Document:

Exhibit 10.7 Amendment to WABCO Holdings Inc. 2009 Omnibus Incentive Plan

AMENDMENT NO. 1
TO
WABCO HOLDINGS INC. 2009 OMNIBUS INCENTIVE PLAN

WHEREAS, WABCO Holdings Inc. (the “Company”) adopted the WABCO Holdings Inc. 2009 Omnibus Incentive Plan (the “Plan”);

WHEREAS, under Section 11 of the Plan, the Board of Directors of the Company (the “Board”) has the authority to amend the Plan; and

WHEREAS, the Compensation, Governance and Nominating Committee of the Board, as the administrator of the Plan, has determined that it is in the best interest of the Company and its shareholders to amend the Plan on the terms set forth herein.

NOW, THEREFORE, the Plan shall be amended as follows, effective as of January 1, 2012:
		
	1.
	Section 1 of the Plan shall be amended to add the following after the word “Employees” in such Section:

“or independent business managers”

		
	2.
	Section 2.1(g)(i) of the Plan shall be amended to add the following after the word “Employees” in such Section:

“or independent business managers”

		
	3.
	Section 4.1 of the Plan shall be amended to delete the last sentence of such Section in its entirety and replacing it with the following:

“Notwithstanding anything else contained in the Plan to the contrary, the Committee may delegate, subject to such terms and conditions or guidelines as it shall determine, to any employee or independent business manager of the Company or to a committee of employees or independent business managers of the Company any portion of its authority and powers under the Plan with respect to Participants who are not Executive Officers.”

		
	4.
	Section 4.3 of the Plan shall be amended to add the following after the word “employed” in such Section:

“or performing services”

		
	5.
	Section 4.5 of the Plan shall be amended to add the following after the word “employees” in such Section:

“, independent business managers”

		
	6.
	Section 6 of the Plan shall be amended by adding the following Section 6.11 at the end thereof:

“6.11  Change to Independent Business Manager.  If an Employee becomes an independent business manager, he or she shall not experience a termination of employment for purposes of the Plan.”

		
	7.
	Section 12.6 of the Plan shall be amended to add the following after the word “employees” in such Section:

“or independent business managers”

		
	8.
	Section 12.9 of the Plan shall be amended to add the following after the word “Employee's” in such Section:

“or independent business manager's”

		
	9.
	Section 12.12 of the Plan shall be amended to add the following after the words “independent contractor”

“(including, for the avoidance of doubt, an independent business manager)” 

		
	10.
	All other terms of the Plan shall remain in full force and effect.

IN WITNESS THEREOF, the Company has caused its name to be signed by its duly authorized officers as of the date first written above.

WABCO HOLDINGS INC.
                        
By:  ________________________
                    
Name:  Kevin Tarrant__________

Title:  Chief Human Resources OfficerExhibit 10.17 Amendment No. 3 to WABCO Holdings Inc. Change of Control Severance Plan

AMENDMENT NO. 3
TO
WABCO HOLDINGS INC. CHANGE OF CONTROL SEVERANCE PLAN

WHEREAS, WABCO Holdings Inc. (the “Company”) adopted the WABCO Holdings Inc. Change of Control Severance Plan (the “Plan”);

WHEREAS, under Section X of the Plan, the Company reserves the right to amend the Plan; and

WHEREAS, the Compensation, Governance and Nominating Committee of the Board of Directors of the Company, as the administrator of the Plan, has determined that it is in the best interest of the Company and its shareholders to amend the Plan on the terms set forth herein.

NOW, THEREFORE, the Plan shall be amended as follows, effective as of January 1, 2012:
		
	1.
	Section II of the Plan shall be amended to add the following sentence after the first sentence of subsection (E) (“Cause”) thereof:

“For avoidance of doubt, termination of a business manager who is party to a management agreement other than for the reasons listed above shall in no event be “Cause” for termination under the Plan.”

