Document:

ex10_1.htm

    
      

    

    EMPLOYMENT
      AGREEMENT

    
      Viktor
        Rozsnyay

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      EMPLOYMENT
        AGREEMENT

      

      Entered
        into by and between

      
        	
                name:

              	
                Vidatech
                  Technológiai Kutató, Fejlesztő és Szolgáltató
                  Kft.

              

      

      
        	
                head
                  office:

              	
                H-1095
                  Budapest, Soroksári út 94-96.

              

      

      
        	
                company
                  registration No.:

              	
                01-09-87
                  01 07

              

      

      
        	
                tax
                  No.:

              	
                13
                  72 76 26 - 2 - 43

              

      

      
        	
                bank
                  account No.:

              	
                10
                  10 41 67 - 57 30 27 00 - 01 00 00
                  03

              

      

      
        	
                represented
                  by:

              	
                KUN
                  Dániel

              

      

      as
        employer (hereinafter: „Employer”), on the one
        hand

      and

      
        	
                name:

              	
                ROZSNYAY
                  Viktor

              

      

      
        	
                residential
                  address:

              	
                1112
                  Budapest, Kőérberki u. 1037Hrsz

              

      

      
        	
                mother’s
                  name:

              	
                SULYA
                  Magdolna

              

      

      
        	
                tax
                  ID No.:

              	
                8378951138

              

      

      
        	
                social
                  security No.:

              	
                105968249

              

      

      as
        employee (hereinafter: „Employee”), on the
        other hand,

      (referred
        to hereinafter as collectively as „Contracting
        Parties”)

      at
        the
        place and date stated below, under the following terms and
        conditions.

      

      §
        1

      JOB

      1.1.
        The
        Employer employs the Employee as President & Chief Executive
        Officer.

      1.2.
        The
        job of the Employee includes particularly the fulfilment of the following
        tasks:

      
        	
                 

              	
                ·

              	
                The
                  President & Chief Executive Officer is the leader of the work
                  organisation of the company.

              

      

      The
        detailed description of the tasks belonging to the job of the Employee is
        contained in the Job Description attached to this Agreement. The Job Description
        forms the inseparable part of this Agreement (Annex No.
        1).

      

      §
        2

      TERM
        OF THE AGREEMENT

       2.1.
        The Contracting Parties conclude the employment for an indefinite period
        of
        time.

       2.2.
        The commencement of the employment is the day of taking on work by the Employee,
        i.e.:

      
        	
              	
                ·

              	
                24
                  October 2007

              

      

      

      §
        3

      PROBATION
        PERIOD

      The
        Contracting Parties agree on a probation period of 0 day.
        During the period of probation both the Employee and the Employer may terminate
        the employment with immediate effect, without cause.

      

      §
        4

      WAGE

       4.1.
        The gross monthly personal basic wage is HUF
        131,000, say One hundred and thirty-one thousand Forints. The
        basic
        wage will be paid to the Employee until the 5th day of
        the month
        following the subject month, after the deduction of the statutory taxes and
        contributions.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      4.2.
        In
        any other issues not regulated in this Clause the provisions set forth in
        Sections 141 to 153 of the Labour Code shall be governing, on the basis of
        Section 76 (7) (b) and Section 76/B (1) of Act XXII of 1992 on the Labour
        Code.

      

      §
        5

      PLACE
        OF THE PERFORMANCE OF WORK

      The
        Employee shall perform the work primarily at the head office of the Employer.
        The Employee agrees that, according to the characteristics of his job, he
        shall
        also perform work at places other than the head office of the
        Employer.

      

      §
        6

      WORKING
        TIME

      The
        weekly working time is 40 hours.

      Section
        192 of the Labour Code (1) The scheduling of the
        working time, as well as the utilisation of the time of rest (paid leave)
        shall
        be determined by the manager.

      (2)
        The leader is not entitled to consideration for his work
        performed in extraordinary working time (overtime) (Sections 147 to
        149).

      

      §
        7

      ORDINARY
        PAID LEAVE

      The
        Employee is entitled to annual paid leave according to the Labour Code. In
        any
        other issues not regulated in this Clause the provisions set forth in Sections
        130 to 136 of the Labour Code shall be governing, according to Section 76
        (7)
        (e) and Section 76/B (1) of the Labour Code.

      

      §
        8

      TERMINATION

      8.1.
        The
        right of termination by extraordinary notice against the manager may be
        exercised according to the contents of Section 96 (4), but no later than
        within
        three years reckoned from the occurrence of the reason serving as basis thereof,
        in case of committing a criminal act until the statutory limitation of
        punishability.

      8.2.
        If the employment of the manager is terminated by the Employer
        in the course of bankruptcy or liquidation proceeding, the rules of the
        remuneration due in case of termination of the employment shall apply, with
        the
        difference that the Employer shall pay in advance no more than the average
        wage
        of six months. The remuneration due to the manager above this amount will
        be
        payable upon the termination of the bankruptcy or liquidation proceeding,
        or
        after the approval of the liquidation closing balance sheet or the simplified
        closing balance sheet.

      

      §
        9

      EXERCISE
        OF EMPLOYER’S RIGHTS

      The
        employer’s rights shall be exercised by the Board of Directors of the Owner /
        Power of the Dream Ventures Inc.

      

      §
        10

      CONFIDENTIALITY

      The
        Employee shall keep the business secrets becoming known to him during the
        term
        of or in connection with the employment without limitation in time. All
        facts, data, information or solutions related to the economic activity of
        the
        Employer shall qualify as business secret, the confidentiality of which is
        in
        the economic or other interests to be appreciated of the Employer. The
        Employee acknowledges that the violation of his aforementioned obligation
        may
        serve as basis for his civil law or penal law responsibility, over and above
        the
        labour law consequences thereof.

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      §
        11

      COLLECTIVE
        BARGAINING AGREEMENT

      The
        Employer declares that it is not subject to collective bargaining
        agreement.

