Document:

exv10w52

 

Exhibit 10.52

AMENDMENT TO MEMORANDUM EMPLOYMENT AGREEMENT

     THIS AMENDMENT TO MEMORANDUM EMPLOYMENT AGREEMENT (the “Amendment”), made as of this
8th day of July, 2005, by and between Cronos Containers S.r.L., an Italian corporation (the
“Employer”), and Nico Sciacovelli (the “Employee”),

W I T N E S S E T H:

     WHEREAS, Employer and Employee entered into a Memorandum Employment Agreement, dated as of
December 1, 1999, as amended on December 1, 2000, December 18, 2001, November 5, 2002, and November
4, 2003 (hereinafter, the “Employment Agreement”); and

     WHEREAS, pursuant to clauses 1.1 and 12.1 of the Employment Agreement, Employer agreed to
employ Employee, and Employee agreed to serve in the employ of the Employer, on an exclusive and
full-time basis, as the Senior Vice President of Europe of Employer, through November 30, 2005,
subject to earlier termination pursuant to the provisions of the Employment Agreement; and

     WHEREAS, Employer and Employee desire to extend the term of the Employment Agreement; and

     WHEREAS, Employer and Employee desire to clarify the severance payable to Employee in the
event of his termination of employment without cause;

     NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and
valuable consideration, the parties hereto agree as follows:

     1. Extension of Term of Employment Agreement. Employer agrees to employ the Employee,
and the Employee agrees to serve in the employ of the Employer, on an exclusive and full-time
basis, in the position identified for Employee in the Employment Agreement, subject to the
supervision and direction of that person or persons set forth in the Employment Agreement, through
November 30, 2006, unless such period is sooner terminated by either party giving the other not
less than three (3) months written notice and pursuant to the provisions of the Employment
Agreement.

     2. Payment of Severance.

          (a) In the event of the termination of Employee under the Employment Agreement without cause,
or the failure by Employer without cause to extend the term of the Employment Agreement on or prior
to the expiration of the term of the Employment Agreement, then and in such event Employee shall be
paid an amount equal to the greater of (i) Employee’s salary under the Employment Agreement for
the
balance of the term of the Employment Agreement, or (ii) an amount equal to the product
obtained by multiplying Employee’s monthly salary at the time of termination by the

 

 

number of
years, not to exceed twenty-four (24), that Employee has worked for Employer (and any affiliate of
Employer).

          (b) For purposes of this Section 2, a termination for “cause” refers to a termination based
upon the non-performance of, or willful misconduct in the performance of, Employee’s duties to
Employer, or to willful misconduct of Employee amounting to moral turpitude, so as to affect his
ability to adequately perform services on behalf of Employer.

          (c) No severance shall be payable by Employer to Employee if Employee voluntarily resigns his
employment with Employer.

          (d) Any severance payable under this Section 2 shall be paid to Employee in one lump sum,
within thirty (30) days of his termination of employment.

          (e) The severance payable to Employee under this Section 2 is in lieu of any severance
payable to Employee under any severance policy of Employer, and no severance shall be payable to
Employee separate and apart from the severance payable to Employee under this Section 2.

     3. Payment of Severance Benefits Conditional Upon Release. Employer’s obligation to
provide the severance benefits to Employee under the provisions of Sections 2 of this Amendment
shall be conditioned on Employee’s execution and continued compliance in all material respects with
the restrictive covenants set forth in the Release of Claims attached hereto as Appendix A.

     4. Continuance in Force of Employment Agreement. Other than as specifically amended
hereby, the terms and provisions of the Employment Agreement shall remain in full force and effect.

     IN WITNESS WHEREOF, the Employer and the Employee have signed this Amendment, effective as of
the day and year first above written.

	 	 	 	 	 	 	 
	 

	 	“EMPLOYER”	 	 
	 
	 	 	 	 	 	 
	 	 	CRONOS CONTAINERS S.R.L.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Peter J. Younger	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its
	 	Director	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	“EMPLOYEE”	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Nico Sciacovelli	 	 
	 	 	 	 	 
	 	 	NICO SCIACOVELLI	 	 

2

 

Appendix A

Form of Release of Claims

3

 

RELEASE OF CLAIMS

     1. Release of Claims (“Release”). In consideration of the payments and benefits to be
made by                     , a                      corporation (“Employer”) to
                     (“Employee”) under that certain Memorandum Employment Agreement,
dated as of                     , as amended                      (hereinafter, “Employment Agreement”),
and with the intention of binding Employee and Employee’s heirs, executors, administrators and
assigns, Employee does hereby release, remise, acquit and forever discharge Employer and each of
its subsidiaries and affiliates (the “Employer Affiliated Group”), their present and former
officers, directors, executives, agents, attorneys, employees and employee benefits plans (and the
fiduciaries thereof), and the successors, predecessors and assigns of each of the foregoing
(collectively, the “Employer Released Parties”), of and from any and all claims, actions,
causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts,
financial obligations, suits, expenses, attorneys’ fees and liabilities of whatever kind or nature
in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and
whether now known or unknown, suspected or unsuspected which Employee, individually or as a member
of a class, now has, owns or holds, or has at any time heretofore had, owned or held, against any
Employer Released Party in any capacity, including, without limitation, any and all claims (i)
arising out of or in any way connected with Employee’s service to any member of the Employer
Affiliated Group (or the predecessors thereof) in any capacity, or the termination of such service
in any such capacity, (ii) for severance or vacation benefits, unpaid wages, salary or incentive
payments, (iii) for breach of contract, wrongful discharge, impairment of economic opportunity,
defamation, intentional infliction of emotional harm or other tort, and (iv) for any violation of
applicable labor and employment laws (including, without limitation, all laws concerning unlawful
and unfair labor and employment practices), any and all claims arising under civil rights laws, and
any and all claims under any whistleblower laws or whistleblower provisions of other laws,
excepting only:

