Document:

Registration Agreement

 Exhibit 10.13 
  
 RUTH’S CHRIS STEAK HOUSE, INC.

 2005 LONG-TERM EQUITY INCENTIVE PLAN

  

	1.	Purpose. 

  
 This plan shall be known as the Ruth’s Chris Steak House, Inc. 2005 Long-Term Equity Incentive Plan (the “Plan”). The purpose of the Plan
shall be to promote the long-term growth and profitability of Ruth’s Chris Steak House, Inc. (the “Company”) and its Subsidiaries by (i) providing certain directors, officers and employees of, and certain other individuals who perform
services for, the Company and its Subsidiaries with incentives to maximize stockholder value and otherwise contribute to the success of the Company and (ii) enabling the Company to attract, retain and reward the best available persons for positions
of responsibility. Grants of incentive or non-qualified stock options, restricted stock, restricted stock units, deferred stock units, performance awards, or any combination of the foregoing may be made under the Plan. 
  

	2.	Definitions. 

  
 (a) “Board of Directors” and “Board” mean the board of directors of the Company. 
  
 (b) “Cause” means (i) a Participant’s theft or embezzlement,
or attempted theft or embezzlement, of money or property of the Company, a Participant’s perpetration or attempted perpetration of fraud, or a Participant’s participation in a fraud or attempted fraud, on the Company or a
Participant’s unauthorized appropriation of, or a Participant’s attempt to misappropriate, any tangible or intangible assets or property of the Company, (ii) any act or acts of disloyalty or misconduct by a participant injurious to the
interest, property, operations, business or reputation of the Company or a Participant’s commission of a felony or crime or act of moral turpitude or (iii) a Participant’s willful disregard of a directive given by a superior or the Board
or a violation of a Company employment policy. 
  
 (c)
“Change in Control” means the occurrence of one of the following events: 
  
 (i) if any “person” or “group” as those terms are used in Sections 13(d) and 14(d) of the Exchange Act or any
successors thereto, other than an Exempt Person, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act or any successor thereto), directly or indirectly, of securities of the Company representing 50% or more
of the combined voting power of the Company’s then outstanding securities; or 
  
 (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new
directors whose election by the Board or nomination for election by the Company’s stockholders was approved by at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election
was previously so approved, cease for any reason to constitute a majority thereof; or 
  
 (iii) consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation (A) which
would result in all or a 

  

 
portion of the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (B) by which the
corporate existence of the Company is not affected and following which the Company’s chief executive officer and directors retain their positions with the Company (and constitute at least a majority of the Board); or 
  
 (iv) consummation of a plan of complete liquidation of the
Company or a sale or disposition by the Company of all or substantially all the Company’s assets, other than a sale to an Exempt Person. 
  
 (d) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (e) “Committee” means the Compensation Committee of the Board, which shall consist solely of two or more members
of the Board. 
  
 (f) “Common Stock” means the Common
Stock, par value $0.01 per share, of the Company, and any other shares into which such stock may be changed by reason of a recapitalization, reorganization, merger, consolidation or any other change in the corporate structure or capital stock of the
Company. 
  
 (g) “Competition” is deemed to occur if a
person whose employment with the Company or its Subsidiaries has terminated obtains a position as a full-time or part-time employee of, as a member of the board of directors of, or as a consultant or advisor with or to, or acquires an ownership
interest in excess of 5% of, a corporation, partnership, firm or other entity that engages in any of the businesses of the Company or any Subsidiary with which the person was involved in a management role at any time during his or her last five
years of employment with or other service for the Company or any Subsidiaries. 
  
 (h) “Disability” occurs if a participant: 
  
 (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or 
  
 (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the participant’s employer. 
  
 (i) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
  
 (j) “Exempt Person” means (i) Madison
Dearborn Partners, LLC, Madison Dearborn Partners III, L.P., Madison Dearborn Capital Partners III, L.P., Madison Dearborn Special Equity III, L.P. or Special Advisors Fund I, LLC or any of their affiliates, (ii) any person, 

  

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entity or group under the control of any party included in clause (i), or (iii) any employee benefit plan of the Company or a trustee or other administrator
or fiduciary holding securities under an employee benefit plan of the Company. 
  
 (k) “Family Member” has the meaning given to such term in General Instructions A.1(a)(5) to Form S-8 under the Securities Act of 1933, as amended, and any successor thereto. 
  
 (l) “Fair Market Value” of a share of Common Stock of the Company
means, as of the date in question, the officially-quoted closing selling price of the stock (or if no selling price is quoted, the bid price) on the principal securities exchange on which the Common Stock is then listed for trading (including for
this purpose the Nasdaq National Market) (the “Market”) for the applicable trading day or, if the Common Stock is not then listed or quoted in the Market, the Fair Market Value shall be the fair value of the Common Stock determined in good
faith by the Board; provided, however, that when shares received upon exercise of an option are immediately sold in the open market, the net sale price received may be used to determine the Fair Market Value of any shares used to pay the exercise
price or applicable withholding taxes and to compute the withholding taxes. 
  
 (m) “Incentive Stock Option” means an option conforming to the requirements of Section 422 of the Code and any successor thereto. 
  
 (n) “Non-Employee Director” has the meaning given to such term in Rule 16b-3 under the Exchange Act and any
successor thereto. 
  
 (o) “Non-qualified Stock Option”
means any stock option other than an Incentive Stock Option. 
  
 (p) “Other Company Securities” mean securities of the Company other than Common Stock, which may include, without limitation, unbundled stock units or components thereof, debentures, preferred stock, warrants and securities
convertible into or exchangeable for Common Stock or other property. 
  
 (q) “Retirement” means retirement as defined under any Company pension plan or retirement program or termination of one’s employment on retirement with the approval of the Committee. 
  
 (r) “Subsidiary” means a corporation or other entity of which
outstanding shares or ownership interests representing 50% or more of the combined voting power of such corporation or other entity entitled to elect the management thereof, or such lesser percentage as may be approved by the Committee, are owned
directly or indirectly by the Company. 
  

	3.	Administration. 

  
 The Plan shall be administered by the Committee; provided that the Board may, in its discretion, at any time and from time to time, resolve to administer
the Plan, in which case the term “Committee” shall be deemed to mean the Board for all purposes herein. Subject to the 

  

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provisions of the Plan, the Committee shall be authorized to (i) select persons to participate in the Plan, (ii) determine the form and substance of grants
made under the Plan to each participant, and the conditions and restrictions, if any, subject to which such grants will be made, (iii) certify that the conditions and restrictions applicable to any grant have been met, (iv) modify the terms of
grants made under the Plan, (v) interpret the Plan and grants made thereunder, (vi) make any adjustments necessary or desirable in connection with grants made under the Plan to eligible participants located outside the United States and (vii) adopt,
amend, or rescind such rules and regulations, and make such other determinations, for carrying out the Plan as it may deem appropriate. Decisions of the Committee on all matters relating to the Plan shall be in the Committee’s sole discretion
and shall be conclusive and binding on all parties. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with applicable federal and state laws and rules and
regulations promulgated pursuant thereto and the rules and regulations of the principal securities exchange on which the Common Stock is then listed for trading. No member of the Committee and no officer of the Company shall be liable for any action
taken or omitted to be taken by such member, by any other member of the Committee or by any officer of the Company in connection with the performance of duties under the Plan, except for such person’s own willful misconduct or as expressly
provided by statute. 
  
