Document:

US Separation Agreement and Release

Exhibit 10.1

SEPARATION AGREEMENT AND RELEASE
This Agreement (the “Agreement”) is made by and between Günther Braun  (the “Executive”) and Rofin-Sinar Technologies Inc., a Delaware corporation (the “Company”) on the 4th day of June, 2015. 
Recitals:
A.    Executive currently serves as President and Chief Executive Officer of the Company and as a member of the Company’s Board of Directors. 
B.    The Company and its subsidiaries and affiliates are engaged globally in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications.
C.    The Company and Executive have mutually decided that Executive will cease to be employed by or have any other active service relationship with the Company and its affiliates. 
D.    The Executive has entered into a separate agreement (the “RSL Termination Agreement”) with ROFIN-SINAR Laser GmbH (“RSL”) and CBL Verwaltungsgesellschaft mbH relating to the cessation of Executives services with those companies and any other German “Affiliated Company” referenced therein (collectively, the “German Subsidiaries”). A copy of the RSL Termination Agreement is annexed as Exhibit 1 hereto.
NOW, THEREFORE, the parties agree as follows:
1.Scope of this Agreement. This Agreement applies to the cessation of Executive’s services with the Company and its direct and indirect subsidiaries other than the German Subsidiaries. Such direct or indirect subsidiaries (other than the German Subsidiaries) are referred to in this Agreement as the “Subsidiaries.” Executive acknowledges that this Agreement is supported by the consideration described in paragraph 2 below and by the additional consideration provided to Executive pursuant to the RSL Termination Agreement. In the event of a conflict between the provisions of this Agreement and the RSL Termination Agreement, such conflict will be resolved in a manner that is most favorable to the Company. 
2.Separation from Service. Effective July 1, 2015 (the “Separation Date”), Executive shall cease to be an officer, employee or director of, and to have any further service relationship in any capacity whatsoever with, the Company and its Subsidiaries, subject to the terms and conditions of this Agreement.  From and after the date hereof and through June 30, 2015, Executive shall work together with the named successor Chief Executive to facilitate a smooth and orderly transition process for Executive’s successor, and otherwise shall provide such services as the Board of Directors of the Company may request. The Company shall issue the press release substantially in the form attached hereto as Exhibit 2 following the execution of this Agreement. Executive acknowledges that, as an entity whose stock is publicly traded, the Company has certain disclosure obligations, both as to content and timing, with respect to the cessation of Executive’s employment and other service relationship with the Company, including the filing of a Form 8-K describing the terms of this Agreement. Nothing contained herein shall be deemed to preclude the Company from providing such disclosure as the Company, acting upon the advice of its counsel, deems to be necessary or appropriate.

3.Additional Compensation. Executive will receive the benefits described in paragraphs 3(a) and (b) below, subject to his continuing compliance with the restrictive covenants set forth in paragraph 4 and to the irrevocability of the Release set forth in paragraph 5. Executive acknowledges that he would not otherwise be entitled to certain of such benefits. Except as specified in this paragraph 3 or in the RSL Termination Agreement, Executive shall not be entitled to receive any further compensation, payments or benefits on account of the termination of his employment or other service with the Company and its subsidiaries. 
(a)Company Stock Options. Executive shall continue to earn vesting credit under his outstanding unvested Company stock options during the period beginning on the Separation Date and ending September 30, 2017. On September 30, 2017, any remaining unvested Company stock options held by Executive will become fully vested. The expiration date of Executive’s outstanding Company stock options  will be extended to September 30, 2018 or, if earlier, the stated expiration date set forth in the applicable stock option agreement. Except as modified by this paragraph 3, the terms and conditions of the Executive’s outstanding Company stock options will remain the same. 
(b)Company Car. As soon as practicable after the Separation Date, the Company will buy out (or cause RSL to buy out) the lease for the company car that Executive is currently using and will cause the ownership of that car to be transferred to Executive, free and clear of any liens and without any further Company liability or expense, and to reimburse Executive for the payment of income taxes associated with said transfer of ownership. 
4.Restrictive Covenants. Executive’s entitlement to receive and retain the benefits provided to him under Section 3 of this Agreement are expressly conditioned upon his continuing compliance with the restrictive covenants set forth below and, in addition, with the non-competition and other restrictions imposed upon him under applicable German law (collectively, the “Restrictive Covenants”). For the purposes of this paragraph 4, the term “Company” shall be deemed to refer to the Company and its Subsidiaries. 
(a)Non-Disclosure of Confidential Information.  The Executive shall not directly or indirectly disclose or use at any time any knowledge, information, or material relating to any of the Company’s businesses, customers, machines, designs, apparatus, systems, methods of conducting any part of its business or the like, “know-how” or trade secrets, which have become known to the Executive by reason of his employment or otherwise and which are not generally available to the public (collectively, the “Confidential Information”). Confidential Information shall not include any information generally known in the business or industry in which the Company competes (other than by reason of Executive’s having breached his obligations hereunder) or any information that Executive can demonstrably prove was independently developed by him without access to any Confidential Information. Executive shall not be prohibited from disclosing Confidential Information if and to the extent such disclosure is required by law, provided that the Executive shall notify the Company in writing of the potential disclosure and give the Company a reasonable opportunity to contest, limit the scope of or prevent such disclosure. These nondisclosure obligations shall remain in effect at all times after the Separation Date. 
(b)Assignment of Inventions.  
(i)The Executive has completely and accurately disclosed in writing to the Company all ideas, developments, inventions and improvements heretofore made, developed, perfected, devised, conceived or acquired by him either solely or jointly with others during the Executive’s employment with the Company, whether or not during regular working hours, relating in any way to the actual or anticipated business, research, developments or products of the Company, 

