Document:

Exhibit 10.9

 

EXECUTION COPY

 

SATTE FACILITY LEASE AGREEMENT

 

This Satte Facility Lease Agreement (this “Agreement”) is entered into on March 29, 2018 between Toppan Printing Co., Ltd., a company organized under the laws of Japan (“Landlord”), and VTS-TOUCHSENSOR CO., LTD. (formerly known as Toppan Touch Panel Products Co., Ltd.), a company organized under the laws of Japan (“Tenant”). This Agreement is effective from March 26, 2018 (the “Effective Date”). Each of Landlord and Tenant is referred to as a “Party.”

 

RECITALS

 

A.            Landlord, which owns 35% of Tenant’s outstanding capital, and VIA Optronics GmbH, a company organized under the laws of Germany (“VIA”), which owns 65% of Tenant’s outstanding capital, are party to a Framework Agreement dated November 30, 2017 (the “Framework Agreement”), pursuant to which Landlord has agreed to lease to Tenant the Leased Premises.

 

B.            Landlord and Tenant enter into this Agreement to implement the lease of the Premises to Tenant in accordance with the Framework Agreement.

 

The Parties hereby agree as follows:

 

ARTICLE I
  DEFINITIONS

 

Section 1.1           The terms set forth below have the meanings specified or referred to below.

 

Affiliate: Of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control” of a Person (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of at least 50% of the outstanding voting securities of the Person.

 

Business Day: Any day except Saturday, Sunday or any other day on which commercial banks located in Tokyo, Japan or Frankfurt, Germany are authorized or required by Law to be closed for business.

 

Common Areas: All areas and facilities located outside of the Premises and within the exterior boundary line of the Facility that are provided and designated by the Landlord from time to time for the general non-exclusive use of Landlord, Tenant, and other occupants of the Facility, and their respective employees, suppliers, shippers, customers, contractors, and invitees, including, without limitation, parking areas, loading and unloading areas, trash areas, lighting facilities, fences and gates, roadways, sidewalks, walkways, parkways, driveways, and landscaped areas.

 

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Facility:  The Premises and the Common Areas, together with all other existing and future buildings and improvements erected on the land located at 4237-1 Soushinden, Satte-shi, Saitama, 340-0013, Japan.

 

Governmental Authority: Any national, prefectural, local or foreign government or political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

Law: Any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement or rule of law of any Governmental Authority.

 

Permitted Use: Offices for management, operational, and administrative functions and manufacturing facility for manufacturing copper PET film used in touch panel sensors and related products.

 

Person: An individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association or other entity.

 

Premises: The space for the use of Tenant (1,676 square meters) at Landlord’s facility located at 4237-1 Soushinden, Satte-shi, Saitama, 340-0013, Japan described in Schedule 1.

 

Representative: With respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants and other agents of such Person.

 

Rules and Regulations: The rules and regulations that apply to the Premises and Common Areas established by Landlord from time to time.

 

Term: As defined in Section 7.1.

 

ARTICLE II
 LEASE OF PREMISES

 

Section 2.1           Lease of Premises. Subject to the terms and conditions of this Agreement, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises during the Term.

 

Section 2.2           Acceptance of Premises. Tenant hereby acknowledges that: (a) Tenant has had the opportunity to inspect the Premises; (b) the Premises are acceptable for Tenant’s intended Permitted Use as of the date of such inspection.  The Landlord hereby acknowledges that, the Rent under Section 4.2 is based on the condition that the Premises are fit for such Permitted Use, and if the Premises become unfit for such Permitted Use due to the reason not attributable to the Tenant, the Landlord and the Tenant shall negotiate in good faith and revise  the Rent reflecting the above accordingly; and neither Landlord nor any of Landlord’s Representatives has made any oral or written representations or warranties with respect to

 

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the Premises other than as set forth in this Agreement. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, TENANT ACCEPTS THE PREMISES IN THEIR “AS-IS” CONDITION.

 

Section 2.3           Common Areas. Landlord hereby grants to Tenant, for the benefit of Tenant and its employees, suppliers, shippers, customers, contractors, and invitees, during the Term, the nonexclusive right to use the Common Areas as they exist from time to time, subject to any rights, powers, and privileges reserved by Landlord under the terms hereof or under the terms of any Rules and Regulations governing the use of the Common Areas. Under no circumstances will the right granted herein be deemed to include the temporary or permanent right to store any property in the Common Areas. Landlord may, from time to time: (a) establish, modify, amend, and enforce the Rules and Regulations regarding the Common Areas; (b) make changes to the Common Areas, including, without limitation, changes in the location, size, shape, and number of driveways, entrances, ingress, egress, direction of traffic, parking spaces, parking areas, loading and unloading areas, landscaped areas, and walkways; (c) close temporarily any of the Common Areas for maintenance purposes so long as reasonable access to the Premises remains available; (d) add additional buildings and improvements to the Common Areas; and (e) do and perform such other acts and make such other changes in, to, or with respect to the Common Areas as Landlord may, in the exercise of sound business judgment, deem to be appropriate. All parking areas, driveways, entrances and exits thereto, stairways, lobbies, and all other Common Areas will be at all times subject to the exclusive control and management of Landlord.

 

ARTICLE III
 USE OF THE PREMISES

 

Section 3.1           Permitted Use.  Tenant shall use the Premises only for the Permitted Use and shall not use the Premises for any other purposes. Tenant shall not use the Facility or permit the Premises to be used in violation of any Law or in a manner that annoys or interferes with the rights of other occupants of the Facility.

 

Section 3.2           Uses Prohibited. Tenant shall not do or permit anything to be done in or about the Premises nor bring or keep anything in or on the Premises that is not within the Permitted Use or that will in any way increase the existing rate on or affect any insurance upon the Facility or cause a cancellation of any insurance policy covering the Facility or any part thereof or any of its contents.

 

Section 3.3           No Assignment or Subleasing. Tenant shall not sell, assign, encumber, pledge, or otherwise transfer all or any part of the Premises, sublet all or any party of the Premises, or permit the Premises to be occupied by anyone other than Tenant.

 

Section 3.4           Permits and Documents.

 

(a)           Tenant, in a timely manner, shall obtain and maintain in full force and effect all permits, licenses, and approvals, and shall make and file all notifications and registrations, that Tenant is required to hold or to make by applicable Laws. Tenant shall at all times comply with the terms and conditions of any such permits, license, approvals, notifications, and registrations.

