Document:

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                                                                   Exhibit 10(p)
                            ESB financial corporation
                          DIRECTOR RETIREMENT AGREEMENT

        THIS AGREEMENT is made this ___ day of _______, 2002, by and between ESB
Financial Corporation, located in Ellwood City, Pennsylvania ("ESB Financial"),
ESB Bank, F.S.B., a wholly-owned subsidiary of ESB Financial, also located in
Ellwood City, Pennsylvania (the "Bank"), and *NAME** (the "Director"), intending
to be legally bound hereby. ESB Financial and the Bank are collectively referred
to herein as the "Corporation."

                                  INTRODUCTION

        To help attract and retain quality Board members and to promote orderly
succession of the Board, the Corporation is willing to provide retirement
benefits to the Director. The Corporation will pay the retirement benefits from
its general assets according to the terms of this Agreement. Such benefits will
be paid by ESB Financial or the Bank, as applicable, based on where the fees
were earned by the Director.

                                    AGREEMENT

        The Director and the Corporation agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

        Whenever used in this Agreement, the following words and phrases shall
have the meanings specified:

     1.1  "Base Board Fees" means the regular monthly Bank and ESB  Financial
board fees and does not include committee fees, advisory board fees, liaison
fees or other income that might be received by the Director.

     1.2  "Change in Control of the Corporation" means a change in control of a
nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of
1934, as amended ("Exchange Act"), or any successor thereto, whether or not the
Corporation is registered under the Exchange Act; provided that, without
limitation, such a change in control shall be deemed to have occurred if (i) any
"person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)
is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Corporation
representing 25% or more of the combined voting power of the Corporation's then
outstanding securities; or (ii) during any period of two consecutive years,
individuals who at the beginning of such period constitute the Board

                                        1

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of Directors of the Corporation cease for any reason to constitute at least a
majority thereof unless the election, or the nomination for election by
stockholders, of each new director was approved by a vote of at least two-thirds
of the directors then still in office who were directors at the beginning of the
period.

     1.3  "Code" means the Internal Revenue Code of 1986, as amended.

     1.4  "Early Termination" means the Director has met the eligibility
requirements described in Article 2 but terminates service before Normal
Retirement Age for any reason other than following a Change in Control.

     1.5  "Early Termination Date" means the month, day and year in which Early
Termination occurs.

     1.6  "Effective Date" means December 1st, 2002.

     1.7  "Normal Retirement Age" means the Director's 75th birthday.

     1.8  "Plan Year" means the calendar year. In the year of inception, the
Plan Year commences on the Effective Date of this Agreement and ends on December
31st of the same year.

     1.9  "Termination for Cause" has the meaning set forth in Section 6.2.

     1.10 "Termination of Service" means that the Director ceases to be a member
of the Board of the Bank or ESB Financial for any reason other than by reason of
a leave of absence which is approved by the Corporation. For purposes of this
Agreement, if there is a dispute over the service status of the Director or the
date of the Director's Termination of Service, the Corporation shall have the
sole and absolute right to decide the dispute.

     1.11 "Years of Service" means the total number of continuous years of
service as a Director of the Bank or ESB Financial, inclusive of any approved
leaves of absences and service as a member of the Board of Directors of any bank
acquired by the Bank or ESB Financial; provided, however, that a year of service
as a director of both the Bank and ESB Financial concurrently shall only count
as one year of service.

                                    ARTICLE 2
                           ELIGIBILITY TO PARTICIPATE

     To be entitled to any benefit under this retirement plan, the Director must
have a minimum of 5 years of service as a director of the Bank or ESB Financial
(as opposed to service as a director of any bank acquired by the Bank or ESB
Financial) and a minimum of 10 total Years of service.

                                        2

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                                    ARTICLE 3
                               RETIREMENT BENEFITS

     3.1  Annual Normal Retirement Benefit. If the Director remains in
continuous service as a member of the Board of the Bank or ESB Financial from
the Effective Date of this Agreement until Normal Retirement Age, the
Corporation shall pay to the Director the benefit described in this Section 3.1
in lieu of any other benefit under this Agreement.

          3.1.1    Amount of Benefit. The Annual Normal Retirement Benefit under
   this Section 3.1 will be determined using the following formula:

                   The Director's Base Board Fees earned during the last full
   calendar year prior to his retirement date, multiplied by a ratio ranging
   from 25% to 50% based on the Director's total Years of Service as follows:

       Years of Service                    Retirement Percentage
       ----------------                    ---------------------
               10                                      25.0%
               11                                      27.5%
               12                                      30.0%
               13                                      32.5%
               14                                      35.0%
               15                                      37.5%
               16                                      40.0%
               17                                      42.5%
               18                                      45.0%
               19                                      47.5%
               20 or more                              50.0%

          3.1.2    Payment of Benefit. The Corporation shall pay the annual
   benefit to the Director in equal monthly installments on the first day of
   each month commencing with the month following the Director's Termination of
   Service and continuing for the 59 months that follow.

     3.2  Early Termination Benefit. Upon Early Termination, the Corporation
shall pay to the Director the benefit described in this Section 3.2 in lieu of
any other benefit under this Agreement.

          3.2.1    Amount of Benefit. The benefit under this Section 3.2 is the
     Early Termination Annual Benefit set forth in Schedule A for the Plan Year
     ended immediately 3

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       prior to the Early Termination Date.

          3.2.2    Payment of Benefit. The Corporation shall pay the benefit to
     the Director (or his beneficiary if Termination of Service was due to
     death)in a lump sum payment within 60 days of the Director's Early
     Termination Date.

     3.3  Change in Control Annual Benefit. If the Director is in the active
service of the Corporation at the time of a Change in Control, and does not
resign his service with the Corporation prior to the consummation of the
transaction which constitutes the Change in Control, the Corporation shall pay
to the Director the benefit described in this Section 3.3 in lieu of any other
benefit under this Agreement.

          3.3.1    Amount of Benefit. The annual benefit under this Section 3.3
     is the Director's Base Board Fees earned during the last full calendar year
     prior to consummation of the Change in Control multiplied by 50%.

          3.3.2    Payment of Benefit. The Corporation shall pay the annual
     benefit to the Director in equal monthly installments commencing on the
     first day of the month following consummation of the Change in Control and
     continuing for the 59 months that follow.

                                    ARTICLE 4
                                 DEATH BENEFITS

     4.1  Death During Benefit Period. If the Director dies after the benefit
payments have commenced under this Agreement but before receiving all such
payments, the Corporation shall pay the remaining benefits to the Director's
beneficiary at the same time and in the same amounts they would have been paid
to the Director had the Director survived.