 The expenses of the Plan shall be borne
by the Company. The Plan shall not be required to establish any special or separate fund or make any other segregation of assets to assume the payment of any award under the Plan, and rights to the payment of such awards shall be no greater than the
rights of the Company’s general creditors. 
  

	4.	Shares Available for the Plan. 

  
 Subject to adjustments as provided in Section 16 hereof, an aggregate of 2,241,275 shares of Common Stock may be issued pursuant to the Plan
(collectively, the “Shares”). Such Shares may be in whole or in part authorized and unissued or held by the Company as treasury shares. If any grant under the Plan expires or terminates unexercised, becomes unexercisable or is forfeited as
to any Shares, or is tendered or withheld as to any shares in payment of the exercise price of the grant or the taxes payable with respect to the exercise, then such unpurchased, forfeited, tendered or withheld Shares shall thereafter be available
for further grants under the Plan. 
  
 Without limiting the
generality of the foregoing provisions of this Section 4 or the generality of the provisions of Sections 3, 6 or 17 or any other section of this Plan, the Committee may, at any time or from time to time, and on such terms and conditions (that are
consistent with and not in contravention of the other provisions of this Plan) as the Committee may, in its sole discretion, determine, enter into agreements (or take other actions with respect to the options) for new options containing terms
(including exercise prices) more (or less) favorable than the outstanding options. 
  

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	5.	Participation. 

  
 Participation in the Plan shall be limited to those directors (including Non-Employee Directors), officers (including non-employee officers) and employees
of, and other individuals performing services for, the Company and its Subsidiaries selected by the Committee (including participants located outside the United States). Nothing in the Plan or in any grant thereunder shall confer any right on a
participant to continue in the service or employ as a director or officer of or in the performance of services for the Company or a Subsidiary or shall interfere in any way with the right of the Company or a Subsidiary to terminate the employment or
performance of services or to reduce the compensation or responsibilities of a participant at any time. By accepting any award under the Plan, each participant and each person claiming under or through him or her shall be conclusively deemed to have
indicated his or her acceptance and ratification of, and consent to, any action taken under the Plan by the Company, the Board or the Committee. 
  
 Incentive Stock Options or Non-qualified Stock Options, restricted stock awards, restricted stock unit or deferred stock unit awards, performance awards,
or any combination thereof, may be granted to such persons and for such number of Shares as the Committee shall determine (such individuals to whom grants are made being sometimes herein called “optionees” or “grantees,” as the
case may be). Determinations made by the Committee under the Plan need not be uniform and may be made selectively among eligible individuals under the Plan, whether or not such individuals are similarly situated. A grant of any type made hereunder
in any one year to an eligible participant shall neither guarantee nor preclude a further grant of that or any other type to such participant in that year or subsequent years. 
  

	6.	Incentive and Non-qualified Options. 

  
 The Committee may from time to time grant to eligible participants Incentive Stock Options, Non-qualified Stock Options, or any combination thereof;
provided that the Committee may grant Incentive Stock Options only to eligible employees of the Company or its subsidiaries (as defined for this purpose in Section 424(f) of the Code or any successor thereto). In any one calendar year, the Committee
shall not grant to any one participant options to purchase a number of shares of Common Stock in excess of 1,120,637 (as adjusted pursuant to Section 15 hereof). The options granted shall take such form as the Committee shall determine, subject to
the following terms and conditions. 
  
 It is the Company’s
intent that Non-qualified Stock Options granted under the Plan not be classified as Incentive Stock Options, that Incentive Stock Options be consistent with and contain or be deemed to contain all provisions required under Section 422 of the Code
and any successor thereto, and that any ambiguities in construction be interpreted in order to effectuate such intent. If an Incentive Stock Option granted under the Plan does not qualify as such for any reason, then to the extent of such
non-qualification, the stock option represented thereby shall be regarded as a Non-qualified Stock Option duly granted under the Plan, provided that such stock option otherwise meets the Plan’s requirements for Non-qualified Stock Options.

  

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 (a) Price. The price per Share deliverable upon the exercise of each option (“exercise
price”) may not be less than 100% of the Fair Market Value of a share of Common Stock as of the date of grant of the option, and in the case of the grant of any Incentive Stock Option to an employee who, at the time of the grant, owns more than
10% of the total combined voting power of all classes of stock of the Company or any of its Subsidiaries, the exercise price may not be less than 110% of the Fair Market Value of a share of Common Stock as of the date of grant of the option, in each
case unless otherwise permitted by Section 409A and Section 422 of the Code or any successor thereto. 
  
 (b) Payment. Options may be exercised, in whole or in part, upon payment of the exercise price of the Shares to be acquired. Unless otherwise
determined by the Committee, payment shall be made (i) in cash (including check, bank draft, money order or wire transfer of immediately available funds), (ii) by delivery of outstanding shares of Common Stock with a Fair Market Value on the date of
exercise equal to the aggregate exercise price payable with respect to the options’ exercise, (iii) by simultaneous sale through a broker reasonably acceptable to the Committee of Shares acquired on exercise, as permitted under Regulation T of
the Federal Reserve Board or (iv) by any combination of the foregoing. 
  
 In the event a grantee elects to pay the exercise price payable with respect to an option pursuant to clause (ii) above, (A) only a whole number of share(s) of Common Stock (and not fractional shares of Common Stock) may be tendered in
payment, (B) such grantee must present evidence acceptable to the Company that he or she has owned any such shares of Common Stock tendered in payment of the exercise price (and that such tendered shares of Common Stock have not been subject to any
substantial risk of forfeiture) for at least six months prior to the date of exercise, and (C) Common Stock must be delivered to the Company. Delivery for this purpose may, at the election of the grantee, be made either by (1) physical delivery of
the certificate(s) for all such shares of Common Stock tendered in payment of the price, accompanied by duly executed instruments of transfer in a form acceptable to the Company, or (2) direction to the grantee’s broker to transfer, by book
entry, such shares of Common Stock from a brokerage account of the grantee to a brokerage account specified by the Company. When payment of the exercise price is made by delivery of Common Stock, the difference, if any, between the aggregate
exercise price payable with respect to the option being exercised and the Fair Market Value of the shares of Common Stock tendered in payment (plus any applicable taxes) shall be paid in cash. No grantee may tender shares of Common Stock having a
Fair Market Value exceeding the aggregate exercise price payable with respect to the option being exercised (plus any applicable taxes). 
  
