the like) any and all accounts, social media accounts, subscriptions and/or registrations, electronic or otherwise, that he opened and/or maintained in his own name, but on behalf of or for the benefit of Company, during the course of his employment and not to access or do anything that may directly or indirectly inhibit or prevent Company from accessing any and all of these accounts, social media accounts, subscriptions and/or registrations;
(e)after complying with (b) above (if applicable) irretrievably delete any information relating to the business of Cimpress stored on any personal magnetic or optical disk or personal memory or device and all matter derived from such sources which is in his possession or under his control; and
(f)provide a signed statement that he/she has complied fully with his obligations under this clause 9 together with such reasonable evidence of compliance as Company may request.

9.2.In the event that any transfers referred to in sub-paragraph 9.1(f) above have not been fully effected as of the last day of his employment with Company, Employee shall execute, after termination date, such instruments and other documents and take such other steps as Company may reasonably request from time to time in order to complete the transfer of any such accounts, subscriptions and/or registrations.

9.3.On termination of this agreement for any reason Employee shall not be entitled to any compensation for the loss of any rights or benefits under any equity plan, bonus, long-term incentive plan or other profit sharing scheme operated by Company and/or any Group Company in which he may participate.

	
		
	ARTICLE 10 - Protection des Données Personnelles

10.1 Le Salarié accepte de communiquer à la Société toutes les données personnelles le/la concernant qui lui sont demandées par la Société et qui sont nécessaires à l’exécution du contrat et à la gestion du personnel.  Le Salarié accepte que les données précitées soient collectées et traitées par la Société à des fins de gestion du personnel, telles que la gestion de la paye, le contrôle d'accès aux locaux, des horaires et de la restauration, la réalisation de fichiers salariés, etc. 

10.2 Le Salarié est informé(e) que toutes les données du type de celles contenues dans le présent contrat, ses annexes et ses avenants (ainsi que leurs mises à jour), doivent obligatoirement être traitées par la Société car elles sont nécessaires à l’exécution du contrat et à la gestion du personnel.

10.3 Le Salarié accepte également que ces données soient transmises à et traitées par l’une quelconque des entités du Groupe auquel appartient la Société si le transfert de ces données se révèle nécessaire à l’exécution du présent contrat et à la gestion de votre dossier personnel.

10.4 Certains de ces destinataires sont situés en dehors de l’Union Européenne, en particulier la société Cimpress USA Inc. dont le siège social est situé aux USA.

10.5 Ces destinataires auront communication des données précitées, en particulier nom et prénom, coordonnées, rémunération et numéro d’identification. La transmission de ces données à l’extérieur de l’Union Européenne a pour seule finalité la gestion du personnel.

10.6 Le Salarié pourra exercer votre droit d’accès et de rectification sur les données le/la concernant, comme le prévoit la loi n°78-17 du 6 janvier 1978, en contactant le département Ressources Humaines de la Société. Au titre du droit d’accès, le Salarié  pourra demander copie de toute donnée personnelle le/la concernant, ainsi que des informations relatives au traitement des données personnelles et aux tiers auxquels lesdites données peuvent être communiquées. Par ailleurs, le Salarié pourra s’opposer pour des raisons légitimes au traitement des données personnelles le/la concernant en contactant le département Ressources Humaines de la Société.
	ARTICLE 10 - Data Privacy

10.1 Employee undertakes to communicate to Company all the personal data relating to him/her which may be requested by Company and which are needed for the execution of the contract and the staff management.  Employee agrees that the data mentioned above will be collected and processed by Company for the purpose of the staff management, such as payroll management, access to the office, working hours, elaboration of staff files, etc.

10.2 Employee is informed that all data such as those in the contract, its addenda and amendments (and their updates), must necessarily be processed by Company as they a necessary to the execution of the contract and to the staff management.

10.3 Employee accepts that all the data be transmitted to and processed by any entity of the Group to which Company belongs if the transfer of these data is necessary to the execution of the contract and to the staff management.

10.4 Some of the recipients are located outside European Union, in particular Cimpress USA Inc. with headquarters located in the USA.

