Document:

Exhibit

Exhibit 10.25

SEPARATION AGREEMENT AND GENERAL RELEASE
This Separation Agreement and General Release (this “Agreement”) is entered into by and between Michael Stitt (“Employee”) and Travelzoo (“Employer”) (collectively referred to herein as “the Parties”).  

I.
RECITALS
1.1.    Employee is employed by Employer in the position of President, North America pursuant to a written employment agreement dated September 30, 2015 (the “Employment Agreement”).
1.2.    Pursuant to the provisions of the Employment Agreement, Employee and Employer agreed on October 19, 2018 that employment with Employer will terminate and that Employee’s services will no longer be required effective on October 19, 2018 (“Termination Date”).  Employee shall receive his salary and any unused vacation time through the Termination Date, less deductions required by law, in accordance with Employer’s customary payroll practices. 
1.3.    In consideration of Employee’s service, to assist in his transition to new employment and for a broad release of all claims against Employer, Employer is hereby offering Employee severance pay, subject to the terms and conditions set forth below.
ACCORDINGLY, in consideration of the terms, conditions and agreements set forth below, Employer and Employee agree as follows:
II.
                                            AGREEMENTS

            2.1.    Severance Payment.  Subject to Employee’s execution and fulfillment of Employee’s obligations, promises and covenants contained in this Agreement (as well as the Employment Agreement as referenced herein), Employer will pay Employee an additional six (6) months’ salary, less applicable taxes and withholdings (“Severance Payment”) to be paid following the end of the Revocation Period set forth in Section 2.18 of this Agreement, in accordance with Employer’s customary payroll practices. Employee acknowledges that such payment is more than Employer is required to pay under its normal policies and procedures and its contractual arrangements with Employee. 
2.2    Benefits.  Employer will pay the Employer portion of Employee’s group health insurance through the Termination Date and the Employer portion of COBRA payments for a 

period of six (6) months following the Termination Date. Employer will not contest Employee’s eligibility for unemployment benefits after the Termination Date.
2.3     Non‐Disparagement.  Employee agrees that he will not directly or indirectly, publish or disseminate to the media or any individual or entity information that is critical, derogatory or otherwise intended to disparage Employer or Employer’s business, senior executives or officers, whether such information is acquired during or after his employment with Employer.  In addition, Employee agrees that he will not make any remarks which may damage or discredit the reputation of Employer’s products, or otherwise adversely affect the goodwill of its business, or be harmful to its business relationships. 
Employer agrees that in response to all employment reference checks concerning Employee, Employer will confirm the dates of employment, title, and rate of pay of Employee and provide no additional information with regard to employee references, in accordance with Employer’s policy.

2.4    General Release.  To the broadest extent permissible under applicable law, Employee, on behalf of himself,  his heirs, spouse, dependents, estate, executors, administrators, successors and assigns, unconditionally and absolutely releases and forever discharges the Employer, its parent, subsidiaries and affiliates, and each of their respective past, present and future shareholders, officers, directors, employees, agents, insurers, attorneys and any affiliated or related entities, and their respective successors and assigns (“Released Parties”), from all claims, demands, disputes, charges, actions, rights, damages, costs, losses, liabilities, expenses, suits of any type (whether in law or equity), compensation and/or other legal responsibilities, known or unknown, of any kind, which Employee may have prior to the date of Employee’s execution of this Agreement or which are in any way based on, arise from, are in connection with, or pertain to Employee’s employment with Employer or the termination of that employment.  The release of claims under this section is intended to be as broad as the law allows.  The rights and claims released by this Agreement include, but are not limited to, all claims of whatever kind or nature that may exist relating to, arising out of or in connection with Employee’s employment or the termination of such employment (including, but not limited to any of Employer’s actions which led to his termination), whether such claims are presently known or are hereafter discovered or whether they are foreseen or unforeseen as of the date hereof.  This release applies, without limitation, to all such claims arising under any federal, state, common law or local law, including but not limited to any and all claims for employment discrimination, harassment or retaliation under the Age Discrimination in Employment Act (including the Older Worker Benefit Protection Act), Title VII of the Civil Rights Act of 1964, as amended, the Fair Labor Standards Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, the Workers Adjustment and Retraining Notification Act; the Sarbanes-Oxley Act, the Americans with Disabilities Act of 1990, the New York Human Rights Law, the New York City Human Rights Laws, the New York Aids Testing Confidentiality Act, the New York Equal Pay Law, the New York Persons With Disabilities Law, Civil Rights Law, the New York Genetic Testing Confidentiality Law, the New York Nondiscrimination Against Genetic Disorders Law, the New York Smokers’ Rights Law, the New York Equal Rights Law, the New York Discrimination by Employment Agencies Law, the New York Bone Marrow Leave Law, the New York Adoptive Parents Child Care Leave Law, the New York Cancer Victim Bias Law, Article 1, Section 11 of the New York State Constitution; N.Y. Workers’ Compensation Law, or any other applicable state, federal or local statute or regulation.  Employee further agrees and acknowledges that the claims released by Employee include, but are not limited to, any 