     4.2  Death Before Benefit Payments Commence. If the Director is entitled to
benefit payments under this Agreement, but dies prior to the commencement of
said benefit payments, the Corporation shall pay the benefit payments to the
Director's beneficiary that the Director was entitled to prior to death except
that the benefit payments shall commence on the first day of the month following
the date of the Director's death.

                                        4

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                                    ARTICLE 5
                                  BENEFICIARIES

     5.1  Beneficiary Designations. The Director shall designate a beneficiary
by filing a written designation with the Corporation. The Director may revoke or
modify the designation at any time by filing a new designation. However,
designations and revocations or modifications of designations shall only be
effective if they are filed with the Corporation as a written document, signed
by the Director and accepted by the Corporation during the Director's lifetime.
The Director's beneficiary designation shall be deemed automatically revoked if
the beneficiary predeceases the Director, or if the Director names a spouse as
beneficiary and the marriage is subsequently dissolved. If the Director dies
without a valid beneficiary designation, all payments shall be made to the
Director's estate.

     5.2  Facility of Payment. If a benefit is payable to a minor, to a person
declared incapacitated, or to a person incapable of handling the disposition of
his or her property, the Corporation may pay such benefit to the guardian, legal
representative or person having the care or custody of such minor, incapacitated
person or incapable person. The Corporation may require proof of incapacity,
minority or guardianship as it may deem appropriate prior to distribution of the
benefit. Such distribution shall completely discharge the Corporation from all
liability with respect to such benefit.

                                    ARTICLE 6
                               GENERAL LIMITATIONS

     6.1  Excess  Parachute or Golden  Parachute  Payment.  Notwithstanding  any
provision of this Agreement to the contrary, the Corporation shall not pay any
benefit under this Agreement to the extent the benefit would be a parachute
payment under Section 280G of the Code or would be a prohibited golden parachute
payment pursuant to 12 C.F.R. Section. 359.2 and for which the appropriate
federal banking agency has not given written consent to pay pursuant to 12
C.F.R. Section. 359.4.

     6.2  Termination for Cause. Notwithstanding any provision of this Agreement
to the contrary, the Corporation shall not pay any benefit under this Agreement
if the Corporation terminates the Director's service for:

          6.2.1    Gross negligence or gross neglect of duties;

          6.2.2    Commission of a felony or of a gross misdemeanor involving
     moral turpitude; or

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          6.2.3    Fraud, disloyalty, dishonesty or willful violation of any law
     or significant Corporation policy committed in connection with the
     Director's service and resulting in an adverse effect on the Corporation.

     6.3  Removal. Notwithstanding any provision of this Agreement to the
contrary, the Corporation shall not pay any benefit under this Agreement if the
Director is subject to a final removal or prohibition order issued by an
appropriate federal banking agency pursuant to Section 8(e) of the Federal
Deposit Insurance Act.

                                    ARTICLE 7
                          CLAIMS AND REVIEW PROCEDURES

     7.1  Claims  Procedure.  A  Director  or  beneficiary  ("claimant")  who
has not received benefits under the Agreement that he or she believes should be
paid shall make a claim for such benefits as follows:

          7.1.1    Initiation - Written Claim. The claimant initiates a claim by
     submitting to the Bank a written claim for the benefits.

          7.1.2    Timing of Bank Response. The Bank shall respond to such
     claimant within 90 days after receiving the claim. If the Bank determines
     that special circumstances require additional time for processing the
     claim, the Bank can extend the response period by an additional 90 days by
     notifying the claimant in writing, prior to the end of the initial 90-day
     period, that an additional period is required. The notice of extension must
     set forth the special circumstances and the date by which the Bank expects
     to render its decision.

          7.1.3    Notice of Decision. If the Bank denies part or all of the
     claim, the Bank shall notify the claimant in writing of such denial. The
     Bank shall write the notification in a manner calculated to be understood
     by the claimant. The notification shall set forth:

                   7.1.3.1  The specific reasons for the denial,

                   7.1.3.2  A reference to the specific provisions of the
          Agreement on which the denial is based,

                   7.1.3.3  A description  of any additional  information or
          material necessary for the claimant to perfect the claim and an
          explanation of why it is needed,

                   7.1.3.4  An explanation of the Agreement's  review
          procedures and the time limits applicable to such procedures, and

                   7.1.3.5  A statement of the claimant's right to bring a civil
          action under ERISA Section 502(a) following an adverse benefit
          determination on review.

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     7.2  Review  Procedure.  If the  Bank  denies  part or all of the  claim,
the claimant shall have the opportunity for a full and fair review by the Bank
of the denial, as follows:

          7.2.1    Initiation - Written Request. To initiate the review, the
     claimant, within 60 days after receiving the Bank's notice of denial, must
     file with the Bank a written request for review.

          7.2.2    Additional Submissions - Information Access. The claimant
     shall then have the opportunity to submit written comments, documents,
     records and other information relating to the claim. The Bank shall also
     provide the claimant, upon request and free of charge, reasonable access
     to, and copies of, all documents, records and other information relevant
     (as defined in applicable ERISA regulations) to the claimant's claim for
     benefits.

          7.2.3    Considerations on Review. In considering the review, the
     Bank shall take into account all materials and information the claimant
     submits relating to the claim, without regard to whether such information
     was submitted or considered in the initial benefit determination.

          7.2.4    Timing of Bank Response. The Bank shall respond in writing
     to such claimant within 60 days after receiving the request for review. If
     the Bank determines that special circumstances require additional time for
     processing the claim, the Bank can extend the response period by an
     additional 60 days by notifying the claimant in writing, prior to the end
     of the initial 60-day period, that an additional period is required. The
     notice of extension must set forth the special circumstances and the date
     by which the Bank expects to render its decision.

          7.2.5    Notice of Decision. The Bank shall notify the claimant in
     writing of its decision on review. The Bank shall write the notification in
     a manner calculated to be understood by the claimant. The notification
     shall set forth:

                   7.2.5.1  The specific reasons for the denial,

                   7.2.5.2  A  reference  to the  specific  provisions  of the
          Agreement on which the denial is based,

                   7.2.5.3  A statement that the claimant is entitled to
          receive, upon request and free of charge, reasonable access to, and
          copies of, all documents, records and other information relevant to
          the claimant's claim for benefits, and

                   7.2.5.4  A statement of the claimant's right to bring a civil
          action under ERISA Section 502(a).

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                                    ARTICLE 8
                            AMENDMENT AND TERMINATION

     This Agreement may be amended or terminated only by a written agreement
signed by the Corporation and the Director, except as provided in Article 6.

