Document:

EX-10.39

 

 

Exhibit 10.39

	 	 	 
	

	 	Lexmark Europe S.A.R.L.
	 

	 	Tour Europlaza
	 

	 	20, avenue André Prothin
	 

	 	92927 Paris La défense cedex
	 

	 	Tel: 33 (0) 1 58 13 61 00
	 

	 	Fax: 33 (0) 1 58 13 61 43

ENDORSEMENT TO THE EMPLOYMENT CONTRACT OF MR. NAJIB BAHOUS REGULATING HIS TRANSFERS TO COUNTRY

Between the company Lexmark Europe SARL based at Tour Europlaza, 20 Rue Ande Prothin, 92400
Courbevoie, represented by Eamon J. Ryan _acting in his capacity as Gérant, hereinafter LEXMARK
company;

On the one hand,

and

MR. NAJIB BAHOUS

11 bis Billa du Roule

92200 Neuilly sur Seine

France

On the other hand.

THE FOLLOWING IS AGREED:

ARTICLE 1: OBJECT OF THE PRESENT ENDORSEMENT OF THE EMPLOYMENT CONTRACT

Mr. Najib BAHOUS was hired by the way of a contract of employment signed on April 1, 1991 between
the parties.

The parties subsequently entered into an endorsement to the employment contract of Mr. Najib Bahous
signed on July 1, 2004 (hereinafter referred to as the “Prior Endorsement Agreement”) under which
he worked within Lexmark International, Inc.

Under the present endorsement contract, Najib BAHOUS will exercise the function of Vice President
and General Manager, Lexmark Europe, Middle East and Africa within Lexmark International Technology
S.A.,20, Rte de Pré-Bois, Case Postale 508, 1215 Genève 15, Switzerland (hereinafter “LITSA”).

The parties agree that the provisions of this present endorsement contract replace the terms and
conditions of the Prior Endorsement Agreement.

 

2

Mr. Najib BAHOUS expressly accepts the proposed temporary expatriation made to him to exercise the
functions of Vice President and General Manager Lexmark Europe, Middle East and Africa in
Switzerland.

The provisions of this present endorsement will be supplemented by an employment contract signed
with LITSA during his stay in Switzerland.

ARTICLE 2: EFFECTS OF THE ENDORSMENT

The provision of the initial employment contract dated March 26, 1991 and March 29, 1991 and signed
on April 1, 1991 with Lexmark company are suspended for the period of the expatriation in
Switzerland.

The seniority acquired during Mr. Najib Bahous’ expatriation will be cumulated with the seniority
he already acquired until the date of expatriation to Switzerland.

ARTICLE 3: COMPETENT JURISDICTION AND LAW APPLICABLE TO THE EMPLOYMENT CONTRACT

The provisions of this present contract are subject to French law, under reserve of the public
order provisions in force in Switzerland which will apply as priority, and this without it being
possible to benefit simultaneously from the advantage and guaranteed offered by the two
legislations.

Any dispute concerning the execution or cancellation of this present contract on the initative of
one or other party, will be subject to the competent French jurisdiction.

ARTICLE 4: DATE OF EFFECT

This endorsement will take effect on October 1st, 2007.

Mr. Najib BAHOUS has received all the amounts payable to him September 30, 2007, including, but
not limited to, the indemnity in lieu of the accrued but not taken paid vacations, accrued through
September 30, but not taken by date.

ARTICLE 5: PLACE OF WORK

The place of work of Mr. Najib BAHOUS in Switzerland shall be Geneva.

Mr. Najib BAHOUS could be posted to any other location in his country of expatriation for the needs
of the activities of the LEXMARK group.

ARTICLE 6: DURATION OF EXPATRIATION ABROAD

 

3

The expatriation of Mr. Najib BAHOUS to Switzerland is foreseen for as long as the Chief Executive
Officer (CEO) to the LEXMARK group requires the activities related to this mission to be carried
out.

