Common use of Functions and Responsibilities Clause in Contracts

Functions and Responsibilities. 1. The Executive agrees to serve, at no additional remuneration, in such other executive capacities and to assume such responsibilities and perform such duties consonant with his position as an executive of the Company as the Company may require and assign to him from time to time, including with subsidiaries of the Company. In accordance with this Section, the Executive shall serve as the Managing Director of the Company’s wholly-owned subsidiary Stendal Pulp Holding GmbH (“SPH”). 2. As the Chief Operating Officer of the Company, the Executive will be responsible for all of the company’s activities related to fiber management, pulp manufacturing, and human resources. The Executive is responsible to develop strategic operating plans and processes to increase overall efficiency and safety of all facilities. In general terms he is responsible for cost effective production and developing plans to maximize efficiency at all locations. As the Managing Director of SPH, the Executive will be responsible for the representation of the Company to third parties. 3. The Executive shall carry out the duties and responsibilities of his position as Chief Operating Officer of the Company and Managing Director of SPH in accordance with all applicable laws, the articles and by-laws of the Company, the articles of association of SPH and the directives of the board of directors of the Company and the shareholder of SPH. 4. The Executive shall be responsible to and shall report to the Chief Executive Officer and Chairman of the Company. 5. The Executive’s office location is Berlin, Germany.