                                    Article 9

                                  Miscellaneous

     9.1  Binding  Effect.  This  Agreement  shall bind the  Director  and
the Corporation, and their successors, beneficiaries, survivors, executors,
administrators and transferees.

     9.2  No Guarantee of Service. This Agreement is not a service policy
or contract. It does not give the Director the right to remain a member of the
Board of Directors of the Corporation, nor does it interfere with the
Corporation's right to terminate the Director's service. It also does not
require the Director to remain a Board member nor interfere with the Director's
right to terminate service at any time.

     9.3  Non-Transferability.  Benefits  under  this  Agreement  cannot
be sold, transferred, assigned, pledged, attached or encumbered in any manner.

     9.4  Tax  Withholding.  The  Corporation  shall  withhold any taxes
that are required to be withheld from the benefits provided under this
Agreement.

     9.5  Applicable  Law.  The  Agreement  and  all  rights  hereunder
shall be governed by the laws of the Commonwealth of Pennsylvania, except to the
extent preempted by the laws of the United States of America.

     9.6  Reorganization. The Corporation shall not merge or consolidate
into or with another company, or reorganize, or sell substantially all of its
assets to another company, firm or person unless such succeeding or continuing
company, firm or person agrees to assume and discharge the obligations of the
Corporation under this Agreement.

     9.7  Unfunded Arrangement. The Director and beneficiary are general
unsecured creditors of the Corporation for the payment of benefits under this
Agreement. The benefits represent the mere promise by the Corporation to pay
such benefits. The rights to benefits are not subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance,
attachment, or garnishment by creditors. Any insurance on the Director's life is
a general asset of the Corporation to which the Director and beneficiary have no
preferred or secured claim.

     9.8  Entire  Agreement.  This  Agreement  constitutes  the entire
agreement between the Corporation and the Director as to the subject matter
hereof. No rights are granted to the

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Director by virtue of this Agreement other than those specifically set forth
herein.

     9.9  Administration.  The  Corporation  shall have powers which are
necessary to administer this Agreement, including but not limited to:

          9.9.1    Interpreting the provisions of the Agreement;

          9.9.2    Establishing and revising the method of accounting for the
     Agreement;

          9.9.3    Maintaining a record of benefit payments; and 9.9.4
     Establishing rules and prescribing any forms necessary or desirable to
     administer the Agreement.

     IN WITNESS WHEREOF, the Director and a duly authorized officer of ESB Bank,
F.S.B. have signed this Agreement.

DIRECTOR:                                    BANK:
                                             ESB Bank, F.S.B.

                                         By
---------------------------------          -------------------------------------
*Name**
                                             Title
                                                   -----------------------------

     By execution hereof, ESB Financial Corporation consents to and agrees to be
bound by the terms and conditions of this Agreement.

ATTEST:                                      CORPORATION:
                                             ESB Financial Corporation

                                         By
---------------------------------          -------------------------------------
                                             Title
                                                   -----------------------------

                                        9

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                             BENEFICIARY DESIGNATION

                            ESB financial corporation
                          DIRECTOR RETIREMENT AGREEMENT

                                     [Name]

I designate the following as beneficiary of any death benefits under the ESB
Financial Corporation Director Retirement Agreement:

Primary:  ______________________________________________________________________

________________________________________________________________________________

Contingent:  ___________________________________________________________________

________________________________________________________________________________

Note: To name a trust as  beneficiary,  please  provide the name of the
Trustee(s) and the exact name and date of the trust agreement.

I understand that I may change these beneficiary designations by filing a new
written designation with the Corporation. I further understand that the
designations will be automatically revoked if the beneficiary predeceases me,
or, if I have named my spouse as beneficiary, in the event of the dissolution of
our marriage.

Signature
         --------------------------------

Date
    -------------------------------------

Accepted by the Corporation this ______ day of _________________, 2002.

By
  ---------------------------------------

Title
      -----------------------------------

                                       10Service Contract between the Company and R.L. van Iperen

  Exhibit 4(a)
  
 PERSONAL
 Mr R.L. van Iperen
Alice Nahonlei 22
2900 Schoten
Belgium
 Our ref.: PE/CJS/3900
 Venlo, February 1, 1995
 Dear Mr Van Iperen,
 As you know, we will be proposing to the General Meeting of Shareholders of Océ-van der Grinten N.V., to be held on April 12, 1995, that with
effect from May 1, 1995, you will be appointed as Manager (member of the Board of Executive Directors) of Océ-van der Grinten N.V. We also propose that, as from the same date and after receiving the advice of the Works Council, you will be
appointed as a Manager (Director) of Océ-Nederland B.V. If the two appointments are effectuated as at the said date, your detachment contract dated October 8, 1992 (ROM/MJO/1485), your service contract with Océ-Belgium NV/SA, as laid down
in broad outline in our letter of July 7, 1992 (RVL/ECR/2045), and your post as director of Interservices – as set out in our letter of April 23, 1993 (AJP/GRJ/1246) – will terminate with effect from April 30, 1995.
 In the event that your appointment is not ratified by the General Meeting of Shareholders, we will make a new and appropriate arrangement with you, whilst taking all the relevant circumstances into
account.
 On the assumption that the proposed appointments will become effective as at May 1, 1995, I would like to draw your attention to the following points:
 A.        The proposal for the allocation of responsibilities within
the Board of Executive Directors (enclosed as attachment I) has been discussed within the Board of Supervisory Directors and has been approved by them.
 B.        With regard to your powers of representation as a Manager of Océ companies, as provided for in the Articles of Association,
the provisions set out in Attachment II are applicable.
 C.        Your remuneration as a Manager of Océ-van der Grinten N.V. and of Océ-Nederland B.V. will be paid by Océ-Nederland B.V. in conformity with Executive Board
Scheme C (see attachment III).
 To sum up, this means:
 
 

  •          Your basic annual salary amounts to NLG 360,000 with effect from May 1, 1995 (i.e. NLG 30,000 per month).
 •          For the entire 1995 financial year you will
receive a bonus in accordance with the bonus percentage table pertaining to Executive Board Scheme C and based on an annual salary of NLG 360,000.
 •          The integral performance bonus plan is no longer applicable to you, with retroactive
effect as from December 1, 1994.
 •          The allowance for representation costs for 1995 for members of the Board of Executive Directors amounts to NLG 14,266 on an annual basis. In 1995 you will receive
8/12 of this, i.e. NLG 9,511. Of this amount, NLG 491 will be paid out gross, and NLG 9,020 net.
 We are sending you
this letter and the attachments in duplicate. Please would you sign one copy of each document as ‘seen and agreed’ to signify your agreement with the contents thereof, then sign each page with your initials and return the copy to
us.
 We wish you much success in your new post.
 Yours sincerely,
Océ-van der
Grinten N.V.
  