and the Executive shall promptly so disclose to the Company all such ideas, developments, inventions and improvements that may be made, developed, perfected, devised, conceived or acquired by the Executive within thirty days after the Separation Date. If so requested by the Company, the Executive shall give, grant, assign, transfer and convey to the Company or any entity designated by the Company, without recourse or representation, all rights, title and interest in and to any such ideas, developments, inventions and improvements. 
(ii)The Executive agrees, at the request and expense of the Company, to make, execute and deliver any and all papers, documents, and instruments, including applications for patents in any and all countries and reissues and extensions thereof, and to assist and cooperate (without expense to the Executive) with the Company or its representative in any controversy or legal proceedings relating to said ideas, developments, inventions and improvements, and the patents which may be procured thereon.  The Company does not assume any responsibility for the prosecution or defense of any application for patents in any countries arising from ideas, developments, inventions and improvements disclosed to the Company pursuant to this Agreement. The Executive’s obligations under this subparagraph 4(b)(ii) shall continue through September 30, 2017 and, to the extent necessary to protect the Company, for a reasonable period of time thereafter, provided that the Company shall compensate the Executive at a reasonable rate for time spent by him after September 30, 2017 providing such assistance at the Company’s request.  In the event that the Company is unable after reasonable effort to secure the Executive’s signature on any document(s) needed to apply for or prosecute any intellectual property rights relating to any such ideas, developments, inventions and improvements, the Executive hereby irrevocably designates the Company and its duly authorized representative as his agent to act on his behalf to execute and file any applications and to do all other lawfully permitted acts to further the issuance or prosecution of intellectual property rights with the same legal force and effect as if executed by the Executive.
(iii)The terms of this assignment of inventions provision shall not apply to an invention that the Executive developed entirely on his own time without using the Company’s equipment, supplies, facilities, or trade secret information except for those inventions during the term of Executive’s employment that either: (1) relate at the time of conception or reduction to practice of the invention to the Company’s business, or its actual or demonstrably anticipated research or development; or (2) result from any work performed by the Executive for the Company.  
(c)Non-Solicitation and Non-Interference.  The Executive shall not, at any time prior to October 1, 2017, directly or indirectly: (i) solicit, request, advise, entice, persuade or induce any employee, consultant, or independent contractor employed by or working on behalf of the Company at such time or at any time during the one-year period preceding such solicitation, request, advice, enticement, persuasion or inducement, to leave the Company, or to engage in any activity which, were it done by the Executive, would violate the terms of this Agreement, or hire or cause to be hired by any third party any such employee, consultant or independent contractor; or (ii) solicit, request, advise, entice, persuade or induce any individual or entity, including but not limited to any customer, supplier, vendor, investor, equity or financing source, or other contracting party of, or person having a business relationship with, the Company, to terminate, reduce or refrain from continuing or renewing their present or prospective contractual or business relationship with the Company. 
(d)Non-Competition.  Prior to October 1, 2017, the Executive shall not, directly or indirectly, without the prior written consent of the Company, engage in, become financially interested in, be employed by, render any consultation or business advice with respect to, or have any connection with, any business engaged in the research, development, testing, design, manufacture, sale, lease, marketing, utilization or exploitation of any laser- or photonics-based products or services which are 

designed for the same purpose as or are otherwise directly competitive with, any products, services or other business activities of the Company, in any geographic area where, during the period of his employment with the Company on or prior to the Separation Date,  the Company has or has documented current plans to have an active business presence. Notwithstanding the foregoing, Executive’s mere purchase or holding, for investment purposes, of securities representing less than 5% of the outstanding value or voting interest of a publicly traded company shall not be deemed to be a violation of the provisions of this subparagraph. 
(e)Reformation. Executive acknowledges that the businesses of the Company are conducted on a world-wide basis, that the Company’s sales and marketing prospects include continued expansion into world markets and that, therefore, the territorial and time limitations set forth in paragraph 4(d) above are reasonable and properly required for the adequate protection of the business and assets of the Company.  If a court concludes that any time period and/or the geographic area specified in said paragraph 4(d) is unenforceable, then the time period will be reduced by the number of months, or the geographic area will be reduced by the elimination of the overbroad portion, or both, as the case may be, so that the restrictions may be enforced in the geographic area and for the time to the fullest extent permitted by law.
(f)Enforcement.  It is intended that, in view of the nature of the Company’s business, the Restrictive Covenants contained in paragraphs 4(a) through 4(d) above are considered reasonable and necessary to protect the Company’s legitimate business interests and that any violation of these restrictions would result in irreparable injury to the Company.  In the event of a breach or threatened breach by Executive of any Restrictive Covenant contained herein, the Company shall be entitled to a temporary restraining order and injunctive relief.  Nothing contained herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach, including, without limitation, the restoration and other remedies specified in this Agreement and/or the recovery of money damages, attorneys’ fees, and costs. The Restrictive Covenants and each of them shall be construed as independent of any other provisions in this Agreement and the existence of any claim or cause of action by the Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of any such Restrictive Covenants.
(g)Severability The provisions of paragraph 12 hereof shall apply with respect to the interpretation of this paragraph 4 in order to ensure the enforceability of said provisions to the maximum extent permitted by law and to minimize the portion thereof that is treated as unenforceable.
(h)Future Employment.  If, during the period beginning on the Separation Date and ending September 30, 2017, Executive seeks or is offered employment, consultancy or other business relationship by or with any other company, firm, or person, Executive shall provide a copy of this paragraph 4 to such company, firm or person before accepting any such employment, consultancy or other business relationship.
(i)Compliance with Federal Securities Laws.    Executive agrees to maintain compliance with all applicable U.S. securities laws as they pertain to the Company, including, without limitation, any laws that prohibit him from trading in the Company’s common stock (including through options, hedges or other similar securities) while in possession of or privy to material non-public information.
(j)Recoupment.    For the avoidance of doubt, in addition to injunctive or other relief the Company may be entitled to receive, if Executive violates any of the Restrictive Covenants, any and 

all then outstanding Company options held by the Executive (whether or not vested) will thereupon be forfeited and, to the extent Executive exercised any Company stock options following the date hereof, the Company shall have the right to demand and recover from the Executive the shares of Company stock purchased upon such exercise (in exchange for payment of the exercise price) or, if such shares have been sold by the Executive, the gain realized by the Executive in respect of such sale net of income taxes that were paid by the Executive with respect to such exercise or sale and that cannot be recovered by the Executive.
5.Release.  
(a)In consideration of the premises, including the payments and benefits to be made or provided to the Executive under the provisions of this Agreement and the RSL Termination Agreement, Executive, for himself and for the executors and administrators of his estate, and his heirs, successors and assigns (collectively, the “Executive Releasors”), hereby releases and forever discharges the Company and its Subsidiaries, and its and their respective officers, directors and employees, and any stockholder controlled by any such officer, director or employee (collectively, the “Company Releasees”) from any and all claims, actions, causes of action, suits, sums of money, debts, dues, accounts, reckonings, bonds, bills, covenants, contracts, controversies, agreements, promises, demands or damages of any nature whatsoever or by reason of any matter, cause or thing regardless of whether known or unknown at present, which against any Company Releasee any such Executive Releasor ever had, now has or may have arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, or any other matters or things occurring or existing at any time prior to and including the date of this Release (collectively defined herein as “Claims”).  This Release includes, but is not limited to, any and all Claims the Executive might have under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§2000e, et. seq.; 42 U.S.C. §§1981, et. seq.; the Americans with Disabilities Act, 29 U.S.C. §§2000e, et. seq.; the Age Discrimination in Employment Act; the Older Workers Benefits Protection Act; the federal Family and Medical Leave Act; similar state, local laws or foreign laws and regulations, and any and all statutory and common law causes of action for defamation; slander; slander per se; defamation per se; false light; tortious interference with prospective business relationships; assault; sexual assault; battery; sexual harassment; sexual discrimination; hostile work environment; discrimination; retaliation; workers’ compensation retaliation; wrongful termination; intentional infliction of emotional distress; breach of a duty or obligation of any kind or description, including any implied covenant of good faith and fair dealing; and for breach of contract or any tort whatsoever, as well as any expenses or attorney’s fees associated with such Claims. 
(b)The Executive represents that there are no facts upon which a claim could be based against him by the Company, and he is unaware of any facts upon which a non-frivolous claim could be based by a third party against the Company.  Based upon this representation, the Company releases Executive from any and all claims, actions, causes of action, suits, sums of money, debts, dues, accounts, reckonings, bonds, bills, covenants, contracts, controversies, agreements, promises, demands or damages of any nature whatsoever or by reason of any matter, cause or thing regardless of whether known or unknown at present, against the Executive which the Company, ever had, now has or may have arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, or any other matters or things occurring or existing at any time prior to and including the date of this Release.
(c)The parties acknowledge that this release (the “Release”) does not either affect the rights and responsibilities of the Equal Employment Opportunity Commission to enforce the Age Discrimination in Employment Act, or justify interfering with the protected right of an employee to 

