Document:

Exhibit 10.10

 

	
Smith   Executive Employment Agreement
    	

    

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of this 14th day of September, 2011 (the “Effective Date”), by and between Smith Electric Vehicles U.S. Corporation (the “Company”) and Bryan Hansel, an individual (“Employee”).

 

W I T N E S S E T H:

 

WHEREAS, the Company is in the business manufacturing and distributing electric delivery vehicles; and

 

WHEREAS, the Company and Employee desire to enter into this Agreement to establish certain terms of Employee’s employment with the Company.

 

NOW THEREFORE, in consideration of the foregoing, the mutual promises contained herein, and other good and valuable consideration, the receipt, and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Employment, Duties and Term.

 

(a)                                  Company hereby employs Employee as the President and Chief Executive Officer, and Employee hereby accepts such employment with Company on the terms and conditions set forth in this Agreement.  In such capacity, Employee shall perform the duties appropriate to such office or position, and such other duties and responsibilities as are assigned to him from time to time by the Board of Directors of Company (the “Board”).  During the term of his/her employment with Company, Employee shall devote his/her full working time and best efforts to the performance of his/her duties under this Agreement for and on behalf of Company, and shall not work for anyone else without the express written consent of Company or engage in any activity in competition with or detrimental to Company or any affiliate of Company.  Employee shall follow in all material respects all rules, policies and programs adopted from time to time by the Company and applicable to Employee.

 

(b)                                 This Agreement shall commence on the Effective Date and end when it is terminated in accordance with Paragraph 3 of this Agreement (the “Termination Date”).  The period from the Effective Date to the Termination Date shall be referred to in this Agreement as the “Term.”

 

(c)                                  Employee’s services shall be performed primarily at a place of business of Company in the Kansas City, Missouri metropolitan area.

 

2.                                       Compensation.

 

(a)                                  Base Compensation.  In consideration of the services rendered by Employee, and subject to the terms and conditions hereof, Company will pay Employee during the Term of this Agreement a base salary of $350,000.00 per year (the “Base Compensation”).  The Base

 

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Compensation shall be payable in accordance with Company’s regular payroll practices.  Company will withhold from all compensation payable to Employee all applicable federal, state, and local withholding taxes.

 

(b)                                 Bonus.  Subject to the terms and conditions hereof and based on Employee’s performance during a fiscal year, during the Term, Employee shall be eligible to earn an annual performance bonus of up to an amount determined by the Company’s Board of Directos (or a Board committee), as applicable (the “Performance Bonus”).  Eligibility for consideration for a Performance Bonus and the criteria applicable to Employee’s Performance Bonus opportunity for any given fiscal year (including the fiscal year in which the Effective Date occurs) shall be determined by the Board (or a committee thereof) not later than the end of the first quarter of the relevant performance year (except to the extent Employee’s employment commences after the first quarter of such year).  Payment of any Performance Bonus shall be made based on the Company’s Board’s (or a Board committee’s), as applicable, determination regarding Employee’s satisfaction of the criteria applicable to such Performance Bonus opportunity.  Any payment in respect of a Performance Bonus shall be subject to tax and other standard payroll withholdings and shall be paid within thirty (30) days following the final determination of the amount of the Performance Bonus to be paid.

 

(c)                                  Equity Interests.  Employee has been issued an equity interest in the Company as set forth and defined in the Stockholder’s Agreement relating to the Company.  Employee shall be eligible to participate in the equity incentive programs offered by the Company as permitted by law and the applicable program documents.  In the event Employee is entitled to participate in such programs, Employee shall comply with the applicable program documents and all laws and regulations governing said programs, and agrees to execute any instruments or documents and take all other actions reasonably requested by the Company in order to affect the issuance and, as applicable, repurchase or cancellation, of securities issued to Employee thereunder.

 

(d)                                 Vacation.  Employee will be entitled to 30 days vacation per year; provided, however, except as otherwise provided by applicable law: (1) the Company shall not pay Employee any additional compensation for any vacation time which is not used prior to the end of a calendar year or any earlier termination of employment, and (2) any vacation time which is not used prior to the end of a calendar year may not be used in any subsequent year.  If during the Term, Employee is employed by the Company for only part of a calendar year, Employee shall be entitled to a pro rata number of vacation days during such partial calendar year.

 

(e)                                  Benefits.  During the Term, Employee shall be entitled to participate in any employee benefit plans (including retirement, insurance, fringe benefit and other executive benefit plans) generally provided by the Company to full-time employees of the Company, but only to the extent provided in such employee benefit plans and subject to eligibility requirements of such plans, and for so long as Company provides or offers such benefit plans.  Company reserves the right to modify, amend, or terminate such benefit plans at any time without prior notice.  Company will pay 100%, of the cost of employee family health insurance coverage, AD&D, executive level Short and Long Term Disability and term life insurance (up to one (1)

 

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times Base Compensation or up to a maximum of $1,000,00.00, whichever is greater); provided, however, that, if the Company determines that its payment of 100% of the cost of any such coverage might cause the applicable plan to provide an impermissibly discriminatory benefit, then, in lieu of paying 100% of the cost of such coverage, the Company will pay the maximum amount that it can pay for the coverage without causing the impermissible discrimination and pay the Executive a cash payment equal to the sum of (1) the difference between the amount that the Company pays for coverage and the actual cost of such coverage and (2) the amount of income and employment taxes that it reasonably anticipates the Executive will owe on the amount paid under this sentence. The Company will provide Employee a vehicle allowance of $1,000.00 per month.  The Company will pay for (or reimburse Employee the costs of) Employee’s memberships in social or business clubs, professional associations, and continuing education costs required to maintain professional certifications, to the extent deemed appropriate by the Company’s President and Chief Executive Officer.  The Employee will be responsible for all income taxes levied against Employee as a result of the Company’s provision of any benefits to Employee.

 

(f)                                    Expense Reimbursement.  During the Term, Employee shall be entitled to be reimbursed in accordance with Company policies, as adopted from time to time, for all reasonable, ordinary, and necessary expenses incurred by Employee in connection with the performance of Employee’s duties of employment hereunder, including, but not limited to travel, entertainment, professional dues, professional associations, professional education, and subscriptions.  If necessary to avoid adverse tax consequences for Employee, these reimbursements shall be made in a fashion that satisfies the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”).

 

3.                                       Termination.

 

(a)                                  Termination Events.  This Agreement and Employee’s employment with the Company may be terminated as follows:

 

(i)                                     by the Company, immediately and without advance notice, for Cause;

 

(ii)                                  by the Company, immediately and without advance notice, upon the death or Disability of Employee;

 

(iii)                               by the Company, upon ninety (90) days prior written notice to Employee, without Cause;

 

(iv)                              by Employee, immediately and without advance notice, for Good Reason;

 

(v)                                 by Employee, upon thirty (30) days prior written notice to the Company without Good Reason; or

 

(vi)                              by Employee, immediately and without advance notice, following a Change in Control.

 

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(b)                                 Termination Benefits.

 

(i)            Subject to Paragraph 3(c) below, within sixty (60) days of termination of this Agreement, the Company will pay to Employee a lump sum payment equal to the sum of:

 

(A)                              all accrued but unpaid benefits, reimbursements and Base Compensation owed to Employee as of the date of termination; and

 

(B)                                if this Agreement is terminated under clause (ii), (iii), (iv) or (vi) of Paragraph 3(a) above, (x) the amount of Employee’s then current Base Compensation and (y) the cost associated with COBRA family coverage for Employee for a period of twelve (12) months from the date of termination; provided, however, that the Company may substitute a cash payment as described in Paragraph 2(e) for the cost of COBRA coverage to the extent required to prevent impermissible discrimination under the applicable medical plan, and (z) the amount of any Performance Bonus that has been earned in a prior year but remains unpaid as of the date of termination.

 

(ii)           If this Agreement is terminated under clause (ii), (iii), (iv) or (vi) of Paragraph 3(a), subject to Paragraph 3(c) below, Employee shall be entitled to a pro rated portion of the Performance Bonus, if any, Employee would have received for the fiscal year in which this Agreement is terminated had Employee remained employed with the Company.  Such payment, if any, shall be paid as and when Performance Bonuses are paid by the Company for such fiscal year.

 

(iii)          Notwithstanding the foregoing, no payments under clause (i)(B) or (ii) of this Paragraph 3(b) shall be payable in connection with a termination of this Agreement as a result of Employee’s Disability unless such Disability also satisfies the definition of “disability” under Section 409A.

 

(iv)          If this Agreement is terminated for any reason, the Company shall continue to provide D&O tail insurance coverage to the Employee for the proscribed period provided in the D&O insurance policy in force as of the date of such Agreement termination.

 

(c)                                  Release.  All payments and benefits provided to Employee under Paragraph 3(b) (other than the payments and benefits provided under Paragraph 3(b)(i)(A)) above are conditioned on Employee executing and not revoking a release of claims against the Company, in substantially the form set forth as Exhibit A hereto, which release must be executed, not be revoked and have become irrevocable within sixty (60) days of Employee’s termination or resignation.  All payments and benefits provided under Paragraph 3(b) (other than the payments and benefits provided under Paragraph 3(b)(i)(A)) above shall be forfeited if the Employee does not timely execute (or subsequently revokes) the release.

 

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(d)                                 Certain Defined Terms.                      For purposes of this Agreement, the following capitalized terms shall have the meaning set forth below:

 

(i)            “Cause” means the good faith and reasonable determination of the Board that the Employee has

 

(A)                              been grossly negligent or engaged in willful misconduct, fraud, embezzlement, acts of dishonesty or a conflict of interest (to the extent such conflict of interest materially harms the Company), in each case, relating to the affairs of the Company; provided, that “Cause” shall not be deemed to exist under this clause (A) unless Employee has been given written notice specifying the act or omission constituting Cause and Employee has failed to cure such act or omission within thirty (30) days after receiving such notice; provided further, that such notice and cure right shall not be required to be given if the act or omission giving rise to the determination that Cause exists is not, in the reasonable determination of the Board, susceptible of cure;

 

(B)                                been convicted of or pleaded nolo contendere to any felony crime; or

 

(C)                                engaged in a willful violation of any federal or state securities laws.

 

(ii)                                  “Change in Control” shall be deemed to have occurred upon any of the following events:

 

(A) individuals who, on the Effective Date, constitute the Board of Directors of the Company (the “Incumbent Directors”) cease for any reason to constitute at least a majority of such Board; provided, however, that any person becoming a director after the Effective Date and whose appointment, election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board shall be an Incumbent Director; or

 

(B) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) or any successors thereto is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) or any successor thereto, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding voting securities; or

 

(C) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation (A) which would result in all or a portion of the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)

 

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more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (B) by which the corporate existence of the Company is not affected and following which the Company’s chief executive officer and directors retain their positions with the Company (and constitute at least a majority of the Board of Directors of the Company); or

 

(D) approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

(iii)          “Disability” has the meaning set forth in the Company’s long-term disability plan as in effect as of the date on which a “Disability” is claimed hereunder.

 

(iv)          “Good Reason” means:

 

(A)                              a material diminution in Employee’s title or responsibilities not otherwise agreed to in writing by Employee;

 

(B)                                a material reduction in Employee’s Base Compensation not otherwise agreed to in writing by Employee;

 

(C)                                a move of the Company’s corporate office of more than 100 miles from its location on the Effective Date, or a move of more than 100 miles of any Company facility at which the Employee is regularly required to provide substantial services;

 

(D)                               the Company’s failure to satisfy any payment obligation under this Agreement; or

 

(E)                                 a material breach by the Company of this Agreement (other than a failure to satisfy any payment obligation).