      

      §
        12

      APPLICABLE
        LAW

      In
        the
        issues not regulated in this Agreement the provisions of the Labour Code,
        as
        well as of other Hungarian legal rules in force from time to time shall be
        governing.

      

      §
        13

      INVALID
        PROVISIONS

      If
        any
        provision of this Employment Agreement is or becomes invalid, this shall
        not
        affect the validity of the other provisions, save for the case, if the
        Contracting Parties had not entered into the Employment Agreement without
        such
        invalid provision. In the event of partial invalidity the statutory provisions
        relating to employment shall be applicable mutatis
        mutandis.

      

      §
        14

      AMENDMENT
        TO THE EMPLOYMENT AGREEMENT

      The
        amendment to this Employment Agreement is only valid in writing. Oral agreements
        are invalid.

      

      §
        15

      GENERAL
        PROVISIONS

      

      15.1.
        This Employment Agreement was prepared in _ counterparts. The Annexes to
        the
        Employment Agreement form the inseparable part of the Agreement.

      

      15.2.
        This Employment Agreement was prepared in the Hungarian language. Hungarian
        is
        the governing language of the Employment Agreement.

       

      Budapest,
        24 October 2007

      

      
        	
                /s/
                  Daniel Kun, Jr.

              	
                /s/
                  Viktor Rozsnyay

              
	
                Employer

              	
                Employee

              
	
                Power
                  of the Dream Ventures Inc.

              	 
	
                Vice
                  President & Secretary

              	 

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Annex
        No. 1 to the Employment Agreement

       

      
 

      JOB
        DESCRIPTION

       

       

      President
        & Chief Executive Officer

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      Job
        Description

       

      Name:

      
        	
                 

              	
                ·

              	
                ROZSNYAY
                  Viktor

              

      

      

      Job:

      
        	
                 

              	
                ·

              	
                President
                  & Chief Executive Officer

              

      

      

      The
        employer’s rights are exercised by:

      
        	
                 

              	
                ·

              	
                Board
                  of Directors of the Owner / Power of the Dream
                  Ventures

              

      

      

      Directly
        co-ordinated jobs:

      
        	
                 

              	
                ·

              	
                Vice
                  President & Secretary

              

      

      

      Directly
        subordinated jobs:

      
        	
                 

              	
                ·

              	
                Technology
                  Manager

              

      

      
        	
                 

              	
                ·

              	
                Finance
                  Manager

              

      

      
        	
                 

              	
                ·

              	
                Chief
                  Accountant

              

      

      
        	
                 

              	
                ·

              	
                Legal
                  Manager

              

      

      

      The
        President & Chief Executive Officer is the leader of the work organisation
        of the company.

      

      He
        is
        considered to be a senior officer and the provisions, relating to senior
        officers, of the Companies Act apply to him. He controls the work of the
        work
        organisation in the framework of the division of work.

      

      His
        scope of activities:

      
        	
                 

              	
                ·

              	
                Fulfil,
                  cause to fulfil and control the fulfilment of the tasks defined
                  in the
                  legal rules related to the management of the Company, in its internal
                  regulations and instructions.

              

      

      
        	
                 

              	
                ·

              	
                Develop
                  the most suitable organisation for the fulfilment of the tasks
                  of the
                  Company, determine the operational order of the organisational
                  units and
                  processes.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  the objectives relating to the development of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Take
                  care for the preparation of the annual business plan of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  the measures relating to the increase of profitability and efficiency,
                  control and evaluate the execution of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Utilise
                  and increase efficiently the financial and intellectual resources
                  of the
                  Company, ensure profitable and lucrative
                  operations.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  in due time the materials necessary for the discussion of the matters
                  belonging to the competence of the general meeting, the Supervisory
                  Board
                  and the Board of Directors of the owner PDV, as well as the materials
                  necessary for adopting resolutions (and present them, if committed
                  therewith by the Board of
                  Directors).

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  and issue the measures relating to the fulfilment of the Company’s tasks,
                  control and evaluate the execution of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Create
                  and improve steadily the conditions of efficient performance of
                  work.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  measures relating to the increase and proper management of the
                  assets
                  assigned to his management, control and evaluate the execution
                  of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Control
                  the development of the quality assurance system of the Company,
                  supervise
                  its operations.

              

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                ·

              	
                Develop
                  the incentive system of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Set
                  objectives and guidelines in the framework of the general business
                  policy
                  defined by the Company.

              

      

      
        	
                 

              	
                ·

              	
                Represent
                  the Company towards other organisations and before the
                  public.

              

      

      
        	
                 

              	
                ·

              	
                Coordinate
                  the work of the managers subordinated to
                  him.

              

      

      
        	
                 

              	
                ·

              	
                Inform
                  the Company management on the realisation of the objectives of
                  the Company
                  and on the important events, as well as inquire steadily in the
                  work of
                  the units of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Discuss
                  for the Company management the annual and medium-term business
                  plan of the
                  Company and submit it for the purpose of
                  decision-making.

              

      

      
        	
                 

              	
                ·

              	
                Observe
                  and cause to observe the rights of the employees and the
                  legality.

              

      

      
        	
                 

              	
                ·

              	
                Ensure
                  working discipline.

              

      

      
        	
                 

              	
                ·

              	
                Provide
                  safe work conditions protecting the health of
                  employees.

              

      

      

      His
        competence:

      
        	
                 

              	
                ·

              	
                Decide
                  independently in the issues belonging to the competence of
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Exercise
                  the Employer’s rights towards the employees of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on the internal organisational
                  changes.

              

      

      
        	
                 

              	
                ·

              	
                Evaluate
                  the activities of the managers.

              

      

      
        	
                 

              	
                ·

              	
                Take
                  a position in the matter of submissions and reports to be forwarded
                  to the
                  superior organs.

              

      

      
        	
                 

              	
                ·

              	
                Initiate
                  and institute proceedings against employees committing economical
                  offences
                  or crimes.