          (a) rights of Employee under this Release and the Employment Agreement;

          (b) rights of Employee relating to equity awards held by Employee as of his or her termination
date;

          (c) rights to indemnification Employee may have (i) under applicable corporate law, (ii) under
the bylaws or articles of incorporation of any Employer Released Party, or (iii) as an insured
under any director’s and officer’s liability insurance policy now or previously in force;

          (d) claims (i) for benefits under any health, disability, retirement, deferred compensation,
life insurance or other similar employee benefit plan or arrangement of the Employer Affiliated
Group, and (ii) for earned but unused vacation pay through the termination date in accordance with
applicable Employer policy; and

A-1

 

          (e) claims for the reimbursement of unreimbursed business expenses incurred prior the date
(“Termination Date”) of Employee’s termination of employment by Employer.

     2. Waiver of Unknown Claims. In connection with this Release, and subject to
exceptions (a)-(e) of Section 1 of this Release, Employee acknowledges that he or she is aware that
he or she may later discover facts in addition to or different from those which he or she currently
knows or believes to be true with respect to the subject matters of this Release, but that it is
Employee’s intention hereby fully, finally, and forever, to settle and release all of these matters
which now exist, may exist, or previously existed between Employee and the Employer Released
Parties, whether known or unknown, suspected or unsuspected. In furtherance of such intent, the
releases given herein shall be and shall remain in effect as full and complete releases,
notwithstanding the discovery or existence of such additional or different facts.

     3. No Admissions. Employee acknowledges and agrees that this Release is not to be
construed in any way as an admission of any liability whatsoever by any Employer Released Party,
any such liability being expressly denied.

     4. Application to all Forms of Relief. This Release applies to any relief no matter
how called, including, without limitation, wages, back pay, front pay, compensatory damages,
liquidated damages, punitive damages for pain or suffering, costs and attorney’s fees and expenses.

     5. Specific Waiver. Employee specifically acknowledges that his or her acceptance of
the terms of this Release is, among other things, a specific waiver of his or her rights, claims
and causes of action under any applicable law or regulation in respect of discrimination of any
kind; provided, however, that nothing herein shall be deemed, nor does anything herein purport, to
be a waiver of any right or claim or cause of action which by law Employee is not permitted to
waive.

     6. No Complaints or Other Claims. Employee acknowledges and agrees that he or she has
not, with respect to any transaction or state of facts existing prior to the date hereof, filed any
complaints, charges or lawsuits against any Employer Released Party with any governmental agency,
court or tribunal.

     7. Conditions of Release.

          (a) Terms and Conditions. From and after the Termination Date, Employee shall abide
by all the terms and conditions of this Release and the terms and conditions set forth in the
Employment Agreement, which is incorporated herein by reference.

          (b) Confidentiality. Employee shall not, without the prior written consent of
Employer or as may otherwise be required by law or any legal process, or as is necessary in
connection with any adversarial proceeding against any member of the Employer Affiliated Group (in
which case Employee shall cooperate with Employer in obtaining a protective order at Employer’s
expense against disclosure by a court of

A-2

 

competent jurisdiction), communicate, to anyone other than Employer and those designated by
Employer or on behalf of Employer in the furtherance of its business, any trade secrets,
confidential information, knowledge or data relating to any member of the Employer Affiliated
Group, obtained by Employee during Employee’s employment by Employer that is not generally
available public knowledge (other than by acts by Employee in violation of this Release).

          (c) Return of Employer Material. Employee represents that he or she has returned to
Employer all Employer Material (as defined below). For purposes of this Section 7(c),
“Employer Material” means any documents, files and other property and information of any
kind belonging or relating to (i) any member of the Employer Affiliated Group, (ii) the current and
former suppliers, creditors, directors, officers, employees, agents and customers of any of them,
or (iii) the businesses, products, services and operations (including, without limitation,
business, financial and accounting practices) of any of them, in each case whether tangible or
intangible (including, without limitation, credit cards, building and office access cards, keys,
computer equipment, cellular telephones, pagers, electronic devices, hardware, manuals, files,
documents, records, software, customer data, research, financial data and information, memoranda,
surveys, correspondence, statistics and payroll and other employee data, and any copies,
compilations, extracts, excerpts, summaries and other notes thereof or relating thereto), excluding
only information (x) that is generally available public knowledge or (y) that relates to Employee’s
compensation or employee benefits.

