MANAGING DIRECTOR'S SERVICE AGREEMENT
Yale Industrial Products GmbH, Velbert
Represented by the shareholder, Duff Norton Company, Inc. USA
(hereinafter called the "Company")
Mr. Wolfgang Wegener
Winzermarkstrabe 85, 45529 Hatigen
(hereinafter called "Managing Director")
For approval and adjustment of the service agreement concluded between the Managing Director and the sole
shareholder in 1986 including the embodied benefit commitment the parties declare the following provisions
legally binding as content of the existing agreement between them.
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Mr. Wegener has been appointed as Managing Director of the Company with effect from January 1, 1986. His
employment is subject only to the terms and conditions hereinafter set forth, which replace all stipulations of the
former employment agreement mutually cancelled herewith.
(1) The Managing Director shall place his working capacity exclusively at the disposal and services of the
Company and shall promote the interest of the Company to the best of his ability. In conformity with the task
incumbent upon him as "Geschaftsfuhrer, he shall, if necessary, be at the disposal of the Company also outside
normal business hours.
(2) For the duration of this Agreement the Managing Director shall not engage in any competitive business nor in
any kind of commercial business either for his own account or for the account of a third party. He shall without
prior written consent in writing of the Company not exercise any other professional activity nor participate,
directly or indirectly, in any other enterprise or in any other business, nor support any other enterprise or business
in any other way, either with or without remuneration. Engagements of the Managing Director in other companies
of the Duff Norton Group, especially as their Managing Director, are expressively excluded of this.
(3) Due to the above prohibition of any spare time work and competition, the Managing Director sh