Document:

EX-10.1

Exhibit 10.1

FOR IMMEDIATE RELEASE

Mymetics Corporation Acquires Preventive Malaria Vaccine From

Pevion Biotech AG (Switzerland)

Successful Phase I and II Clinical Trials In Switzerland and the UK

Results praised by an eminent member of the Pasteur Institute and of the

malaria board of the Bill and Melinda Gates Foundation

Nyon, Switzerland (May 19, 2008) —Mymetics Corporation (OTCBB: MYMX), a vaccine development
company, made the acquisition of a preventive malaria vaccine from Pevion Biotech AG, a
privately-held biotech company based in Switzerland.

The Pevion vaccine has successfully completed human clinical trial phases I and II in Switzerland
and in the U.K., respectively, with only two of four contemplated antigens. The clinical trials
are being conducted in connection with the application for approval of this vaccine under the
European Union regulations. A Phase 1b clinical trial has been launched in Tanzania to extend the
protocol to children and teenagers in a naturally endemic area. A new cycle of phase I and II
clinical trials with all four antigens is scheduled thereafter.

“We are pleased with this acquisition which allows us to start feeding a pipeline of products for
the future, in addition to our preventive HIV/AIDS vaccine,” said Christian J. F. Rochet, CEO and
President of Mymetics Corporation. “There is a pressing need within the global community for a
malaria vaccine. Annually, there are between three hundred and five hundred million people
suffering from malaria with a mortality rate of approximately two million, mostly children.”

“The clinical trial results proved very promising,” commented Sylvain Fleury, PhD, Mymetics CSO and
director. “Our vaccine philosophy is to focus the immune response on relevant regions of the
parasite proteins by designing specific peptides, while irrelevant and immunodistractive parts have
been removed. We also believe that the vaccine efficacy will be improved by targeting both parasite
forms during the infectious cycle, instead of the classical strategy to target only one of the
maturation stages.”

Said Professor Odile Mercereau-Puijalon, of the Pasteur Institute in Paris, a member of the malaria
scientific board of the Bill and Melinda Gates Foundation, “I have reviewed the body of data
provided with great interest. To summarize my conclusion in a few words, I am very impressed by the
thoughtful design of the synthetic antigen and of the delivery system procured by the IRIVs
(Virosomes) developed in collaboration with high profile academic partners and by the very exciting
performance of the candidates in human trials. These are the most promising phase 1 data in humans
I have seen so far. The PEV 301 and PEV 302 (antigens) are safe, highly immunogenic and very

 

 

importantly -and uniquely to date in malaria vaccine development- induce a consistent immune
response in the volunteers with a strong correlation of all immune assays explored. These are
highly promising prospects for the future and I strongly encourage you to move ahead and proceed to
safety, immunogenicity and efficacy trials in African children.”

“Apart from the impressive clinical trial results,” commented Ernst Lübke, the Company’s CFO and
director, “the Pevion vaccine acquisition, from a shareholder perspective, exposes Mymetics to very
little risk because half of the paid acquisition price is related to an upcoming milestone payable
in 2009 and 2010. This is a deal that makes sense medically, economically, and institutionally.”

About Mymetics Corporation

Mymetics is a biotechnology company developing prophylactic vaccines that combine innovative
antigen engineering, minimal human protein homologies and virosome technology, a technology
licensed from Pevion Biotech. Mymetics’ vaccine approach focuses on eliciting immune protection
capable of interfering with late events of pathogen transmission, coupled, most importantly, with
early events of pathogen transmission, such as preventing the entry across the mucosal tissues that
are very often the primary entry door of most of the pathogens. Virosomes are lipidic vesicles
derived from influenza virus membrane that are non-replicative carriers that can be coupled with
other virosome-based vaccines and possess intrinsic adjuvant properties. The Company’s disease
focus presently includes malaria and the human immunodeficiency virus.

For further information regarding the Company and its mucosal approach, please visit
www.mymetics.com.

About Pevion Biotech

Pevion Biotech is a privately owned Swiss biopharmaceutical company focusing on the preclinical and
clinical development of vaccines to prevent/treat infectious diseases and cancer. For its vaccine
development, the company uses a virosome technology, which is already validated by two registered
and marketed vaccines. The combination of this virosome technology with novel innovative antigens
substantially reduces the known risk in biotechnological development and permits the targeting of
diseases where so far no appropriate treatment is available. Pevion Biotech targets indications,
which represent major medical needs, including prophylactic or therapeutic vaccines against breast
cancer, candidiasis, RSV, malaria and hepatitis C. Three virosome-based vaccine candidates are
currently in clinical development.

Safe Harbor Forward-Looking Statements

Statements contained in this release that are not strictly historical are “forward-looking
statements.” Such forward-looking statements are sometimes identified by words such as “intends,”
“anticipates,” “believes,” “expects” and “hopes.” The forward-looking statements are made based on
information available as of the date hereof, and the Company assumes no obligation to update such
forward-looking statements. Editors and investors are cautioned that such forward-looking
statements involve risks and

 

 

uncertainties that could cause the Company’s actual results to differ materially from those in
these forward-looking statements. Such risks and uncertainties include but are not limited to
demand for the Company’s products and services, our ability to continue to develop markets, general
economic conditions, our ability to secure additional financing for the Company and other factors
that may be more fully described in reports to shareholders and periodic filings with the
Securities and Exchange Commission.