file a charge or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission under the Age Discrimination in Employment Act.  In the event the Equal Employment Opportunity Commission commences a proceeding against the Company in which Executive is a named party, the Executive agrees to waive and forego any monetary claims which may be alleged by the Equal Employment Opportunity Commission to be owed to Executive. 
(d)Notwithstanding the foregoing, nothing in the provisions of this Release shall act as a release by an Executive Releasor of any Claims against the Company or its Subsidiaries with respect to (i) any right or entitlement of such person under this Agreement or the RSL Termination Agreement, any right to indemnity or insurance, or any vested and accrued rights under and in accordance with the provisions of any employee benefit plan of the Company or any of its Subsidiaries in which the Executive participates (subject in all instances to the provisions of this Agreement), or (ii) any Claims arising with respect to acts, events or occurrences taking place after the date this Release becomes effective. 
(e)By executing this Agreement, Executive acknowledges that (i) he has been provided an opportunity to consult with an attorney or other advisor of his choice regarding the terms of this Release, (ii) Executive has been given twenty-one (21) days in which to consider whether the Executive wishes to enter into this Release, (iii) Executive has elected to enter into this Release knowingly and voluntarily, (iv) Executive’s waiver of rights and Claims is in exchange for the good and valuable consideration herein, (v) if Executive enters into this Release within fewer than twenty-one (21) days from receipt of this Release, Executive has knowingly and voluntarily waived the remaining time, and (vi) Executive may revoke this Release during the seven-day period following the date of his execution of this Agreement and Release (the “Revocation Period”) by delivering a written notice of revocation to the Secretary of the Company, at the Company’s main address in the United States, with a copy to Sheldon Nussbaum at Norton Rose Fulbright US LLP, 666 Fifth Avenue, New York, NY 10103 (it being agreed that delivery of such revocation to both the Secretary of the Company and Mr. Nussbaum is necessary for the revocation to be effective); and provided that, in all instances, such notice is received by the Company and Mr. Nussbaum prior to the end of the Revocation Period.
6.Non-Disparagement.  Executive shall not make, publish or cause to be made any statement, observation or opinion, or communicate any information (whether oral or written, directly or indirectly) to any third party that either directly or through other persons or entities, disparages, impugns or in any way reflects negatively upon (i) the conduct, operations, financial condition, plans, products, services, business practices, policies or procedures of the Company or any of its subsidiaries, or (ii) any of the present or former management, officers, directors, or shareholders of the Company or any of its subsidiaries in any manner whether or not relating to any of its or their businesses. The Company and its officers and directors shall not make, publish or cause to be made any statement, observation or opinion, or communicate any information (whether oral or written, directly or indirectly) to any third party that disparages, impugns or in any way reflects negatively upon the Executive in any manner whether or not relating to the Executive’s relationship with the Company. 
7.Cooperation. Through September 30, 2017, the Executive will reasonably cooperate with the Company concerning reasonable requests for information about matters relating to the business of the Company and its subsidiaries in which he was involved during the period of his employment, it being understood that such requests by the Company, if any, are not expected to be significant in time and scope and shall in any event be subject to the Executive’s personal and professional obligations and commitments.  The Executive will, at all times following the date hereof, cooperate with the Company and its counsel in connection with any investigation or review by the Company or any of its subsidiaries or any federal, state 

or local regulatory, quasi-regulatory or self-governing authority (including, without limitation, the Securities and Exchange Commission) to the extent any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company or any of its subsidiaries.  The Executive shall be entitled to reimbursement, upon receipt by the Company of suitable documentation, for reasonable and necessary travel and other expenses he may incur at the specific request of the Company and as approved by the Company in advance and in accordance with its policies and procedures established from time to time.  Executive shall execute and deliver such further documents as the Company may reasonably request in order to evidence or acknowledge the termination of his services and positions as set herein. 
8.Company Property.  On or prior to the Separation Date, Executive shall return to the Company all property of the Company and its Subsidiaries in his possession, including, without limitation, all originals and copies (in whatever format) of all proprietary information belonging to the Company and/or any of its Subsidiaries or affiliates, credit cards, calling cards, keys, key fobs, identification badges, files, records, product samples, marketing materials, computer disks, laptop computers, tablets, pagers, building-access cards and keys, other electronic equipment, and any records, documents, software, e-mails or other data from or of the Company or any of its Subsidiaries, or on personal computers or laptops, however and wherever stored, relating to the Company’s (or any of its Subsidiaries’) business or confidential information; it being understood, however, that Executive may retain his cell phone and cell phone number pursuant to the RSL Termination Agreement. 
9.Indemnification; Liability Insurance.  For six years following the Separation Date, (a) Executive will continue to be indemnified under the Company’s Certificate of Incorporation and Bylaws at least to the same extent as prior to the Separation Date, and (b) Executive will be covered by the Company’s directors’ and officers’ liability insurance policies that are the same as, or provide coverage at least as favorable as, the policies and/or coverage in effect from time to time for active senior executives of the Company generally. The Company’s obligations under this paragraph shall only apply with respect to third-party claims and shall not apply with respect to any claims that are directly or indirectly initiated by or on behalf of Executive against the Company or any of its Subsidiaries and vice versa.  Executive shall promptly notify the Company of any claims made against the Executive in the Executive’s capacity as a former employee, officer, director or other service provider of the Company or any of its Subsidiaries.
10.Notices.  Any notice to be given hereunder shall be in writing and shall be deemed given when delivered personally, or two business days after being mailed by certified mail, return receipt requested, addressed as follows:
	
		
	To Executive at:

	Günther Braun

	To the Company at:
	Rofin-Sinar Technologies Inc.
40984 Concept Drive
Plymouth, MI 48170
Attn: Secretary of the Company 

	With a copy to:
	Sheldon G. Nussbaum, Esq.
Norton Rose Fulbright US LLP
666 Fifth Avenue
New York, NY 10103

11.Tax Withholding.  All payments, benefits and other amounts made or provided pursuant to this Agreement will be subject to applicable income, employment and other tax withholding requirements. 