 (c) Terms of Options. The term during which each option may be exercised shall be determined by the Committee, but if required by the Code and
except as otherwise provided herein, no option shall be exercisable in whole or in part more than ten years from the date it is granted, and no Incentive Stock Option granted to an employee who at the time of the grant owns more than 10% of the
total combined voting power of all classes of stock of the Company or any of its Subsidiaries shall be exercisable more than five years from the date it is granted. All rights to purchase Shares pursuant to an option shall, unless sooner terminated,
expire at the date designated by the Committee. The Committee shall determine the date on which each option shall become exercisable and may provide that an option shall become 

  

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exercisable in installments. The Shares constituting each installment may be purchased in whole or in part at any time after such installment becomes
exercisable, subject to such minimum exercise requirements as may be designated by the Committee. Prior to the exercise of an option and delivery of the Shares represented thereby, the optionee shall have no rights as a stockholder with respect to
any Shares covered by such outstanding option (including any dividend or voting rights). 
  
 (d) Limitations on Grants. If required by the Code, the aggregate Fair Market Value (determined as of the grant date) of Shares for which an Incentive Stock Option is exercisable for the first time during any
calendar year under all equity incentive plans of the Company and its Subsidiaries (as defined in Section 422 of the Code or any successor thereto) may not exceed $100,000. 
  
 (e) Termination; Forfeiture. 
  
 (i) Death or Disability. If a participant ceases to be a director, officer or employee of, or to
perform other services for, the Company or any Subsidiary due to death or Disability, a number of options equal to the sum of (i) the number of options that were exercisable on the date of the participant’s death or Disability plus (ii) such
additional number of options to which the participant would have been entitled had the participant’s employment continued for one year following the date of termination, shall become fully vested and exercisable and shall remain so for a period
of 180 days from the date of such death or Disability; provided that the participant does not engage in Competition during such 180-day period unless he or she received written consent to do so from the Board or the Committee; provided further that
the Board or Committee may extend such exercise period (and related non-competition period) in its discretion, but in no event may such extended exercise period extend beyond the expiration date of the options. Remaining options that were not
exercisable on the date of a Participant’s death or Disability as set forth in the preceding sentence shall expire and be forfeited. Notwithstanding the foregoing, if the Disability giving rise to the termination of employment is not within the
meaning of Section 22(e)(3) of the Code or any successor thereto, Incentive Stock Options not exercised by such participant within 90 days after the date of termination of employment will cease to qualify as Incentive Stock Options and will be
treated as Non-qualified Stock Options under the Plan if required to be so treated under the Code. 
  
 (ii) Retirement. If a participant ceases to be a director, officer or employee of, or to perform other services for, the Company or
any Subsidiary upon the occurrence of his or her Retirement, (A) all of the participant’s options that were exercisable on the date of Retirement shall remain exercisable for, and shall otherwise terminate at the end of, a period of 90 days
after the date of Retirement, but in no event after the expiration date of the options; provided that the participant does not engage in Competition during such 90 day period unless he or she receives written consent to do so from the Board or the
Committee; provided further that the Board or the Committee may extend such exercise period (and related non-competition period) in its discretion, but in no event may such extended exercise period extend beyond the expiration date of the options,
and (B) all of the participant’s options that were not exercisable on the date of Retirement shall be forfeited immediately upon such Retirement; provided, however, that such options may become fully vested and exercisable in the discretion

  

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of the Committee. Notwithstanding the foregoing, Incentive Stock Options not exercised by such participant within 90 days after Retirement will cease to
qualify as Incentive Stock Options and will be treated as Non-qualified Stock Options under the Plan if required to be so treated under the Code. 
  
 (iii) Termination for Cause. If a participant ceases to be a director, officer or employee of, or to perform other services for,
the Company or a Subsidiary due to Cause, all of the participant’s options shall expire and be forfeited on the date the Company or a Subsidiary delivers to the Participant notice of termination of employment for Cause, whether or not then
exercisable. 
  
 (iv) Other Termination.
Unless otherwise determined by the Committee, if a participant ceases to be a director, officer or employee of, or to otherwise perform services for, the Company or a Subsidiary for any reason other than death, Disability, Retirement or discharge
for Cause, (A) all of the participant’s options that were exercisable on the date of such cessation shall remain exercisable for, and shall otherwise terminate at the end of, a period of 30 days after the date of such cessation, but in no event
after the expiration date of the options; provided that the participant does not engage in Competition during such 30-day period unless he or she receives written consent to do so from the Board or the Committee; provided further that the Board or
Committee may extend such exercise period (and related non-competition period) in its discretion, but in no event may such extended exercise period extend beyond the expiration date of the options, and (B) all of the participant’s options that
were not exercisable on the date of such cessation shall be forfeited immediately upon such cessation. 
  
 (v) Change in Control. If there is a Change in Control of the Company and a Participant is terminated from being a director,
officer or employee of, or from performing other services for, the Company or a Subsidiary within one year after such Change in Control, all of the participant’s options shall become fully vested and exercisable upon such termination and shall
remain so for up to one year after the date of termination, but in no event after the expiration date of the options. In addition, the Committee shall have the authority to grant options that become fully vested and exercisable automatically upon a
Change in Control, whether or not the grantee is subsequently terminated. 
  
 (f) Grant of Reload Options. The Committee may provide (either at the time of grant or exercise of an option), in its discretion, for the grant to a grantee who exercises all or any portion of an option
(“Exercised Options”) and who pays all or part of such exercise price with shares of Common Stock, of an additional option (a “Reload Option”) for a number of shares of Common Stock equal to the sum (the “Reload
Number”) of the number of shares of Common Stock tendered for the Exercised Options plus, if so provided by the Committee, the number of shares of Common Stock, if any, tendered by the grantee in connection with the exercise of the Exercised
Options to satisfy any federal, state or local tax withholding requirements. The terms of each Reload Option, including the date of its expiration and the terms and conditions of its exercisability and transferability, shall be the same as the terms
of the Exercised Option to which it relates, except that (i) the grant date for each Reload Option shall be the date of exercise of the Exercised Option to which it relates and (ii) the exercise price for each 

  

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Reload Option shall be the Fair Market Value of the Common Stock on the grant date of the Reload Option. 
  

	7.	Restricted Stock. 

  
 The Committee may at any time and from time to time grant Shares of restricted stock under the Plan to such participants and in such amounts as it
determines. Each grant of Shares of restricted stock shall specify the applicable restrictions on such Shares, the duration of such restrictions (which shall be at least six months except as otherwise determined by the Committee or provided in the
third paragraph of this Section 7), and the time or times at which such restrictions shall lapse with respect to all or a specified number of Shares that are part of the grant. 
  
