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ex10-4.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.4

    IPG
Photonics Corporation

    50
Old Webster Road

    Oxford,
MA 01540

    

    

    STATEMENT
REGARDING CONFIDENTIALITY, NON-COMPETITION

    AND
CONFIRMATORY ASSIGNMENT AGREEMENT

    

    

    Attached
to this statement is your Confidentiality, Non-Competition and Confirmatory
Assignment Agreement (the “Agreement”) with IPG Photonics Corporation, including
its subsidiaries (the “Company”).

    

    Please
take the time to review the Agreement carefully.  It contains material
restrictions on your right to disclose or use, during or after your employment,
certain information and technology learned or developed by you during your
employment, as well as limits on your post-employment activities.  The
Company considers this Agreement to be very important to the protection of its
business.

    

    If you
have any questions concerning the Agreement, you may wish to consult an
attorney.  Managers, legal counsel and others in the Company are not
authorized to give you legal advice concerning the Agreement.

    

    If you
have read and understand the Agreement, and if you agree to its terms and
conditions, please return a fully executed copy of it to the Company, retaining
one copy for yourself.

    

    Reviewed
and Understood:

    

    

    Date:
_________________                                                                                              __________________________

                                                                                  Employee
Name   

      

                                                                       __________________________ 

                            Employee Signature

        
          
             

          

          
             

            
              

            

          

          
             

          

        

    

    IPG
Photonics Corporation

    50
Old Webster Road

    Oxford,
MA 01540

    

    

    CONFIDENTIALITY,
NON-COMPETITION

    AND CONFIRMATORY ASSIGNMENT
AGREEMENT

    

    WHEREAS, IPG Photonics Corporation,
including its subsidiaries (the “Company”) is a developer and manufacturer of
photonics-based components, equipment and systems; and

    

    WHEREAS, the Company's business is
conducted throughout the world and the reputation and goodwill of the Company
are an integral part of its business success.

    

    NOW, THEREFORE, in consideration and as
a condition of any employment (or continued employment) by the Company, Employee
intending to be legally bound agrees as follows:

    

    Section
1.                      Confidentiality.  Employee
represents, warrants and covenants that he or she has not revealed and will not
at any time, whether during or after the termination of my employment, reveal to
anyone outside the Company any of the trade secrets or confidential information
of the Company, its customers or suppliers, or any information received in
confidence from third parties by the Company.  Confidential
information of the Company is any information or material (a) generated or
collected by or used in the operation of the Company that relates to the actual
or anticipated business, marketing and sales, strategic planning, products,
services, research and development, or production and/or manufacturing
processes, of the Company or its customers or suppliers, including its and their
organization, personnel, customers and finances;  or (b) suggested by
or resulting from any task assigned to Employee or work performed by Employee
for or on behalf of the Company.  Employee will deliver to the Company
copies of all confidential information upon the earlier of (a) a request by the
Company, or (b) termination of Employee's employment. Upon termination of
Employee's employment, Employee will not retain any such materials or
copies.

    

    Confidential
Information shall not include (i) any information that is in the public domain
at time of disclosure or thereafter comes into the public domain (other than by
breach of this Agreement by Employee); or (ii) any information which is
disclosed to Employee in good faith by a third party unaffiliated with the
Company with the legal right to make such disclosure; or (iii) any information
which an Officer of the Company authorizes its unrestricted use in
writing.

    

    Further, Employee represents, warrants
and covenants that during my employment he or she did not and will not take, use
or permit to be used any notes, memoranda, reports, lists, records, drawings,
sketches, specifications, software programs, data, documentation or other
materials of any nature relating to any matter within the scope of the business
of the Company or concerning any of its dealings or affairs otherwise than for
the benefit of the Company.  Employee further agrees that he or she
has not used or permitted to be used and shall not, after the termination of my
employment, use or permit to be used any such notes, memoranda, reports, lists,
records, drawings, sketches, specifications, software programs, data,
documentation or other materials, it being agreed that all of the foregoing
shall be and remain the sole and exclusive property of the Company and that
immediately upon the termination of Employee’s employment he or she shall
deliver all of the foregoing, and all copies thereof, to the Company, at its
main office.