              

      

      
        	
                 

              	
                ·

              	
                Inform
                  the media.

              

      

      
        	
                 

              	
                ·

              	
                Execute
                  and cause to execute the decisions of the
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Provide
                  professionally for the tasks belonging to his responsibilities
                  and
                  competence.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the incentive system of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the job descriptions (which he reserved for
                  himself).

              

      

      
        	
                 

              	
                ·

              	
                Grant
                  and withdraw the right of
                  remittance.

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on professional trainings (which he did not
                  delegate).

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on the matter of raising credits (which he did not
                  delegate).

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the regulations of fire protection, labour safety and environmental
                  protection system of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  proposals and programmes for capital
                  expenditures.

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on the advertisement and promotional work of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on the formation and development of the information and data processing
                  system of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the regulation of the quality policy and quality assurance system
                  of the
                  Company.

              

      

      

      

      His
        responsibilities:

      
        	
                 

              	
                ·

              	
                The
                  President & Chief
                  Executive Officer is responsible for performing his work according
                  to the
                  legal rules, as best he can.

              

      

      

      
        	
                 

              	
                ·

              	
                The
                  President & Chief
                  Executive Officer shall proceed with the care generally expectable
                  from a
                  person filling such an office; he is liable for the damages caused
                  to the
                  Company by violating his obligations according to the general rules
                  of the
                  civil law (Civil Code) and labour law (Labour
                  Code).

              

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                ·

              	
                The
                  President
                  & Chief Executive Officer shall keep his information obtained
                  about the matters of the Company as business
                  secret.

              

      

      

      He
        is responsible furthermore for the following:

      
        	
                 

              	
                ·

              	
                Execution
                  and causing to execute professionally the decisions of the
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Professional
                  performance of the tasks belonging to his responsibilities and
                  competence.

              

      

      
        	
                 

              	
                ·

              	
                Efficient
                  and economical operations of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Observation
                  of the legal rules and provisions relating to the operations of
                  the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Making
                  decisions promoting the development and the economic and efficient
                  operations of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Fulfilment
                  of the programmes elaborated for the sake of the development and
                  profitable operations of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Operation
                  of the Company according to the legal
                  requirements.

              

      

      
        	
                 

              	
                ·

              	
                Realisation
                  of the objectives promoting the profitability of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Causing
                  the quality policy and quality assurance system to be understood
                  by the
                  employees and the enforcement
                  thereof.

              

      

      
        	
                 

              	
                ·

              	
                Protection
                  and increase of the assets of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Execution
                  of the necessary labour safety, fire protection, environmental
                  protection
                  and security tasks.

              

      

      
        	
                 

              	
                ·

              	
                Observation
                  of the rights of the employees and of
                  lawfulness.

              

      

      

      He
        maintains working relations with:

      
        	
                 

              	
                ·

              	
                the
                  management of the Company

              

      

      
        	
                 

              	
                ·

              	
                the
                  members of the owners,

              

      

      
        	
                 

              	
                ·

              	
                the
                  auditor,

              

      

      
        	
                 

              	
                ·

              	
                authorities,
                  financial institutions, state administration
                  organs,

              

      

      
        	
                 

              	
                ·

              	
                business
                  partners,

              

      

      
        	
                 

              	
                ·

              	
                the
                  leaders of the organisational units controlled by him and the employees
                  subordinated directly to him.

              

      

      

      Substitution:

      
        	
                 

              	
                ·

              	
                in
                  the event of the absence or incapacitation of the President & Chief Executive
                  Officer he shall be deputized for in the management of the work
                  organisation by a:

              

      

      
        	
                 

              	
                o

              	
                co-Managing
                  Director

              

      

      
        	
                 

              	
                o

              	
                agent
                  commissioned on a case-to-case
                  basis

              

      

      

      Legal
        rules and prescriptions:

      
        	
                 

              	
                ·

              	
                Companies
                  Act.

              

      

      
        	
                 

              	
                ·

              	
                Tax
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Financial
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Accounting
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Labour
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Organisational
                  and operational regulations.

              

      

      
        	
                 

              	
                ·

              	
                Prescriptions
                  of the quality assurance system.

              

      

      
        	
                 

              	
                ·

              	
                Other
                  internal regulations and
                  prescriptions.

              

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      Requirements
        of filling the position:

      
        	
                 

              	
                ·

              	
                certificate
                  of clean criminal record,

              

      

      
        	
                 

              	
                ·

              	
                driving
                  licence category “B”.

              

      

      

      Date
        of
        entry into force: 24 October 2007

      

      

      Budapest,
        24 October 2007

       

      

      
        	
                Acknowledged
                  by:

              	
                Approved
                  by: 

              
	 	 
	 	 
	 	 
	
                /s/
                  Viktor Rozsnyay

              	
                /s/
                  Daniel Kun, Jr.

              
	
                Employee

              	
                Power
                  of the Dream Ventures Inc.

              
	 	
                Vice
                  President & Secretary

              

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      Annex
        No. 2 to the Employment Agreement

       

       

      INFORMATION
        ON THE CONDITIONS LISTED IN SECTION 76 (7) OF THE LABOUR
        CODE

      

      

      The
        employment comes into existence by the employment agreement set out in written
        form. The parties may agree on any issue in the employment agreement; the
        condition of the validity of their agreement is that the employment agreement
        may not be contrary to any legal rule or the collective bargaining agreement,
        unless it states a condition more favourable for the employee.

