Document:

Exhibit 10.25

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”) is made as of January 23, 2018, by and between Cision US Inc., a Delaware corporation
(“Employer”), and Dr. Rainer Mathes (“Executive”).

 

Employer and Executive
mutually desire to enter into an agreement containing the terms and conditions pursuant to which Employer will employ Executive.

 

In consideration of the
mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties to this Agreement hereby agree as follows:

 

1.           Employment.
The terms of this Agreement are intended by the parties hereto to be the final expression of their agreement with respect to the
employment of Executive by Employer, and this Agreement supersedes any and all prior understandings and agreements between Executive
and Employer regarding Executive’s employment with Employer, whether written or oral. Employer agrees to employ Executive,
and Executive accepts such employment, for the period beginning on the date hereof and ending upon his separation pursuant to Section
1(c) hereof (the “Employment Period”).

 

(a)          Position
and Duties. During the Employment Period, Executive shall serve as the President of Cision Global Insights and shall have such
other responsibilities as are reasonably directed by Employer’s Chief Executive Officer (the “CEO”) or
the Board, subject in each case to the power of the CEO and the Board to expand, limit or otherwise alter such duties, responsibilities,
positions and authority and to otherwise override actions of officers. Executive shall perform his services pursuant to this Agreement
for the Employer and for any Subsidiaries or Affiliates designated by the Board or the CEO or his designee to whom Executive reports.
Executive shall report to the CEO or his designee, and Executive shall devote his best efforts and his full business time and attention
to the business and affairs of Employer and its Subsidiaries and Affiliates; provided that Executive shall be permitted, with the
prior written consent of the CEO (which consent shall not be unreasonably withheld), to engage in civic, charitable and other non-profit
activities that do not interfere with Executive’s employment and other duties or obligations to the Employer, its Subsidiaries
and Affiliates.

 

(b)         Salary,
Bonuses and Benefits. During the Employment Period, Executive shall be paid a base salary at a rate of €157,500 EUR per
annum (such base salary, as may be adjusted pursuant hereto, the “Annual Base Salary”). For each fiscal year
beginning in 2018 and ending during the Employment Period in which Executive remains employed through the last day of such fiscal
year, Executive shall be eligible for an annual bonus in an amount up to €157,500 EUR. Each annual bonus shall be determined
by Employer based upon the performance of Executive and the achievement by Employer and its Subsidiaries of financial, operating
and other objectives set by Employer. Each annual bonus shall be paid in the fiscal year following the fiscal year to which the
bonus relates. Notwithstanding the foregoing, the minimum bonus for the fiscal year beginning in 2018 shall be in an amount equal
to at least 50% of the amount of the Annual Base Salary for such fiscal year. In addition, during the Employment Period, Executive
will be entitled to such other benefits as are made generally available by the Employer to its employees, including the Employer’s
401(k) plan, as well as such other benefits as are approved by Employer and made generally available to other employees of the
Employer who are in similar roles to that of the Employee, including the Employer’s 2017 Omnibus Incentive Plan, and subject
in each case to the terms and conditions and eligibility criteria (including approval by appropriate committees) governing such
benefits.

 

     

     

    

 

(c)          Separation.
The Employment Period will continue until (i) Executive's resignation, death, or Disability or (ii) the Employer terminates Executive’s
employment with or without Cause. Upon the termination of Executive’s employment for any reason, Executive (or, in the event
of Executive’s death, Executive’s estate) shall be entitled to receive (A) any earned but unpaid Annual Base Salary
through the date of such termination, subject to withholding and other appropriate deductions, (B) reimbursement for reasonable
and documented expenses accrued during employment, subject to and in accordance with, Employer’s expense reimbursement policy,
(C) any earned but unpaid annual bonus relating to any prior fiscal year, and (D) any vested benefits (including vacation, but
excluding severance-type benefits) accrued through the date of such termination in accordance with applicable law or the governing
agreement, plan or policy rules (clauses (A) through (D), collectively, the “Accrued Obligations”). If Executive’s
employment is terminated by the Employer without Cause pursuant to clause (ii) above, then, in addition to the Accrued Obligations,
during the 6-month period commencing on the date of termination (the “Severance Period”). Employer shall pay
to Executive an aggregate amount equal to 50% of his or her Annual Base Salary, payable in equal installments on Employer’s
regular salary payment dates as in effect on the date of the Separation (the “Severance Payments”). In addition,
Employer shall have the option, by delivering written notice to Executive at least 60 days prior to the end of the then-applicable
Severance Period, to extend the Severance Period for up to one additional six-month period (i.e., through the 12-month anniversary
of the date of Separation) during which period the Employer shall continue to pay Executive’s Severance Payments to Executive
at the same annual rate (pro rated as applicable). Notwithstanding anything herein to the contrary, (I) Executive shall not be
entitled to receive any portion of the Severance Payments unless Executive has executed and delivered to Employer a general release
in form and substance satisfactory to Employer (a “Release”) in accordance with Section 1(e)(vii) (and
such release is in full force and effect and has not been revoked), and (II) Executive shall be entitled to receive the Severance
Payments only so long as Executive has not breached any of the provisions of such general release or Section 2 or Section
3 hereof. Following a Separation for any reason, Executive shall not be entitled to any further payments from Employer, the
Parent or their respective Affiliates in respect of his or her employment with any of them, nor shall they have any further liability
to Executive in respect thereof, except as expressly set forth in this Section 1.

 

(d)          Code
Section 409A.

 

(i)          The
intent of the parties is that payments and benefits under this Agreement comply with or otherwise be exempt from Section 409A of
the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly,
to the maximum extent permitted, this Agreement shall be interpreted to be either exempt from or in compliance therewith. In no
event shall Employer or the Parent be liable for any additional tax, interest or penalty that may be imposed on Executive by Code
Section 409A or damages for failing to comply with Code Section 409A.

 

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(ii)         Notwithstanding
any other payment schedule provided herein to the contrary, if the Executive is deemed on the date of termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B), then any payment under Section 1 hereof
that is considered deferred compensation under Code Section 409A payable on account of a “separation from service”
shall not be made until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date
of such “separation from service” of Executive, and (B) the date of Executive’s death (the “Delay Period”)
to the extent required under Code Section 409A. Upon the expiration of the Delay Period, all payments delayed pursuant to this
Section 1(e) shall be paid to the Executive in a lump sum, and all remaining payments due under this Agreement shall be
paid or provided in accordance with the normal payment dates specified for them herein.

 

(iii)        A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits that constitute “nonqualified deferred compensation” (within the meaning of Code
Section 409A) upon or following a termination of employment unless such termination is also a “separation from service”
within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,”
“termination of employment” or like terms shall mean “separation from service.”

 

(iv)        For
purposes of Code Section 409A, Executive’s right to receive any installment payment pursuant to this Agreement shall be treated
as a right to receive a series of separate and distinct payments.

 

(v)         Notwithstanding
any other provision to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred
compensation” (within the meaning of Code Section 409A) be subject to offset by any other amount unless otherwise permitted
by Code Section 409A.

 

(vi)        To
the extent that any reimbursement of expenses or in-kind benefits constitute “nonqualified deferred compensation” (within
the meaning of Code Section 409A), such reimbursement shall be provided no later than December 31 of the year following the year
in which the expense was incurred, the amount of any expenses reimbursed or in-kind benefits provided in one year shall not affect
the amount eligible for reimbursement or in-kind benefits provided in any subsequent year (other than an arrangement providing
for the reimbursement of medical expenses referred to in Section 105(b) of the Code), and Executive’s right to such payments
or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit.

 

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(vii)       Notwithstanding
anything to the contrary in this Agreement, to the extent that any payments of “nonqualified deferred compensation”
(within the meaning of Code Section 409A) due under this Agreement as a result of Executive’s termination of employment are
subject to Executive’s execution and delivery of a Release, (A) Employer shall deliver the Release to Executive within ten
days following the date of Executive’s termination of employment, (B) provided Employer timely complies with its obligation
under clause (A), if Executive fails to execute the Release on or prior to the Release Expiration Date (as defined below) or timely
revokes his or her acceptance of the Release thereafter, he shall not be entitled to any payments or benefits otherwise conditioned
on the Release, and (C) in any case where the date of termination of employment and the Release Expiration Date fall in two separate
taxable years, any payments required to be made to Executive that are conditioned on the Release and are treated as “nonqualified
deferred compensation” (within the meaning of Code Section 409A) shall be made in the later taxable year. For purposes of
this Section 1(e)(vii) “Release Expiration Date” shall mean the date that is 31 days following the date
of Executive’s termination of employment, or, in the event that Executive’s termination of employment is “in
connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination
in Employment Act of 1967), the date that is 55 days following the date of Executive’s termination of employment. To the
extent that any payments of nonqualified deferred compensation (within the meaning of Code Section 409A) due under this Agreement
as a result of Executive’s termination of employment are delayed pursuant to this Section 1(e)(vii), such amounts
shall be paid in a lump sum on the first payroll date following the date that Executive executes and does not revoke the Release
(and the applicable revocation period has expired) or, in the case of any payments subject to clause (C) of this Section 1(e)(vii),
on the first payroll period to occur in the subsequent taxable year, if later.

 

2.           Confidential
Information.

 

(a)          Obligation
to Maintain Confidentiality. Executive acknowledges that the information, observations and data (including trade secrets) obtained
by him or her during the course of his or her employment with Employer concerning the business or affairs of Employer, the Parent,
and their respective Subsidiaries and Affiliates (“Confidential Information”) are the property of Employer,
the Parent or such Subsidiaries and Affiliates, including information concerning acquisition opportunities in or reasonably related
to Employer’s and the Parent’s business or industry of which Executive becomes aware during the Employment Period.
Therefore, Executive agrees that he will not disclose to any unauthorized Person or use for his or her own account any Confidential
Information without the Board’s written consent, unless and to the extent that the Confidential Information, (i) becomes
generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act or
(ii) is required to be disclosed pursuant to any applicable law or court order. Executive shall deliver to Employer at a Separation,
or at any other time Employer may reasonably request, all memoranda, notes, plans, records, reports, computer tapes, printouts
and software and other documents and data (and copies thereof) relating to the Confidential Information, Work Product (as defined
below) or the business of Employer, the Parent and their respective Subsidiaries and Affiliates (including, without limitation,
all acquisition prospects, lists and contact information) which he may then possess or have under his or her control.