For further information:

The Investor Relations Group

212-825-3210

Investor Relations:

Conrad F. Mir

conrad@investorrelationsgroup.com

Public Relations:

Janet Vasquez

janet@investorrelationsgroup.com

Hayden Lynch

hayden@investorrelationsgroup.comEX-10.1

EXHIBIT 10.1

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of May 13, 2008 (the
“Effective Date”), by and between Dana Holding Corporation, a Delaware corporation (the “Company”)
and James A. Yost (the “Executive”) (the Company and the Executive, collectively, the “Parties,”
and each, a “Party”). In addition to the terms defined elsewhere herein, initial capitalized terms
are defined in Section 30.

WITNESSETH:

     WHEREAS, the Executive has agreed to assume the position and duties of Executive Vice
President and Chief Financial Officer of the Company on and after May 22, 2008 for a term as
specified herein;

     WHEREAS, the Company wishes to employ the Executive as its Executive Vice President and its
Chief Financial Officer;

     WHEREAS, the Executive has agreed to assume the position and duties of Executive Vice
President and Chief Financial Officer of the Company for the term specified below; and

     WHEREAS, the Executive and the Company desire to enter into this Agreement.

     NOW, THEREFORE, in consideration of the premises and of the covenants and agreements set forth
herein and for other good and valuable consideration, the sufficiency and receipt of which are
hereby acknowledged, the Company and the Executive agree as follows:

	 	1.	 	Employment. 

	 	(a)	 	The Company will employ the Executive and the Executive will be
employed by the Company upon the terms and conditions set forth herein.
	 
	 	(b)	 	The employment relationship between the Company and the
Executive will be governed by the general employment policies and practices of
the Company, including without limitation, those relating to the Company’s
Standards of Business Conduct, confidential information and avoidance of
conflicts, except that when the terms of this Agreement differ from or are in
conflict with the Company’s general employment policies or practices, this
Agreement will control.

	 	2.	 	Term. Subject to termination under Section 9, the Executive’s
employment will be for a term of 36 months commencing on the Effective Date (the
“Initial Employment Term”). At the end of the Initial Employment Term and on each of
the next two succeeding anniversaries of the Effective Date, the Employment Term will
be automatically extended by an additional 12 months (each, a “Renewal Term”), unless
not less than 30 days prior to the end of the Initial Employment Term or any Renewal
Term, either the Executive or the Company

 

 

	 	 	 	has given the other written notice (in accordance with Section 21) of non-renewal.
The Executive will provide the Company with written notice of his intent to
terminate employment with the Company at least 30 days prior to the effective date
of such termination; the Company will provide the Executive with written notice of
its intent to terminate the Executive’s employment with the Company at least 30 days
prior to the effective date of such termination, unless the termination is for
Cause.
	 
	 	3.	 	Position and Duties of the Executive.

	 	(a)	 	The Executive will have such duties, responsibilities and
authority as may be assigned to the Executive Vice President and Chief
Financial Officer from time to time by the Board of Directors of the Company
(the “Board”), any committee or person delegated by the Board, the Executive
Chairman of the Board of Directors (the “Chairman”) or the Chief Executive
Officer to whom the Executive will report. The Executive’s responsibilities
are anticipated to include (but not be limited to) responsibility for financial
controls; financial information; treasury management; defining the Company’s
financial goals; driving financial performance through the product lines and
business units; assuring access to capital markets; and communicating with
industry analysts, institutional asset managers and appropriate regulatory
agencies and auditors.
	 
	 	(b)	 	So long as such activities do not involve a breach of Section
3(a) or Sections 11, 12, 13 or 14 and do not significantly interfere with the
performance of his duties hereunder, the Executive may participate in any
governmental, educational, charitable or other community affairs or non-profit
organizations during the Employment Term and, subject to the prior approval of
the Board in its reasonable discretion, serve as a member of the governing
board of any such organization. The Executive may not accept any position
during the Employment Term with a for-profit enterprise without the prior
approval of the Board in its reasonable discretion. The Executive may retain
all fees and other compensation from any such service, and Company shall not
reduce his compensation by the amount of such fees.

	 	4.	 	Compensation.

	 	(a)	 	Base Salary. During the Employment Term, the Company
will pay to the Executive an annual base salary of $600,000.00 (the “Base
Salary”), which Base Salary will be payable at the times and in the manner
consistent with the Company’s general policies regarding compensation of the
Company’s senior executives. The Base Salary will be reviewed periodically by
the Compensation Committee and may be increased (but not decreased, except for
across-the-board reductions generally applicable to the Company’s senior
executives) from time to time in the Compensation Committee’s sole discretion.

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	 	(b)	 	Sign-on Incentive. The Company will pay a sign-on
incentive to the Executive in the amount of $250,000.00 in the form of cash, to
be paid within 7 days from the date he commences employment pursuant to this
Agreement.
	 
	 	(c)	 	Incentive Compensation. The Executive will be eligible
to participate in any short-term and long-term incentive compensation plans,
annual bonus plans and such other management incentive programs or arrangements
of the Company approved by the Board or the Compensation Committee that are
generally available to the Company’s senior executives, including, but not
limited to, the STIP, and the LTIP.

	 	(i)	 	Annual Performance Bonus. During
the Employment Term, the Executive will be eligible to participate in
the 2008 STIP, with a 2008 threshold payout rate of 37.5% of Base
Salary, a target bonus of 75% of Base Salary and a maximum payout
rate of 187.5% of Base Salary (an “Annual Bonus Award”). The
Executive will be entitled to a full year bonus opportunity for 2008
without pro-ration.
	 
