Document:

nvcr-ex104_237.htm

Exhibit 10.4

NOVOCURE LIMITED

Non-Qualified Stock Option Agreement for Employees in Sweden

Pursuant to the

NovoCure Limited

2015 Omnibus Incentive Plan

AGREEMENT (this “Agreement”), dated as of [GRANT DATE] between NovoCure Limited, a Jersey Isle company (the “Company” and, collectively with its controlled Affiliates, the “ Employer”), and [PARTICPANT NAME]  (the “Participant”).

Preliminary Statement

The Committee hereby grants this non-qualified stock option (the “Stock Option”) on [GRANT DATE] (the “Grant Date ”) pursuant to the NovoCure Limited 2015 Omnibus Incentive Plan, as it may be amended from time to time (the “ Plan ”), to purchase the number of Ordinary Shares set forth below to the Participant, as an Eligible Employee, Consultant or Non-Employee Director. Except as otherwise indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan. By signing and returning this Agreement, the Participant acknowledges having received and read a copy of the Plan and agrees to comply with it, this Agreement and all applicable laws and regulations.

Accordingly, the parties hereto agree as follows:

1. Tax Matters. No part of the Stock Option is intended to qualify as an “incentive stock option” under Section 422 of the Code.

2. Grant of Stock Option. Subject to the Plan and the terms and conditions set forth herein and therein, the Participant is hereby granted the Stock Option to purchase from the Company [NUMBER OF SHARE OPTIONS GRANTED] Ordinary Shares at a price per share of US$[GRANT PRICE] (the “ Exercise Price ”).

3. Vesting.

(a)(a) Vesting Schedule.  The Stock Option shall vest and become exercisable on the dates and amounts as set forth in the table below; provided, with respect to each vesting date, that the Participant has not experienced a Termination prior to such date.  There shall be no proportionate or partial vesting in the periods prior to each vesting date.

		
	
Vesting Dates
	
Options Vesting

	
[Vest Date 1]
	
[Quantity Vesting 1]

	
[Vest Date 2]
	
[Quantity Vesting 2]

	
[Vest Date 3]
	
[Quantity Vesting 3]

	
[Vest Date 4]
	
[Quantity Vesting 4]

 

(b)Unvested Stock Options.  Any portion of the Stock Option that is not vested as of or upon the date of a Participant’s Termination for any reason shall terminate and expire on the date of such Termination. 

 

 

4. Exercise.

(a) To the extent that the Stock Option has become vested and exercisable with respect to a number of Ordinary Shares, the Stock Option may thereafter be exercised by the Participant, in whole or in part, at any time or from time to time prior to the expiration of the Stock Option in accordance with the Plan. The Participant may exercise the Stock Option by delivering to the Company written notice of the number of Ordinary Shares covered by the exercise, together with the aggregate Exercise Price. Payment may be made by: (i) cash, check, bank draft or money order payable to the order of the Company; (ii) solely to the extent permitted by applicable law, through a procedure whereby the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Company to deliver promptly to the Company an amount equal to the aggregate Exercise Price; or (iii) on such other terms and conditions as may be acceptable to the Committee. Upon expiration of the Stock Option, the Stock Option shall be canceled and no longer exercisable.

(b) Unless otherwise directed or permitted by the Committee, the Participant must pay or provide for all applicable withholding taxes in respect of the exercise of the Stock Option by (i) remitting the aggregate amount of such taxes to the Company in full, by cash, check, bank draft or money order payable to the order of the Company; (ii) to the extent permitted by the Committee, by making arrangements with the Company to have such taxes withheld from other compensation due to Participant; or (iii) solely to the extent permitted by applicable law and authorized by the Committee, through a procedure whereby the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Company to deliver promptly to the Company an amount equal to the applicable withholding taxes.

(c) Upon the exercise of the Stock Option, the Participant:

(i) will be deemed to acknowledge and make such representations and warranties as may be requested by the Company for compliance with applicable laws, and any issuances of Ordinary Shares by the Company shall be made in reliance upon the express representations and warranties of the Participant; and

(ii) will not sell, transfer or otherwise dispose of the Ordinary Shares in violation of the Plan or this Agreement or dispose of the Ordinary Shares unless and until the Participant has complied with all requirements of this Agreement applicable to the disposition of the Ordinary Shares.