 

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(b)          Ownership
of Property. Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments,
methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether
or not including any confidential information) and all registrations or applications related thereto, all other proprietary information
and all similar or related information (whether or not patentable) that relate to Employer’s, the Parent’s or any of
their respective Subsidiaries’ or Affiliates’ actual or anticipated business, research and development, or existing
or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Executive (either
solely or jointly with others) while employed by Employer, the Parent or any of their respective Subsidiaries or Affiliates (including
any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to Employer,
the Parent or such Subsidiary or Affiliate, and Executive hereby assigns, and agrees to assign, all of the above Work Product to
Employer, the Parent or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Executive in the
course of his or her work for any of the foregoing entities shall be deemed a “work made for hire” under the copyright
laws, and Employer, the Parent or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable
work is not a “work made for hire,” Executive hereby assigns and agrees to assign to Employer, the Parent or such Subsidiary
or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work. Executive
shall promptly disclose such Work Product and copyrightable work to the Board and perform all actions reasonably requested by the
Board (whether during or after the Employment Period) to establish and confirm Employer’s, the Parent’s or such Subsidiary’s
or Affiliate’s ownership (including, without limitation, assignments, consents, powers of attorney, and other instruments).

 

(c)          Third
Party Information. Executive understands that Employer, the Parent and their respective Subsidiaries and Affiliates will receive
from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on
Employer’s, the Parent’s and their respective Subsidiaries and Affiliates’ part to maintain the confidentiality
of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in
any way limiting the provisions of Section 2(a) above, Executive will hold Third Party Information in the strictest confidence
and will not disclose to anyone (other than personnel and consultants of Employer, the Parent or their respective Subsidiaries
and Affiliates who need to know such information in connection with their work for Employer, the Parent or their respective Subsidiaries
and Affiliates) or use, except in connection with his or her work for Employer, the Parent or their respective Subsidiaries and
Affiliates, Third Party Information unless expressly authorized by the Board in writing.

 

(d)          Use
of Information of Prior Employers. During the Employment Period, Executive will not improperly use or disclose any confidential
information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality,
and will not bring onto the premises of Employer, the Parent or any of their respective Subsidiaries or Affiliates any unpublished
documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality
unless consented to in writing by the former employer or Person. Executive will use in the performance of his or her duties only
information which is (i) generally known and used by persons with training and experience comparable to Executive’s and which
is (x) common knowledge in the industry or (y) otherwise legally in the public domain, (ii) otherwise provided or developed by
Employer, the Parent or any of their respective Subsidiaries or Affiliates or (iii) in the case of materials, property or information
belonging to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use
in writing by such former employer or Person.

 

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3.          Noncompetition
and Nonsolicitation. Executive acknowledges that in the course of his or her employment with Employer he will become familiar
with Employer’s, the Parent’s and their respective Subsidiaries’ trade secrets and with other confidential information
concerning Employer, the Parent and such Subsidiaries and that his or her services will be of special, unique and extraordinary
value to Employer, the Parent and such Subsidiaries. Therefore, Executive agrees that:

 

(a)          Noncompetition.
During the Restricted Period, Executive shall not, directly or indirectly, own, manage, control, participate in, consult with,
render services for, or in any manner engage in any business which competes anywhere in the United States, the United Kingdom,
or Germany with any of the businesses of the Employer, the Parent or any of their respective Subsidiaries or competing with any
other business for which Employer, the Parent or any of their respective Subsidiaries has engaged in discussions or has requested
and received information relating to the acquisition of such business by Employer, the Parent or any of their respective Subsidiaries
within the eighteen-month period immediately preceding the Separation. Nothing herein shall prohibit Executive from being a passive
owner of not more than 2% of the outstanding stock of any class of a corporation that is publicly traded, so long as Executive
has no active participation in the business of such corporation.

 

(b)          Nonsolicitation.
During the Restricted Period, Executive shall not directly or indirectly through another entity (i) induce or attempt to induce
any employee of Employer, the Parent or any of their respective Subsidiaries to leave the employ of Employer, the Parent or such
Subsidiary, or in any way interfere with the relationship between Employer, the Parent or any of their respective Subsidiaries
and any employee thereof, (ii) hire any employee of Employer, the Parent or any of their respective Subsidiaries or hire any former
employee of Employer, the Parent or any of their respective Subsidiaries within 12 months after such person ceased to be an employee
of Employer, the Parent or any of their respective Subsidiaries, (iii) induce or attempt to induce any customer, supplier, licensee
or other business relation of Employer, the Parent or any of their respective Subsidiaries to cease doing business with Employer,
the Parent or such Subsidiary or in any way interfere with the relationship between any such customer, supplier, licensee or business
relation and Employer, the Parent or any such Subsidiary or (iv) directly or indirectly acquire or attempt to acquire an interest
in any business relating to the business of Employer, the Parent or any of their respective Subsidiaries and with which Employer,
the Parent or any of their respective Subsidiaries has engaged in discussions or has requested and received information relating
to the acquisition of such business by Employer, the Parent or any of their respective Subsidiaries at any time within the eighteen-month
period immediately preceding a Separation.

 

(c)          Nondisparagement.
Executive shall not, directly or indirectly through any other Person, make any public statement that is intended to or could reasonably
be expected to disparage the Employer, the Parent or any of their respective Subsidiaries, Affiliates or businesses, products,
services, equityholders, directors, managers, officers or employees.

 

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(d)          Enforcement.
If, at the time of enforcement of Section 2 or this Section 3, a court holds that the restrictions stated herein
are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area
reasonable under such circumstances shall be substituted for the stated period, scope or area and that the court shall be allowed
to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Executive’s
services are unique and because Executive has access to confidential information, the parties hereto agree that money damages would
be an inadequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement,
Employer and/or its respective successors or assigns may, in addition to other rights and remedies existing in their favor, apply
to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent
any violations of, the provisions hereof (without posting a bond or other security). In the event that Executive breaches any provision
of this Section 3, then the Restricted Period shall be extended for a period of time equal to the period of time during
which such breach occurred and, in the event that Employer any of its Subsidiaries is required to seek relief from such breach
in any court, then the Restricted Period shall be extended for a period of time equal to the pendency of such proceedings, including
all appeals.

 

(e)          Additional
Acknowledgments. Executive acknowledges that the provisions of this Section 3 are in consideration of: (i) employment
with Employer and (ii) additional good and valuable consideration as set forth in this Agreement. In addition, Executive agrees
and acknowledges that the restrictions contained in Section 2 and this Section 3 do not preclude Executive from earning
a livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In addition, Executive
acknowledges (x) that the business of Employer, the Parent and their respective Subsidiaries will be conducted throughout the United
States and other jurisdictions where Employer, the Parent or any of their respective Subsidiaries conduct business during the Employment
Period, (y) notwithstanding the state of organization or principal office of Employer, the Parent or any of their respective Subsidiaries,
or any of their respective executives or employees (including the Executive), it is expected that Employer, the Parent and their
respective Subsidiaries will have business activities and have valuable business relationships within its industry throughout the
United States and other jurisdictions where Employer, the Parent or any of their respective Subsidiaries conduct business during
the Employment Period, and (z) as part of his or her responsibilities, Executive may be traveling throughout the United States
and other jurisdictions where Employer, the Parent or any of their respective Subsidiaries conduct business during the Employment
Period in furtherance of Employer’s business and its relationships. Executive agrees and acknowledges that the potential
harm to Employer, the Parent and their respective Subsidiaries of the non-enforcement of any provision of Section 2 or this
Section 3 outweighs any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges
that he has carefully read this Agreement and consulted with legal counsel of his or her choosing regarding its contents, has given
careful consideration to the restraints imposed upon Executive by this Agreement and is in full accord as to their necessity for
the reasonable and proper protection of confidential and proprietary information of Employer, the Parent and their respective Subsidiaries
now existing or to be developed in the future. Executive expressly acknowledges and agrees that each and every restraint imposed
by this Agreement is reasonable with respect to subject matter, time period and geographical area.

 

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4.          Definitions.

 

“Affiliate”
means, with respect to any Person, (i) any other Person controlling, controlled by or under common control with such particular
Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies
of a Person whether through the ownership of voting securities, by contract, or otherwise, and (ii) if such Person is a partnership,
any partner thereof.

 

“Board”
means the board of directors of Parent.

 

“Cause”
means (i) the commission of a felony or a crime involving moral turpitude or the commission of any other act or omission involving
dishonesty or fraud with respect to Employer, the Parent or any of their respective Subsidiaries or any of their customers, vendors
or employees, (ii) substantial and repeated failure to perform duties of the office held by Executive as reasonably directed by
an executive to whom Executive directly or indirectly reports or by Employer, (iii) gross negligence or willful misconduct with
respect to Employer, the Parent or any of their respective Subsidiaries or any of their customers, vendors or employees, (iv) conduct
which could reasonably be expected to bring Employer, the Parent or any of their respective Subsidiaries into substantial public
disgrace or disrepute, (v) any breach by Executive of Section 2 or Section 3 of this Agreement and/or (vi) a failure
to observe policies or standards regarding employment practices (including, without limitation, nondiscrimination and sexual harassment
policies) as approved by Employer from time to time.

 

“Disability”
means the disability of Executive caused by any physical or mental injury, illness or incapacity as a result of which Executive
is, or is reasonably expected to be, unable to effectively perform the essential functions of Executive’s duties for a continuous
period of more than 120 days or for 180 days (whether or not continuous) within a 365 day period, as determined by the Board in
good faith.

 

“Parent”
means Cision Ltd., a Cayman Islands public company, or in the event that Employer is no longer a Subsidiary of Cision Ltd., the
Employer’s direct parent company.

 

“Partnership”
means Canyon Holdings (Cayman), L.P., a Cayman Islands exempted limited partnership.

 

“Person”
means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization, investment fund, any other business entity and a governmental entity or any department,
agency or political subdivision thereof.