 

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(b)           Landlord represents and warrants that it has all permits, licenses, and approvals that it is required to hold to lease the Premises to Tenant throughout the Term of this Agreement.

 

Section 3.5           Landlord’s Access. Landlord or its Representatives may enter the Premises at all reasonable times to inspect the Premises or for any other purpose Landlord deems necessary. Landlord shall give Tenant reasonable advance notice of such entry, except in the case of an emergency. Landlord will at all times have and retain a key with which to unlock all of the standard entrances and exit doors in, upon, and about the Premises, and Landlord may use any and all means that Landlord may deem proper to open such doors in an emergency, in order to obtain entry to the Premises without liability to Tenant, except for any failure to exercise due care for Tenant’s property.  In this Section 3.5, the term of “emergency” shall mean an imminent physical risk or damage to the Premises or the properties/personnel located in the Premises is occurring or reasonably foreseeable.

 

Section 3.6           Indemnification.

 

(a)           Tenant shall indemnify, defend, save, and keep Landlord, and Landlord’s Representatives and successors, and assigns, harmless from and against any and all liabilities, obligations, charges, losses, damages, penalties, claims, actions, and expenses, including without limitation, engineers’ and professional fees, imposed on, incurred by, or asserted against Landlord, in each case, as the result of a third-party claim against Landlord, in any way relating to, arising out of, or in connection with, Tenant’s use of the Facility or the Common Areas in violation of this ARTICLE III.

 

(b)           Landlord shall indemnify, defend, save, and keep Tenant, and Tenant’s Representatives and successors, and assigns, harmless from and against any and all liabilities, obligations, charges, losses, damages, penalties, claims, actions, and expenses, including without limitation, engineers’ and professional fees, imposed on, incurred by, or asserted against Tenant, in each case, as the result of a third-party claim against Tenant, in any way relating to, arising out of, or in connection with, Landlord’s breach of Section 3.4(b).

 

ARTICLE IV
 RENT AND OTHER PAYMENTS

 

Section 4.1           Rent and Other Payments. Tenant shall pay rent equal to JPY3,354, 167 (exclusive of applicable consumption tax) per month throughout the Term (the “Rent”). If taxes assessed on the Facility or Premises increase considerably or if there is another unanticipated and unavoidable change in circumstance that considerably increases the cost of owning the Facility or Premises, the Parties shall discuss in good faith an appropriate increase in the Rent. In addition, Tenant shall share certain maintenance costs incurred in connection with the Facility, for the items described in Schedule 2 (the “Maintenance Costs”), as well as certain administration fees payable to Toppan Techno Co., Ltd., a subsidiary of Landlord (“Toppan Techno”) (the “Techno Administration Fee”), as set forth below.  The sharing ratio between Tenant and Landlord for both the Maintenance Cost and Techno Administration Fee shall be forty percent (40%) for Tenant and sixty percent (60%) for Landlord (the “Sharing Ratio”). The respective amounts payable for such Rent and Maintenance Costs for the term of this Agreement is set forth in Schedule 3 hereto (“Payment Schedule”).

 

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Section 4.2           Payment of Rent.

 

(a)           Pursuant to the Payment Schedule, Tenant shall pay the Rent for the period from March 26, 2018 through March 2019 (the “First-Year Rent”) starting in April 2019. Tenant shall pay the First-Year Rent equally in monthly installments over a four-year period, at the same time as it pays Rent that becomes due monthly on and after April 2019, along with interest of 2% per year, calculated on a daily basis. Notwithstanding the previous two sentences, before April of each year of the Term, the Parties shall discuss in good faith whether and to what extent Tenant is able to accelerate the repayment of the First-Year Rent without causing undue harm to its business operations and financial situation, and if the Parties conclude that Tenant is able to accelerate such repayment in light of those factors, Tenant will repay the First-Year Rent at the accelerated schedule agreed by the Parties.

 

(b)           Pursuant to the Payment Schedule, Tenant shall pay the Rent (including First-Year Rent) for a month in arrears, by the 60th day after the first day of the next month (i.e., the Rent for the month of April is due June 30). Rent due for any period of less than a full month will be appropriately apportioned based on the number of days in that month.

 

(c)           Interest of 4 % per year, calculated on a daily basis, will be assessed on late payments of the Rent (including First-Year Rent). Pursuant to the Payment Schedule, interest will be payable at the end of every calendar quarter (i.e., interest on Rent that is due but unpaid by the end of July, August, and/or September is due and payable on the last day of September). Notwithstanding the fact that the Term (defined below) commences on the Effective Date, the first payment of interest on late Rent payments, if any, will not come due until the last day of December 2018.

 

(d)           Tenant will pay consumption tax on the rent in accordance with the payment schedule set forth in Schedule 3. If the Japanese government increases the consumption tax during the Term (as defined in Section 7.1), Schedule 3 will be updated to reflect the increased consumption tax.

 

Section 4.3           Payment of Shared Cost

 

(a)           By the 10th Business Day of each month, Landlord shall deliver to Tenant an invoice (a “Landlord Invoice”) setting forth (i) the total amounts of Maintenance Cost and Techno Administration Fee incurred in the previous month and (ii) the amounts to be allocated to Tenant under the Sharing Ratio (the “Shared Cost”), and by the last day of each month, Landlord shall send to Tenant a copy of the invoice sent by Toppan Techno to Landlord for the Techno Administration Fee in the Landlord Invoice described in the first part of this sentence. Within 10 Business Days after Tenant’s receipt of the copy of the Landlord invoice, Tenant shall review the amounts and items described in the invoice for the Shared Costs and notify Landlord of its approval or rejection (together with its request to provide more information or otherwise to modify.)  If approved, Tenant shall pay such amount of the Shared Cost by 60th day after the first day of the next month (i.e., the Rent for the month of April is due June 30) , unless otherwise subject to the payment schedule described in Paragraph (b) below.  A sample form of Landlord Invoice is attached to this Agreement as Schedule 4.