 

A termination for Good Reason hereunder shall not be effective until Employee has first given the Company written notice specifying such act or omission giving rise to the alleged Good Reason event and the Company has failed to cure such act or omission within thirty (30) days after receiving such notice. Employee shall provide the Company with such written notice detailing the specific circumstances alleged to constitute Good Reason within ninety (90) days after the first occurrence of such circumstances, otherwise, any claim of such circumstances as “Good Reason” shall be deemed irrevocably waived by Employee.

 

4.                                       Confidential Relationship and Confidential Information.

 

(a)                                  Confidential Information.  Employee acknowledges that, during the course of his/her employment, he will have access to information relating to the Company’s business that

 

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provides the Company with a competitive advantage, that is not generally known by persons not employed by or providing services for the Company and that could not easily be determined or learned by someone outside the Company (“Confidential Information”).  Such Confidential Information includes both written information and information not reduced to writing and includes, without limitation:  (i) the identity of the Company’s customers, suppliers and other business partners and prospective customers, suppliers and other business partners, including names, addresses and phone numbers, the characteristics, preferences and investment strategies of those parties, the types of services provided to and ordered by those third parties; (ii) the Company’s internal corporate policies related to those services, price lists, fee arrangements and terms of dealings with such third parties; (iii) the identity of the Company’s sources in the field and off-site consultants and the terms and conditions on which the Company transacts business with those sources and consultants; (iv) financial and sales information, including the Company’s financial condition and performance and the compensation paid to other employees of the Company; (v) information relating to inventions, discoveries and formulas, records, research and development data, trade secrets, processes, other methods of doing business, forecasts and business and marketing plans of the Company and (vi) all Company Intellectual Property (as hereinafter defined).  Employee acknowledges that the Company has gathered such information at great cost and over time and that such information is not generally known and cannot easily be obtained from publicly available sources.

 

(b)                                 Notwithstanding the foregoing, the term “Confidential Information” shall not include, and Employee shall not have any obligations under this Paragraph 4 with respect to, any information which (i) is or becomes publicly known through no unlawful or other wrongful act or omission by Employee or any other person or entity; (ii) becomes known to Employee from a third party having the legal right to make an unrestricted disclosure without a breach of any obligation of confidentiality to the Company by Employee or such third party; (iii) is voluntarily disclosed to the public or competitors of the Company by the Company (except where such public disclosure has been made by Employee or another without authorization); or (iv) has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means.

 

(c)                                  Restriction on Use and Disclosure of Confidential Information.  Employee shall, both during and after his/her employment by Company, hold all Confidential Information in a fiduciary capacity.  Employee shall not directly or indirectly use or disclose such Confidential Information except as is (i) necessary for the good faith performance of his/her services for Company, (ii) reasonably necessary, in the opinion of counsel to the Company (or, in respect of claims by the Company against Employee, counsel to Employee), to respond to or defend any claim(s) against Employee or the Company or (iii) required to be disclosed by court order, governmental action, legal process or by applicable law; provided, however, that if disclosure is required under this clause (iii), Employee shall first give written notice thereof to the Company and shall fully cooperate (at the Company’s cost and expense) in the Company’s attempt to obtain a protective order or other waiver or exclusion from the court or other applicable governmental or other authority.

 

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(d)                                 Ownership of Confidential Information.  Employee acknowledges that any documents received or created by him during the course of his/heremployment with the Company that contains or pertains to Confidential Information are and will remain the sole property of the Company.  Such documents include, without limitation, files, memoranda, correspondence, reports, client records, contact lists and compilations of information, however such information may be recorded and whether on hard copy or on a computer disk, magnetic disk,  CD-ROM, flash drive, or other electronic storage device.  Employee shall return all such documents (including all copies) promptly upon the termination of his/her employment and shall not, during and after his/her employment, disclose those documents to anyone outside the Company or use those documents for any purpose other than the advancement of the Company’s interests, or as reasonably necessary, in the opinion of counsel to the Company (or, in respect of claims by the Company against Employee, counsel to Employee), to respond to or defend any claim(s) against Employee or the Company.

 

5.                                      Restrictive Covenants.

 

(a)                                 Noncompetition; Non-solicitation.

 

(i)            Employee acknowledges that the Company is engaged in a highly competitive business on a world-wide scale and that, by virtue of the position in which Employee is employed, his/her engaging in or working for or with any business which is directly competitive with the Company would cause the Company great and irreparable harm.  Employee also acknowledges that, by virtue of his/her employment, he has gained or will gain knowledge of the identity, characteristics, and preferences of the Company’s customers, suppliers and other business partners, among other Confidential Information, and that Employee would inevitably have to draw on such Confidential Information if he were to solicit or service the Company’s customers, suppliers and other business partners on behalf of a competing business enterprise.

 

(ii)           Employee agrees that “Restricted Business” at any date means the goods, products, and/or services of the type provided, marketed, sold, produced and/or developed by the Company during the twelve (12) month period ending on that date for or concerning commercial all electric vehicles.  The “Territory” for the purposes of this Paragraph 5 shall be anywhere in (x) the World, (y) North America and (z) the United States.  The parties acknowledge that the geographical limitations contained in (x), (y) and (z) are separate  covenants and are reasonable based on the world-wide nature of the Company’s business.

 

(iii)          Accordingly, Employee agrees that during Employee’s employment with Company, whether or not under this Agreement, and thereafter for a period of twelve (12) months (the “Noncompetition Period”) he will not within the Territory:

 

(A)                               directly or indirectly, engage or invest in, own, manage, operate, finance, control or participate in the ownership, management, operation, 

 

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financing, or control of or be employed by, associated with or in any manner connected with any entity or organization engaged in Restricted Business;

 

(B)                               directly or indirectly approach, advise, solicit or deal with, in competition with the Company, any entity or organization engaged in Restricted Business;

 

(C)                               directly or indirectly, for the purpose of competing with the Company:

 

(1)                                 induce or procure or attempt to induce or procure any person who is on, or was during the twelve (12) months preceding, the date of the termination of Employee’s employment with the Company, an officer or key employee of, consultant for or other person under contract to provide services to the Company, to leave his/her/her employment or service with the Company (whether or not that person would commit any breach of his/her or her employment or appointment by reason of leaving the service of the Company);

 

(2)                                 accept into employment or otherwise engage or use the services of any person who is on, or was during the twelve (12) months preceding, the date of the termination of Employee’s employment with the Company, an officer or key employee of, consultant for or other person under contract to provide services to the Company; or

 

(3)                                 induce or procure or attempt to induce or procure any person or entity who is on, or was during the twelve (12) months preceding, the date of the termination of Employee’s employment with the Company, a customer of Company to purchase commercial all electric, hybrid, or alternative fuel trucks from a person or entity other than the Company;

 

(D)                               provide technical, commercial or professional advice to any business or concern engaged in Restricted Business;

 

(E)                                interfere or seek to interfere with the supply of any components, materials, goods or services to the Company (or with the terms of any such supply); or

 

(F)                                 disparage the Company, its directors, officers, employees, the Company brand or its products and services.

 

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(b)                                 Intellectual Property.

 

(i)                                     Employee shall disclose promptly to the Company all ideas, inventions, discoveries, improvements, designs, formulae, processes, production methods and technological innovations (which, together with all intellectual property rights that might be available therein including, without limitation, patents, copyrights and trade secrets, shall hereinafter be referred to as “Intellectual Property”), whether or not patentable, which Employee may conceive or make, alone or with others, in connection with his/her employment with the Company from and after the date of this Agreement, whether or not during working hours, and which: (A) relate specifically to the business of the Company; (B) are based on or derived from Employee’s knowledge of the actual or planned business activities of the Company; or (C) are developed using existing Intellectual Property belonging to the Company.

 

(ii)                                  Employee shall assign, and does hereby assign, to the Company (and to bind his/her heirs, executors and administrators, to assign to the Company) all Intellectual Property covered by Paragraph 5(b)(i) hereof (collectively, “Company Intellectual Property”).

 

(iii)                               Without further compensation but at the Company’s expense, Employee agrees to give all testimony and execute all patent applications, rights of priority, assignments and other documents, and in general do all lawful things reasonably requested of Employee by the Company to enable the Company to obtain, maintain and enforce its rights to such Company Intellectual Property.

 

(iv)                              All of Employee’s work product during his/her employment hereunder and all parts thereof shall be “work made for hire” for the Company within the meaning of the United States Copyright Act of 1976, as amended from time to time, and for all other purposes, and Employee hereby quitclaims and assigns to the Company any and all other rights he may have or acquire therein.  Accordingly, all right, title and interest in any and all materials, or other property, including, without limitation, trademarks, service marks and related rights, whether or not copyrightable, created, developed, adapted, formulated or improved by Employee (whether alone or in conjunction with any other person or employee), constituting Company Intellectual Property shall be owned exclusively by the Company.  Employee will not have or claim to have under this Agreement, or otherwise, any right title or interest of any kind or nature whatsoever in any Company Intellectual Property.

 

6.                                      Release.  Employee acknowledges that the Company may use the image, likeness, voice, or other characteristics of Employee in the services, materials, computer programs, marketing and advertising and other deliverables created or used or distributed by or on behalf of the Company in the course of its business.  Employee hereby consents to the use of such characteristics of Employee by the Company and releases the Company, its directors, officers, employees, agents, contractors, licensees and assigns from any claims which Employee has or may have for invasion of privacy, right of publicity, defamation, copyright infringement, or any 

 

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other causes of action arising out of the use, adaptation, reproduction, distribution, broadcast, or exhibition of such characteristics.

 

7.                                      Enforcement.  Employee acknowledges that the restrictions contained in Paragraphs 4 and 5 are fair, reasonable, and necessary for the protection of the legitimate business interests of the Company and that the Company will suffer irreparable harm in the event of an actual or threatened breach of any such provision by Employee.  Employee therefore consents to the entry of a restraining order, preliminary injunction, or other court order to enforce such provisions and expressly waives any security that might otherwise be required in connection with such relief.  Employee also agrees that any request for such relief by the Company shall be in addition and without prejudice to any claim for monetary damages which the Company might elect to assert.  Employee agrees that the terms of Paragraphs 4 and 5 are in addition to, and not in limitation of, any other restrictive covenants agreed to by Employee with respect to the Company.  For all purposes of Paragraphs 4 and 5, the term “Company” means the Company and each of its now existing or hereafter created or acquired or affiliated companies, subsidiaries and parent companies, and their respective successors and assigns.

 

8.                                      No Conflicting Obligations.  Employee represents and warrants to the Company that he is not now under any obligation of a contractual or other nature to any person or entity which is inconsistent or in conflict with this Agreement, or which would prevent, limit or impair in any way the performance by him of his/her obligations hereunder.

 

9.                                      Governing Law and Forum Selection.  This Agreement shall be governed by and construed in accordance with the laws of the State of Missouri, without respect to its principles of conflicts of laws that would refer resolution of any dispute arising under this Agreement to the substantive laws of another jurisdiction.  Employee and the Company hereby agree that the exclusive venue for any legal dispute related to this Agreement shall be in the state and federal courts sitting in Platte County, Missouri and the appellate courts having jurisdiction thereover.