 

“Restricted
Period” means the Employment Period plus either (i) the Severance Period, if Executive’s employment is terminated
without Cause pursuant to clause 1(c)(ii) above, after giving effect to extension of the Severance Period in accordance with Section
3(c), or (ii) the 12-month period immediately following the Employment Period if Executive’s employment is terminated
under any other circumstances.

 

“Separation”
means Executive ceasing to be employed by Employer and its Subsidiaries for any reason.

 

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“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association, or business entity of
which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited
liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership or
other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association, or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business
entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership,
association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall
be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Partnership.

 

5.          Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when (i) delivered personally to the recipient, (ii) sent to the recipient
by reputable express courier service (charges prepaid), (iii) mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid, or (iv) telecopied to the recipient (with hard copy sent to the recipient by reputable overnight
courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. Chicago, Illinois time on a business day, and otherwise
on the next business day. Such notices, demands and other communications shall be sent to the parties at the addresses indicated
below:

 

If to the Parent
or Employer:

 

	 	Cision US, Inc.
	 	130 East Randolph St. 7th Floor
	 	Chicago, IL 60601
	 	Facsimile:	(301) 459-2827
	 	Email:	jack.pearlstein@cision.com
	 	Attention:	Jack Pearlstein
	 	 	 
	 	with a copy to:
	 	 
	 	Kirkland & Ellis LLP
	 	300 North LaSalle
	 	Chicago, IL 60654
	 	Facsimile:	(312) 862-2200
	 	Attention:	Stephen L. Ritchie, P.C.
	 	 	Mark A. Fennell, P.C.

 

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If to Executive:

 

	 	Dr. Rainer Mathes

 

or such other address or to the attention
of such other Person as the recipient party shall have specified by prior written notice to the sending party.

 

6.            General
Provisions.

 

(a)           Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein.

 

(b)           Complete
Agreement. This Agreement, those documents expressly referred to herein and other documents of even date herewith embody the
complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations
by or among the parties, written or oral, which may have related to the subject matter hereof in any way, provided, that
any other confidentiality non-competition, or non-solicitation obligations of Executive with the Parent, Employer, or their respective
Affiliates shall not be so superseded or preempted.

 

(c)           No
Strict Construction; Descriptive Headings; Interpretation. The language used in this Agreement shall be deemed to be the language
chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a section of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Any reference
in this Agreement to the “judgment” or “discretion” of a party shall mean the sole judgment or discretion
of such party.

 

(d)           Counterparts.
This Agreement may be executed in separate counterparts (including by means of facsimile), each of which is deemed to be an original
and all of which taken together constitute one and the same agreement.

 

(e)           Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable
by Executive, Employer, and their respective successors and assigns; provided that the rights and obligations of Executive
under this Agreement shall not be assigned or delegated.

 

(f)            Choice
of Law. The laws of the State of Delaware will govern all questions concerning the relative rights of the Employer and Executive
and all other questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

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(g)          Jurisdiction;
Venue; Service of Process. Each party hereto agrees that it may bring any action between the parties hereto arising out of
or related to this Agreement in the Court of Chancery of the State of Delaware (the “Court of Chancery”) or,
to the extent the Court of Chancery does not have subject matter jurisdiction, the United States District Court for the District
of Delaware and the appellate courts having jurisdiction of appeals in such courts (the “Delaware Federal Court”)
or, to the extent neither the Court of Chancery nor the Delaware Federal Court has subject matter jurisdiction, the Superior Court
of the State of Delaware (collectively, the “Chosen Courts”), and, solely with respect to any such action (i)
irrevocably submits to the non-exclusive jurisdiction of the Chosen Courts, (ii) waives any objection to laying venue in any such
action in the Chosen Courts, (iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction
over any party hereto and (iv) agrees that service of process upon such party in any such action shall be effective if notice is
given in accordance with Section 5.

 

(h)          MUTUAL
WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED
BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES HERETO WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION
RULES), THE PARTIES HERETO DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE
THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY WAIVES ALL
RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO,
WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS
CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(i)          Executive’s
Cooperation. During the Employment Period and thereafter, Executive shall cooperate with Employer and its Subsidiaries and
Affiliates in any disputes with third parties, internal investigation or administrative, regulatory or judicial proceeding as reasonably
requested by Employer (including, without limitation, Executive being available to Employer upon reasonable notice for interviews
and factual investigations, appearing at Employer’s reasonable request to give testimony without requiring service of a subpoena
or other legal process, volunteering to Employer all pertinent information and turning over to Employer all relevant documents
which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s
other permitted activities and commitments). In the event Employer requires Executive’s cooperation in accordance with this
paragraph after the Employment Period, Employer shall reimburse Executive for reasonable travel expenses (including lodging and
meals, upon submission of receipts).

 

    	 	11	 

     

    

 

(j)           Remedies.
Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages
and costs (including attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other rights
existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach
of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent
jurisdiction (without posting any bond or deposit) for specific performance and/or other injunctive relief in order to enforce
or prevent any violations of the provisions of this Agreement. Notwithstanding anything to the contrary herein, nothing in this
Agreement prevents the Executive from filing any administrative charge or participating in any administrative investigation or
proceeding with respect to which the right to file or participate cannot be waived under applicable law.

 

(k)          Amendment
and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of Employer, the
Parent, and Executive.

 

(l)            Insurance.
Employer, at its discretion, may apply for and procure in its own name and for its own benefit life and/or disability insurance
on Executive in any amount or amounts considered available. Executive agrees to cooperate in any medical or other examination,
supply any information, and to execute and deliver any applications or other instruments in writing as may be reasonably necessary
to obtain and constitute such insurance. Executive hereby represents that Executive has no reason to believe that Executive’s
life is not insurable at rates now prevailing for healthy individuals of Executive’s age.

 

(m)         Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or holiday
in the state in which Employer’s chief executive office is located, the time period shall be automatically extended to the
business day immediately following such Saturday, Sunday or holiday.

 

(n)          Indemnification
and Reimbursement of Payments on Behalf of Executive. Employer, the Parent and their respective Subsidiaries shall be entitled
to deduct or withhold from any amounts owing from Employer, the Parent or any of their respective Subsidiaries to Executive (including
withholding shares or other equity securities in the case of issuances of equity by Employer, the Parent or any of their respective
Subsidiaries) any federal, state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Executive’s compensation or other payments from Employer, the Parent or any of their respective Subsidiaries,
including, without limitation, wages, bonuses, distributions, the receipt or exercise of equity options and/or the receipt or vesting
of restricted equity. In the event any such deductions or withholdings are not made, Executive shall indemnify the Employer, the
Parent and each of their respective Subsidiaries for any amounts paid with respect to any such Taxes.

 

(o)          Termination.
This Agreement (except for the provisions of Sections 1(a), 1(b) and 1(c)) shall survive a Separation and shall remain
in full force and effect after such Separation.

 

    	 	12	 

     

    

 

(p)          Electronic
Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered
by means of a photographic, photostatic, facsimile, portable document format (.pdf), or similar reproduction of such signed writing
using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument
and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.
At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute
original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise
the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability
of a contract and each such party forever waives any such defense.

 

(q)          No
Third-Party Beneficiaries. Except as expressly provided herein, no term or provision of this Agreement is intended to be, or
shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder.

 

(r)           Representations.
Executive represents and warrants to Employer that (i) this Agreement constitutes the legal, valid and binding obligation of Executive,
enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by Executive does not and
will not conflict with, violate or cause a breach of any agreement, contract or instrument to which Executive is a party or any
judgment, order or decree to which Executive is subject, and (ii) Executive is neither party to, nor bound by, any other employment
agreement, consulting agreement, noncompete agreement, non-solicitation agreement or confidentiality agreement or any other agreement
which could impair or interfere with Executive’s obligations hereunder.

 

*  *  *  *  *

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Employment Agreement as of the date first above written.

 

	 	CISION US, INC.

 

	 	By:	/s/ Jack Pearlstein
	 	Name:	Jack Pearlstein
	 	Its:	Chief Financial Officer

 

	 	EXECUTIVE

 

	 	/s/ Dr. Rainer Mathes
	 	Dr. Rainer MathesExhibit 10.26

 

	 	GESCHÄFTSFÜHRER-

DIENSTVERTRAG	 	MANAGING DIRECTOR

SERVICE CONTRACT
	 	 	 	 
	 	zwischen der	 	Between
	 	 	 	 
	 	
        Cision Germany GmbH, eingetragen im Handelsregister
        des Amtsgerichts Frankfurt am Main unter der HRB-Nummer 87462, mit Sitz und Anschrift in Hanauer Landstrasse 287 60314, Frankfurt,
        vertreten durch die alleinige Gesellschafterin Canyon UK Investments, Ltd.

         

        - die "Gesellschaft" -
	 	
        Cision Germany GmbH, registered in the
        commercial register of the local court of Frankfurt am Main under HRB 87462 and having its registered office at Hanauer Landstrasse
        287 60314, Frankfurt, represented by its sole shareholder Canyon UK Investments, Ltd.

         

        - the "Company" -

	 	 	 	 
	 	und	 	And
	 	 	 	 
	 	
        Herrn Dr. Rainer Mathes, Maler-Müller-Str.
        10, 55545 Bad Kreuznach, Deutschland

         

        - der "Geschäftsführer"
        -
	 	
        Dr. Rainer Mathes, Maler-Müller-Str.
        10, 55545 Bad Kreuznach, Germany

         

        - the "Managing Director"
        -

	 	 	 	 
	 	Präambel	 	Preamble
	 	 	 	 
	 	Herr Dr. Mathes wird mit Wirkung zum 23 January 2018 zum Geschäftsführer der Gesellschaft bestellt. 	 	Dr. Mathes will be appointed as managing director of the Company with effect as of 23 January 2018.
	 	 	 	 
	 	Mit diesem Geschäftsführer-Dienstvertrag (nachfolgend „Dienstvertrag“) sollen die Rechtsverhältnisse zwischen der Gesellschaft und dem Geschäftsführer – unter Aufhebung und Ersetzung sämtlicher bisheriger (auch mündlicher) Anstellungsverträge – mit Wirkung ab dem 23 January 2018 geregelt werden.	 	This Managing Director Service Contract (hereinafter “Service Contract”) shall with effect as of 23 January 2018 provide the legal basis in respect of the service relationship between the Managing Director and the Company – replacing any existing (including unwritten) employment or service agreements between them.