		
	2.
	Section II of the Plan shall be amended to add the words “or services” immediately after each instance in which the word “employment” appears in subsection (M) (“Good Reason”).

		
	3.
	Section II of the Plan shall be amended to add the following sentence to the end of subsection (N) (“Participant”) of such Section:

“An independent contractor serving as a business manager of the Company or a Subsidiary shall be a “Participant” for purposes of the Plan.”

		
	4.
	Section III of the Plan shall be amended to add the following sentence at the end thereof:

“In the case of an independent contractor who is a business manager, termination of such person's management agreement shall be treated as a termination of employment.”

		
	5.
	Section IX of the Plan shall be amended by deleting the heading “Certain Additional Payments” and replacing it with the heading “Certain Limitations on Payments”.

		
	6.
	Section IX of the Plan shall be further amended by deleting such Section in its entirety and replacing it with the following: 

“A.  If any amounts due to the Participant under the Plan and any other plan or program of the Company or its respective affiliates with respect to any services constitute a "parachute payment," as such term is defined in Section 280G(b)(2) of the Code, then the aggregate of the amounts constituting the parachute payment shall be reduced such that the aggregate “present value” of such amounts at all times is not greater than three times the “base amount” less one dollar (the “Golden Parachute Limit”); provided, however, that if the total after-tax payments that the Participant would receive under the Plan and any other plan or program of the Company or its respective affiliates with respect to any services if the Golden Parachute Limit were exceeded is greater than the total after-tax payments the Participant would receive if the amounts were reduced as described above, such amounts shall not be reduced.  For purposes of applying the Golden Parachute Limit, the definitions and rules set forth in the Treasury Regulations promulgated under Section 280G of the Code shall apply.  

B.    All determinations under the preceding paragraph shall be made by a nationally recognized 

accounting, executive compensation or law firm appointed by the Company (the “Consultant”) that is acceptable to the Participant on the basis of “substantial authority” (within the meaning of Section 6662 of the Code).  The Consultant's fee shall be paid by the Company.  The Consultant shall provide a report to the Participant that may be used by the Participant to file the Participant's tax returns.

C.    It is possible that payments will be made by the Company which should not have been made (each, an “Overpayment”) due to the uncertain application of Section 280G of the Code at the time of a determination hereunder.  In the event that there is a final determination by the Internal Revenue Service, or a final determination by a court of competent jurisdiction, that an Overpayment has been made, any such Overpayment shall be repaid by the Participant to the Company together with interest at the prime rate of interest in effect on the date of such Overpayment; provided, however, that no amount shall be payable by a Participant to the Company if and to the extent such payment would not reduce the amount which is subject to taxation under Section 4999 of the Code.”

		
	7.
	Section XII of the Plan shall be amended by deleting the final sentence thereof in its entirety and replacing it with the following:

“Notwithstanding anything contained herein to the contrary, all payments and benefits which are payable upon a termination of employment or termination of business manager status hereunder shall be paid or provided only upon those terminations of employment or business manager status that constitute a “separation from service” from the Company within the meaning of Section 409A of the Code (determined after applying the presumptions set forth in Treas. Reg. Section 1.409A-1(h)(1))”

		
	8.
	All other terms of the Plan shall remain in full force and effect.

IN WITNESS THEREOF, the Company has caused its name to be signed by its duly authorized officers as of the date first written above.

WABCO HOLDINGS INC.
                        