	 	(ii)	 	Long-Term Performance Bonus. During
the Employment Term, the Executive will be eligible to participate in
any long-term incentive award program. The initial LTIP Award to the
Executive shall be (A) 142,458 stock options valued in accordance with
the Black-Scholes method at a value of $5.37 per share and (B) a
threshold payout of 31,225 performance shares valued at $12.25 per
share, a target payout of 62,449 performance shares valued at $12.25
per share and a maximum payout amount of 156,123 shares valued at
$12.25 per share. Future LTIP award opportunities shall be based upon
255% of the value of the Executive’s then existing base salary, the
value of such award to consist one-half in stock options and one-half
in performance shares. LTIP awards are determined and granted by the
Compensation Committee.
	 
	 	(iii)	 	Incentive compensation, including Annual Bonus
Award and any long-term incentive award, if earned, will be paid when
incentive compensation is customarily paid to the Company’s senior
executives in accordance with the terms of the applicable plans,
programs or arrangements.
	 
	 	(iv)	 	Pursuant to the Company’s applicable incentive
or bonus plans as in effect from time to time, the Executive’s
incentive compensation during the term of this Agreement may be
determined according to criteria intended to qualify as
performance-based compensation under Section 162(m) of the Code.

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	 	(v)	 	At the end of the Initial Employment
Term and at the end of each Renewal Term (if any) including any
termination of employment described in Sections 9(b), (c) and (d)
below, all unvested LTIP as described in this subparagraph 4(c) shall
be deemed fully vested and earned by the Executive based on corporate
performance and shall be paid to the Executive at such dates and
amounts as are in accordance with the terms and provisions of the
LTIP.

	 	(d)	 	Buyout. Within 7 days from the date the Executive
commences employment pursuant to this Agreement, the Executive will receive (i)
a cash payment of $401,440, (ii) 85,781 Dana stock options immediately fully
vested and (iii) 26,753 shares of Dana common stock for the purpose of making
the Executive whole from forfeited compensation from his prior employer
consisting of accrued 2008 bonus, remaining 2006 special bonus and the cash-out
of existing options and Restricted Stock Units.
	 
	 	(e)	 	Change in Control. In the event of a Change in
Control, any unvested Option Shares or Performance Shares shall immediately
vest and become exercisable. For purposes of this Agreement, the Nonqualified
Stock Option Agreement and the Performance Shares Agreement, “Change in
Control” shall have the meaning provided in the 2008 LTIP. The terms of this
Agreement will supersede and take precedence over any terms of the Nonqualified
Stock Option Agreement and the Performance Shares Agreement to the extent the
terms of the Nonqualified Stock Option Agreement and the Performance Shares
Agreement are contradictory or inconsistent with the terms of this Agreement.
The Executive shall be immediately eligible for coverage, at his option, under
any Change of Control Plan when approved by the Board of Directors.

	 	5.	 	Benefits. 

	 	(a)	 	During the Employment Term, the Company will make available to
the Executive, subject to the terms and conditions of the applicable plans,
participation for the Executive and his eligible dependents in: (i)
Company-sponsored employee welfare benefit plans (including health care,
dental, life insurance and disability plans), programs and arrangements (the
“Employee Plans”) and such other usual and customary benefits in which senior
executives of the Company participate from time to time, provided however, that
in lieu of eligibility for relocation assistance due to relocation hardship,
the Executive will be provided a car and driver service from Bloomfield,
Michigan to Toledo, Ohio as reasonably necessary and the use of a Company guest
house from time to time and at such times as the Executive may request (subject
to availability), and (ii) such fringe benefits and perquisites as may be made
available to senior executives (including but not limited to inclusion in any
future change in control plan or agreement adopted by the Company and immediate
eligibility for a Perquisite Allowance of $35,000.00), provided

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	 	 	 	however, that eligibility for D & O indemnity insurance and other benefits
and perquisites available from plans and programs provided specifically to
other executive officers will be immediate upon the beginning of his
employment with the Company in accordance with the specific terms of such
plans and programs. At the Executive’s election, he may “opt out” of life,
disability, health care and dental coverage for the Executive and his family
and instead receive the “opt out” payment provided by the Company’s plan.
	 
	 	(b)	 	The Executive acknowledges that the Company may change its
benefit programs from time to time which may result in certain benefit programs
being amended or terminated for its senior executives generally provided,
however, that no such change would result in a proportionately greater
reduction in the rights or benefits to the Executive as compared with any other
executives of the Company.
	 
	 	(c)	 	The Company will provide the Executive with a supplemental
retirement benefit in the form and amounts as set forth in the Supplemental
Executive Retirement Plan (the “SERP) attached hereto.
	 
	 	(d)	 	The Executive shall receive an executive physical examination
at the Company’s sole cost to occur in 2008 at either the Mayo Clinic, the
Cleveland Clinic or the like as the Executive may determine. Thereafter, the
Executive will be immediately eligible for any executive physical plan or
program subsequently adopted by the Company.
	 
	 	(e)	 	The Company will reimburse the Executive for the reasonable
legal fees and expenses incurred by the Executive in connection with
negotiation and documentation of this Agreement and the Plan attached hereto.
	 
	 	(f)	 	To the extent the Executive must include as compensation the
value of the car and driver service and the use of the Company guest house
described in subparagraph (a) above, such compensation shall be “grossed up” to
the Executive to account for the income taxes payable by the Executive with
respect to such value.

	 
	 	(g)	(i)	 	To the extent any compensation received under the
Nonqualified Stock Option Agreement, the Performance Shares Agreement, or under
this Agreement would be subject to the tax imposed by Section 4999 of the code
(the “Excise Tax”), the Company will pay Executive an additional amount (the
“Gross-Up Payment”) such that the net amount retained by Executive shall be
equal to the compensation Executive would have received had there been no
Excise Tax imposed.
	 