12.Severability.  Should a court determine that any paragraph, provision or sentence, or any portion of a provision, paragraph or sentence contained in this Agreement (including, without limitation, any provision, paragraph or sentence contained in paragraph 4 hereof) is invalid, unenforceable, or void, such determination shall not affect or impede the validity or enforceability of the remainder of the provision, paragraph, sentence or portion of a provision, paragraph or sentence. Further, if a court should determine that any portion of this Agreement is overbroad or unreasonable, such provision shall be given effect to the maximum extent possible by narrowing or enforcing in part that aspect of the provision found to be overbroad or unreasonable. Each party will pay its or his attorney’s fees and costs in connection with litigation involving this Agreement, provided that the court will have authority, in its discretion, to award attorney’s fees and costs to the prevailing party in any litigation (which, for this purpose, shall be the party that receives an award that most closely resembles the relief sought).
13.Recoupment upon Restatement of Financial Statements.  If the Company is required to restate all or a portion of its financial statement(s) for any period during which the Executive was employed by the Company then, to the extent required by applicable law, the Company, acting in its discretion, may require the Executive to reimburse or pay to the Company the amount of any incentive compensation paid to him, cause the cancellation of outstanding equity compensation awards, and seek reimbursement of any gains otherwise realized by him in respect of the exercise or settlement of any such awards if and to the extent that (a) the amount of such incentive compensation was or will be based upon the achievement of certain financial results that were subsequently reduced due to such restatement, and (b) the amount of the incentive compensation that was, would have been or would be paid or provided to Executive if the financial results had been properly reported would have been lower than the amount actually paid or provided. 
14.Certain Tax Matters.  Except as specified in paragraph 3(b) above, the Executive will be solely responsible for his own tax liabilities, including without limitation, income, employment, social security, or other taxes, penalties or interest that may be incurred by him with respect to the payments and benefits he receives or is entitled to receive pursuant to this Agreement.
15.Successors.  This Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns. 
16.Choice of Law.  This Agreement shall be construed and enforced in accordance with the laws of the State of Delaware without regard to the principles of conflicts of law. 
17.Entire Agreement. This Agreement and the RSL Termination Agreement constitute the complete understanding between the Company and its subsidiaries and the Executive regarding the subject matter thereof and, except as otherwise specifically provided herein, supersede any and all prior or contemporaneous, employment or other agreements, understandings, and discussions, whether written or oral. 
18.Amendment or Waiver.  No provision of this Agreement may be modified, amended, waived or terminated except by an instrument in writing signed by the parties hereto.  No course of dealing between the parties will modify, amend, waive or terminate any provision of this Agreement or any rights or obligations of any party under or by reason of this Agreement.  No delay on the part of the Company in exercising any right hereunder shall operate as a waiver of such right.  No waiver, express or implied, by a party of any right or any breach by the other party shall constitute a waiver of any other right of such party or breach by such other party. 
19.Headings.  The headings used herein are for the convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the provisions of this Agreement. 

20.Counterparts.  This Agreement may be executed in one or more counterparts, including emailed or telecopied facsimiles, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
[Signature Page Follows]
IN WITNESS WHEREOF, the parties have executed this Agreement on the date first written above.
ROFIN-SINAR TECHNOLOGIES INC.

By:___/s/ Peter Wirth    
Peter Wirth

   /s/ Günther Braun        
Günther BraunGerman Separation Agreement

Exhibit 10.2
	
			
	AUFHEBUNGSVERTRAG
	 
	TERMINATION AGREEMENT

	ZWISCHEN
	 
	BETWEEN

	(1)      ROFIN-SINAR Laser GmbH, Berzeliusstraße 87, 22113 Hamburg  ("ROFIN-SINAR Laser GmbH")
	 
	(1)   ROFIN-SINAR Laser GmbH,  Berzeliusstraße 87, 22113 Hamburg  ("ROFIN-SINAR Laser GmbH ") 

	und
	 
	and

	(2) CBL Verwaltungsgesellschaft mbH, Petersbrunnerstr. 1 b, 82319 Starnberg ("CBL Verwaltungsgesellschaft mbH")
	 
	(2) CBL Verwaltungsgesellschaft mbH, Petersbrunnerstr. 1 b, 82319 Starnberg ("CBL Verwaltungsgesellschaft mbH")

	    - nachfolgend gemeinsam „Gesellschaft" oder „Gesellschaften" genannt -
	 
	 - hereinafter jointly referred to „Company" or „Companies" -

	und
	 
	and

	(3)     Günther Braun 
("Geschäftsführer")
	 
	(3) Günther Braun
  ("Managing Director")

	PRAAMBEL
	 
	PREAMBLE

	Der Geschäftsführer ist bei der ROFIN-SINAR Laser GmbH als Geschäftsführer angestellt und als Geschäftsführer der ROFIN-SINAR Laser GmbH und der CBL Verwaltungsgesellschaft mbH  im Handelsregister eingetragen.  
	 
	The Managing Director is deployed by ROFIN-SINAR Laser GmbH as managing director and registered in the commercial register as managing director of ROFIN-SINAR Laser GmbH and of CBL Verwaltungsgesellschaft mbH. 

	1.        VERTRAGSBEENDIGUNG
	 
	1.   TERMINATION OF THE EMPLOYMENT AGREEMENT

	1.1   Die Parteien sind sich darüber einig, dass das zwischen den Gesellschaften einerseits und dem Geschäftsführer andererseits bestehende Anstellungsverhältnis im gegenseitigen Einvernehmen auf Veranlassung der Gesellschaft mit Wirkung zum Ablauf des 30.09.2017 enden wird  und der Geschäftsführer das Anstellungsverhältnis mit einer Ankündigungsfrist von drei Monaten zum Monatsende schriftlich vorzeitig beenden kann (der Beendigungstermin wird nachfolgend „Beendigungszeitpunkt“ genannt.)

	 
	1.1  The Parties mutually agree that the service relationship existing between the Companies on the one hand and the Managing Director on the other hand will end by mutual consent on the Company’s initiative on 30 September 2017 and the Managing Director is allowed to early terminate the service agreement by giving three months written notice to the end of a month (the actual termination date is hereinafter referred to as "Termination Date").                                                                             

	1.2  Jedes etwaige sonstige Arbeits- oder Dienstverhältnis mit den Gesellschaften oder mit einem im Sinne von § 15 AktG mit der Gesellschaft verbundenen Unternehmen soweit diese in Deutschland ihren Sitz haben („Verbundenes Unternehmen“), endet mit sofortiger Wirkung.
	 
	1.2       Any other employment or service relationship with the Companies or an affiliated company in the meaning of sec. 15 German Stock Corporation Act as far as they have their seat in Germany ("Affiliated Company"), shall end with immediate effect. 