(d) Pursuant to the Plan, in the event the Participant engages in Detrimental Activity prior to any exercise of the Stock Option, the Stock Option shall thereupon terminate and expire. As a condition of the exercise of the Stock Option, the Participant shall be required to certify in a manner acceptable to the Company (or shall be deemed to have certified) that the Participant is in compliance with the terms and conditions of the Plan and that the Participant has not engaged in, and does not intend to engage in, any Detrimental Activity. In the event the Participant engages in Detrimental Activity during the one-year period commencing on the date the Stock Option is exercised, the Company shall be entitled to recover from the Participant, at any time within one year after such Detrimental Activity, and the Participant shall pay over to the Company, the Ordinary Shares received from such exercise, or, if such Ordinary Shares have been transferred, an amount equal to Fair Market Value of such Ordinary Shares on the date of such exercise.

(e) The restrictions regarding Detrimental Activity are necessary for the protection of the business and goodwill of the Company and are considered by the Participant to be reasonable for such purposes. Without intending to limit the legal or equitable remedies available in the Plan and in this Agreement, the Participant acknowledges that engaging in Detrimental Activity will cause the Company material irreparable injury for which there is no adequate remedy at law, that it will not be possible to 

2

 

 

measure damages for such injuries precisely and that, in the event of such activity or threat thereof, the Company shall be entitled, in addition to the remedies provided under the Plan, to obtain from any court of competent jurisdiction a temporary restraining order or a preliminary or permanent injunction restraining the Participant from engaging in Detrimental Activity or such other relief as may be required to specifically enforce any of the covenants in the Plan and this Agreement without the necessity of posting a bond, and in the case of a temporary restraining order or a preliminary injunction, without having to prove special damages.

5. Stock Option Term. The term of the Stock Option shall be until the tenth anniversary of the Grant Date, after which time it shall expire (the “Expiration Date”), subject to earlier termination in the event of the Participant’s Termination as specified in the Plan and this Agreement. Notwithstanding anything herein to the contrary, upon the Expiration Date, the Stock Option (whether vested or not) shall be immediately forfeited, canceled and terminated for no consideration and no longer shall be exercisable. The Stock Option is subject to termination prior to the Expiration Date to the extent provided in the Plan or this Agreement.

6. Termination and Change in Control. The provisions in the Plan regarding Termination and Change in Control shall apply to the Stock Option.

7. Restriction on Transfer of Stock Option. The provisions in the Plan regarding restrictions on Transfer shall apply to the Stock Option.

8. No Rights as a Stockholder. The Participant shall not have any rights as a stockholder of the Company with respect to any Award until the Participant becomes the holder of record of the Ordinary Shares underlying the Award.

9. Provisions of Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan, including the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be adopted by the Committee and as may be in effect from time to time. The Plan is incorporated herein by reference. If and to the extent that this Agreement conflicts or is inconsistent with the Plan, the Plan shall control, and this Agreement shall be deemed to be modified accordingly.

10. Notices. All notices, demands or requests made pursuant to, under or by virtue of this Agreement must be in writing and sent to the party to which the notice, demand or request is being made:

(a) unless otherwise specified by the Company in a notice delivered by the Company in accordance with this Section 10 , any notice required to be delivered to the Company shall be properly delivered if delivered to:

NovoCure Limited

20 Valley Stream Pkwy

Suite 300

Malvern, PA 19355

Attention:         General Counsel

Telephone:       (212) 767-7530

(b) if to the Participant, to the address on file with the Employer.

Any notice, demand or request, if made in accordance with this Section 10 shall be deemed to have been duly given: (i) when delivered in person; (ii) three days after being sent by United States mail; or (iii) on 

3

 

 

the first business day following the date of deposit if delivered by a nationally recognized overnight delivery service.