10.5 Those recipients will receive personal data, in particular Employee’s first names and surnames and contact details, remuneration and registration number. The sole purpose of the transmission of this data outside of the European Union is staff management.

10.6 Employee may exercise his/her right of access and modification of his/her personal data, as provided for by French Law number 78-17 dated 6 January 1978, by contacting the Human Resources department of Company. As regards the right of access, Employee may ask for a copy of any of his/her personal data, as well as information in relation to the personal data process and the third parties to whom the personal data may be disclosed. In addition, Employee may deny, with legitimate reasons, the processing of his/her personal data, by contacting the Human Resources department of Company.

	ARTICLE 11 - Intégralité de l’Accord

Le présent contrat et tout document visé à la clause 7.1 constituent l'intégralité de l'accord entre les parties et annule et remplace à compter du 1er juillet 2016 toutes les discussions, correspondance, négociations, dispositions, ententes et accords entre elles. Chaque partie déclare qu'en concluant le présent contrat, elle n'a pas invoqué et ne bénéficiera d'aucun recours eu égard à l'engagement, la promesse, l'assurance, la déclaration, la garantie ou l'entente (par écrit ou non) d'une personne (qu'elle soit partie au présent contrat ou non) relative à l'emploi du Salarié en vertu du présent contrat qui n'est pas explicitement définie dans le présent  contrat  ou dans tous documents référencés dans celui-ci. L'annexe au présent  contrat fait partie intégrante (et est incluse dans le) du présent contrat. 
	ARTICLE 11 - Entire Agreement

This agreement and any document referred to in clause 7.1 constitute the whole agreement between the parties and supersedes as of 1 July 2016 all previous discussions, correspondence, negotiations, arrangements, understandings and agreements between them. Each party acknowledges that in entering into this agreement it has not relied on and shall have no remedy in respect of any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether party to this agreement or not) relating to Employee's employment under this agreement which is not expressly set out in this agreement or any documents referred to in it. The schedule to this agreement form part of (and are incorporated into) this agreement.

	
		
	ARTICLE 12 - Clauses Générales

12.1 Droit applicable et juridiction compétente. Le présent contrat et tout conflit ou toute réclamation résultant de ou en relation avec celui-ci ou son objet ou sa constitution (y compris des conflits ou réclamations non contractuels) sera régi et interprété conformément au droit français. Les parties conviennent irrévocablement que les tribunaux français auront la compétence exclusive pour régler tout conflit ou toute réclamation découlant de ou en lien avec le présent contrat ou son objet ou sa constitution (y compris des conflits ou réclamations non contractuels).

12.2Définitions; Interprétation. « Société du Groupe » ou « Cimpress » désigne la Société, ses Filiales ou les Sociétés Holding périodiques et toute Filiale d'une Société Holding périodique. Sauf indication contraire du contexte, une référence à un genre inclura une référence aux autres genres. Sauf indication contraire du contexte, les mots au singulier comprennent le pluriel et le pluriel comprend le singulier.

12.3 Langue.  La version définitive du présent contrat qui lie les parties est la version française, la version anglaise de ce contrat n’étant fournie qu’à titre d’information. En cas de contradiction entre les versions française et anglaise, la version française prévaudra.

	ARTICLE 12 - Miscellaneous

12.1 Governing Law and Jurisdiction.  This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with French law. The parties irrevocably agree that the courts of France shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).

12.2Defined Terms; Interpretation. “Group Company” or “Cimpress” mean the Company, its Subsidiaries or Holding Companies, from time to time and any Subsidiary of any Holding Company from time to time. Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders. Unless the context otherwise requires, words in the singular include the plural and in the plural include the singular.

12.3 Language.  The definitive version of this agreement that binds the parties is the French language version, the English version being provided for information purposes only. In the event of a contradiction between the two versions, the French version shall prevail.

