Common use of Advisory Role Clause in Contracts

Advisory Role. (a) If a Member of the Extended Founder Team no longer acts as a member of the Executive Committee (e.g. due to de-selection or to a termination of the employment agreement), the Company shall offer to such Member of the Extended Founder Team a timely unlimited agreement for an appropriate advisory role within the Company or any Group company. If the respective Member of the Extended Founder Team accepts such role and signs the advisory agreement, he shall continue to be bound by this Agreement. Otherwise, if he refuses the advisory role, such refusal shall be deemed being an Individual Sunset Event in accordance with Art. 7.3. (b) If MH and/or MM do not act as Co-CEO or senior executive at the Company anymore, the Parties undertake to exercise their Shareholders’ rights and/or Board Members’ rights in a way to secure an observer seat on the Board to each of them, provided that their individual sell-down of Class B Shares since the date immediately following the IPO does not exceed 35 % (i.