11. No Right to Employment/Consultancy/Directorship. This Agreement shall not give the Participant or other Person any right to employment, consultancy or directorship by the Employer, or limit in any way the right of the Employer to terminate the Participant’s employment, consultancy or directorship at any time.

12. Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT, FOR ITSELF AND ITS AFFILIATES, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE ACTIONS OF THE PARTIES HERETO OR THEIR RESPECTIVE AFFILIATES PURSUANT TO THE PLAN OR THIS AGREEMENT OR IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT OF THE PLAN OR THIS AGREEMENT.

13. Severability of Provisions. If at any time any of the provisions of this Agreement shall be held invalid or unenforceable, or are prohibited by the laws of the jurisdiction where they are to be performed or enforced, by reason of being vague or unreasonable as to duration or geographic scope or scope of the activities restricted, or for any other reason, such provisions shall be considered divisible and shall become and be immediately amended to include only such restrictions and to such extent as shall be deemed to be reasonable and enforceable by the court or other body having jurisdiction over this Agreement and the Company and the Participant agree that the provisions of this Agreement, as so amended, shall be valid and binding as though any invalid or unenforceable provisions had not been included.

 

14. Governing Law. All matters arising out of or relating to this Agreement and the transactions contemplated hereby, including its validity, interpretation, construction, performance and enforcement, shall be governed by and construed in accordance with the internal laws of the Jersey Isles, without giving effect to its principles of conflict of laws.

15. Section 409A. The Stock Option is intended to be exempt from the applicable requirements of Section 409A and shall be limited, construed and interpreted in accordance with such intent;  provided , that the Employer does not guarantee to the Participant any particular tax treatment of the Stock Option. In no event whatsoever shall the Employer be liable for any additional tax, interest or penalties that may be imposed on the Participant by Section 409A or any damages for failing to comply with Section 409A.

16. Interpretation. Unless a clear contrary intention appears: (a) the defined terms herein shall apply equally to both the singular and plural forms of such terms; (b) reference to any Person includes such Person’s successors and assigns but, if applicable, only if such successors and assigns are not prohibited by the Plan or this Agreement, and reference to a Person in a particular capacity excludes such Person in any other capacity or individually; (c) any pronoun shall include the corresponding masculine, feminine and neuter forms; (d) reference to any agreement, document or instrument means such agreement, document or instrument as amended or modified and in effect from time to time in accordance with the terms thereof; (e) reference to any law, rule or regulation means such law, rule or regulation as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect from time to time, including rules and regulations promulgated thereunder, and reference to any section or other provision of any law, rule or regulation means that provision of such law, rule or regulation from time to time in effect and constituting the substantive amendment, modification, codification, replacement or reenactment of such section or other provision; (f) “hereunder,” “hereof,” “hereto,” and words of similar import shall be 

4

 

 

deemed references to this Agreement as a whole and not to any particular article, section or other provision hereof; (g) numbered or lettered articles, sections and subsections herein contained refer to articles, sections and subsections of this Agreement; (h) “including” (and with correlative meaning “include”) means including without limiting the generality of any description preceding such term; (i) “or” is used in the inclusive sense of “and/or”; (j) references to documents, instruments or agreements shall be deemed to refer as well to all addenda, exhibits, schedules or amendments thereto; and (k) reference to dollars or $ shall be deemed to refer to U.S. dollars.

17. No Strict Construction. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted.

[Remainder of Page Left Intentionally Blank]

 

5

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year first above written.

 

 

 

 

NOVOCURE LIMITED

 

By: /s/ William F. Doyle

William F. Doyle
Executive Chairman of the Board of Directors

 

 

 

 

 

Signed as of [Acceptance Date].