	 	 	(ii)	 	Upon any payment to Executive in connection
with a Change in Control or a termination of this Agreement, the
Company shall, at the

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	 	 	 	Company’s expense, cause an independent public accounting firm mutually
agreeable to the Company and Executive to determine whether the payment
would be subject to any Excise Tax and if so, the amount of the Gross-Up
Payment. Such accounting firm shall provide detailed supporting
calculations to both the Company and the Executive within 15 business
days after receiving notice that such payments have been made (or at
such earlier time as requested by the company). If the accounting firm
determines that no Excise Tax is payable by Executive, the accounting
firm shall provide Executive with a written opinion that the failure to
report an excise tax on Executive’s applicable federal income tax return
would not result in the imposition of any penalty. In the event the
Excise Tax is subsequently determined to be less than the amount taken
into account in calculating the Gross-Up Payment, Executive shall repay
to the Company, at the time that the amount of such reduction in Excise
Tax is finally determined, the portion of the Gross-Up Payment
attributable to such reduction. In the event that the Excise Tax is
determined to exceed the amount taken into account (including by reason
of any payment the existence or amount of which cannot be determined at
the time of the Gross-Up Payment), the Company shall make an additional
Gross-Up payment to Executive in respect of such excess (plus any
penalty, interest of Excise Tax payable with respect to such excess) at
the time that the amount of such excess is finally determined, such that
Executive retains the same amount of compensation and benefits Executive
would have received had there been no Excise Tax imposed.
	 
	 	(iii)	 	The Company shall pay the Gross-Up Payment not
later than the fifth day following the date of termination of this
Agreement (or if there is no termination, the fifth day following the
date of the Change in Control); provided, however, that if the amount
of the Gross-Up Payment cannot be finally determined on or before such
day, the Company shall pay Executive on such day an estimate determined
in good faith by the Company of the minimum amount of such payment and
shall pay the remainder of such payment as soon as the amount thereof
can be determined but in no event later than the thirtieth day after
the date of termination (or the date of the Change in Control, as the
case may be).

	 	6.	 	Expenses. The Company will pay or reimburse the Executive for
reasonable and necessary business expenses incurred by the Executive in connection with
his duties on behalf of the Company in accordance with the policies, as may be amended
from time to time, or any successor policy, plan program or arrangement thereto and any
other of its expense policies applicable to senior executives of the Company.

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	 	7.	 	Vacation. In addition to such holidays, sick leave, personal leave and
other paid leave as is allowed under the Company’s policies applicable to senior
executives generally, the Executive will be eligible to participate in the Company’s
vacation policy in accordance with the Company’s policy generally applicable to senior
executives. The duration of such vacations and the time or times when they will be
taken will be determined by the Executive in consultation with the Executive Chairman
or Chief Executive Officer.
	 
	 	8.	 	Place of Performance. In connection with his employment by the
Company, the Executive will be based at the principal executive offices of the Company
in the greater Toledo, Ohio area (the “Place of Performance”). The Executive is not,
and shall not be, required to relocate his residence from Bloomfield, Michigan to the
greater Toledo, Ohio area as a condition of his employment.
	 
	 	9.	 	Termination. For purposes of this Section 9, no payment that would
otherwise be made and no benefit that would otherwise be provided upon a termination of
employment will be made or provided until such termination of employment is also a
“Separation from Service” (as determined in accordance with Section 409A of the Code).

	 	(a)	 	Termination by the Company for Cause or Resignation by the
Executive without Good Reason. If, during the Employment Term, the
Executive’s employment is terminated by Company for Cause, or if the Executive
resigns without Good Reason, the Executive will not be eligible to receive Base
Salary or to participate in any Employee Plans with respect to future periods
after the date of such termination or resignation, except that the Executive
shall have the right to receive accrued but unpaid cash compensation as
provided under this Agreement and any Employee Plan (including the SERP) in
accordance with the terms of this Agreement and such Employee Plan (including
the SERP) and applicable law.
	 
	 	(b)	 	Termination by the Company Without Cause or Resignation by
the Executive for Good Reason.
	 
	 	 	 	If, during the Initial Employment Term or any Renewal Term if the Employment
Term is extended, the Executive’s employment is terminated by the Company
without Cause or by the Executive for Good Reason, in full satisfaction of
the Executive’s rights and any benefits the Executive might be entitled to
under this Agreement, the Executive will be entitled to receive from the
Company:

	 	(i)	 	the Executive’s accrued, but unpaid, Base
Salary, Perquisite Allowance and vacation pay through the date of
termination of employment, payable in accordance with the Company’s
normal payroll practices and other benefits as provided under this
Agreement or any Employee Plan, including the SERP, all in

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	 	 	 	accordance with the terms of this Agreement or such Employee Plan
including the SERP and applicable law;
	 
	 	(ii)	 	continuation of his Base Salary and Perquisite
Allowance in effect immediately prior to the termination of his
employment, which payments will be paid to the Executive in equal
installments on the regular payroll dates under the Company’s payroll
practices applicable to the Executive at the time of termination for
the duration of the Payment Period, and each such payment will be a
separate payment and not one of a series of payments for purposes of
Section 409A of the Code;
	 
	 	 	 	Any obligation of Company to make any payment pursuant to Section
9(b)(ii) is conditioned upon the Executive first delivering to
Company a release in the form customarily used for the termination of
executives (the “Release”) within 30 calendar days after termination
of the Executive’s employment, with all periods for revocation
expired (the “Release Effective Date”);
	 
	 	(iii)	 	a pro rata payment of the Annual Bonus Award
at the Target payout rate under the then current bonus plan adopted by
the Compensation Committee, for the portion of the Company’s fiscal
year prior to the date of termination of his employment;
	 
	 	(iv)	 	Unvested LTIP awards shall fully vest and
be deemed earned by the Executive and shall be paid to the Executive in
accordance with Section 4(c)(v) above; and
	 
	 	(v)	 	continuation of life, disability, health and
welfare benefits at the levels in effect as of the Termination Date at
no additional cost to the Executive than that which was in effect as
of the Termination Date (subject to annual increases applicable to all
management employees) for a period of one year; providing that such
benefits shall be reduced to the extent comparable benefits are made
available to the Executive from a successor employer, and the
Executive shall be obligated to report such benefits to the Company.