 

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(b)           Notwithstanding of Paragraph (a) above, the payment of the Shared Costs incurred for the period from March 26, 2018 through September 30, 2018 (the “Initial Shared Costs”) shall be deferred until and paid on or before March 31, 2019, in a single installment. Interest of 2% per year, calculated on a daily basis, will accrue on the Initial Shared Costs, from July 1, 2018 until March 31, 2019, inclusive, and such interest shall be deferred until and paid on or before March 31, 2019, in a single installment. Interest of 4 % per year, calculated on a daily basis, will be assessed on late payments of the Shared Costs (including Initial Shared Costs). Interest will be payable at the end of every calendar quarter (i.e., interest on Shared Costs that is due but unpaid by the end of July, August, and/or September is due and payable on the last day of September). Notwithstanding the fact that the Term commences on the Effective Date, the first payment of interest on late Shared Cost payments, if any, will not come due until the last day of December, 2018. Shared Costs due for any period of less than a full month will be appropriately apportioned based on the number of days in that month, and shall be so described in applicable invoice to be prepared by Landlord.

 

ARTICLE V
 MAINTENANCE, REPAIRS, AND ALTERATIONS

 

Section 5.1           Maintenance by Tenant. Tenant shall at all times during the Term keep the Premises and all fixtures thereof (including electrical, lighting, heating, and plumbing and plumbing fixtures, and any air conditioning systems) in good order, condition, and repair. Tenant shall repair any damages to the structural portions of the Facility attributable to (caused by) Tenant or its Representatives, at its own costs, or request the Landlord to repair the same and reimburse the reasonable costs thereof.

 

(a)           Maintenance by Landlord. Landlord shall maintain, repair, and replace the structural portions of the Premises. Landlord shall repair and replace plumbing, utility, and/or sewer lines that service the Premises.

 

Section 5.2           Alterations, Additions, and Improvements.

 

(a)           Tenant shall not make any alterations, additions, or improvements to the Premises without Landlord’s advance written consent, except for minor non-structural alterations that are not made on the exteriors of the Facility.

 

(b)           Unless otherwise agreed with Landlord, Tenant shall remove all furniture, personal property, trade fixtures, shelves, bins, and machinery installed by Tenant before the expiration or termination of this Agreement and Tenant shall be responsible for repairing, upon the expiration or termination of this Lease, all damage to the Premises or the Facility caused by the installation or removal of such items.

 

ARTICLE VI
 PAYMENTS AND TAXES

 

Section 6.1           Payments.

 

(a)           Tenant shall make all payments due under this Agreement by wire to an account designated by Landlord.

 

 

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(b)           Subject to and unless otherwise specifically set forth in Article IV with respect to the deferred payments of the First Year Rent and the Shared Cost, interest of 4% per year, calculated on a daily basis from the date the payment was required to be paid to the date of actual payment, will be assessed to any late payment under this Agreement.

 

Section 6.2           Taxes.

 

(a)           Rent and other sums payable under this Agreement are exclusive of taxes. Tenant shall be responsible for all sales, use, excise, and value added taxes, and any other similar taxes, duties, and charges of any kind imposed by any Governmental Authority on any amounts payable by Tenant hereunder, other than any taxes imposed on, or with respect to, Landlord’s income, revenues, gross receipts, personnel, or real or personal property, or other assets, and shall pay all Rent and other sums payable hereunder free and clear of all deductions and withholdings whatsoever, unless the deduction or withholding is required by Law. If any deduction or withholding is required by Law, Tenant shall pay to Landlord such sum as will, after the deduction or withholding has been made, leave Landlord with the same amount as it would have been entitled to receive without any such requirement to make a deduction or withholding.

 

(b)           Tenant shall pay all taxes relating to personal property or other movable property of the Tenant located at the Premises. Landlord shall pay all real estate-related taxes relating to the Premises.

 

ARTICLE VII
 TERM AND TERMINATION

 

Section 7.1           Term. This Agreement commences on the Effective Date and continues for a term of 2 years, unless terminated earlier pursuant to Section 7.2 (the “Term”). The Parties may extend the Term by mutual consent.

 

Section 7.2           Early Termination.

 

(a)           Either Party may terminate this Agreement before the expiration of the Term immediately by giving written notice to the other Party if:

 

(i)       the other Party materially breaches this Agreement and, if such breach is curable, fails to cure such breach within 30 days after the first Party’s written notice of such breach, except that if the breach is a payment obligation by Tenant, Landlord may terminate this Agreement if Tenant fails to cure the breach within 15 days after Landlord’s written notice of such breach; or

 

(ii)      the other Party: (1) becomes insolvent; (2) suspends payments or any drafts or checks drawn, issued, or undertaken by Tenant are dishonored, (3) becomes subject, voluntarily or involuntarily, to any bankruptcy, civil rehabilitation, corporate reorganization, or other legal procedure for debt restructuring or work-out (out-of-court procedure for its debts), that is not fully stayed within 30 Business Days or is not dismissed or vacated within 60 Business Days after filing; or (4) is dissolved or liquidated or takes any corporate action for such purpose.

 

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(b)           Landlord may terminate this Agreement before the expiration of the Term immediately upon giving written notice to Tenant if (i) VIA, alone or in combination with its Affiliates, no longer has control (as defined in the definition of Affiliate) of Tenant, or (ii) if the Parties agree, following good-faith discussions, in the event Toppan no longer holds any shares in Tenant.

 

(c)           If the Premises are totally or substantially destroyed by any cause whatsoever, or if the Facility is substantially destroyed (even though the Premises are not totally or substantially destroyed), this Agreement will terminate on the date the destruction occurred.

 

(d)           Tenant may terminate this Agreement with 6 months’ advance written notice based on mutual agreement after good-faith discussions.

 

Section 7.3           Surrender of the Premises. Upon the expiration or other termination of this Agreement, Tenant shall vacate and surrender the Premises vacant, removing all alteration, additions, and improvements made by Tenant to the Premises and, unless agreed otherwise in writing by the Parties, restore the Premises to their original condition. If Tenant fails to restore the Premises to such condition, Landlord may restore the Premises, equipment, and fixtures to such condition and Tenant shall pay the cost thereof upon demand. All of Tenant’s personal property, furniture, trade fixtures, and machinery not removed from the Premises when Tenant leaves the Premises upon the expiration or other termination of this Agreement will be deemed to have been abandoned by Tenant and Landlord may require Tenant to remove such personal property, furniture, trade fixtures, and machinery at Tenant’s expense or Landlord may have such property removed at Tenant’s expense.