 

			
	
 
	
 
	
 

	
PARTICIPANT

	
 
	
 

	
By:
	
 
	
[Electronic Signature]

	
Name:
	
 
	
 [Participant Name]

	
 

 

6Exhibit

	
	
	

Exhibit 10.35

AMENDMENT AGREEMENT NO. 2 TO
EUR 225,000,000 TERM LOAN AGREEMENT
 DATED JANUARY 26, 2018 

This amendment agreement (the Second Amendment Agreement) is dated February 25, 2019 and is made between:

		
	(1)
	Xylem Europe GmbH, a company incorporated under the laws of Switzerland, having its registered address at Bleicheplatz 6, 8200 Schaffhausen, Switzerland, registration number CH-287.650.247 (the Borrower); 

		
	(2)
	Xylem Inc., an Indiana company incorporated under the laws of United States of America, having its registered address at 1 International Drive, Rye Brook, NY 10573, United States of America, registration number 201 105 050 0560 (the Parent Guarantor); 

		
	(3)
	ING Bank, a branch of ING-DiBa AG, a company incorporated under the laws of Germany, having its registered address at Hamburger Allee 1, 60486 Frankfurt am Main (the Bank). 

WHEREAS

		
	(A)
	The Borrower, the Parent Guarantor and the Bank (together the Parties) have entered into a EUR 225,000,000 term loan agreement dated January 26, 2018 as amended by the first amendment agreement dated January 25, 2019  (the Facility Agreement);

		
	(B)
	The Borrower has requested the Bank to amend the Facility Agreement.

		
	(C)
	The Parties have agreed to amend the Facility Agreement as set forth in this Second Amendment Agreement. 

IT IS AGREED AS FOLLOWS:

		
	1.
	DEFINITIONS AND INTERPRETATION

		
	(a)
	Words and expressions defined in the Facility Agreement shall, unless the context otherwise requires, have the same meaning when used herein.

		
	(b)
	Effective Date means the date on which the Bank has notified the Borrower that it has received all of the documents and evidence set out in Schedule 1 Conditions Precedent of this Second Amendment Agreement in form and substance satisfactory to the Bank.

		
	(c)
	As from the Effective Date all references in the Facility Agreement to "this Agreement" or to clauses, sub-clauses or paragraphs of the Facility Agreement shall be read and construed as references, respectively, to the Facility Agreement and to such clauses, sub-clauses and paragraphs as are amended by the terms of this Second Amendment Agreement. The words "hereof" and "hereunder" where used in the Facility Agreement shall be construed as referring to the Facility Agreement as amended by the terms of this Second Amendment Agreement.

		
	(d)
	Subject only to the modifications in this Second Amendment Agreement, all other terms and conditions of the Facility Agreement remain in full force and effect.

		
	(e)
	This Second Amendment Agreement is a Finance Document.

		
	2.
	AMENDMENT

The Parties agree to amend the Facility Agreement, subject to the terms of this Second Amendment Agreement as of the Effective Date as follows:
		
	(a)
	The following Definitions shall be added to Clause 1. Definitions of the Facility Agreement: 

Swiss Guidelines means all relevant guidelines or explanatory notes issued by the Swiss Federal Tax Administration as amended, replaced or issued from time to time, including the established practice of the Swiss Federal Tax Administration and any court decision relating thereto.

	
			
	 
	1
	 

	
	
	

Exhibit 10.35

Swiss Qualifying Bank means:
		
	a.
	a bank or other financial institution acting on its own account which is recognised as a bank by the banking laws in force in its jurisdiction of incorporation; or 

		
	b.
	a branch of a bank or other financial institution which is recognised as a bank by the banking laws in force in the jurisdiction where such branch is situated,

which, in each case, exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and authority of decision making, all in accordance with the meaning of the Swiss Guidelines.
Swiss Twenty Non-Bank Rule means the rule that the aggregate number of creditors (including the Bank but excluding, as per article 14a of the Swiss Withholding Tax Ordinance, members of the Group), other than Swiss Qualifying Banks, of the Borrower under all outstanding borrowings (including under the Finance Documents), made or deemed to be made by the Borrower must not at any time exceed 20, all in accordance with the Swiss Guidelines.
Swiss Withholding Tax means any taxes imposed under the Swiss Withholding Tax Act.
Swiss Withholding Tax Act means the Swiss Federal Act on the Withholding Tax of 13 October 1965 (Bundesgesetz über die Verrechnungssteuer), together with the related ordinances, regulations and guidelines, all as amended and applicable from time to time.
Swiss Withholding Tax Ordinance means the Swiss Federal Ordinance on the Withholding Tax of 19 December 1966 (Verordnung über die Verrechnungssteuer), as amended and applicable from time to time.
		