	  
 	  
 	  
 	 Seen and agreed:
 
	 
 /s/ H.B. VAN LIEMT
 	  
 	  
 	 
 /s/ R.L. VAN IPEREN
 
	 
 	  
 	  
 	 
 
	 H.B. van Liemt
 Chairman,
 Board of Supervisory
Directors
 	  
 	  
 	 R.L. van Iperen
 

 
  

	 Attachment I
 	  
 	 Allocation of responsibilities, Board of Executive Directors
 	  
 
	 Attachment II
 	  
 	 Authority to sign by Managers (Directors) of Dutch NVs and BVs
 	  
 
	 Attachment III
 	  
 	 Remuneration and other employment conditions, Executive Board Scheme C
 	  
 
	 Attachment IIIA
 	  
 	 Bonus percentage table C
 	  
 
	 Attachment IIIB
 	  
 	 Car lease scheme category A
 	  
 
	 Attachment IIIC
 	  
 	 Secrecy obligation Océ-van der Grinten N.V.
 	  
 
	 Attachment IIID
 	  
 	 Secrecy obligation Océ-Nederland B.V.
 	  
 
	 Attachment IIIE
 	  
 	 Non-competition clause Océ-van der Grinten N.V.
 	  
 
	 Attachment IIIF
 	  
 	 Non-competition clause Océ-Nederland B.V.
 	  
 

 
 

  

 
Attachment II 
 
From: H.B. van Liemt 
 
To: R.L. van Iperen 
 
Re: Authority to sign by Managers (Directors) of Dutch NVs (public limited

companies) and BVs (private limited companies) 
 
The Netherlands Civil Code (Book II, Articles 130 and 240) stipulates that an N.V./B.V. is in all cases represented as
against third parties by each of the Managers (Directors) acting separately, except where the Articles of Association set the condition that the company can in all cases only be lawfully represented as against third parties by two or more Managers
acting jointly. 
 
The Articles of Association of the Dutch
Océ companies stipulate that each Manager represents the company separately, but that – in the case where there are several Managers of a B.V. – he must act together with another Manager in respect of every action or transaction in
excess of a value mentioned in the Articles of Association, and that he may sometimes require the approval of the Supervisory Directors or shareholders, for example for the purchase of immovable property and the designation of authorised
signatories. 
 
According to the law it is not always possible to
rely on this provision in the Articles of Association as against third parties. This means, therefore, that the Company cannot release itself from a certain agreement or undertaking by stating that such obligation was entered into by a Manager who
was not authorised to act because he did not have the cooperation, as required in the Articles of Association, of another Manager, Supervisory Director and/or shareholder. 
 
At the time when the above-mentioned provision entered into force the supervisory directors of Océ N.V. deliberated on
the question of whether, on the grounds of the new regulation, they should propose an alteration of the Articles of Association to the effect that the signature of two Managers is always required. 
 
For practical reasons, however, it was decided not to implement this, but it
was also decided that in the Articles of Association of the Dutch Océ companies the provision would be maintained to the effect that in certain important cases the cooperation of a second Manager, Supervisory Director and/or shareholder is
required. 
 
This implies: 
 
that every Manager, acting alone, is lawfully able to bind his company
irrevocably as against third parties, but also that every Manager is in certain cases still obliged as 

 
against the Company to request
the cooperation of a fellow Manager, Supervisory Director and/or shareholder. 
 
If a Manager does not abide by the latter obligation, the Company will indeed be bound to its commitment as against the outside world, but at the same time the Company can make a claim against the relevant Manager personally –
i.e. against his private assets – on account of non-compliance with the Articles of Association. 
 
We feel it is appropriate to bring the foregoing to your attention because, in view of the Articles of Association, the law means that on the one hand the Company will be bound by you, even if you fail
to recognise the limitations imposed by the Articles of Association, and that on the other hand you will in such case be personally liable for the consequences of such an infringement of the Articles of Association. 
 
Would you please sign a copy of this memo (which we are sending to you in
duplicate) to signify your agreement and then return it to us. 
 

	 Océ-van der Grinten N.V. 
	 Seen and agreed 

 

	 /s/ H.B. van Liemt 
	 /s/ R.L van Iperen 

 

	 H.B. van Liemt 
	 R.L van Iperen 

Chairman, 
Board of Supervisory Directors 
 
Attachment III 
Remuneration and other conditions of employment – Executive Board Scheme C 
 
I Remuneration 
 

	(a)	 	Basic annual salary: 

Your basic annual salary comprises your statutory entitlements to holiday bonus and is paid out in monthly installments. 
 

	(b)	 	Variable pay / bonus 

Each year, for the first time in May 2001, you will receive a bonus in respect of the preceding financial year, calculated in accordance with the bonus percentage table (see attachment II B) that forms part of Executive Board Scheme
C. 
 
II Pension entitlements 
 
See pension letter, attachment II A. 

 
III Incapacity for work
insurance 
 
See attachment II A. 
 
Please note: 
 
With regard to points II and III we would
like to draw your attention to the fact that the insurer may make the insurance of higher-than-normal claims conditional on the results of a medical check-up. 
 
IV Other conditions of employment 
 

	(a)	 	Allowance for representation costs 

Each year you will receive an allowance towards the costs of representation. This amount is normally paid out in the month of February. In 2000 the gross allowance for representation costs for the members of the Board of
Executive Directors has been set at NLG 17,430 per annum, of which an amount of NLG 16,640 can be paid out net of tax. 
You receive this allowance subject to the condition that you do not claim representation costs as a deductible item on your income tax return. 
 

	(b)	 	Car costs allowance 

In attachment II C you will find the lease car scheme (category A) which is applicable to you as from the date of your appointment. Please note that the lease prices referred to in paragraph 2 are those that were determined for
members of the Board of Executive Directors in 2000. 
 

	(c)	 	Salary in the event of death 

In the event of death your widow or – in the event that she predeceases you – all those for whom you were the breadwinner, will receive from Employer your basic salary during the month in which death occurred and
also for the subsequent three months, as well as the bonus entitlement that has accrued up to the month in which death occurred. 
 