 

Section 7.4           Holding Over. Any holding over by Tenant after the expiration or termination of this Agreement, by lapse of time or otherwise, will not operate to extend or renew this Agreement except by the express mutual written agreement between the Parties. If Tenant fails to perform its obligations under Section 7.3, Tenant shall pay Rent until Tenant has completely vacated the Premises (including the removal of all of Tenant’s personal property, furniture, trade fixtures, and machinery from the Premises).

 

Section 7.5           Survival. The rights and obligations of the parties set forth in this Section 7.5 and in ARTICLE I (Definitions), Section 3.6 (Indemnification), Section 7.3 (Surrender of the Premises), Section 7.4 (Holding Over)and ARTICLE VIII (Miscellaneous), and any right, obligation, or required performance of the parties in this Agreement which, by its express terms or nature and context is intended to survive termination or expiration of this Agreement, shall survive any such termination or expiration.

 

ARTICLE VIII
 MISCELLANEOUS

 

Section 8.1           Confidentiality. Each Party agrees not to disclose the contents of this Agreement or the other Party’s Confidential Information without the other Party’s advance written consent. “Confidential Information” of a Party means all non-public or sensitive or proprietary information about or of that Party but does not include information (a) that has become publicly known through no breach by either Party of its confidentiality obligations hereunder, (b) that is independently and lawfully developed or obtained by a Party without

 

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access to the other Party’s Confidential Information, (c) is or becomes available to a Party on a non-confidential basis from a third Person, on condition that that third Person is not and was not prohibited from disclosing that information, or (d) that was known by or in the possession of a Party before the disclosure of that information to that Party pursuant to this Agreement, on condition that, in the case of each of (a) through (d), the Party seeking to disclose such information has the burden of demonstrating that it is not Confidential Information; provided, however, each Party may disclose such Confidential Information to its Affiliates, in each case on a need-to-know basis for the purpose of facilitating the performance of this Agreement, on condition that the Party making such disclosure cause its Affiliates that have received any Confidential Information of the other Party to comply with this provision and that the disclosing Party be responsible for any act by such Affiliates that would constitute a breach of this provision had the act been undertaken by the disclosing Party. A Party may disclose Confidential Information of the other Party if required pursuant to applicable law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction, on condition that the Party first make commercially reasonable efforts to provide the other Party (i) prompt written notice of such requirement so that the other Party may seek, at its sole cost and expense, a protective order or other remedy, and (ii) reasonable assistance, at the other Party’s sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on disclosure.

 

Section 8.2           Independent Contractors. The relationship between the Parties is that of independent contractors. Nothing contained in this Agreement is to be construed as creating any agency, partnership, joint venture, or other form of joint enterprise, employment, or fiduciary relationship between the Parties and neither Party has the authority to contract for or bind the other Party in any manner whatsoever.

 

Section 8.3           Expenses. Except as otherwise expressly provided herein, all costs and expenses, including, without limitation, fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby will be paid by the Party incurring such costs and expenses.

 

Section 8.4           Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Party shall, at the request of the other Party, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be required to carry out the provisions hereof and give effect to the transactions contemplated hereby.

 

Section 8.5           Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder must be in writing and will be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) on the date sent by e-mail of a PDF document, if sent during the recipient’s normal business hours, and on the next Business Day, if sent after the recipient’s normal business hours, on condition that the communication sent by e-mail is also sent by certified or registered mail, return receipt requested, postage prepaid; or (c) if sent internationally, on the fifth day, and if sent within Japan, on the second day, after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the Parties at the following addresses (or at such other address for a Party of which that Party notifies the other Party in accordance with this Section 8.5):

 

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If to Landlord:
    	
 
    	
Toppan Printing Co., Ltd.
   Toppan Shibaura Bldg., 3-19-26 Shibaura,
   Minato-ku, Tokyo 108-8539E-mail: teruo.ninomiya@toppan.co.jp,
   kentaro.kitaoka@toppan.co.jp
   Attention: Teruo Ninomiya and Kentaro Kitaoka

 
    
	
With a copy to (which will not
   constitute notice):
    	
 
    	
southgate (registered association)
   Pacific Square Kudan-Minami, 7th Fl
   2-4-11 Kudan-Minami, Chiyoda-ku, Tokyo 102-0074
   E-mail: emarcks@southgate-law.com
   Attention: Eric Marcks

 
    
	
If to Tenant:
    	
 
    	
VTS-TOUCHSENSOR CO., LTD.
   1101-20, Myohoji-cho, Higashiomi
   Shiga, 527-0046 Japan
   E-mail: JWoerle@via-optronics.com
   Attention: Dr. Jasmin Wörle

 
    
	
With a copy to (which will not
   constitute notice):
    	
 
    	
VIA optronics GmbH
   Sieboldstr. 18, 90411 Nurnberg
   E-mail: CAlbert@via-optronics.com
   Attention: Christine Albert

 

Jones Day
   Kamiyacho Prime Place
   1-17, Toranomon 4-chome
   Minato-ku, Tokyo 105-0001, JAPAN
   E-mail: mushijima@jonesday.com
   Attention: Makiko Ushijima
    

 

Section 8.6           Headings. The headings in this Agreement are for reference only and do not affect its interpretation.

 

Section 8.7           Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, that invalidity, illegality or unenforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable that term or provision in any other jurisdiction. Upon determination that any term or other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the Parties’ original intent as closely as possible in a mutually acceptable manner so that the transactions contemplated hereby may be consummated as originally contemplated to the greatest extent possible.

 

Section 8.8           Entire Agreement. This Agreement and the Framework Agreement constitute the sole and entire agreement of the Parties with respect to the subject matter

 

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contained herein and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to this subject matter.

 

Section 8.9           Successors and Assigns; Assignment. This Agreement is binding upon and will inure to the benefit of the parties and their respective successors and permitted assigns. Neither Party shall assign its rights or obligations hereunder without the advance written consent of the other Party, which consent must not be unreasonably withheld or delayed by either Party. No assignment will relieve the assigning Party of any of its obligations hereunder.

 

Section 8.10        No Third-party Beneficiaries. This Agreement is for the sole benefit of the Parties (and their respective heirs, executors, administrators, successors and assigns) and nothing herein, express or implied, is intended to or will confer upon any other Person, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 8.11        Amendment and Modification; Waiver. This Agreement may be amended, modified or supplemented only by an agreement in writing signed by each Party. No waiver by either Party of any of the provisions hereof will be effective unless explicitly set forth in writing and signed by that Party. No waiver by either Party will be, or will be construed as, a waiver in respect of any failure, breach or default not expressly identified by that written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement will be, or will be construed as, a waiver thereof; nor will any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

Section 8.12        Governing Law; Dispute Resolution.