 

10.                               Severability.  If any provision of this Agreement or the application of any such provision to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid or unenforceable to any extent, the remainder of this Agreement, or the application of such provision to such person or circumstances other than those to which it is so determined to be invalid or unenforceable, shall not be affected thereby, and each provision hereof shall be enforced to the fullest extent permitted by law.  If the final judgment of a court of competent jurisdiction declares that any provision of this Agreement, including, without limitation, any provision of Paragraph 4, 5 or 6 hereof, is invalid or unenforceable, the parties hereto agree that the court making the determination of invalidity or unenforceability shall have the power, and is hereby directed, to reduce the scope, duration or area of the provision, to delete specific words or phrases and to replace any invalid or unenforceable provision with a provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable provision, and this Agreement shall be enforced as so modified.

 

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11.                               Survivability.  The provisions of this Agreement which by their terms call for performance subsequent to termination of Employee’s employment, or of this Agreement, shall so survive such termination.

 

12.                               No Defense.  The existence of any claim, demand, action or cause of action of Employee against the Company, whether or not based upon this Agreement, will not constitute a defense to the enforcement by the Company of any covenant or agreement of Employee contained in Paragraphs 4 and 5 herein.

 

13.                               No Attachment.  Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation, or to execution, attachment, levy or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.

 

14.                               Source of Payments.  All payments provided under this Agreement shall be paid in cash from the general funds of the Company, and no special or separate fund shall be established and no other segregation of assets shall be made to assure payment.

 

15.                               Tax Withholding.  The Company may withhold from any benefits payable under this Agreement (including with respect to the Performance Bonus whether in cash or in stock shares) all federal, state, city or other taxes as the Company shall reasonably determine are required pursuant to any law or governmental regulation or ruling.

 

16.                               Notices.  Any notices, demands and communications under this Agreement shall be in writing and shall be deemed to have been duly given and received (a) if delivered personally or actually received, (b) three (3) business days after being mailed, certified mail, return receipt requested, (c) one (1) business day after being sent by a nationally recognized overnight delivery service, or (d) if sent via facsimile or similar electronic transmission during normal business hours, as evidenced by mechanical confirmation of such fax or other electronic transmission, to the parties as set forth below or at such other address as may have been furnished by a party to the other party in accordance with the foregoing:

 

	
If to the Company, to:
    	
Smith Electric Vehicles US Corp.
    
	
 
    	
Legal Department
    
	
 
    	
12200 N.W. Ambassador   Drive
    
	
 
    	
Kansas City, Missouri   64163
    
	
 
    	
 
    
	
If to Employee, to:
    	
Bryan Hansel
    
	
 
    	
*****
    
	
 
    	
*****
    

 

17.                               Assignment.  This Agreement is a personal contract requiring the provision of unique services by Employee, and Employee’s rights and obligations hereunder may not be sold, transferred, assigned, pledged, or hypothecated by Employee.  In the event of any attempted 

 

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assignment or transfer of rights hereunder by Employee contrary to the provisions hereof (other than as may be required by law), the Company will have no further liability for payments hereunder.  The rights and obligations of Company hereunder will be binding upon and run in favor of the successors and assigns of Company.

 

18.                               Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.  Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

19.                               Complete Understanding; Amendments; Waiver.  This Agreement and the documents referenced herein constitute the complete understanding between the parties with respect to the employment of Employee and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof, and no statement, representation, warranty or covenant has been made by any party with respect thereto except as expressly set forth herein, and all prior employment agreements between the Company and Employee with respect to the performance of any services by Employee are hereby terminated.  This Agreement shall not be altered, modified or amended (except as provided in Paragraph 10 hereof) or terminated except by a written instrument signed by each of the parties hereto.  No waiver of any term or provision hereof, or of the application of any such term or provision to any circumstances, shall be effective or binding on any party unless it is in writing signed by the party charged with giving such waiver.  A waiver by either party hereto of any breach hereunder by the other party shall not operate as a waiver of any other breach, whether similar to or different from the breach waived, and no waiver by any party hereto of a breach hereunder by the other party on any occasion shall constitute a waiver of the same breach on any subsequent occasion.  Except as expressly provided herein, no delay on the part of the Company or Employee in the exercise of any of their respective rights or remedies shall operate as a waiver thereof, no single or partial exercise by the Company or Employee of any such right or remedy shall preclude other or further exercise thereof and all remedies hereunder or by operation of law or equity shall be cumulative and not exclusive.

 

20.                               Titles and Captions; Construction.  All paragraph titles or captions in this Agreement are for convenience only and in no way define, limit, extend or describe the scope, meaning or intent of any provision hereof.  When used in this Agreement, (a) words denoting the singular include the plural and vice versa, (b) his/her, her or its shall include all genders, (c) when calculating the period of time within or following which any act is to be done or notice given or other steps taken, the date which is the reference day in calculating such period shall be excluded and if the last day of such period is not a “business day” in Kansas City, Missouri, then the period shall end on the next day which is a business day in Kansas City, Missouri, and (d) any reference to “herein,” “hereof,” “hereby,” “hereunder” or words of similar import shall mean and refer to this Agreement as a whole and not to any particular part hereof.

 

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21.                               Notification of New Employer.  In the event that Employee is no longer an employee of the Company, Employee consents to notification by the Company to Employee’s new employer or its agents regarding Employee’s rights and obligations under this Agreement.

 

22.                               Compliance with Section 409A.

 

(a)                                 This Agreement is intended, and shall be interpreted, to ensure that the payments made by the Company are exempt from, or comply with, Section 409A.  If any provision of this Agreement is or might be inconsistent with the requirements of Section 409A, such provision shall be deemed to be amended to the extent necessary to bring it into compliance with Section 409A.  Nothing in this Agreement shall require the Company to satisfy the Employee’s obligation to pay (or require the Company to indemnify the Employee with respect to) required taxes on any amounts or benefits provided under this Agreement, including without limitation, any taxes imposed under Section 409A.

 

(b)                                 Any payment by the Company that is subject to Section 409A and that is contingent on a termination of employment is contingent on a “separation from service” within the meaning of Section 409A.  Each such payment shall be considered to be a separate payment under Section 409A.

 

(c)                                  If, on the date of a “separation from service,” the equity interests of the Company are publicly traded and Employee is a “specified employee” within the meaning of Section 409A, any payment that is “nonqualified deferred compensation” subject to Section 409A and would be paid within six months after Employee’s separation from service will instead begin to be paid in the seventh month following Employee’s separation from service to the extent required by Section 409A.

 

(d)                                 Any taxable reimbursement shall be paid no later than December 31st of the year after the year in which the expense is incurred and shall comply with Treas. Reg. § 1.409A-3(i)(1)(iv).

 

(e)                                  If the period during which Employee has discretion to execute or revoke a release straddles two calendar years, the Company shall make the payments that are conditioned upon the release and subject to Section 409A no earlier than January 1st of the second of such calendar years, regardless of which taxable year Employee actually delivers the executed release to the Company.

 

IN WITNESS WHEREOF, Employee has hereunder set his/her hand, and the Company has caused this Agreement to be executed as of the day and year first above written.

 

	
 
    	
BRYAN   HANSEL “EMPLOYEE”  
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Bryan Hansel
    	
 
    

 

14

 

	
 
    	
SMITH   ELECTRIC VEHICLES US CORP.  “COMPANY”
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Roy Stanley
    	
 
    
	
 
    	
 
    	
Roy   Stanley, Chairman of the Board
    	
 
    

 

15

 

	

    	
Separation Letter   Agreement
    

 

EXHIBIT A

 

DATE, 201   

 

Name

Address

 

Dear Mr./Ms. Name:

 

This Letter Agreement is entered into in connection with the termination of your employment with Smith Electric Vehicles Corp. (the “Company”) pursuant to Paragraph 3(a)      of your Employment Agreement, dated as of Date, by and between you and the Company (the “Employment Agreement”).  Capitalized terms used but not defined in this Letter Agreement have the meanings assigned to them in the Employment Agreement.

 

By executing below, you and the Company hereby agree as follows:

 

1.             Termination Date. Your employment with the Company will terminate effective Date, 201   .

 

2.             Termination Benefits. Your termination benefits, if any, shall be payable in accordance with Paragraph 3(b) of the Employment Agreement. The aggregate amount payable to you in accordance with such Paragraph 3(b) is $                 , plus a prorated portion of the Performance Bonus, if any, that you would have received for the fiscal year in which the termination of your employment became effective.  You confirm and acknowledge that the amounts set forth in this paragraph 2 constitute and include all amounts that are due to you from the Company.

 

3.             Release.  In consideration of the termination benefits specified in Paragraph 3(b) of the Employment Agreement and paragraph 2 above, to which you acknowledge and agree you are not otherwise entitled, you hereby release and forever discharge any and all claims, causes of action, liabilities, debts and demands, of any and every kind, both at law and in equity, known and unknown, fixed or contingent (collectively, “Claims”) that you may have or claim to have against the Company, its present and former stockholders, parent companies, subsidiaries, officers, directors, employees, agents and representatives, and its and their respective predecessors, successors and assigns, based upon or in any way related to your employment with the Company and/or the termination of such employment with the Company, and you hereby covenant not to file a lawsuit or charge to assert such Claims.  You agree that this release includes, but is not limited to, any and all Claims arising under any law, including without limitation, the Age Discrimination in Employment Act; the Older Workers Benefit Protection Act; Title VII of the Civil Rights Act of 1964; the Americans with Disabilities Act; the Family and Medical Leave Act; any other state and/or local anti-discrimination statute or ordinance; any laws related to claims for alleged breach of an express or implied contract; any and all laws related to tort claims (including, but not limited to, whistleblower rights, wrongful discharge, and alleged retaliation for asserting any statutory rights); any and all other laws which might apply to

 

1

 

your employment, termination of employment, or relationship with the Company; and any and all laws related to claims for attorneys’ fees.  You further agree that, to the extent that you participate in a proceeding conducted by the Equal Employment Opportunity Commission, National Labor Relations Board and/or any federal, state or local agency, or such a proceeding is conducted on your behalf, you waive any and all rights to recover monetary damages that might otherwise be recovered by you or on your behalf.

 

The above release does not include any claim that you might file for unemployment compensation, which the parties agree is a claim against the state unemployment fund and is not a claim against the Company in any event. The Company agrees not to contest any claim for unemployment compensation that you might file. Even though the Company agrees not to contest any such claim, the Company cannot guarantee that the state unemployment authorities will find in your favor, as it has the right to deny unemployment claims even if the employer does not contest the claim.

 

4.              Expiration. In order to receive the termination benefits set forth in paragraph 2 above (other than any termination benefits described in Paragraph 3(b)(i)(A) of the Employment Agreement), you must return a signed counterpart of this Letter Agreement to the Company on or prior to 3:00 p.m., central time, on Date, 201     (such date and time, the “Election Time”), which gives you at least twenty-one (21)/forty-five (45) calendar days after the date you received this original version of this Letter Agreement, to review it (with your attorney if you so choose) and to decide whether or not to sign it.  You may sign and return this Letter Agreement to the Company at any time on or before the Election Time, but the Company must actually be in receipt of it by the Election Time in order for this Letter Agreement to become effective.  You further agree that any changes (if any) which might subsequently be made to the original version of this Letter Agreement by mutual agreement of the parties will not re-start the minimum twenty-one (21) /forty-five (45) day period in which you have been given to consider, sign, and return this Letter Agreement.  In other words, if the parties negotiate any revisions to the original version of this Letter Agreement within such twenty-one (21) /forty-five (45) day period, the deadline for you to sign and return the revised Letter Agreement to the Company is the same deadline set forth at the beginning of this paragraph.

 

If you have not delivered an executed copy of this Letter Agreement by the Election Time, then you will not be eligible to receive the termination benefits set forth in paragraph 2 above (other than any termination benefits described in Paragraph 3(b)(i)(A) of the Employment Agreement), this Letter Agreement will be null and void, and the termination of your employment with the Company will still be effective.