claim, however styled, for stock options, any type of compensation, wages, bonuses, commissions, expenses, benefits, penalties, damages of any kind, interests, attorneys’ fees or costs.  Employee also intends by this Release to give up any rights under the common law, or any and all claims arising under tort or contract law, including, but not limited to, any claim for intentional or negligent infliction of emotional distress, physical injury, fraud, defamation, slander, libel, invasion of privacy, wrongful discharge, retaliation, wrongful termination, violation of any public policy or statute, tortious interference with a contract or prospective business advantage, breach of covenant of good faith and fair dealing, promissory estoppel, detrimental reliance, breach of any implied or express contract, whether written or oral, between Employer and Employee or any policy of the Employer and any remedy for any such claim or breach. Employee certifies that as of the date of this Release, he has reported all accidents, injuries or illnesses relating to or arising from his employment with the Employer.
2.5    Unknown Claims.  Employee understands that the release set forth in section 2.4 above includes claims which Employee knows about and claims Employee may not know about.  Employee understands and agrees that this Agreement extends to all claims of every nature and kind whatsoever, known or unknown, suspected or unsuspected, past or present, and all rights under Section 1542 of the California Civil Code are hereby expressly waived.  Employee expressly waives any rights under California Civil Code section 1542 which provides as follows:
A general release does not extend to claims which the creditor does not know or suspect to exist in hIS favor at the time of executing the release which if known by him must have materially affected hIS settlement with the debtor.
For purposes of Section 1542, “creditor” refers to Employee and “debtor” refers to the Released Parties.
2.6    Claims Not Affected by Release.  This Release does not affect Employee’s right to apply for continuation or conversion of insurance coverage to the extent that the Employer’s insurance plans or applicable law provide for such continuation or conversion, or to any claim for disability or unemployment compensation to which Employee is entitled by law.  This Release does not prohibit the filing of a charge with or participating in an investigation by the Equal Employment Opportunity Commission (EEOC) or any other federal, state or local government agency, but does prohibit any award of damages to Employee or any other financial recovery by Employee.  This Release also does not apply to those claims that may not be legally waived or released under applicable federal, state or local law. 

2.7    Agreement Not to Sue and Warranty.  Employee promises that he has not and will not file any suit, charge, complaint, grievance, action or other proceeding with any federal, state or local agency, court, organization, arbitrator, judicial forum or other tribunal asserting any claim that is released in section 2.4 above, and warrants that he has not assigned to any other person or entity the right to file any claims that are released in section 2.4 above, nor will he permit any person, group of persons, or organization to take such action on his behalf.
2.8    Non‐Admissions.  It is understood that by offering or entering into this Agreement, neither Employee nor Employer has admitted any liability or wrongdoing whatsoever.  No final findings or final judgments have been made and Employee does not purport and will not claim to be prevailing party, to any degree or extent, nor will this Agreement or its 