    

    Employee understands that the Company
has received and will receive from third parties information that is
confidential or proprietary (“Third-Party Information”) and that is subject to
restrictions on the Company regarding its use and
disclosure.  Employee, both during and after termination of my
employment will hold Third-Party Information in the strictest confidence and
will not disclose or use Third-Party Information except as permitted by the
agreement between the Company and the relevant third party, unless expressly
authorized to act otherwise by the Company.

    

    Employee agrees to report known or
suspected unauthorized disclosures of confidential or proprietary information of
the Company by any other person immediately to an Officer of the
Company.

    

    Employee hereby represents and warrants
that from the time of my first contact or communication with the Company,
Employee has held in strict confidence and in trust for the sole benefit of the
Company all Confidential Information and have not disclosed any Confidential
Information, directly or indirectly, to anyone outside the Company, or used,
copied, published, or summarized any Confidential Information, except to the
extent permitted by this Section 1.  Except as disclosed on Schedule A to this
Agreement, I do not know anything about the Company’s business or Confidential
Information, other than information I have learned from the Company in the
course of being hired or during my employment by the Company.

    

    Section
2.               Non-Competition;
Non-Solicitation.  In view of the fact that any activity of the
Employee in violation of the terms hereof would adversely affect the Company and
its subsidiaries (as defined below), and to preserve the goodwill associated
with the Company's business, the Employee hereby agrees to the following
restrictions on my activities:

    

    (a)           Non-Competition. The
Employee hereby agrees that for one (1) year after the date on which the
Employee's employment with the Company and its subsidiaries terminates for any
reason (the "Non-Competition Period"), Employee will not, without the express
written consent of the Company, directly or indirectly, anywhere in the United
States, Europe or Asia, engage in any activity which is, or participate or
invest in, or provide or facilitate the provision of financing to, or assist
(whether as owner, part-owner, shareholder, member, partner, director, officer,
trustee, employee, agent or consultant, or in any other capacity) any business,
organization or person other than the Company (or any subsidiary of the
Company), whose business, activities, products or services are competitive with
the products/technologies/services of the Company.  The Employee
hereby acknowledges that, because of the global-based nature of the Company's
business, the geographic scope as set forth above is reasonable and fair.
Notwithstanding anything herein to the contrary, the Employee may make passive
investments in any enterprise the shares of which are publicly traded if such
investment constitutes less than three percent of the equity of such
enterprise.

    

    (b)           Non-Solicitation.  The
Employee hereby agrees that during the period commencing on the date hereof and
ending on the date which is eighteen months after the date on which the
Employee's employment with the Company and its subsidiaries terminates for any
reason, he will not, without the express written consent of an Officer of the
Company, (i) hire or engage or attempt to hire or engage for or on behalf
of himself or herself or any such competitor any officer or employee of the
Company or any of its subsidiaries, or any former employee of the Company and
any of its subsidiaries who was employed during the one year period immediately
preceding the date on which the Employee's employment or service relationship
with the Company or any of its subsidiaries was terminated for any reason,
(ii) encourage for or on behalf of himself or any such competitor any such
officer or employee to terminate my relationship or employment with the Company
or any of its subsidiaries, (iii) solicit for or on behalf of himself or
any such competitor any current or prospective client or supplier of the Company
or any of its subsidiaries with whom Employee had contact during employment by
the Company or (iv) divert to any person (as hereinafter defined) any
current or prospective client with whom Employee had contact during employment
by the Company or business opportunity of the Company or any of any of its
subsidiaries.