 

5.             Right to Revoke and Effective Date.  Once you have signed and returned this Letter Agreement, you have the right to revoke and withdraw your acceptance of it at any time within seven (7) days after the date on which you signed this Letter Agreement.  If you wish to revoke or withdraw your acceptance of this Letter Agreement, you will need to do so in writing.  Your written revocation/withdrawal must be received by the Company by 5:00 p.m., central time, on the seventh (7th) day following the date on which you signed this Letter Agreement.  This Letter Agreement will become effective on the eighth (8th) day after the date on which you signed this

 

2

 

Letter Agreement, provided you do not revoke or withdraw your acceptance and signature during the seven (7) day revocation period.

 

6.             Continued Compliance.  You acknowledge and agree that all termination benefits provided to you under the Employment Agreement and this Letter Agreement payments and benefits payable to him under this Agreement (other than any termination benefits described in Paragraph 3(b)(i)(A) of the Employment Agreement) are contingent upon: (i) your continued compliance with the provisions of Paragraphs 4 and 5 of the Employment Agreement and (ii) your agreement to make yourself available in any third party claims, investigations, litigation or similar proceedings to answer any questions relating to your employment or actions as an employee, officer or director of the Company, including, without limitation, attendance at any deposition or similar proceeding, provided that the Company pays your actual and reasonable expenses in connection with his fulfillment of your obligations under this clause (ii).  You further acknowledge and agree that the availability of such termination benefits is sufficient consideration for the release set forth in paragraph 3 of this Letter Agreement and termination of such payments and benefits due to your non-compliance shall not affect the release and covenant not to sue set forth in paragraph 3 of this Letter Agreement.

 

7.             Right to Consult Counsel. You have the right to consult an attorney of your choice before signing this Letter Agreement and have been advised to do so.

 

8.             Confidentiality. This Letter Agreement and the terms hereof constitute “Confidential Information” for the purposes of, and are subject to the terms of, Paragraph 4 of the Employment Agreement.

 

9.            Company Property.  By signing this Letter Agreement, you agree and acknowledge that you have returned to the Company all originals and copies of Company documents, work product, and all Company property, including, without limitation, computer files, diskettes, database information, client information, sales documents, financial statements, budgets and forecasts, computers, laptops, wireless telephone, and keys.

 

10.          Use of this Letter Agreement as Evidence.  This Letter Agreement may not be used as evidence in any proceeding of any kind, except a proceeding (a) in which one of the parties alleges a breach of the terms of this Letter Agreement, or (b) in which one of the parties elects to use this Letter Agreement as a defense to any claim.

 

11.          Company Notice Information.  In order for the Company to be deemed to have received your signed copy of this Letter Agreement or any other notice or communication given by you to the Company under this Letter Agreement, such communication must be in writing and must be delivered personally or sent to the Company’s attention at 12200 N.W. Ambassador Drive, Kansas City, Missouri 64163, Attention:                  , facsimile number:                .  All such communications shall be deemed delivered upon receipt by the Company.

 

12.          Governing Law and Forum Selection.  This Letter Agreement shall be governed by and construed in accordance with the laws of the State of Missouri, without respect to its principles of conflicts of laws that would refer resolution of any dispute arising under this Letter

 

3

 

Agreement to the substantive laws of another jurisdiction.  You and the Company hereby agree that the exclusive venue for any legal dispute related to this Letter Agreement shall be in the state and federal courts sitting in Platte County, Missouri and the appellate courts having jurisdiction thereover.

 

13.          Severability.  If any provision of this Letter Agreement or the application of any such provision to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid or unenforceable to any extent, the remainder of this Letter Agreement, or the application of such provision to such person or circumstances other than those to which it is so determined to be invalid or unenforceable, shall not be affected thereby, and each provision hereof shall be enforced to the fullest extent permitted by law.  If the final judgment of a court of competent jurisdiction declares that any provision of this Letter Agreement, including, without limitation, any provision of paragraph 3 hereof, is invalid or unenforceable, the parties hereto agree that the court making the determination of invalidity or unenforceability shall have the power, and is hereby directed, to reduce the scope, duration or area of the provision, to delete specific words or phrases and to replace any invalid or unenforceable provision with a provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable provision, and this Letter Agreement shall be enforced as so modified.

 

14.          Acknowledgment and Other Terms. By signing this Letter Agreement, you acknowledge that you have had a reasonable period of time to review the Letter Agreement, that you have carefully read and fully understand all its provisions, that you are signing it voluntarily, and that you are not relying on any promises or oral or written statements or presentation other than those in this Letter Agreement.

 

15.          Counterparts.  This Letter Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.  Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

16.          Entire Agreement; Amendments; Waiver.  This Letter Agreement and the Employment Agreement together constitute the complete understanding between the parties with respect to the subject matter hereof and supersede all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof, and no statement, representation, warranty or covenant has been made by any party with respect thereto except as expressly set forth herein or in the Employment Agreement.  This Letter Agreement shall not be altered, modified, amended (except as provided in paragraph 13 hereof) or terminated except by a written instrument signed by each of the parties hereto.  No waiver of any term or provision hereof, or of the application of any such term or provision to any circumstances, shall be effective or binding on any party unless it is in writing signed by the party charged with giving such waiver.  A waiver by either party hereto of any breach hereunder by the other party shall not operate as a waiver of any other breach, whether similar to or different from the breach waived, and no waiver by any party hereto of a breach hereunder by the other party on any

 

4

 

occasion shall constitute a waiver of the same breach on any subsequent occasion.  Except as expressly provided herein, no delay on the part of either party in the exercise of any of its rights or remedies shall operate as a waiver thereof, no single or partial exercise by either party of any such right or remedy shall preclude other or further exercise thereof and all remedies hereunder or by operation of law or equity shall be cumulative and not exclusive.

 

 

	
 
    	
Very truly yours,
    
	
 
    	
 
    
	
 
    	
SMITH ELECTRIC VEHICLES CORP.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

I, Name, HAVE CAREFULLY READ THE ABOVE LETTER AGREEMENT.  I HEREBY AGREE TO ALL OF ITS PROVISIONS AND TERMS, I UNDERSTAND THAT IT CONTAINS A WAIVER OF LEGAL RIGHTS, AND I SIGN BELOW VOLUNTARILY.

 

	
 
    	
 
    
	
Name
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Date
    	
 
    

 

5Exhibit 10.11

 

Smith – Allison Senior Employment Contract

 

DATED 1 JANUARY 2011

 

SMITH ELECTRIC VEHICLES EUROPE LIMITED

 

AND

 

GEOFF ALLISON

 

EMPLOYMENT CONTRACT FOR A

SENIOR EMPLOYEE

 

 

 

CONTENTS 

 

	
Clause
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
1.
    	
Interpretation
    	
3
    
	
2
    	
Term of appointment
    	
5
    
	
3
    	
Duties
    	
6
    
	
4
    	
Place of work
    	
7
    
	
5
    	
Hours of work
    	
7
    
	
6
    	
Salary
    	
7
    
	
7
    	
Expenses
    	
8
    
	
8
    	
Life assurance
    	
8
    
	
9
    	
Private medical insurance
    	
8
    
	
10
    	
Car allowance
    	
9
    
	
11
    	
Holidays
    	
9
    
	
12
    	
Incapacity
    	
10
    
	
13
    	
Outside interests
    	
11
    
	
14
    	
Confidential information
    	
11
    
	
15
    	
Intellectual property
    	
11
    
	
16
    	
Termination
    	
13
    
	
17
    	
Garden leave
    	
14
    
	
18
    	
Obligations upon   termination
    	
14
    
	
19
    	
Post-termination   restrictions
    	
15
    
	
20
    	
Disciplinary and grievance   procedures
    	
16
    
	
21
    	
Pensions
    	
17
    
	
22
    	
Data protection
    	
17
    
	
23
    	
Collective agreement
    	
18
    
	
24
    	
Reconstruction and   amalgamation
    	
18
    
	
25
    	
Notices
    	
18
    
	
26
    	
Entire agreement and   previous contracts
    	
19
    
	
27
    	
Variation
    	
19
    
	
28
    	
Counterparts
    	
19
    
	
29
    	
Third party rights
    	
19
    
	
30
    	
Governing law and   jurisdiction
    	
19
    

 

 

THIS AGREEMENT is dated           March 2011[DATE]

 

PARTIES

 

	
(1)
    	
 
    	
Smith   Electric Vehicles Europe Limited incorporated and registered in England and Wales   with company number 07472318 whose registered office is at The Vigo Centre,   Birtley Road, Washington, Tyne & Wear, NE38 9DA (Company).
    
	
 
    	
 
    	
 
    
	
(2)
    	
 
    	
Geoff Allison of   *****, Tyne & Wear, England, NE25 9HT (Employee).
    

 

AGREED TERMS

 

	
1.
    	
 
    	
Interpretation
    
	
 
    	
 
    	
 
    
	
1.1
    	
 
    	
The definitions   and rules of interpretation in this clause 1.1 apply in this agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Appointment: the employment of the   Employee by the Company on the terms of this agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Associated Employer: has the   meaning given to it in the Employment Rights Act 1996.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Board: the board of directors of   the Company (including any committee of the board duly appointed by it).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Capacity: as agent, consultant,   director, employee, owner, partner, shareholder or in any other capacity.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Commencement Date: 1   January 2011.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Confidential Information: information   (whether or not recorded in documentary form, or stored on any magnetic or   optical disk or memory) relating to the business, products, affairs and   finances of any Group Company for the time being confidential to any Group   Company and trade secrets including, without limitation, technical data and   know-how relating to the business of any Group Company or any of their   business contacts, including in particular (by way of illustration only and   without limitation):
    

 

·                      information about the Company’s and/or the Group Companies’ clients or customers (including specific client or customer lists), and details of their employees, contractors, agents, distributors and suppliers, in each case whether these are actual or potential clients, customers, employees, contractors, agents, distributors or suppliers;

 

·                      information about the financial position and future plans of the Company and the Group Companies;

 

·                      information on any database belonging to or operated by or on behalf of the Company and/or any Group Company where such information is not publicly available;

 

·                      information regarding the Company’s and the Group Companies’ prices, discounts, business and their financial, marketing, development and manpower plans;

 

3

 

·                      passwords and other security information;

 

·                      information about and concerning the designs and specifications of the products or processes designed and manufactured by or on behalf of the Company and/or any Group Company and of those products or processes which are in the process of being designed by or on behalf of the Company and/or any Group Company; and

 

·                      all other information, whether technical, non-technical, scientific, or non-scientific, which the Company or any Group Company considers might cause significant harm were it to be available to and/or used by anyone other than the Company or a Group Company and which is notified to the Employee as being confidential or is clearly by its nature confidential and is treated by the Company and/or any Group Company as such.

