Dated01March 2014
SERVICE AGREEMENT
between
Mitovie PharmaEuropeLimited
and
Dr MichaelHawthorne
Kennedys
25FenchurchAvenueLondon
EC3M5ADTel.02076679667
Fax.02076679777
Ref.10/CVB/M943-3421942(RND)
Contents
| 1 | INTERPRETATION ................................................................................................................................ | 4 |
| 2 | TERM OF APPOINTMENT .................................................................................................................. | 6 |
| 3 | PROFESSIONAL QUALIFICATIONS ................................................................................................. | 7 |
| 4 | EMPLOYEE WARRANTIES ................................................................................................................. | 7 |
| 5 | DUTIES .................................................................................................................................................... | 7 |
| 6 | PLACE OF WORK ................................................................................................................................. | 9 |
| 7 | HOURS OF WORK ................................................................................................................................ | 9 |
| 8 | SALARY ................................................................................................................................................. | 9 |
| 9 | EXPENSES ............................................................................................................................................... | 10 |
| 10 | BONUS ..................................................................................................................................................... | 10 |
| 11 | Life Assurance ........................................................................................................................................ | |
| 12 | PRIVATE MEDICAL INSURANCE ..................................................................................................... | 11 |
| 13 | DIRECTORS' AND OFFICERS' INSURANCE.................................................................................... | 12 |
| 14 | CAR .................................................................................... ERROR! BOOKMARK NOT DEFINED. | |
| 15 | HOLIDAYS .............................................................................................................................................. | 12 |
| 16 | INCAPACITY ......................................................................................................................................... | 13 |
| 17 | OUTSIDE INTERESTS .......................................................................................................................... | 14 |
| 18 | CONFIDENTIAL INFORMATION ...................................................................................................... | 14 |
| 19 | INTELLECTUAL PROPERTY ............................................................................................................... | 14 |
| 20 | CEASING TO BE A DIRECTOR ........................................................................................................... | 15 |
| 21 | PAYMENT IN LIEU OF NOTICE ......................................................................................................... | 15 |
| 22 | TERMINATION WITHOUT NOTICE ................................................................................................. | 16 |
| 23 | CHANGE OF CONTROL ....................................................................................................................... | 17 |
| 24 | GARDEN LEAVE .................................................................................................................................... | 19 |
| 25 | OBLIGATIONS ON TERMINATION .................................................................................................. | 19 |
| 26 | POST-TERMINATION RESTRICTIONS ............................................................................................ | 20 |
| 27 | DISCIPLINARY AND GRIEVANCE PROCEDURES ......................................................................... | 22 |
| 28 | PENSIONS ............................................................................................................................................... | 23 |
| 29 | DATA PROTECTION ............................................................................................................................ | 23 |
| 30 | COLLECTIVE AGREEMENTS .............................................................................................................. | 24 |
| 31 | RECONSTRUCTION AND AMALGAMATION .............................................................................. | 24 |
| 32 | NOTICES ................................................................................................................................................. | 24 |
| 33 | ENTIRE AGREEMENT .......................................................................................................................... | 25 |
| 34 | VARIATION ........................................................................................................................................... | 25 |
| 35 | COUNTERPARTS .................................................................................................................................. | 25 |
| 36 | THIRD PARTY RIGHTS ........................................................................................................................ | 25 |
| 37 | GOVERNING LAW AND JURISDICTION ......................................................................................... | 26 |
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THIS AGREEMENTisdated01March2014
Parties
(1) MitoviePharma EuropeLimitedincorporatedandregistered inScotlandwithcompany numberSC264289whoseregisteredofficeisatBioCityScotland,Bo’Ness Road,Newhouse,Lanarkshire,ML15UH(Company&AssociatedGroupCompanies).
(2) MichaelHawthorne,20LarksboroughAvenue,Newtownards,BT238SU(Employee).
Agreedterms
1 INTERPRETATION
1.1 Thedefinitions andrulesof interpretationin thisclause1applyin this agreement.
Agreed Sum:an amountequivalenttothe grossvalueofone year'sbasicsalaryas specifiedinclause8.1 (lessanysumspaid totheEmployeebywayof noticeorpayment inlieuofnotice).
Appointment: theemploymentoftheEmployeebytheCompanyonthetermsofthis agreement.
Associated Employer:has themeaning givento itintheEmployment RightsAct 1996.
Board: theboard ofdirectors ofthe Company(including anycommittee ofthe boarddulyappointed byit).
Capacity: asagent, consultant,director, employee,owner, partner,shareholder orin anyothercapacity.
Commencement Date:1March2014
Confidential Information:information (whetheror notrecorded indocumentary form,or storedon anymagnetic oroptical diskor memory)relating tothe business,products, affairsand financesof theCompanyforthetimebeingconfidentialtotheCompany andtradesecrets including,withoutlimitation, technicaldata andknow-howrelating tothebusinessof theCompanyorany ofitsbusinesscontacts, includinginparticular(by wayofillustration onlyandwithout limitation).
Control: inrelation toabodycorporate, thepowerofapersonto securethattheaffairs ofthebodycorporate areconductedinaccordancewiththe wishesofthat person(orpersons):
(a) bymeans oftheholding ofshares,orthe possessionofvotingpower, inorinrelationto, that oranyother bodycorporate;or
(b) byvirtue ofanypowersconferred bytheconstitutionalor corporatedocuments,orany otherdocument,regulatingthatorany otherbodycorporate,
andaChange ofControloccursifapersonwhocontrols anybodycorporateceases todoso orifanotherperson acquiresControlofit,but doesnotoccurin thecircumstancesdescribedin clause23.
Employee's family:the Employee'sspouse orcivil partnerand childrenundertheageof18.
FSA: theFinancial ServicesAuthority andits successors.
Garden Leave:any periodduring whichthe Companyhas exercisedits rightsunder clause22.44.
Group Company:the Company,its Subsidiariesor HoldingCompaniesfromtime totimeandany Subsidiaryofany HoldingCompanyfromtime totime.
Incapacity: anysickness orinjury whichprevents theEmployee fromcarrying out hisduties.
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Intellectual PropertyRights:patents,rightstoInventions, copyrightandrelatedrights, trademarks,tradenames anddomainnames,rights inget-up,rightsin goodwillortosueforpassing off,unfaircompetitionrights, rightsindesigns,rights incomputersoftware,database rights,topographyrights,rights inconfidentialinformation(including know-howandtradesecrets) andanyotherintellectualpropertyrights, ineach casewhetherregistered orunregisteredandincluding allapplications(orrightstoapply)for, andrenewalsorextensions of,suchrightsand allsimilarorequivalentrightsorforms ofprotectionwhichsubsist orwillsubsistnow or inthefuture inany part oftheworld.