    

    Neither the Employee nor any business
entity controlled by the Employee is a party to any contract, commitment,
arrangement or agreement which could, following the date hereof, restrain or
restrict the Company or any subsidiary of the Company from carrying on its
business or restrain or restrict the Employee from performing my employment
obligations, and as of the date of this Agreement the Employee has no business
interests whatsoever in or relating to the industries in which the Company and
its subsidiaries currently engage other than Employee's interest in the Company
and other than interests in public companies of less than three
percent.

    

    For purposes of this Agreement, (x) any
reference to the "subsidiaries" of the Company shall be deemed to include all
entities directly or indirectly controlled by it through an ownership of more
than fifty percent (50%) of the voting interests, (y) the term "person" shall
mean an individual, a corporation, an association, a partnership, a limited
liability company, an estate, a trust, and any other entity or organization and
(z) the term “Officer” shall only include individuals with the following job
titles: a Vice President or Chief Executive Officer of IPG Photonics
Corporation, and shall exclude the Employee if Employee is or becomes an
Officer.

    

    Section
3.                      Scope of
Agreement.  The parties acknowledge that the time, scope,
geographic area and other provisions of this Agreement have been specifically
negotiated by sophisticated parties and agree that (a) all such provisions are
reasonable and fair to the parties hereto under the circumstances of the
transactions contemplated hereby, and (b) are given as an integral and essential
part of the transactions contemplated hereby.  The Employee has had
the opportunity to independently consult with legal counsel of Employee’s choice
concerning the reasonableness and fairness of the covenants contained herein,
with specific regard to the business to be conducted by Company and its
subsidiaries, and Employee agrees that the Agreement is intended to be, and
shall be, fully enforceable and effective in accordance with its
terms.

    

    Section
4.                      Assignment of Inventions;
Work for Hire.  Employee hereby confirms, acknowledges and
agrees that all inventions, modifications, discoveries, designs, formulas, developments, improvements,
processes, know-how, technology, ideas or intellectual property rights
whatsoever (collectively, "Developments") that Employee (either alone or with
others) has conceived, made or reduced to practice at any time or times while
employed by the Company or any of its subsidiaries, are the sole and absolute
property of the Company, its successors and assigns.  Employee
acknowledges that all Developments were made as a "work for hire" and all
proprietary rights which the Employee may have acquired in such Developments
were assigned to the Company.  Employee hereby confirms, acknowledges
and agrees that Employee has received mutually-agreed upon compensation from the
Company in consideration for the Company’s ownership rights to the Developments
set forth in this Section 4 and that such consideration is fair and reasonable
and that no further consideration shall be owed to Employee.

    

    Employee will make and maintain
adequate and current records of and communicate to the Company (or any persons
designated by it) promptly and fully each Development without publishing the
same.  Further, Employee will, both during and after the period of my
employment by the Company, execute all appropriate documents and give the
Company all assistance it reasonably requires to perfect, protect and use its
rights to the Developments.  In the event the Company is unable, after
reasonable effort, to secure Employee’s signature on any letter patent,
copyright or other analogous protection relating to a Development, Employee
hereby irrevocably appoints the Company and its duly authorized officers and
agents as Employee's agent and attorney-in-fact, to execute and file any such
application or applications and to do all other lawfully permitted acts to
further the prosecution, issuance, sale, transfer, license and assignment of
letters patent, copyright or other protection with the same legal force and
effect as if signed by Employee.

    

    Employee has attached hereto, as Schedule A, a list
describing all Inventions which were made by Employee prior to my employment by
the Company (“Prior Inventions”), which belong to Employee and which relate in
any way to the Company’s business, products, services, research or development,
and which are not assigned to the Company.  If no such list is
attached or if the list is not completed, Employee represents that there are no
such Prior Inventions.  If in the course of employment by the Company,
Employee incorporates into a Company product or process a Prior Invention, the
Company is hereby granted and shall have a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to make, have made, modify, use and
sell such Prior Invention as part of or in connection with such product or
process.