 

	
 
    	
 
    	
Employee’s family: the Employee’s spouse or   civil partner and children under the age of 18.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Employment IPRs: Intellectual Property   Rights created by the Employee in the course of his employment with the   Company (whether or not during working hours or using Company premises or   resources).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Employment Inventions: any invention   which is made wholly or partially by the Employee at any time in the course   of his employment with the Company (whether or not during working hours or   using Company premises or resources, and whether or not recorded in material   form).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
FSA: the Financial Services   Authority.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Garden Leave: any period during which   the Company has exercised its rights under clause 177.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Group Company: the Company, any company   of which it is a Subsidiary (its holding company) and any Subsidiaries of the   Company or of any such holding company.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Incapacity: any sickness or injury   which prevents the Employee from carrying out his duties.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Intellectual Property Rights (“IPR”): patents,   rights to Inventions, copyright and related rights, trade marks, trade names   and domain names, rights in get-up, rights in goodwill or to sue for passing   off, unfair competition rights, rights in designs, rights in computer   software, database rights, topography rights, rights in confidential   information (including know-how and trade secrets) and any other intellectual   property rights, in each case whether registered or unregistered and   including all applications (or rights to apply) for, and renewals or   extensions of, such rights and all similar or equivalent rights or forms of   protection which subsist or will subsist now or in the future in any part of   the world.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Invention: any invention, idea,   discovery, development, improvement or innovation, whether or not patentable   or capable of registration, and whether or not recorded in any medium.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Pre-Contractual Statement: any   undertaking, promise, assurance, statement, representation, warranty or   understanding (whether in writing or not) of any person
    

 

4

 

	
 
    	
 
    	
(whether party to this agreement or not) relating to the Employee’s   employment under this agreement which is not expressly set out in this   agreement.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Restricted Business: All-electric commercial   trucks, vans, and busses.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Restricted Customer: any firm, company or   person who, during the 12 months prior to Termination, was a customer of or   in the habit of dealing with the Company or any Group Company with whom the   Employee had dealings in the course of his employment.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Restricted Person: anyone employed or engaged   by the Company or any Group Company at the level of Management or above and   who could materially damage the interests of the Company or any Group Company   if they were involved in any Capacity in any business concern which competes   with any Restricted Business and with whom the Employee dealt in the 12   months prior to Termination in the course of his employment.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Staff Handbook: the Company’s staff   handbook as amended from time to time.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Subsidiary: in relation to a company   (a holding company) means a subsidiary (as defined in section 1159 of the   Companies Act 2006) and any other company which is a subsidiary (as so   defined) of a company which is itself a subsidiary of such holding company.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Termination: the termination of the   Employee’s employment with the Company however caused including, without   limitation, termination by the Company in repudiatory breach of contract.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Working Time Regulations: the Working   Time Regulations 1998.
    
	
 
    	
 
    	
 
    
	
1.2
    	
 
    	
The headings in   this agreement are inserted for convenience only and shall not affect its   construction.
    
	
 
    	
 
    	
 
    
	
1.3
    	
 
    	
A reference to a   particular law is a reference to it as it is in force for the time being   taking account of any amendment, extension, or re-enactment and includes any   subordinate legislation for the time being in force made under it.
    
	
 
    	
 
    	
 
    
	
1.4
    	
 
    	
Unless the   context otherwise requires, a reference to one gender shall include a   reference to the other genders.
    
	
 
    	
 
    	
 
    
	
1.5
    	
 
    	
Unless the   context otherwise requires, words in the singular include the plural and in   the plural include the singular.
    
	
 
    	
 
    	
 
    
	
1.6
    	
 
    	
The schedules to   this agreement form part of (and are incorporated into) this agreement.
    
	
 
    	
 
    	
 
    
	
2
    	
 
    	
Term   of appointment
    
	
 
    	
 
    	
 
    
	
2.1
    	
 
    	
The Company   shall employ the Employee and the Employee shall serve the Company on the   terms of this agreement.
    
	
 
    	
 
    	
 
    
	
2.2
    	
 
    	
The Appointment   shall be deemed to have commenced on the Commencement Date and shall   continue, subject to the remaining terms of this agreement, until terminated   by either party giving the other not less than six months’ prior notice in   writing.
    

 

5

 

	
2.3
    	
 
    	
The Employee   warrants that he is entitled to work in the United Kingdom without any   additional approvals and will notify the Company immediately if he ceases to   be so entitled during the Appointment.
    
	
 
    	
 
    	
 
    
	
2.4
    	
 
    	
The Employee   consents to the transfer of his employment under this agreement to an   Associated Employer at any time during the Appointment.
    
	
 
    	
 
    	
 
    
	
3
    	
 
    	
Duties
    
	
 
    	
 
    	
 
    
	
3.1
    	
 
    	
The Employee   shall serve the Company as Managing Director.
    
	
 
    	
 
    	
 
    
	
3.2
    	
 
    	
During the   Appointment the Employee shall:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.1
    	
unless prevented   by Incapacity, devote the whole of his time, attention and abilities to the   business of the Company;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.2
    	
diligently   exercise such powers and perform such duties as may from time to time be   assigned to him by the Company;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.3
    	
comply with all   reasonable and lawful directions given to him by the Company;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.4
    	
promptly make   such reports to the Chief Executive Officer of the Company’s parent, Smith   Electric Vehicles US Corp. in connection with the affairs of the Company on   such matters and at such times as are reasonably required;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.5
    	
report his own   wrongdoing and any wrongdoing or proposed wrongdoing of any other employee or   director of any Group Company to the Chief Technical Officer and Chief   Executive Officer of the Company’s parent, Smith Electric Vehicles US Corp.   immediately on becoming aware of it;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.6
    	
use his best   endeavours to promote, protect, develop and extend the business of any Group   Company;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.7
    	
consent to the   Company monitoring and recording any use that he makes of the Company’s   electronic communications systems for the purpose of ensuring that the   Company’s rules are being complied with and for legitimate business   purposes; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3.2.8
    	
comply with any   electronic communication systems policy that the Company may issue from time   to time.
    
	
 
    	
 
    	
 
    	
 
    
	
3.3
    	
 
    	
The Employee   shall comply with any rules, policies and procedures set out in the Staff   Handbook, a copy of which has been given to the Employee. The Staff Handbook   does not form part of this agreement and the Company may amend it at any   time. To the extent that there is any conflict between the terms of this   agreement and the Staff Handbook, this agreement shall prevail.
    
	
 
    	
 
    	
 
    
	
3.4
    	
 
    	
All documents,   manuals, hardware and software provided for the Employee’s use by the   Company, and any data or documents (including copies) produced, maintained or   stored on the Company’s computer systems or other electronic equipment   (including mobile phones), remain the property of the Company.
    

 

6

 

	
4
    	
 
    	
Place   of work
    
	
 
    	
 
    	
 
    
	
4.1
    	
 
    	
The Employee’s   normal place of work is The Vigo Centre, Birtley Road, Washington,   Tyne & Wear, NE38 9DA or such other place which the Company may   reasonably require for the proper performance and exercise of his duties,   which shall include facility locations.
    
	
 
    	
 
    	
 
    
	
4.2
    	
 
    	
The Employee   agrees to travel on the Company’s business (both within the United Kingdom   and abroad) as may be required for the proper performance of his duties under   the Appointment.
    
	
 
    	
 
    	
 
    
	
4.3
    	
 
    	
During the   Appointment the Employee shall not be required to work outside the United   Kingdom for any continuous period of more than two months.
    
	
 
    	
 
    	
 
    
	
5
    	
 
    	
Hours   of work
    
	
 
    	
 
    	
 
    
	
5.1
    	
 
    	
The Employee’s   normal working hours shall be 08.00 to 16.15 on Mondays to Thursdays and   08.00 to 15.00 on Fridays, with 30 minutes for lunch, and such additional   hours as are necessary for the proper performance of his duties. The Employee   acknowledges that he shall not receive further remuneration in respect of such   additional hours. The Employee agrees to execute an “Agreement to Opt Out of   Maximum Weekly Working Time”, as attached.
    
	
 
    	
 
    	
 
    
	
6
    	
 
    	
Salary   and Options
    
	
 
    	
 
    	
 
    
	
6.1
    	
 
    	
The Employee   shall be paid an initial salary of £130,000 per annum (“Base Salary”).
    
	
 
    	
 
    	
 
    
	
6.2
    	
 
    	
The Employee’s   salary shall accrue from day to day and be payable monthly in arrears on or   about the 21st of   each month directly into the Employee’s bank or building society.
    
	
 
    	
 
    	
 
    
	
6.3
    	
 
    	
The Employee’s   salary shall be reviewed by the Chief Executive Officer of the Company’s   parent, Smith Electric Vehicles US Corp. annually, the first such review to   take place on or about January 15 2012. The Company is under no   obligation to award an increase following a salary review. There will be no   review of the salary after notice has been given by either party to terminate   the Appointment.
    
	
 
    	
 
    	
 
    
	
6.4
    	
 
    	
The Company may   deduct from the salary, or any other sums owed to the Employee, any money   owed to the Company by the Employee.
    
	
 
    	
 
    	
 
    
	
6.5
    	
 
    	
The Employee   shall be eligible for a bonus equal to fifty percent (50%) of the Employee’s   base salary per annum, subject to the Employee accomplishing the identified   goals, at the discretion of the Chief Executive Officer of Smith Electric   Vehicles US Corp.
    
	
 
    	
 
    	
 
    
	
6.6
    	
 
    	
Employee will be   issued stock options in a separate stock option or incentive plan (Incentive   Stock Option Agreement) which will provide 60,000 stock options in the   Company as further defined in said Plan, (Employee Options). Employee may   participate in additional stock, stock option, or stock incentive programs   offered by the Company (Programs), as permitted by law. In the event Employee   is entitled to participate in such Programs, the Employee shall comply with   all laws and regulations governing said program. With respect to said Programs,   the Employee agrees to execute any instruments or documents governing the   repurchase of the stock upon termination of this Agreement and take all other   actions reasonably requested by the Company in order to affect the issuance   of Employee’s shares.
    

 

7

 

	
 
    	
 
    	
In regard to said Employee Options, commencing on the Commencement   Date the options shall be vested and shall be exercisable by the Employee as   defined in said Stock Option Agreement. The exercise price for the Employee   Options shall be $12.04 (USD).
    
	
 
    	
 
    	
 
    
	
7
    	
 
    	
Expenses
    
	
 
    	
 
    	
 
    
	
7.1
    	
 
    	
The Company   shall reimburse (or procure the reimbursement of) all reasonable expenses   wholly, properly and necessarily incurred by the Employee in the course of   the Appointment, subject to production of receipts or other appropriate   evidence of payment.
    
	
 
    	
 
    	
 
    
	
7.2
    	
 
    	
The Employee   shall abide by the Company’s policies on expenses as communicated to him from   time to time.
    
	
 
    	
 
    	
 
    
	
7.3
    	
 
    	
Any credit card   supplied to the Employee by the Company shall be used only for expenses   incurred by him in the course of the Appointment.
    
	
 
    	
 
    	
 
    
	
8
    	
 
    	
Life   assurance
    
	
 
    	
 
    	
 
    
	
8.1
    	
 
    	
The Employee   shall be entitled to participate in the Company’s life assurance scheme which   shall pay to the Employee’s dependents a sum equal to four times the   Employee’s salary if the Employee dies during the Appointment. Participation   is subject to:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
8.1.1
    	
the terms of the   Company’s life assurance scheme, as amended from time to time;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
8.1.2
    	
the   rules or the insurance policy of the relevant insurance provider, as   amended from time to time; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
8.1.3
    	
the Employee   satisfying the normal underwriting requirements of the relevant insurance   provider and the premium being at a rate which the Company considers   reasonable.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Full details of   the scheme are available from Human Resources Manager.
    
	
 
    	
 
    	
 
    
	
8.2
    	
 
    	
If the insurance   provider refuses for any reason to provide life assurance benefit to the   Employee the Company shall not be liable to provide to the Employee any   replacement benefit of the same or similar kind or to pay any compensation in   lieu of such benefit.
    
	
 
    	
 
    	
 
    
	
8.3
    	
 
    	
The Company in   its sole and absolute discretion reserves the right to discontinue, vary or   amend its life assurance scheme (including the level of the Employee’s cover)   at any time on reasonable notice to the Employee.
    