          (d) Cooperation. Following the Termination Date, Employee shall reasonably cooperate
with Employer upon the reasonable request of Employer and be reasonably available to Employer with
respect to matters arising out of Employee’s services to the Employer Affiliated Group.

          (e) Nondisparagement. Employee agrees not to communicate negatively about or
otherwise disparage any Employer Released Party or the products or businesses of any of them in any
way whatsoever.

          (f) Nonsolicitation. Employee agrees that for the period of time beginning on the
date hereof and ending on the second anniversary hereof, Employee shall not, either directly or
indirectly, solicit, entice, persuade, induce or otherwise attempt to influence any person who is
employed by any member of the Employer Affiliated Group to terminate such person’s employment by
such member of the Employer Affiliated Group. Employee also agrees that for the same period of
time he or she shall not assist any person or entity in the recruitment of any person who is
employed by any member of the Employer Affiliated Group. The Employee’s provision of a reference
to or in respect of any individual shall not be a violation this Section 7(f).

          (g) No Representation. The Employee acknowledges that, other than as set forth in the
Employment Agreement, (i) no promises have been made to him or her, and (ii) in signing this
Release Employee is not relying upon any statement or representation made by or on behalf of any
Employer Released Party and each or any of them concerning the merits of any claims or the nature,
amount, extent or duration of any

A-3

 

damages relating to any claims or the amount of any money, benefits, or compensation due
Employee or claimed by Employee, or concerning the Release or concerning any other thing or matter.

          (h) Injunctive Relief. In the event of a breach or threatened breach by Employee of
this Section 7, Employee agrees that Employer shall be entitled to injunctive relief in a court of
appropriate jurisdiction to remedy any such breach or threatened breach, Employee acknowledging
that damages would be inadequate or insufficient.

     8. Voluntariness. Employee agrees that he or she is relying solely upon his or her
own judgment; that Employee is over eighteen years of age and is legally competent to sign this
Release; that Employee is signing this Release of his or her own free will; that Employee has read
and understood the Release before signing it; and that Employee is signing this Release in exchange
for consideration that he or she believes is satisfactory and adequate.

     9. Legal Counsel. Employee acknowledges that he or she has been informed of the right
to consult with legal counsel and has been encouraged to do so.

     10. Complete Agreement/Severability. This Release constitutes the complete and final
agreement between the parties and supersedes and replaces all prior or contemporaneous agreements,
negotiations, or discussions relating to the subject matter of this Release. All provisions and
portions of this Release are severable. If any provision or portion of this Release or the
application of any provision or portion of the Release shall be determined to be invalid or
unenforceable to any extent or for any reason, all other provisions and portions of this Release
shall remain in full force and shall continue to be enforceable to the fullest and greatest extent
permitted by law.

     11. Acceptance. Employee acknowledges that he or she has been given a period of
twenty-one (21) days within which to consider this Release, unless applicable law requires a longer
period, in which case Employee shall be advised of such longer period and such longer period shall
apply. Employee may accept this Release at any time within this period of time by signing the
Release and returning it to Employer.

     12. Revocability. This Release shall not become effective or enforceable until seven
(7) calendar days after Employee signs it. Employee may revoke his or her acceptance of this
Release at any time within that seven (7) calendar day period by sending written notice to
Employer. Such notice must be received by Employer within the seven (7) calendar day period in
order to be effective and, if so received, would void this Release for all purposes.

     13. Governing Law. Except for issues or matters as to which federal law is
applicable, this Release shall be governed by and construed and enforced in accordance with the
laws of Italy without giving effect to the conflicts of law principles thereof.

A-4

 

     Please indicate your acceptance of this Release by signing and dating this page and returning
it to Employer. A duplicate of this Release should be maintained for your records.

	 	 	 	 	 	 	 
	 

	 	“EMPLOYER”
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 	 	 
	ACCEPTED AND AGREED:	 	 
	 
	 	 	 	 
	“EMPLOYEE”
	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 	 	 

A-5exv10w53

 

Exhibit 10.53

AMENDMENT TO SERVICE AGREEMENT

     THIS AMENDMENT TO SERVICE AGREEMENT (the “Amendment”), made as of this 8th day of
July, 2005, by and between Cronos Containers Limited, a company incorporated in England and whose
registered office is at the Ice House, Dean Street, Marlow, Buckinghamshire SL7 3AB, England
(“Employer”), and John C. Kirby of Buckinghamshire, England (“Employee”),

W I T N E S S E T H:

     WHEREAS, Employer and Employee entered into a Service Agreement, dated as of February 29,
2000, as amended December 17, 2001, November 5, 2002, November 4, 2003, and May 28, 2004
(hereinafter, the “Service Agreement”); and

     WHEREAS, pursuant to clauses 2.1 and 2.2 of the Service Agreement, Employer agreed to employ
Employee, and Employee agreed to serve in the employ of the Employer, on an exclusive and full-time
basis, as the Senior Vice President – Operations of Employer, until November 30, 2005, subject to
earlier termination pursuant to the provisions of the Service Agreement; and