During the expatriation, the LEXMARK company reserves the right, upon the request of, and with the
agreement of LITSA , to proceed to interrupt the mission of Mr. Najib BAHOUS in Switzerland at any
time, and for whatever reason at all, under reserve of respecting a minimum notice period of three
months.

In the case of Mr. Najib BAHOUS wishing to terminate his mission in Switzerland before an agreed
time period, he must, except in a case of “force majeur” (absolute necessity) resign simultaneous
in writing from LITSA, and the LEXMARK company. Is regarded notably as a case of “force majeur” the
serious illness of the salaried employee or a member of his family, In a case of resignation during
his mission in Switzerland, Mr. Najib BAHOUS will respect the conditions as laid out in his
employment contract with LITSA.

ARTICLE 7: FUNCTIONS AND QUALIFICATIONS

Mr. Najib BAHOUS will exercise during his mission in Switzerland the functions of “Vice
President and General Manager, Lexmark Europe, Middle East and Africa” .

In such post, he will account for the success of his mission to the President of the Printing
Solutions & Services Division and Vice President of Lexmark International, Inc., his successor, or
to any person whom the CEO of Lexmark International, Inc. might nominate.

ARTICLE 8: REMUNERATION AND OTHER ADVANTAGES

The remuneration and other advantages which Mr. Najib BAHOUS will enjoy during his expatriation in
Switzerland are detailed in his employment contract and agreed with LITSA.

ARTICLE 9: SOCIAL SECURITY CONTRIBUTIONS

Mr. Najib BAHOUS will be liable for social security contributions as defined in his employment
contract with LITSA.

ARTICLE 10: END OF MISSION AND REINTEGRATION INTO FRANCE

At the end of his mission in Switzerland, except in the case of a resignation by Mr. Najib BAHOUS,
Mr. BAHOUS will be reintegrated into the LEXMARK company in France, or wherever the company is
established at that time, in a post corresponding to his qualifications, and at a total gross
compensation (including gross salary and bonus) corresponding to his total gross annual
compensation calculated on the 12 months preceding his initial assignment in the United States in
2001, 259,000 Euros.

 

4

If no employment corresponding to the skills and professional qualifications of Mr. Najib BAHOUS is
available within the LEXMARK company, he will be reinstated into some other company of the group in
France or abroad.

It is expressly agreed between the parties that at the end of the mission, the employment contract
agreed with LITSA will be terminated by mutual agreement.

The initial employment contract with the LEXMARK company will return into force in full right, with
the return to France of Mr. Najib BAHOUS, with a total gross compensation as per the first
paragraph of this Article 10.

Drawn up in Paris, France

In two original copies, as of September 25, 2007

Each text is equally authentic.

	 	 	 	 	 	 	 
	/s/ Najib Bahous
 

Najib Bahous

	 	 	 	/s/ Eamon J. Ryan
 

Lexmark Europe SARL
	 	 
	 

	 	 	 	Eamon J. Ryan	 	 
	 

	 	 	 	GérantEX-10.40

 

Exhibit 10.40

	 	 	 
	

	 	Lexmark International Technology SA
	 

	 	ICC-Bloc A
	 

	 	20, route de Pré-Bois
	 

	 	Case Postale 508
	 

	 	CH – 1215 GENÈVE 15

Employment Agreement

between

Lexmark International Technology, S.A.

ICC Bloc A

20, route de Pré-Bois

Case Postale 508

CH – 1215 Genève 15

- herein after called “The Company” –

and

Mr. Najib Bahous

	1.	 	Position/Activities
	 
	 	 	The Company will employ Mr. Najib Bahous as “Vice President and General Manager -EMEA”.
	 
	2.	 	Compensation
	 
	2.1	 	For his services Mr. Najib Bahous will receive an annual base salary of CHF 580’000.- payable
in 13 (thirteen) monthly instalments at the end of each calendar month. In addition, Mr. Najib
Bahous will be entitled to a bonus scheme which will be 30%/60%/95% of his annual base salary,
earned during the relevant period and subject to achieving his minimum, target or maximum
objectives. The bonus, as earned, will be paid to him by the end of March of the following
year in accordance with his objectives as communicated to Mr. Najib Bahous from time to time.
	 