 

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	 	Gegenstand dieses Dienstvertrags ist allein die Tätigkeit des Geschäftsführers im Hinblick auf die Gesellschaft und die verbundenen Gesellschaften in Deutschland. Die Tätigkeit als Präsident der „CISION Global Insights Division” in den USA wird durch einen separaten Vertrag mit der US-amerikanischen Muttergesellschaft geregelt.	 	The subject of this Service Contract is the Managing Director’s activity in respect of the Company and its Affiliated Companies in Germany. The activity as president of “CISION Global Insights Division” in the US is governed by a separate agreement with the US parent company.
	 	 	 	 
	1.	AUFGABEN UND PFLICHTEN / VERTRETUNGSMACHT	1.	TASKS AND DUTIES / POWER OF REPRESENTATION
	 	 	 	 
	1.1.	Der Geschäftsführer vertritt die Gesellschaft – sofern nicht nur ein Geschäftsführer bestellt ist – gesamtvertretungsberechtigt gerichtlich und außergerichtlich mit einem anderen Geschäftsführer oder einem Prokuristen und ist mit der verantwortlichen Leitung ihres gesamten Geschäftsbetriebes betraut. Darüber hinaus ist er CEO des Cision Global Insights Business in Deutschland.	1.1.	The Managing Director shall – provided more than one managing director has been appointed – represent the Company in and out of court with joint representative authority together with another managing director or an authorised signatory (Prokurist) and is responsible for the management of his entire business operation. Furthermore, the Managing Director shall be the CEO of the Cision Global Insights Business in Germany.  
	 	 	 	 
	1.2.	Die Gesellschaft ist jederzeit berechtigt, dem Geschäftsführer weitere und/oder andere Aufgaben in Bezug auf die Gesellschaft zuzuweisen. Diese weiteren oder anderen Aufgaben sind mit dem Festgehalt gemäß Ziffer 3.1. vollständig abgegolten.	1.2.	The Company is entitled to assign to the Managing Director any additional and/or different tasks in relation to the Company. Such additional or other tasks are fully compensated with the fixed annual salary pursuant to Clause 3.1.
	 	 	 	 
	1.3.	Der Geschäftsführer ist verpflichtet, die weiteren Geschäftsführer fortlaufend über wichtige, über den Umfang gewöhnlicher Geschäfte hinausgehende Angelegenheiten zu unterrichten und gemeinsame Entscheidungen herbeizuführen.	1.3.	The Managing Director is obliged to regularly inform the other managing directors about important matters outside the ordinary course of business and to reach common decisions.

 

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	1.4.	Der Geschäftsführer hat die Geschäfte mit der Sorgfalt eines ordentlichen Geschäftsmanns zu führen und die ihm nach Gesetz, Gesellschaftsvertrag, Geschäftsordnung der Geschäftsführung sowie diesem Dienstvertrag obliegenden Pflichten gewissenhaft zu erfüllen. Des Weiteren wird er die Weisungen des Gesellschafters oder eines Beirats, sofern ein solcher gebildet wird, stets befolgen. Er wird außerdem bestehende Zustimmungsvorbehalte stets beachten.	1.4.	The Managing Director shall manage the affairs of the Company with the diligence of a prudent businessman and shall diligently fulfil his obligations under the laws, the articles of association, the rules of procedure of the management and this Service Contract. Furthermore, the Managing Director shall at all times comply with the instructions of the shareholder or an advisory board, if established. He shall, furthermore, comply at all times with existing consent requirements.
	 	 	 	 
	1.5.	Die Gesellschaft ist jederzeit berechtigt, weitere Geschäftsführer zu ernennen und die Vertretungsbefugnis des Geschäftsführers zu ändern.	1.5.	The Company may appoint further managing directors and may change the responsibilities and rules of representation of the Managing Director at any time.
	 	 	 	 
	1.6.	Der Geschäftsführer wird auf Wunsch der Gesellschaft auch Ämter und Aufgaben, z. B. als Geschäftsführer, Aufsichtsratsmitglied, o.ä. in Unternehmen übernehmen, die mit der Gesellschaft im Sinne von § 15 AktG verbunden sind ("Verbundene Unternehmen"). Auf Wunsch der Gesellschaft wird der Geschäftsführer auch Tätigkeiten in Verbänden oder Ehrenämter übernehmen. Soweit nicht ausdrücklich etwas anderes vereinbart wird, entstehen durch die Übernahme solcher Aufgaben oder Tätigkeiten keine weiteren Anstellungsverhältnisse und keine gesonderten Vergütungsansprüche. Sollte der Geschäftsführer für die Wahrnehmung solcher Ämter oder Aufgaben eine gesonderte Vergütung erhalten, wird diese auf die Vergütung nach diesem Geschäftsführeranstellungsvertrag angerechnet. Auf solche Tätigkeiten findet Ziffer 2.2. keine Anwendung.	1.6.	At the request of the Company, the Managing Director shall assume offices and tasks, e.g. as Managing Director, supervisory board member as well as similar offices in companies affiliated with the Company in the sense of Sec. 15 of the German Stock Companies Act ("Affiliated Companies"). At the request of the Company, the Managing Director shall also take up activities in associations or honorary positions. Unless otherwise expressly agreed, no other employment relationships or individual remuneration claims shall arise from the assumption of such offices or tasks. If the Managing Director receives a remuneration for the assumption of such offices or tasks, this remuneration will be set off against the remuneration pursuant to this Managing Director’s Services Agreement. Clause 2.2. shall not apply to such offices or tasks.  

 

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	1.7.	Arbeitsort ist Mainz, Deutschland. Die Tätigkeit ist mit Reisen verbunden.	1.7.	The place of work shall be Mainz, Germany. The Managing Director will have to travel frequently.
	 	 	 	 
	2.	ARBEITSZEIT UND NEBENTÄTIG-KEITEN	2.	WORKING TIME AND SIDE AC-TIVITIES
	 	 	 	 
	2.1.	Der Geschäftsführer wird – unter Berücksichtigung der Tätigkeit als Präsident der „CISION Global Insights Division” – seine volle Arbeitskraft sowie sein ganzes Wissen und Können der Gesellschaft bzw. den Verbundenen Unternehmen widmen. Der Geschäftsführer ist in der Gestaltung seiner Arbeitszeit unter Beachtung der betrieblichen Belange frei. 	2.1.	Taking his tasks and activities as president of “CISION Global Insights Division” into account, the Managing Director shall dedicate to the Company and to the Affiliated Companies his full working capacity as well as all of his knowledge and skills. The Managing Director is free to allocate his working time, taking operational needs of the Company into account.
	 	 	 	 
	2.2.	Für jede anderweitige entgeltliche oder unentgeltliche Tätigkeit einschließlich Ehrenämter, Aufsichtsrats-, Beirats- oder ähnliche Mandate ist die vorherige schriftliche Zustimmung der Gesellschafterin oder eines von der Gesellschafterin benannten Vertreters einzuholen. Die Gesellschafterin wird die Zustimmung erteilen, wenn nach ihrer Einschätzung die Interessen der Gesellschaft oder Verbundener Unternehmen durch die Nebentätigkeit nicht beeinträchtigt werden. Die Zustimmung kann zur Sicherung der Interessen der Gesellschaft oder Verbundener Unternehmen mit zeitlichen und/oder inhaltlichen Beschränkungen versehen werden. Eine einmal erteilte Zustimmung ist jederzeit unter Beachtung angemessener Fristen widerruflich, sofern nach Einschätzung der Gesellschafterin die Interessen der Gesellschaft oder Verbundener Unternehmen durch die Nebentätigkeit beeinträchtigt werden können.	2.2.	The assumption of any side activity, whether or not against payment, including honorary appointments, offices in supervisory or advisory bodies or similar mandates shall require the prior written approval of the Company’s shareholder or a representative designated by the shareholder. The shareholder will grant such approval if, according to its own assessment, the interests of the Company or Affiliated Companies are not affected by the side activity. The approval can be made subject to limitations as regards time and/or content to safeguard the interests of the Company or Affiliated Companies. A granted approval can be revoked at any time by observing an adequate notification period, if, according to the shareholder's own assessment, the Company's or Affiliated Company's interests can be negatively affected by the side activity.

 

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	3.	GEHALT	3.	SALARY
	 	 	 	 
	3.1.	Der Geschäftsführer erhält ein jährliches Festgehalt in Höhe von EUR 157.500,00 brutto, das in zwölf gleichen Teilbeträgen am Ende eines jeden Kalendermonats gezahlt wird. Das jährliche Festgehalt wird bei unterjährigem Ein- oder Austritt pro rata temporis gezahlt.	3.1.	The Managing Director shall receive a fixed annual salary of EUR 157,500.00 gross, payable in twelve equal instalments at the end of each calendar month. The fixed annual salary will be paid pro rata temporis for periods amounting to less than a year.
	 	 	 	 
	3.2.	Sämtliche Leistungen des Geschäftsführers für die Gesellschaft und Verbundene Unternehmen, sämtliche Überstunden sowie Samstags-, Sonn- und Feiertagsarbeit sind mit dem Festgehalt nach Ziffer 3.1. abgegolten.	3.2.	All services of the Managing Director for the Company and Affiliated Companies, any overtime work and work on Saturdays, Sundays and holidays are compensated by the fixed salary pursuant to Clause 3.1.
	 	 	 	 
	4.	KRANKHEIT	4.	ILLNESS
	 	 	 	 
	 	Bei einer vorübergehenden Arbeitsunfähigkeit wird das Festgehalt gemäß Ziffer 3.1. für einen Zeitraum von bis zu sechs Wochen entsprechend der gesetzlichen Regelungen des Entgeltfortzahlungsgesetzes (EFZG) gewährt, längstens bis zum Ende des Dienstvertrags. 	 	In the event that the Managing Director is temporarily unable to work, he will continue to receive his fixed salary pursuant to Clause 3.1. for a period of up to six weeks corresponding to statutory rules (German Entgeltfortzahlungsgesetz, EFZG), but not beyond the end of this Service Contract.