 The participant will be required to pay the Company the aggregate par value of any Shares of restricted stock (or such
larger amount as the Board may determine to constitute capital under Section 154 of the Delaware General Corporation Law, as amended, or any successor thereto) within ten days of the date of grant, unless such Shares of restricted stock are treasury
shares. Unless otherwise determined by the Committee, certificates representing Shares of restricted stock granted under the Plan will be held in escrow by the Company on the participant’s behalf during any period of restriction thereon and
will bear an appropriate legend specifying the applicable restrictions thereon, and the participant will be required to execute a blank stock power therefor. Except as otherwise provided by the Committee, during such period of restriction the
participant shall have all of the rights of a holder of Common Stock, including but not limited to the rights to receive dividends and to vote, and any stock or other securities received as a distribution with respect to such participant’s
restricted stock shall be subject to the same restrictions as then in effect for the restricted stock. 
  
 Except as otherwise provided by the Committee, if a participant ceases to be a director, officer or employee of, or to otherwise perform services for, the
Company and its Subsidiaries due to death or Disability during any period of restriction, a number of shares of restricted stock equal to the sum of (i) the number of shares of restricted stock for which the restrictions have lapsed plus (ii) the
number of shares of restricted stock for which the restrictions will have lapsed within one year following the date of termination. At such time as a participant ceases to be a director, officer or employee of, or otherwise performing services for,
the Company or its Subsidiaries for any other reason, all Shares of restricted stock granted to such participant on which the restrictions have not lapsed shall be immediately forfeited to the Company. 
  
 If there is a Change in Control of the Company and a participant is
terminated from being a director, officer or employee of, or from performing other services for, the Company or a subsidiary within one year after such Change in Control, all restrictions on Shares of restricted stock granted to such participant
shall lapse. In addition, the Committee shall have the authority to grant shares of restricted stock with respect to which all restrictions shall lapse automatically upon a Change in Control, whether or not the grantee is subsequently terminated.

  

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	8.	Restricted Stock Units; Deferred Stock Units. 

  
 The Committee may at any time and from time to time grant restricted stock units under the Plan to such participants and in such amounts as it determines.
Each grant of restricted stock units shall specify the applicable restrictions on such units, the duration of such restrictions (which shall be at least six months except as otherwise determined by the Committee or provided in the third paragraph of
this Section 8), and the time or times at which such restrictions shall lapse with respect to all or a specified number of units that are part of the grant. 
  
 Each restricted stock unit shall be equivalent in value to one share of Common Stock and shall entitle the participant to receive from the Company at the
end of the vesting period (the “Vesting Period”) applicable to such unit one Share, unless the participant elects in a timely fashion to defer the receipt of such Shares, as provided below. Restricted stock units may be granted without
payment of cash or consideration to the Company; provided that participants shall be required to pay to the Company the aggregate par value of the Shares received from the Company within ten days of the issuance of such Shares unless such Shares are
treasury shares. 
  
 Except as otherwise provided by the
Committee, during the restriction period the participant shall not have any rights as a shareholder of the Company; provided that the participant shall have the right to receive accumulated dividends or distributions with respect to the
corresponding number of shares of Common Stock underlying each restricted stock unit at the end of the Vesting Period, unless such restricted stock units are converted into deferred stock units, in which case such accumulated dividends or
distributions shall be paid by the Company to the participant at such time as the deferred stock units are converted into Shares. 
  
 Except as otherwise provided by the Committee, if a participant ceases to be a director, officer or employee of, or to otherwise perform services for, the
Company or any Subsidiary due to death, Disability or Retirement during any period of restriction, all restrictions on restricted stock units granted to such participant shall lapse. At such time as a participant ceases to be a director, officer or
employee of, or otherwise performing services for, the Company or any Subsidiary for any other reason, all restricted stock units granted to such participant on which the restrictions have not lapsed shall be immediately forfeited to the Company.

  
 If there is a Change in Control of the Company and a
participant is terminated from being a director, officer or employee of, or from performing other services for, the Company or any Subsidiary within one year after such Change in Control, all restrictions on restricted stock units granted to such
participant shall lapse. In addition, the Committee shall have the authority to grant restricted stock units with respect to which all restrictions shall lapse automatically upon a Change in Control, whether or not the grantee is subsequently
terminated. 
  
 A participant may elect by written notice to the
Company, which notice must be made before the later of (i) the close of the tax year preceding the year in which the restricted stock units are granted or (ii) 30 days of first becoming eligible to participate in the Plan (or, if earlier, the last
day of the tax year in which the participant first becomes eligible to participate in the plan) and on or prior to the date the restricted stock units are granted, to defer the receipt of 

  

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all or a portion of the Shares due with respect to the vesting of such restricted stock units; provided that the Committee may impose such additional
restrictions with respect to the time at which a participant may elect to defer receipt of Shares subject to the deferral election, and any other terms with respect to a grant of restricted stock units to the extent the Committee deems necessary to
enable the participant to defer recognition of income with respect to such units until the Shares underlying such units are issued or distributed to the participant. Upon such deferral, the restricted stock units so deferred shall be converted into
deferred stock units. Except as provided below, delivery of Shares with respect to deferred stock units shall be made at the end of the deferral period set forth in the participant’s deferral election notice (the “Deferral Period”).
Deferral Periods shall be no less than one year after the vesting date of the applicable restricted stock units. 
  
 Except as otherwise provided by the Committee, during such Deferral Period the participant shall not have any rights as a shareholder of the Company;
provided that, the participant shall have the right to receive accumulated dividends or distributions with respect to the corresponding number of shares of Common Stock underlying each deferred stock unit at the end of the Deferral Period when such
deferred stock units are converted into Shares. 
  
 Except as
otherwise provided by the Committee, if a Participant ceases to be a director, officer or employee of, or to otherwise perform services for, the Company or any Subsidiary upon his or her death prior to the end of the Deferral Period, the participant
shall receive payment in Shares in respect of such participant’s deferred stock units which would have matured or been earned at the end of such Deferral Period as if the applicable Deferral Period had ended as of the date of such
participant’s death. 
  
 Except as otherwise provided by the
Committee, if a participant ceases to be a director, officer or employee of, or to otherwise perform services for, the Company or any Subsidiary due to a Disability or upon Retirement or for any other reason except termination for Cause prior to the
end of the Deferral Period, the participant shall receive payment in Shares in respect of such participant’s deferred stock units at the end of the applicable Deferral Period or on such accelerated basis as the Committee may determine, to the
extent permitted by regulations issued under Section 409A(a)(3) of the Code. Provided, however, in the case of any “specified employee” as defined in Section 409A of the Code, distributions to such person, as a result of a Retirement or
other reason other than for cause, may not be made earlier than a date which is (A) 6 months following the date of separation from service or (B) such participant’s death. 
  