 

(a)           This Agreement is governed by and to be construed in accordance with the laws of Japan without giving effect to any choice or conflict of law provision or rule.

 

(b)           The Parties shall endeavor to resolve any dispute, controversy or difference arising out of, in connection with, or related to this Agreement (a “Dispute”) through good-faith negotiations. If a Dispute is not settled within 20 days after the receipt by a Party of a written request for negotiation under this Section 8.12(b), the Dispute will be referred for consideration by the Parties’ senior officers. The senior officers will have full authority to settle the Dispute.

 

(c)           If the senior officers are unable to resolve the Dispute within 20 days after the receipt by a Party of a written request for consideration of the Dispute by senior officers under Section 8.12(b), the Parties shall submit the Dispute to arbitration in Tokyo in accordance with the Commercial Arbitration Rules of the Japan Commercial Arbitration Association for final settlement. The Parties shall appoint three arbitrators in accordance with the rules and shall conduct the arbitration in English.  The decision by the arbitration tribunal will be final and binding on the Parties and may be approved of or entered in (or otherwise be granted enforceability through necessary procedures by) any court having jurisdiction. The Parties consent to consolidation by the Japan Commercial Arbitration Association of arbitral

 

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proceedings initiated under this Agreement with arbitration proceedings initiated under the Framework Agreement.

 

Section 8.13        Specific Performance. The Parties agree that irreparable damage will occur if any provision of this Agreement is not performed in accordance with its terms and that the Parties are entitled to specific performance of its terms, in addition to any other remedy to which they are entitled at law or in equity.

 

Section 8.14        Attorneys’ Fees. If any action at law or in equity is necessary to enforce or interpret the terms of the Agreement, the prevailing Party will be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which that Party may be entitled.

 

Section 8.15        Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission will be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Parties execute this Satte Facility Lease Agreement on the date stated in the introductory clause.

 

	
 
    	
Toppan Printing   Co., Ltd.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Teruo Ninomiya
    
	
 
    	
Name: Teruo   Ninomiya
    
	
 
    	
Title: Senior   General Manager 
    

 

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IN WITNESS WHEREOF, the Parties execute this Satte Facility Lease Agreement on the date stated in the introductory clause.

 

	
 
    	
VTS-TOUCHSENSOR   CO., LTD.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Dr. Jasmin   Wörle 
    
	
 
    	
Name:   Dr. Jasmin Wörle 
    
	
 
    	
Title: Representative Director
    

 

14Exhibit 10.10

 

BUSINESS ASSISTANCE AGREEMENT

 

This Business Assistance Agreement (the “Agreement”) is entered into on March 29, 2018, between Toppan Printing Co., Ltd., a company organized under the laws of Japan (“Toppan”), and VTS-Touchsensor Co., Ltd. (formerly known as Toppan Touch Panel Products, Co., Ltd.), a company organized under the laws of Japan (the “Company”). This Agreement is effective from March 26, 2018 (the “Effective Date”). Each of Toppan and the Company is referred to as a “Party”, and together, as the “Parties”.

 

RECITALS

 

A.                                    Toppan operates a business in Japan that develops, manufactures and markets copper touch panel sensors used in touch panel modules and copper PET film used in touch panel sensors (the “Business”).

 

B.                                    Toppan and VIA optronics GmbH, a company organized under the laws of Germany (“VIA”), entered into a Framework Agreement dated November 30, 2017 (the “Framework Agreement”) pursuant to which (i) Toppan will transfer certain assets and liabilities relating to the Business to the Company and (ii) VIA will own 65% of the Company and Toppan will own 35% of the Company.

 

C.                                    In accordance with Section 2.07(a) of the Framework Agreement, the Company desires to procure, and Toppan desires to provide, certain services to support the Business, including administrative and back-office support, procurement support and design and mask support.

 

The Parties hereby agree as follows:

 

1.                                      Term.

 

(a)                                 The term of this Agreement (the “Term”) shall begin on the Effective Date, and shall continue for 3 years unless terminated earlier (i) in writing by the Company on the 30th day after the Company delivers a notice of termination to Toppan in writing or (ii) pursuant to Section 1(b), Section 1(c), or Section 1(d).

 

(b)                                 Either Party may terminate this Agreement immediately upon giving written notice to the other Party if the other Party: (1) becomes insolvent or its liabilities exceeds its assets; (2) suspends payments or any drafts or checks drawn, issued, or undertaken by the other Party are dishonored, (3) becomes subject, voluntarily or involuntarily, to any bankruptcy, civil rehabilitation, corporate reorganization, or other legal procedure for debt restructuring or work-out (out-of-court procedure for its debts); or (4) is dissolved or liquidated or takes any corporate action for such purpose.

 

(c)                                  Either Party may terminate this Agreement immediately upon giving written notice to the other Party if the other Party materially breaches this Agreement and, if such breach is curable, fails to cure such breach within 15 days after the first Party’s written notice of such breach.

 

 

(d)                                 Toppan may terminate this Agreement immediately upon giving written notice to the Company if (i) VIA, alone or in combination with its affiliates, no longer has a majority stake in the Company or the right to appoint a majority of the Company’s board members, or (ii) Toppan no longer holds any shares in the Company.

 

2.                                      Services.

 

(a)                                 Toppan shall perform the services set forth on Schedule 1 (the “Services”) in accordance with the terms contained therein. The Services set forth on Schedule 1 may be altered, from time to time, to expand, reduce or delete Services, to alter the scope of any of the Services, or to modify their frequency (in which case appropriate changes to the section of the Payment of the Work (Cost of Consignment), including the Standard Monthly Fee, may be made) upon mutual consent of the Parties, which consent shall revise Schedule 1 and supersede and replace the Schedule 1 then in effect. The Company shall furnish Toppan with such information and other reasonable assistance as is necessary to enable Toppan to perform the Services.

 

(b)                                 Toppan will use reasonable and good care, skill and diligence to perform the Services, which shall be at minimum at the same level as Toppan provides or would provide to its own firm or to its other affiliates under similar circumstances.