     WHEREAS, Employer and Employee desire to extend the term of the Service Agreement; and

     WHEREAS, Employer and Employee desire to clarify the severance payable to Employee in the
event of his termination of employment without cause;

     NOW, THEREFORE, in consideration of the mutual covenants herein contained Employer and
Employee hereto agree as follows:

     1. Extension of Term of Service Agreement. Employer agrees to employ the Employee,
and the Employee agrees to serve in the employ of the Employer, on an exclusive and full-time
basis, in the position identified for Employee in the Service Agreement, subject to the supervision
and direction of that person or persons set forth in the Service Agreement, until November 30,
2006, unless such period is sooner terminated by either party giving the other not less than three
(3) months written notice subject to the provisions of clauses 13.1 or 13.3 of the Service
Agreement.

     2. Severance Payment.

          (a) In the event of the termination of Employee under the Service Agreement without cause, or
the failure by Employer without cause to extend the term of the Service Agreement on or prior to
the expiration of the term of the Service Agreement, then, conditional upon the Employee entering
into a Compromise Agreement in the form attached as Appendix A, the Employee shall be paid an
amount equal to the
greater of (i) Employee’s salary under the Service Agreement for the balance of the term of
the Service Agreement, or (ii) an amount equal to the product obtained by multiplying

1

 

Exhibit 10.53

the
Employee’s monthly salary at the time of termination by the number of years, not to exceed
twenty-four (24) (the “Multiplier”), that the Employee has worked for Employer (and any
affiliate of Employer).

          (b) For purposes of this Section 2, a termination for “cause” refers to a termination based
upon the non-performance of, or willful misconduct in the performance of, Employee’s duties to
Employer, or to willful misconduct of Employee amounting to moral turpitude, so as to affect his
ability to adequately perform services on behalf of Employer and/or in any circumstances in which
the Company could dismiss the Employee without notice pursuant to clause 13.3 of the Service
Agreement.

          (c) No severance shall be payable by Employer to Employee if Employee resigns his employment
with Employer.

          (d) Any severance payable hereunder shall be paid to Employee within thirty (30) days of his
termination of employment.

          (e) The severance payable to Employee under this Section 2 is in substitution of any
severance payable to Employee under any severance policy of Employer, and no severance shall be
payable to Employee separate and apart from the severance payable to Employee under this Section 2
and Section 3 hereof.

     3. Severance Benefit – Medical.

          (a) In the event that Employee’s employment with Employer terminates under circumstances that
would entitle him to the payment of severance under Section 2 of this Amendment (including but
without limitation the condition to enter into a legally binding compromise in the terms of the
draft at Appendix A), and, at the time of termination, Employer is providing Employee with the
benefit of private medical insurance, then and in such event Employer shall continue to pay the
insurance premium on behalf of Employee in respect of the private medical insurance scheme
(“Scheme”) for that number of months equal to the Multiplier for as long as such benefits
are able to be made on behalf of the Employee under the scheme. In the event that Employer
terminates its participation in the Scheme or any benefit thereof (e.g., dental or vision) that was
available to and in which Employee was participating at the time that Employee’s employment with
Employer was terminated, then and in such event Employer shall pay to Employee within thirty (30)
days of termination of such coverage, an amount equal to the premium paid by Employer in respect of
the Employee for such cover for the month prior to his termination, multiplied by the number of
remaining months Employer would have reimbursed Employee under this Section 3(a) had Employer not
terminated its participation in the Scheme (or any benefit thereof).

          (b) If, after termination of employment by Employer, Employee is receiving private medical
insurance cover under the Scheme, and private medical insurance cover is available to Employee
from another company or entity, then
and in such event (i) Employee shall notify Employer that such private medical insurance cover
is available to Employee from another company or entity, and (ii) Employer’s

2

 

Exhibit 10.53

obligation to provide
further premiums to Employee will terminate with effect from the date that Employee is entitled to
receive such cover.

          (c) Nothing in this Section 3 or in this Amendment shall require Employer to continue to
provide private medical insurance cover for its employees generally, including Employee, or to
continue to maintain the current level and amount of coverage.

     4. Payment of Severance Benefits Conditional Upon Release. For the avoidance of
doubt, neither the payments nor benefits described in Sections 2 and 3 above will become due or
payable unless and until the Employer receives a validly executed Compromise Agreement in the terms
set out in the draft at Appendix A and a duly signed Legal Adviser’s Certificate.

     5. Continuance in Force of Service Agreement. Other than as specifically amended
hereby, the terms and provisions of the Service Agreement shall remain in full force and effect.

     IN WITNESS WHEREOF, the Employer and the Employee have signed this Amendment, effective
as of the day and year first above written.