 

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	5.	AUSLAGEN	5.	EXPENSES
	 	 	 	 
	 	Reisekosten, Spesen und sonstige im Interesse der Gesellschaft getätigte angemessene Auslagen werden dem Geschäftsführer nach Aufwand gegen Vorlage steuerlich anerkennungsfähiger Belege auf der Basis der jeweils geltenden betrieblichen Regelungen erstattet.	 	The Company will, on the basis of the applicable internal guidelines as amended from time to time, reimburse the Managing Director for any travel expenses and other reasonable expenditures which were spent in the interest of the Company. This will be subject to the provision of receipts suitable for submission for tax purposes.
	 	 	 	 
	6.	DIENSTWAGEN	6.	COMPANY CAR
	 	 	 	 
	6.1.	Die Gesellschaft stellt dem Geschäftsführer zur Erfüllung seiner Aufgaben einen angemessenen Dienstwagen zur Verfügung, dessen Leasingrate plus Versicherungen den Betrag von monatlich EUR 2.400 brutto nicht übersteigt. Der Geschäftsführer ist berechtigt, den Dienstwagen auch privat zu nutzen. Die auf die private Nutzung entfallenden Steuern trägt der Geschäftsführer.	6.1.	The Company shall provide the Managing Director with an adequate company car for the fulfilment of his tasks. and the lease cost plus insurance shall not exceed EUR 2,400 gross per month. The Managing Director is entitled to also use the company car for private purposes. The Managing Director will bear any taxes resulting from the private use of the company car.
	 	 	 	 
	6.2.	Bei Beendigung des Dienstvertrags oder bei Freistellung des Geschäftsführers von seiner Arbeitspflicht ist der Geschäftsführer verpflichtet, den Dienstwagen unverzüglich an die Gesellschaft zurückzugeben. Ein Anspruch auf Entschädigung für die entfallende Privatnutzung besteht nicht. Ein Zurückbehaltungsrecht des Geschäftsführers an dem Dienstwagen besteht ebenfalls nicht.	6.2.	Upon termination of the Service Contract or upon the Managing Director’s release from his work duties, the Managing Director is obligated to immediately return the company car to the Company. A claim to compensation for the ceasing private use does not exist. The Managing Director shall have no right of retention as regards the company car.

 

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	7.	URLAUB	7.	VACATION
	 	 	 	 
	7.1.	Der Geschäftsführer hat Anspruch auf bezahlten Jahresurlaub von 32 Arbeitstagen. Dauer und Zeitpunkt sind jeweils unter Vorrang der geschäftlichen Belange der Gesellschaft in Abstimmung mit den jeweils ernannten weiteren Geschäftsführern und der Gesellschafterin der Gesellschaft festzulegen.	7.1.	The Managing Director will be entitled to 32 days paid annual leave per year. The duration and the time of the vacation shall be determined in agreement with the other managing directors and the Company's shareholder, whereby the business interests of the Company take priority.
	 	 	 	 
	7.2.	Der jährliche Anspruch auf Erholungsurlaub bleibt dem Geschäftsführer bis zum 31. März des Folgejahres erhalten, sofern der Geschäftsführer den Erholungsurlaub aus geschäftlichen Gründen während des Kalenderjahres nicht nehmen kann. Danach verfällt der Urlaubsanspruch aus dem jeweiligen Vorjahr ersatzlos. Eine Urlaubsabgeltung erfolgt nicht.	7.2.	If the Managing Director was unable to take his vacation days during the calendar year due to business reasons, unused vacation days will be carried over until 31 March of the following calendar year. Any vacation days from the previous calendar year not taken by this date shall forfeit without compensation.
	 	 	 	 
	8.	GEHEIMHALTUNG	8.	CONFIDENTIALITY
	 	 	 	 
	8.1.	Der Geschäftsführer hat über alle Betriebs- und Geschäftsgeheimnisse der Gesellschaft sowie Verbundenen Unternehmen sowohl gegenüber Dritten wie auch gegenüber nicht berechtigten Arbeitnehmern der Gesellschaft strengstes Stillschweigen zu bewahren. Betriebs- und Geschäftsgeheimnisse sind alle geschäftlichen, betrieblichen, organisatorischen und technischen Kenntnisse, Vorgänge und Informationen, die nur einem beschränkten Personenkreis zugänglich und die nicht als offenkundig anzusehen sind.	8.1.	The Managing Director undertakes to treat as strictly confidential vis-à-vis third parties and employees of the Company who are not entitled to such knowledge all business and trade secrets of the Company or Affiliated Companies. As business and trade secrets shall be deemed all business, operational, organisational and technical knowledge, processes and information that have been entrusted to the Managing Director or to which he has gained access which cannot be regarded as being common knowledge and which are only accessible to a limited group of people. 

 

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	8.2.	Gleiches gilt für betriebliche Angelegenheiten vertraulicher Natur, die als solche von der Gesellschaft oder Dritten schriftlich gekennzeichnet oder mündlich bezeichnet bzw. offensichtlich als solche zu erkennen sind. Der Begriff der betrieblichen Angelegenheiten vertraulicher Natur beinhaltet insbesondere Handelsinformationen, Know-how, interne Prozesse, die Identität und Anforderungen von Kunden, sowie Informationen, die die Gesellschaft von Dritten unter Verpflichtung zur Vertraulichkeit erlangt hat, des weiteren Strategie- und Finanzplanungen, Finanzdaten, Preisberechnungen, Verkaufs- und Marketingpläne und zugehörige Informationen, jeweils soweit diese nicht bereits Betriebs- oder Geschäftsgeheimnisse darstellen.	8.2.	The same shall apply to any business affairs of a confidential nature that have been identified by the Company or third parties as such in writing or orally or that are clearly discernible as being confidential. The term business affairs of a confidential nature in particular includes trade information, know-how, internal procedures, the identity and requirements of customers as well as information received by the Company from third parties under a duty of secrecy, furthermore strategic and financial planning, financial data, pricing calculations, sales and marketing plans and related information, in each case to the extent that these do not already constitute trade or business secrets.
	 	 	 	 
	8.3.	Von den in den vorstehenden Ziffern 8.1. und 8.2. genannten Verpflichtungen ausgenommen sind lediglich solche Informationen, deren Weitergabe an Dritte zur ordnungsgemäßen Erfüllung der dem Geschäftsführer übertragenen Aufgaben oder zur Erfüllung einer gesetzlichen Pflicht erforderlich oder ihm seitens der Gesellschaft zuvor schriftlich (Textform) gestattet worden ist. Dem Geschäftsführer ist es untersagt, solche Geschäfts- und Handelsgeheimnisse zu seinen Gunsten oder zum Gunsten Dritter zu nutzen. Ist der Geschäftsführer verpflichtet, gegenüber Dritten Geschäfts-/Betriebsgeheimnisse oder betriebliche Angelegenheiten vertraulicher Natur offenzulegen, so wird er dies zuvor der Gesellschaft anzeigen, damit diese eventuell notwendigen Maßnahmen (Stellung eines Rechtsbeistands, Mitteilungen gegenüber Gerichten/Behörden zur Vertraulichkeit etc.) einleiten kann.	8.3.	The only exceptions to Clause 8.1. and 8.2. shall be information that needs to be passed on to third parties for the proper completion of the tasks assigned to the Managing Director or to fulfill a statutory obligation or where the Company has given its written confirmation (in text form) that he may disclose. The Managing Director may also not use such business and trade secrets to his own benefit or to the benefit of a third party. In case of any obligation of the Managing Director to disclose trade or business secrets or business affairs of a confidential nature, the Managing Director undertakes to inform the Company of this obligation in advance, so the Company may implement any required measures (e.g. assignment of legal counsel, information of third parties on the confidentiality etc.).

 

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	8.4.	Soweit die in den Ziffern 8.1. bis 8.3. genannten Verpflichtungen Betriebs- und Geschäftsgeheimnisse im Sinne des UWG betreffen, gelten diese Verpflichtungen auch nach dem Ende des Dienstverhältnisses weiter, bis diese Betriebs- und Geschäftsgeheimnisse offenkundig werden. Im Übrigen gelten die in Ziffer 8.1. bis Ziffer 8.3. genannten Verpflichtungen für eine Dauer von fünf Jahren auch nach dem Ende des Dienstverhältnisses, soweit der Geschäftsführer unter Berücksichtigung der berechtigten Interessen der Gesellschaft nicht unangemessen in seinem beruflichen Fortkommen eingeschränkt oder ganz daran gehindert ist.	8.4.	To the extent the obligations stated in the Clauses 8.1. to 8.3. concern business and company secrets within the meaning of the German Unfair Trade Practices Act (UWG), these obligations shall continue to apply beyond the end of the service relationship until these business and company secrets become common knowledge. Furthermore, the obligations under the Clauses 8.1. to 8.3. shall continue to apply for a duration of five years after the end of the service relationship if the Managing Director is not partly or completely restricted in his professional advancement in consideration of the legitimate interests of the Company.
	 	 	 	 
	8.5.	Der Geschäftsführer wird darauf hingewiesen, dass er bei Verletzung der vorgenannten Pflichten mit einer Kündigung des Dienstverhältnisses bzw. mit Schadensersatz- und/oder Unterlassungsansprüchen der Gesellschaft oder Dritten rechnen muss. Der Verrat bzw. die unberechtigte Verwertung von Betriebs- und/oder Geschäftsgeheimnissen sind gemäß §§ 17, 18 UWG strafbar.	8.5.	The Managing Director is hereby informed that any breach of the aforementioned duties may lead to a termination of the service relationship and/or to damage and injunctive claims of the Company or third parties. Any breach or unlawful use of trade and business secrets constitutes a criminal offence under section 17, 18 of the German Unfair Trade Practices Act (UWG).

 

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	8.6.	Öffentliche Erklärungen, die der Geschäftsführer während oder nach Beendigung dieses Dienstvertrages abgeben will und die die Interessen der Gesellschaft oder Verbundener Unternehmen berühren, bedürfen der vorherigen schriftlichen Zustimmung der Gesellschafterin oder eines von der Gesellschafterin benannten Vertreters. Dies gilt sowohl für den Inhalt der Erklärung als auch für deren Form.	8.6.	Public announcements which the Managing Director wishes to make during or after the end of this Service Contract and which affect the interests of the Company of Affiliated Companies require the prior written approval of the Company’s shareholder or a representative designated by the shareholder. This applies both with respect to the content of the announcement and its form.
	 	 	 	 