	2.2	 	The compensation paid in accordance with Section 2.1 also covers any claims for payment of
a Christmas bonus, vacation pay and any other additional compensation.
	 
	2.3.	 	The compensation paid in accordance with Section 2.1 is subject to social security deductions
according to the pension scheme and accident insurance mentioned in Section 4 hereunder as
well as to taxes deductions.
	 
	2.4.	 	Medical insurance contributions are the responsibility of Mr. Najib Bahous.

1/3

 

	 	 	 
	

	 	Lexmark International Technology SA
	 

	 	ICC-Bloc A
	 

	 	20, route de Pré-Bois
	 

	 	Case Postale 508
	 

	 	CH — 1215 GENÈVE 15

	3.	 	Expenses
	 
	 	 	Mr. Najib Bahous shall, against the submission of the appropriate vouchers, be reimbursed for
all reasonable expenses incurred in the interest of the Company.
	 
	4.	 	Pension Scheme and Accident Insurance
	 
	 	 	The Company shall insure Mr. Najib Bahous under, and pay the employer’s premiums for, old age
pension scheme, and accident insurance to the extent required by the mandatory provisions of
Swiss law. In addition, Mr. Najib Bahous will benefit from Lexmark pension plan.
	 
	5.	 	Vacation
	 
	 	 	Mr. Najib Bahous will be in line with the “Employee Handbook”. (File attached)
	 
	6.	 	Secrecy
	 
	6.1.	 	Mr. Najib Bahous will keep strictly secret all business matters and acts which by their
nature are not intended for third parities, in particular business and trade secrets of the
Company and its associated companies.
	 
	6.2.	 	Mr. Najib Bahous will also not disclose the compensation paid to him.
	 
	6.3.	 	The obligation to secrecy under Sections 6.1 and 6.2 above continues unchanged for the time
after termination of this Employment Agreement.
	 
	7.	 	Term of Agreement
	 
	7.1	 	This Employment Agreement will start on 1 October 2007 and last for an unlimited time period,
although it may be terminated by each party as per the “Employee Handbook.” The notice has to
be given by registered mail or by handing over a written notice.
	 
	7.2	 	During the notice period the Company shall at any time be entitled to release Mr. Najib
Bahous from his working duties.
	 
	8.	 	Obligation to Surrender Documents
	 
	8.1.	 	When leaving the service of the Company, Mr. Najib Bahous will completely surrender to the
Company all printed matters, deeds, memoranda, notes, drafts, etc., which refer to matters of
the Company or its associated companies and which are still in his possession. This
obligation extends also to duplicates and photocopies and to documents which have been
addressed to him personally, but in his capacity as an employee of the Company, and to copies
of papers which he has personally, but in such capacity, sent to third persons.
	 
	8.2.	 	No right of retention exists vis-a-vis the obligation to surrender under Section 8.1.

2/3

 

	 	 	 
	

	 	Lexmark International Technology SA
	 

	 	ICC-Bloc A
	 

	 	20, route de Pré-Bois
	 

	 	Case Postale 508
	 

	 	CH — 1215 GENÈVE 15

	9.	 	Changes to be in Writing
	 
	 	 	Changes and amendments of this Employment Agreement must be done in writing.
	 
	10.	 	Applicable Law
	 
	 	 	This employment Agreement is governed by the laws of Switzerland.
	 
	12.	 	Acceptance of this agreement implies the acceptance of the “Employee Handbook” content which
is attached to that mail

Geneva, 26 September 2007                                                            

	 	 	 
	LEXMARK INTERNATIONAL TECHNOLOGY, S.A.
	 	 
	 
	 	 
	/s/ Laurent Giannichi
 

Laurent Giannichi

	 	 
	LITSA Managing Director
	 	 
	 
	 	 
	/s/ Najib Bahous
 

Mr. Najib Bahous

	 	 

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