	 	 	 	 	 	 	 
	 

	 	“EMPLOYER”	 	 
	 
	 	 	 	 	 	 
	 	 	CRONOS CONTAINERS LIMITED	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 /s/ Frank P. Vaughan	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its
	 	 Director	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	“EMPLOYEE”	 	 
	 
	 	 	 	 	 	 
	 	 	 /s/ John C. Kirby	 	 
	 	 	 	 	 
	 	 	JOHN C. KIRBY	 	 

3

 

APPENDIX A

Form of Compromise Agreement

 

 

Without Prejudice and Subject to Contract

COMPROMISE AGREEMENT

This Agreement is made the          day of                    200_

B E T W E E N:

	1.	 	Cronos Containers Limited (registration number 1543912) whose registered office is at Cronos
Containers Limited, the Ice House, Dean Street, Marlow, Buckinghamshire SL7 3AB (“the

Company”) and
	 
	2.	 	John Kirby of Buckinghamshire, England (“the Employee”)

BACKGROUND:

	A	 	The Employee is employed by the Company under the terms of a
written service agreement dated 29 February 2000 (“the Service
Agreement”);
	 
	B	 	The Service Agreement has been amended from time to time, most
recently on                      (the “Amendment Agreement”) pursuant
to which Employee’s period of employment has been extended to
                     (the “Expiration Date”), subject to a
three-month notice clause.

IT IS AGREED AS FOLLOWS:-

	1.	 	TERMINATION

	 	1.1	 	A termination of the Service Agreement prior to the Expiration Date without
cause (“the Termination Date”).

	2.	 	SALARY AND BENEFITS

	 	2.1	 	The Company will pay the Employee his salary and benefits due to him under
the Service Agreement up to and including the Termination Date subject to the
deduction of tax and National Insurance Contributions and the Employee acknowledges
that no further sums are or will be due to him.

	3.	 	COMPENSATION FOR EARLY TERMINATION

	 	3.1	 	In the event that the Company terminates the Service Agreement without cause
then the Company will pay to the Employee an amount equal to the greater of (i)
Employee’s normal basic monthly salary exclusive of commission, benefits, overtime and
bonus payments (“Employee’s Monthly Salary”) from the Termination Date to the
Expiration Date, or (ii) an amount equal to the product obtained by multiplying
Employee’s Monthly Salary by the number of years, to a maximum of 24, that the
Employee has been employed by the

1

 

	 	 	 	Company (“the Multiplier”). The amount payable to Employee under this Section 3.1
is referred to hereinafter as “the Sum.”
	 
	 	3.2	 	“Cause” means the non-performance or misconduct of the Employee in performing
his duties under the Service Agreement and any circumstance in which the Company would
dismiss the Employee without notice pursuant to clause 13.3 of the Service Agreement
and/or as defined in Section 2(b) of the Amendment Agreement.
	 
	 	3.3	 	The Sum shall be paid subject to deductions for tax and National Insurance
contributions.

	4.	 	PRIVATE MEDICAL INSURANCE

	 	4.1	 	In the event that that the Company terminates the Service Agreement or gives
notice to terminate the Service Agreement to expire before the Expiration Date without
Cause the Company will:

	 	4.1.1	 	continue to provide the Employee with private medical
expense insurance of which he is in receipt of pursuant to the Service
Agreement for that number of months equal to the Multiplier; or
	 
	 	4.1.2	 	if the Company terminates private medical expenses
insurance for its employees, pay to the Employee an amount equal to the
monthly premium paid by the Company on behalf of the Employee to provide such
private medical expense insurance multiplied by the number of remaining
months Employer would have reimbursed Employee under Section 4.1.1 had
Employer not terminated its private medical expense insurance.
	 
	 	4.1.3	 	The provision of this benefit or payment shall cease in
any event upon the Employee obtaining alternative employment where private
medical insurance cover is provided by his new employer. The Employee
undertakes to inform the Company of such event.

	5.	 	TAX

	 	5.1	 	The Employee agrees to be responsible for the payment of any tax or National
Insurance Contributions (referred to in this clause as “Excess Tax”) in respect of the
Sum and benefits provided pursuant to this Agreement and the Employee agrees to
indemnify the Company and keep the Company indemnified on a continuing basis against
any demand which is made against the Company in respect of any liability of the
Company in respect of Excess Tax, including, but without prejudice to the generality
of the foregoing, any demand made in respect of United Kingdom Income Tax or National
Insurance Contributions, costs, interest or penalties provided that no payment of
Excess Tax will be made without the Employee being given the opportunity at his own
expense to dispute any such payment.

2

 

	6.	 	SETTLEMENT

	 	6.1	 	The Employee represents and warrants that:

he has instructed the Adviser who is referred to in paragraph 10
to advise whether he has or may have any Statutory Claims (as defined in
paragraph 6.5) against the Company, any Group Company, or any of its or their
partners, shareholders, officers, employees or agents arising out of or in
connection with his employment by the Company and its termination; and

he has provided the Adviser with whatever information is in his
possession to enable the Adviser to advise whether he has or may have any such
Statutory Claims; and