      

      In
        the
        employment agreement the parties shall agree on the personal basic wage,
        job and
        place of work of the employee. Simultaneously with the conclusion of the
        employment agreement the employer shall inform the employee on the
        following:

      

      
        	
                 

              	
                a)

              	
                guiding
                  schedule of work,

              

      

      
        	
                 

              	
                b)

              	
                other
                  elements of the wage,

              

      

      
        	
                 

              	
                c)

              	
                day
                  of wage payment,

              

      

      
        	
                 

              	
                d)

              	
                day
                  of taking on work,

              

      

      
        	
                 

              	
                e)

              	
                method
                  of calculation of the period and delivery of ordinary paid leave,
                  and

              

      

      
        	
                 

              	
                f)

              	
                the
                  rules of determining the notice period governing for employer and
                  employee, as well as

              

      

      
        	
                 

              	
                g)

              	
                whether
                  the employer is subject to a collective bargaining
                  agreement.

              

      

      

      

      Remark
        to
§ 2:

      The
        employment comes into existence for an indefinite period of
        time– unless agreed on to the contrary. The period of an employment for a
        definite term shall be determined by calendar or in another suitable way.
        If the
        parties do not determine the period of the employment by calendar, the employer
        shall inform the employee on the expectable period of the
        employment.

      The
        employment of definite term shall be transformed into one of indefinite term
        if
        the employee continues to work after the expiry of the term at least for
        one
        working day with the knowledge of his direct superior.

      

      

      Remark
        to
§ 7:

      The
        rate of the basic paid leave is twenty working
        days.

      
        	
              	
                1.)

              	
                The
                  rate of the ordinary paid leave due to the Employee and
                  the rules of its delivery are contained in Sections 130 to 136
                  of the
                  Labour Code.

              

      

      
        	
                 

              	
                Basic
                  paid leave

              	
                20
                  working days

              

      

      
        	
                 

              	
                in
                  the age of 25

              	
                +
                  1
                  working day 21 working days

              

      

      
        	
                 

              	
                in
                  the age of 28

              	
                +
                  1
                  working day 22 working days

              

      

      
        	
                 

              	
                in
                  the age of 31

              	
                +
                  1
                  working day 23 working days

              

      

      
        	
                 

              	
                in
                  the age of 33

              	
                +
                  1
                  working day 24 working days

              

      

      
        	
                 

              	
                in
                  the age of 35

              	
                +
                  1
                  working day 25 working days

              

      

      
        	
                 

              	
                in
                  the age of 37

              	
                +
                  1
                  working day 26 working days

              

      

      
        	
                 

              	
                in
                  the age of 39

              	
                +
                  1
                  working day 27 working days

              

      

      
        	
                 

              	
                in
                  the age of 41

              	
                +
                  1
                  working day 28 working days

              

      

      
        	
                 

              	
                in
                  the age of 43

              	
                +
                  1
                  working day 29 working days

              

      

      
        	
                 

              	
                in
                  the age of 45

              	
                +
                  1
                  working day 30 working days

              

      

      The
        Employee is entitled to the longer paid leave for the first time in the
        year, in which he reaches the higher age.

      

      Supplementary
        leave due to the Employee:

      
        	
                 

              	
                o

              	
                supplementary
                  leave due to juveniles: 5 working days before reaching the age
                  of 18 and
                  in the year of completing 18 years of
                  age

              

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                o

              	
                On
                  the basis of the decision of the parents for the parent undertaking
                  a
                  bigger role in the bringing-up of his/her child or for the parent
                  bringing
                  up his/her child alone, on his/her child(ren) under the age of
                  16:

              

      

      
        	
                 

              	
                §

              	
                for
                  one child: two,

              

      

      
        	
                 

              	
                §

              	
                for
                  two children: four,

              

      

      
        	
                 

              	
                §

              	
                for
                  more than two children altogether seven working days per year are
                  due, for
                  the last time in the year in which the child(ren) complete(s) its
                  (their)
                  16th
                  year
                  of age.

              

      

      

      The
        date
        of delivering the paid leave will be determined by the
Employer, after hearing the
Employee.

      

      The
        Employer is obliged to deliver one quarter of the basic paid
        leave – save for the first three months of the employment – at the date
        according to the request of the Employee.

      The
        Employee shall announce his relevant claim no later than
        fifteen days before the commencement of the leave.

      

      The
        paid
        leave shall be delivered in the year of its due date, exceptions are the
        illness
        of the Employee or a particularly important economic
        interest.

      The
        leave
        may be delivered in more than two instalments only at the request of the
        Employee.

      

      

      Remarks
        to § 8:

      The
        employment may be terminated:

      
        	
                 

              	
                a)

              	
                with
                  the common consent of Employer and
                  Employee;

              

      

      
        	
                 

              	
                b)

              	
                by
                  ordinary notice;

              

      

      
        	
                 

              	
                c)

              	
                by
                  extraordinary notice;

              

      

      
        	
                 

              	
                d)

              	
                with
                  immediate effect during the probation
                  period.

              

      

      

      The
        agreement or declarations directed to the termination of the employment shall
        be
        reduced to writing, no deviation therefrom shall be valid.

      The
        Employer shall reason its notice of termination; the cause of the termination
        shall clearly transpire from the reasoning. In case of a dispute the Employer
        shall prove the reality and reasonableness of the cause of termination. The
        cause of termination may only be a cause related to the capabilities of the
        Employee, to his conduct related to the employment or to the operation of
        the
        Employer.

      

       

      Notice
        period

       

      In
        case
        of ordinary notice of the Employer or the
Employee the extent of the notice period shall
        be:

      
        	
                 

              	
                o

              	
                at
                  least thirty days.

              

      

       

      The
        thirty-day notice period will be extended

      
        	
                 

              	
                o

              	
                by
                  five days after three years

              

      

      
        	
                 

              	
                o

              	
                by
                  fifteen days after five years

              

      

      
        	
                 

              	
                o

              	
                by
                  twenty years after eight years

              

      

      
        	
                 

              	
                o

              	
                by
                  twenty-five days after ten years

              

      

      
        	
                 

              	
                o

              	
                by
                  thirty days after fifteen years

              

      

      
        	
                 

              	
                o

              	
                by
                  forty days after eighteen years

              

      

      
        	
                 

              	
                o

              	
                by
                  sixty days after twenty years

              

      

      spent
        in
        employment with the Employer.

