OFFICERS OF THE JOINT COMPANY

The Chief Executive Officer of the Joint Company shall be designated the President and shall be a nominee of Foreign Company. The duties and responsibilities of the President, without enlarging or restricting devolving upon him by the law of_______(country of incorporation) , shall be to administer all the affairs of the Joint Company, subject to subparagraph (b) of this paragraph 6.

The Joint Company shall also have an executive officer designated Executive Vice-President-Production, the occupant of which shall be a nominee of American Company. Without limiting and duties and responsibilities of the President as outlined in subparagraph (a) above, the principal responsibilities of the Executive Vice-President-Production shall be to superintend all technical aspects of production, including, without limiting the generality of the foregoing, the use of industrial property, technical data and assistance, inputs, machinery and equipment, training of technicians; maintenance of machinery; and the performance of all other duties necessary to meet the production standards required of the Joint Company.

7. LICENSE FROM AMERICAN COMPANY
Upon the incorporation of the Joint Company, American Company agrees to execute licensing agreements in the form of the documents appended hereto as Exhibit D, granting to the Joint Company all rights in American Company's products, patents, technology, know-how, trademarks and trade names necessary to permit the Joint Company to manufacture and market____________within_______________.

BOOKS

Proper books of account shall be kept by the Joint Company and shall be free accessible to representatives of both parties hereto at all reasonable times. The auditors of the Joint Company shall be appointed at the annual meeting of shareholders by unanimous vote.

ASSIGNMENTS

American Company and Foreign Company agree that neither will sell, transfer, assign, mortgage, pledge or otherwise encumber or deal with any or all shares of the capital stock of the Joint Company without the prior written consent of the other, except as in hereafter provided and provided that this provision shall not apply to transfer of directors' qualifying shares so long as the beneficial ownership of such shares is retained by American Company or Foreign Company as the case may be.

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<== попередня сторінка	\|	наступна сторінка ==>
MANAGEMENT OF JOINT COMPANY	\|	BUY/SELL

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