By:  ________________________
                    
Name:  Kevin Tarrant__________

Title:  Chief Human Resources OfficerExhibit 10.42 Business Manager Contract Jacques Esculier

MANAGEMENT AGREEMENT

BETWEEN: 

WABCO Europe SPRL/BVBA, having its registered offices at 1160 Brussels, Chaussée de Wavre/Waversesteenweg 1789, with company number 0475.956.135;

Hereinafter referred to as “the Company”;

Represented for the purposes of the Agreement by Mr. Ulrich Michel and Mr. Jozef Van Osta in their capacity of Business Manager of the Company; 

AND:

Mr. Jacques Esculier, residing at 

Hereinafter referred to as “the Business Manager”;

TAKING INTO ACCOUNT THE FOLLOWING;

WHEREAS the Company undertakes and warrants that the Business Manager will be appointed as a remunerated general manager of the Company by its General Assembly of Shareholders with effect as of January 1, 2012;

WHEREAS the Company and the Business Manager wish to determine in a written agreement (“the Agreement”) the terms and conditions under which the latter will perform the office as business manager of the Company effective as of January 1, 2012 (the “Effective Date”);

IT HAS BEEN AGREED AS FOLLOWS:

Article 1 - Object of the agreement 

		
	1.
	The Business Manager agrees to perform the office of business manager of the Company. In his capacity of business manager, he will manage the Company subject to the terms and conditions of the Agreement. 

		
	2.
	Pursuant to generally applicable management practice, the Business Manager will attend all meetings of the Board of Business Managers and through his contribution and effort as business manager provide together with the other business managers the best possible management for the Company.

		
	3.
	The Business Manager will at all times respect and abide the division of decision and representation powers for business managers as established by the Shareholder's meeting in the articles of association as well as any other Company policy which may affect him as a business manager of the Company.

		
	1.
	The Board of Business Managers may delegate special powers to the Business Manager within the framework of his office as business manager, and the Business Manager will carry them out to the best of his abilities. 

Article 2 - The conditions of the agreement

		
	1.
	The Business Manager shall perform the Agreement on a self-employed basis. 

		
	2.
	The Business Manager will be available for the performance of the Agreement during the time considered necessary in order to fulfill his obligations resulting from this agreement. To that effect, the Business Manager accepts to be available during regular office hours and to perform 225 man-days per calendar year.

Prior to the beginning of the Agreement and during the performance thereof, the Business Manager will inform the Company in writing of any other positions (whether remunerated or not) which he holds in any other company or association. The Company has the right to request the Business Manager  terminate  such positions to the extent that they could possibly hinder the proper performance of the Agreement.

In addition, the Business Manager will refrain from accepting any position (whether remunerated or not) in any other company or association which might conflict with the proper performance of the Agreement, except with the prior written consent of the Company.

		
	3.
	The Business Manager will be provided with the necessary infrastructure, logistical    support and documentation of the Company insofar as it is necessary for the proper performance of the Agreement. 

		
	4.
	As holder of a corporate mandate, the Business Manager agrees to respect all instructions in relation to safety and health, which are applicable within the premises of the Company where personnel are working. The Business Manager explicitly allows the Company to take the necessary measures in his name in the event any problem would arise in this respect.

		
	6.
	The Business Manager shall perform his office as business manager of the Company as a normal prudent business manager, with due diligence and in accordance with generally accepted and consistently applied business practices. The Business Manager shall, at all times, (a) take into consideration the objectives and best interest of the Company and the WABCO group in general, (b) comply with all applicable laws and regulations and (c) comply with all corporate policies and codes of business ethics established by the Company or the WABCO group in general, including but not necessarily limited to global policies relating to technology, operations, human resources, finance, and proposal and contract approvals.  

		
	7.
	The Business manager will be covered by the WABCO   Director and    Officers Policy, covering the liability of company directors and officers.

Article 3 - Place of performance and mobility

		
	1.
	The Business Manager agrees to fulfill his duties and responsibilities under this Agreement from the business premises of the Company in Belgium. 

		
	2.
	In view of the international scope of activities and business of the Company, the Business Manager acknowledges and accepts that proper performance of the mandate may require that he travels  to other locations abroad and performs  temporary assignments abroad at any time.

Article 4 - Base salary

		
	1.
	For the duration of the Agreement, the Company will pay the Business Manager a fixed annual remuneration of 769,231 EUR gross (hereinafter referred to as “the Base Salary”). The Base Salary shall be paid in 12 equal monthly installments per month performed, after deduction of the tax and any other contractual withholdings. In case of an incomplete year, the Base Salary shall be paid pro rata temporis.