	9.	ERFINDUNGEN UND SONSTIGE ARBEITSERGEBNISSE	9.	INVENTIONS AND OTHER WORK RESULTS
	 	 	 	 
	9.1.	Der Geschäftsführer ist verpflichtet, technische Verbesserungsvorschläge und Diensterfindungen (§§ 2-4 Arbeitnehmererfindungsgesetz), welche er allein oder in Zusammenwirken mit anderen gemacht hat, der Gesellschaft unverzüglich, spätestens aber innerhalb von zehn Arbeitstagen, unter Angabe der technischen Aufgabe, der Lösung und des Zustandekommens der Erfindung zu melden. Der Meldung sind vorhandene Aufzeichnungen beizufügen. 	9.1.	The Managing Director shall, without undue delay, at the latest within ten working days, notify the Company in writing of any proposals for technical improvements and of service inventions (Sections 2 to 4 of the German Employer Inventions Act - Arbeitnehmererfindungsgesetz)., he may have made, be it alone or in cooperation with others, stating the technical task, the solution and the way in which the invention arose. Eventual notes shall be attached to the notification.

 

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	9.2.	Der Geschäftsführer überträgt bereits jetzt der Gesellschaft unentgeltlich sämtliche Rechte an diesen technischen Verbesserungsvorschlägen und Erfindungen, einschließlich des Rechts, weltweit entsprechende Patente und/oder Gebrauchsmuster in eigenem Namen anzumelden. Der Geschäftsführer verpflichtet sich, die Gesellschaft auf Aufforderung bei der Anmeldung von entsprechenden Patenten und/oder Gebrauchsmustern zu unterstützen.	9.2.	The Managing Director transfers to the Company free of charge any and all rights pertaining to these technical improvements and service inventions, including the worldwide right to register corresponding patents and/or utility models in his own name. The Managing Director shall support the Company upon request in any such registrations of patents and/or utility models. 
	 	 	 	 
	9.3.	Der Geschäftsführer hat jegliche Handlungen zu unterlassen, welche der Erlangung eines Schutzrechts durch die Gesellschaft entgegenstehen können. 	9.3.	The Managing Director shall refrain from any action detrimental to the obtainment of an intellectual property right by the Company. 
	 	 	 	 
	9.4.	Für alle nach dem Urheberrecht schutzfähigen Arbeitsergebnisse, die der Geschäftsführer während der Dauer dieses Dienstvertrags mit Bezug zu ihren Aufgaben innerhalb und außerhalb der Arbeitszeit erstellt, überträgt er der Gesellschaft das ausschließliche, zeitlich, räumlich und inhaltlich unbeschränkte Nutzungs- und Verwertungsrecht für alle Nutzungsarten. 	9.4.	To all work results that can be protected under copyright law which the Managing Director achieves on and off-time during the term of this Service Contract and which are related to the duties under this Service Contract, the Managing Director transfers to the Company the exclusive, unrestricted (with regard to time and content; as well as applying worldwide) right of use and exploitation in all exploitation methods and manners of use. 
	 	 	 	 
	9.5.	Der Geschäftsführer verzichtet auf sonstige ihm als Urheber zustehenden Rechte an den Arbeitsergebnissen, insbesondere auf das Recht auf Namensnennung, auf Bearbeitung und auf Veröffentlichung, mit Ausnahme der Rückrufsrechte. Das Rückrufsrecht wegen Nichtbenutzung wird er jedoch für fünf Jahre nicht ausüben. Die Gesellschaft ist zur Nutzung und Verwertung der übertragenen Rechte nicht verpflichtet. 	9.5.	The Managing Director waives any right he may have as to the work results in his capacity as creator, especially the right of being named, the right to adapt and to publish the work, but not including the right to call back. However, he will not exercise his right to call back due to lack of exploitation within five years. The Company is not obliged to make use of or to exploit the rights assigned. 

 

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	9.6.	Der Geschäftsführer versichert, dass er über die übertragenen Rechte nicht bereits anderweitig verfügt hat und nicht verfügen wird. Die Einräumung von Rechten nach Ziffer 9.2. und 9.4. und der Verzicht auf Rechte gemäß Ziffer 9.5. sind mit der Vergütung nach Ziffer 3.1. abgegolten.	9.6.	The Managing Director guarantees that he has not assigned the rights to any other third party and that he will not do so in the future. The remuneration according to Clause 3.1. shall cover the assignment of rights pursuant to Clause 9.2. and 9.4. and the waiver of rights pursuant to clause 9.5.
	 	 	 	 
	10.	DATENSCHUTZ	10.	DATA PROTECTION
	 	 	 	 
	10.1.	Der Geschäftsführer willigt ein, dass seine personenbezogenen Daten unter Beachtung der gesetzlichen Vorschriften und im Rahmen der Zweckbestimmung des Dienstverhältnisses zur Personalplanung und -verwaltung gespeichert und verarbeitet werden können.	10.1.	The Managing Director agrees to his personal information being stored and processed for human resources planning and administration in accordance with the statutory provisions and the purposes of the service relationship.
	 	 	 	 
	10.2.	Zur Wahrung des Datengeheimnisses nach § 5 Bundesdatenschutzgesetz unterzeichnet der Geschäftsführer eine gesonderte Erklärung. Diese Verpflichtung auf das Datengeheimnis gilt auch nach Beendigung des Dienstverhältnisses fort.	10.2.	The Managing Director will sign a separate declaration to maintain data confidentiality as provided in section 5 of the Federal Data Protection Act (Bundesdatenschutzgesetz). This confidentiality obligation will remain in effect after termination of the service relationship.
	 	 	 	 
	11.	LAUFZEIT / KÜNDIGUNG / ABBERRUFUNG	11.	CONTRACT TERM / NOTICE / REMOVAL

 

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	11.1.	Dieser Dienstvertrag beginnt am 23 January 2018 und wird auf unbestimmte Zeit geschlossen. 	11.1.	This Service Contract shall be effective as of 23 January 2018 and is concluded for an indefinite period of time. 
	 	 	 	 
	11.2.	Beide Parteien können diesen Vertrag mit einer Frist von sechs (6) Monaten zum Monatsende kündigen. 	 	The contract may be terminated by either party giving six (6) months notice with effect to the end of a calendar month.
	 	 	 	 
	11.3.	Das beiderseitige Recht zur Kündigung dieses Dienstvertrages aus wichtigem Grund bleibt unberührt. Als wichtiger Grund gilt insbesondere ein Verstoß des Geschäftsführers gegen ihm auferlegte Beschränkungen der Geschäftsführungsbefugnis/Zustimmungsvorbe-halte, gegen das Wettbewerbs- oder das Abwerbeverbot oder die Nichtbeachtung von Weisungen der Gesellschafterin seitens des Geschäftsführers.	11.3.	The right of either party to terminate this Service Contract for important reasons (cause) remains unaffected. In particular, an important reason shall be deemed to exist if the Managing Director is in breach with the limitations of his management authority/consent requirements, the prohibition of competition or of enticement or if the Managing Director does not comply with instructions of the shareholder.
	 	 	 	 
	11.4.	Die Bestellung zum Geschäftsführer kann durch Beschluss der Gesellschafter jederzeit widerrufen werden (Abberufung). 	11.4.	The appointment as Managing Director may be revoked at any time by means of a resolution taken by the shareholders (removal). 
	 	 	 	 
	11.5.	Jede Kündigung bedarf der Schrift- oder Textform nach den Regelungen des Bürgerlichen Gesetzbuchs (BGB).	11.5.	Any notice of termination must be given in writing or in text form according to the German Civil Code. 
	 	 	 	 
	12.	FREISTELLUNG	12.	RELEASE FROM WORK
	 	 	 	 
	12.1	Nach einer Abberufung oder Amtsniederlegung durch den Geschäftsführer oder im Falle einer sonstigen Beendigung des Amts als Geschäftsführer ist die Gesellschaft berechtigt, den Geschäftsführer jederzeit unter Fortzahlung des Festgehalts gemäß Ziffer 3.1. bis zur rechtlichen Beendigung des Dienstverhältnisses widerruflich oder unwiderruflich von der Pflicht zur Arbeitsleistung freizustellen.	12.1.	In case of a revocation of the Managing Director's appointment, of a resignation from office by the Managing Director himself or of any ending of the Managing Director's office, the Company is entitled to revocably or irrevocably release the Managing Director from his further activities for the Company during the remaining term of this Service Contract. In case of release, the Managing Director shall be entitled to continued remuneration pursuant to Clause 3.1. of this Service Contract.

 

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	12.2.	Das vertragliche Wettbewerbsverbot wird durch eine Freistellung nicht berührt. Jedweder anderweitiger Erwerb, der unter Verletzung des vertraglichen Wettbewerbsverbots erzielt wird, ist auf die vertragliche Vergütung anzurechnen. Dies gilt – abweichend von vorstehender Ziffer 12.2. – unabhängig von etwaigen Urlaubsansprüchen. Die Geltendmachung von Schadensersatzansprüchen durch die Gesellschaft wegen der Verletzung des vertraglichen Wettbewerbsverbots bleibt unberührt.	12.2.	The contractual prohibition of competition shall continue to apply during the release from the duty to work. Any income earned by the Managing Director through a violation of the contractual prohibition of competition shall be credited against the contractual remuneration. This shall – deviating from Clause 12.2. – apply irrespective of any vacation claims. The Company’s right to claim damages based on the violation of the contractual prohibition of competition shall remain unaffected.
	 	 	 	 