terms be admissible in any proceeding other than a proceeding for breach of the terms contained herein.
2.9    Return of Property.  During employment, Employee acknowledges that he was entrusted with access to confidential Company information concerning such things as the identities, needs and preferences of customers and prospects, financial reports, business plans, sales and marketing strategies, product designs and specifications, personnel files, and other proprietary information belonging to the Company. Employee promises to keep all such information confidential and not to use or disclose it for any purpose after termination.  Employee also agrees to return all of Employer’s property, including all work in progress, files, photographs, notes, records, credit cards, keys, access cards, computer, and other company or customer documents, products or property which he has received in the course of his employment, or which reflect in any way any confidential or proprietary information of Employer.  For the avoidance of doubt, Employee agrees to return all of Employer’s confidential and/or proprietary and trade secret information, including but not limited to, company manuals, handbooks, customer lists, training manuals, checklists, programs and any other materials accessed through the Employer’s network. 
2.10    Prior Agreements.  Nothing in this Agreement shall be deemed to relieve Employee of any of Employee’s obligations and covenants as set forth in sections 5, 6 and 11 of the Employment Agreement.
2.11    Confidentiality of Severance Offer and Benefits.  Except to the extent required by law (e.g., to submit a tax return or compliance with a lawful subpoena), Employee warrants that he has not disclosed, and promises that he will not disclose, the offer or payment of severance benefits for any reason to any person other than members of his immediate family and professional representatives, who shall be informed of and bound by the same promise of confidentiality. 
2.12    Consequences of Violation of Agreement.  If either party violates his or its promises in this Agreement, the other party shall be entitled to recover, in addition to any other damages or remedies, such party’s attorneys’ fees and costs in defending against the claim or enforcing the terms of this Agreement.  In addition, if Employee breaches his promises in this Agreement or his obligations and covenants set forth in sections 5, 6 and 11 of the Employment Agreement, Employer shall have the right to cease paying the Severance Payment under this Agreement and to recover any portion of the Severance Payment previously paid to Employee.  
2.13    Reemployment or Reinstatement.  Employee hereby waives any right to and agrees not to apply or reapply for employment and agrees that Employer has no obligation, contractual or otherwise, to rehire, reemploy or recall him in the future.  The existence of this Agreement shall be a valid, non-discriminatory basis for rejecting any such application or, in the event Employee obtains such employment, to terminate such employment.
2.14    Entire Agreement.  This Agreement sets forth all agreements and understandings between Employee and Employer and supersedes any prior agreements, understandings or promises between them, except for sections 5, 6 and 11 of the Employment Agreement. Employee acknowledges that he has not relied on any inducements that are not set forth herein. 

2.15    Governing Law/Arbitration.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York.  Any dispute arising out of or relating to this Agreement shall be resolved pursuant to the Resolution of Disputes Regarding Employment in section 11 of the Employment Agreement. 
2.16    Severability.  If any term, provision, or portion of this Agreement is held unenforceable by any tribunal, it shall be deemed automatically adjusted to the extent necessary to conform to the requirements for validity as declared at such time and, as adjusted, shall be deemed a provision of this Agreement as if originally included herein.  In the event that an invalidated provision is of such a nature that it cannot be so adjusted, the provision shall be deemed deleted from this Agreement as if it had never been included herein.  In either case, the remaining provisions shall remain in full force and effect.
2.17    Consultation with Attorney. Employee is aware of and acknowledges that he has the right, at Employee’s expense, to consult with an attorney before signing this Agreement, has been advised in writing to do so, and has done so to the extent desired. Employee acknowledges, that he has had a reasonable period of time in which to consider the terms of this Agreement, and he has specifically consulted (or has the opportunity to consult) his attorneys regarding this Release and all of its terms.  Employee specifically acknowledges that he was counseled by a representative of Employer to seek the advice of counsel concerning this Agreement and its meaning and effect.

2.18    Time for Consideration and Employee’s Right to Revoke Agreement.  Employee acknowledges that he has been given a period of twenty-one (21) days to consider whether to sign this Agreement, and that he can use as much or as little of this period as he chooses.  In the event Employee elects to execute this Agreement before the end of the twenty-one (21) day review period provided to Employee and thereby waive the remainder of the twenty-one (21) day review period, Employee does so knowingly and voluntarily, and Employee acknowledges and represents that the Company has not in any way coerced Employee to do so or otherwise threatened to withdraw or alter the Company’s offer of severance pay set forth in this Agreement before the expiration of such twenty-one (21) day period. 

In addition, after Employee signs the Agreement there is a seven (7) day revocation period. The Parties acknowledge and understand that this Agreement shall not take effect until seven (7) days after the signing of the Agreement, during which time the Employee may revoke the Agreement by delivering a written notice specifically stating Employee’s desire to revoke the Agreement to the Company c/o Legal Department, 590 Madison Avenue, 37th Floor, New York, New York 10022.  Notice must be received by the Company no later than midnight (Eastern Time) on the seventh day following signature of Employee of this Agreement. Employee further acknowledges that he has carefully read and fully understands all of the provisions of this Agreement and is freely elected to sign this Agreement on the date set forth below.  The signed Agreement must be delivered to Travelzoo, Attention: Rachel Barnett, General Counsel.  If Employee fails to sign and return this Agreement within the time allowed, it shall not be effective or enforceable and Employee will not receive the Severance Payment described in section 2.1.  Employee hereby acknowledges that his execution of this Agreement and release is made knowingly and that he has been advised of and afforded the proper time for consideration of this Agreement and Release.  