Invention: anyinvention, idea,discovery,development,improvementorinnovation,whetherornotpatentableorcapableofregistration,andwhetherornot recordedinanymedium.
Pre-Contractual Statement:any undertaking,promise, assurance,statement,representation,warrantyorunderstanding(whetherinwritingornot)ofanyperson(whetherpartytothisagreementornot)relatingtotheEmployee'semploymentunderthisagreementwhichisnotexpresslysetoutin thisagreement [oranydocuments referredtoinit].
Restricted Business:the businessof manufactureand wholesaledistribution ofmedicines orany otherbusiness thattheemployeewas involvedintoamaterialextent inthe6monthsbeforeTermination.
Restricted Customer:anyfirm,companyorpersonwho,duringthe6months beforeTermination,wasacustomeror latestageprospectivecustomer oforwasin thehabitofdealingwiththe CompanyoranyGroup Companywithwhomthe Employeehadcontact orabout whomhebecame awareorinformedinthe courseofemployment.
Restricted Person:anyone employedor engagedby theCompany orany GroupCompany whocouldmateriallydamagetheinterestsofthe CompanyoranyGroup Companyifthey wereinvolvedinany Capacityinanybusiness concernwhichcompeteswithanyRestricted Businessandwith whomtheEmployee dealtinthe6monthsbeforeTerminationinthecourseof employment.
Staff Handbook:the Company'sstaff handbookas amendedfrom timeto time.
Subsidiary andHolding Company:inrelationtoacompany mean"subsidiary"and"holding company"asdefinedin section1159ofthe CompaniesAct2006 [andacompany shallbetreated,for thepurposesonlyof themembershiprequirementcontained insubsections1159(1)(b)and(c),asamemberof anothercompanyeven ifits sharesinthatother companyareregisteredin thenameof(a)anotherperson(or itsnominee),whetherby wayofsecurity orinconnectionwiththetakingof security,or (b) anominee].
Termination: thetermination ofthe Employee'semployment withthe Companyhowevercaused.
1.2 Theheadings inthis agreementare insertedfor convenienceonly andshall not affect itsconstruction.
1.3 Areference toaparticular lawisareferencetoitasit isinforceforthetime beingtakingaccountof anyamendment,extension,or re-enactmentandincludesany subordinatelegislationforthetimebeing inforcemade underit.
1.4 Unlessthe contextotherwise requires,areference toone gendershallincludeareferenceto theother genders.
1.5 Unlessthe contextotherwise requires,words inthe singularinclude theplural andinthe pluralincludethesingular.
1.6 Theschedules tothis agreementform partof (andareincorporated into)this agreement.
2 TERM OFAPPOINTMENT
2.1 Indefiniteterm
The Appointmentshall bedeemed tohavecommencedonthe CommencementDateandshallcontinue,subject totheremainingterms ofthisagreement,until terminatedbyeitherparty givingtheothernotlessthan six(6)months'priornotice inwriting.
2.2 Thefirst six(6) monthsof theAppointment shallbe aprobationaryperiod andthe Appointmentmaybe terminated duringthisperiodatanytime ononemonth’snotice orpaymentinlieu ofnotice.TheCompanymay,at itsdiscretion,extendthe probationaryperiodforuptoafurther three(3)months.During theprobationaryperiod theEmployee'sperformance andsuitabilityfor continuedemploymentwillbe monitored.Attheendoftheprobationaryperiodthe Employeewillbeinformedinwritingif hehas successfullycompletedhisprobationary period.
2.3 Noemployment withaprevious employercountstowardsthe Employee'speriodof continuousemploymentwith theCompany.
2.4 TheEmployee consentsto thetransfer ofhis employmentunder thisagreement toanAssociated Employer at anytimeduringthe Appointment.
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3 PROFESSIONAL QUALIFICATIONS
3.1 Itisaconditionofthis agreementthattheEmployeeholdsarelevantprofessionalqualification andshallcontinueatalltimesduringthe Appointment tobesoqualified.
3.2 TheEmployee shallimmediately notifythe Companyif heceases toholdthis qualificationduring theAppointment, orbecomessubject toanyinquiry,investigationorproceedingthat maylead totheloss ofthequalification.
4 EMPLOYEEWARRANTIES
4.1 TheEmployee representsand warrantsto theCompany that,by enteringinto thisagreement orperforming anyof hisobligations underit, hewill notbe inbreach ofany court orderor anyexpress orimplied termsof anycontract orother obligationbinding onhim andundertakes toindemnify theCompany againstanyclaims, costs,damages,liabilities orexpenseswhich theCompanymay incuras aresult ifhe isinbreachof anysuchobligations.
4.2 TheEmployee warrantsthat heis entitledto workinthe UnitedKingdomwithoutanyadditionalapprovals andwillnotifythe Companyimmediatelyifhe ceasestobesoentitledduringtheAppointment.
4.3 TheEmployee warrantsthat heis notsubject toany restrictionswhichprevent himfromholding office as adirector.
5 DUTIES
5.1 TheEmployeeshall serve theCompanyasChief ExecutiveOfficer.
5.2 DuringtheAppointment theEmployeeshall:
(a) actasadirectorof the Companyandcarryoutdutieson behalfofanyotherGroupCompany including,ifsorequired bytheBoard,acting asanofficeror consultantofany suchGroupCompany;
(b) complywiththearticles ofassociation(asamended fromtimetotime) ofanyGroup Companyof whichheisadirector;
(c) abideby anystatutory,fiduciaryor common-law dutiestotheCompany ofwhichhe is adirector;
(d) notdo anythingthatwouldcause himtobedisqualified fromactingasadirector;
(e) complywithallrequirements, recommendationsorregulations,asamended fromtime totime, ofallregulatory authorities relevanttothe Companyandanycode ofpracticeissuedby theCompany(asamended fromtimetotime);
(f) complywiththerequirements underbothlegislationand regulationasto thedisclosureofinsideinformation;
(g) unlesspreventedbyIncapacity, devotethewhole of histime,attentionand abilitiestothebusiness oftheCompanyandanyGroup Companyofwhichheis anofficeror consultant;
(h) faithfullyand diligentlyexercisesuchpowersandperform suchdutiesasmay fromtimetotimebe assignedtohim bythe Boardtogetherwithsuch personor personsas theBoardmay appoint toactjointlywithhim;
(i) complywithallreasonable andlawfuldirectionsgiven tohimbythe Board;
(j) promptlymake suchreportstothe Boardinconnectionwiththeaffairsof theCompany onsuch mattersandatsuchtimes as arereasonablyrequired;
(k) reporthisownwrongdoing andanywrongdoing orproposedwrongdoing of anyotheremployeeor directoroftheCompany totheBoardimmediately onbecomingawareof it;
(l) usehis bestendeavourstopromote, protect,developandextend thebusinessof the Company;
(m) consentto theCompanymonitoringand recordinganyusethat hemakesofthe Company'selectroniccommunicationssystems forthepurpose of ensuringthattheCompany's rulesarebeing compliedwithandforlegitimatebusinesspurposes; and
(n) complywithanyelectroniccommunicationsystemspolicythatthe Companymayissue from timetotime.