	(b)
	The following Definition in Clause 1. Definitions of the Facility Agreement is amended and reads as follows:

Extended Final Maturity Date means 28 February 2020 or such other later date as agreed between the Bank and the Borrower in writing.
		
	(c)
	Clause 4.6. Conditions Subsequent and Schedule 2 Conditions Subsequent in the Facility Agreement are deleted. 

		
	(d)
	The following shall be added to Clause 5. Interest and Fees of the Facility Agreement: 

5.7 Minimum interest
(1)    By entering into this Agreement, the Parties have assumed that the interest payable at the rates specified in this Agreement is not and will not be subject to any tax deduction on account of Swiss Withholding Tax. Nevertheless, if a tax deduction is required by law to be made by the Borrower on account of Swiss Withholding Tax in respect of any interest payable by it under a Loan and should it be unlawful for the Borrower to comply with Clause 17.3. Gross up for any reason (where this would otherwise be required by the terms of such Clause), and if the gross-up is effectively not paid:
		
	a.
	the applicable interest rate in relation to that interest payment shall be (A) the interest rate which would have applied to that interest payment as provided for otherwise in this Clause 5. Interest and Fees in the absence of this Clause (1), divided by (B) 1 minus the rate at which the relevant tax deduction is required to be made (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); 

		
	b.
	(A) the Borrower shall be obliged to pay the relevant interest at the adjusted rate in accordance with this Clause 5. Interest and Fees, and (B) the Borrower shall make the tax deduction (within the time allowed and in the minimum amount required by law) on the interest so recalculated; and

		
	c.
	all references to a rate of interest under such Loan shall be construed accordingly.

(2)    To the extent that interest payable by the Borrower under this Agreement becomes subject to Swiss Withholding Tax, the Bank and the Borrower shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Borrower to obtain authorisation to make interest payments without them being subject to Swiss Withholding Tax or to reduce the applicable withholding tax rate and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.
		
	(e)
	The following shall be added to Clause 10. General Covenants of the Facility Agreement: 

	
			
	 
	2
	 

	
	
	

Exhibit 10.35

10.11 Compliance with Swiss Twenty Non-Bank Rule
The Borrower shall at all times during the term of this Agreement and for so long as any amount is outstanding under the Finance Documents be in compliance with the Swiss Twenty Non-Bank Rule.
		
	(f)
	The following shall be added to Clause 11. Representations of the Facility Agreement: 

11.10 Compliance with Swiss Twenty Non-Bank Rule
The Borrower is in compliance with the Swiss Twenty Non-Bank Rule.

		
	3.
	NO DEFAULT

The Borrower hereby confirms that no Event of Default has occurred and is continuing or would result from the amendment set out in this Second Amendment Agreement on the date of this Second Amendment Agreement and on the Effective Date, and in each case by reference to the facts and circumstances then existing.

		
	4.
	CONTINUING ENFORCEABILITY

The Borrower and the Parent Guarantor hereby confirm that the Finance Documents shall continue and remain in full force and effect, notwithstanding any amendment, novation, supplement, extension, restatement, increase or replacement of the Facility Agreement as set out in this Second Amendment Agreement. 

		
	5.
	REPRESENTATIONS

The Borrower makes the representations and warranties as set out in this Clause on the date of this Second Amendment Agreement and on the Effective Date, and in each case by reference to the facts and circumstances then existing:

5.1    STATUS
It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation. It has the power to own its assets and carry on its business as it is being conducted.

5.2    BINDING OBLIGATIONS
Subject to applicable insolvency and other laws generally affecting the rights or remedies of creditors the obligations expressed to be assumed by it in each Finance Document to which it is a party are legal, valid, binding and enforceable obligations.

5.3    NON-CONFLICT WITH OTHER OBLIGATIONS
The entry into and performance by it of, and the transaction contemplated by, the Finance Documents to which it is a party do not and will not conflict in any material respect with (i) any law or regulation applicable to it, (ii) any constitutional documents or (iii) any agreement or instrument binding upon it or any member of the Group or any of its or any member of the Group’s assets.