	 	(c)	 	Termination by Death or Disability. If the Executive
dies or becomes Disabled during the Employment Term, the Executive’s employment
will terminate and the Executive or the Executive’s beneficiary or if none, the
Executive’s estate, as the case may be, will be entitled to receive from the
Company, the rights described in Section 9(b)(i), (ii), (iii) (but Annual Bonus
Award only through the termination of employment) and (iv).
	 
	 	(d)	 	Termination by Retirement. If following the expiration
of the Initial Employment Term or the applicable Renewal Term, the Executive or
the

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	 	 	 	Company elects not to extend the Employment Term for either the first
Renewal Term of the last Renewal Term, the Executive will be entitled to
receive from the Company the rights and benefits described in Section
9(b)(i), (iii) (but Annual Bonus Award only through the termination of
employment) and (iv).
	 
	 	(e)	 	No Mitigation Obligation. No amounts paid under
Section 9 will be reduced by any earnings that the Executive may receive from
any other source.
	 
	 	(f)	 	Forfeiture. Notwithstanding the foregoing, any right
of the Executive to receive termination payments and benefits hereunder will be
forfeited for payments due from and after any material breach of Section 11,
12, 13, 14 or 16 by the Executive.
	 
	 	(g)	 	Section 409A Delay. Notwithstanding any provisions of
Section 9 to the contrary, if the Executive is a “specified employee” (within
the meaning of Section 409A and determined pursuant to procedures adopted by
the Company) at the time of his Separation from Service and if any portion of
the payments or benefits to be received by the Executive under Section 9 upon
his separation from service would be considered deferred compensation under
Section 409A, then the following provisions will apply to the relevant portion:

	 	(i)	 	Each portion of such payments and benefits
that would otherwise be payable pursuant to Section 9 during the
six-month period immediately following the Executive’s Separation from
Service (the “Delayed Period”) will instead be paid or made available
on the earlier of (i) the first business day of the seventh month
following the date the Executive incurs a Separation from Service and
(ii) the Executive’s death (the applicable date, the “Permissible
Payment Date”);
	 
	 	(ii)	 	With respect to any amount of expenses eligible
for reimbursement under Section 9, such expenses will be reimbursed by
the Company within 30 calendar days (or, if applicable, on the
Permissible Payment Date) following the date on which the Company
receives the applicable invoice from the Executive (and approves such
invoice) but in no event later than December 31 of the year following
the year in which the Executive incurs the related expenses;
	 
	 	(iii)	 	Payments delayed under Section 9 (other than the
delayed settlement of equity-based awards subject to Section 409A) as a
result of the application of Section 409A will not accrue interest. In
no event will the reimbursements or in-kind benefits to be provided by
the Company in one taxable year affect the amount of

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	 	 	 	reimbursements or in-kind benefits to be provided in any other taxable
year, nor will the Executive’s right to reimbursement or in-kind
benefits be subject to liquidation or exchange for another benefit;
and
	 
	 	(iv)	 	Each payment under this Agreement will be
considered a “separate payment” and not of a series of payments for
purposes of Section 409A.

	 	10.	 	Director’s and Officer’s Insurance; Indemnification. In addition to
any rights to indemnification to which the Executive is entitled under the Company’s
Restated Certificate of Incorporation and Bylaws, the Company shall indemnify the
Executive at all times during and after the Employment Term to the maximum extent
permitted under the Delaware Business Corporation Act or any successor provision
thereof in accordance with applicable law for the Executive’s action or inaction on
behalf of the Company while an employee. Further, Executive shall be covered within
the provisions of Director’s and Officer’s Insurance purchased by the Company in
accordance with the terms of such policies.
	 
	 	11.	 	Confidential Information; Statements to Third Parties.

	 	(a)	 	During the Employment Term and for twelve (12) months following
termination of the Executive’s employment, the Executive acknowledges that:

	 	(i)	 	all information, whether or not reduced to
writing (or in a form from which information can be obtained,
translated, or derived into reasonably usable form) or maintained in
the mind or memory of the Executive and whether compiled or created
by the Company, any of its Subsidiaries or any affiliates of the
Company or its Subsidiaries (collectively, the “Company Group”),
which derives independent economic value from not being readily known
to or ascertainable by proper means by others who can obtain economic
value from the disclosure or use of such information, of a
proprietary, private, secret or confidential (including, without
exception, inventions, products, processes, methods, techniques,
formulas, compositions, compounds, projects, developments, sales
strategies, plans, research data, clinical data, financial data,
personnel data, computer programs, customer and supplier lists,
trademarks, service marks, copyrights (whether registered or
unregistered), artwork, and contacts at or knowledge of customers or
prospective customers) nature concerning the Company Group’s
business, business relationships or financial affairs (collectively,
“Proprietary Information”) shall be the exclusive property of the
Company Group: provided however, that such Proprietary Information
shall not include any information that (A) has become generally
available to the public other than as a result of a

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	 	 	 	disclosure by the Executive, or (B) was available or became known to
the Executive prior to the disclosure of such information on a
non-confidential basis without breach of any duty of confidentiality
from any party to the Company and the Executive.
	 