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5.3 TheEmployee shallcomplywithanyrules,policiesandproceduressetoutintheStaffHandbook,acopy ofwhichisavailablefromtheFinanceDepartment. TheStaffHandbookdoes notformpartofthisagreement and theCompanymayamend itatanytime. Totheextent thatthereis anyconflictbetweentheterms ofthisagreementandtheStaff Handbook,thisagreement shallprevail.
5.4 Alldocuments, manuals,hardware andsoftware providedfor theEmployee's useby theCompany, andany dataor documents(including copies)produced, maintainedor storedon theCompany's computersystems orother electronicequipment (includingmobilephones), remaintheproperty oftheCompany.
6 PLACE OFWORK
6.1 TheEmployee's normalplace ofwork isBioCity Scotland,Bo’Ness Road,Newhouse, Lanarkshire,ML15UH.
6.2 TheEmployee agreestotravel onthe Company'sbusiness (bothwithinthe United Kingdomorabroad)as mayberequiredfor theproperperformanceof hisdutiesundertheAppointment.
6.3 Duringthe Appointmentthe Employeeshallnotbe requiredtowork outsidetheUnited Kingdomfor anycontinuousperiod ofmorethan onemonth.
7 HOURSOFWORK
7.1 TheEmployee's normalworking hoursshall be09.00 to17.30 onMondays toFridays andsuch additionalhours asare necessaryfor theproper performanceof hisduties. TheEmployee acknowledgesthat heshallnotreceivefurtherremunerationin respect ofsuchadditionalhours.
7.2 Thepartieseach agree that thenatureoftheEmployee's positionis suchthathisworking timecannotbemeasured and,accordingly,thattheAppointmentfallswithinthescope ofregulation20 oftheWorking TimeRegulations1998.
8 SALARY
8.1 TheEmployee shallbe paidan initialsalary of£100,000 perannum (inclusiveof anyfees dueto theEmployee bythe Companyas anofficerof theCompany).
8.2 TheEmployee's salaryshallaccruefrom daytodayand bepayablemonthlyin arrearsandinadvanceonor aboutthe 28thof eachmonthdirectly into theEmployee'sbank orbuildingsociety.
8.3 TheEmployee's salaryshall bereviewed bythe Boardannually, thefirst suchreview totake placeon1March 2015.TheCompanyis undernoobligationto awardanincreasefollowingasalaryreview.There willbenoreview ofthesalaryafter noticehasbeengivenbyeither partytoterminate theAppointment.
8.4 TheCompany maydeduct fromthe salary,or anyother sumsowed tothe Employee,any moneyowedto theCompanybythe Employee.
9 EXPENSES
9.1 TheCompany shallreimburse (orprocure thereimbursement of)all reasonableexpenses wholly,properly andnecessarily incurredbytheEmployeeinthecourseoftheAppointment,subjecttoproductionofVATreceiptsorother appropriateevidenceofpayment.
9.2 TheEmployee shallabide bythe Company'spoliciesonexpenses assetoutin theStaffHandbook fromtimetotime.
9.3 Anycreditcardsupplied totheEmployeeby theCompanyshallbe usedonlyforexpenses incurredbyhim inthecourseofthe Appointment.
10 BONUS
10.1 TheBoard mayin itsabsolute discretionpay theEmployeeabonusof suchamount, atsuchintervals and subjecttosuchconditionsastheBoardmayinitsabsolutediscretion determinetakingintoaccountspecificperformance targets,asagreedbetweentheEmployee andtheBoard fromtime totime.
10.2 Anybonus paymenttotheEmployee shallbepurelydiscretionary andshallnotform partoftheEmployee's contractualremunerationunderthis agreement.Ifthe CompanymakesabonuspaymenttotheEmployeeinrespect ofaparticular financialyearofthe Company,itshallnot beobligedto makesubsequentbonuspayments inrespectofsubsequent financialyearsof theCompany.
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10.3 TheCompany mayalter theterms ofany bonustargets orwithdraw themaltogetherat anytimewithoutpriornotice.
10.4 Notwithstandingclause10, theEmployeeshallin anyevent havenoright to abonusoratime-apportionedbonusif:
(a) hisemployment terminatesforanyreason orheisunder noticeoftermination (whethergivenby theEmployeeorthe Company)atorbeforethe datewhen abonus might otherwise havebeenpayable.
10.5 Anybonuspayments shall not bepensionable.
11 LIFEASSURANCE
11.1 Aftersuccessful completionof theprobationary periodreferred toin clause 2.2the Employeeshall beentitledtoparticipateinthe Company'slifeassurancescheme whichshallpaytothe Employee'sdependentsasumequalto threetimestheEmployee's salaryiftheEmployee diesduringtheAppointment. Participationissubject to:
(a) theterms oftheCompany'slife assurancescheme,asamended fromtimeto time;
(b) therules ortheinsurancepolicy oftherelevantinsurance provider,asamendedfromtime to time;and
(c) theEmployee satisfyingthenormalunderwriting requirementsoftherelevant insuranceproviderandthe premiumbeingatarate which theCompanyconsiders reasonable.
Full detailsoftheschemeare availablefromtheFinanceDepartment.
11.2 Ifthe insuranceproviderrefusesfor anyreasontoprovide lifeassurancebenefitto theEmployeetheCompany shallnotbe liabletoprovideto theEmployeeanyreplacementbenefitof thesameorsimilar kindortopayanycompensationin lieuofsuch benefit.
11.3 TheCompany inits soleand absolutediscretion reservestherightto discontinue,varyoramend itslifeassurancescheme (includingthelevelof theEmployee'scover)atany timeonreasonablenotice totheEmployee.
12 PRIVATE MEDICALINSURANCE
12.1 Aftersuccessful completionof theprobationary periodreferred toin clause 2.2the Employeeand theEmployee's familyshall beentitledtoparticipateintheCompany'sprivate medicalinsurancescheme subject to:
(a) thetermsof that scheme,as amendedfromtimeto time;
(b) therules orinsurancepolicyof therelevantinsuranceprovider, asamendedfrom timeto time;and
(c) theEmployee andhisspouseor civilpartnerand anychildren underthe ageof18 satisfying thenormalunderwritingrequirements oftherelevantinsurance providerandthepremiumbeingataratewhichthe Companyconsidersreasonable.