he, having had legal advice from the Adviser, may have Specified
Claims for [damages for wrongful dismissal or other breach of contract,
compensation for unfair dismissal, including any basic or compensatory award,
redundancy payments statutory or contractual or otherwise, to include the
statutory sum of £[ ], unlawful deduction of wages, unlawful detriment on
health and safety grounds, a protective award, breach of the Employment Rights
Act 1996, the Employment Act 2002, the National Minimum Wage Act 1998, the
Equal Pay Act 1970, the Data Protection Act 1998, the Sex Discrimination Act
1975, the Race Relations Act 1976, the Disability Discrimination Act 1995, the
Transfer of Undertakings (Protection of Employment) Regulations 1981, the
Working Time Regulations 1998, the Trade Union and Labour Relations
(Consolidation) Act 1998, the Employment Relations Act 1999, Transitional
Information and Consultation of Employees Regulations 1999, the Part time
Workers (Prevention of Less Favourable Treatment) Regulations 2001, the
Fixed-Term Employees (Prevention of Less Favourable Treatment) Regulations
2002, the Fixed-Term Employees (Prevention of Less Favourable Treatment)
Regulations 2002, the Employment Equality (Religion or Belief) Regulations
2003, the Employment Equality (Sexual Orientation) Regulations 2003, the
Employment Act 2002 (Dispute Resolution) Regulations 2004 and any claims in
respect of which a Conciliation Officer is authorised to act [Adviser to
delete unnecessary claims] against the Company, any Group Company, or its
officers or employees (the “Specified Claims”), which have been raised with or
notified to the Company and he, having had legal advice from the Adviser, has
no Statutory Claims other than those referred to in this paragraph 5.1(c)
against the Company, any Group Company or any of its or their partner,
shareholders, officers, employees or agents, arising out of or in connection
with his employment with the Company and its termination.

3

 

	 	6.2	 	The Specified Claims are unconditionally and irrevocably waived by the
Employee and will not be repeated, referred to or pursued either by the Employee or by
anyone else on his behalf save as allowed for in paragraph 6.3(c).
	 
	 	6.3	 	The Employee agrees that the terms of this agreement are in full and final
settlement of:
	 
	 	 	 	the Specified Claims;
	 
	 	 	 	any Statutory Claims;

all other claims and rights of action (whether under common law
or otherwise) in any jurisdiction in the world, howsoever arising (including
but not limited to contractual claims and tortious claims), which the Employee
(or anyone on his behalf) has or may have against the Company, any Group
Company, or and of its or their partners, officers, shareholders, employees or
agents arising from or connected with the Employee’s employment by the
Company, its termination and any other matter concerning the Company or any
Group Company whether such claims are known or unknown to the Company and/or
the Employee and whether or not they are or could be in the contemplation of
the Company and the Employee at the signature of this Agreement, including
claims which as a matter or law do not at the date of this Agreement exist and
whose existence cannot currently be foreseen with the exception that this
paragraph 6.3 shall not apply to any pensions benefits which have accrued to
the Employee up to the Termination Date, or to any claims for damages for
personal injury relating to the Employee but not for any claims of
compensation or damages for personal injury which may be brought pursuant to
discrimination legislation.

	 	6.4	 	For the avoidance of doubt, the above clause 6.3 includes but without
limitation to the generality of the clause all and any claims to or rights in any
equity awards, stock or stock options held by the Employee as at the Termination Date.
	 
	 	6.5	 	The Employee warrants that he is not aware of any claim for damages for
personal injury (or any circumstances giving rise to one) or any claim arising or in
connection with his pension or accrued rights as at the date of this Agreement.
	 
	 	6.6	 	A Statutory Claim for the purposes of this paragraph 6 means any claim for or
relating to unfair dismissal, a statutory redundancy payment, equal pay, sex, race or
disability discrimination, working time, unauthorised deduction from wages, unlawful
detriment on health and safety grounds, a protective award, minimum wage, data
protection, part time work, flexible working, information and consultation or any
other statutory employment rights which the

4

 

	 	 	 	Employee (or anyone on his behalf), has or may have under the Employment Rights Act
1996, the Employment Act 2002, the Equal Pay Act 1970, the Sex Discrimination Act
1975, the Race Relations Act 1976, the Disability Discrimination Act 1995, the
Transfer of Undertakings (Protection of Employment) Regulations 1981, the Working
Time Regulations 1998, the Trade Union and Labour Relations (Consolidation) Act
1998, the Employment Relations Act 1999, Transitional Information and Consultation
of Employees Regulations 1999, the Part time Workers (Prevention of Less Favourable
Treatment) Regulations 2001, the Fixed-term Employees (Prevention of Less
Favourable Treatment) Regulations 2002, the Employment Equality (Religion or
Belief) Regulations 2003, the Employment Equality (Sexual Orientation) Regulations
2003, the Employment Act 2002 (Dispute Resolution) Regulations 2004 and any Treaty,
Directive, Regulation or Recommendation of the European Union relating to
employment rights.
	 