	 	(ii)	 	the Proprietary Information of the Company
Group gained by the Executive during the Executive’s association with
the Company Group was or will be developed by and/or for the Company
Group through substantial expenditure of time, effort and money and
constitutes valuable and unique property of the Company Group;
	 
	 	(iii)	 	reasonable efforts have been put forth by the
Company Group to maintain the secrecy of its Proprietary Information;
	 
	 	(iv)	 	such Proprietary Information is and will remain
the sole property of the Company Group; and
	 
	 	(v)	 	any retention or use by the Executive of
Proprietary Information after the termination of the Executive’s
services for the Company Group or any non-renewal will constitute a
misappropriation of the Company Group’s Proprietary Information.

	 	(b)	 	The Executive further acknowledges and agrees that he will take
all affirmative steps reasonably necessary or required by the Company to
protect the Proprietary Information from inappropriate disclosure during and
after his employment with the Company.
	 
	 	(c)	 	The Executive further agrees that all documents or computer
files containing Proprietary Information in the Executive’s custody or
possession will be delivered to the Company (to the extent the Executive has
not already returned) in good condition, on or before five business days
subsequent to the earlier of: (i) a request by the Company or (ii) the
Executive’s termination of employment for any reason or Cause, including for
non-renewal of this Agreement, Disability, termination by the Company or
termination by the Executive.
	 
	 	(d)	 	The Executive further agrees that his obligation not to
disclose or to use information and materials of the types set forth in Sections
11(a), 11(b) and 11(c) above, and his obligation to return materials and
tangible property, set forth in Section 11(c) above, also extends to such types
of information, materials and tangible property of customers of the Company
Group, consultants for the Company, suppliers to the Company, or other third
parties who may have disclosed or entrusted the same to the Company or to the
Executive.
	 
	 	(e)	 	Further, the Executive acknowledges that his obligation of
confidentiality will survive, regardless of any other breach of this Agreement
or any other agreement, by any party hereto, until and unless such Proprietary

11

 

	 	 	 	Information of the Company Group has become, through no fault of the
Executive, generally known to the public. In the event that the Executive
is required by law, regulation, or court order to disclose any of the
Company Group’s Proprietary Information, the Executive will promptly notify
the Company prior to making any such disclosure to facilitate the Company
seeking a protective order or other appropriate remedy from the proper
authority. The Executive further agrees to cooperate with the Company at no
cost to the Executive in seeking such order or other remedy and that, if the
Company is not successful in precluding the requesting legal body from
requiring the disclosure of the Proprietary Information, the Executive will
furnish only that portion of the Proprietary Information that is legally
required, and the Executive at the sole cost and expense of the Company,
will exercise all legal efforts to obtain reliable assurances that
confidential treatment will be accorded to the Proprietary Information.
	 
	 	(f)	 	The Executive’s obligations under this Section 11 are in
addition to, and not in limitation of, all other obligations of confidentiality
under the Company’s policies, general legal or equitable principles or
statutes.
	 
	 	(g)	 	During the Employment Term, other than in connection with the
performance of his duties hereunder, and following his termination of
employment:

	 	(i)	 	the Executive will not, directly or
indirectly, make or cause to be made any statements, including but
not limited to, comments in books or printed media, to any third
parties criticizing or disparaging the Company Group or commenting on
the character or business reputation of the Company Group and
resulting in a material adverse impact upon the Company. Without the
prior written consent of the Board, unless otherwise required by law,
the Executive will not (A) publicly comment in a manner materially
adverse to the Company Group concerning the status, plans or
prospects of the business of the Company Group or (B) publicly
comment in a manner materially adverse to the Company Group
concerning the status, plans or prospects of any existing, threatened
or potential claims or litigation involving the Company Group;
	 
	 	(ii)	 	the Company will comply with its policies
regarding public statements with respect to the Executive and any such
statements will be deemed to be made by the Company only if made or
authorized by a member of the Board or a senior executive officer of
the Company; and any such statements made or authorized by a member of
the Board or senior executive officer pertaining to the Executive,
however disseminated, delivered or conveyed, shall not

12

 

	 	 	 	criticize or disparage the Executive or be negative or adverse with
regard to the character, performance or reputation of the Executive;
	 
	 	(iii)	 	nothing herein precludes honest and good faith
reporting by the Executive to appropriate Company or legal enforcement
authorities; and
	 
	 	(iv)	 	The Executive acknowledges and agrees that a
violation of the foregoing provisions of this Section 11 would cause
irreparable harm to the Company Group, and that the Company’s remedy at
law for any such violation would be inadequate. In recognition of the
foregoing, the Executive agrees that, in addition to any other relief
afforded by law or this Agreement, including damages sustained by a
breach of this Agreement and any forfeitures under Section 9(f), and
without the necessity or proof of actual damages, the Company will have
the right to enforce this Agreement by specific remedies, which will
include, among other things, temporary and permanent injunctions, it
being the understanding of the undersigned parties hereto that damages,
the forfeitures described above and injunctions will all be proper
modes of relief and are not to be considered as alternative remedies.

	 	12.	 	Non-Competition. In consideration of the Company entering into this
Agreement, for a period commencing on the Effective Date and ending on the expiration
of the Restricted Period:

	 	(a)	 	The Executive covenants and agrees that the Executive will not,
directly or indirectly, engage in any activities on behalf of or have an
interest in any Competitor of the Company Group, whether as an owner, investor,
executive, manager, employee, independent consultant, contractor, advisor, or
otherwise. The Executive’s ownership of less than one percent (1%) of any
class of stock in a publicly traded corporation will not be a breach of this
paragraph.
	 