2.19    Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. 

EMPLOYEE ACKNOWLEDGES THAT HE HAS HAD AN ADEQUATE OPPORTUNITY TO REVIEW THIS AGREEMENT AND ALL OF ITS TERMS AND IS ENTERING INTO IT VOLUNTARILY ON THE DATE SHOWN BELOW HIS NAME.  HE HAS CAREFULLY READ THIS AGREEMENT AND UNDERSTANDS ALL OF ITS TERMS INCLUDING THE FULL AND FINAL RELEASE OF CLAIMS SET FORTH ABOVE.  HE FURTHER ACKNOWLEDGES THAT HE HAS VOLUNTARILY ENTERED INTO THIS AGREEMENT, THAT HIS AGREEMENT IS NOT THE RESULT OF ANY FRAUD, DURESS, COERCION, PRESSURE OR UNDUE INFLUENCE EXERCISED BY OR ON BEHALF OF EMPLOYER, THAT HE HAS NOT RELIED UPON ANY REPRESENTATION OR STATEMENT, WRITTEN OR ORAL, NOT SET FORTH IN THIS AGREEMENT, AND THAT HE HAS HAD THIS AGREEMENT REVIEWED BY HIS ATTORNEY AND TAX ADVISOR, OR HAS BEEN GIVEN THE OPPORTUNITY BY EMPLOYER TO DO SO.

	
		
	 
	TRAVELZOO 

	By: /s/Michael Stitt
	By: /s/ Holger Bartel

	Name: Michael Stitt
	Name: Holger Bartel

	 
	Title: Global CEO

	Date Signed: 10/19/2018 
	Date Signed:  10/19/2018zbh-ex101_62.htm

EXHIBIT 10.1

Zimmer GmbH

Sulzerallee 8

CH-8404 Winterthur

Phone  +41 (0)58 854 80 00

Fax  +41 (0)52 244 86 40

www.zimmerbiomet.com

 

Employment Agreement

 

 

between

 

 

Zimmer GmbH

Sulzerallee 8, 8404 Winterthur

 

and

 

Mr Didier Deltort, born on ●, in ●

(hereinafter referred as ,Mr. Deltort“)

 

will be hired in terms of Art. 319ff. OR.

 

 

	
1.
	
Hire date, position and work location

 

	
1.1
	
Mr. Deltort (“you”) will be employed effective August 20, 2018, as President EMEA, Level Z04.  In this function you will report directly to Bryan C. Hanson, the President and Chief Executive Officer of Zimmer Biomet Holdings, Inc. (the “Company” and together with Zimmer GmbH and its other subsidiaries, the “Zimmer Biomet Group”).  You will also be a member of the Company’s global Leadership Team.

 

	
1.2
	
The position will be based in Winterthur, Switzerland and will be entered into Commercial Register as President EMEA.

 

 

	
2.
	
Contract duration, probationary period, notice period and severance

 

	
2.1
	
This Agreement shall be valid for an indefinite time period.  The probationary period months has been waived as per agreement but would be normally 6 months according to the Contractual Employment Conditions (Swiss terms and conditions of employment, hereinafter referred as the “AVB”).

 

	
2.2
	
The employment may be terminated in writing by either party with a notice period of 6 months from the end of the month in which the notice is given.  This term of notice deviates from the AVB.

 

	
 
	
2.3
	
In this role, you will be eligible to participate in the Company’s Executive Severance Plan, as amended.  As an eligible Leadership Team member, in the event of your involuntary separation without Cause as defined under the plan, your severance benefit offer would include the sum of your final base salary and final target bonus.  Payment would be made in lump-sum form, less applicable tax withholdings, subject to your entering into a general release in the form provided by the Company.  There would be no duplication of benefits provided under the Change in Control (“CIC”) Severance Agreement or otherwise.  Your continued eligibility for participation in this plan will be in accordance with terms of the plan as defined and administered by the Company, and 

 

 

	
 
		
taking into account your then-current job Z-grade, role and responsibilities in the Company.