	2.     AMTSNIEDERLEGUNG
	 
	2.       RESIGNATION FROM OFFICE

	2.1   Der Geschäftsführer legt hiermit sein Geschäftsführeramt bei den Gesellschaften mit Wirkung zum 01.07.2015 nieder. Der Geschäftsführer hat entsprechende Niederlegungserklärungen separat ausgefertigt. Diese Niederlegungserklärungen sind diesem Vertrag als Anlage 1 beigefügt und wesentlicher Bestandteil dieses Vertrages.
	 
	2.1     The Managing Director resigns from his office as Managing Director of the Companies with effect as of 1 July 2015. The Managing Director signed separate resignation notices. The resignation notices are attached to this Agreement as Annex 1 and is a major part of this Agreement.

	2.2     Der Geschäftsführer wird darüber hinaus etwaige Ämter als Direktor oder Mitglied der Geschäftsleitung von Verbundenen Unternehmen mit Wirkung zum 30.06.2015 niederlegen. Der Geschäftsführer verpflichtet sich, gegenüber den Gesellschaften und den Verbundenen Unternehmen sowie Dritten alle erforderlichen oder nützlichen und/oder angemessenerweise von den Gesellschaften geforderten Erklärungen zur Niederlegung seiner Ämter abzugeben und an allen hierzu erforderlichen oder nützlichen und/oder angemessenerweise von den Gesellschaften geforderten  Rechtshandlungen mitzuwirken. 
	 
	2.2     In addition, the Managing Director shall resign from his appointments/offices, if any, as director or member of the management board of Affiliated Companies with effect as of 30 June 2015. The Managing Director is obligated to provide the Companies and the Affiliated Companies as well as any third party with all statements to resign from his appointments/offices which are required or useful and/or reasonably requested by the Companies and to cooperate with regard to any required or useful legal act and/or reasonable request of the Companies in this regard.

	3.       FREISTELLUNG
	 
	3.       RELEASE

	
			
	Der Geschäftsführer wird mit Wirkung vom 01.07.2015 bis zum Beendigungszeitpunkt von seiner Dienstpflicht freigestellt. Die Freistellung erfolgt vom 01.07.2015 bis zum 31.12.2015 widerruflich, wobei der Geschäftsführer nicht verpflichtet ist, ins Büro zurückzukehren, sondern nur für Anfragen per Email oder Telefon zur Verfügung steht. Im Übrigen erfolgt die Freistellung unwiderruflich. Der gesamte etwaige Resturlaub aus Vorjahren sowie der Jahresurlaub aus dem laufenden Kalenderjahr werden zu Beginn der Freistellung bis zum 12.08.2015 gewährt und sind mit der Freistellung abgegolten. Der Urlaubsanspruch von jeweils 30 Tagen für die Jahre 2016 und 2017 wird vom 04.01.2016 bis zum 15.02.2016 und vom 02.01.2017 bis zum 13.02.2017 gewährt. Etwaiger während der Freistellung nicht verbrauchter Urlaub wird nicht in Geld abgegolten. Anderweitiges Einkommen aus Anstellungs- und/oder Arbeitsverhältnissen wird entsprechend § 615 S. 2 BGB außerhalb des Urlaubszeitraums angerechnet. Während der Freistellung bleibt das vertragliche Wettbewerbsverbot aufrechterhalten.
	 
	The Managing Director shall be released from his duties to the Companies with effect as of 1 July 2015 until the Termination Date. From the 1 July 2015 until 31 December 2015 the release is revocably whereas the Managing Director is not obliged to return to the office but will only answer any questions via email or phone. For the rest, the release shall be irrevocably. Open holiday entitlements of past years and the current year are granted at the beginning of the release until 12 August 2015. The holiday entitlement for 2016 and 2017 amounting to 30 days each shall be granted from 4 January 2016 to 15 February 2016 and from 2 January 2017 to 13 February 2017. Open holiday entitlements, not covered by the release, will not be settled by a compensation payment. Other income resulting from service and/or employment relationships, except those other income during the holiday, shall be credited against the continued remuneration in accordance with sec. 615 sentence 2 German Civil Code. During the release period, the contractual non-compete will continue to apply. 

	4.     VERGÜTUNG
	 
	4.      REMUNERATION

	4.1         Die ROFIN-SINAR Laser GmbH wird das jährliche Bruttofestgehalt in Höhe von € 381.924,00 brutto bis zum Beendigungszeitpunkt ordnungsgemäß abrechnen und den sich daraus ergebenden Nettobetrag an den Geschäftsführer auszahlen. Das Gehalt ist zahlbar in 12 gleichen monatlichen Raten. Die ROFIN-SINAR Laser GmbH wird die Sozialversicherungsbeiträge bis zum Beendigungszeitpunkt abführen.
	 
	4.1     ROFIN-SINAR Laser GmbH shall duly settle the fixed annual gross salary amounting to € 381,924.00, up to the Termination Date and shall pay the resulting net amount to the Managing Director. The salary is payable in twelve equal monthly installments. ROFIN-SINAR Laser GmbH will pay the social security contributions until the Termination Date.

	4.2   Die ROFIN-SINAR Laser GmbH wird an den Geschäftsführer für die Jahre 2015, 2016 und 2017 eine Brutto-Tantieme in Höhe von jeweils 25% des unter Ziffer 4.1 genannten Betrages, fällig im Januar des Folgejahres zahlen.
	 
	4.2   ROFIN-SINAR Laser GmbH shall pay to the Managing Director for the years 2015, 2016 and 2017 a gross bonus in the amount of 25% of the amount mentioned under section 4.1, due in January of the subsequent year.  

	4.3      Im Falle des Todes des Geschäftsführers sowie der Krankheit gelten die Bedingungen des Anstellungsvertrages bis zum Beendigungszeitpunkt fort.
	 
	4.3     In case of the Managing Director’s death and sickness the provisions of the service agreement continue to apply until the Termination Date. 

	4.4        Weitere Vergütungsansprüche des Geschäftsführers gegen die Gesellschaften und Verbundene Unternehmen bestehen nicht.
	 
	4.4      Except as specified in this Agreement, there are no further remuneration claims of the Managing Director against the Companies and the Affiliated Companies.

	5.    AUFWENDUNGSERSATZ
	 
	5.       EXPENSES

	Die Gesellschaft wird die noch offenen Spesen nach Vorlage einer entsprechenden Abrechnung gemäß der jeweils gültigen Spesen-Richtlinie an den Geschäftsführer ausgleichen.
	 
	The Companies shall settle open expenses after the submission of a respective statement by the Managing Director, subject to applicable expense reimbursement policies.

	6.  BETRIEBLICHE ALTERSVERSORGUNG
	 
	6.     COMPANY'S PENSION

	Die Parteien sind sich darüber einig, dass der Geschäftsführer für die Zwecke der betrieblichen Altersversorgung so gestellt wird, als würde das Anstellungsverhältnis im Januar 2018 enden, wenn dieses mit Wirkung zum 30.09.2017 endet. Anderenfalls, im Falle einer vorzeitigen Beendigung, gilt der tatsächliche Beendigungszeitpunkt auch für die Zwecke der betrieblichen Altersversorgung. 
	 