Full detailsoftheCompany's privatemedicalinsurancescheme areavailablefromtheFinance Department.
12.2 Ifthe insuranceproviderrefusesfor anyreasontoprovide privatemedicalinsurancebenefit totheEmployeeor totheEmployee'sfamily theCompanyshallnot beliabletoprovide anyreplacementbenefitof thesameorsimilar kindorto payany compensationinlieu ofsuchbenefit.
12.3 TheCompany inits soleand absolutediscretion reservestherightto discontinue,varyoramend thescheme(includingthe leveloftheEmployee's cover) at anytimeonreasonable noticetotheEmployee.
13 DIRECTORS' ANDOFFICERS'INSURANCE
During theAppointmentandforsixyearsfollowing TerminationtheEmployeeshallbe entitledtobecovered byapolicy ofdirectors'andofficers' liabilityinsuranceonterms nolessfavourablethan thoseinplacefrom timetotimefor othermembersoftheBoard.Acopyof the policyisavailablefromtheFinance Department.
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14 HOLIDAYS
14.1 TheEmployee shallbeentitledto25days'paidholidayineachholidayyeartogetherwiththeusualpublicholidaysasstatedinthe Companyhandbook.TheCompany's holidayyearrunsbetween1Apriland31 March.IftheAppointment commencesorterminates partwaythroughaholidayyear,theEmployee'sentitlementduringthatholiday yearshallbecalculated on apro-ratabasis roundeduptothe nearest halfday.
14.2 Holidayshall betakenatsuch timeortimesas shallbeapprovedin advancebytheChief ExecutiveOfficer.TheEmployeeshallnot withouttheconsentof theBoardcarryforwardanyaccrued butuntakenholidayentitlement toasubsequentholiday yearunlesstheEmployee hasbeenunavoidablyprevented fromtaking suchholidayduring therelevantleaveyear becauseofsicknessabsence orstatutorymaternity,paternity oradoptionleave.
14.3 TheEmployee shallhaveno entitlementto anypaymentinlieuof accrued butuntakenholidayexceptontermination oftheAppointment.Subject toclause14.3theamountof suchpaymentinlieushallbe 1/260thoftheEmployee's full-timeequivalentsalaryfor each untaken dayoftheentitlementunderclause14 fortheholiday yearin whichterminationtakesplace andanyuntakendays carriedforwardfromthe precedingholidayyear.
14.4 Ifthe Companyhasterminatedor wouldbeentitledtoterminate theAppointmentunderclause 19.2orifthe Employeehasterminated theAppointmentinbreach ofthisagreementany paymentdueunderclause 14.2shallbelimited totheEmployee'sstatutoryentitlementunder theWorking TimeRegulations1998 andanypaid holidays(includingpaidpublic holidays)takenshallbedeemedfirsttohave beentakeninsatisfaction ofthatstatutory entitlement.
14.5 Ifon terminationoftheAppointment theEmployeehastakeninexcess ofhisaccruedholiday entitlement,theCompanyshall beentitledtorecover fromtheEmployeeby wayofdeductionfrom anypaymentsdueto theEmployeeorotherwise oneday'spay(calculatedat 1/260thoftheEmployee'sfull-time equivalent salary)foreachexcess day.
14.6 Ifeither partyhasservednotice toterminatetheAppointment, theBoardmay requiretheEmployeeto takeanyaccruedbut unusedholidayentitlementduring thenoticeperiod.Anyaccruedbutunusedholidayentitlementshallbe deemedtobetaken duringanyperiodof GardenLeaveunderclause 22.44.
14.7 Duringany continuousperiod ofabsence dueto Incapacityof onemonth ormore theEmployee shallnotaccrueholiday underthiscontractandtheEmployee's entitlementunderclause14 fortheholidayyear inwhichsuchabsence takes placeshallbereduced prorata savethat it shall not fallbelowtheEmployee'sentitlement undertheWorkingTime Regulations1998.
15 INCAPACITY
15.1 Subjectto theEmployee's compliancewiththeCompany'ssicknessabsenceprocedures(asamendedfromtimetotime),heshallcontinuetoreceivehisfullsalaryandcontractualbenefitsduringanyperiod ofabsenceduetoIncapacity foruptoan aggregateof 2weeksin any52weekperiod. Suchpaymentshall beinclusiveofany statutorysick payduein accordancewithapplicablelegislation in forceat thetimeof absence.
15.2 TheEmployee agreestoconsent tomedical examinations(atthe Company's expense)byadoctornominatedbytheCompany shouldtheCompanyso require.TheEmployeeagrees thatanyreportproduced inconnectionwithany suchexaminationmaybe disclosedtotheCompany andtheCompanymay discussthecontentsof thereportwiththe relevant doctor.
15.3 Ifthe Incapacityisorappears tobeoccasionedby actionablenegligence,nuisanceor breachofanystatutory dutyonthepartofathirdpartyinrespect ofwhichdamagesare ormayberecoverable, theEmployeeshallimmediatelynotify theBoardof thatfactandofanyclaim,compromise,settlementorjudgment madeorawardedin connectionwithit andall relevantparticularsthat theBoardmayreasonably require.TheEmployeeshall ifrequiredby theBoard,refundtothe Companythatpartofany damagesorcompensationrecovered byhimrelating tothe lossofearningsfor theperiodofthe IncapacityastheBoardmayreasonablydetermineless anycostsborneby himinconnectionwith therecoveryofsuch damagesorcompensation,provided thattheamountto be refundedshallnotexceed thetotalamountpaid totheEmployeeby theCompanyinrespect oftheperiodof Incapacity.
15.4 Therights ofthe Companyto terminatethe Appointmentunder theterms ofthis Agreementapplyevenwhen suchterminationwouldor mightcausetheEmployeetoforfeit anyentitlementtosickpay,permanent healthinsuranceor otherbenefits.
16 OUTSIDEINTERESTS
16.1 Subjectto clause17.2, duringthe Appointmentthe Employeeshall not,except asarepresentative ofthe Companyor withtheprior written approvaloftheBoard,whetherpaid orunpaid,bedirectlyorindirectlyengaged,concernedor have anyfinancialinterestin anyCapacityinany otherbusiness,trade, professionoroccupation(or thesettingupofanybusiness,trade,profession oroccupation).
16.2 Notwithstandingclause 16,the Employeemay holdan investmentbywayof sharesorothersecurities ofnotmorethan5%ofthetotal issuedsharecapitalof anycompany(whetheror notitislisted ordealtin onarecognizedstock exchange)wheresuchcompany does not carry on abusinesssimilar toorcompetitivewith anybusinessforthetime beingcarriedon bytheCompany.