 Except as otherwise provided by the Committee, if a participant ceases to be a director, officer or employee of, or to
otherwise perform services for, the Company or any Subsidiary due to termination for Cause such participant shall immediately forfeit any deferred stock units which would have matured or been earned at the end of the applicable Deferral Period.

  
 Except as otherwise provided by the Committee, in the event of
a Change in Control that also constitutes a “change in the ownership or effective control of” the Company, or a change in the ownership of a substantial portion of the Company’s assets (in each case as determined under regulations
issued pursuant to Section 409A(a)(2)(A)(v) of the Code), a 

  

 11 

 
participant shall receive payment in Shares in respect of such participant’s deferred stock units which would have matured or been earned at the end of
the applicable Deferral Period as if such Deferral Period had ended immediately prior to the Change in Control; provided, however, that if an event that constitutes a Change in Control hereunder does not constitute a “change in control”
under Section 409A of the Code (or the regulations promulgated thereunder), no payments with respect to the deferred stock units shall be made under this paragraph to the extent such payments would constitute an impermissible acceleration under
Section 409A of the Code. 
  

	9.	Performance Awards. 

  
 Performance awards may be granted to participants at any time and from time to time as determined by the Committee. The Committee shall have complete
discretion in determining the size and composition of performance awards granted to a participant. The period over which performance is to be measured (a “performance cycle”) shall commence on the date specified by the Committee and shall
end on the last day of a fiscal year specified by the Committee. A performance award shall be paid no later than the 15th day of the third month following the completion of a performance cycle. Performance awards may include (i) specific dollar-value target awards (ii) performance units, the value of each such unit being determined by the Committee at
the time of issuance, and/or (iii) performance Shares, the value of each such Share being equal to the Fair Market Value of a share of Common Stock. 
  
 The value of each performance award may be fixed or it may be permitted to fluctuate based on a performance factor (e.g., return on equity) selected by
the Committee. 
  
 The Committee shall establish performance goals
and objectives for each performance cycle on the basis of such criteria and objectives as the Committee may select from time to time, including, without limitation, the performance of the participant, the Company, one or more of its Subsidiaries or
divisions or any combination of the foregoing. During any performance cycle, the Committee shall have the authority to adjust the performance goals and objectives for such cycle for such reasons as it deems equitable. 
  
 The Committee shall determine the portion of each performance award that is
earned by a participant on the basis of the Company’s performance over the performance cycle in relation to the performance goals for such cycle. The earned portion of a performance award may be paid out in Shares, cash, Other Company
Securities, or any combination thereof, as the Committee may determine. 
  
 A participant must be a director, officer or employee of, or otherwise perform services for, the Company or its Subsidiaries at the end of the performance cycle in order to be entitled to payment of a performance award issued in respect of
such cycle; provided, however, that except as otherwise determined by the Committee, if a participant ceases to be a director, officer or employee of, or to otherwise perform services for, the Company and its Subsidiaries upon his or her death,
Disability or Retirement prior to the end of the performance cycle, the participant shall earn a proportionate portion of the performance award based upon the elapsed portion of the performance cycle and the Company’s performance over that
portion of such cycle. 
  

 12 

 In the event of a Change in Control, a participant shall earn no less than the portion of the performance
award that the participant would have earned if the applicable performance cycle(s) had terminated as of the date of the Change in Control. 
  

	10.	Withholding Taxes. 

  
 (a) Participant Election. Unless otherwise determined by the Committee, a participant may elect to deliver shares of Common Stock (or have the
Company withhold shares acquired upon exercise of an option or deliverable upon grant or vesting of restricted stock, as the case may be) to satisfy, in whole or in part, the amount the Company is required to withhold for taxes in connection with
the exercise of an option or the delivery of restricted stock upon grant or vesting, as the case may be. Such election must be made on or before the date the amount of tax to be withheld is determined. Once made, the election shall be irrevocable.
The fair market value of the shares to be withheld or delivered will be the Fair Market Value as of the date the amount of tax to be withheld is determined. In the event a participant elects to deliver or have the Company withhold shares of Common
Stock pursuant to this Section 10(a), such delivery or withholding must be made subject to the conditions and pursuant to the procedures set forth in Section 6(b) with respect to the delivery or withholding of Common Stock in payment of the exercise
price of options. 
  
 (b) Company Requirement. The Company
may require, as a condition to any grant or exercise under the Plan or to the delivery of certificates for Shares issued hereunder, that the grantee make provision for the payment to the Company, either pursuant to Section 10(a) or this Section
10(b), of federal, state or local taxes of any kind required by law to be withheld with respect to any grant or delivery of Shares. The Company, to the extent permitted or required by law, shall have the right to deduct from any payment of any kind
(including salary or bonus) otherwise due to a grantee, an amount equal to any federal, state or local taxes of any kind required by law to be withheld with respect to any grant or delivery of Shares under the Plan. 
  

	11.	Written Agreement; Vesting. 

  
 Unless the Committee determines otherwise, each employee to whom a grant is made under the Plan shall enter into a written agreement with the Company that
shall contain such provisions, including without limitation vesting requirements, consistent with the provisions of the Plan, as may be approved by the Committee. Unless the Committee determines otherwise and except as otherwise provided in Sections
6, 7, 8 and 9 in connection with a Change in Control or certain occurrences of termination, no grant under this Plan may be exercised, and no restrictions relating thereto may lapse, within six months of the date such grant is made. 
  

	12.	Transferability. 

  
 Unless the Committee determines otherwise, no award granted under the Plan shall be transferable by a participant other than by will or the laws of
descent and distribution or to a participant’s Family Member by gift or a qualified domestic relations order as defined by the Code. Unless the Committee determines otherwise, an option may be exercised only by the optionee or grantee thereof;
by his or her Family Member if such person has acquired the option 

  

 13 

 
by gift or qualified domestic relations order; by the executor or administrator of the estate of any of the foregoing or any person to whom the option is
transferred by will or the laws of descent and distribution; or by the guardian or legal representative of any of the foregoing; provided that Incentive Stock Options may be exercised by any Family Member, guardian or legal representative only if
permitted by the Code and any regulations thereunder. All provisions of this Plan shall in any event continue to apply to any award granted under the Plan and transferred as permitted by this Section 12, and any transferee of any such award shall be
bound by all provisions of this Plan as and to the same extent as the applicable original grantee. 
  

	13.	Listing, Registration and Qualification. 

  
 If the Committee determines that the listing, registration or qualification upon any securities exchange or under any law of Shares subject to any option,
performance award, restricted stock unit, deferred stock unit or restricted stock grant is necessary or desirable as a condition of, or in connection with, the granting of same or the issue or purchase of Shares thereunder, no such option may be
exercised in whole or in part, no such performance award may be paid out, and no Shares may be issued, unless such listing, registration or qualification is effected free of any conditions not acceptable to the Committee. 
  