5.4    POWER AND AUTHORITY
It has the power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the Finance Documents to which it is a party and the transactions contemplated by those Finance Documents to which it is a party.

5.5    VALIDITY AND ADMISSIBILITY IN EVIDENCE
All Authorisations required (i) to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party, and (ii) to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation, have been obtained or effected and are in full force and effect.

5.6    GOVERNING LAW AND ENFORCEMENT
The choice of governing law of the Finance Documents to which it is a party will be recognised and enforced in its jurisdiction of incorporation. Any judgment obtained in relation to a Finance Document to which it is a party in the jurisdiction 

	
			
	 
	3
	 

	
	
	

Exhibit 10.35

of the governing law of that Finance Document to which it is a party will be recognised and enforced in its jurisdiction of incorporation.

5.7    NO DEFAULT
No Event of Default is continuing or is reasonably likely to result from the utilisation of the Facility or the entry into, the performance of, or any transaction contemplated by, any Finance Document to which it is a party.

5.8    NO MISLEADING INFORMATION
All the information supplied to the Bank were and continue to be true and accurate in any material respect; in particular, the financial statements furnished to the Bank fairly and completely reflect the financial status of the Borrower as on the date of and for the period to which they refer and are not affected by any material change since the date these accounts were drawn up.

5.9    NO LITIGATION
No litigation, attachment, arbitration, administrative procedure, which has or might have an adverse effect on its financial condition or its ability to perform its obligations under the Finance Documents to which it is a party, or a reorganization or bankruptcy procedure, is  pending or resolved save for those disclosed upon the signing of this Second Amendment Agreement.

		
	6.
	GOVERNING LAW AND JURISDICTION

		
	(a)
	This Second Amendment Agreement and any non-contractual obligations arising out of or in connection with it are governed by the laws of Germany.

		
	(b)
	The courts of Frankfurt am Main in Germany, in first instance, have jurisdiction to settle any dispute in connection with this Second Amendment Agreement. This submission shall not limit the rights of the Bank to take proceedings in any other court which may exercise jurisdiction over the Borrower or any of its assets.

		
	(c)
	The nomination of domicile referred to in paragraph (b) does not affect any other method of service allowed by law.

	
			
	 
	4
	 

	
	
	

Exhibit 10.35

	
			
	 
	5
	 

	
	
	

Exhibit 10.35

Schedule 1

CONDITIONS PRECEDENT 
TO BE DELIVERED BEFORE 28 FEBRUARY 2019

		
	(1)
	Duly signed copy of the Second Amendment Agreement and the new Parent Guarantee in form and substance acceptable to the Bank.

		
	(2)
	All information that the Bank needs to fulfil its know your customer requirements and comply with applicable anti money-laundering legislation. 

		
	(3)
	Legal opinions: (i) external legal opinion on the executed Parent Guarantee (to be arranged by the Bank);  and (ii) capacity opinion done by ING legal in Switzerland.

		
	(4)
	A copy of the resolution of the board of directors of the Borrower and the Parent Guarantor approving the  execution of the First and Second Amendment Agreement and the new Parent Guarantee (as applicable) and the transactions contemplated therein. 

		
	(5)
	A copy of the updated resolution/letter of the shareholder(s) of the Borrower approving the amendment and the execution of the First and Second Amendment Agreement.

	
			
	 
	6
	 

	
	
	

Exhibit 10.35

SIGNATORIES

XYLEM EUROPE GMBH                    

_/s/ Tomas Brannemo______

By: Tomas Brannemo

Title: President Xylem Europe GmbH

XYLEM INC.

__/s/ Samir Patel_________

By: Samir Patel

Title: Vice Pesident & Treasurer 

ING BANK, a branch of ING-DiBa AG

__/s/ Nikola Kopp                                  __/s/ Ingo Steen               

By: Nikola Kopp                        By: Ingo Steen

Title: Director                        Title: VP

	
			
	 
	7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]