	For the purpose of the company’s pension scheme the Parties mutually agree that the Managing Director will be treated as if the service agreement would terminate in January 2018 to the extend the service agreements terminates as of 30 September 2017. Otherwise, in case of an earlier termination, the actual termination date applies for the purpose of the companies’ pension scheme.    

	7.  DIENSTWAGEN
	 
	7.      COMPANY CAR

	
			
	Wie im Aufhebungsvertrag mit der amerikanischen Muttergesellschaft des Konzerns vereinbart, wird die Konzern-Muttergesellschaft der Gesellschaften den Dienstwagen des Geschäftsführers käuflich erwerben oder die ROFIN-SINAR Laser GmbH veranlassen, dies zu tun. Der Dienstwagen wird zu Beginn der Freistellung an den Geschäftsführer übereignet. Etwaige aufgrund der Übereignung anfallende Einkommenssteuern trägt die Gesellschaft. Die Parteien sind sich darüber einig, dass kein Anspruch auf einen Dienstwagen mehr besteht, sobald das Kfz an den Geschäftsführer übereignet wurde. 
	 
	As agreed in the separation agreement with the US parent company of the group, the parent company of the Companies will buy out the Managing Director’s company car or shall cause ROFIN-SINAR Laser GmbH to buy out the company car. The ownership to the company car will be assigned to the Managing Director at the beginning of the garden leave. Any income taxes incurring due to the assignment of the ownership shall be borne by the Company. The Parties mutually agree that there is no right to receive a company car anymore, as soon the ownership to the car is assigned to the Managing Director.   

	8.   ZEUGNIS
	 
	8.      LETTER OF REFERENCE

	Der Geschäftsführer erhält ein wohlwollendes qualifiziertes Arbeitszeugnis. Auf Wunsch wird dem Geschäftsführer dieses Zeugnis von der ROFIN-SINAR Laser GmbH kurzfristig auch als Zwischenzeugnis zur Verfügung gestellt.
	 
	The Managing Director is entitled to a benevolent qualified letter of reference. ROFIN-SINAR Laser GmbH is obliged to certificate an interim report on the Managing Director’s request.  

	9.    NACHVERTRAGLICHES WETTBEWERBSVERBOT
	 
	9.       POST-CONTRACTUAL NON-COMPETITION

	Die ROFIN-SINAR Laser GmbH und der Geschäftsführer ersetzen das vereinbarte nachvertragliche Wettbewerbsverbot durch folgende Regelung:  
	 
	ROFIN-SINAR Laser GmbH and the Managing Director replace the agreed post-contractual non-competition covenant by the following provisions: 

	9.1     Unter der Bedingung, dass das Anstellungsverhältnis vor dem 30.09.2017 endet, ist es dem Geschäftsführer untersagt, für die Dauer von 24 Monaten nach dem Beendigungszeitpunkt, längstens jedoch bis zum 30.09.2017, in selbständiger, unselbständiger oder sonstiger Weise - direkt oder indirekt - für ein Unternehmen tätig zu werden, das zu den Gesellschaften in direktem oder indirektem Wettbewerb steht oder mit einem Wettbewerbsunternehmen verbunden ist. In gleicher Weise ist es dem Geschäftsführer untersagt, während der Dauer dieses Verbots ein solches Unternehmen zu errichten, zu erwerben oder sich hieran unmittelbar oder mittelbar mit mehr als 5% der Anteile zu beteiligen. Das Verbot gilt auch zugunsten der Verbundenen Unternehmen.
	 
	9.1       Subject to the condition that the service agreement terminates before 30 September 2017, for a period of 24 months following the Termination Date, however until 30 September 2017 at the latest, the Managing Director shall not engage, be it directly or indirectly, in any activity as a freelancer, employee or otherwise for any company competing directly or indirectly with the Companies or for any company affiliated with a competitor. The Managing Director shall equally not be allowed to form or purchase such company or acquire any direct or indirect participation of more than 5% in any such company during the period of this covenant. This covenant shall also apply in favor of the Affiliated Companies. 

	9.2    Des Weiteren verpflichtet sich der Geschäftsführer, für einen Zeitraum von 24 Monaten nach dem Beendigungszeitpunkt, längstens jedoch bis zum 30.09.2017 keine Mitarbeiter - ob selbstständig oder unselbstständig - der ROFIN-SINAR Laser GmbH oder einem Verbundenen Unternehmen mittelbar oder unmittelbar abzuwerben oder mit Abwerbeabsicht anzusprechen. Dies gilt auch für Mitarbeiter, die innerhalb von 30 Monaten vor dem Beendigungszeitpunkt bei der  ROFIN-SINAR Laser GmbH oder einem Verbundenen Unternehmen ausgeschieden sind.
	 
	9.2     Furthermore, the Managing Director undertakes for a period of 24 months following the Termination Date, however until 30 September 2017 at the latest not to entice away or endeavor to entice away - be it directly or indirectly - any individual employed or otherwise engaged in ROFIN-SINAR Laser GmbH or any Affiliated Company. This also applies to individuals who left ROFIN-SINAR Laser GmbH or an Affiliated Company within 30 months prior to the Termination Date.

	9.3       Während der Dauer des Wettbewerbsverbotes erhält der Geschäftsführer eine Entschädigung, die für jedes Jahr des Verbots die Hälfte der vom Geschäftsführer zuletzt bezogenen vertragsmäßigen Leistungen beträgt. Anderweitigen Erwerb muss sich der Geschäftsführer gem. § 74c HGB auf die Entschädigung anrechnen lassen. Insoweit hat der Geschäftsführer der ROFIN-SINAR Laser GmbH jeweils zum Ende eines Quartals schriftlich mitzuteilen und auf Verlangen nachzuweisen, ob und in welcher Höhe er anderweitige Einkünfte bezieht. 
	 
	9.3     During the term of the non-competition covenant, the Managing Director shall receive a compensation, which amounts for each year of the covenant to 50% of the contractual payments last received by the Managing Director. Other income of the Managing Director shall be set off against the compensation according to sec. 74c HGB (German Commercial Code). The Managing Director shall inform in writing and, upon request, prove to ROFIN-SINAR Laser GmbH at the end of each quarter whether and to which amount he receives other income.