	14.	Transfer of Employee. 

  
 The transfer of an employee from the Company to a Subsidiary, from a Subsidiary to the Company, or from one Subsidiary to another shall not be considered
a termination of employment; nor shall it be considered a termination of employment if an employee is placed on military or sick leave or such other leave of absence which is considered by the Committee as continuing intact the employment
relationship. 
  

	15.	Adjustments. 

  
 In the event of a reorganization, recapitalization, stock split, stock dividend, combination of shares, merger, consolidation, distribution of assets, or
any other change in the corporate structure or shares of the Company, the Committee shall make such adjustment as it deems appropriate in the number and kind of Shares or other property available for issuance under the Plan (including, without
limitation, the total number of Shares available for issuance under the Plan pursuant to Section 4), in the number and kind of options, Shares, restricted stock units, deferred stock units or other property covered by grants previously made under
the Plan, and in the exercise price of outstanding options. Any such adjustment shall be final, conclusive and binding for all purposes of the Plan. In the event of any merger, consolidation or other reorganization in which the Company is not the
surviving or continuing corporation or in which a Change in Control is to occur, all of the Company’s obligations regarding awards that were granted hereunder and that are outstanding on the date of such event shall, on such terms as may be
approved by the Committee prior to such event, be (a) canceled in exchange for cash or other property (but, with respect to vested deferred stock units, only if such merger, consolidation, other reorganization, or Change in Control constitutes a
“change in ownership or control” of the Company or a “change in the ownership of a substantial portion” of the Company’s assets, as 

  

 14 

 
determined pursuant to regulations issued under Section 409A(a)(2)(A)(v) of the Code) or (b) assumed by the surviving or continuing corporation. 

 
 Without limitation of the foregoing, in connection with any transaction of
the type specified by clause (iii) of the definition of a Change in Control in Section 2(c), the Committee may, in its discretion, (i) cancel any or all outstanding options under the Plan in consideration for payment to the holders thereof of an
amount equal to the portion of the consideration that would have been payable to such holders pursuant to such transaction if their options had been fully exercised immediately prior to such transaction, less the aggregate exercise price that would
have been payable therefor, or (ii) if the amount that would have been payable to the option holders pursuant to such transaction if their options had been fully exercised immediately prior thereto would be equal to or less than the aggregate
exercise price that would have been payable therefor, cancel any or all such options for no consideration or payment of any kind. Payment of any amount payable pursuant to the preceding sentence may be made in cash or, in the event that the
consideration to be received in such transaction includes securities or other property, in cash and/or securities or other property in the Committee’s discretion. 
  

	16.	Amendment and Termination of the Plan. 

  
 The Board of Directors or the Committee, without approval of the stockholders, may amend or terminate the Plan, except that no amendment shall become
effective without prior approval of the stockholders of the Company if stockholder approval would be required by applicable law or regulations or by any listing requirement of the principal stock exchange on which the Common Stock is then listed.

  

	17.	Amendment or Substitution of Awards under the Plan. 

  
 The terms of any outstanding award under the Plan may be amended from time to time by the Committee in its discretion in any manner that it deems
appropriate, including, but not limited to, acceleration of the date of exercise of any award and/or payments thereunder or of the date of lapse of restrictions on Shares (but only to the extent permitted by regulations issued under Section
409A(a)(3) of the Code); provided that, except as otherwise provided in Section 15, no such amendment shall adversely affect in a material manner any right of a participant under the award without his or her written consent, and provided further
that the Committee shall not reduce the exercise price of any options awarded under the Plan without approval of the stockholders of the Company. The Committee may, in its discretion, permit holders of awards under the Plan to surrender outstanding
awards in order to exercise or realize rights under other awards, or in exchange for the grant of new awards, or require holders of awards to surrender outstanding awards as a condition precedent to the grant of new awards under the Plan, but only
if such surrender, exercise, realization, exchange, or grant (a) would not constitute a distribution of deferred compensation for purposes of Section 409A(a)(3) of the Code or (b) constitutes a distribution of deferred compensation that is permitted
under regulations issued pursuant to Section 409A(a)(3) of the Code. 
  

 15 

	18.	Commencement Date; Termination Date. 

  
 The date of commencement of the Plan shall be the date on which the Company’s Registration Statement on Form S-1 (File No. 333-124285) is declared
effective by the Securities and Exchange Commission. 
  
 Unless
previously terminated upon the adoption of a resolution of the Board terminating the Plan, the Plan shall terminate at the close of business on the ten year anniversary of the date of commencement. No termination of the Plan shall materially and
adversely affect any of the rights or obligations of any person, without his or her written consent, under any grant of options or other incentives theretofore granted under the Plan. 
  
 19. Severability. Whenever possible, each provision of the Plan shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of the Plan is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of the
Plan. 
  
 20. Governing Law. The Plan shall be governed by the corporate
laws of the State of Delaware, without giving effect to any choice of law provisions that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 
  

 16Prepared and Filed by E-Filer Solutions

Exhibit 4.3

PolyDoc Plc

26 Farringdon Street London EC4A 4AQ

  
  	(Registered in
        England No: 3217859)	
      19 August 1996

  		

  

 

B K Mence Esq Colne Priory Earls Colne
Colchester

Essex C06 2PG

Dear Mr Mence

Attached to this letter is
a copy of your existing Service Agreement with PolyDoc NV which is to become a
wholly owned subsidiary of this Company.

I am writing to confirm your
appointment as Executive Chairman of PolyDoc Plc ("the Company") with
effect from today's date. Such appointment shall, subject to any subsequent
agreement in writing between you and the Company, be terminated by not less than
six months notice in writing given by either of you or the Company to the other
and, in addition, shall terminate upon either PolyDoc NV ceasing to be a
subsidiary of the Company or upon your ceasing to be employed by PolyDoc NV. So
long as you remain Executive Chairman of the Company the following provisions
shall apply:

	1. 	The
      Company will procure that PolyDoc NV will comply with the terms of the
      attached Service Agreement as amended or varied by agreement.

      

      
	2. 	The
      Company will be entitled to enforce against you all the terms of the
      attached Service Agreement as varied or amended by agreement as though it
      had been party thereto together with PolyDoc NV.
	3. 	You will
      perform such duties and exercise such powers and discretions in relation
      to the Company and/or PolyDoc NV or their businesses as may from time to
      time reasonably be assigned to you or vested in you by the Board of
      Directors of the Company.

      

      
	4. 	Unless
      prevented by incapacity, illness or injury or with the prior agreement of
      the Board of Directors of the Company you will devote not less than four
      days a week to your duties and to the furtherance of the businesses and
      interests of the Company and PolyDoc NV.

      

      
	5. 	The
      Company shall reimburse you for all reasonable travelling, hotel,
      entertaining and other expenses which you may properly incur in the
      performance of your duties to the Company.

