(d) if the executive receives a payment for which the reduced amount was set in accordance with 3.6 (a) point 3.6 (a) and the Internal Revenue Service finds that part of the payment is subject to excise duty, so that the executive service immediately returns to the company a sufficient amount of payment (after reduction 3.6 a) of Section 3.6 (a) so that the remaining portion of the payment is not subject to excise duty. In order to avoid any doubt, the executive is not required to return part of the payment in accordance with sentence 3.6 (a) if the reduced amount has been set in accordance with point y, point 3.6 a). This site is protected by reCAPTCHA and Google`s privacy rules and terms of use apply. 3.5 Automatic removal from officer positions. Any termination of management`s employment has an automatic effect on the dismissal of executives from all officer positions that Executive then holds with the company, the parent company or one of its companies related to the time of effective termination. I recognize the commitments I have made under my agreement on protected information and inventions. In accordance with the Agreement on Protected Information and Inventions, I understand that, among other things, confidential or business owners information should not be used or disclosed and that I must immediately return all ownership and ownership documents of the business (including all incarnations of property information) and all copies of them in my possession or control. I understand and agree that my right to resigned benefits, which I receive in exchange for my agreement on the terms of this release and waiver, depends on my continued compliance with my agreement on protected information and inventions. Potentially costly tax problems may arise in an officer`s contractual arrangements. The internal revenue code section 409A applies to a salary that an employee earns in a year, but which will be paid in the coming year. It is called unqualified deferred compensation. If deferred compensation complies with Section 409A requirements, this does not affect the employee`s taxes. Compensation is taxed in the same way as it would be taxed if it were not subject to Section 409A.

However, if the deferred compensation does not comply with Section 409A requirements, compensation is subject to certain additional taxes, including an additional 20% income tax. 409A problems in employment contracts may result from bonuses, severance agreements, stock bonuses, clearances and repayment agreements. 2.5 Expenses. After submitting expense notes in the manner defined by the company, the company will pay reasonable travel and other reasonable business expenses related to the employment of Executive with the company, in accordance with the company`s guidelines set out in the Company`s Executive Manual. To the extent that payments or refunds to the executive under this agreement, including but not limited to this section 2.5, are considered compensations for the executive to which Section 1.409A-3 (i) (i) (1) (iv) would apply, these amounts are considered appropriate without delay, but no later than December 31 of the year in which the costs are incurred. , paid or refunded.