 

	
2.4
	
In your role, you will be eligible to receive a CIC Severance Agreement, subject to execution of the enclosed Confidentiality, Non-Competition, and Non-Solicitation Agreement.  The agreement would provide you with certain severance benefits following a change in control of Zimmer Biomet Holdings, Inc. and related termination of your employment.  Once you return the Confidentiality, Non-Competition, and Non-Solicitation Agreement, we will prepare the CIC Severance Agreement along with a cover memo outlining the benefits under the agreement.  Your continued eligibility for potential CIC severance benefits in the event of a change in control would be in accordance with terms of the agreement.

 

 

	
3.
	
Salary and bonus

 

	
3.1
	
The annual base salary amounts to CHF 500’000 gross.  It will be paid in twelve monthly installments and is subject to all social securities, tax and other mandatory deductions.  Remittance is made at the end of each month via bank transfer to a Swiss Bank Account. 

 

	
3.2
	
You will be eligible to participate in the 2018 Executive Performance Incentive Plan (“EPIP”) upon your hire date.  Your target bonus will be eighty percent (80%) of your eligible earnings (which will consist primarily of base salary payments) for the year.  Payout may be more or less than this target percentage, depending on actual year-end results for the established performance measures.  Payment will occur in or around March of the year following the bonus period after annual performance measures upon which the bonus is based have been determined.  You must remain employed by the Zimmer Biomet Group at the time of bonus payout to receive the bonus. 

 

You will participate in the EPIP based upon the financial EMEA metric group and an individual bonus component.  Your bonus will be determined based 90% on the financial EMEA metric and 10% on evaluated accomplishment of your goals and objectives.  Your 2018 bonus will be prorated for a partial year of service by applying the earned bonus percentage to your eligible Zimmer Biomet Group earnings for the year.

 

 

	
4.
	
Long Term Incentive Plan (LTI) Plan Award

 

	
4.1 
	
You will be eligible to be considered for participation in the Zimmer Biomet Holdings, Inc. equity award program in effect at the time. 

 

	
4.2
	
We anticipate that the Company’s 2019 LTI Plan grants will have two components: 

•Stock options and

•Performance-based Restricted Stock Units (“PRSUs”).

The LTI structure currently offers participants a diversified award of 50% stock options and 50% PRSUs that can provide more consistent value than an award of stock options alone.  Further, we believe this structure assists the Company in remaining competitive within the global labor market and creates a compelling and valuable long-term incentive for participants.  For 2019, we anticipate two performance metrics for the PRSUs, and that payouts will be determined based 50% on the Company’s relative total shareholder return against the S&P 500 Health Care Index constituents and 50% on the Company’s constant currency revenue growth.  We will provide additional details and information on this PRSU design in or around March 2019. 

 

2

 

 

We will review the performance metrics, equity award types and value mix in conjunction with the 2019 annual grant and will communicate when the Compensation and Management Development Committee of the Company’s Board of Directors (“Compensation Committee”) has made these determinations.  Thereafter, the applicable performance metrics, equity award types and value mix will be subject to annual review and approval by the Compensation Committee.

 

For 2019, your estimated LTI grant date fair value in this role will be approximately $1,200,000 (USD).  We anticipate the grant date of the 2019 award will be in or around March 2019, subject to the Compensation Committee's approval.

 

LTI grant values are based upon our compensation philosophy, which is reviewed annually by the Compensation Committee and adjusted as warranted.  Please keep in mind that your job responsibilities, performance against your goals and objectives, the overall financial results of the Company and peer group / market compensation practices also impact LTI grant values each year.  All eligible equity awards are made in USD.

 

All equity awards are subject to Compensation Committe approval and other terms and conditions of the 2009 Stock Incentive Plan, as amended from time to time; award agreements; and your execution of a non-compete agreement in the form provided by the Company. 

 

 

	
5.
	
Company Car

 

You will be entitled for a Company Car, according to the European Car Policy, as amended from time to time.  It has been agreed that in this instance, it will be an Audi A7.

 

 

	
6.
	
Working time and holiday

 

	
6.1
	
The working hours result from the requirements of the function, and you will not be eligible for paid overtime.  To compensate overtime, you will be entitled to 5 additional vacation days per calendar year.