	 	6.7	 	It is a fundamental term of this Agreement that:

	 	(a)	 	the Employee in signing this Agreement agrees to waive claims
against the Company that may arise between the date of this Agreement and the
Termination of his employment;
	 
	 	(b)	 	the Employee shall refrain from issuing or pursuing any type
of employment related proceedings in respect of the Specified Claims, any
other Statutory Claim, any other claim referred to in paragraph 6.3(c) or any
contractual or common law claim (howsoever arising) (with the exception of any
claim for accrued pension rights or pension benefits or for damages for
personal injury but not any claim for compensation or damages which may be
brought pursuant to discrimination legislation) against the Company, any Group
Company, or and of its or their partners, officers, employees or agents (and
whether in an Employment Tribunal, the High Court, a County Court or
otherwise) save in respect of any claim brought by the Employee to enforce any
of the terms and conditions of this Agreement;
	 
	 	(c)	 	if the Employee subsequently issues or pursues such
employment related proceedings in breach of this Agreement or breaches any
term of this Agreement and if the Sum has been paid to the Employee, the Sum
shall be payable to the Company forthwith on demand and shall be recoverable
as a debt, together with all costs (including legal costs) incurred by the
Company or by any Group Company or their partners, officers or employees (as
applicable), in recovering the sum and/or in relation to any proceedings so
brought by the Employee.

5

 

	 	6.8	 	The repayment provisions of paragraph 6.6(c) shall be without prejudice to
the Company’s right to seek further damages from the Employee in respect of the breach
referred to in this paragraph and any other breach of this Agreement.
	 
	 	6.9	 	The Employee acknowledges that the Company has relied on this paragraph 6 in
deciding to enter into this Agreement.

	7.	 	COMPANY PROPERTY

	 	7.1	 	The Employee confirms that he has delivered up to the Company without
retaining copies all records, documents, accounts, letters, papers, equipment, credit
cards, mobile telephone, laptop computer and other items and materials of any
description the property of the Company or of any Group Company or relating to the
affairs and business of the Company or any Group Company within his power, possession,
custody or control.

	8.	 	COVENANTS, WARRANTIES AND UNDERTAKINGS

	 	8.1	 	The Employee, as far as reasonably practicable the Company, agree to keep the
terms of this Agreement confidential, save that nothing in this Agreement shall
prevent the Company and/or the Employee from disclosing information as required by law
or to a professional adviser or in the case of the Employee to his immediate family in
confidence.
	 
	 	8.2	 	The Employee confirms that he will not hold himself out as having any
continuing connection with the Company or any Group Company following the termination
of his employment with the Company save with the express written consent of the
Company.
	 
	 	8.3	 	The Employee warrants that he is not aware that he has breached any of his
obligations to the Company or Group Company, whether under the terms of the Service
Agreement or otherwise.
	 
	 	8.4	 	The Employee, and as far as reasonably practicable the Company, undertake
that they will at all times refrain from making any statements (whether orally or in
writing) which are intended to be disparaging or otherwise detrimental to the
reputation of the other and in the case of the Employee to include any Group Company,
the business of the Company or any Group Company, or any of its or theirs
shareholders, officers, employees and agents.
	 
	 	8.5	 	The Employee recognises and accepts the validity and enforceability of his
obligations as to confidentiality set out in paragraph 12 of the Service Agreement and
undertakes to observe the same.
	 
	 	8.6	 	The Employee recognises and accepts the validity and enforceability of the
post termination restrictions set out in paragraph 14 of the Service Agreement and
agrees to observe the same.

6

 

	 	8.7	 	The Employee agrees that after the Termination Date he will on reasonable
notice co-operate with the Company or Group Company and its advisers, or regulators,
and provide such advice and assistance as may reasonably be required by the Company or
Group Company in relation to any matters about which the Employee has knowledge as a
consequence of his employment with the Company. Such co-operation will include,
without limitation, attending interviews with the Company or Group Company and/or its
advisers/regulators, preparing witness statements and appearing as a witness at any
relevant enquires or proceedings.
	 
	 	8.8	 	The Employee confirms that he has been given the opportunity to make
disclosures about misconduct within the Company or Group Company. The Employee
confirms that he knows of no information relating to any individual or organisation
within the Company or Group Company whose behaviour or action might be deemed to be a
criminal offence, a failure to comply with statutory obligations, a miscarriage of
justice, a cause of damage to the environment, and/or an unethical business practice.

	9.	 	MONIES RECEIVED

	 	9.1	 	If contrary to the belief of the Company and the Employee any of the Specified
Claims, Statutory Claims or any other claims are not effectively compromised by this
Agreement and the Employee pursues any claim or claims in any court or tribunal and is
such claim or claims should succeed then any payments under this Agreement shall be
brought into account when calculating any awards of damages or compensation or any
such sum or sums to be paid to the Employee by order of the Court or Tribunal.

	10.	 	INDEPENDENT ADVICE

	 	10.1	 	The Employee hereby warrants and acknowledges that:-

	 	10.1.1	 	He has received independent legal advice from [     ] of [    
] Solicitors (“the Advisor”) as to the terms and effects of this Agreement
and in particular to his ability to pursue his rights before an Employment
Tribunal;
	 
	 	10.1.2	 	[     ] is a “relevant independent adviser” within the meaning
of Section 203(4) of the Employment Rights Act 1996 (as amended by the
Section 9 of the Employment Rights (Dispute Resolution) Act 1998) (”the Act”)
and at the time of giving such advice there was in force a contract of
insurance or an indemnity provided for members of a profession or
professional body such as is referred to in Section 203(3)(d) (as amended) of
the Act covering the risks of a claim by the Employee in respect of any loss
arising in consequence of that advice.