		
	2.
	The Base Salary will be reviewed once a year, it being understood that such adjustment must be endorsed by the competent corporate body of the Company. The adjustment of the Base Salary will take effect as of the month of July.

Article 5 - Incentives 

		
	1.
	The Business Manager is eligible to participate in the Annual Incentive Plan (AIP) of the Company in accordance with rules and conditions of such plan which is subject to change from time to time.  The Business Manager's individual AIP target (“the AIP Target”) amounts to 100% of the Base Salary. The actual AIP payment (“the Actual AIP”) is based on the achievement of individual and company performance goals which are determined every performance year by the Compensation Nominating and Governance committee (“the CNG Committee”) of the Board of directors. 

		
	2.
	The Business Manager is eligible to participate in the Cash Long Term Incentive Plan (LTIP) of the Company in accordance with rules and conditions of such plan which is subject to change from time to time.  The target LTIP (“the LTIP Target”) amounts to 100% of the average Base Salary over the three year cycle period. The actual LTIP payment (“the Actual LTIP”) is based on the achievement of company performance goals which are determined for each cycle by the CNG Committee.

		
	3.
	The Business Manager will be eligible for an annual equity grant based on the CNG Committee's annual recommendation and in accordance with the provisions of the WABCO Omnibus Incentive Plan which is subject to change from time to time. The grant may consist of stock options and/or restricted stock awards or units or any other equity benefits.

Article 6 - Company car 

		
	1.
	The Company shall provide the Business Manager with the use of a car and fuel card, pursuant to the terms and conditions of the Company's car policy which is subject to change from time to time. All costs associated with the use of the car shall be borne by the Company. 

		
	2.
	The Business Manager can also make use of the company car for private purposes. The private use of the company car will be taxed as a benefit in kind in accordance with the official guidelines of the tax authorities. The Business Manager accepts that the taxation of the private use can change due to a modification of the legal rules of such a benefit.

Article 7 - Other benefits 

The Company shall provide the Business Manager with the following benefits:
		
	•
	the use of a mobile phone, pursuant to the terms and conditions of the Company's mobile phone policy which is subject to change from time to time;

		
	•
	the use of a laptop.

Article 8 - Insurances

		
	1.
	The Business Manager will be covered by the company group insurance plan for its business managers, which is subject to change from time to time. The insurance plan covers extra-legal pension, death in service, invalidity and guaranteed income.

The Business Manager explicitly agrees that all personal contributions of the Business Manager will be deducted from his monthly salary.

A summary of the company group insurance plan is attached as Annex 1 to the Agreement.

		
	2 .
	Medical care will be covered by a private medical insurance concluded by the Company for the business manager and his dependent family members.

		
	3.
	If the Business Manager is unable to perform his duties and obligation through illness or inability to work, the Business Manager will be entitled to receive his Base Salary during the first month of illness or inability to work. After the initial period of 30 or 31 consecutive days the company group insurance plan defined in article 8 of the present agreement applies. This will be subject to the production of medical certificates and to such other requirement as the Company, as well as the insurance company may reasonably impose.

Article 9 - Expenses

		
	1.
	The Company will reimburse the Business Manager all professional costs  he may incur in the normal execution of the Agreement provided they are reasonable and justified through expense reports.

Article 10 - Goods and services differential

		
	1.
	According to the Company's international mobility policy and when applicable, the Company used to compensate expatriates for cost of living differences between residing in the United States and Brussels, Belgium through the payment of a goods and services differential. Any such adjustment was based on average expenditures by income group and family size as established by an independent research service selected by the Company.

