EXHIBIT 10.17

 

 

                                English Summary

                                ---------------

 

                 Principal Terms of Braun Employment Agreement

                 ---------------------------------------------

 

 

1.   AUTHORITY OF REPRESENTATION AND AUTHORITY OF EXECUTIVE MANAGEMENT

 

     As managing director you will be in charge of the business of the Company

     subject to the statutory provisions, the Company's articles of association

     as well as the terms of this agreement.

 

     You are authorized, together with another managing director, attorney-in-

     fact or other authorized signatory for the Company, to represent and sign

     for the Company.

 

2.   CONDITIONS OF EMPLOYMENT

 

     For your employment services, the attached Terms of Employment for Managing

     Directors apply.

 

3.   COMPENSATION

 

     Your compensation consists of a yearly salary of not less than DM 231,000

     as well as an annual bonus to be determined on a yearly basis.

 

     Your annual salary will be paid to you in twelve equal monthly payments of

     DM 19,250 gross.

 

     The amount of your annual bonus of up to __% of your annual salary for

     1996/97 will be determined by the Compensation Committee of the Board of

     Directors of Rofin-Sinar Technologies Inc.

 

     Services you provide to Rofin-Sinar Technologies Inc. are compensated for

     with the compensation payable to you hereunder.

 

4.   EQUITY INCENTIVE PLAN

 

     In addition to your compensation you will receive, as stipulated in the

     prospectus of August 5, 1996, 36,000 stock options at the initial public

     offering price.  Details therefor will be determined by the Compensation

     Commitee of the Board of Directors of Rofin-Sinar Technologies Inc.

 

5.   CONFIDENTIALITY AND DUE CARE

 

     You will, in your managerial function, exercise the due care of a

     conscientious manager and not disclose any confidential information of the

     Company even after this agreement has terminated.

<PAGE>

 

                                       2

 

 

6.   COMPETITION PROHIBITION

 

     You are not allowed, without the explicit approval of the Board of

     Directors of Rofin-Sinar Technologies Inc., to transact any business for

     your account nor for any  subsidiary of the Company for your account or for

     another's account.  You are also not allowed to have an interest as a

     personally liable partner in another business.

 

     To exercise any other sideline or spare time occupation for compensation is

     also subject to the approval of the Board of Directors of Rofin-Sinar

     Technologies Inc.  Also, acceptance of any supervisory board positions and

     similar such office positions requires prior approval by the Board of the

     Directors.

 

7.   COMPANY CAR

 

     The Company provides you with a company car which you can also use in your

     private time.  The Company will pay for maintenance, repairs, and

     insurance. The automobile tax will have to be paid by you.

 

8.   SERVICE CREDIT

 

     The years of service spent working for Laser Optronic GmbH will be credited

     toward the years of your services for the Company.

 

9.   PENSION/SURVIVORS PENSION

 

     For your Pension/Survivors Pension the provisions currently in effect

     apply.

 

10.  TERM AND TERMINATION OF AGREEMENT

 

     This agreement is made for an indefinite term and can be terminated by

     either party upon a 2-year prior notice of termination to the end of a

     business year, with the first possible termination date being September 30,

     2000.

 

     The employment agreement ends without any notice of termination at the end

     of the business year in which you will be 65 years of age.

 

     The legal statutory provisions of (S) 38 Limited Liability Company Law with

     regard to revocation of the appointment of a manager remain in effect.

 

11.  NON-COMPETITION CLAUSE

 

     You agree that for six months after termination of your employment with the

     Company not to start a business, engage in any business or have an interest

     in the field of laser material processing, nor enter into employment with a

     company involved

<PAGE>

 

                                       3

 

     in such business.  During these six months you are entitled to, subject to

     (S)(S) 74 ff Commercial Code, to receive half of your salary that you last

     received from us.

 

12.  INVENTIONS

 

     Any inventions or improvements made by you during your activities for the

     Company are property of the Company.

 

13.  RETURN OF RECORDS

 

     Upon your resignation from the firm, you will return to the Company any and

     all records, documents, books, etc. that are in your possession.  The same

     applies to all business-related written notes.