 

3.                                      Staffing. In the provision of Services, Toppan will allocate an appropriate number of staff with appropriate qualifications to perform the Services.

 

4.                                      Fees and Expenses.

 

(a)                                 In consideration for the Services provided by Toppan, the Company shall pay Toppan an amount equal to the aggregate figures listed in “(4) Payment of the work (Cost of consignment) - Standard Monthly Fee” in Schedule 1, subject to the adjustment set forth in Section 5 below (the “Fees”).

 

(b)                                 Toppan may, with the Company’s consent, incur expenses, such as travel expenses, in connection with performance of the Services (the “Expenses”). Toppan shall pay the Expenses in the first instance and the Company shall reimburse Toppan for the Expenses. The Company acknowledges that if it does not grant its consent to Toppan’s incurrence of an expense, Toppan will not be obligated to incur that expense and Toppan will not be deemed to have breached its obligation to perform a Service if the reason Toppan does not perform the Service is attributable to the Company’s failure to consent to an expense that is necessary for Toppan’s performance of the Service.

 

5.                                      Invoicing for Fees and Expenses. Toppan shall calculate the Fees for Services rendered each month, taking into account the proportion of total work hours each Toppan staff spends on the Services (i.e., the Fees for a Toppan staff who spends 80% of his or her work time performing a Service would be that proportion multiplied by the Standard Monthly Fee

 

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corresponding to the Service) will invoice the Company monthly for the Fees for Services rendered and for Expenses incurred through the end of each month. Each invoice shall include sufficient detail to support the Fees and Expenses set forth therein. All invoices will be in Japanese Yen. The Company will pay the invoiced amounts within 60 days of receipt of each invoice. Payments shall be made by wire transfer of immediately available funds to the following account, or such other account as Toppan may designate to the Company in writing:

 

Bank Name: SUMITOMO MITSUI BANKING CORPORATION

Branch Name: Nihonbashi

Branch Bank Address: 2-1-1, Nihonbashimuromachi, Chuo-ku, 
 Tokyo, 103-0022, Japan

SWIFT CODE: SMBCJPJT

Account No: 1025362

Beneficiary name: TOPPAN PRINTING CO., LTD.

Beneficiary address: 1-5-1, Taito, Taito-ku, Tokyo, Japan

 

6.                                      Supply Price. Any supplies obtained from third parties sold by Toppan to the Company in connection with the provision of the Services shall be sold without any mark-up and at the price that Toppan paid for such supplies.

 

7.                                      Books and Records. Toppan shall maintain accurate and complete books of account, documents and records relating to the provision of the Services for a period of five years from the creation of those books, and documents, and records. During the Term, Toppan agrees to provide the Company reasonable access to Toppan’s books and records that it is obligated to maintain pursuant to the previous sentence as necessary to monitor the Services and invoicing therefor.

 

8.                                      Confidentiality. Each Party agrees not to disclose the contents of this Agreement or the other Party’s Confidential Information without the other Party’s advance written consent. “Confidential Information” of a Party means all non-public or sensitive or proprietary information about or of that Party but does not include information (a) that has become publicly known through no breach by either Party of its confidentiality obligations hereunder, (b) that is independently and lawfully developed or obtained by a Party without access to the other Party’s Confidential Information, (c) is or becomes available to a Party on a non-confidential basis from a third Person, on condition that that third Person is not and was not prohibited from disclosing that information, or (d) that was known by or in the possession of a Party before the disclosure of that information to that Party pursuant to this Agreement, on condition that, in the case of each of (a) through (d), the Party seeking to disclose such information has the burden of demonstrating that it is not Confidential Information: provided, however, each Party may disclose such Confidential Information to its affiliates, in each case on a need-to-know basis for the purpose of facilitating the performance of this Agreement, on condition that the disclosing Party cause its affiliates that have received any Confidential Information of the other Party to comply with this provision and that the disclosing Party be responsible for any act by such affiliates that would constitute a breach of this provision had the act been undertaken by the disclosing Party. A Party may disclose Confidential Information of the other Party if required pursuant to applicable law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction, on condition that the Party first make commercially reasonable efforts to provide the other Party

 

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(i) prompt written notice of such requirement so that the other Party may seek, at its sole cost and expense, a protective order or other remedy, and (ii) reasonable assistance, at the other Party’s sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on disclosure.

 

9.                                      Relationship of the Parties. In performing the Services, it is understood and agreed that Toppan will be deemed to be an independent contractor of the Company.

 

10.                               Indemnification.

 

(a)                                 Toppan shall indemnify the Company from and against any loss, liability, damage or expense suffered or incurred as a result of Toppan’s gross negligence or willful misconduct in performing the Services, in accordance to the general principals of applicable contract laws in Japan.

 

(b)                                 WITH THE EXCEPTION OF THE FIRST SENTENCE IN SECTION 2(b), TOPPAN EXPRESSLY DISCLAIMS ALL WARRANTIES CONCERNING THE SERVICES (INCLUDING THE RESULTS OF THE SERVICES); WHETHER EXPRESS OR IMPLIED BY LAW.

 

(c)                                  EXCEPT FOR DAMAGES ARISING FROM EITHER PARTY’S INTENTIONAL MISCONDUCT OR GROSS NEGLIGENCE, TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE, OR ENHANCED DAMAGES WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PRODUCT LIABILITY, OR OTHERWISE (INCLUDING THE ENTRY INTO, PERFORMANCE, OR BREACH OF THIS AGREEMENT). UNDER NO CIRCUMSTANCES WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR DAMAGES IN EXCESS OF THE AMOUNT OF PAYMENTS RECEIVED BY TOPPAN UNDER THIS AGREEMENT.

 

11.                               Communication. All written or oral communication between the Parties related to this Agreement and that involve the participation of a Company officer, director, or employee who does not speak Japanese shall be in the English language. Other communications in connection with this Agreement between Japanese-speaking Toppan personnel and Japanese-speaking Company personnel may be in Japanese if it is efficient to do so and as long as any information exchanged in such communications that is material to the Company’s operations or that should, by its nature, be conveyed to the Company board of directors, is subsequently recorded or conveyed to the Company board in English. All costs and expenses related to any translation or interpretation services required by either Party shall be borne by the Party requiring such translation or interpretation services.