		
	2.
	Parties agree that the application of the goods and services differential will be fixed at the fourth quarter of 2011 differential i.e USD 141,182 or EUR 108,602 and will be phased-out during a three-year period starting as of January 2012 with the following percentages:

		
	•
	for the calendar year 2012: 100 % of the differential will be awarded;

		
	•
	for the calendar year 2013: 67 % of the differential will be awarded;

		
	•
	for the calendar year 2014: 33 % of the differential will be awarded;

		
	•
	as of calendar year 2015: no differential anymore.

Article 11 - Housing &Home Leave

		
	1.
	The Company will pay to the Business Manager a monthly net housing allowance of EUR 5,390 to be indexed on an annual basis based on rent indexes in Belgium. The Company will also reimburse for house utilities, including gas, water, electricity and maintenance.

		
	2.
	Home leave will be provided annually for the Business Manager and his family. Only transportation to and from home is provided.

Article 12 - Taxes  
		
	1.
	The Company will notify the Belgian tax authorities on behalf of the Business Manager about the change of the status of the Business Manager in order to obtain a continuation of the special tax status for expatriates.

		
	1.
	The Business Manager will not undertake any action that could jeopardize the continued application of the special tax status for expatriates or reduce the benefits for the Company.

		
	3.
	The Business Manager shall provide to the Company or the Company's designated tax advisors all documents related to his professional travel outside Belgium, such as boarding passes, train tickets, visa stubs, etc. 

		
	4.
	The Company will provide the Business Manager with tax assistance with regard to his Belgian income tax return at the Company's expense. 

		
	5.
	As the Business Manager has the fiscal status of manager ('bedrijfsleider'/'dirigeant d'entreprise') for Belgian income tax purposes, the Company will deduct withholding taxes from the Business Manager's remuneration. 

		
	6.
	The Business Manager understands and acknowledges that as of the start of the business manager status, he will be responsible for paying actual income taxes in Belgium. According to the company tax policy for business managers, the Company will however bear the actual income taxes in the United States, if any, under the applicable tax equalization policy for business managers as attached as annex 2 to the agreement. 

		
	7.
	Stock options that have been granted in the past when the Business Manager was subject to tax equalization (whereby a hypothetical tax was calculated and deducted on the professional income taking into account the tax rules of the home country being the US), will be treated as follows:

Upon exercise, an amount will be withheld from the exercise gain, being the lesser of:

		
	•
	the Belgian income tax paid upon grant (including any tax payable at another moment within the rules of the specific Belgian legislation of March 26, 1999 on stock options) OR the Belgian income tax payable at exercise (if no taxation should have taken place at grant); AND

		
	•
	the hypothetical tax that would have been due under the conditions of the previous tax equalization agreement.

Article 13 - School allowance

		
	1.
	The Company will reimburse the Business Manager for the education costs of his dependent children in grades K to 12 (or up to the end of secondary school). Reimbursement under this provision shall be limited to tuition fees, books and necessary supplies, and local transportation.

Article 14 - Social security 

		
	1. 
	The Business Manager will be subject to the Belgian social security scheme for self-employed workers, in accordance with the Belgian social security legislation. 

The Business Manager will be solely liable for his personal social security obligations in relation to the performance of the Agreement. The Business Manager will register with a Belgian social insurance fund for self-employed workers. The Company will pay on behalf of the Business Manager the required quarterly social security contributions to the social insurance fund in order to keep their affiliation with the Belgian social security scheme for self-employed workers.

The Business Manager explicitly agrees that all payments  made by the Company on behalf of the Business Manager will be deducted from his monthly salary.

Article 15 - Confidentiality

		
	1.
	All information, data, written materials, discs, files, software and/or any other document and/or material prepared for the benefit of or received by the Business Manager in execution of or during the performance of the Agreement and connected to the business of the Company, its clients and/or its personnel is qualified as confidential information (hereinafter referred to as “Confidential Information”) and will remain exclusively the property of the Company. 

		
	2.
	At the moment of the effective termination of the Agreement, for whatever reason, or at the sole request of the Company during the performance of the Agreement, the Business Manager will immediately transfer all Confidential Information to the Company.