	En double exemplaire / Signed in duplicate 

Lu et approuvé, bon pour accord

/s/Robert Keane
Pour la Société / For the Company,
Robert Keane
Dûment habilité/ Duly empowered

(Chaque page de ce contrat, de l’annexe 1 et des documents mentionnés à l’article 7.1 doit être paraphée et les signatures ci-dessus doivent être précédées de la mention manuscrite suivante :
« Lu et approuvé, bon pour accord »)
	Fait à / In Paris  
Le / On 16.07.2016

Lu et approuvé, bon pour accord
/s/Ashley Hubka
Ashley Hubka 

(Each page of this contract, annex 1 and the side agreements referred to in clause 7.1 must be initialized and on the last page the above signatures must be preceded by the following handwritten words:
"Lu et approuvé, bon pour accord")

Annex/e 1:
	
		
	

PRIME D'EXPATRIATION

Pour tenir compte de l'importance des déplacements nécessités par vos attributions et eu égard à l'importance des sujétions particulières liées à ces déplacements, vous percevrez en sus de votre salaire de base actuellement fixée à 345,000 € par an, une prime de déplacement à l'étranger, dite "prime d'expatriation".

1- Détermination de la prime de déplacement à l’étranger

Les modalités de calcul et de versement de cette prime sont fixées, sous réserve de modifications ultérieures, comme suit :

- Le montant de l'indemnité journalière sera déterminé en fonction du barème suivant :
Si vous séjournez entre 5 et 10 jours hors de France au cours de la période de référence, le montant de la prime d’expatriation sera de 4,000€ par jour ;
Si vous séjournez entre 10 et 15 jours hors de France au cours de la période de référence, le montant de la prime d’expatriation sera de 4,500€ par jour ;
Si vous séjournez entre 15 et 20 jours hors de France au cours de la période de référence, le montant de la prime d’expatriation sera de 5,000€ par jour ;
Si vous séjournez entre 20 et 25 jours hors de France au cours de la période de référence, le montant de la prime d’expatriation sera de 5,200€ par jour ;
Si vous séjournez plus de 25 jours hors de France au cours de la période de référence, le montant de la prime d’expatriation sera de 5,400€ par jour ;
A la fin de la période de référence, un complément de prime d’expatriation sera versé pour un montant de 1,000€ par jour passé dans un Etat dont le temps de trajet en avion excède 4 heures de vol.

Aucune prime ne sera octroyée si le nombre total de jours passés à l'étranger est inférieur à 5 jours au cours de la période de référence. 
En tout état de cause, le montant total des primes d’expatriation versé au titre d’une période de référence ne pourra excéder 135,000 €. 
La période de référence est définie comme une période de 12 mois commençant à compter du 1er janvier d’une année donnée, soit du 1er janvier au 31 décembre de chaque année.  En cas d’année partielle (mise en place ou rupture du contrat en cours d’année), un « prorata temporis » sera appliqué pour la détermination de la prime d’expatriation versée au titre de ladite période. Ainsi, pour l’année 2016, le nombre de jour minimum sera de 2,5 jours et le montant maximum de prime d’expatriation sera de 67,500€.
Le versement des primes d'expatriation sera également conditionné par le bon accomplissement de vos missions à l’étranger et l’atteinte des objectifs fixés par la Société.
Sur la base du nombre de jours estimés de déplacements professionnels à l’étranger, une prime sera versée mensuellement pour un montant brut de charges sociales et fiscales de 10,000€.  Une régularisation sera faite à la fin de chaque année en fonction du calendrier définitif. Compte tenu du nombre de jours effectivement passés à l’étranger au cours de la période de référence, une régularisation négative pourra être opérée.  Dans ce cas, vous devrez réduire le montant exonéré des primes d’expatriation dans votre déclaration des revenus et reporter le différentiel dans votre rémunération imposable.
	

EXPATRIATION PREMIUM

In order to reflect the importance of travel anticipated and given the importance of the particular constraints connected with these trips, you will receive a foreign travel allowance, called "expatriation premium" in addition to your base salary currently set at 345,000 € per year. 

