Nautilus 2005 Annual Report Download - page 146

(d) In the event that Employee is discharged without cause as defined herein, Company shall provide the following relocation benefits to
Employee: packaging and shipment of household goods from Colorado to Germany, and airfare for Employee and his family from Colorado to
Germany.
9. Return of Documents . Employee understands and agrees that all equipment, records, files, manuals, forms, materials, supplies, computer
programs, and other materials furnished to the Employee by Employer or used on Employer’s behalf, or generated or obtained during the
course of his/her employment shall remain the property of Employer. Upon termination of this Agreement or at any other time upon the
Company’s request, Employee agrees to return all documents and property belonging to the Company in his possession including, but not
limited to, customer lists, contracts, agreements, licenses, business plans, equipment, software, software programs, products, work-in-progress,
source code, object code, computer disks, Confidential Information, books, notes and all copies thereof, whether in written, electronic or other
form. In addition, Employee shall certify to the Company in writing as of the effective date of termination that none of the assets or business
records belonging to the Company is in his/her possession, remain under his control, or have been transferred to any third person.
10. Confidential Information/Non-Competition . By virtue of his employment, Employee will have access to confidential, proprietary and
trade secret information, the ownership and protection of which is very important to the Company. Employee hereby agrees to enter into a
Business Protection Agreement with the Company concurrent with his entry into this Agreement. The Business Protection Agreement is
attached as Exhibit A hereto.
11. Release of Claims . As a precondition to receipt of the severance provided in Section 7(b) or 8(a) of this Agreement, Employee
acknowledges and understands that he must sign a standard Waiver and Release of Claims Agreement in a form acceptable to the Company and
generally then in use for employees who are terminated. Employee understands that he will not be entitled to receive any payments under this
Agreement until he executes and delivers the Waiver and Release of Claims Agreement, and the revocation period set forth in the Waiver and
Release of Claims Agreement has run.
12. Assignment . This Agreement is personal, and is being entered into based upon the singular skill, qualifications and experience of
Employee. Employee shall not assign this Agreement or any rights hereunder without the express written consent of Employer which may be
withheld with or without reason. This Agreement will bind and benefit any successor of the Employer, whether by merger, sale of assets,
reorganization or other form of business acquisition, disposition or business reorganization.
13. Notices . Any Notice of Termination shall be in writing and shall be deemed to have been given or submitted (i) upon actual receipt if
delivered in person or by facsimile transmission with confirmation of transmission, (ii) upon the earlier of actual receipt or the expiration of
two (2) business days after sending by express courier (such as U.P.S. or Federal Express), and (iii) upon the earlier of actual receipt or the
expiration of seven (7) business days after mailing if sent by registered or certified mail, postage prepaid, to the parties at the following
addresses:
4