16.3 TheEmployee agreestodisclose tothe Boardany mattersrelatingtohisspouse or civilpartner(oranyone livingassuch),childrenorparents whichmay,inthe reasonableopinionofthe Board,beconsideredto interfere,conflictorcompetewiththeproperperformance oftheEmployee'sobligations underthisagreement.
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17 CONFIDENTIALINFORMATION
17.1 TheEmployee acknowledgesthat inthe courseof theAppointment hewill haveaccess toConfidential Information.The Employeehas thereforeagreed toaccept therestrictions in thisclause18.
17.2 TheEmployee shallnot (exceptin theproper courseof hisduties),eitherduringtheAppointmentoratanytimeafteritstermination(howeverarising),useordisclosetoanyperson, companyorotherorganizationwhatsoever(andshallusehis bestendeavorstopreventthepublication ordisclosureof) anyConfidentialInformation.Thisshallnot applyto:
(a) anyuseor disclosureauthorizedby theBoard or requiredby law;
(b) anyinformation whichisalreadyin, orcomesinto,the publicdomainotherthan throughtheEmployee's unauthorized disclosure;or
(c) anyprotected disclosurewithinthemeaning ofsection43Aof theEmployment Rights Act 1996.
18 INTELLECTUAL PROPERTY
18.1 TheEmployee shallgivethe Companyfull writtendetails ofallInventions and ofallworksembodying IntellectualPropertyRightsmade whollyorpartially byhimatanytimeduringthecourseoftheAppointment whichrelateto, orarereasonablycapable ofbeingused in,thebusiness oftheCompany. TheEmployeeacknowledgesthatallIntellectualProperty Rightssubsisting(or whichmayinthe futuresubsist)inall suchInventionsandworks shallautomatically,oncreation, vestintheCompany absolutely.Totheextent thattheydonot vestautomatically,theEmployee holdsthemontrustforthe Company.TheEmployeeagrees promptly toexecutealldocuments anddoall actsasmay,intheopinionoftheCompany,benecessarytogive effecttothisclause 19.
18.2 TheEmployeehereby irrevocably waivesallmoralrights underthe Copyright, DesignsandPatentsAct1988(and allsimilarrightsin otherjurisdictions)whichhe hasorwillhaveinany existingorfutureworksreferredto inclause19.
18.3 TheEmployee herebyirrevocably appointsthe Companyto behis attorneyto executeand doanysuchinstrument orthingandgenerallytousehisnameforthe purposeofgivingthe Companyoritsnominee the benefitofthisclause 19andacknowledgesin favourofathirdpartythatacertificateinwriting signedbyanyDirector orthe Secretaryofthe Companythat anyinstrumentoractfalls withintheauthorityconferredbythisclause 19shallbeconclusive evidence that suchisthe case.
19 CEASINGTOBEADIRECTOR
19.1 ExceptwiththepriorapprovaloftheBoard,orasprovidedinthearticlesofassociationoftheCompany,theEmployeeshallnotresignasadirector oftheCompany.
19.2 Ifduring theAppointmenttheEmployee ceasestobeadirectorof theCompany(otherwisethan byreasonofhis death,resignationordisqualification pursuanttothearticles ofassociationofthe Company,asamendedfrom time totime,or bystatuteorcourtorder)theAppointmentshall continue withtheEmployeeas anemployeeonly andthe terms ofthisagreement(other thanthoserelatingto theholdingofthe officeofdirector)shall continueinfull forceand effect.TheEmployeeshall havenoclaimsin respect ofsuchcessationof office.
20 PAYMENTINLIEUOFNOTICE
20.1 Notwithstandingclause 1.6.1,the Companymay, initssole andabsolute discretion,terminatetheAppointmentatanytimeandwithimmediate effectby payingasuminlieuof notice(Payment inLieu) equaltothe basic salary(asatthedate oftermination)which theEmployeewouldhave beenentitledtoreceive underthisagreementduringthenotice periodreferredtoatclause2.1 (or,ifnoticehas alreadybeengiven,during theremainderofthenoticeperiod) lessincometax andNationalInsurance contributions.Fortheavoidance ofdoubt,thePayment inLieushall notincludeanyelementin relationto:
(a) anybonus orcommissionpaymentsthat mightotherwisehavebeendueduring theperiod forwhichthe Payment inLieuis made;
(b) anypayment inrespectofbenefits whichtheEmployeewould havebeenentitledto receiveduringtheperiod forwhichthePayment inLieuis made;and
(c) anypayment inrespectofany holidayentitlementthatwould haveaccruedduringtheperiodfor whichthePayment inLieuis made.
20.2 TheCompany maypayany sumsdue underclause21 in equalmonthlyinstalmentsuntil thedateonwhich thenoticeperiodreferred toatclause 2.1 wouldhave expiredif noticehad beengiven. TheEmployee shallbeobliged to seek alternativeincome duringthisperiod and tonotifytheCompany ofanyincomeso received.Theinstalmentpayments shallthenbereduced by the amountofsuch income.
20.3 TheEmployee shallhaveno rightto receiveaPayment in LieuunlesstheCompany hasexerciseditsdiscretioninclause20.Nothing inthisclause21 shallprevent theCompanyfrom terminatingtheAppointment inbreach.
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21 TERMINATION WITHOUT NOTICE
21.1 TheCompany mayalso terminatethe AppointmentwithimmediateeffectwithoutnoticeandwithnoliabilitytomakeanyfurtherpaymenttotheEmployee(otherthaninrespect ofamountsaccrueddue atthedateof termination)iftheEmployee:
(a) isdisqualifiedfrom actingas adirector orresigns as adirector from theCompanywithout thepriorwrittenapprovaloftheBoard;
(b) isguilty ofaserious breachoftherules orregulationsasamended fromtimetotime ofanyregulatoryauthorities relevanttotheCompany oranycodeof practiceissuedbythe Company(asamendedfrom timetotime);
(c) failsor ceasestomeetthe requirementsofanyregulatory bodywhoseconsentis requiredtoenablehim toundertakeallor anyofhisduties undertheAppointmentor isguiltyofaseriousbreachof therulesandregulationsof such regulatorybodyorof anycompliancemanualof theCompany;
(d) isguiltyof anygrossmisconduct affectingthebusinessof theCompany;
(e) commitsany seriousorrepeatedbreach ornon-observanceofany oftheprovisionsof thisagreementorrefuses orneglectstocomplywithany reasonableandlawful directionsofthe Board;
(f) is,in thereasonableopinion oftheBoard, negligent andincompetent inthe performanceof his duties;
(g) isdeclared bankruptormakesany arrangementwithorfor thebenefitofhis creditorsorhasacounty courtadministration ordermade againsthimunder theCounty CourtAct 1984;
(h) isconvicted ofanycriminaloffence (otherthananoffence underanyroadtraffic legislationinthe UnitedKingdomorelsewhereforwhichafineornon-custodial penaltyisimposed) oranyoffenceunderanyregulationor legislationrelatingtoinsider dealing;
(i) ceasestohold the relevant professionalqualification;
(j) becomesof unsoundmind(whichincludes lackingcapacityunderthe MentalCapacityAct2005), orapatient underanystatute relating tomentalhealth;
(k) ceasestobe eligible towork inthe UnitedKingdom;
(l) isguilty ofanyfraudor dishonestyoractsinanymanner whichinthe opinion oftheBoardbrings orislikelyto bringtheEmployeeor theCompanyintodisrepute orismateriallyadverse totheinterests ofthe Company;
(m) isguilty ofaseriousbreachofanyrules issuedbythe Companyfromtimetotime regardingitselectronic communications systems;or
(n) isunable byreasonofIncapacity toperformhisduties underthisagreement foranaggregateperiodof2weeksinany52-week period.