    

    Section
5.                      Use of Voice, Image and
Likeness; Publication of Statements.  Employee gives the
Company permission to use Employee's voice, image or likeness, with or without
using Employee's name, for the purposes of advertising and promoting the
Company, except to the extent expressly prohibited by law. To ensure that the
Company delivers a consistent message about its products, services and
operations to the public, and further in recognition that even positive
statements may have a detrimental effect on the Company in certain securities
transactions and other contexts, Employee agrees that any statement about the
Company which he or she creates, publishes or posts during Employee's period of
employment and for months thereafter, on any media accessible by the public,
including but not limited to electronic bulletin boards and Web-based chat
rooms, shall first be reviewed and approved by an officer of the Company before
it is released in the public domain.

    

    Section
6.                      Termination; At-Will
Employment.  Employee hereby acknowledges and agrees that all
personal property, including, without limitation, all source code listings,
notebooks, books, manuals, records, models, drawings, reports, notes, contracts,
lists blueprints, and other documents or materials or copies thereof, all
equipment furnished to or prepared by Employee in the course of or incident to
my employment, and all Confidential Information belong to the Company and will
be promptly returned to the Company upon termination of my employment with the
Company.  Following any termination of employment, Employee will not
retain any written or tangible material containing any Confidential Information
or information pertaining to any Development.  Employee understands
that Employee’s obligations contained herein will survive the termination of
Employee’s employment and that Employee will continue to make all disclosures
required of Employee under Section 4.  In the event of the termination
of employment, Employee agrees, if requested by the Company, to sign and deliver
the Termination Certificate attached as Schedule
B.  Employee further agrees that after the termination of
Employee’s employment with the Company, Employee will not enter into any
agreement that conflicts with Employee’s obligations under this Agreement and
Employee will inform any subsequent employers of my obligations under this
Agreement.  EMPLOYEE RECOGNIZES THAT NOTHING IN THIS AGREEMENT SHALL
BE CONSTRUED TO IMPLY THAT THE TERM OF MY EMPLOYMENT IS OF ANY DEFINITE
DURATION. This Agreement should not be construed as a contract for continued
employment.   Unless otherwise agreed to in a writing signed by
an Officer of the Company, Employee’s employment with the Company is at-will,
and Employee or the Company can terminate Employee’s employment at any time,
with or without cause or notice.

    

    Section
7.                      No Conflicting
Agreements.  Employee agrees not to disclose to the Company or
its subsidiaries, or use in Employee’s work for the Company, any confidential
information and/or trade secrets belonging to others, including without
limitation, Employee’s prior employers, or any prior inventions made by Employee
and which the Company or its subsidiaries is not otherwise legally entitled to
learn of or use.  Employee represents and warrants that (a) Employee
returned all properly and confidential information belonging to all prior
employers, if any and (b) performance of the terms of this Agreement will not
breach any of Employee’s agreements to keep in confidence proprietary
information acquired by Employee in confidence or in trust prior to employment
by the Company. Employee certifies that Employee is not subject to any oral or
written covenants and/or obligations that would prevent Employee from fully
performing Employee’s duties for the Company or conflict with this
Agreement.  Employee also agrees that the Company may contact any
employer or prospective employer of Employee to inform them of my obligations
under this Agreement and that, for a period of five years after termination of
employment with the Company for any reason, Employee shall affirmatively provide
this Agreement to all subsequent employers.

    

    Section
8.                      Certain Remedies;
Severability.  It is specifically understood and agreed that
any breach of the provisions of this agreement by the Employee will result in
irreparable injury to the Company and its subsidiaries, that the remedy at law
alone will be an inadequate remedy for such breach and that, in addition to any
other remedy it may have, the Company its subsidiaries shall be entitled to
enforce the specific performance of this agreement by the Employee through both
temporary and permanent injunctive relief without the necessity of proving
actual damages, but without limitation of their right to damages and any and all
other remedies available to them, it being understood that injunctive relief is
in addition to, and not in lieu of, such other remedies.