	(d)	 	Holiday entitlements 

Your holiday entitlement amounts to 30 working days per calendar year; no increase is applied on account of age or years of service. 
 

	(e)	 	Voluntary healthcare insurance 

For the duration of your service contract you and your family are participants in our collective healthcare insurance policy, whereby the contribution made by the Company amounts to 50% of your premium for a ‘class
2’ insurance. 
After your retirement you may also continue to participate in this collective healthcare
insurance scheme; in addition, after your death, your widow and 

 

	    	 	dependent children can continue to participate in the said insurance scheme; as regards the dependent children the rules are that, for such time as they are younger
than 27 years they must either be entitled to child allowance or make use of the study financing scheme; in such cases the full premium is deducted from the old-age pension or the widows and orphans pension. 

 

	(f)	 	Other emoluments 

	    	 	In respect of your activities in the Océ Group (including supervisory directorships with Océ subsidiaries) you will receive no emoluments other than
the emoluments mentioned in the present letter and in your letter of appointment dated July 3, 2000. 

 

	(g)	 	Outside posts 

	    	 	Without the consent of the Chairman of the Board of Supervisory Directors you are not allowed to accept other posts of any significant size alongside your present
post; such other posts relate in particular to the holding of supervisory directorships or consultancy posts with other companies. 

 

	(h)	 	Termination of employment 

	    	 	For the termination of the employment contract a period of notice of six months will apply to both parties. At the moment of termination of your employment every
post that you hold within the Océ Group at such time will terminate automatically, such to the extent that such posts have in that case not already been terminated for whatever reason. 

 

	(i)	 	Secrecy declaration and non-competition clause 

	    	 	The secrecy declaration and the non-competition clause are enclosed as attachments to this agreement and form an integral part hereof (see attachments II D and II
E). 

 
V. Final provision 

	    	 	The arrangements set out in the present letter may at all times be changed, whether for a single time or permanently, in those cases where the Board of Supervisory
Directors of Océ N.V. considers such to be necessary on the grounds of what it feels are clearly unreasonable or clearly unforeseen effects of the present arrangements. 

 
EXECUTIVE BOARD BONUS SCHEME 
Attachment IIIA forming part of the service contract of Mr van Iperen’s 
 
Employee is entitled to a bonus that is determined on the basis of the table below. The bonus is paid out in each case in the
month of May subsequent to the financial 

 
year in respect of which the
bonus is calculated. The salary used as a basis for calculating the bonus is equal to twelve times the employee’s monthly salary as is applicable on November 30 of the financial year in respect of which the bonus is being paid. 
 
If the employment contract has subsisted for only a part of the financial
year, the bonus for that financial year is determined on a pro rata basis. 
 
The right to bonus in the event of incapacity for work is governed by the ‘Incapacity for Work’ scheme, which forms part of this service contract. 
 
Bonus percentage 
 

	 A
	  	 Bonus percentage
	 	 A
	  	 Bonus percentage

	 > 6
 5.9
 5.8
 5.7
 5.6
 5.5
 5.4
 5.3
 5.2
 5.1
 5.0
 4.9
 4.8
 4.7
 4.6
 4.5
 4.4
 4.3
 4.2
 4.1
 4.0
 3.9
 3.8
 3.7
 3.6
 3.5
 3.4
 3.3
 3.2
 3.1
	  	 44.12
 43.38
 42.65
 41.91
 41.18
 40.44
 39.71
 38.97
 38.24
 37.50
 36.76
 36.03
 35.29
 34.56
 33.82
 33.09
 32.35
 31.62
 30.88
 30.15
 29.41
 28.68
 27.94
 27.21
 26.47
 25.74
 25.00
 24.26
 23.53
 22.79
	 	 3
 2.9
 2.8
 2.7
 2.6
 2.5
 2.4
 2.3
 2.2
 2.1
 2.0
 1.9
 1.8
 1.7
 1.6
 1.5
 1.4
 1.3
 1.2
 1.1
 1.0
 0.9
 0.8
 0.7
 0.6
 0.5
 0.4
 0.3
 0.2
 0.1
	  	 22.06
 21.32
 20.59
 19.85
 19.12
 18.38
 17.65
 16.91
 16.18
 15.44
 14.71
 13.97
 13.24
 12.50
 11.76
 11.03
 10.29
 9.56
 8.82
 8.09
 7.35
 6.62
 5.89
 5.15
 4.41
 3.68
 2.94
 2.21
 1.47
 0.74

 
A = Group income as
percentage of net Group revenues, as shown in the consolidated Statement of Operations. 

  Attachment III C to Service Contract between the Company and R.L. van Iperen Secrecy Obligation Océ-van der Grinten N.V.
 Secrecy obligation
 Whereas:
 The undersigned, R.L. van Iperen, is entering into or has
entered into a service contract with Océ-van der Grinten N.V., of Venlo, hereinafter referred to as the ‘employer’.
 Employer forms part of a group of companies,
hereinafter referred to as Océ companies or the Océ Group, which include Océ N.V., of Venlo, as well as all companies whose shares are held directly or indirectly by Océ N.V. A list of such companies is lodged each year at the
office of the Commercial Registry in Venlo.
 Océ companies seek to achieve their objectives via technological innovation activities, marketing techniques, etc.
 Within the framework of the aforesaid objectives the Océ Group has or will acquire major interests whose protection has to be safeguarded.
 The aforementioned protection of interests should be safeguarded, inter alia, by the secrecy obligation of the undersigned with regard to the various items of information which come or may come to his knowledge as part
of his activities for the Océ Group.
 I, the undersigned, therefore declare that, as part of my service contract, I have given the following undertakings:

Article 1. Secrecy
 1.1.     That both during the subsistence and after termination of my service contract with employer I will observe complete secrecy with regard to all matters relating to the
Océ companies and matters relating to third-party companies that are dealt with by or with the Océ companies that come to my knowledge by virtue of or in connection with my employment.
 1.2.     That I will observe this obligation of secrecy not only towards outside parties but also towards the
personnel of all Océ companies, such on the understanding that the secrecy obligation shall not apply to the making of announcements in respect of which it is absolutely clear that such form part of the proper fulfilment of my job; in cases of
doubt I shall always ask permission from the
 