	13.	EIGENTUM, RÜCKGABE VON GEGENSTÄNDEN UND UNTERLAGEN, LÖSCHUNG VON KOPIEN	13.	OWNERSHIP, RETURN OF ITEMS AND DOCUMENTS, DELETING COPIES
	 	 	 	 
	13.1.	Alle dem Geschäftsführer zur Verfügung gestellten Gegenstände sowie alle die Gesellschaft berührenden Unterlagen und Daten der Gesellschaft, unabhängig davon, wer diese erstellt hat und in welcher Form oder auf welchen Datenträgern, verbleiben im Eigentum der Gesellschaft. Der Geschäftsführer verpflichtet sich, geschäftliche Unterlagen und Daten aller Art, einschließlich der sich auf dienstliche Angelegenheiten und Tätigkeiten beziehenden persönlichen Aufzeichnungen, sorgfältig aufzubewahren und vor dem Zugriff unbefugter Dritter zu schützen. 	13.1.	All objects and all documents affecting the Company and all data belonging to the Company, irrespective of who has created them and in which design or on which data medium, made available to the Managing Director shall remain property of the Company. The Managing Director undertakes to carefully store and to safeguard against unauthorized access by third parties any business documents and data, including his personal notes on business matters or tasks.

 

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	13.2.	Auf Verlangen der Gesellschaft und spätestens bei Beendigung dieses Dienstvertrages oder im Falle einer durch die Gesellschaft erfolgten Freistellung des Geschäftsführers hat dieser unverzüglich sämtliche Gegenstände, Unterlagen und Daten der Gesellschaft einschließlich etwaiger Abschriften oder Kopien, welche sich in seinem Besitz befinden, vollständig an die Gesellschaft herauszugeben und elektronisch gespeicherte Kopien hiervon zu löschen. Gleiches gilt für Gegenstände, Unterlagen und Daten, die der Geschäftsführer im Rahmen seiner Tätigkeit selbst erstellt oder von Dritten erhalten hat.	13.2.	Upon the Company's request and, at the latest, upon the termination of this Service Contract or the Managing Director's release from work, the Managing Director shall return to the Company without undue delay any and all items, documents and data in his possession belonging to the Company, including reproductions and copies, and delete any electronic copies thereof. The same applies to objects, documents and data created by the Managing Director or received from third parties in the course of his employment.
	 	 	 	 
	13.3.	Über die Vollständigkeit der Herausgabe derartiger Gegenstände, Unterlagen und Daten sowie das Löschen der Kopien hat der Geschäftsführer der Gesellschaft auf Verlangen eine schriftliche Erklärung abzugeben.	13.3.	Upon request by the Company, the Managing Director must provide the Company with a written statement confirming that all such items, documents and data have been returned and any electronic copies have been deleted.
	 	 	 	 
	13.4.	Die Geltendmachung von Gegenansprüchen oder eines Zurückbehaltungsrechts durch den Geschäftsführer ist ausgeschlossen.	13.4.	Any right of the Managing Director to assert counterclaims or exercise rights of retention is hereby excluded.
	 	 	 	 
	14.	VERTRAGLICHES WETTBEWERBSVERBOT	14.	CONTRACTUAL PROHIBITION OF COMPETITION

 

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	14.1.	Dem Geschäftsführer ist es untersagt, während der Dauer des Dienstverhältnisses in selbständiger, unselbständiger oder sonstiger Weise (z.B. als Mitarbeiter, Selbständiger, Berater oder Geschäftsführer) für ein Unternehmen tätig zu werden, welches mit der Gesellschaft oder einem Verbundenen Unternehmen in direktem oder indirektem Wettbewerb steht. In gleicher Weise ist es dem Geschäftsführer untersagt, während der Dauer dieses Dienstvertrages ein solches Wettbewerbsunternehmen, unmittelbar oder mittelbar, zu errichten, zu erwerben oder sich hieran finanziell zu beteiligen. Letzteres gilt nicht für Beteiligungen in Höhe von weniger als zwei Prozent des gezeichneten Kapitals.	14.1.	During the period of the service relationship, the Managing Director shall not become active, be it on a self-employed or dependent basis or otherwise (e.g. as an employee, on a self-employed basis, as an advisor or managing director), for an enterprise that is, directly or indirectly, in competition with the Company or any of its Affiliated Companies. Likewise, the Managing Director is prohibited from, directly or indirectly, establishing, acquiring or participating financially in such a competing enterprise. The prohibition to participate financially does not apply if the participation amounts to less than 2% of the nominal capital.
	 	 	 	 
	14.2.	Im Falle des Verstoßes gegen das Wettbewerbsverbot in Ziffer 14.1. ist der Geschäftsführer zur Herausgabe des durch den Verstoß erzielten Erlöses an die Gesellschaft verpflichtet. Die Gesellschaft ist berechtigt, Unterlassung des Verstoßes gegen das Wettbewerbsverbot zu verlangen und/oder eine Kündigung aus wichtigem Grund auszusprechen.	14.2.	In the event that the Managing Director does not comply with the prohibition of competition pursuant to Clause 14.1. he is obliged to pay to the Company any revenues resulting from the breach of the prohibition of competition. The Company is entitled to demand compliance with the prohibition of competition and/or to serve notice of termination for cause.
	 	 	 	 
	15.	NACHVERTRAGLICHES WETTBEWERBSVERBOT	15.	POST-CONTRACTUAL PROHIBITION OF COMPETITION
	 	 	 	 
	15.1.	Für die Dauer von 12 Monaten nach dem rechtlichen Ende des Dienstverhältnisses verpflichtet sich der Geschäftsführer, nicht in selbständiger, unselbständiger oder sonstiger Weise (z.B. als Mitarbeiter, Selbständiger, Berater oder Geschäftsführer) für ein anderes Unternehmen tätig zu werden, welches mit der Gesellschaft oder Verbundenen Unternehmen in direktem oder indirektem Wettbewerb steht. In gleicher Weise ist dem Geschäftsführer untersagt, ein solches Wettbewerbsunternehmen, unmittelbar oder mittelbar, zu errichten, zu erwerben oder sich hieran finanziell zu beteiligen. Letzteres gilt nicht für Beteiligungen in Höhe von weniger als fünf Prozent des gezeichneten Kapitals. Das nachvertragliche Wettbewerbsverbot bezieht sich räumlich auf Tätigkeiten in der Bundesrepublik Deutschland. 	15.1.	For a period of 12 months after the service relationship has legally ended, the Managing Director shall not be active for an enterprise that directly or indirectly competes with the Company or any of its Affiliated Companies, be it on a self-employed or dependent basis or otherwise (e.g. as an employee, on an self-employed basis, as an advisor or managing director). Likewise, the Managing Director is prohibited from, directly or indirectly, establishing, acquiring or participating financially in such a competing enterprise. The prohibition to participate financially does not apply if the participation amounts to less than 5% of the nominal capital. This post-contractual prohibition of competition is geographically restricted to activities carried out in the Federal Republic of Germany. 

 

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	15.2.	“Wettbewerb” im Sinne dieser Ziffer 15 wird definiert durch den Geschäftsbetrieb der Gesellschaft und der Verbundenen Unternehmen zum Zeitpunkt des Ausscheidens des Geschäftsführers und in den zwei Jahren davor insoweit, als der Geschäftsführer zu Angelegenheiten dieses Geschäftsbetriebs Zugang hatte oder mit der Wahrnehmung der Interessen der Gesellschaft oder Verbundener Unternehmen in diesem Geschäftsbetrieb betraut war. 	15.2.	“Competition“ within the meaning of this Clause 15. shall be defined by the business of the Company or any of its Affiliated Companies at the time of the Managing Director leaving the Company and in the two years preceding his leaving the Company, insofar as the Managing Director was privy to matters concerning the business operations or was entrusted with safeguarding the interests of the Company or Affiliated Companies as regards its business operations. 
	 	 	 	 
	15.3.	Für die Dauer des nachvertraglichen Wettbewerbsverbots verpflichtet sich die Gesellschaft, dem Geschäftsführer monatlich 50 % des von ihm zuletzt bezogenen monatlichen Festgehalts zu zahlen. Während der Verbotsdauer ist der Geschäftsführer verpflichtet, der Gesellschaft zum Abschluss jedes Kalendervierteljahres die Höhe seiner anderweitigen Einkünfte (nach Abzug von Betriebs- und Werbungskosten) nachzuweisen. Wenn und solange der Geschäftsführer dieser Verpflichtung nicht nachkommt, entfällt der Anspruch auf die Karenzentschädigung. 	15.3.	For the term of the post-contractual prohibition of competition, the Company undertakes to pay the Managing Director on a monthly basis a compensation in the amount of 50% of his last monthly fixed salary. For the duration of the prohibition, the Managing Director shall proof to the Company the total amount of his other income (after deduction of operating costs and income-related expenses). If, and as long as the Managing Director does not meet this obligation, he shall not be entitled to compensation. 

 

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	15.4.	Auf die Entschädigung gemäß Ziffer 17.5. sind entsprechend § 74 c HGB diejenigen Einkünfte anzurechnen, die der Geschäftsführer während der Dauer des nachvertraglichen Wettbewerbsverbotes aus selbständiger, unselbständiger oder sonstiger Erwerbstätigkeit erzielt oder zu erzielen unterlässt. Zu den anzurechnenden Einkünften zählt auch ein ggf. vom Geschäftsführer bezogenes Arbeitslosengeld. 	15.4.	During the term of the post-contractual prohibition of competition, other income shall be credited against the compensation under Clause 15.3. according to Sec. 74c German Commercial Code (Handelsgesetzbuch). This shall apply to any income resulting from any gainful employment be it on a self-employed or dependent basis or other activities or any income that he maliciously fails to acquire. In addition, any unemeployment benefits shall be credited as well.
	 	 	 	 
	15.5.	Die Gesellschaft kann jederzeit vor dem rechtlichen Ende des Dienstverhältnisses, durch schriftliche Erklärung auf das nachvertragliche Wettbewerbsverbot verzichten. In diesem Fall wird die Gesellschaft mit Ablauf von sechs Monaten seit der Verzichtserklärung von ihrer Verpflichtung zur Zahlung einer Karenz-entschädigung nach Ziffer 15.3. frei. 	15.5.	The Company may, at any time prior to the legal end of the service relationship, waive the post-contractual prohibition of competition by way of a written declaration. In such case, the Company shall be released from its obligation to make a compensation payment as per Clause 15.3. upon the expiry of six months from issuing such waiver. 