21.2 Therights ofthe Companyunder clause21 arewithout prejudiceto anyother rightsthat itmight haveat lawto terminatethe Appointmentor toaccept anybreach ofthisagreement bythe Employeeas havingbrought theagreement toanend.
Any delaybytheCompanyinexercisingits rights toterminateshallnot constitute awaiverthereof.
22 CHANGE OFCONTROL
22.1 Ifthere isaChangeofControl oftheCompanyand, within12monthsfollowing theChangeofControldirectlyor indirectlyinconnectionwithit:
(a) theCompany terminatestheAppointmentotherthan incircumstances inwhichit wasentitledtorely onclause 211);or
(b) theEmployee servesnoticetoterminate theAppointmentinaccordancewithclause 1.6, theCompanyshall, subject toclause22.2below, paytheAgreedSum totheEmployeewithinonemonth followingTermination.TheAgreed Sumshallbepayable lessanytax orotherstatutorydeductions whichtheCompanyis obligedtodeduct.
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22.2 Thepayment ofthe AgreedSum shallbe conditionalon andin considerationof:
(a) theEmployeecomplyingwiththeobligations inclause23.2(g);
(b) theEmployee complyingwithandcontinuing tocomplywithhisobligationsrelating toconfidentiality, intellectualpropertyandrestrictivecovenantsassetout in clause16.3,clause17.2(c)andclause 24.4respectively;
(c) Clause24.4 applyingnotwithstandingthatthe Appointmentmay,orwithoutthepayment oftheAgreedSum might,otherwisehavebeen repudiatedbytheCompany; and
(d) theEmployee executingsuchdocumentsinaform reasonablyacceptableto theCompany asit mayrequire.
22.3 Forthe avoidanceofdoubt,thepaymentoftheAgreedSumshallnotaffecttheEmployee'sentitlement toany ofthefollowing:
(a) anyaccruedbut unpaidsalary;
(b) anypayment inlieu of accruedbut unusedholiday;or
(c) thereimbursementofexpenses, providedthatall claims forreimbursement aresubmittedwithinfourweeksafterTermination, in relation,in eachcase, to the period before Termination.
22.4 Tothe extentthat theAgreed Sumis damages(which isnot admitted),the partiesagree thatthe termsof thisclause21.2representagenuinepre-estimateofthe losstotheEmployee thatwouldarise onterminationofthe Appointmentinthecircumstances describedanddoesnotconstitute apenalty. The[Companywaivesany requirementontheEmployeetomitigatehislosses inrespectofsuch terminationandthe]Employeeshall,subject toclause22.2(d),accept theAgreedSumin fullandfinalsettlementof allandany claimsthathemayhavearising outoftheAppointment oritstermination(excluding anypersonalinjuryclaimsofwhichhe isnot awareatTerminationor anyclaimsinrelation toaccruedentitlementsunder theCompanypensionscheme).
23 GARDEN LEAVE
23.1 Followingservice ofnoticeto terminatethe Appointmentby eitherparty,or if theEmployeepurportsto terminatetheAppointmentinbreachofcontract,the Boardmaybywritten noticeplacethe EmployeeonGardenLeave for thewholeorpart ofthe remainderofthe Appointment.
23.2 Duringanyperiod of GardenLeave:
(a) theCompany shallbeunderno obligationtoprovide anyworktothe Employeeandmayrevoke anypowerstheEmployee holdsonbehalfof theCompany;
(b) theCompanymayrequire theEmployeetocarryoutalternative dutiesor toonly performsuchspecific duties asareexpresslyassigned totheEmployee,at suchlocation(includingthe Employee'shome)asthe Companymaydecide;
(c) theEmployee shallcontinuetoreceive hisbasicsalaryand allcontractualbenefitsin theusualwayandsubjecttothe terms ofanybenefit arrangement;
(d) theEmployee shallremainanemployee oftheCompanyand boundbythe termsofthis agreement;
(e) theEmployee shallensurethatthe ChiefExecutiveOfficerknows wherehewill be andhowhecanbecontacted duringeachworkingday (except duringanyperiodstaken asholidayinthe usualway);
(f) theCompany mayexcludetheEmployee fromanypremisesof theCompany;and
(g) theCompanymayrequire theEmployeenot to contactordealwith (orattempttocontact ordealwith)any officer,employee,consultant,client, customer,supplier,agent,distributor, shareholder,adviserorother businesscontact oftheCompany.
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24 OBLIGATIONSONTERMINATION
24.1 Ontermination oftheAppointment(however arising)or,ifearlier,atthe start ofaperiodof GardenLeave, theEmployeeshall:
(a) resignimmediately withoutcompensationfromanyofficeortrusteeship that heholds inoron behalfof theCompany;
(b) transferwithoutpayment totheCompany orasit maydirect anyshares orothersecuritiesheld byhiminthe Companyasanomineeortrustee fortheCompany anddeliverto theCompanytherelated certificates;immediatelydeliver totheCompanyall documents,books,materials,records, correspondence,papersand information (onwhatevermediaandwhereverlocated)relating tothebusinessor affairsofthe Companyoritsbusiness contacts,anykeys,creditcardandanyother propertyoftheCompany including any carprovided totheEmployee,whichis inhispossessionor underhiscontrol;
(c) irretrievablydeleteanyinformation relatingtothe business oftheCompanystored onanymagnetic oropticaldiskor memoryandallmatterderivedfromsuchsources whichisinhis possessionorunderhis controloutsidetheCompany's premises;and
(d) provideasigned statementthat hehascomplied fullywithhis obligationsunderthisclause24togetherwithsuchreasonableevidence ofcomplianceas theCompanymayrequest.