 

12.                               Notices. All notices under this Agreement that are required to be in writing shall be given in writing upon receipt by either registered mail, return receipt requested, by recognized overnight courier, by email, or by such other means as the Parties mutually agree, as follows:

 

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If to Toppan:

 

Toppan Printing Co., Ltd.

Toppan Shibaura Bldg.

3-19-26 Shibaura Minato-ku, Tokyo 108-8539

Email: teruo.ninomiya@toppan.co.jp

kentaro.kitaoka@toppan.co.jp

Attention: Teruo Ninomiya and Kentaro Kitaoka

 

If to the Company:

 

VTS-Touchsensor Products, Co., Ltd.

1101-20, Myohoji-cho, Higashiomi

Shiga, 527-0046, Japan

Email: JWoerle@via-optronics.com

Attention: Dr. Jasmin Wörle

 

With a copy (which will not constitute notice):

 

VIA optronics GmbH

Sieboldstr. 18, 90411 Nurnberg

E-mail: kbickelbacher@via-optronics.com

Attention: Kathrin Bickelbacher

 

Jones Day

Kamiyacho Prime Place

1-17, Toranomon 4-chome

Minato-ku, Tokyo 105-0001, JAPAN

E-mail: mushiiimaionesday.com

Attention: Makiko Ushijima

 

13.                               Headings. The headings in this Agreement are for reference only and do not affect its interpretation.

 

14.                               Entire Agreement. This Agreement, and all related Schedules hereto or Statements of Work delivered hereunder, constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to this subject matter.

 

15.                               Successors and Assigns; Assignment. This Agreement is binding upon and will inure to the benefit of the Parties and their respective successors and permitted assigns. Neither Party shall assign its rights or obligations hereunder without the advance written consent of the other Party, which consent must not be unreasonably withheld or delayed by either Party. No assignment will relieve the assigning Party of any of its obligations hereunder.

 

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16.                               No Third Party Beneficiaries. This Agreement is for the sole benefit of the Parties (and their respective successors and assigns) and nothing herein, express or implied, is intended to or will confer upon any other Person, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

17.                               Amendment and Modification; Waiver. This Agreement may be amended, modified or supplemented only by an agreement in writing signed by each Party. No waiver by either Party of any other provisions hereof will be effective unless explicitly set forth in writing and signed by that Party. No waiver by either Party will be, or will be construed as, a waiver in respect of any failure, breach or default not expressly identified by that written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement will be, or will be construed as, a waiver thereof, nor will any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

18.                               Governing Law. This Agreement shall be governed by and construed in accordance with the laws of Japan without giving effect to any choice or conflict of law provision or rule.

 

19.                               Dispute Resolution. The Parties shall endeavor to resolve any dispute, controversy or difference arising out of, in connection with, or related to this Agreement (a “Dispute”) though good-faith negotiations. If a Dispute is not settled within 20 days after receipt by a Party of a written request for negotiation under this Section 19, the Dispute will be referred for consideration by the Parties’ senior officers. The senior officers will have full authority to settle the Dispute. If the senior officers are unable to resolve the Dispute within 20 days after the receipt by a Party of a written request for consideration of the Dispute by senior officers under this Section 19, the Parties shall submit the Dispute to arbitration in Tokyo in accordance with the Commercial Arbitration Rules of the Japan Commercial Arbitration Association for final settlement. The Parties shall appoint three arbitrators in accordance with the rules and shall conduct the arbitration in English. The decision by the arbitration tribunal will be final and binding on the Parties and may be approved of or entered in (or otherwise be granted enforceability through necessary procedures by) any court having jurisdiction. The Parties consent to the consolidation by the Japan Commercial Arbitration Association of arbitral proceedings initiated under this Agreement with arbitration proceedings initiated under any one or more of the Ancillary Agreements (as defined in the Framework Agreement) (notwithstanding the fact that those agreements may be governed by different laws).

 

20.                               Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email or other means of electronic transmission will be deemed to have the same legal effect as delivery of any original signed copy of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Parties have executed this Business Assistance Agreement on the date first stated above.

 

	
 
    	
TOPPAN PRINTING   CO., LTD.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Teruo Ninomiya
    
	
 
    	
Name: Teruo Ninomiya
    
	
 
    	
 
    
	
 
    	
Title: Senior General   Manager
    

 

 

IN WITNESS WHEREOF, the Parties have executed this Business Assistance Agreement on the date first stated above.

 

	
 
    	
VTS-TOUCHSENSOR   PRODUCTS, CO., LTD.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Dr. Jasmin Wörle
    
	
 
    	
Name: Dr. Jasmin   Wörle
    
	
 
    	
 
    
	
 
    	
Title: Representative   Director
    

 

 