 

  management of the relevant Océ company or companies.
 1.3.     That upon termination of my employment with employer I shall immediately cause to be returned to employer all documents,
drawings, formulas and/or other documentation and goods, together with all copies made thereof and notes made thereon.
 Article 2. Intellectual property
 2.1.     That, to the extent that the
rights to be mentioned below do not already accrue to employer by law by virtue of my service contract, I shall transfer to employer or to a third party to be designated by employer the ownership of – and hereby, as far as possible, already
transfer to employer the ownership of, which transfer is accepted by employer – all rights whatsoever to and resulting from intellectual property rights, such as rights to models, copyrights, patents, as well as those in respect of and
resulting from patentable or non-patentable inventions, relating directly or indirectly to any area in which the Océ companies operate or will operate during my employment, and furthermore all non-patentable administrative or business methods
and other similar rights relating to the operation of the Océ companies, such as have been or are to be acquired by me alone or in cooperation with others, both during the subsistence of my employment contract with employer and for a period of
one year after termination thereof, whereby these rights comprise, inter alia, the right to apply for patents in the name of employer or of a third party to be designated by employer.
 2.2.     That I cannot and will not demand any payment for or in connection with the transfer of the rights referred to under 2.1. in
the present article, since such payment is included in the income that I receive from employer.
 2.3.     That I shall immediately notify employer of the existence of any right as referred to under 2.1. in the present article and shall provide all cooperation that employer may reasonably require
from me for and in connection with the transfer of the relevant right, also with a view to the acquisition, possession and maintenance of such right.
 Article
3. Penalty clause
 That, if I contravene in full or in part any obligation resulting from my acceptance of the foregoing
declaration, I shall for each contravention forfeit to employer – without prior notice of default being required – an immediately payable penalty equivalent to twelve times the gross basic monthly salary most recently received by me
(excluding extraordinary circumstances allowance, emoluments, allowances and bonuses) – except where employer claims compensatory damages – and without prejudice to employer’s right to apply any legal remedy that is available to
employer.
 
 

    

	 Venlo, February 2, 1995
 	  
 	  
 	  
 
	 
 /s/ R.L. VAN IPEREN
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 R.L. van Iperen
 (name, signature)
 	  
 	  
 	  
 

  
 The above declaration has been accepted by employer.
   

	 Venlo,
 	  
 	  
 	  
 
	 
 /s/ J.V.H. PENNINGS
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 Océ N.V.
 J.V.H. Pennings
 (employer, name and function of
signatory)
 	  
 	  
 	  
 

 This declaration has been
drawn up and signed in duplicate and employee and employer each have a copy hereof.
 
 

  Attachment III D to Service Contract between the Company and R.L. van Iperen Secrecy Obligation Océ-Nederland B.V.
 Secrecy obligation
 Whereas:
 The undersigned, R.L.
van Iperen, is entering into or has entered into a service contract with Océ-Nederland B.V., of Venlo, hereinafter referred to as the ‘employer’.
 Employer forms
part of a group of companies, hereinafter referred to as Océ companies or the Océ Group, which include Océ N.V., of Venlo, as well as all companies whose shares are held directly or indirectly by Océ N.V. A list of such companies
is lodged each year at the office of the Commercial Registry in Venlo.
 Océ companies seek to achieve their objectives via technological innovation activities, marketing
techniques, etc.
 Within the framework of the aforesaid objectives the Océ Group has or will acquire major interests whose protection has to be safeguarded.
 The aforementioned protection of interests should be safeguarded, inter alia, by the secrecy obligation of the undersigned with regard to the various items of information which come or may
come to his knowledge as part of his activities for the Océ Group.
 I, the undersigned, therefore declare that, as part of my service contract, I have given the following
undertakings:
 Article 1. Secrecy
 1.4.     That both during the subsistence and after termination of my service contract with employer I will observe complete secrecy with regard to all
matters relating to the Océ companies and matters relating to third-party companies that are dealt with by or with the Océ companies that come to my knowledge by virtue of or in connection with my employment.
 1.5.     That I will observe this obligation of secrecy not only towards outside parties but
also towards the personnel of all Océ companies, such on the understanding that the secrecy obligation shall not apply to the making of announcements in respect of which it is absolutely clear that such form part of the proper fulfilment of my
job; in cases of doubt I shall always ask permission from the management of the relevant Océ company or companies.
 
 

  1.6.     That upon termination of my employment
with employer I shall immediately cause to be returned to employer all documents, drawings, formulas and/or other documentation and goods, together with all copies made thereof and notes made thereon.
 Article 2. Intellectual property
 2.4.     That, to the extent that the rights to be mentioned below do not already accrue to employer by law by virtue of my service contract, I shall transfer to employer or to
a third party to be designated by employer the ownership of – and hereby, as far as possible, already transfer to employer the ownership of, which transfer is accepted by employer – all rights whatsoever to and resulting from intellectual
property rights, such as rights to models, copyrights, patents, as well as those in respect of and resulting from patentable or non-patentable inventions, relating directly or indirectly to any area in which the Océ companies operate or will
operate during my employment, and furthermore all non-patentable administrative or business methods and other similar rights relating to the operation of the Océ companies, such as have been or are to be acquired by me alone or in cooperation
with others, both during the subsistence of my employment contract with employer and for a period of one year after termination thereof, whereby these rights comprise, inter alia, the right to apply for patents in the name of employer or of a third
party to be designated by employer.
 2.5.     That I cannot and will not
demand any payment for or in connection with the transfer of the rights referred to under 2.1. in the present article, since such payment is included in the income that I receive from employer.
 2.6.     That I shall immediately notify employer of the existence of any right as referred to under 2.1. in the
present article and shall provide all cooperation that employer may reasonably require from me for and in connection with the transfer of the relevant right, also with a view to the acquisition, possession and maintenance of such right.

Article 3. Penalty clause
 That, if I contravene in full or
in part any obligation resulting from my acceptance of the foregoing declaration, I shall for each contravention forfeit to employer – without prior notice of default being required – an immediately payable penalty equivalent to twelve
times the gross basic monthly salary most recently received by me (excluding extraordinary circumstances allowance, emoluments, allowances and bonuses) – except where employer claims compensatory damages – and without prejudice to
employer’s right to apply any legal remedy that is available to employer.
 
 

    

	 Venlo, February 2, 1995
 	  
 	  
 	  
 
	 
 /s/ R.L. VAN IPEREN
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 R.L. van Iperen
 (name, signature)
 	  
 	  
 	  
 

  
 The above declaration has been accepted by employer.
   

	 Venlo,
 	  
 	  
 	  
 
	 
 /s/ J.V.H. PENNINGS
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 Océ N.V.
 J.V.H. Pennings
 (employer, name and function of
signatory)
 	  
 	  
 	  
 

  
 This declaration has been drawn up and signed in duplicate and employee and employer each have a copy hereof.
 