	 	(b)	 	A “Competitor” is any entity doing business directly or
indirectly (e.g., as an owner, investor, provider of capital or otherwise) in
the United States including any territory of the United States (the
“Territory”) that provides products and/or services that are the same or
similar to the products and/or services that are currently being provided at
the time of Executive’s termination or that were provided by the Company Group
during the two-year period prior to the Executive’s separation from service
with the Company Group or the non-renewal of this Agreement.
	 
	 	(c)	 	The Executive acknowledges and agrees that due to the
continually evolving nature of the Company Group’s industry, the scope of its
business and/or the identities of Competitors may change over time. The
Executive further acknowledges and agrees that the Company Group

13

 

	 	 	 	markets its
products and services on a nationwide basis, encompassing the Territory and
that the restrictions imposed by this covenant, including the geographic scope,
are reasonably necessary to protect the Company Group’s legitimate interests.
	 
	 	(d)	 	The Executive covenants and agrees that should a court at any
time determine that any restriction or limitation in this Section 12 is
unreasonable or unenforceable, it will be deemed amended so as to provide the
maximum protection to the Company Group and be deemed reasonable and
enforceable by the court.

	 	13.	 	Non-Solicitation. In consideration of the Company entering into this
Agreement, for a period commencing on the date on which the Executive’s employment
terminates for any reason and ending on the expiration of the Restricted Period, the
Executive hereby covenants and agrees that he will not, directly or indirectly,
individually or on behalf of any other person or entity do any of the following:

	 	(a)	 	hire or employ or assist in hiring or employing any person who
was at any time during the last 18 months of the Executive’s employment an
employee, representative or agent of any member of the Company Group or
solicit, aid, induce or attempt to solicit, aid, induce or persuade, directly
or indirectly, any person who is an employee, representative, or agent of any
member of the Company Group to leave his or her employment with any member of
the Company Group to accept employment with any other person or entity
provided, however, the foregoing shall not prohibit advertisements for
employment placed in newspapers or other media of general circulation to the
general public;
	 
	 	(b)	 	induce any person who is an employee, officer or agent of the
Company Group, or any of its affiliated, related or subsidiary entities to
terminate such relationship;
	 
	 	(c)	 	solicit any customer of the Company Group, or any person or
entity whose business the Company Group had solicited during the 180-day period
prior to termination of the Executive’s employment for purposes of business
which is competitive to the Company Group within the Territory; or
	 
	 	(d)	 	For purposes of this Section 13, the term “solicit or persuade”
includes, but is not limited to, (i) initiating communications with an employee
of the Company Group relating to possible employment, (ii) offering bonuses or
additional compensation to encourage an employee of the Company Group to
terminate his employment, and (iii) referring employees of the
Company Group to personnel or agents employed by competitors, suppliers or
customers of the Company Group.

	 	14.	 	Developments.

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	 	(a)	 	The Executive acknowledges and agrees that he will make full
and prompt disclosure to the Company of all inventions, improvements,
discoveries, methods, developments, software, mask works, and works of
authorship, whether patentable or copyrightable or not, (i) which relate to the
Company’s business and have heretofore been created, made, conceived or reduced
to practice by the Executive or under his direction or jointly with others, and
not assigned to prior employers, or (ii) which have utility in or relate to the
Company’s business and are created, made, conceived or reduced to practice by
the Executive or under his direction or jointly with others during his
employment with the Company, whether or not during normal working hours or on
the premises of the Company (all of the foregoing of which are collectively
referred to in this Agreement as “Developments”).
	 
	 	(b)	 	The Executive further agrees to sign the Company’s Standard
Invention and Disclosure Agreement as required of all new employees.
	 
	 	(c)	 	The Executive further agrees to cooperate fully with the
Company, both during and his employment with the Company, with respect to the
procurement, maintenance and enforcement of copyrights, patents and other
intellectual property rights (both in the United States and other countries)
relating to Developments. The Executive will not be required to incur or pay
any costs or expenses in connection with the rendering of such cooperation.

	 	15.	 	Remedies. The Executive and the Company agree that the covenants
contained in Sections 11, 12, 13 and 14 are reasonable under the circumstances, and
further agree that if in the opinion of any court of competent jurisdiction any such
covenant is not reasonable in any respect, such court will have the right, power and
authority to sever or modify any provision or provisions of such covenants as to the
court will appear not reasonable and to enforce the remainder of the covenants as so
amended. The Executive acknowledges and agrees that the remedy at law available to the
Company for breach of any of the Executive’s obligations under Sections 11, 12, 13 and
14 would be inadequate and that damages flowing from such a breach may not readily be
susceptible to being measured in monetary terms. Accordingly, the Executive
acknowledges, consents and agrees that, in addition to any other rights or remedies
that the Company may have at law, in equity or under this Agreement, upon adequate
proof of the Executive’s violation of any such provision of this Agreement, the Company
will be entitled to immediate injunctive relief and may obtain a temporary order
restraining any threatened or further breach, without the necessity of proof of actual
damage.
	 
	 	16.	 	Continued Availability and Cooperation.

	 	(a)	 	Following termination of the Executive’s employment, the
Executive will, at no cost to the Executive, but at the sole cost and expense
of the

15

 

	 	 	 	Company, cooperate fully with the Company and with the Company’s
counsel in connection with any present and future actual or threatened
litigation, administrative proceeding or investigation involving the Company
that relates to events, occurrences or conduct occurring (or claimed to have
occurred) during the period of the Executive’s employment by the Company.
Cooperation will include, but is not limited to:

	 	(i)	 	Making himself reasonably available for
interviews and discussions with the Company’s counsel as well as for
depositions and trial testimony;
	 
	 	(ii)	 	if depositions or trial testimony are to
occur, making himself reasonably available and cooperating in the
preparation therefore, as and to the extent that the Company or the
Company’s counsel reasonably requests;
	 
	 	(iii)	 	refraining from impeding in any way the
Company’s prosecution or defense of such litigation or administrative
proceeding; and
	 
	 	(iv)	 	cooperating fully in the development and
presentation of the Company’s prosecution or defense of such litigation
or administrative proceeding.