 

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	15.6.	Im Falle einer außerordentlichen Kündigung des Dienstvertrages steht dem Kündigungsberechtigten das Recht zu, innerhalb eines Monats nach Zugang der außerordentlichen Kündigung aus wichtigem Grund gegenüber dem anderen Teil schriftlich zu erklären, dass er sich an das nachvertragliche Wettbewerbsverbot nicht mehr gebunden fühlt. In diesem Fall wird die Gesellschaft von der Verpflichtung zur Zahlung der Karenzentschädigung nach Ziffer 15.3. frei.	15.6.	In the case of a summary termination for good cause, the party terminating the Service Contract for good cause may, within one month of receipt of the notice for good cause serve a written statement to the other party, declaring that the post-contractual prohibition of competition shall no longer be binding. If such a declaration is issued, the Company shall be released from its obligation to make a compensation payment as per Clause 15.3.
	 	 	 	 
	15.7.	Im Übrigen gelten die Vorschriften der §§ 74 ff. HGB entsprechend, insbesondere § 74a HGB (geltungserhaltende Reduktion).	15.7.	In all other cases, the provisions of Sec. 74 et seq. of the German Commercial Code shall apply mutatis mutandis, in particular Sec. 74a German Commercial Code (partial retention).
	 	 	 	 
	15.8.	Wird dieser Dienstvertrag wegen Eintritt in den Ruhestand, wegen Berufsunfähigkeit oder nach Erreichen des gesetzlichen Renteneintrittsalters beendet, tritt das nachvertragliche Wettbewerbsverbot nicht in Kraft.	15.8.	The post-contractual prohibition of competition shall not apply in the case of a termination of the service relationship due to retirement, occupational incapacity or after the Managing Director reaches the statutory pension age. 
	 	 	 	 
	15.9.	
        Für jede Handlung, durch
die der Geschäftsführer das nachvertragliche Wettbewerbsverbot schuldhaft verletzt, hat der Geschäftsführer
der Gesellschaft eine Vertragsstrafe in Höhe von 1/12-tel des zuletzt bezogenen festen Jahresgehalts zu zahlen. Zugleich
entfällt für den Monat, in dem die Zuwiderhandlung erfolgt ist, eine etwaige Pflicht der Gesellschaft zur Zahlung der
Karenzentschädigung nach Ziffer 15.3.
	15.9.	
        For each action resulting in the
culpable breach of the post-contractual prohibition of competition, the Managing Director shall pay to the Company a contractual
penalty in the amount of 1/12 of his fixed annual gross salary. At the same time the Company’s obligation to pay a compensation
under Clause 15.3. lapses for the month the breach of the post-contractual prohibition of competition occurs.

        

 

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	 	Für die Verwirkung der Vertragsstrafe
gilt folgendes: Besteht der Verstoß in der Errichtung oder dem Erwerb eines Wettbewerbsunternehmens oder der Beteiligung
an einem Wettbewerbsunternehmen oder in der Eingehung, Durchführung oder Unterstützung eines Dauerschuldverhältnisses
(insbesondere eines Arbeits-, Dienst-, Berater- oder Vertreterverhältnisses), liegt ein Dauerverstoß vor. Bei einem
Dauerverstoß wird die Vertragsstrafe, solange der Dauerverstoß rechtlich besteht, für jeden angefangenen Kalendermonat
neu verwirkt. Handelt es sich um mehrere einzelne Verstöße, wird die Vertragsstrafe jeweils gesondert verwirkt, auch
innerhalb eines Kalendermonats; soweit einzelne Verstöße jedoch im Rahmen eines Dauerverstoßes erfolgen, sind
diese von der für den Dauerverstoß verwirkten Vertragsstrafe umfasst. Bei der Verwirkung mehrerer Vertragsstrafen in
einem Kalendermonat ist der Gesamtbetrag der zu zahlenden Vertragsstrafen auf sechs Zwölftel des jährlichen Bruttofestgehalts
beschränkt.

 

Die Geltendmachung eines über die Vertragsstrafe hinausgehenden Schadens durch die Gesellschaft bleibt
unberührt. Dies gilt ebenfalls für die Geltendmachung sonstiger Ansprüche aufgrund der Verletzung des nachvertraglichen
Wettbewerbsverbots.

	 	For the forfeiture of the contractual penalty
the following shall apply: if the breach consists of setting up, acquiring or holding an interest in a competing company or entering
into, implementing or supporting a contract for the performance of a continuing obligation (e.g. an employment, service, consultancy
or agency contract), an ongoing breach exists. In the case of an ongoing breach, the contractual penalty shall be forfeited anew
for each full or partial month as long as the ongoing breach legally exists. If multiple individual breaches exist, the contractual
penalty is forfeited separately, also within one calendar month; however, if individual breaches occur within the scope of an ongoing
breach, they shall be covered by the contractual penalty owed for the ongoing breach. Where several contractual penalties are forfeited
in one calendar month, the total amount of the contractual penalties to be paid shall be limited to 6/12 of the fixed annual gross
salary.

 

The assertion of damages over and above the contractual penalty
by the Company shall remain unaffected. The same shall apply to the assertion of any other claims arising from the breach of the
post-contractual prohibition of competition.

 

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	16.	ABWERBEVERBOT	16.	NON-SOLICITATION
	 	 	 	 
	 	Der Geschäftsführer verpflichtet sich, während der Laufzeit des Dienstverhältnisses und für die Dauer des nachvertraglichen Wettbewerbsverbots weder direkt noch indirekt für sich oder für Dritte Angestellte der Gesellschaft oder Verbundener Unternehmen abzuwerben.	 	The Managing Director undertakes for the period of the service relationship and for the term of the post-contractual prohibition of competition, not to entice away or hire, either directly or indirectly, employees of the Company or Affiliated Companies for himself or for third parties.
	 	 	 	 
	17.	WOHLVERHALTEN	17.	GOOD CONDUCT
	 	 	 	 
	 	Beide Seiten verpflichten sich, während der Dauer des Dienstverhältnisses und auch nach dessen Beendigung negative Behauptungen über die jeweils andere Seite zu unterlassen.	 	Both parties undertake to refrain from negative statements against each other during the period of the service relationship as well as after the termination of the service relationship.
	 	 	 	 
	18.	AUSKUNFTSPFLICHT	18.	DUTY OF DISCLOSURE
	 	 	 	 
	 	Der Geschäftsführer erklärt sich damit einverstanden, während einer etwaigen Freistellung und auch nach der Beendigung des Dienstverhältnisses Nachfragen der Gesellschaft im Zusammenhang mit seiner Tätigkeit nach bestem Wissen zu beantworten und die Gesellschaft im Rahmen des Zumutbaren auch in allen weiteren Angelegenheiten, die im Zusammenhang mit seiner Tätigkeit stehen, zu unterstützen (z.B. bei internen Ermittlungen oder Rechtsstreitigkeiten mit Dritten). Die Parteien sind sich darüber einig, dass hinsichtlich der Beantwortung entsprechender Anfragen und der sonstigen Unterstützung der Gesellschaft kein gesonderter Vergütungsanspruch besteht.	 	In the event of a release from the duty to work as well as after the termination of the service relationship, the Managing Director agrees to respond to requests of the Company with respect to his work to the best of his knowledge and to support the Company with reasonable efforts with respect to any other matters related to his work for the Company (e.g. internal investigations or legal disputes with third parties). The parties agree that the Managing Director is not entitled to any further remuneration with respect to any answers or support given by the Managing Director to the Company.

 

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	19.	ABSCHLIESSENDE VEREINBARUNG, SCHRIFTFORM, SALVATORISCHE KLAUSEL, ANWENDBARES RECHT	19.	FINAL PROVISIONS, WRITTEN FORM, SALVATORY CLAUSE, APPLICABLE LAW
	 	 	 	 
	19.1.	Dieser Dienstvertrag enthält sämtliche Vereinbarungen der Parteien hinsichtlich der Bestimmungen und Bedingungen des Dienstverhältnisses. Er ersetzt alle etwaigen früheren Vertragsverhältnisse, Vereinbarungen oder sonstige vertraglichen Abreden. (Mündliche) Nebenabreden sind nicht getroffen.	19.1.	This Contract contains all agreements between the Parties regarding the terms and conditions of the service relationship. It replaces any previous contractual relationships, agreements or other contractual understandings. No (oral) side agreements have been made.
	 	 	 	 
	19.2.	Änderungen oder Ergänzungen dieses Dienstvertrags bedürfen zu ihrer Rechtswirksamkeit der Schriftform und der Zustimmung der Gesellschafter, sofern sie nicht auf einer ausdrücklichen oder einer individuell ausgehandelten Abrede beruhen. Dies gilt ausdrücklich auch für die Änderung und Aufhebung dieser Schriftformklausel.	19.3.	Unless resulting from an agreement expressly made or individually negotiated, any modifications of or additions to this Service Contract shall be made in writing to be valid. This shall also apply expressly to any change or termination of this written form clause.
	 	 	 	 
	19.3.	Sollte eine Bestimmung dieses Dienstvertrages rechtsunwirksam sein oder werden, so wird die Geltung der übrigen Bestimmung dieses Dienstvertrages hierdurch nicht berührt. Die Parteien sind in einem solchen Fall verpflichtet, die rechtsunwirksamen Bestimmungen durch eine Regelung zu ersetzen, welche dem wirtschaftlich verfolgten Zweck der ungültigen Bestimmung am nächsten kommt. Das gleiche gilt im Fall einer Regelungslücke.	19.4.	If any provision of this Service Contract is or becomes invalid, the other provisions of this Service Contract shall remain in full force and effect. In such case, the parties are obligated to agree on a provision, which comes closest to what was economically intended under such invalid provision. This shall also apply in the case of a gap.

 

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	19.4.	Dieser Dienstvertrag unterliegt dem Recht der Bundesrepublik Deutschland. Allein die deutsche Fassung ist maßgeblich.	19.5.	This Service Contract shall be governed by the laws of the Federal Republic of Germany. Only the German version shall be binding.
	 	 	 	 
	 	USA, 23 January 2018	 	23 January 2018
	 	(Ort/Place, Datum/Date)	 	(Ort/Place, Datum/Date)
	 	 	 	 
	 	/s/ Jacob Pearlstein	 	/s/ Dr. Rainer Mathes
	 	
        Jacob Pearlstein,

         

        für / for Canyon UK Investments,
        Ltd als alleinige Gesellschafterin der / as the sole shareholder of Cision Germany GmbH
	 	Dr. Rainer Mathes

 

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