 

  Attachment III E to Service Contract between the Company and R.L. van Iperen Non-competition clause Océ-van der Grinten N.V.
 NON-COMPETITION CLAUSE
 Whereas
 The undersigned R.L. van Iperen is entering or has entered into a contract of employment with Océ-van der Grinten N.V., of Venlo, hereinafter to be referred to as “Employer”.
 Employer forms part of a group of companies, hereinafter referred to as “Océ companies” or the “Océ Group”, which shall include Océ N.V., of Venlo, as well as all
companies whose shares are held directly or indirectly by Océ N.V.
 A list of these companies is deposited each year at the office of the Commercial Registry in
Venlo.
 Océ companies seek to achieve their objectives through technological innovative activities, marketing techniques, and so on.
 As part of the aforesaid objectives, major interests whose protection needs to be safeguarded have been or will be acquired by the Océ Group.
 The aforesaid safeguarding of interests is guaranteed, inter alia, by the non-competition obligation of the undersigned as set forth below.
 As part of my contract of
employment I, the undersigned, therefore give the following undertakings:
   

	 1.
 	 (a)
 	 For such time as I, the undersigned, work for Employer and/or for another company forming part of the Océ Group I shall
not, except with Employer’s express prior consent in writing, in any capacity or in any way whatsoever be directly or indirectly involved in any competing activity, whether or not within a corporate context.
 The foregoing shall also be applicable even where there is no question of a contract of employment or of any other contract to perform work or involving remuneration in whatever
form and to whomsoever paid. Acting as supervisory director of or as adviser to a competing company shall likewise require the aforementioned consent.
 
	  
 	 (b)
 	 Also after the termination of my contract of employment I shall, for a period of 2 (two) years as from such date, also be bound
to the obligation set forth under 1.(a), subject to dispensation as referred to under 4 below.
 
	 2.
 	 A competing activity shall be understood to mean any activity which during the period of 2 (two) years prior to the
termination of my work for Employer fell within the field:
 
	  
 	 (a)
 	 in which the Océ company (companies) for which I am or was working is/are or was/were involved, or
 

 
 

    

	  
 	 (b)
 	 in which I am or was involved in my work, whether or not on behalf of Employer himself or on behalf of any other Océ
company inside or outside the Netherlands.
 
	 3.
 	 Exempted from the obligation mentioned under 1 is the holding of a financial interest in a competing company whose
shares are quoted on the stock exchange, in so far as such holding amounts to less than 1⁄2 % (one half per cent) of the total issued share capital.
 The holding
of a financial interest of more than 1⁄2 % (one half per cent) as referred to above in the present article shall require Employer’s prior consent.
 
	 4.
 	 A request for dispensation from the obligations referred to under 1 should be submitted in writing to Director
Corporate Personnel & Organisation accompanied by a statement of the party whose service I wish to enter or for whom I intend to perform work and of the post and the work which I shall hold or fulfil there respectively or, as the case may be,
the work which I wish to perform on a free-lance basis.
 This request must in such case also be submitted within the period of 2 (two) years after termination of the
contract of employment with Employer, as referred to under 1.(b), even where a previous dispensation has already been granted by Employer in respect of another post or other work.
 I shall be released from the obligation referred to under 1 if Employer responds favourably to a request made by me for dispensation from such obligation or, alternatively, if
Employer does not respond within 30 (thirty) days after receipt of my written request.
 
	 5.
 	 If Employer refuses to grant the dispensation requested by me for all or part of the 2 (two) year period referred to
under 1, for reason other than the absence of the information set forth above, Employer shall pay to me an amount of compensation to be specified in more detail and covering at most the period during which dispensation was refused. Such period shall
commence immediately after the contract of employment has been lawfully terminated.
 The compensation shall be payable as from the date on which the dispensation was
refused.
 If the refusal has already been notified to me prior to the date of termination of the contract of employment, the compensation shall be payable as from
the date on which the contract of employment was lawfully terminated.
 The compensation referred to herein consists of a supplementary amount on top of the benefits
which I may claim pursuant to the social security legislation or similar regulations, on the understanding that the aggregate of such benefits plus the aforesaid supplementary amount -all to be calculated over a 1 (one) month period- shall be equal
to 80% (eighty per cent) of the gross monthly salary received by me from Employer at the date of termination of the contract of employment.
 Only in the event of
there being no entitlement whatsoever to benefits as referred to above will the compensation to be paid by Employer be equal to 80% (eighty per cent) of the above mentioned gross monthly salary, on the understanding that as soon as I am in receipt
of such benefits I shall notify Employer of such fact and such benefits shall then be deducted from the compensation to be paid by Employer in the manner as indicated above.
 
	 6.
 	 If, after my written notice of default, Employer fails within a period of 10 (ten) days to comply with his
obligations to pay the above mentioned compensation, my obligations arising from the present clause shall lapse.
 

 
 

    

	 7.
 	 If I am in receipt of the compensation referred to under article 5 and also receive income from work performed in whatever
capacity -whether it be on a free-lance basis, or as an employee, or on behalf of a third party or third parties- I shall provide Employer with a specification of such income, in which case Employer shall take action in accordance with the
provisions of article 5 relating to benefits pursuant to the social security legislation or similar regulations.
 
	 8.
 	 If I am in receipt of the said compensation and I perform activities in conflict with any obligation referred to in the present
clause, the above mentioned compensation shall no longer be payable and, where it has already been disbursed, must be repaid by me. If I lodge an appeal to the effect that the obligation has been fulfilled by me, I shall furnish Employer with the
relevant proof thereof. The present provisions are without prejudice to Employer’s other rights arising from the present declaration.
 
	 9.
 	 The compensation arrangement as referred to in article 5 of the present clause shall not be applicable if my contract of
employment or relationship with Employer is terminated on the grounds of a reason given by me to Employer and recognised as urgent within the meaning of the law.
 

 
   

	 Venlo, February 2, 1995
 Place, date
 	  
 	  
 	  
 
	 
 /s/ R.L. VAN IPEREN
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 Signature
 R.L. van Iperen
 	  
 	  
 	  
 

 The above declaration has been
accepted by Employer.
   

	 Venlo
 Place, date
 	  
 	  
 	  
 
	 
 /s/ J.V.H. PENNINGS
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 Océ-van der Grinten N.V.
 J.V.H. Pennings
 Employer, name
and post of signatory
 	  
 	  
 	  
 

 The present declaration has
been drawn up and signed in duplicate and employee and Employer each have a copy.
 