      

      

I also confirm that, although you will
not be entitled to any remuneration from the Company for the period to 31
December 1996 over and above that to which you are entitled under the Service
Agreement with PolyDoc NV, it is agreed that as from 1 January 1997 the Company
shall, during the continuance of your appointment as Executive Chairman, pay to
you as remuneration for your services (in addition to remuneration due to you
under your Service Agreement with PolyDoc NV) a salary at the rate of £42,000
per annum (or such higher rate as the Board of Directors of the Company may from
time to time decide) payable by equal monthly instalments in arrear. In addition
you will be entitled to such bonus as the Board of Directors of the Company may
from time to time decide. Also from 1 January 1997 the Company will pay into a
pension scheme nominated by you and acceptable to the Company (such acceptance
not to be unreasonably withheld) the amount, if any, by which 5% of your
aggregate basic salary per annum (being the monthly salary, less holiday
allowance, payable under the Service Agreement with PolyDoc NV and your basic
salary payable by the Company) exceeds the amount of the pension paid from time
to time by PolyDoc NV under the terms of the Service Agreement with PolyDoc NV.

Please could you sign and
return the attached copy of this letter to signify your consent

For and on behalf of POLYDOC PLC

On copy:

I hereby confirm my
agreement to the above terms.

Signed: /s/ B K Mence    

                   
B K Mence 

Dated: 19 August 1996

 

EMPLOYMENT AGREEMENT

 

THE UNDERSIGNED:

	(1)	
 PolyDoc N.V., a
company incorporated under the laws of The Netherlands, having its corporate
seat in (2132 JB) Hoofddorp, Neptunusstraat 20 and its business office at
Hoofddorp, The Netherlands, for these presents lawfully represented by B.K.
Mence, hereinafter referred to as "Employer"; and

    
	(2)	
 B.K. MENCE (the "Employee")
residing at Earls Colne, Essex, United Kingdom,

    
	
NOW IT IS HEREBY AGREED AS FOLLOWS: 

    
	 1 	 Term
of Employment

      

      
	1.1 	
 The Employee is
employed by the Employer with effect from the 1st August 1994 for an indefinite
period of time.

    
	1.2 	
 This Agreement may
be terminated at any time by either party giving 6 months notice in writing
expiring on the last day of a calendar month or such longer notice as may be
required under Dutch law.

    
	1.3 	
 This Agreement
shall in any event expire without prior notice at the end of the month in which
the Employee shall reach the age of 65.

    
	2 	
 Functions and Duties

    
	2.1 	
 The Employee is employed as
director of PolyDoc N.V.

    
	2.2 	
 The Employee
undertakes to work in and from the Employer's offices at Neptunusstraat 20, 2132
JB Hoofddorp or at other sites of business, including the employee's home
office.

    
	2.3 	
 The Employee will
have the powers and duties by law and as set forth in the Articles of
Association of the Employer and he will be subject to the supervision of the
Board of Supervisory Directors of the Employer, also with the powers and duties
by law and as set forth in the Articles of Association of the Employer. Except
for actions taken in the ordinary course of business, consistent with past
practice, the Employee shall obtain prior approval of the other directors of the
Employer for any of the following actions:

    
		(a) 	
 To appoint the auditors of the
Employer;

    
		(b) 	
 To acquire, alienate or encumber
real estate, capital assets or other assets;

    
		(c) 	
 To lend monies, to issue guarantees
and to grant credits;

    
		(d) 	
 To contract money
loans and credits in excess of a sum to be determined each year, not including
the use of any credits already contracted or approved;

    
		(e) 	
 To make investments the interest or
value of which is in excess of a sum to be determined each year;

    
		(f) 	
 To enter into
contracts with a life of more than one year, unless the value involved is less
than a sum to be determined each year by NLG 50,000, or, if the contracts have
been entered into for an indefinite period or for a term of less than one year,
if the value involved is in excess of a sum to be determined each year by NLG
50,000;

    
		(g) 	
 To determine bonuses and profit
sharing arrangements, and to grant pension rights;

    
		(h) 	
 To form reserves, whatever named;

    
		(i) 	
 To perform any
other transactions which have previously been clearly defined by the Articles of
Association.

    
	2.4 	
 The Employee
covenants that he shall at all times be willing to perform work for a company
affiliated with the Employer.

    
	3 	
 Working hours

    
	3.1 	
 Without prejudice to article 4.4 of
this Agreement, the Employer and the Employee shall from time to time agree on the time to be spent by the Employee
as director of the Employer.

    
	4  	
Compensation

      

    
	4.1 	
 The Employee shall
receive a gross yearly salary of NLG 78,000 payable in 12 monthly instalments on
the last day of each calendar month.

    
	4.2 	
 The Employee will
furthermore be entitled to an annual holiday allowance which will equal the
average gross monthly salary earned in the prior twelve months and will be
payable on the last day of the month of May of each year. If the employment is
terminated in the course of a calendar year the holiday allowance will be
calculated on a pro rata basis.

    
	4.3 	
 The Employer may,
on the basis of the performance of the Employee, the sales results and/or profit
before taxes of the Company in the financial year in question, grant the
Employee a bonus, payable at the end of the Employer's financial year. Whether
such a bonus is granted shall be determined exclusively by the Employer.

    
	4.4 	
 The Employee
convenants that he shall work overtime outside normal working hours whenever
appropriate performance of his duties so require. With respect to said overtime,
no remuneration shall be paid.

    
	4.5 	
 For the performance of work and
personal use, the Employer shall lease a car for use by the Employee, which
lease terms shall include provision for payment for insurance, maintenance and
petrol. The company car shall be of the type consistent for the Employee's
position as director of the Employer. In case of illness of longer than three
months, as well as in case of suspension of the Employee, the Employer has the
right to reclaim the company car with one week prior notice and without any
compensation being due. Upon the termination of this Agreement, the Employee
shall return the company car to the Employer, together with the keys, papers and
other accessoires.

    
		
The Employee is
familiar and will comply with the special conditions established by the Employer
in the "Berijdersovereenkomst".

    
	5 	
 Compensation of expenses

    
	5.1 	
 The Employer shall
pay to the Employee or reimburse the Employee for all expenses incurred by the
Employee in carrying out his duties upon submission to the Employer of written
evidence of such expenses to the reasonable satisfaction of the Employer.
Expenses can be declared with the Employer monthly but are subject to prior
approval by the Employer before payment.

    
	6 	
 Holidays

    
	6.1 	
 The Employee shall be entitled (in
addition to statutory public holidays) to annual holidays of 20 working days in
each full year of his employment plus 1 working day for each full year of
employment, and shall obtain the approval of the Employer before taking any
holidays. Holidays accrue according to the length of service in that year.

    
	6.2 	
 Unless the Employer
agrees otherwise, the Employee shall not be allowed to carry forward holidays
into the next year.

    
	7 	
 Disability

    
	7.1 	
 The Employee shall
give notice to the Employer of illness or disability to perform work before 8:30
a.m. on the first day of absence.