    

    In the event that any covenant
contained in this Agreement shall be determined by any court of competent
jurisdiction to be unenforceable by reason of its extending for too great a
period of time or over too great a geographical area or by reason of its being
too extensive in any other respect, it shall be interpreted to extend only over
the maximum period of time for which it may be enforceable and/or over the
maximum geographical area as to which it may be enforceable and/or to the
maximum extent in all other respects as to which it may be enforceable, all as
determined by such court in such action.  The existence of any claim
or cause of action which the Employee may have against the Company or any of its
subsidiaries shall not constitute a defense or bar to the enforcement of any of
the provisions of this Agreement.  Employee agrees that Employee will
not assert, and it should not be considered, that any provision contained in
this Agreement prevents him or her from earning a living or is otherwise void,
voidable, or unenforceable or should be voided or held to be
unenforceable.

    

    Section
9.                      Jurisdiction.  The
parties hereby consent to the jurisdiction of the Superior Court of the
Commonwealth of Massachusetts and the United States District Court for the
District of Massachusetts.  Accordingly, with respect to any such
court action, Employee (a) submits to the personal jurisdiction of such courts;
(b) consents to service of process; and (c) waives any other requirement or
objection (whether imposed by statute, rule of court, or otherwise) with respect
to personal jurisdiction, service of process or venue.  In the event
that the courts of any state shall hold such covenants unenforceable (in whole
or in part) by reason of the breadth of such scope or otherwise, it is the
intention of the parties hereto that such determination shall not bar or in any
way affect the right of the Company to the relief provided for herein in the
courts of any other state within the geographic scope of such covenants, as to
breaches of such covenants in such other respective states, the above covenants
as they relate to each state being, for this purpose, severable into diverse and
independent covenants.

     

    Section
10.                      Notices.  Any
notice or demand which is required or provided to be given under this Agreement
shall be deemed to have been sufficiently given and received for all purposes
when delivered by hand, telecopy, telex or other method of facsimile, or five
days after being sent by certified or registered mail, postage and charges
prepaid, return receipt requested, or two days after being sent by overnight
delivery providing receipt of delivery, to the following
addresses:  if to the Company, 50 Old Webster Road, Oxford, MA 01540,
Facsimile:  508-373-1134, Attn: General Counsel, or at any other
address designated by the Company to the Employee in writing; and if to the
Employee, to the home address of Employee as designated in the current personnel
files maintained by the Company, or at any other address designated by the
Employee to the Company in writing.

    

    Section
11.                      Miscellaneous.  This
Agreement shall be governed by and construed under the laws of The Commonwealth
of Massachusetts (without regard to its conflict of laws principles) and shall
not be modified or discharged in whole or in part except by an agreement in
writing signed by the Company and the Employee.  The failure of any of
the parties to require the performance of a term or obligation or to exercise
any right under this Agreement or the waiver of any breach hereunder shall not
prevent subsequent enforcement of such term or obligation or exercise of such
right or the enforcement at any time of any other right hereunder or be deemed a
waiver of any subsequent breach of the provision so breached, or of any other
breach hereunder.  Employee's obligations under this Agreement shall
survive the termination of Employee's employment regardless of the manner of
such termination and shall be binding upon Employee's heirs, executors,
administrators and legal representatives.  The Company shall have the
right to assign this Agreement without the Employee’s prior notice or approval
to its affiliates, successors and assigns but this Agreement may not be assigned
by the Employee.  This Agreement supersedes all prior understandings
and agreements between the parties relating to the subject matter
hereof.

    

    I HAVE READ THIS AGREEMENT CAREFULLY
AND UNDERSTAND ITS TERMS.  I HAVE COMPLETELY NOTED ON SCHEDULE A TO THIS
AGREEMENT ANY CONFIDENTIAL INFORMATION, IDEAS, PROCESSES, INVENTIONS,
TECHNOLOGY, WRITINGS, PROGRAMS, DESIGNS, FORMULAS, DISCOVERIES, PATENTS,
COPYRIGHTS, OR TRADEMARKS, OR IMPROVEMENTS, RIGHTS, OR CLAIMS RELATING TO THE
FOREGOING, THAT I DESIRE TO EXCLUDE FROM THIS AGREEMENT.