		
	3.
	The Business Manager will not be entitled to take or keep any transcript or copy of the Confidential Information, under whatever form, after the termination of the Agreement. All possible titles and/or intellectual rights that may 

be connected directly or indirectly with the Confidential Information belong to the Company and remain the sole property of the latter.

		
	4.
	Furthermore, the Business Manager will not reveal any Confidential Information to third parties and/or use this information on his own behalf or jointly with or on behalf of any person, firm or company after the termination of the Agreement for whatever reason.

		
	5.
	The present section does not apply with regard to information pertaining to the public domain.

Article 16 - Intellectual property

		
	1.
	All systems, programs, software (object codes as well as source codes), documents, databases, manuals, reports, trade secrets, inventions, improvements, know-how and all other work created, designed, developed or produced by the Business Manager, whether or not by using the facilities of the Company, in the course of or in relation with the performance of this Management Agreement, or that relate to the activities of the Company (the “Works”) shall remain or become the exclusive property of the Company. This exclusivity implies but is not limited to the transfer and assignment of all intellectual and other proprietary rights in the Works to the Company. 

		
	2.
	All intellectual and other proprietary rights in the Works (including but not limited to copyrights, trademark rights, rights on databases, rights on computer programs as well as patent rights) that have come into existence or will come into existence in the course of or in relation with the performance of the Agreement are immediately transferred and assigned to the Company as from their coming into existence or, as from the execution of this Management Agreement for rights already in existence at the time of contracting.

		
	3.
	The transfer and assignment of these intellectual and other proprietary rights in the Works includes, but is not limited to the transfer and assignment of the right to reproduce, modify, translate, adapt, use to make derivative works, distribute, rent, lend and/or communicate the Works to the public, partially or completely, in each and any way, for internal (including but not limited to research and development) and external use. The transfer and assignment is valid for all countries, in the most extensive way possible as permitted by law, without limitation in time other than the legal duration of validity of these rights and without further payment than the fee as provided for executing the Agreement.

		
	4.
	The Business Manager undertakes to fully inform the Company, upon first demand of the Company, that it has created, designed, developed or produced certain Works. The Business Manager undertakes to fully communicate all information and know-how in relation to the Works to the Company, and this immediately upon the creation, design, development or production of the Works.

		
	5.
	Should the Company decide, without having any obligations whatsoever, to file for any registered intellectual property rights in relation to a Work, the Business Manager undertakes, upon first demand of the Company, upon expenses borne by the Company, to provide all necessary or useful cooperation and to provide and sign all documents in order to permit, facilitate or accelerate any application for any registered intellectual property right. The Business Manager undertakes not to apply for any registered intellectual property right  or to ask a third party to apply for a registered intellectual property right related to the Works without the written express authorization of the Company.

		
	6.
	The Company has the exclusive right to decide, when and how, to exploit the Works.  Works that have not been exploited remain the exclusive property of the Company. The Company can adapt and modify the Works as it deems appropriate in order to exploit the Works. The Business Manager agrees not to oppose the adaptation or the modification of the Works.  The Business Manager agrees that the Company may exploit the Works without mentioning the Business Manager's name.

     

Article 17 - Duration / Termination 

		
	1.
	The Agreement shall enter into force on January 1, 2012, i.e. date of the Business Manager's appointment as business manager of the Company by the General Assembly of Shareholders of the Company.

		
	2.
	The Agreement is concluded for an indefinite duration .

		
	3.
	Except as provided in Article 18 , upon termination of the Business Manager's mandate by the General Assembly of Shareholders of the Company without Cause or by the Business manager for Good Reason (as these terms are defined in annex 3 to this Agreement), hence upon termination of the Agreement, the Company must pay the Business Manager a severance payment equal to two times the remuneration (as defined in paragraph 4 of this article 17).