      

      The
        Employer shall exempt the Employee from the
        performance of work for half of the notice period at the date and  in
        the instalments according to the request of the Employee. The
Employee is entitled to his average earnings
        for the period of
        exemption.

    

     

     

    11ex10_2.htm

    
      

    

    
      EMPLOYMENT
        AGREEMENT

      Daniel
        Kun, Jr.

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      EMPLOYMENT
        AGREEMENT

       

      Entered
        into by and between

      
        	
                name:

              	
                Vidatech
                  Technológiai Kutató, Fejlesztő és Szolgáltató
                  Kft.

              

      

      
        	
                head
                  office:

              	
                H-1095
                  Budapest, Soroksári út 94-96.

              

      

      
        	
                company
                  registration No.:

              	
                01-09-87
                  01 07

              

      

      
        	
                tax
                  No.:

              	
                13
                  72 76 26 - 2 - 43

              

      

      
        	
                bank
                  account No.:

              	
                10
                  10 41 67 - 57 30 27 00 - 01 00 00
                  03

              

      

      
        	
                represented
                  by:

              	
                KUN
                  Dániel

              

      

      as
        employer (hereinafter: „Employer”), on the one
        hand 

      and

      
        	
                name:

              	
                KUN
                  Daniel, Jr.

              

      

      
        	
                residential
                  address:

              	
                1039
                  Budapest, Perenyi ut 16/B

              

      

      
        	
                mother’s
                  name:

              	
                GUBICZA
                  Marta

              

      

      
        	
                tax
                  ID No.:

              	
                8389920980

              

      

      
        	
                social
                  security No.:

              	
                031725121

              

      

      as
        employee (hereinafter: „Employee”), on the
        other hand,

      (referred
        to hereinafter as collectively as „Contracting
        Parties”)

      at
        the
        place and date stated below, under the following terms and
        conditions.

      

      §
        1

      JOB

      1.1.
        The
        Employer employs the Employee as Vice President and Secretary.

      1.2.
        The
        job of the Employee includes particularly the fulfilment of the following
        tasks:

      
        	
                 

              	
                ·

              	
                The
                  Vice Presindent and Secretary is responsible for overseeing the
                  day to day
                  operations of the company.

              

      

      The
        detailed description of the tasks belonging to the job of the Employee is
        contained in the Job Description attached to this Agreement. The Job Description
        forms the inseparable part of this Agreement (Annex No.
        1).

      

      §
        2

      TERM
        OF THE AGREEMENT

       2.1.
        The Contracting Parties conclude the employment for an indefinite period
        of
        time.

       2.2.
        The commencement of the employment is the day of taking on work by the Employee,
        i.e.:

      
        	
              	
                ·

              	
                24
                  October 2007

              

      

      

      §
        3

      PROBATION
        PERIOD

      The
        Contracting Parties agree on a probation period of 0 day.
        During the period of probation both the Employee and the Employer may terminate
        the employment with immediate effect, without cause.

      

      §
        4

      WAGE

       4.1.
        The gross monthly personal basic wage is HUF
        131,000, say One hundred and thirty-one thousand Forints. The
        basic
        wage will be paid to the Employee until the 5th day of
        the month
        following the subject month, after the deduction of the statutory taxes and
        contributions.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      4.2.
        In
        any other issues not regulated in this Clause the provisions set forth in
        Sections 141 to 153 of the Labour Code shall be governing, on the basis of
        Section 76 (7) (b) and Section 76/B (1) of Act XXII of 1992 on the Labour
        Code.

      

      §
        5

      PLACE
        OF THE PERFORMANCE OF WORK

      The
        Employee shall perform the work primarily at the head office of the Employer.
        The Employee agrees that, according to the characteristics of his job, he
        shall
        also perform work at places other than the head office of the
        Employer.

      

      §
        6

      WORKING
        TIME

      The
        weekly working time is 40 hours.

      Section
        192 of the Labour Code (1) The scheduling of the
        working time, as well as the utilisation of the time of rest (paid leave)
        shall
        be determined by the manager.

      (2)
        The leader is not entitled to consideration for his work
        performed in extraordinary working time (overtime) (Sections 147 to
        149).

      

      §
        7

      ORDINARY
        PAID LEAVE

      The
        Employee is entitled to annual paid leave according to the Labour Code. In
        any
        other issues not regulated in this Clause the provisions set forth in Sections
        130 to 136 of the Labour Code shall be governing, according to Section 76
        (7)
        (e) and Section 76/B (1) of the Labour Code.

      

      §
        8

      TERMINATION

      8.1.
        The
        right of termination by extraordinary notice against the manager may be
        exercised according to the contents of Section 96 (4), but no later than
        within
        three years reckoned from the occurrence of the reason serving as basis thereof,
        in case of committing a criminal act until the statutory limitation of
        punishability.

      8.2.
        If the employment of the manager is terminated by the Employer
        in the course of bankruptcy or liquidation proceeding, the rules of the
        remuneration due in case of termination of the employment shall apply, with
        the
        difference that the Employer shall pay in advance no more than the average
        wage
        of six months. The remuneration due to the manager above this amount will
        be
        payable upon the termination of the bankruptcy or liquidation proceeding,
        or
        after the approval of the liquidation closing balance sheet or the simplified
        closing balance sheet.

      

      §
        9

      EXERCISE
        OF EMPLOYER’S RIGHTS

      The
        employer’s rights shall be exercised by the Board of Directors of the Owner /
        Power of the Dream Ventures Inc.

      

      §
        10

      CONFIDENTIALITY

      The
        Employee shall keep the business secrets becoming known to him during the
        term
        of or in connection with the employment without limitation in time. All
        facts, data, information or solutions related to the economic activity of
        the
        Employer shall qualify as business secret, the confidentiality of which is
        in
        the economic or other interests to be appreciated of the Employer. The
        Employee acknowledges that the violation of his aforementioned obligation
        may
        serve as basis for his civil law or penal law responsibility, over and above
        the
        labour law consequences thereof.