	
 
    	
 
    	
 
    
	
9
    	
 
    	
Private   medical insurance
    
	
 
    	
 
    	
 
    
	
9.1
    	
 
    	
The Employee and   the Employee’s family shall be entitled to participate in the Company’s   private medical insurance scheme with an appropriate healthcare provider   subject to:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
9.1.1
    	
the terms of that scheme, as amended from time to time;
    

 

8

 

	
 
    	
 
    	
9.1.2
    	
the   rules or insurance policy of the relevant insurance provider, as amended   from time to time; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
9.1.3
    	
the Employee and   his spouse or civil partner and any children under the age of 18 satisfying   the normal underwriting requirements of the relevant insurance provider and   the premium being at a rate which the Company considers reasonable.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Full details of the Company’s private medical insurance scheme are   available from Human Resources Manager.
    
	
 
    	
 
    	
 
    
	
9.2
    	
 
    	
If the insurance   provider refuses for any reason to provide private medical insurance benefit   to the Employee or to the Employee’s family the Company shall not be liable   to provide any replacement benefit of the same or similar kind or to pay any   compensation in lieu of such benefit.
    
	
 
    	
 
    	
 
    
	
9.3
    	
 
    	
The Company in   its sole and absolute discretion reserves the right to discontinue, vary or   amend the scheme (including the level of the Employee’s cover) at any time on   reasonable notice to the Employee.
    
	
 
    	
 
    	
 
    
	
10
    	
 
    	
Car   allowance
    
	
 
    	
 
    	
 
    
	
10.1
    	
 
    	
Provided that   the Employee holds a current driving licence, the Employee shall receive a   car allowance for use of the Employee’s own car of £12,000 per annum which   shall be payable together with and in the same manner as the salary in   accordance with clause 6. The car allowance shall not be treated as part of   the basic salary for any purpose and shall not be pensionable.
    
	
 
    	
 
    	
 
    
	
10.2
    	
 
    	
The Company   shall reimburse the Employee in respect of fuel costs for business use by   submission of mileage travelled based upon the current company allowances   available through Human Resources.
    
	
 
    	
 
    	
 
    
	
10.3
    	
 
    	
The Employee   shall immediately inform the Company if he is disqualified from driving and   shall cease to be entitled to receive the allowance under clause 10.1 or   reimbursement of fuel expenses under clause 10.2.
    
	
 
    	
 
    	
 
    
	
11
    	
 
    	
Holidays
    
	
 
    	
 
    	
 
    
	
11.1
    	
 
    	
The Employee   shall be entitled to 25 days’ paid holiday in each holiday year together with   the usual public holidays in England and Wales or days in lieu where the   Company requires you to work on a public holiday, plus 1 day for every future   year of employment commencing on the Commencement Date of this Agreement. The   Company’s holiday year runs between 1 January and 31 December. If the   Appointment commences or terminates part way through a holiday year, the   Employee’s entitlement during that holiday year shall be calculated on a   pro-rata basis rounded up to the nearest whole day.
    
	
 
    	
 
    	
 
    
	
11.2
    	
 
    	
Holiday shall be   taken at such time or times as shall be approved in advance by the Chief   Technical Officer of the parent company. The Employee shall not without the   consent of Human Relations Manager carry forward any accrued but untaken   holiday entitlement to a subsequent holiday year unless the Employee has been   unavoidably prevented from taking such holiday during the relevant leave year   by virtue of a period of statutory maternity, paternity or adoption leave.
    

 

9

 

	
11.3
    	
 
    	
The Employee   shall have no entitlement to any payment in lieu of accrued but untaken   holiday save on termination of the Appointment. Subject to clause 11.4 the   amount of such payment in lieu shall be 1/260th of the Employee’s salary for   each untaken day of the Employee’s entitlement under clause 11.1 for the   holiday year in which termination takes place and any untaken days carried   forward from the preceding holiday year.
    
	
 
    	
 
    	
 
    
	
11.4
    	
 
    	
If the Company   has terminated or would be entitled to terminate the Appointment pursuant to   clause 16 or if the Employee has terminated the Appointment in breach of   clause 2.2 any payment due under clause 11.3 shall be limited to the   Employee’s statutory entitlement under the Working Time Regulations 1998 and   any paid holidays (including paid public holidays) taken shall be deemed   first to have been taken in satisfaction of that statutory entitlement.
    
	
 
    	
 
    	
 
    
	
11.5
    	
 
    	
If on   termination of the Appointment the Employee has taken in excess of his   accrued holiday entitlement, the Company shall be entitled to recover from   the Employee by way of deduction from any payments due to the Employee or   otherwise one day’s pay calculated at 1/260th of the Employee’s salary for   each excess day.
    
	
 
    	
 
    	
 
    
	
11.6
    	
 
    	
If either party   has served notice to terminate the Appointment, the Company may require the   Employee to take any accrued but unused holiday entitlement during the notice   period. Any accrued but unused holiday entitlement shall be deemed to be   taken during any period of Garden Leave under clause 17.
    
	
 
    	
 
    	
 
    
	
12
    	
 
    	
Incapacity
    
	
 
    	
 
    	
 
    
	
12.1
    	
 
    	
Subject to the   Employee’s compliance with the Company’s sickness absence procedures (as   amended from time to time), he shall continue to receive his full salary and   contractual benefits during any period of absence due to Incapacity for up to   an aggregate of 4.3 weeks for each 52 week period of service commencing 16th   April 2007. Such payment shall be inclusive of any statutory sick pay   due in accordance with applicable legislation in force at the time of   absence.
    
	
 
    	
 
    	
 
    
	
12.2
    	
 
    	
The Employee   agrees to consent to medical examinations (at the Company’s expense) by a   doctor nominated by the Company should the Company so require. The Employee   agrees that any report produced in connection with any such examination may   be disclosed to the Company and the Company may discuss the contents of the   report with the relevant doctor.
    
	
 
    	
 
    	
 
    
	
12.3
    	
 
    	
If the   Incapacity is or appears to be occasioned by actionable negligence, nuisance   or breach of any statutory duty on the part of a third party in respect of   which damages are or may be recoverable, the Employee shall immediately   notify the Company of that fact and of any claim, compromise, settlement or   judgment made or awarded in connection with it and all relevant particulars   that the Company may reasonably require. The Employee shall if required by   the Company, refund to the Company that part of any damages or compensation   recovered by him relating to the loss of earnings for the period of the   Incapacity as the Company may reasonably determine less any costs borne by   him in connection with the recovery of such damages or compensation, provided   that the amount to be refunded shall not exceed the total amount paid to the   Employee by the Company in respect of the period of Incapacity.
    
	
 
    	
 
    	
 
    
	
12.4
    	
 
    	
The Company may   terminate the Appointment by giving the notice specified in clause 2.12 or   under clause 16 even when, as a result of such termination, the Employee   would or might forfeit any entitlement to benefit from sick pay under clause   12.
    

 

10

 

	
13
    	
 
    	
Outside   interests
    
	
 
    	
 
    	
 
    
	
13.1
    	
 
    	
Subject to   clause 13.2, during the Appointment the Employee shall not, except as a   representative of the Company or with the prior written approval of the   Company, whether paid or unpaid, be directly or indirectly engaged, concerned   or have any financial interest in any Capacity in any other business, trade,   profession or occupation (or the setting up of any business, trade,   profession or occupation), however the employee may serve on the board of   directors of and hold any office or position in companies or organizations   which, in the Company’s judgement will not present any conflict of interest.
    
	
 
    	
 
    	
 
    
	
13.2
    	
 
    	
Notwithstanding   clause 13.1, the Employee may hold an investment by way of shares or other   securities of not more than 5% of the total issued share capital of any   company (whether or not it is listed or dealt in on a recognised stock   exchange) where such company does not carry on a business similar to or   competitive with any business for the time being carried on by any Group   Company. For clarity, the business of the Company is all-electric commercial   truck engineering, design, manufacturing, assembly, marketing, sales, and   service.
    
	
 
    	
 
    	
 
    
	
13.3
    	
 
    	
The Employee   agrees to disclose to the Company any matters relating to his spouse or civil   partner (or anyone living as such), children or parents which may, in the   reasonable opinion of the Company, be considered to interfere, conflict or   compete with the proper performance of the Employee’s obligations under this   agreement.
    
	
 
    	
 
    	
 
    
	
14
    	
 
    	
Confidential   information
    
	
 
    	
 
    	
 
    
	
14.1
    	
 
    	
The Employee   acknowledges that in the course of the Appointment he will have access to   Confidential Information. The Employee has therefore agreed to accept the   restrictions in this clause 144.
    
	
 
    	
 
    	
 
    
	
14.2
    	
 
    	
The Employee shall   not (except in the proper course of his duties), either during the   Appointment or at any time after its termination (howsoever arising), use or   disclose to any person, company or other organisation whatsoever (and shall   use his best endeavours to prevent the publication or disclosure of) any   Confidential Information. This shall not apply to:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
14.2.1
    	
any use or   disclosure authorised by the Board or required by law; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
14.2.2
    	
any information   which is already in, or comes into, the public domain other than through the   Employee’s unauthorised disclosure; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
14.2.3
    	
any protected   disclosure within the meaning of section 43A of the Employment Rights Act   1996.
    
	
 
    	
 
    	
 
    	
 
    
	
15
    	
 
    	
Intellectual   property
    
	
 
    	
 
    	
 
    
	
15.1
    	
 
    	
The Employee   acknowledges that all Employment IPRs, Employment Inventions and all   materials embodying them shall automatically belong to the Company to the   fullest extent permitted by law. To the extent that they do not vest in the   Company automatically, the Employee holds them on trust for the Company.
    
	
 
    	
 
    	
 
    
	
15.2
    	
 
    	
The Employee   acknowledges that, because of the nature of his duties and the particular   responsibilities arising from the nature of his duties, he has, and shall   have at all times while he is employed by the Company, a special obligation   to further the interests of the Company.
    

 

11

 

	
15.3
    	
 
    	
To the extent   that legal title in any Employment IPRs or Employment Inventions does not   vest in the Company by virtue of clause 15.1, the Employee agrees,   immediately upon creation of such rights and Inventions, to offer to the   Company in writing a right of first refusal to acquire them on arm’s length   terms to be agreed between the parties. The Employee agrees that the   provisions of this clause 155 shall apply to all Employment IPRs and   Employment Inventions offered to the Company under this clause 15.3 until   such time as the Company has agreed in writing that the Employee may offer   them for sale to a third party.
    
	
 
    	
 
    	
 
    
	
15.4
    	
 
    	
The Employee   agrees:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
15.4.1
    	
to give the   Company full written details of all Employment Inventions which relate to or   are capable of being used in the business of any Group Company promptly on   their creation;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
15.4.2
    	
at the Company’s   request and in any event on the termination of his employment to give to the   Company all originals and copies of correspondence, documents, papers and   records on all media which record or relate to any of the Employment IPRs;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
15.4.3
    	
not to attempt   to register any Employment IPR nor patent any Employment Invention unless   requested to do so by the Company; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
15.4.4
    	
to keep   confidential each Employment Invention unless the Company has consented in   writing to its disclosure by the Employee.
    
	
 
    	
 
    	
 
    	
 
    
	
15.5
    	
 
    	
The Employee   waives all his present and future moral rights which arise under the   Copyright Designs and Patents Act 1988, and all similar rights in other   jurisdictions relating to any copyright which forms part of the Employment   IPRs, and agrees not to support, maintain nor permit any claim for   infringement of moral rights in such copyright works.
    