    

     

    Date:
__________
_______                                                                                               __________________________

                                                                                  Employee
Name   

      

                                                                       __________________________ 

                            Employee Signature

        
          
            
                                                                     

            

             

          

          
             

            
              

            

          

          
             

          

        

    

    IPG
Photonics Corporation

    50
Old Webster Road

    Oxford,
MA 01540

    

    

    SCHEDULE
A

    

    

    EMPLOYEE’S
DISCLOSURE

    

    CONFIDENTIALITY,
NON-COMPETITION

    AND
CONFIRMATORY ASSIGNMENT AGREEMENT

    

    

    
      	
                
      1.  

            	
              
                Confidential
      Information.  Except as set forth below, I acknowledge
      that at this time I know nothing about the business or Confidential
      Information of the Company, other than information I have learned from the
      Company in the course of being
hired:

              

            

    

           
                                                              
 

    
 

    
      	
              2.  

            	
              Prior
      Inventions.  Except as set forth below, there are no
      ideas, processes, inventions, technology, writings, programs, designs,
      formulas, discoveries, patents, copyrights, or trademarks, or any claims,
      rights, or improvements to the foregoing, that I wish to exclude from the
      operation of this Agreement:

            

    

                                                                   

    

    

    Date:    _____________________                                                                       __________________________

                                                                                  Employee
Name   

      

                                                                       __________________________ 

                            Employee
Signature                

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IPG
Photonics Corporation

    50
Old Webster Road

    Oxford,
MA 01540

    

    

    SCHEDULE
B

    

    

    TERMINATION
CERTIFICATE CONCERNING

    IPG
PHOTONICS CORPORATION

    CONFIDENTIAL
INFORMATION AND DEVELOPMENTS

    

    This is to certify that I have returned
all personal property of IPG Photonics Corporation, including its subsidiaries
(the “Company”), including, without limitation, all source code listings, books,
manuals, records, models, drawings, reports, notes, contracts, lists,
blueprints, and other documents and materials, Confidential Information, and
equipment furnished to or prepared by me in the course of or incident to my
employment with the Company, and that I did  not make or distribute
any copies of the foregoing.

    

    I further certify that I have reviewed
the Confidentiality, Non-Competition and Confirmatory Assignment Agreement
signed by me (the “Agreement”) and that I have complied with and will continue
to comply with all of its terms, including, without limitation, (i) the
reporting of any idea, process, invention, technology, writing, program, design,
formula, discovery, patent, copyright, or trademark, or any improvement, rights,
or claims related to the foregoing, conceived or developed by me and covered by
the Agreement and (ii) the preservation as confidential of all Confidential
Information pertaining to the Company.  This certificate in no way
limits my responsibilities or the Company’s rights under the
Agreement.

    

    On termination of my employment with
the Company, I will be employed by _______________________ in the
___________________________division and I will be working in connection with the
following projects:

    

    Generally
Describe the Projects:

     

    __________________________________________________________________________________________________________________________________________

    

    

    

    Date:
__________ _______                                      __________________________

                                                                                Employee
Name   

    

                                                                     __________________________ 

                          Employee
Signatureex10-5.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.5

     

     

     

    Amendment
to 2000 Incentive Compensation Plan

     

     

     

     

    Section
4.2 of the 2000 Incentive Compensation Plan was amended effective January 1,
2008 by replacing Section 4.2 of such Plan in its entirety with the following
new Section 4.2:

     

    "4.2                      Award
Agreement.  Each Award granted under the Plan shall be
evidenced by an Award Agreement; provided, however, that in the event of any
conflict between a provision of the Plan and any provision of an Award
Agreement, the provision of the Plan shall prevail."

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