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      §
        11

      COLLECTIVE
        BARGAINING AGREEMENT

      The
        Employer declares that it is not subject to collective bargaining
        agreement.

      

      §
        12

      APPLICABLE
        LAW

      In
        the
        issues not regulated in this Agreement the provisions of the Labour Code,
        as
        well as of other Hungarian legal rules in force from time to time shall be
        governing.

      

      §
        13

      INVALID
        PROVISIONS

      If
        any
        provision of this Employment Agreement is or becomes invalid, this shall
        not
        affect the validity of the other provisions, save for the case, if the
        Contracting Parties had not entered into the Employment Agreement without
        such
        invalid provision. In the event of partial invalidity the statutory provisions
        relating to employment shall be applicable mutatis
        mutandis.

      

      §
        14

      AMENDMENT
        TO THE EMPLOYMENT AGREEMENT

      The
        amendment to this Employment Agreement is only valid in writing. Oral agreements
        are invalid.

      

      §
        15

      GENERAL
        PROVISIONS

      

      15.1.
        This Employment Agreement was prepared in _ counterparts. The Annexes to
        the
        Employment Agreement form the inseparable part of the Agreement.

      

      15.2.
        This Employment Agreement was prepared in the Hungarian language. Hungarian
        is
        the governing language of the Employment Agreement.

      

      

      Budapest,
        24 October 2007

       

      
        	
                /s/
                  Viktor Rozsnyay

              	
                /s/
                  Daniel Kun, Jr.

              
	
                Employer

              	
                Employee

              
	
                Power
                  of the Dream Ventures Inc.

              	 
	
                President
                  & CEO

              	 

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Annex
        No. 1 to the Employment Agreement

      

       

      JOB
        DESCRIPTION

       

       

      Vice
        President and Secretary

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      Job
        Description

      

      Name:

      
        	
                 

              	
                ·

              	
                KUN
                  Daniel, Jr.

              

      

      

      Job:

      
        	
                 

              	
                ·

              	
                Vice
                  President and Secretary

              

      

      

      The
        employer’s rights are exercised by:

      
        	
                 

              	
                ·

              	
                Board
                  of Directors of the Owner / Power of the Dream
                  Ventures

              

      

      

      Directly
        co-ordinated jobs:

      
        	
                 

              	
                ·

              	
                Chief
                  Technology Officer

              

      

      

      Directly
        subordinated jobs:

      
        	
                 

              	
                ·

              	
                Technology
                  Manager

              

      

      
        	
                 

              	
                ·

              	
                Technology
                  assistants

              

      

      
        	
                 

              	
                ·

              	
                Chief
                  Accountant

              

      

      
        	
                 

              	
                ·

              	
                Legal
                  Manager

              

      

      

      The
        Vice
        President and Secretary oversees day to day operations of the
        company.

      

      He
        is
        considered to be a senior officer and the provisions, relating to senior
        officers, of the Companies Act apply to him. He controls the work of the
        work
        organisation in the framework of the division of work.

      

      His
        scope of activities:

      
        	
                 

              	
                ·

              	
                Fulfil,
                  cause to fulfil and control the fulfilment of the tasks defined
                  in the
                  legal rules related to the management of the Company, in its internal
                  regulations and instructions.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  develop the most suitable organisation for the fulfilment of the
                  tasks of
                  the Company, help determine the operational order of the organisational
                  units and processes.

              

      

      
        	
                 

              	
                ·

              	
                Take
                  care for the preparation of the annual business plan of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  the measures relating to the increase of profitability and efficiency,
                  control and evaluate the execution of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  elaborate in due time the materials necessary for the discussion
                  of the
                  matters belonging to the competence of the general meeting, the
                  Supervisory Board and the Board of Directors of the owner PDV,
                  as well as
                  the materials necessary for adopting resolutions (and present them,
                  if
                  committed therewith by the Board of
                  Directors).

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  and issue the measures relating to the fulfilment of the Company’s tasks,
                  control and evaluate the execution of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Create
                  and improve steadily the conditions of efficient performance of
                  work.

              

      

      
        	
                 

              	
                ·

              	
                Elaborate
                  measures relating to the increase and proper management of the
                  assets
                  assigned to his management, control and evaluate the execution
                  of the
                  measures.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  develop the incentive system of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Set
                  objectives and guidelines in the framework of the general business
                  policy
                  defined by the Company.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  represent the Company towards other organisations and before the
                  public.

              

      

      
        	
                 

              	
                ·

              	
                Coordinate
                  the work of the managers subordinated to
                  him.

              

      

      
        	
                 

              	
                ·

              	
                Inform
                  the Company management on the realisation of the objectives of
                  the Company
                  and on the important events, as well as inquire steadily in the
                  work of
                  the units of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Observe
                  and cause to observe the rights of the employees and the
                  legality.

              

      

      
        	
                 

              	
                ·

              	
                Ensure
                  working discipline.

              

      

      
        	
                 

              	
                ·

              	
                Provide
                  safe work conditions protecting the health of
                  employees.

              

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      His
        competence:

      
        	
                 

              	
                ·

              	
                Decide
                  independently in the issues belonging to the competence of
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Exercise
                  the Employer’s rights towards the employees of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  decide on the internal organisational
                  changes.

              

      

      
        	
                 

              	
                ·

              	
                Take
                  a position in the matter of submissions and reports to be forwarded
                  to the
                  superior organs.

              

      

      
        	
                 

              	
                ·

              	
                Initiate
                  and institute proceedings against employees committing economical
                  offences
                  or crimes.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  inform the media.

              

      

      
        	
                 

              	
                ·

              	
                Execute
                  and cause to execute the decisions of the
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Provide
                  professionally for the tasks belonging to his responsibilities
                  and
                  competence.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the job descriptions.