7

 

	 	10.1.3	 	He will procure that the Advisor signs the certificate at Schedule 1 and
sends this to the Company together with a signed copy of this Agreement.

	11.	 	LEGAL EXPENSES

	 	11.1	 	The Company shall on the production of an appropriate copy VAT invoice
addressed to the Employee but marked payable by the Company, pay to the Advisor’s firm
the sum of £250 exclusive of VAT in respect of the Employee’s legal expenses relating
exclusively to the negotiation and preparation of this Agreement.

	12.	 	Statutory conditions satisfied

	 	12.1	 	This Agreement is entered into pursuant to the provisions of section 203(3)
Employment Rights Act 1996, section 77(4A) of the Sex Discrimination Act 1975, section
72(4A) of the Race Relations Act 1976, section 9(3) of the Disability Discrimination
Act 1995, section 288 of the Trade Union and Labour Relations (Consolidation) Act
1992, Regulation 35 of the Working Time Regulations 1998, section 49(4) of the
National Minimum Wage Act 1998 and Regulation 41 of the Transnational Information and
Consultation of Employees Regulations 1999 Schedule 4 of the Employment Equality
(Sexual Orientation) Regulations 2003, Schedule 4 of the Employment Equality (Religion
or Belief) Regulations 2003 and the Company and the Employee confirm that the
conditions regulating Compromise Agreements in those Acts have been satisfied.

	13.	 	THIRD PARTY RIGHTS

	 	13.1	 	Each Group Company and any shareholder, officer or employee of the Company or
any Group Company may enforce the terms of this Agreement where such term is expressed
for such company’s or person’s benefit in accordance with the Contract (Rights of
Third Parties) Act 1999.

	14.	 	GENERAL

	 	14.1	 	The headings to clauses are for interpretation only and have no legal effect.
	 
	 	14.2	 	Any reference in the Agreement in to Group Company includes:

	 	14.2.1	 	any company which for the time being is a holding company of the Company or
a subsidiary of the Company (both as defined by section 736 of the Companies
Act 1985), or a subsidiary of a holding company (as defined);
	 
	 	14.2.2	 	any associated company which is any company whose equity share capital (as
defined in section 744 Companies Act 1985) is more than 25 per cent and less
than 50 per cent beneficially owned by the Company or any holding company of
the Company

8

 

	 	 	 	for the time being and from time to time and any subsidiaries of the
Company or of any such holding.
	 
	 	14.2.3	 	Any company that formerly fell within 14.2.1 and 14.2.2. above.

	 	14.3	 	This Agreement sets out the entire agreement between the Company and the Employee
and supersedes all prior discussions between them or their advisors and all statements,
representations, terms and conditions, warranties, guarantees and proposals,
communications and undertakings whether given orally or in writing save in respect of
the provisions of the Service Agreement not amended in this Agreement which will
continue in full force and effect.
	 
	 	14.4	 	Whilst the provisions of this Agreement are considered by the Company and the
Employee to be reasonable in all the circumstances for the protection of the legitimate
interests of the Company it is recognised that some or any of the provisions may fail
for technical reasons unforeseen and accordingly it is agreed that if any such provision
shall be adjudged to be void as going beyond what is reasonable in the all the
circumstances but would be valid if part of the wording were deleted the provisions
shall apply with such modification as may be necessary to make them valid and effective.
	 
	 	14.5	 	This Agreement shall be governed by the laws of England and any dispute arising
hereunder shall be subject to the exclusive jurisdiction of the English Court.

This Agreement although marked “without prejudice” and “subject to contract” will upon signature by
the Company and the Employee be treated as an open document evidencing an agreement binding on the
Company and the Employee.

	 	 	 	 	 
	SIGNED by
	 	 	 	 
	 

	 	 	 	 
	 

	 	John Kirby
	 	 
	 
	 	 	 	 
	DATED
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	SIGNED by
	 	 	 	 
	 

	 	 	 	 
	 

	 	For and on behalf of Cronos Containers Limited	 	 
	 
	 	 	 	 
	DATED
	 	 	 	 
	 

	 	 	 	 

9

 

[TO BE TYPED ON HEADED PAPER]

SCHEDULE 1

I, [          ] of [          ] Solicitors confirm that I have given independent
legal advice to John Kirby of [Buckinghamshire, England] as to the terms and effect of the above
Agreement and in particular the effect on his ability to pursue his rights before an Employment
Tribunal.

I confirm that I am a Solicitor of the Supreme court holding a current Practice certificate and at
the time I gave such advice there was in force a contract of insurance being a “contract of
insurance” such as is referred to in Section 203(3)(d) of the Employment Rights Act 1996 (as
amended) covering the risk of a claim by John Kirby in respect of any loss arising in consequence
of that advice.

	 	 	 	 	 
	SIGNED

	 	 	 	 
	 

	 	 	 	 

[          ] Solicitors

[Address]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]