	
 
    	
 
    	
 
    
	
15.6
    	
 
    	
The Employee   acknowledges that, except as provided by law, no further remuneration or   compensation other than that provided for in this agreement is or may become   due to the Employee in respect of his compliance with this clause. This   clause is without prejudice to the Employee’s rights under the Patents Act   1977.
    
	
 
    	
 
    	
 
    
	
15.7
    	
 
    	
The Employee   undertakes to use his best endeavours to execute all documents and do all   acts both during and after his employment by the Company as may, in the   opinion of the Company be necessary or desirable to vest the Employment IPRs   in the Company, to register them in the name of the Company and to protect   and maintain the Employment IPRs and the Employment Inventions. Such   documents may, at the Company’s request, include waivers of all and any   statutory moral rights relating to any copyright works which form part of the   Employment IPRs. The Company agrees to reimburse the Employee’s reasonable   expenses of complying with this clause 15.7.
    
	
 
    	
 
    	
 
    
	
15.8
    	
 
    	
The Employee   agrees to give all necessary assistance to the Company to enable it to   enforce its Intellectual Property Rights against third parties, to defend   claims for infringement of third party Intellectual Property Rights and to   apply for registration of Intellectual Property Rights, where appropriate   throughout the world, and for the full term of those rights.
    
	
 
    	
 
    	
 
    
	
15.9
    	
 
    	
The Employee   hereby irrevocably appoints the Company to be his attorney to execute and do   any such instrument or thing and generally to use his name for the purpose of
    

 

12

 

	
 
    	
 
    	
giving the Company or its nominee the benefit of this clause 155. The   Employee acknowledges in favour of a third party that a certificate in   writing signed by any Director or the Secretary of the Company that any   instrument or act falls within the authority conferred by this clause 15   shall be conclusive evidence that such is the case.
    
	
 
    	
 
    	
 
    
	
15.10
    	
 
    	
The Employee   shall be eligible to participate in any intellectual property incentive   programs developed by the Company.
    
	
 
    	
 
    	
 
    
	
16
    	
 
    	
Termination
    
	
 
    	
 
    	
 
    
	
16.1
    	
 
    	
Notwithstanding   clause 2.12, the Company may, in its sole and absolute discretion, terminate   the Appointment at any time and with immediate effect by paying a sum in lieu   of notice (Payment in Lieu) equal to the basic salary (as at the date of   termination) which the Employee would have been entitled to receive under   this agreement during the notice period referred to at clause 2.12 (or, if   notice has already been given, during the remainder of the notice period)   less income tax and National Insurance contributions. For the avoidance of   doubt, the Payment in Lieu shall not include any element in relation to:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.1.1
    	
any bonus or   commission payments that might otherwise have been due during the period for   which the Payment in Lieu is made;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.1.2
    	
any payment in   respect of benefits which the Employee would have been entitled to receive   during the period for which the Payment in Lieu is made, but specifically   excluding private healthcare insurance, life insurance, and car allowance.   The 6 month total value of these benefits shall be included in any Payment in   Lieu; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.1.3
    	
any payment in   respect of any holiday entitlement that would have accrued during the period   for which the Payment in Lieu is made.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.1.4
    	
The Company may   pay any sums due under clause 16.1 in equal monthly instalments until the   date on which the notice period referred to at clause 2.12 would have expired   if notice had been given.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.1.5
    	
The Employee   shall have no right to receive a Payment in Lieu unless the Company has   exercised its discretion in clause 16.1. Nothing in this clause 16 shall   prevent the Company from terminating the Appointment in breach.
    
	
 
    	
 
    	
 
    
	
16.2
    	
 
    	
The Company may also terminate the   Appointment with immediate effect without notice and with no liability to   make any further payment to the Employee (other than in respect of amounts   accrued due at the date of termination) if the Employee:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.2.1
    	
is guilty of any   gross misconduct affecting the business of any Group Company; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.2.2
    	
commits any   serious or repeated breach or non-observance of any of the provisions of this   agreement or refuses or neglects to comply with any reasonable and lawful   directions of the Company; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.2.3
    	
is convicted of   any criminal offence (other than an offence under any road traffic   legislation in the United Kingdom or elsewhere for which a fine or   non-custodial penalty is imposed); or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.2.4
    	
ceases to be   eligible to work in the United Kingdom; or
    

 

13

 

	
 
    	
 
    	
16.2.5
    	
is guilty of any   fraud or dishonesty or acts in any manner which in the opinion of the Company   brings or is likely to bring the Employee or any Group Company into disrepute   or is materially adverse to the interests of any Group Company; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
16.2.6
    	
is guilty of a   serious breach of any rules issued by the Company from time to time   regarding its electronic communications systems.
    
	
 
    	
 
    	
 
    	
 
    
	
16.3
    	
 
    	
The rights of   the Company under clause 16.2 are without prejudice to any other rights that   it might have at law to terminate the Appointment or to accept any breach of   this agreement by the Employee as having brought the agreement to an end. Any   delay by the Company in exercising its rights to terminate shall not   constitute a waiver thereof.
    
	
 
    	
 
    	
 
    
	
17
    	
 
    	
Garden   leave
    
	
 
    	
 
    	
 
    
	
17.1
    	
 
    	
Following   service of notice to terminate the Appointment by either party, or if the   Employee purports to terminate the Appointment in breach of contract, or, if   the Company so decides, at any time during the Appointment the Company may by   written notice require the Employee not to perform any services (or to   perform only specified services) for the Company or any Group Company until   the termination of the Appointment or a specified date.
    
	
 
    	
 
    	
 
    
	
17.2
    	
 
    	
During any   period of Garden Leave the Company shall be under no obligation to provide   any work to, or vest any powers in, the Employee, who shall have no right to   perform any services for the Company or any Group Company.
    
	
 
    	
 
    	
 
    
	
17.3
    	
 
    	
During any   period of Garden Leave the Employee shall:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
17.3.1
    	
continue to receive his salary and all contractual benefits in the   usual way and subject to the terms of any benefit arrangement;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
17.3.2
    	
remain an employee of the Company and bound by the terms of this   agreement;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
17.3.3
    	
not, without the prior written consent of the Chief Technical   Officer, attend his place of work or any other premises of the Company or any   Group Company;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
17.3.4
    	
not, without the prior written consent of the Chief Technical   Officer, contact or deal with (or attempt to contact or deal with) any   officer, employee, consultant, client, customer, supplier, agent,   distributor, shareholder, adviser or other business contact of the Company or   any Group Company; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
17.3.5
    	
(except during any periods taken as holiday in the usual way) ensure   that the Chief Technical Officer knows where he will be and how he can be   contacted during each working day and shall comply with any written requests   to contact a specified employee of the Company at specified intervals.
    
	
 
    	
 
    	
 
    
	
18
    	
 
    	
Obligations   upon termination
    
	
 
    	
 
    	
 
    
	
18.1
    	
 
    	
On termination   of the Appointment (howsoever arising) or, if earlier, at the start of a   period of Garden Leave following the service of notice or purported   termination of the Appointment by the Employee, the Employee shall:
    
					

 

14

 

	
 
    	
 
    	
18.1.1
    	
subject to   clause 18.2, immediately deliver to the Company all documents, books,   materials, records, correspondence, papers and information (on whatever media   and wherever located) relating to the business or affairs of any Group   Company their business contacts, any keys, credit card and any other property   of any Group Company, which is in his possession or under his control;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
18.1.2
    	
irretrievably   delete any information relating to the business of any Group Company stored   on any magnetic or optical disk or memory and all matter derived from such   sources which is in his possession or under his control outside the Company’s   premises; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
18.1.3
    	
provide a signed   statement that he has complied fully with his obligations under this clause   18.1.
    
	
 
    	
 
    	
 
    	
 
    
	
18.2
    	
 
    	
Where the   Employee has been placed on Garden Leave he shall not be required by 18.1 to   return until the end of the Garden Leave period any property provided to him   as a contractual benefit for use during the Appointment.
    
	
 
    	
 
    	
 
    
	
18.3
    	
 
    	
The Employee   hereby irrevocably appoints the Company to be his attorney to execute and do   any such instrument or thing and generally to use his name for the purpose of   giving the Company or its nominee the full benefit of clause 18.1.1.
    
	
 
    	
 
    	
 
    
	
18.4
    	
 
    	
On termination   of the Appointment howsoever arising the Employee shall not be entitled to   any compensation for the loss of any rights or benefits under any share   option, bonus, long-term incentive plan or other profit sharing scheme   operated by any Group Company in which he may participate.
    
	
 
    	
 
    	
 
    
	
19
    	
 
    	
Post-termination   restrictions
    
	
 
    	
 
    	
 
    
	
19.1
    	
 
    	
In order to   protect the confidential information, trade secrets and business connections   of the Company and each Group Company to which he has access as a result of   the Appointment, the Employee covenants with the Company (for itself and as   trustee and agent for each Group Company) that he shall not:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.1.1
    	
for 6 months   after Termination solicit or endeavour to entice away from the Company or any   Group Company the business or custom of a Restricted Customer with a view to   providing goods or services to that Restricted Customer in competition with   any Restricted Business; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.1.2
    	
for 6 months   after Termination in the course of any business concern which is in   competition with any Restricted Business, offer to employ or engage or   otherwise endeavour to entice away from the Company or any Group Company any   Restricted Person; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.1.3
    	
for 6 months   after Termination, be involved in any Capacity with any business concern   which is (or intends to be) in competition with any Restricted Business; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.1.4
    	
for 6 months   after Termination be involved with the provision of goods or services to (or   otherwise have any business dealings with) any Restricted Customer in the   course of any business concern which is in competition with any Restricted   Business; or
    
					

 

15

 

	
 
    	
 
    	
19.1.5
    	
at any time after Termination, represent himself as connected with   the Company or any Group Company in any Capacity.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.1.6
    	
In the event the Employee leaves or quits his employment with the   Company, or is terminated for cause, the restricted period of time set forth   in 19.1.1 through 19.1.4 shall increase from 6 months to 12 twelve months.
    
	
 
    	
 
    	
 
    	
 
    
	
19.2
    	
 
    	
None of the restrictions in clause 19.1 shall prevent the Employee   from:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.2.1
    	
holding an   investment by way of shares or other securities of not more than 5% of the   total issued share capital of any company, whether or not it is listed or   dealt in on a recognised stock exchange; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.2.2
    	
being engaged or   concerned in any business concern insofar as the Employee’s duties or work   shall relate solely to geographical areas where the business concern is not   in competition with any Restricted Business; or
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.2.3
    	
being engaged or   concerned in any business concern, provided that the Employee’s duties or   work shall relate solely to services or activities of a kind with which the   Employee was not concerned to a material extent in the 12 months prior to   Termination.
    
	
 
    	
 
    	
 
    	
 
    
	
19.3
    	
 
    	
The restrictions imposed on the Employee by this clause 19 apply to   him acting: 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.3.1
    	
directly or indirectly; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
19.3.2
    	
on his own behalf or on behalf of, or in conjunction with, any firm,   company or person.
    
	
 
    	
 
    	
 
    	
 
    
	
19.4
    	
 
    	
The periods for   which the restrictions in clause 19.1 apply shall be reduced by any period   that the Employee spends on Garden Leave immediately prior to Termination.
    
	
 
    	
 
    	
 
    
	
19.5
    	
 
    	
If the Employee   receives an offer to be involved in a business concern in any Capacity during   the Appointment, or prior to the expiry of the last of the covenants in this   clause 19, the Employee shall give the person making the offer a copy of this   clause 19 and shall tell the Company the identity of that person as soon as   possible after accepting the offer.
    