              

      

      
        	
                 

              	
                ·

              	
                Decide
                  on professional training.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the regulations of fire protection, labour safety and environmental
                  protection system of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Help
                  decide on the formation and development of the information and
                  data
                  processing system of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Approve
                  the regulation of the quality policy and quality assurance system
                  of the
                  Company.

              

      

      

      His
        responsibilities:

      
        	
                 

              	
                ·

              	
                The
                  Vice President
                  is
                  responsible for performing his work according to the legal rules,
                  as best
                  he can.

              

      

      
        	
                 

              	
                ·

              	
                The
                  Vice President
                  shall
                  proceed with the care generally expectable from a person filling
                  such an
                  office; he is liable for the damages caused to the Company by violating
                  his obligations according to the general rules of the civil law
                  (Civil
                  Code) and labour law (Labour
                  Code).

              

      

      
        	
                 

              	
                ·

              	
                The
                  Vice President shall keep his information obtained about the matters
                  of
                  the Company as business secret.

              

      

      

      He
        is responsible furthermore for the following:

      
        	
                 

              	
                ·

              	
                Execution
                  and causing to execute professionally the decisions of the
                  management.

              

      

      
        	
                 

              	
                ·

              	
                Professional
                  performance of the tasks belonging to his responsibilities and
                  competence.

              

      

      
        	
                 

              	
                ·

              	
                Efficient
                  and economical operations of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Observation
                  of the legal rules and provisions relating to the operations of
                  the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Making
                  decisions promoting the development and the economic and efficient
                  operations of the Company.

              

      

      
        	
                 

              	
                ·

              	
                Fulfilment
                  of the programmes elaborated for the sake of the development and
                  profitable operations of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Operation
                  of the Company according to the legal
                  requirements.

              

      

      
        	
                 

              	
                ·

              	
                Realisation
                  of the objectives promoting the profitability of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Causing
                  the quality policy and quality assurance system to be understood
                  by the
                  employees and the enforcement
                  thereof.

              

      

      
        	
                 

              	
                ·

              	
                Protection
                  and increase of the assets of the
                  Company.

              

      

      
        	
                 

              	
                ·

              	
                Execution
                  of the necessary labour safety, fire protection, environmental
                  protection
                  and security tasks.

              

      

      
        	
                 

              	
                ·

              	
                Observation
                  of the rights of the employees and of
                  lawfulness.

              

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      He
        maintains working relations with:

      
        	
                 

              	
                ·

              	
                the
                  management of the Company

              

      

      
        	
                 

              	
                ·

              	
                the
                  members of the owners,

              

      

      
        	
                 

              	
                ·

              	
                the
                  auditor,

              

      

      
        	
                 

              	
                ·

              	
                authorities,
                  financial institutions, state administration
                  organs,

              

      

      
        	
                 

              	
                ·

              	
                business
                  partners,

              

      

      
        	
                 

              	
                ·

              	
                the
                  leaders of the organisational units controlled by him and the employees
                  subordinated directly to him.

              

      

      

      Substitution:

      
        	
                 

              	
                ·

              	
                in
                  the event of the absence or incapacitation of the Vice President
                  he shall be
                  deputized for in the management of the work organisation by
                  a:

              

      

      
        	
                 

              	
                o

              	
                co-Managing
                  Director

              

      

      
        	
                 

              	
                o

              	
                agent
                  commissioned on a case-to-case
                  basis

              

      

      

      Legal
        rules and prescriptions:

      
        	
                 

              	
                ·

              	
                Companies
                  Act.

              

      

      
        	
                 

              	
                ·

              	
                Tax
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Financial
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Accounting
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Labour
                  rules.

              

      

      
        	
                 

              	
                ·

              	
                Organisational
                  and operational regulations.

              

      

      
        	
                 

              	
                ·

              	
                Prescriptions
                  of the quality assurance system.

              

      

      
        	
                 

              	
                ·

              	
                Other
                  internal regulations and
                  prescriptions.

              

      

      

      Requirements
        of filling the position:

      
        	
                 

              	
                ·

              	
                certificate
                  of clean criminal record,

              

      

      
        	
                 

              	
                ·

              	
                driving
                  licence category “B”.

              

      

      

      Date
        of
        entry into force: 24 October 2007

       

      Budapest,
        24 October 2007

       

      
        	
                Acknowledged
                  by:

              	
                Approved
                  by:

              
	 	 
	 	 
	
                /s/
                  Daniel Kun, Jr.

              	
                /s/
                  Viktor Rozsnyay

              
	
                Vice
                  President & Secretary

              	
                Power
                  of the Dream Ventures Inc.

              
	 	
                President
                  & CEO

              

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      Annex
        No. 2 to the Employment Agreement

       

      INFORMATION
        ON THE CONDITIONS LISTED IN SECTION 76 (7) OF THE LABOUR
        CODE

      

      The
        employment comes into existence by the employment agreement set out in written
        form. The parties may agree on any issue in the employment agreement; the
        condition of the validity of their agreement is that the employment agreement
        may not be contrary to any legal rule or the collective bargaining agreement,
        unless it states a condition more favourable for the employee.

      

      In
        the
        employment agreement the parties shall agree on the personal basic wage,
        job and
        place of work of the employee. Simultaneously with the conclusion of the
        employment agreement the employer shall inform the employee on the
        following:

      

      
        	
                 

              	
                a)

              	
                guiding
                  schedule of work,

              

      

      
        	
                 

              	
                b)

              	
                other
                  elements of the wage,

              

      

      
        	
                 

              	
                c)

              	
                day
                  of wage payment,

              

      

      
        	
                 

              	
                d)

              	
                day
                  of taking on work,

              

      

      
        	
                 

              	
                e)

              	
                method
                  of calculation of the period and delivery of ordinary paid leave,
                  and

              

      

      
        	
                 

              	
                f)

              	
                the
                  rules of determining the notice period governing for employer and
                  employee, as well as

              

      

      
        	
                 

              	
                g)

              	
                whether
                  the employer is subject to a collective bargaining
                  agreement.