Schedule 1   Consignment Work List Monthly Fee delivery customer’s approval. (TP Technical   Taro Sakamoto company company statement (draft) will be Prepared confirmation   / approval of contents government offices at an appropriate electronic   manifest 7 business days. Before appraisal, appropriate personnel   consideration (compensation) for Response to social security system expenses   for principal environment Performing obligation environment environment in   compliance with laws Department 1) Scope of Work 2) Task 3) Deliverables 4)   Payment of the work (Cost of consignment) 5)Expected Outcomes (e.g. PO issued   financial data provided on xx date,) Proportion (Schedule) Number of   Persons/month Standard Sales/CS Supporting Sales and production control   Preparation of price proposal, creation of quotation for customer submission   Develop customer supply drawing, hold design review meeting Product   arrangement Follow up delivery schedule Shipment arrangement Processing   instructions at the time of complaint Price Proposal, Quotation Design Review   Minutes Payment date response form Shipping instructions Processing in the   factory related to complaint processing 100% 2 persons 979, 276 Replying   price to customer requirements Adjustment for customer’s requested date   Delivery of products as expected Appropriate complaint handling Design   Manufacturing design operation 1) Pattern design 2) CAD 3) Checking Drawing   1) Mask design instruction, customer approval drawing 2) 3) Mask Production   drawing (toppan – mask vendor) 100% ‘33%x3 Persons’ 6 persons 3 persons   5,213,904 551,782 816,008 1). Pattern design according to customer’s request   and get Opening 2T) 2) Instructions for manufacturing masks according to   customers’ requests (Manufacturing design (Shim)) 3) Instructions for   manufacturing masks according to customers’ requests 1) Pattern Design   Takahiro Harada (Manager) Kanae Bani Bi shi (Contract Engineer) Masaaki   Serizawa (Contract Engineer) Muhammad Razin (Contract Engineer) 2)CAD, 3)   Checking Drawing Yasunori Kitagawa Tetsutaro Kawabata Kazuki Shima   Procurement Purchasing service agency 1) Main materials, sub-materials and   equipment procurement 2) Purchasing specification maintenance 3) Vendor   management 4) Repair price negotiation Possible procurement under letterpress   transaction Counterparty on concluding and maintenance Stable procurement   through monitoring Possible procurement under letterpress transaction   conditions (price, delivery date) 100% 2 persons Price negotiation for cost   reduction Reduction of workload of new company Reduction of workload of new   Reduction of workload of new Accounting Accounting / accounting work of the   new company, substitution for inventory calculation work 1) Bookkeeping   business 2) Management of liability outstanding balance 3) Payment approval   work 4) Calculation of valuation of products • work in process 0) Others VTS,   work agreed on letterpress (assuming support for account owning and tax   notice) Based on Japanese GAAP Balance sheet • Profit and loss statement   (draft) (Response and explanation such as confirmation / approval of contents   and audit etc. Responsibility is out of scope) 100% 1 person 1,1478,001 Based   on Japanese GAAP Balance sheet • profit and loss (Response and explanation   such as and audit etc. Responsibility is out of scope) Environment Work   related to environmental improvement 1) Government agency reporting of   notification procedures and annual results (energy, chemicals, industrial   waste) based on environmental laws of the new company 2) Follow-up system for   industrial waste disposal (Support for concluding contract with contractor,   support for electronic manifest operation) 3) Support for continuation of ISO   14001 certification Conduct obligation to comply with government agency   reports on environment Conclusion of contracts for contracting industrial   waste • commissioned operation, electronic manifest operation support   Continuation of ISO 14001 certification 30% 30% 40% 1 person 1person 1 person   197,871 Report notification procedures and yearly results (energy, chemical   substances, industrial waste) based on environmental laws of VTS to time.   Support for concluding contract with contractor for industrial waste   disposal, support for managing Continued ISO 14001 certification, prevention   of environmental accidents General Affairs Administrative work of seconded   employees 1) Labor management (such as attendance management, arrangement of   medical examination etc.) 2) Personnel evaluation, personnel change   correspondence (adjustment of appraisal of regular salary / bonus,   correspondence of personnel change, organization of various in-house   education, etc.) 3) Salary / bonus calculation, payment 4) Social insurance   (health insurance / welfare pension) Employment insurance procedure 5)   Contingency expense, checking of business trip settlement work (general   affairs approval work ... BIT system) 6) Welfare welfare (welfare   association, financial form, Izumi party, lek, various events, etc.) 7)   Payment processing of expenses necessary for the operation of corporate   activities (facility utility fee (gas, electricity & water), pest control   • cleaning & garbage disposal fee, medical examination, postage charge,   uniform cleaning fee etc.), as agreed by the Company 8) Labor Insurance   premium payment support (data provision to social insurance labor office) We   provide time data (overtime work / temporary attendance time) from 1st of the   current month to the end of this month by the next implementing the medical   examination, notify the list of subjects and estimate amount. Adjustment   result of adjustment of personnel evaluation (regular salary revision, bonus   ... twice a year, grading promotion, supervisory appointment and dismissal)   feedback, reflection on salary • bonus amount, notification of personnel   change notification before implementation, notification before implementation   of various In-house training Salary payment to seconded employees is 25th   every month. Present invoiced labor cost to VTS from accounting (in the case   of salary base at the end of the current month, on the basis of labor cost the   eighth business day of the next month) Payment of insurance premium.   Regarding company burden amount, it is presented from accounting, including   in labor cost. Payment is carried out at any time. We present billing   expenses to VTS from accounting. Presentation from company accounting   Presented from accounting by billing amount Provide data to the social   insurance labor office at the annual renewal (June) 100% 1 person 494,680   Realization of a healthy working environment conforming to laws and   regulations. Employee health management. Reflect on the treatment according   to allocation Execution obligation to pay labor Completion obligation of   liquidating Realization of safe and secure work to pay necessary expenses.   Realization of a clean and safe work Realization of a healthy working and   regulations 

    

 

Monthly Fee   sorting customer delivered items and instructed by VTS. VTS, shipping   processing: creation finished products, reporting to VTS carry out the work   from issuance of company and training based on BCP accidents (Note) Either   delegate Department 1) Scope of Work 2) Task 3) Deliverables 4) Payment of   the work (Cost of consignment) 5)Expected Outcomes (e.g. PO issued financial   data provided on xx date,) Proportion (Schedule) Number of Persons/month   Standard Production Control Product shipping business 1) Acceptance / sorting   of products: acceptance of shipped products from the VTS manufacturing   department, sorting of customer delivered items and outsourced processed   items 2) Issuance of product label: the work from issuance and pasting of   packing exterior label required for product (including issuance and pasting   of case mark of products to be shipped to overseas customers) 3) Shipment   processing: creation of shipping processing details of finished products,   reporting to VTS production management, issuance of invoice 4) Packing   /.shipping: work until issuance of a form required for shipping the product   to the shipping company Inventory table Product label Delivery note Packing /   shipping: Issuance of a form required for shipping products 100% 2 persons   1,086,004 Acceptance of shipped products from the VTS manufacturing division,   outsourced processed items. Issue and paste the product label as According to   the Instructions of of shipping processing details of production management   and issuing invoice Follow the instructions of VTS to the form required for   shipment to delivery to the shipping company. Quality Control QMS management   secretariat Management of chemical substances contained in products BCP   Management Office Safety risk assessment secretariat 1) Internal audit   management, auditor training 2) New company OMS launch support 3) Support for   acquisition of ISO 9001 certification 1) Supplier survey, preparation of   report 2) Management of green procurement guidelines 1) Document management,   BCP training to letterpress or consult after April 1) Secretariat of in   -process work risk analysis (publication setup) Internal audit report,   auditor certification Quality manual, upper standard revision ISO 9001   certification Product content survey report Green Procurement Guidelines   Prepare for response in case of emergency Risk assessment table 15% 20% (2%)   5% 2 persons 1 person (1 person) 1 person 349,236 Construction and operation   of the new company’s OMS Acquired 1509001 certification Reduction of workload   of new Continuation of BCM and education Risk reduction of occupational

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