	
			
	9.4     Für jede Handlung, durch die der  Geschäftsführer das Verbot schuldhaft verletzt, hat er eine Vertragsstrafe in Höhe des letzten Bruttomonatsgehalts zu zahlen. Besteht die Verletzungshandlung in der kapitalmäßigen Beteiligung von mehr als 5% an einem Wettbewerbsunternehmen oder der Eingehung eines Dauerschuldverhältnisses (z. B. Arbeits-, Dienst-, Handelsvertreter- oder Beraterverhältnis), wird die Vertragsstrafe für jeden angefangenen Monat, in dem die kapitalmäßige Beteiligung oder das Dauerschuldverhältnis besteht, neu verwirkt (Dauerverletzung). Mehrere Verletzungshandlungen lösen jeweils gesonderte Vertragsstrafen aus, gegebenenfalls auch mehrfach innerhalb eines Monats. Erfolgen dagegen einzelne Verletzungshandlungen im Rahmen einer Dauerverletzung, sind sie von der für die Dauerverletzung verwirkten Vertragsstrafe mit umfasst. Bei Verwirkung mehrerer Vertragsstrafen ist der Gesamtbetrag der zu zahlenden Vertragsstrafen auf das Dreifache des letzten Bruttomonatsgehalts begrenzt. Die Geltendmachung eines weitergehenden Schadens und/oder eines Unterlassungsanspruchs ist nicht ausgeschlossen.
	 
	9.4       For every culpable infringement of the prohibition of competition the Managing Director shall be obliged to pay a contractual penalty amounting to the Managing Director’s last monthly gross salary. If the act of breach is committed by acquiring an equity interest of more than 5% in a competing company or by entering into a contract for the performance of a continuing obligation (e.g. employment, service, commercial agent or consultancy contract), the contractual penalty shall be newly incurred for each commenced month in which the equity interest or the contract for the performance of a continuing obligation exists (permanent breach). Several acts of breach shall each give rise to separate contractual penalties, also repeatedly within one month, as the case may be. If, on the other hand, individual acts of breach are committed within the scope of a permanent breach, they shall be covered by the contractual penalty incurred due to the permanent breach. The contractual penalty shall amount to a maximum of three times the last monthly gross salary in case of the incurrence of several contractual penalties. The right of assertion of damages exceeding the contractual penalty incurred and/or the right to file for injunctive relief shall be reserved.

	9.5  Soweit vorstehende Regelungen nichts anders bestimmen, gelten die Regelungen der §§ 74 ff. HGB entsprechend; dies gilt insbesondere für die geltungserhaltende Reduktion nach § 74a HGB.  
	 
	9.5     Unless stated otherwise above, sections 74 et seq. HGB (German Commercial Code) shall apply accordingly; this particularly applies to the preservative reduction (geltungserhaltende Reduktion) according to section 74a HGB.  

	9.6   Die Gesellschaften einerseits und der Geschäftsführer andererseits sind sich zur Klarstellung darüber einig, dass das nachvertragliche Wettbewerbsverbot hiermit einvernehmlich aufgehoben wird und insbesondere kein Anspruch auf Karenzentschädigung, wenn das Anstellungsverhältnis zum 30.09.2017 endet.
	 
	9.6     For the avoidance of doubt, the Companies on the one hand and the Managing Director on the other hand mutually agree that the post-contractual non-competition covenant is hereby mutually waived and that no entitlement to any compensation payment exists if the service agreement terminates as of 30 September 2017.

	10.    GEHEIMHALTUNG
	 
	10.  CONFIDENTIALITY

	Der Geschäftsführer verpflichtet sich, auch nach Beendigung des Dienstverhältnisses über alle betrieblichen und geschäftlichen Angelegenheiten der Gesellschaften und der Verbundenen Unternehmen insbesondere Betriebs- und Geschäftsgeheimnisse, Stillschweigen zu bewahren.
	 
	The Managing Director undertakes to keep confidential any operational and business matters of the Companies and the Affiliated Companies, in particular any trade and business secrets, even after the termination of the service relationship. 

	11.   HERAUSGABE VON GEGENSTÄNDEN
	 
	11.     RETURN OF DOCUMENTS/ITEMS

	11.1  Am 30.06.2015 wird der Geschäftsführer alle geschäftlichen Unterlagen nebst Kopien, Dateien (einschließlich Hard- und Softcopies) sowie alle Gegenstände, die ihm aus Anlass des Dienstverhältnisses überlassen wurden und die im Eigentum der Gesellschaften oder eines Verbundenen Unternehmens stehen, an die Gesellschaften zurückgeben. Dies gilt insbesondere für das Laptop.
	 
	11.1    On 30 June 2015 the Managing Director shall return to the Company all business-related documents and copies thereof, data files (including hard copies and soft copies thereof) and all items made available to him in the context of the service relationship which is the property of the Companies or any of the Affiliated Companies. This applies in particular to the laptop. 

	11.2  Die Parteien sind sich darüber einig, dass der Geschäftsführer das Mobiltelefon nicht zurückgeben muss. Dieses darf der Geschäftsführer behalten. Ferner wird mit Wirkung zum 01.07.2015 die Rufnummer 0049 (0) 172 4320455 auf den Geschäftsführer übertragen. Die Gesellschaften werden alle erforderlichen Erklärungen für die Übertragung der Rufnummer abgeben. Ab dem 01.07.2015 werden die Gesellschaften die monatlichen Kosten und Zugangsgebühren für das Mobiltelefon, das dem Geschäftsführer zur Verfügung gestellt wurde, nicht länger tragen.  
	 
	11.2  The Parties mutually agree that the Managing Director does not have to return the mobile phone. He is allowed to keep the mobile phone. Further, with effect as of 1 July 2015 the mobile phone number 0049 (0) 172 4320455 will be transferred to the Managing Director. The Companies will make all declarations necessary for the transfer of the mobile phone number. From 1 July 2015 the Companies will no longer pay for the monthly costs and access fees of the mobile phone provided to the Managing Director. 

	12.     VERFALLKLAUSE / ENTLASTUNG
	 
	12.     FORFEITURE / DISCHARGE

	
			
	12.1      Die Parteien sind sich darüber einig, dass mit Erfüllung der in diesem Vertrag geregelten Pflichten alle gegenseitigen Ansprüche der Gesellschaften einerseits und dem Geschäftsführer anderseits aus und im Zusammenhang mit dem Anstellungsverhältnis und seiner Beendigung abgegolten und erledigt sind. Dies gilt nicht für etwaige Ansprüche des Geschäftsführers aus einer betrieblichen Altersversorgung. Ferner bestätigt der Geschäftsführer hiermit im Wege eines echten Vertrages zu Gunsten Dritter gemäß § 328 BGB, dass er keine offenen Ansprüche gegen Verbundene Unternehmen hat. 
	 
	12.1    The parties agree that with the due performance of the obligations provided for in this Agreement, there are no further mutual claims of the Companies on the one hand and the Managing Director on the other hand in connection with this employment relationship and its termination. This does not apply for any possible entitlements of the Managing Director resulting from the company’s pension scheme.  Further, the Managing Director herby explicitly confirms by way of a contract for the benefit of third parties according to sec. 328 German Civil Code that he does not have any outstanding claims against any Affiliated Company.

	12.2    Der Geschäftsführer bestätigt, dass er die Geschäfte der Gesellschaft jederzeit mit der Sorgfalt eines ordentlichen und gewissenhaften Kaufmannes nach Maßgabe der gesetzlichen Bestimmungen, insbesondere den Bestimmungen des GmbH-Gesetzes, dem Gesellschaftsvertrag, den Beschlüssen der Gesellschafterversammlung und der Geschäftsordnung für die Geschäftsführung geführt hat.
	 