 

  Attachment III F to Service Contract between the Company and R.L. van Iperen Non-competition clause Océ-Nederland B.V.
 NON-COMPETITION CLAUSE
 Whereas
 The undersigned R.L. van Iperen is entering or has entered into a contract of employment with Océ-Nederland B.V., of Venlo, hereinafter to be referred to as “Employer”.
 Employer forms part of a group of companies, hereinafter referred to as “Océ companies” or the “Océ Group”, which shall include Océ N.V., of Venlo, as well as all
companies whose shares are held directly or indirectly by Océ N.V.
 A list of these companies is deposited each year at the office of the Commercial Registry in
Venlo.
 Océ companies seek to achieve their objectives through technological innovative activities, marketing techniques, and so on.
 As part of the aforesaid objectives, major interests whose protection needs to be safeguarded have been or will be acquired by the Océ Group.
 The aforesaid safeguarding of interests is guaranteed, inter alia, by the non-competition obligation of the undersigned as set forth below.
 As part of my contract of
employment I, the undersigned, therefore give the following undertakings:
   

	 1.
 	 (a)
 	 For such time as I, the undersigned, work for Employer and/or for another company forming part of the Océ Group I shall
not, except with Employer’s express prior consent in writing, in any capacity or in any way whatsoever be directly or indirectly involved in any competing activity, whether or not within a corporate context.
 The foregoing shall also be applicable even where there is no question of a contract of employment or of any other contract to perform work or involving remuneration in whatever
form and to whomsoever paid. Acting as supervisory director of or as adviser to a competing company shall likewise require the aforementioned consent.
 
	  
 	 (b)
 	 Also after the termination of my contract of employment I shall, for a period of 2 (two) years as from such date, also be bound
to the obligation set forth under 1.(a), subject to dispensation as referred to under 4 below.
 
	 2.
 	 A competing activity shall be understood to mean any activity which during the period of 2 (two) years prior to the
termination of my work for Employer fell within the field:
 
	  
 	 (a)
 	 in which the Océ company (companies) for which I am or was working is/are or was/were involved, or
 

  
 
 

    

	  
 	 (b)
 	 in which I am or was involved in my work, whether or not on behalf of Employer himself or on behalf of any other Océ
company inside or outside the Netherlands.
 
	 3.
 	 Exempted from the obligation mentioned under 1 is the holding of a financial interest in a competing company whose
shares are quoted on the stock exchange, in so far as such holding amounts to less than 1⁄2 % (one half per cent) of the total issued share capital.
 The holding
of a financial interest of more than 1⁄2 % (one half per cent) as referred to above in the present article shall require Employer’s prior consent.
 
	 4.
 	 A request for dispensation from the obligations referred to under 1 should be submitted in writing to Director
Corporate Personnel & Organisation accompanied by a statement of the party whose service I wish to enter or for whom I intend to perform work and of the post and the work which I shall hold or fulfil there respectively or, as the case may be,
the work which I wish to perform on a free-lance basis.
 This request must in such case also be submitted within the period of 2 (two) years after termination of the
contract of employment with Employer, as referred to under 1.(b), even where a previous dispensation has already been granted by Employer in respect of another post or other work.
 I shall be released from the obligation referred to under 1 if Employer responds favourably to a request made by me for dispensation from such obligation or, alternatively, if
Employer does not respond within 30 (thirty) days after receipt of my written request.
 
	 5.
 	 If Employer refuses to grant the dispensation requested by me for all or part of the 2 (two) year period referred to
under 1, for reason other than the absence of the information set forth above, Employer shall pay to me an amount of compensation to be specified in more detail and covering at most the period during which dispensation was refused. Such period shall
commence immediately after the contract of employment has been lawfully terminated.
 The compensation shall be payable as from the date on which the dispensation was
refused.
 If the refusal has already been notified to me prior to the date of termination of the contract of employment, the compensation shall be payable as from
the date on which the contract of employment was lawfully terminated.
 The compensation referred to herein consists of a supplementary amount on top of the benefits
which I may claim pursuant to the social security legislation or similar regulations, on the understanding that the aggregate of such benefits plus the aforesaid supplementary amount -all to be calculated over a 1 (one) month period- shall be equal
to 80% (eighty per cent) of the gross monthly salary received by me from Employer at the date of termination of the contract of employment.
 Only in the event of
there being no entitlement whatsoever to benefits as referred to above will the compensation to be paid by Employer be equal to 80% (eighty per cent) of the above mentioned gross monthly salary, on the understanding that as soon as I am in receipt
of such benefits I shall notify Employer of such fact and such benefits shall then be deducted from the compensation to be paid by Employer in the manner as indicated above.
 
	 6.
 	 If, after my written notice of default, Employer fails within a period of 10 (ten) days to comply with his
obligations to pay the above mentioned compensation, my obligations arising from the present clause shall lapse.
 

  
 
 

    

	 7.
 	 If I am in receipt of the compensation referred to under article 5 and also receive income from work performed in whatever
capacity -whether it be on a free-lance basis, or as an employee, or on behalf of a third party or third parties- I shall provide Employer with a specification of such income, in which case Employer shall take action in accordance with the
provisions of article 5 relating to benefits pursuant to the social security legislation or similar regulations.
 
	 8.
 	 If I am in receipt of the said compensation and I perform activities in conflict with any obligation referred to in the present
clause, the above mentioned compensation shall no longer be payable and, where it has already been disbursed, must be repaid by me. If I lodge an appeal to the effect that the obligation has been fulfilled by me, I shall furnish Employer with the
relevant proof thereof. The present provisions are without prejudice to Employer’s other rights arising from the present declaration.
 
	 9.
 	 The compensation arrangement as referred to in article 5 of the present clause shall not be applicable if my contract of
employment or relationship with Employer is terminated on the grounds of a reason given by me to Employer and recognised as urgent within the meaning of the law.
 

 
   

	 Venlo, February 2, 1995
 Place, date
 	  
 	  
 	  
 
	 
 /s/ R.L. VAN IPEREN
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 R.L. van Iperen
 	  
 	  
 	  
 

 The above declaration has been
accepted by Employer.
   

	 Venlo, February 2, 1995
 Place, date
 	  
 	  
 	  
 
	 
 /s/ J.V.H. PENNINGS
 	  
 	  
 	 
 
 
 
	 
 	  
 	  
 	  
 
	 
 Océ-Nederland B.V.
 J.V.H. Pennings
 Employer, name and post
of signatory
 	  
 	  
 	  
 

 The present declaration has been
drawn up and signed in duplicate and employee and Employer each have a copy.

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