	
 
    	
 
    	
 
    
	
19.6
    	
 
    	
The Employee   acknowledges that he has been given the opportunity to seek independent legal   advice and has declined to do so.
    
	
 
    	
 
    	
 
    
	
19.7
    	
 
    	
Each of the   restrictions in this clause 19 is intended to be separate and severable. If   any of the restrictions shall be held to be void but would be valid if part   of their wording were deleted, such restriction shall apply with such   deletion as may be necessary to make it valid or effective.
    
	
 
    	
 
    	
 
    
	
19.8
    	
 
    	
The Employee   will, at the request and expense of the Company, enter into a separate   agreement with any Group Company in which he agrees to be bound by   restrictions corresponding to those restrictions in this clause 19 (or such   of those restrictions as may be appropriate) in relation to that Group   Company.
    

 

16

 

	
20
    	
 
    	
Disciplinary   and grievance procedures
    
	
 
    	
 
    	
 
    
	
20.1
    	
 
    	
The Employee is   subject to the Company’s disciplinary and grievance procedures, copies of   which are available from the Human Relations Manager. These procedures do not   form part of the Employee’s contract of employment.
    
	
 
    	
 
    	
 
    
	
20.2
    	
 
    	
If the Employee   wishes to appeal against a disciplinary decision he may apply in writing to   the Human Relations Manager in accordance with the Company’s disciplinary   procedure.
    
	
 
    	
 
    	
 
    
	
20.3
    	
 
    	
The Company may   at any time suspend the Employee during any period in which the Company is   carrying out a disciplinary investigation into any alleged acts or defaults   of the Employee. During any period of suspension the Employee shall continue   to receive his salary and contractual benefits.
    
	
 
    	
 
    	
 
    
	
20.4
    	
 
    	
If the Employee   wishes to raise a grievance, he may apply in writing to the Human Relations   Manager in accordance with the Company’s grievance procedure.
    
	
 
    	
 
    	
 
    
	
21
    	
 
    	
Pensions
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Where there is a   stakeholder pension scheme to which the employer contributes
    
	
 
    	
 
    	
 
    
	
21.1
    	
 
    	
The Employee may   join the Company’s stakeholder pension scheme (Scheme) (or such other   registered pension scheme as may be set up by the Company to replace the   Scheme) subject to satisfying certain eligibility criteria and subject to the   rules of the Scheme as amended from time to time. Full details of the   Scheme are available from the Human Relations Manager.
    
	
 
    	
 
    	
 
    
	
21.2
    	
 
    	
If the Employee   joins the Scheme, the Company shall contribute an amount equal to 10.0% of   the Employee’s salary to the Scheme during each year of the Appointment. The   Company’s contributions to the Scheme shall be payable in equal monthly   instalments in arrears, and shall be subject to the rules of the Scheme   and the tax reliefs and exemptions available from HM Revenue &   Customs, as amended from time to time.
    
	
 
    	
 
    	
 
    
	
21.3
    	
 
    	
The Employee may   make contributions to the scheme of an amount up to the lower of 100% of the   Employee’s salary and the annual allowance set by HM Revenue &   Customs from time to time. Such contributions shall be payable in equal   monthly instalments in arrears and shall be made by way of deduction from the   Employee’s salary.
    
	
 
    	
 
    	
 
    
	
22
    	
 
    	
Data   protection
    
	
 
    	
 
    	
 
    
	
22.1
    	
 
    	
The Employee   confirms he has read and understood the Company’s data protection policy, a   copy of which is contained in the Staff Handbook. The Company may change its   data protection policy at any time and will notify employees in writing of   any changes.
    
	
 
    	
 
    	
 
    
	
22.2
    	
 
    	
The Employee   shall comply with the data protection policy when processing personal data in   the course of employment including personal data relating to any employee,   customer, client, supplier or agent of any Group Company.
    
	
 
    	
 
    	
 
    
	
22.3
    	
 
    	
The Employee   consents to any Group Company processing data relating to the Employee for   legal, personnel, administrative and management purposes and in particular to   the processing of any sensitive personal data (as defined in the Data   Protection Act 1998) relating to the Employee, including, as appropriate:
    

 

17

 

	
 
    	
 
    	
22.3.1
    	
information   about the Employee’s physical or mental health  or   condition in order to monitor sick leave and take decisions as to the   Employee’s fitness for work;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
22.3.2
    	
the Employee’s   racial or ethnic origin or religious or similar information in order to   monitor compliance with equal opportunities legislation;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
22.3.3
    	
information   relating to any criminal proceedings in which the Employee has been involved   for insurance purposes and in order to comply with legal requirements and   obligations to third parties; and
    
	
 
    	
 
    	
 
    	
 
    
	
22.4
    	
 
    	
The Company may   make such information available to any Group Company, those who provide   products or services to any Group Company (such as advisers and payroll   administrators), regulatory authorities, potential or future employers,   governmental or quasi-governmental organisations and potential purchasers of   the Company or the business in which the Employee works.
    
	
 
    	
 
    	
 
    
	
22.5
    	
 
    	
The Employee   consents to the transfer of such information to any Group Company and any   Group Company’s business contacts outside the European Economic Area in order   to further their business interests even where the country or territory in   question does not maintain adequate data protection standards.
    
	
 
    	
 
    	
 
    
	
23
    	
 
    	
Collective   agreement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
There is no   collective agreement which directly affects the Appointment.
    
	
 
    	
 
    	
 
    
	
24
    	
 
    	
Reconstruction   and amalgamation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
If the   Appointment is terminated at any time by reason of any reconstruction or   amalgamation of the Company or any Group Company, whether by winding up or   otherwise, and the Employee is offered employment with any concern or   undertaking involved in or resulting from such reconstruction or amalgamation   on terms which (considered in their entirety) are no less favourable to any   material extent than the terms of this agreement, the Employee shall have no   claim against the Company or any such undertaking arising out of or connected   with such termination.
    
	
 
    	
 
    	
 
    
	
25
    	
 
    	
Notices
    
	
 
    	
 
    	
 
    
	
25.1
    	
 
    	
Any notice given   under this agreement shall be in writing and signed by or on behalf of the   party giving it and shall be served by delivering it personally, or sending   it by pre-paid recorded delivery or registered post to the relevant party at   (in the case of the Company) its registered office for the time being and (in   the case of the Employee) his last known address, or by sending it by fax to   the fax number notified by the relevant party to the other party. Any such   notice shall be deemed to have been received:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
25.1.1
    	
if delivered   personally, at the time of delivery;
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
25.1.2
    	
in the case of   pre-paid recorded delivery or registered post, 48 hours from the date of   posting; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
25.1.3
    	
in the case of   fax, at the time of transmission.
    
	
 
    	
 
    	
 
    
	
25.2
    	
 
    	
In proving such service it shall be sufficient to prove that the   envelope containing such notice was addressed to the address of the relevant   party and delivered either to that address or into the custody of the postal   authorities as a pre-paid recorded delivery or
    

 

18

 

	
 
    	
 
    	
registered post or that the notice was transmitted by fax to the fax   number of the relevant party).
    
	
 
    	
 
    	
 
    
	
26
    	
 
    	
Entire   agreement and previous contracts
    
	
 
    	
 
    	
 
    
	
26.1
    	
 
    	
Each party on behalf of itself (and in the case of the Company, as   agent for any Group Companies) acknowledges and agrees with the other party   (the Company acting on behalf of itself and as agent for each Group Company)   that:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
26.1.1
    	
this agreement   constitutes the entire agreement and understanding between the Employee and   the Company and any Group Company and supersedes any previous agreement   between them relating to the Appointment (which shall be deemed to have been   terminated by mutual consent);
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
26.1.2
    	
in entering into   this agreement neither party nor any Group Company has relied on any   Pre-Contractual Statement; and
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
26.1.3
    	
the only remedy   available to each party for breach of this agreement shall be for breach of   contract under the terms of this agreement and no party shall have any right   of action against any other party in respect of any Pre- Contractual   Statement.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Nothing in this agreement shall, however, operate to limit or exclude   any liability for fraud.
    
	
 
    	
 
    	
 
    
	
27
    	
 
    	
Variation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
No variation of   this agreement shall be valid unless it is in writing and signed by or on   behalf of each of the parties.
    
	
 
    	
 
    	
 
    
	
28
    	
 
    	
Counterparts
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
This agreement   may be executed in any number of counterparts, each of which, when executed,   shall be an original, and all the counterparts together shall constitute one   and the same instrument.
    
	
 
    	
 
    	
 
    
	
29
    	
 
    	
Third   party rights
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
The Contracts   (Rights of Third Parties) Act 1999 shall not apply to this agreement and no   person other than the Employee and the Company shall have any rights under   it. The terms of this agreement or any of them may be varied, amended or   modified or this agreement may be suspended, cancelled or terminated by   agreement in writing between the parties or this agreement may be rescinded   (in each case), without the consent of any third party.
    
	
 
    	
 
    	
 
    
	
30
    	
 
    	
Governing law and jurisdiction
    
	
 
    	
 
    	
 
    
	
30.1
    	
 
    	
This agreement   and any dispute or claim arising out of or in connection with it or its   subject matter or formation (including non-contractual disputes or claims)   shall be governed by and construed in accordance with English law.
    
	
 
    	
 
    	
 
    
	
30.2
    	
 
    	
The parties   irrevocably agree that the courts of England and Wales shall have exclusive   jurisdiction to settle any dispute or claim that arises out of or in   connection
    

 

19

 

	
 
    	
 
    	
with this agreement or its subject matter or formation (including   non-contractual disputes or claims).
    

 

This document has been executed as a deed and is delivered and takes effect on the date stated at the beginning of it.

 

	
Executed as a deed by Smith Electric
    	
 
    	
/s/ Robin Mackie
    
	
Vehicles Europe Limited acting by
    	
 
    	
Robin Mackie, Director
    
	
Robin Mackie, a director
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signed as a deed by Geoff Allison In the
    	
 
    	
/s/ Geoff Allison
    
	
presence of:
    	
 
    	
Geoff Allison
    
	
 
    	
 
    	
 
    
	
/s/ M. Atkinson
    	
 
    	
 
    
	
Signature of Witness
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Maisie Atkinson
    	
 
    	
 
    
	
Print Name of Witness
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Address of Witness
    	
 
    	
 
    
	
44 Lisle Road

South Shields

Tyne-Wear

NE34 6DQ
    	
 
    	
 
    

 

20

 

Working Time Directive Opt-Out Form

 

Agreement to opt out of the regulation 4(1) of the Working Time Regulations 1998 about maximum weekly working time of 48hours.

 

1.               I agree with the company that the regulation 4(1) of the Working Time Regulations 1998 shall not apply to me and that my average working time may therefore exceed 48 hours for each seven day period (as defined by and calculated in accordance with the Working Time Regulations 1998 i.e. averaged over 17 weeks).

 

2.               This agreement will apply immediately and I understand that I may end the agreement by giving the company 3 months notice in writing of my intention to do so.

 

 

	
Employee   Name:
    	
GEOFF ALLISON
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Employee   Signature :
    	
/s/   Geoff Allison
    	
 
    	
Date:
    	
20.1.2012
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Signed:
    	
/s/   Lynn Waggott
    	
 
    	
Date:
    	
20/01/12
    
	
(On behalf of Smith Electric   Vehicles Europe Ltd)
    	
 
    	
 
    	
 
    
							

 

	
HR025   - WTD Opt Out
    	

    
	
Amended   19th September 2006

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