24.2 Wherethe Employeehasbeen placedon GardenLeave heshallnot be requiredbyclause24 toreturnuntilthe endoftheGarden Leaveperiodanyproperty providedtohimasacontractualbenefitforuseduring theAppointment.
24.3 TheEmployee herebyirrevocably appointsthe Companyto behis attorneyto executeand doanysuchinstrument orthingandgenerallytousehisnameforthe purposeofgivingthe Companyoritsnominee the fullbenefitofclause 24.1andclause 24.1(a).
24.4 Ontermination oftheAppointment howeverarisingtheEmployeeshallnotbeentitledtoanycompensationforthelossofany rightsorbenefitsunder anyshareoption,bonus, long-termincentiveplanorotherprofit sharingschemeoperated bytheCompany inwhichhemayparticipate.
25 POST-TERMINATION RESTRICTIONS
25.1 Inorder toprotecttheconfidentialinformation,trade secretsandbusinessconnections oftheCompanytowhichhehasaccessas aresultoftheAppointment,the Employeecovenantswiththe Company(foritselfandastrustee andagent foreach GroupCompany)that heshallnot:
(a) for6months afterTermination solicitor endeavourtoentice away fromtheCompanythe businessorcustomofaRestrictedCustomerwithaviewtoprovidinggoodsor servicestothatRestricted CustomerincompetitionwithanyRestrictedBusiness;
(b) for6months afterTermination inthe courseofany business concernwhichisin competitionwithanyRestricted Business,offertoemploy orengageorotherwise endeavourtoenticeaway fromtheCompanyany RestrictedPerson;
(c) for6months afterTermination, beinvolvedinanyCapacitywithanybusiness concernwhich is(orintends to be)incompetitionwithany RestrictedBusiness;
(d) for6months afterTermination beinvolved withtheprovision of goodsorservicesto (orotherwisehaveany businessdealingswith)anyRestrictedCustomer inthecourseof anybusinessconcernwhichisin competitionwith anyRestrictedBusiness;or
(e) atany timeafterTermination,represent himselfasconnectedwiththeCompany inanyCapacity.
25.2 Noneofthe restrictionsinclause 25 shallpreventthe Employeefrom:
(a) holdingan investmentbyway ofsharesorother securitiesofnotmore than[5]%ofthetotalissued sharecapitalofanycompany,whetherornot it islistedordealt inon arecognised stockexchange;
(b) beingengaged orconcernedinany businessconcerninsofaras theEmployee'sdutiesorworkshallrelatesolely togeographicalareaswhere thebusinessconcernis notincompetitionwith anyRestrictedBusiness;or
(c) beingengaged orconcernedinany businessconcern,provided thattheEmployee'sduties orworkshallrelate solelytoservicesor activitiesofakind withwhichtheEmployee was not concernedtoamaterialextentinthe 6months beforeTermination.
25.3 Therestrictions imposedon theEmployee bythis clause24.46 applytohim acting:
(a) directlyorindirectly;and
(b) onhis ownbehalforon behalfof,orin conjunctionwith,anyfirm, companyorperson.
25.4 Theperiods forwhichtherestrictions inclause25apply shallbereducedby anyperiodthatthe EmployeespendsonGarden LeaveimmediatelybeforeTermination.
25.5 Ifthe Employeereceivesanoffer tobeinvolvedinabusinessconcernin anyCapacityduringthe Appointment,orbeforetheexpiryofthelastofthecovenantsin thisclause24.4,the Employeeshallgivethepersonmaking theofferacopyof thisclause 24.4andshalltell theCompanytheidentityofthat personassoonas possible.
25.6 TheCompany andthe Employeeentered intotherestrictions inthis clause 24.4 having beenseparatelylegally advised.
25.7 Eachof therestrictions inthis clause24.46 isintended tobe separateand severable.Ifany ofthe restrictionsshall beheldto be voidbutwouldbevalidif partoftheirwording weredeleted, suchrestrictionshall applywithsuchdeletionas maybenecessaryto makeit validoreffective.
25.8 TheEmployee will,at therequestand expenseof theCompany, enterintoaseparateagreementwithanyGroup Companyin whichheagrees to beboundbyrestrictions correspondingtothoserestrictions inthisclause24.46 (orsuchofthose restrictionsastheCompany deemsappropriate)inrelationtothat GroupCompany.
26 DISCIPLINARY ANDGRIEVANCE PROCEDURES
26.1 TheEmployee issubject tothe Company'sdisciplinary andgrievance procedures,copies ofwhich areavailable FinanceDepartment. Theseprocedures donot formpart ofthe Employee'scontract ofemployment.
26.2 Ifthe Employeewantstoraiseagrievance,hemay applyinwritingtotheChief ExecutiveOfficerinaccordancewiththe Company'sgrievanceprocedure.
26.3 Ifthe Employeewishestoappeal againstadisciplinary decisionhemayapply inwritingtothe ChairmaninaccordancewiththeCompany's disciplinaryprocedure.
26.4 TheBoard maysuspend theEmployee fromanyor allof hisduties foraperiod ofupto 30 daysduringanyperiodinwhichtheCompanyisinvestigatinganydisciplinarymatterinvolving theEmployeeor whileanydisciplinary procedureagainst theEmployee is outstanding.
26.5 Duringanyperiod of suspension:
(a) theEmployee shallcontinuetoreceive hisbasicsalaryand allcontractualbenefitsin theusualwayandsubjecttothe terms ofanybenefit arrangement;
(b) theEmployee shallremainanemployee oftheCompanyand boundbythe termsofthis agreement;
(c) theEmployee shallensurethatthe ChiefExecutiveOfficerknows wherehewill be andhowhecanbecontacted duringeachworkingday (except duringanyperiodstaken asholidayinthe usualway);
(d) theBoard mayexcludetheEmployee fromhisplaceofwork oranyother premisesoftheCompany;and
(e) theBoard mayrequiretheEmployee nottocontactordealwith(orattemptto contactor dealwith)any officer, employee,consultant,client, customer,supplier, agent,distributor, shareholder,adviseror other businesscontact ofthe Company.
27 PENSIONS
27.1 TheEmployee mayjointhe Company'sgroup personalpension scheme(Scheme)(or such otherregisteredpensionscheme asmaybesetupbytheCompanytoreplacetheScheme) subjecttosatisfying certaineligibilitycriteriaand subjecttothe rulesofthe Schemeasamended fromtimeto time.Fulldetails oftheScheme areavailablefromtheFinanceDepartment.
27.2 Ifthe EmployeejoinstheScheme, theCompanyshallcontribute anamountequalto 5%oftheEmployee's salarytotheScheme duringeachyearoftheAppointment. TheCompany'scontributionsto theSchemeshallbe payableinequal monthlyinstallmentsin arrears,and shallbesubject totherulesof theSchemeandthe taxreliefsand exemptionsavailablefromHM Revenue&Customs,as amendedfromtimeto time.