 

	
6.2
	
The annual holiday entitlement is according to the Collective Employment Agreement of the Engineering Industry (hereinafter referred to as the “GAV”); depending on your age, it would be at least 30 days + 5 additional days as referenced in 6.1 above.

 

 

	
7.
	
Relocation

 

	
7.1 
	
The Company is offering you relocation from your home location to Winterthur, Switzerland (according to the Zimmer Biomet “Cross Border Local Hire Policy”). 

 

	
7.2 
	
In case of contract cancellation by the employee within 12 (twelve) months of effective hire date, all relocation payments will have to be repaid on a pro-rata-temporis basis. 

 

	
7.3
	
All benefits and lump sum payments according to the policy rules paid through payroll regarding the relocation are taxable according to the Swiss law. 

 

 

3

 

 

	
8.
	
Pension plan

 

	

	
For pension purposes, you will be covered under the terms and conditions of the following two schemes: “Sulzer Vorsorgeeinrichtung (SVE)” and “Johann Jakob Sulzer Stiftung (JJS). 

 

 

	
9.
	
Confidentiality, Non-Competition, and Non-Solicitation Agreement

 

You commit to sign as an attachment to this Employment Contract a Confidentiality, Non-Competition, and Non-Solicitation Agreement.

 

 

	
10.
	
Applicable Law and Place of Jurisdiction

 

	

	
The Employment Contract takes effect when signed by both parties.  Employment is subject to Swiss Law and the GAV.  The courts of law in the Canton of Zurich have jurisdiction.

 

 

	
11. 
	
Contract supplement

 

	
11.1
	
You must treat in absolute confidence all information acquired in the course of employment, which is not public knowledge.  This obligation continues to apply after the employment relationship has ended. 

 

	

	
The collection, supply and forwarding of information to third parties, as well as publications in word, text, image or sound in respect of technical matters and other issues concerning the Zimmer Biomet Group, require the express consent of the Company.

 

In connection with your employment with Zimmer GmbH, relevant personal data will be collected and processed.  The details relating to the collection and processing of these data are contained in the EEA and Switzerland Employee Privacy Policy and Notice (the “Privacy Policy”, which is available on the Company’s intranet site, The Circle, on the Privacy page.  In particular, the Privacy Policy provides information on the specific categories of personal data collected, the reasons for collection of the data, how the data is processed and shared, how it is safeguarded, how it is transferred within the Zimmer Biomet Group as well as to authorized third parties, and how it may be transferred outside of the EEA and Switzerland.  The Privacy Policy also contains information on how to exercise the right to access, amend, or rectify the data, as well as who to contact in case of questions or in cases where the rights might have been violated.

 

	
11.2
	
The following documents build an integral part of this employment contract, if not otherwise specified in this contract:

 

	
 
	
•
	
Collective Employment Agreement of the Engineering Industry (GAV)

	
 
	
•
	
Contractual Employment Conditions Zimmer (Arbeitsvertragliche Bestimmungen Zimmer, AVB) 

	
 
	
•
	
Terms and conditions of the “Sulzer Vorsorgeeinrichtung (SVE)” and terms and conditions of the “Johann Jakob Sulzer Stiftung (JJS) 

	
 
	
•
	
Zimmer Biomet Code of Business Conduct and Ethics

	
 
	
•
	
Confidentiality, Non-Competition, and Non-Solicitation Agreement

	
 
	
•
	
Zimmer Biomet “Cross Border Local Hire Policy”

4

 

 

	
 
	
•
	
European Car Policy

	
 
	
•
	
Privacy Policy

	
 
	
•
	
HR Conflicts of Interest Policy

	
 
	
•
	
Compliance-related Policies

 

	
11.3
	
In the event of any discrepancies between this contract of employment and the general contract terms, the contract of employment shall take precedence over the general contract terms.

 

Mr. Deltort confirms the receipt of the before mentioned documents and his agreement with the contents.

 

Winterthur, June 28, 2018

 

 

Zimmer GmbH

 

/s/ Asif Hussain

Asif Hussain

VP, Human Resources, EMEA

 

 

 

Agreed:

 

			
	
Place and Date: Venerque, July 2, 2018
	
Employee: 
	
/s/ Didier Deltort

	
 
	
 
	
Didier Deltort

 

 

5

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