However, if the Business Manager, in whatever function or capacity, accepts employment by or a collaboration agreement (including, for avoidance of doubt, a Business Management Agreement) with a company of the WABCO Group, this will not be considered as a termination of the Agreement by the Company in the framework of this article.
		
	4.
	Remuneration in the framework of the present article consists of the following elements:

		
	a)
	The Base Salary defined in article 4 of the Agreement;

		
	b)
	The AIP Target as defined in article 5.1. of the Agreement;

		
	c)
	Contributions for Group insurance and medical cover as defined in Article 8 of the Agreement

		
	5.
	Severance will however not be due if the Company terminates the Business Manager's mandate and hence the Agreement because of “Cause”.

		
	6.
	The Business manager will also be reimbursed for financial planning services of up to $5,000 for one year after the date of termination.

		
	7.
	The Business Manager will respect a reasonable notice period in case of resignation from his mandate. The reasonable notice period is three months in all cases, unless Parties agree otherwise. In case of resignation from his mandate by the Business Manager, the latter will not be entitled to the severance payment foreseen in article 17 .3.

		
	8.
	The Business Manager will not be entitled to any severance under this Management Agreement unless:

		
	◦
	A) he executes a release of claims against the Company and its affiliated companies in a form acceptable to the Company; OR

		
	◦
	B) a final irrevocable court decision intervened on all existing claims (apart from the entitlement to the remainder of the contractual severance) and the Business Manager executed a release of claims against the Company and its affiliated companies in a form acceptable to the Company for all other claims that may exist at that time.

In this respect the company agrees to pay an advance to the severance pay equal to six months' severance and this within a timeframe of 45 days after the termination of the contract.

Article 18 - Change of control

		
	1.
	Any severance provided upon a “Change of Control” (as that term is defined in the WABCO Holdings Inc. Change of Control Severance Plan (the “Change of Control Plan”)) shall be provided pursuant to the terms of the Change of Control Plan.  Any such payment shall be in lieu of any severance payment that might be payable under article 17 or otherwise 

Article 19 - Notification

Any notification in connection with the Agreement must be made in writing and in English and shall be validly given with respect to each party if sent by registered mail or courier to the addresses set out in the beginning of this Management Agreement or to such other address as a party may notify to the other in accordance with this clause.

Article 20 - Section 409A

Notwithstanding anything to the contrary in the Agreement, in the event that the Business Manager is or becomes a U.S. citizen or resident alien during the term of the Agreement, the special payment provisions to comply with Section 409A of the Code that are set forth in annex 4 shall apply.

Article 21 - Enforceability

Any provision of the Agreement or part thereof which would be declared null and void, will be considered separated from the Agreement, which, for the remainder, will remain applicable. 

Article 22 - Applicable law / Jurisdiction

		
	1.
	The Agreement is governed by Belgian law and any dispute concerning the interpretation, performance and/or termination of the Agreement must be resolved under Belgian law. 

		
	2.
	The courts of Brussels have exclusive authority in relation to every dispute connected to the interpretation, the performance and/or the termination of the Agreement. By executing the Agreement, the Business Manager consents to the jurisdiction of the Belgian courts with respect to the Agreement.

Article 23 - Entire agreement

		
	1.
	The Agreement constitutes the entire agreement existing between parties, with respect to services performed hereunder during periods on and after the Effective Date. It replaces every other agreement and/or arrangement between parties to the extent that its provisions are incompatible with the provisions of the Agreement.

		
	2.
	All policies referred to in the Agreement, whether attached to this agreement as an annex or not, form an integral part of the Agreement and have the same legal value.

Established in two original copies in Brussels on December 19, 2011, both parties acknowledging receipt of one original copy duly signed by the other parties.

The Business Manager                         For the Company,
Jacques Esculier                        Ulrich Michel 
(“read and approved”)                        Business Manager

__________                            __________
[signature*]                            [signature]

Jozef Van Osta
Business Manager

                                
__________
[signature]

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