27.3 TheEmployee maymakecontributions tothe Schemeofan amountuptothe lowerof100%of theEmployee'ssalaryand theannualallowanceset byHMRevenue&Customsfrom timetotime.Suchcontributionsshallbe payableinequalmonthly installments inarrearsandshall bemadebyway ofdeductionfromtheEmployee's salary.
27.4 Acontracting-out certificate isnot in forcein respect oftheAppointment.
28 DATA PROTECTION
28.1 TheEmployee confirmshe hasread andunderstoodtheCompany'sdataprotectionpolicy,acopy ofwhichiscontained intheStaff.The Companymaychangeits dataprotectionpolicyatanytimeandwillnotifyemployees in writingofany changes.
28.2 TheEmployee shallcomplywiththedataprotectionpolicywhenprocessingpersonaldatainthecourseofemploymentincludingpersonaldatarelatingtoanyemployee,customer, client,supplier or agent oftheCompany.
28.3 TheEmployee consentsto theCompany processingdata relatingto theEmployee forlegal, personnel,administrativeandmanagement purposesandinparticular totheprocessingof anysensitivepersonaldata (asdefinedinthe DataProtection Act1998) relatingtotheEmployee, including,asappropriate:
(a) informationabout theEmployee'sphysicalor mentalhealthorcondition inordertomonitor sickleaveandtake decisionsastothe Employee'sfitnessforwork;
(b) theEmployee's racialorethnicorigin orreligiousorsimilar informationinorder to monitorcompliancewithequalopportunitieslegislation;
(c) informationrelatingtoany criminalproceedingsin which theEmployeehasbeen involvedforinsurancepurposes andinorder tocomplywithlegal requirementsandobligationstothirdparties; and
28.4 TheCompany maymakesuch informationavailable tothose whoprovideproducts or servicestotheCompany (suchasadvisersand payrolladministrators),regulatoryauthorities, potentialorfutureemployers, governmentalorquasi-governmentalorganizations andpotentialpurchasersof theCompanyorthe businessinwhichthe Employeeworks.
28.5 TheEmployee consentsto thetransfer ofsuch informationto anyGroup Companyand theCompany's businesscontacts outsidethe EuropeanEconomic Areain orderto furtherits businessinterests even wherethe countryor territoryin questiondoesnotmaintain adequatedataprotectionstandards.
29 COLLECTIVE AGREEMENTS
There isnocollective agreement whichdirectlyaffects theAppointment.
30 RECONSTRUCTION ANDAMALGAMATION
IftheAppointment isterminatedatany timebyreasonof anyreconstructionoramalgamation oftheCompany,whetherbywindinguporotherwise,and theEmployeeisofferedemploymentwith anyconcernorundertaking involvedinorresulting fromthereconstructionor amalgamationonterms which(consideredintheirentirety) arenolessfavourable toanymaterialextent thanthetermsofthisagreement,the Employeeshallhaveno claimagainsttheCompanyoranysuchundertaking arising outoforconnectedwiththetermination.
31 NOTICES
31.1 Anotice giventoapartyunderthis agreementshallbein writinginthe Englishlanguageandsigned byoronbehalf ofthepartygiving it.Itshall bedeliveredbyhand orsenttothepartyattheaddress giveninthisagreement orasotherwise notifiedinwritingto theotherparty.
31.2 Anysuchnotice shall bedeemedto havebeenreceived:
(a) ifdelivered byhand,atthe timethenotice isleftattheaddress orgivento theaddressee;
(b) inthe caseofpre-paidfirst classUKpost orothernextworking daydeliveryservice,at 9.00amonthe secondbusinessdayafter postingorat thetimerecorded bythedelivery service;or
(c) inthe caseofpre-paidairmail, 9.00amonthe fifthBusinessDayafter postingorat thetimerecordedby thedeliveryservice; or
31.3 Anotice shallhaveeffectfromtheearlier ofitsactualor deemedreceiptbythe addressee.Forthepurposeof calculatingdeemedreceipt:
(a) allreferences totimeareto localtimeintheplaceof deemedreceipt;and
(b) ifdeemed receiptwouldoccuronaSaturdayor Sunday orapublic holidaywhenbanksare notopenforbusiness, deemedreceiptisat9.00 amonthe next businessday.
31.4 Thisclause doesnotapply tothe serviceofany proceedings orotherdocumentsinany legalaction.
32 ENTIRE AGREEMENT
32.1 Thisagreement andanydocument referredto init constitutesthewhole agreementbetweentheparties(and inthecaseoftheEmployer,asagent foranyGroupCompanies) andsupersedesallpreviousdiscussions,correspondence,negotiations,arrangements,understandings andagreementsbetweenthem.
32.2 Eachparty acknowledgesthat inenteringintothis agreementithasnotreliedon andshallhaveno remedyinrespectofanyPre-ContractualStatement.
32.3 Eachparty agreesthat itsonly liabilityin respectof thoserepresentations andwarranties thatare setout inthis agreement(whether madeinnocently ornegligently) shallbeforbreachof contract.
32.4 Nothinginthis agreement shalllimit orexcludeanyliabilityforfraud.
33 VARIATION
Novariationoragreedterminationof thisagreement shallbeeffective unlessit isin writingandsignedby theparties(ortheir authorizedrepresentatives).
34 COUNTERPARTS
This agreementmay beexecuted inany numberof counterparts,each ofwhich, whenexecuted anddelivered, shallbe anoriginal, andall thecounterpartstogethershallconstituteoneand thesameinstrument.
35 THIRD PARTYRIGHTS
Nopersonotherthan aparty tothisagreement mayenforceanyof itsterms.
36 GOVERNINGLAWAND JURISDICTION
36.1 Thisagreement andany disputeor claimarisingoutoforinconnectionwithitoritssubjectmatterorformation(includingnon-contractualdisputesorclaims)shallbegovernedby andconstruedinaccordancewithScottishlaw.
36.2 Theparties irrevocablyagree thatthe courtof Scotlandshall haveexclusive jurisdictiontosettleanydisputeorclaimthatarisesoutoforinconnectionwiththisagreementorits subjectmatterorformation(includingnon- contractualdisputesor claims).
This documenthas beenexecuted asadeedand isdeliveredandtakes effectonthedatestatedat thebeginning ofit.
Executed asadeedby MitoviePharmaEuropeLtd actingbyMrVinod Kaushal,adirector
/s/ Vinod Kaushal
Director
Signed asadeedbyMichaelHawthorne inthepresenceof:
/s/ Michael Hawthorne
[SIGNATUREOFEMPLOYEE]
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