1- Determination of the foreign travel allowance

The methods of calculation and payment of this premium are set as follow (unless subject to subsequent amendments):

 - The amount of the daily allowance will be determined according to the following bracket :
If you spend between 5 and 10 days outside France during the reference period, the amount of the expatriation premium will be 4,000€ per day;
If you spend between 10 and 15 days outside France during the reference period, the amount of the expatriation premium will be 4,500€ per day;
If you spend between 15 and 20 days outside France during the reference period, the amount of the expatriation premium will be 5,000€ per day;
If you spend between 20 and 25 days outside France during the reference period, the amount of the expatriation premium will be 5,200€ per day;
If you spend more than 25 days outside France during the reference period, the amount of the expatriation premium will be 5,400€ per day;
At the end of the reference period, an additional expatriation premium will be paid for an amount of 1,000€ per day spent in a State where the duration of the air trip exceeds 4 hours. 

No premium shall be granted should the total number of days spent abroad not reach five days during the reference period. 
In any case, the total amount of expatriation premium paid in relation to a reference period would not exceed 135,000 €.
The reference period is defined as a period of 12 months beginning on January 1st of a given year, so from January 1st to December 31st of each year.  In the case of a partial year (beginning or termination of the contract and/or of this addendum during the year, a “prorata temporis” will be applied for the determination of the expatiation premium to be paid for that period. Therefore, for 2016 year, the minimum number of days would be 2,5 days and the maximum amount of expatriation premium would be 67,500€.
The payment of expatriation premiums will also be conditioned by the fulfillment of your missions abroad and achieving the objectives set by the Company.

On the basis of an estimated number of business days outside France, a monthly expatriation premium in the amount of 10,000€ gross of social charges and income tax will be paid.  An adjustment will be made at the end of each year to account for final calendar information.  Depending on the number of days actually spent on business trips outside of France during the reference period, it may be necessary to reduce the amount of the tax exempt premium via your income tax return and to include the differential in taxable compensation.

	
		
	2- Durée du séjour à l’étranger et décompte des jours

Les modalités de gestion des primes d'expatriation sont les suivantes : 

Pour bénéficier du régime des primes d’expatriation,  le déplacement doit être justifié par un séjour sur le territoire étranger d’au moins  24 heures.  

Cette durée s’entend de l’intervalle de temps entre la date d’arrivée dans l’Etat de séjour et la date de départ du pays étranger pour rentrer en France. Le temps de transport ne peut pas être pris en compte à l’aller, ni au retour. 

Le terme « jour » à utiliser, une fois la durée de 24 heures satisfaite, doit être décompté de la façon suivante : 
Le terme « jour » désigne toute journée qu'elle soit ouvrable ou fériée, à l'exception de celles comprises dans la période de congés payés. 
Un jour est considéré comme passé à l'étranger:
soit, lorsqu'il est intégralement passé à l'étranger;
soit lorsque l’arrivée sur le territoire étranger  a lieu le matin avant 12h,
soit, lorsque le départ de l'étranger vers la France a lieu dans l'après-midi après 12h.
En cas de déplacement successifs dans différents Etats sans revenir en France (déplacements inter Etats) la durée du séjour est décomptée à partir de l’arrivée dans le premier Etat et s’achève au départ du dernier Etat.

Le terme « étranger » désigne tout lieu hors France (métropole et départements d'outre-mer) qui relève de la souveraineté d’un Etat ou territoire autre que la 
France. 

Il vous appartiendra d’adresser à votre département Finance - Paie fin décembre de chaque période de référence, le décompte du nombre de jours effectivement passés à l'étranger sur un document interne prévu à cet effet et de garder toute preuve de ces déplacements.

3 - Objet des séjours à l’étranger

Cette prime ne pourra être versée que pour des séjours effectués à l’étranger dans l’intérêt direct et exclusif de la Société (raisons professionnelles se rattachant à l’intérêt de l’entreprise). 

Il est admis que les déplacements au sein des sociétés qui appartiennent au groupe  répondent également à cet objectif (caractère commercial, administratif ou institutionnel, les missions d’audit, ou encore les réunions d’information ou de formation interne). 

4 - Administration et obligations déclaratives

Par ailleurs, vous devez garder tout justificatif de ces déplacements afin de conforter l'exonération d'impôt sur le revenu attachée à ces primes conformément aux dispositions de l'article 81 A II du Code Général des Impôts.