	12.2  The Managing Director confirms that he has conducted at any time the business of the Company with the diligence of a prudent businessman and in accordance with the statutory provisions, in particular with the provisions of the German Act on Limited Liability Companies (GmbH-Gesetz), the Company’s articles of association, the resolutions of the shareholders’ meeting and the Company’s rules and regulations for the management.

	12.3    Auf Grundlage der vorstehenden Bestätigung werden die Gesellschaften dem Geschäftsführer für den Zeitraum ab dem 01.10.2014 Entlastung erteilen.
	 
	12.3   Based on the above confirmation, the Companies will discharge the Managing Director for the time period since 1 October 2014.

	13.    SCHLUSSBESTIMMUNGEN
	 
	13.     MISCELLANEOUS

	13.1     Änderungen und/oder Ergänzungen dieses Vertrags bedürfen der Schriftform. Dies gilt auch für eine Änderung der Schriftformvereinbarung.
	 
	13.1   Any changes and/or additions to this Agreement must be in written form. The same shall apply to any changes to this requirement of written form.

	13.2    Dieser Vertrag unterliegt deutschem Recht. 
	 
	13.2   This Agreement is subject to German law. 

	13.3  Dieser Vertrag ist in deutscher und englischer Sprache ausgefertigt. Im Falle eines Widerspruchs zwischen der deutschen und der englischen Fassung, hat die deutsche Fassung Vorrang.
	 
	13.3    This Agreement is issued in German and English language. In case of contradictions between the German and the English version, the German version shall prevail.

	13.4    Falls eine Bestimmung dieses Vertrages ungültig ist oder wird, bleibt die Gültigkeit der übrigen Bestimmungen davon unberührt. In diesem Fall ist die ungültige Bestimmung durch eine gültige Regelung zu ersetzen, die dem wirtschaftlichen Zweck der ungültigen Bestimmung am nächsten kommt.
	 
	13.4    Should one of the provisions of this Agreement be or become invalid, this shall not affect the validity of the remaining provisions. In such event, the invalid provision shall be replaced by a valid provision that comes as close as possible to the economic purpose of the invalid provision.

	
					
	Hamburg, 04.06.2015
	 
	Hamburg, 04.06.2015
	 
	Günding, 04.06.2015

	(Ort / Place) (Datum / Date)  
	 
	(Ort / Place) (Datum / Date)  
	 
	(Ort / Place) (Datum / Date)  

	/s/ I. MODROFF-SCHWAB DE MITTELSTÄDT
/s/ THOMAS MERK
	 
	/s/ INGRID MITTELSTÄDT
/s/ THORSTEN FRAUNPREIß
	 
	/s/ GÜNTHER BRAUN

	ROFIN-SINAR Laser GmbH, vertreten durch die Alleingesellschafterin, die ROFIN-SINAR Technologies Europe S.L., diese wiederum vertreten durch Frau Ines Ingrid Modroff-Schwab de Mittelstädt und Herrn Thomas Merk
	 
	CBL Verwaltungsgesellschaft mbH, vertreten durch die Alleingesellschafterin, die ROFIN-SINAR Laser GmbH, diese wiederum vertreten durch Frau Ingrid Mittelstädt und Herrn Thorsten Frauenpreiß

	 
	Günther Braun

 
Anlage 1 / Annex 1
Niederlegungserklärung / Resignation Notice

Günther Braun 

Persönlich/Vertraulich
An/To
CBL Verwaltungsgesellschaft mbH, 
vertreten durch die Alleingesellschafterin, die ROFIN-SINAR Laser GmbH, 
diese wiederum vertreten durch Frau Ingrid Mittelstädt und Herrn Thorsten Frauenpreiß

Günding, 04.06.2015

Niederlegung des Amtes als Geschäftsführer
Resignation from the office as Managing Director

	
			
	Sehr geehrte Damen und Herren, 
	 
	Dear Sir or Madam,

	hiermit lege ich mein Amt als Geschäftsführer der CBL Verwaltungsgesellschaft mbH mit Wirkung zum 01.07.2015 nieder.
	 
	I hereby resign from the office as Managing Director of CBL Verwaltungsgesellschaft mbH with effect as of 1 July 2015. 

	Bitte bestätigen Sie den Erhalt dieses Schreibens durch Unterschrift auf der beigefügten Empfangsbestätigung.
	 
	Please confirm receipt of this letter by signing the acknowledgement of receipt attached.

	Mit freundlichen Grüßen
	 
	Kind regards,

	

/s/ Günther Braun 

	Günther Braun

Empfangsbestätigung/Acknowledgement of receipt
	
			
	Das unterschriebene Schreiben vom [Datum] betreffend Niederlegung des Geschäftsführeramtes haben wir heute erhalten und nehmen die Niederlegung an.
	 
	We received the signed letter of [Date] regarding resignation of the office of the managing director today and approve the resignation.

	                                              
	 
	                                           

	(Place, Date)
	 
	(Place, Date)

	                                              
	 
	                                          

	Ingrid Mittelstädt
	 
	Thorsten Frauenpreiß 

Günther Braun 

Persönlich/Vertraulich
An/To
ROFIN-SINAR Laser GmbH, 
vertreten durch die Alleingesellschafterin, die ROFIN-SINAR Technologies Europe S.L., diese wiederum vertreten durch Frau Ines I. Modroff-Schwab de Mittelstädt und Herrn Thomas Merk

Günding, 04.06.2015

Niederlegung des Amtes als Geschäftsführer
Resignation from the office as Managing Director

	
			
	Sehr geehrte Damen und Herren, 
	 
	Dear Sir or Madam,

	hiermit lege ich mein Amt als Geschäftsführer der ROFIN-SINAR Laser GmbH mit Wirkung zum 01.07.2015 nieder.
	 
	I hereby resign from the office as Managing Director of ROFIN-SINAR Laser GmbH with effect as of 1 July 2015. 

	Bitte bestätigen Sie den Erhalt dieses Schreibens durch Unterschrift auf der beigefügten Empfangsbestätigung.
	 
	Please confirm receipt of this letter by signing the acknowledgement of receipt attached.

	Mit freundlichen Grüßen
	 
	Kind regards,

	

/s/ Günther Braun 

	Günther Braun

Empfangsbestätigung/Acknowledgement of receipt

	
			
	Das unterschriebene Schreiben vom [Datum] betreffend Niederlegung des Geschäftsführeramtes haben wir heute erhalten und nehmen die Niederlegung an.

	 
	We received the signed letter of [Date] regarding resignation of the office of the managing director today and approve the resignation.

	                                              
	 
	                                              

	(Place, Date)
	 
	(Place, Date)

	                                              
	 
	                                              

	I. Modroff-Schwab de Mittelstädt
	 
	Thomas Merk

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