    
	7.2 	
 In the event of
incapacity of the Employee and provided that the Employee complies with the
instructions and guidelines of the Employer in this respect as well as the
regulations of the Sickness Allowance Act ("Ziektewet") and/or the
General Disablement Benefits Act ("Algemene Arbeidsongeschiktheidswet")
and/or the Disablement Insurance Act ("Wet op de Arbeidsongeschiktheid"),
the Employer shall continue to pay the salary plus fringed benefits in
accordance with the terms of this Agreement for a maximum period of 12 months
subject to deduction of any benefits to which the Employee is entitled under the
above mentioned social security acts and/or benefits under any other relevant
insurances taken out by the Employee.

    
	7.3	
 If the Employee is
prevented from performing his duties during two or more consecutive periods
which succeed each other within 31 days, those periods will be deemed to be one
uninterrupted period.

    
	8 	
 Group Accident Insurance

    
	8.1 	
 The Employer shall
take out group accident insurance for the benefit of the Employee. In the event
that the Employee is completely or partially handicapped the insurance payment
shall be paid to the Employee. In the event of death of the Employee the payment
shall be paid to the beneficiary of the Employee. The costs of insurance
premiums are paid by the Employer.

    
	9 	
 Medical benefits insurance

    
	9.1 	
 The Employee shall be included in
the group health insurance taken out by the Employer on the basis of class II B for the Employee
and his spouse and class III for his children. A copy of the policy conditions
is attached to this Agreement (Annex 1). The costs of insurance
premiums are paid by the Employer.

    
	10 	
 Pension

    
	10.1 	
 The Employer will
pay £ 3,600 a year as contribution to the premiums due by the Employee by
virtue of and as shown in the insurance policy, a copy of which is attached to
this Agreement (Annex 2).

    
	11 	
 Additional functions

    
	11.1 	
 The Employee is
allowed to accept or carry out time consuming paid or unpaid additional
functions and to participate in any outside activities .

    
	12 	
 Secrecy

    
	12.1 	
 The Employee shall
neither during the continuance of his employment nor thereafter, disclose to any
third party, or utilise for his own benefits any of the business or operational
data of the Employer or any affiliated company which have become known to the
Employee.

    
	12.2 	
 The term "business and
operational data" includes but is not limited to 

    
		-	
information marked
"confidential";

    
		-	
information with
respect to the business, methods, processes, techniques, products, developments,
mode of operation, software or research of the Employer in particular in
connection with the IDP-A project; 

    
		-	 information received by Employee in
confidence from the Employer or from third parties with respect to the IDP-A
project;
		-	
and other information
which is known to only a limited number of persons and which is not intended to
become known outside the company of the Employer.

    
	12.3 	
 All written and
other records and all tangibles concerning the Employer or any affiliated
companies which are in the possession of the Employee shall be carefully kept
and shall be immediately returned to the Employer upon its request and without
request upon termination of the employment for any cause whatsoever. The
Employee hereby waives any right of retention in
respect of records or tangibles mentioned herein.

    
	13 	
 Non-competition

    
	13.1 	
 The Employee shall
during the employment and for the period of one year after the termination of
the employment from any cause whatsoever, not work for, or assist, or advise a
competitor, nor establish or acquire a business, which is or could be in
competition with the Employer's business, or assist, advise, or participate in
the establishment or acquisition of such business, nor shall the Employee work
for or assist or advise any person, firm or company who shall at any time during
the continuance of Employee's employment have been directly or indirectly a
customer or customers of the Employer or its affilliated companies, which is or
could be in competition with the Employer's business.

    
	14 	
 Intellectual property rights

    
	14.1 	
 All intellectual
property rights, including but not limited to patent-, design- trademark- and
copyrights, in products, works and/or services developed by the Employee during
the term of this Agreement and/or with respect to his employment with the
Employer shall be the property of the Employer.

    
	14.2 	
 By this Agreement
the Employee assigns, in so far as necessary, to the Employer, which assignment
is accepted by the Employer, all intellectual property rights in the products,
works and/or services developed (partly or completely) during the term of this
Agreement and/or with respect to his employment. If this assignment proves to be
(partly or completely) invalid, the Employee hereby declares that in that case
and without attaching any condition thereto he shall assign said rights to the
Employer by means of a separate deed.

    
	14.3 	
 The Employee
waives his personality rights which may be derived from the provisions of
Section 25 of the Copyright Act with regard to the products, works and/or
services referred to in this Article.

    
	14.4 	
 Pursuant to the
provisions of this Article, the Employee is, during the term of this Agreement
and/or with respect to his employment as well as after his employment, not
allowed to exploit or to have exploited and/or to register or to have
registered, in any manner (all intellectual property rights in) the products,
works and/or services.

    
	14.5 	
 The Employer and
the Employee agree that the Employee's salary shall be regarded to include the
making-up for the (possible) lack of intellectual property rights.

    
	15 	
 Penalty clause

    
	15.1 	
 In the event of breach of any of
the provisions with respect to secrecy (article 12), non-competition (article 13) and
intellectual property rights (article 14) the Employee shall forfeit to the
benefit of the Employer without a prior notice or tradional intervention being
required, any immediate payable penalty of NLG 10,000 for any such breach, and a
penalty of NLG 1,000 for each day or part of a day that such breach of contract
shall continue, without the Employer being required to prove any damage or loss
and without prejudice to the rights of the Employer and of its subsidiaries or
affiliated companies to the meant additional damages if there should be grounds
for doing so.

    
	15.2 	
 Payment of the
penalty or penalties referred to under 15.1 shall not release the Employee from
his obligations specified in Articles 12, 13 and 14.

    
	16 	
 Miscellaneous

    
	16.1 	
 This Employment
Agreement will be construed under and governed solely by Netherlands law, even
where the Employee may be working outside the Netherlands.

    
	16.2 	
 Should the Tax
Inspector at any time decide that in respect of any, past or future, period wage
tax and/or social security benefits are due in respect to all or part of the benefits
described in the articles 4.5, 9 and 10 the
necessary amounts shall be withheld retroactively and shall be for the account
of the Employee.

    
	16.3 	
 The above reflects the entire
understanding between the parties and supersedes all prior agreements. Any
changes and additions to the contents of this Agreement shall be in writing.

    
	16.4 	
 This Agreement shall be binding
upon the successors and assigns of Employer.

    

In witness whereof this Agreement was
executed in twofold and signed by the parties in Hoofddorp on 19/8, 1996.

 

  
  	/s/ R.V. Maddocks	/s/ E.R.E.I. Wiebenga
	PolyDoc N.V.

        By: R.V. Maddocks	PolyDoc N.V.

        By: E.R.E.I. Wiebenga
	 

	
	/s/ B.K. Mence

	
	By: B.K. Mence

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"}]]