En effet, dans la mesure où ces primes bénéficient d'une exonération d'impôt sur le revenu, il est possible que l'administration fiscale soit amenée à vérifier que vous remplissez bien les conditions d'exonération. Dans la mesure où la Société ne saurait être tenue comme responsable d'une remise en cause de l'exonération des primes, nous vous demandons de veiller à conserver les documents qui justifient de la durée, de la réalité et de l'objet de vos déplacements à l'étranger.

À cet égard,  nous vous indiquons dès à présent que des formalités déclaratives devront être accomplies chaque année lors du dépôt de votre déclaration des revenus. Les primes versées sont en effet prises en compte pour déterminer le taux moyen d’imposition applicable à vos autres revenus. 

Nous vous rappelons cependant que l’exonération d’impôt sur les revenus de ces primes ne pourra s’appliquer que si vous ne bénéficiez pas en même temps du régime des impatriés en application des provisions de l’Article 155B du Code Général des Impôts.

L’objet de cette annexe 1 est de définir les termes et conditions d'octroi des primes d'expatriation. Ces conditions sont renouvelable annuellement par tacite reconduction, sauf décision expresse de la Société.  

La présente annexe 1 est soumise à la loi française, s’applique aux voyages effectués à compter du 1er juillet 2016.

	2- Duration of stay abroad and counting of the days

The expatriation premiums management procedures are set as follow : 

To benefit from the scheme of expatriation premiums, travel must be justified by a stay in the foreign territory of at least 24 hours. 

This time frame refers to the time interval between the date of arrival in the State of abode and date of departure of the foreign country to return in France. Transportation time cannot be taken into consideration (neither going from nor returning to the home State). 

Once the 24hours conditions met, please note the term “day” is used as follow :

The term "day" designates any day whether business day or public holiday, except those included in the period of paid leave.
A day is considered spent abroad:
when fully spent abroad 
when the arrival on the foreign jurisdiction  is  in the morning, before 12am;
when the departure from France to foreign  countries takes place in the afternoon, after 12am.
In case of successive travels to different states without returning to France (interstate travel), the length of stay is counted as from the arrival in the first State and ends at departure from the last state visited.

The term "foreign" refers to any place outside of metropolitan France and overseas French departments that fall under the sovereignty of a State or territory other than France. 

It will be up to you to provide the Finance - Payroll Department at the end of December of each reference period with, the actual countdown of the number of days spent abroad on an internal document provided for this purpose and keep all evidence of these trips.

3 - Purpose of travels abroad 

This premium will only be paid for travels abroad in the direct and exclusive interest of the Company (professional reasons connected with the company's interest).

It is accepted that travel within companies belonging to the group also meet this goal (commercial, administrative or institutional audit missions, or information or internal training meetings).

4 - Administration and reporting obligations

In addition, you should keep all documentation of these trips in order to secure tax exemption on the income tax related to these premiums in accordance with the Article 81 A II of the General Tax Code.

Indeed, since these premiums benefit from an income tax exemption, the French tax authorities might proceed with verifications in order to ensure you do fulfill all conditions for this exemption. To the extent that the company could not be held as responsible for a reconsideration of the exemption of the expatriation premium, we ask you to keep the documents justifying the duration, the reality and the purpose of your trips abroad. 

In this regard, we would like to draw your attention to the fact that specific reporting requirements must be undertaken each year when filing your tax return. Premiums are indeed taken into account in determining the average tax rate applicable to other income.

We would like to highlight the fact that the benefit of the income tax exemption related to these premiums will only apply to a period when you do not also benefit from the impatriate regime under Article 155B of the General Tax Code.  

The purpose of this annex 1 is to define the terms and conditions of the granting of expatriation premiums. It is renewable annually by tacit agreement unless express decision of the company. 

This annex 1 is subject to French law applies to travels as from July 1, 2016.

Annex/e 2: Accords Annexes - Side Agreements

		
	1.
	Invention & Non-Disclosure Agreement

		
	2.
	Non-Competition & Non-Solicitation Agreement

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