This CONTRACT OF EMPLOYMENT (the “Contract”) is made
organization number 926 089 862
(hereinafter referred to as the "Company")
Tom Einar Jensen
(hereinafter referred to as the "Employee")
The parent company of the Freyr-group is FREYR Battery (the “Parent Company”), a corporation in the form of a public limited liability company (société anonyme) incorporated under the laws of Luxembourg, with registered office at 412F, route d’Esch, L-2086 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés) under number B 251199.
Freyr AS (the “Company”), company registration number 926 089 862, is a subsidiary of the Parent Company and the main operating company for the Group in Norway.
The Parent Company and the subsidiaries are referred to as the “Group”.
From the date of the Second Closing (as defined in that certain Business Combination Agreement entered into on 29 January 2021) (the “Commencement Date”), the Employee shall be an employee of both the Parent Company and the Company. To reflect the division of work performed for the Parent Company and for the Company, the Employee will enter into separate but interlinked contracts of employment with both the Parent Company and the Company. In sum these employment contracts will constitute a full-time engagement for the Group. At the Commencement Date, the split will be 75% employment for the Company and 25% employment for the Parent Company, which may be adjusted to reflect the situation from time to time.
Unless otherwise is explicitly stated or follows from the context, the rights and obligations of the Employee are described in this Contract to reflect the total engagement for the Group under both contracts. As an example, salary and benefits are described on a combined and aggregate level as the sum of both employment contracts, which shall be borne by the Parent Company and the Company according to the prevailing split of employment between the two companies at the relevant time.
The Employee, the Parent Company and the Company shall in good faith manage the split of the employment contracts so that the employment relationship and the rights and duties of the Employee are handled as one holistic engagement. The Parent Company and the Company shall carry out their functions as employer in a coordinated manner towards the Employee, and the Employee shall carry out his functions in a coordinated manner towards the Parent Company and the Company.