Amendment to Employment Agreement, dated as of January 12, 2022, by and between Quotient Limited and Manuel O. Mndez
January 12, 2022
Manuel O. Méndez
Chief Executive Officer
Reference is made to the Employment Agreement between you and Quotient Limited (the Company), dated as of February 23, 2021 and as amended June 7, 2021 and October 5, 2021. This will confirm that with the approval of the Companys Board of Directors, you and the Company have agreed to amend the Employment Agreement by deleting Sections 2.4.1, 2.4.5, 2.4.6, 2.4.7, 2.4.8, 2.4.11, deleting the one before last paragraph relating to reimbursement of relocation expenses of the letter amendment dated October 5, 2021, and adding the following:
To defray certain of the costs incurred and to be incurred by you in relocating from the United States to Switzerland at the Companys request, you shall be entitled to a relocation allowance in the aggregate maximum amount of CHF 1262536, of which CHF 217200 will be payable if you acquire a primary residence in Switzerland by March 31, 2022. The relocation allowance is payable net of deductions for social security costs and taxes. You acknowledge and agree that the Company previously has paid directly or reimbursed you for relocation-related expenses in the aggregate amount of CHF 1000836, which amounts will be credited against the relocation allowance described above. The Company will pay you CHF 44500 on account of your relocation allowance on or before January 31, 2022 and will pay the balance of the relocation allowance (which will be CHF 217,200) when you acquire a primary residence in Switzerland (only if such primary residence is acquired by you on or before March 31, 2022). You further acknowledge and agree that except for the relocation allowance provided for above, the Company will have no obligation to pay or reimburse any relocation-related expenses incurred by you.
Please confirm your agreement to the foregoing by executing this letter in the space provided below and returning it to me.
|Heino von Prondzynski|
|Chairman of the Board|
Acknowledged and agreed:
|Manuel O. Méndez|
Registered in Jersey, Channel Islands, number 109886
Registered office 28 Esplanade, St Helier, Jersey, JE2 3QA, Channel Islands
Correspondence address - PO Box 1075, JTC House, 28 Esplanade, St Helier, Jersey, JE4 2QP, Channel Islands