              

      

      

      

      Remark
        to
§ 2:

      The
        employment comes into existence for an indefinite period of
        time– unless agreed on to the contrary. The period of an employment for a
        definite term shall be determined by calendar or in another suitable way.
        If the
        parties do not determine the period of the employment by calendar, the employer
        shall inform the employee on the expectable period of the
        employment.

      The
        employment of definite term shall be transformed into one of indefinite term
        if
        the employee continues to work after the expiry of the term at least for
        one
        working day with the knowledge of his direct superior.

      

      

      Remark
        to
§ 7:

      The
        rate of the basic paid leave is twenty working
        days.

      
        	
              	
                1.)

              	
                The
                  rate of the ordinary paid leave due to the Employee and
                  the rules of its delivery are contained in Sections 130 to 136
                  of the
                  Labour Code.

              

      

      
        	
                 

              	
                Basic
                  paid leave

              	
                20
                  working days

              

      

      
        	
                 

              	
                in
                  the age of 25

              	
                +
                  1
                  working day 21 working days

              

      

      
        	
                 

              	
                in
                  the age of 28

              	
                +
                  1
                  working day 22 working days

              

      

      
        	
                 

              	
                in
                  the age of 31

              	
                +
                  1
                  working day 23 working days

              

      

      
        	
                 

              	
                in
                  the age of 33

              	
                +
                  1
                  working day 24 working days

              

      

      
        	
                 

              	
                in
                  the age of 35

              	
                +
                  1
                  working day 25 working days

              

      

      
        	
                 

              	
                in
                  the age of 37

              	
                +
                  1
                  working day 26 working days

              

      

      
        	
                 

              	
                in
                  the age of 39

              	
                +
                  1
                  working day 27 working days

              

      

      
        	
                 

              	
                in
                  the age of 41

              	
                +
                  1
                  working day 28 working days

              

      

      
        	
                 

              	
                in
                  the age of 43

              	
                +
                  1
                  working day 29 working days

              

      

      
        	
                 

              	
                in
                  the age of 45

              	
                +
                  1
                  working day 30 working days

              

      

      The
        Employee is entitled to the longer paid leave for the first time in the
        year, in which he reaches the higher age.

      

      Supplementary
        leave due to the Employee:

      
        	
                 

              	
                o

              	
                supplementary
                  leave due to juveniles: 5 working days before reaching the age
                  of 18 and
                  in the year of completing 18 years of
                  age

              

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                o

              	
                On
                  the basis of the decision of the parents for the parent undertaking
                  a
                  bigger role in the bringing-up of his/her child or for the parent
                  bringing
                  up his/her child alone, on his/her child(ren) under the age of
                  16:

              

      

      
        	
                 

              	
                §

              	
                for
                  one child: two,

              

      

      
        	
                 

              	
                §

              	
                for
                  two children: four,

              

      

      
        	
                 

              	
                §

              	
                for
                  more than two children altogether seven working days per year are
                  due, for
                  the last time in the year in which the child(ren) complete(s) its
                  (their)
                  16th
                  year
                  of age.

              

      

      

      The
        date
        of delivering the paid leave will be determined by the
Employer, after hearing the
Employee.

      

      The
        Employer is obliged to deliver one quarter of the basic paid
        leave – save for the first three months of the employment – at the date
        according to the request of the Employee.

      The
        Employee shall announce his relevant claim no later than
        fifteen days before the commencement of the leave.

      

      The
        paid
        leave shall be delivered in the year of its due date, exceptions are the
        illness
        of the Employee or a particularly important economic
        interest.

      The
        leave
        may be delivered in more than two instalments only at the request of the
        Employee.

      

      

      Remarks
        to § 8:

      The
        employment may be terminated:

      
        	
                 

              	
                a)

              	
                with
                  the common consent of Employer and
                  Employee;

              

      

      
        	
                 

              	
                b)

              	
                by
                  ordinary notice;

              

      

      
        	
                 

              	
                c)

              	
                by
                  extraordinary notice;

              

      

      
        	
                 

              	
                d)

              	
                with
                  immediate effect during the probation
                  period.

              

      

      

      The
        agreement or declarations directed to the termination of the employment shall
        be
        reduced to writing, no deviation therefrom shall be valid.

      The
        Employer shall reason its notice of termination; the cause of the termination
        shall clearly transpire from the reasoning. In case of a dispute the Employer
        shall prove the reality and reasonableness of the cause of termination. The
        cause of termination may only be a cause related to the capabilities of the
        Employee, to his conduct related to the employment or to the operation of
        the
        Employer.

      

      Notice
        period

       

      In
        case
        of ordinary notice of the Employer or the
Employee the extent of the notice period shall
        be:

      
        	
                 

              	
                o

              	
                at
                  least thirty days.

              

      

       

      The
        thirty-day notice period will be extended

      
        	
                 

              	
                o

              	
                by
                  five days after three years

              

      

      
        	
                 

              	
                o

              	
                by
                  fifteen days after five years

              

      

      
        	
                 

              	
                o

              	
                by
                  twenty years after eight years

              

      

      
        	
                 

              	
                o

              	
                by
                  twenty-five days after ten years

              

      

      
        	
                 

              	
                o

              	
                by
                  thirty days after fifteen years

              

      

      
        	
                 

              	
                o

              	
                by
                  forty days after eighteen years

              

      

      
        	
                 

              	
                o

              	
                by
                  sixty days after twenty years

              

      

      spent
        in
        employment with the Employer.

      

      The
        Employer shall exempt the Employee from the
        performance of work for half of the notice period at the date and  in
        the instalments according to the request of the Employee. The
Employee is entitled to his average earnings
        for the period of
        exemption.

       

       

    

    10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00131-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00131-of-00352.parquet"}]]