	 	(b)	 	The Company will reimburse the Executive for reasonable travel,
lodging, telephone and similar expenses, as well as reasonable attorneys’ fees
(if independent legal counsel is necessary or otherwise reasonably requested by
the Executive), incurred in connection with any cooperation, consultation and
advice rendered under this Agreement. Any reimbursement or provision of
in-kind benefits made during the Executive’s lifetime pursuant to the terms of
this Section 16(b) will be made as soon as possible but in no event later than
December 31st of the year following the year in which the Executive incurs the
expense. In no event will the amount of expenses so reimbursed, or in-kind
benefits provided, by the Company in one year affect the amount of expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other
taxable year. Each provision of reimbursement of expenses or in-kind benefit
pursuant to this Section 16(b) will be considered a separate payment and not
one of a series of payments for purposes of Section 409A of the Code.

	 	17.	 	Dispute Resolution. 

	 	(a)	 	In the event that the Parties are unable to resolve any
controversy or claim arising out of or in connection with this Agreement or
breach thereof, either Party will refer the dispute to binding arbitration,
which will be the exclusive forum for resolving such claims. Such arbitration
will be

16

 

	 	 	 	administered by the American Arbitration Association (“AAA”) pursuant
to its Rules and Procedures for Resolution of Employment Disputes and governed
by Delaware law. The arbitration will be conducted by a single arbitrator
selected by the Parties according to the rules of AAA. In the event that the
Parties fail to agree on the selection of the arbitrator within 30 days after
either Party’s request for arbitration, the arbitrator will be chosen by AAA.
The arbitration proceeding will commence on a mutually agreeable date within 90
days after the request for arbitration, unless otherwise agreed by the Parties,
and in the location where the Executive worked during the six months
immediately prior to the request for arbitration if that location is in Ohio
and if not, the location will be Ohio, unless the Parties agree otherwise.
	 
	 	(b)	 	The Parties agree that each will bear their own costs and
attorneys’ fees. The arbitrator will not have authority to award attorneys’
fees or costs to any Party.
	 
	 	(c)	 	The arbitrator will have no power or authority to make awards
or orders granting relief that would not be available to a Party in a court of
law. The arbitrator’s award is limited by and must comply with this Agreement
and applicable federal, state, and local laws. The decision of the arbitrator
will be final and binding on the Parties.
	 
	 	(d)	 	Notwithstanding the foregoing, no claim or controversy for
injunctive or equitable relief contemplated by or allowed under applicable law
pursuant to Sections 11, 12, 13 and 14 of this Agreement will be subject to
arbitration under this Section 17, but will instead be subject to determination
in a court of competent jurisdiction in Ohio, which court will apply Delaware
law consistent with Section 22 of this Agreement, where either Party may seek
injunctive or equitable relief.

	 	18.	 	Other Agreements. No agreements (other than the agreements evidencing
any grants of equity awards) or representations, oral or otherwise, express or implied,
with respect to the subject matter hereof have been made by either party which are not
expressly set forth in this Agreement. Each party to this Agreement acknowledges that
no representations, inducements, promises, or other agreements, orally or otherwise,
have been made by any party, or anyone acting on behalf of any party, pertaining to the
subject matter hereof, which are not embodied herein, and that no prior and/or
contemporaneous agreement, statement or promise pertaining to the subject matter hereof
that is not contained in this Agreement will be valid or binding on either party. In
the event of any inconsistency between this Agreement and any other agreement which
binds or benefits the Executive and the Company, including any incentive plan, Employee
Plan or benefit plan, this Agreement shall supersede, govern and control unless
otherwise required by applicable law.

17

 

	 	19.	 	Withholding of Taxes. The Company will withhold from any amounts
payable under this Agreement all federal, state, city or other taxes as the Company is
required to withhold pursuant to any law or government regulation or ruling.
	 
	 	20.	 	Successors and Binding Agreement.

	 	(a)	 	The Company will require any successor (whether direct or
indirect, by purchase, merger, consolidation, reorganization or otherwise) to
all or substantially all of the business or assets of the Company expressly to
assume and agree to perform this Agreement in the same manner and to the same
extent the Company would be required to perform if no such succession had taken
place. This Agreement will be binding upon and inure to the benefit of the
Company and any successor to the Company, including without limitation any
persons acquiring directly or indirectly all or substantially all of the
business or assets of the Company whether by purchase, merger, consolidation,
reorganization or otherwise (and such successor will thereafter be deemed the
“Company” for the purposes of this Agreement), but will not otherwise be
assignable, transferable or delegable by the Company.
	 
	 	(b)	 	This Agreement will inure to the benefit of and be enforceable
by the Executive’s personal or legal representatives, executors,
administrators, successors, heirs and legatees.
	 
	 	(c)	 	This Agreement is personal in nature and neither of the parties
hereto will, without the consent of the other, assign, transfer or delegate
this Agreement or any rights or obligations hereunder except as expressly
provided in Sections 20(a) and 20(b). Without limiting the generality or
effect of the foregoing, the Executive’s right to receive payments hereunder
will not be assignable, transferable or delegable, whether by pledge, creation
of a security interest, or otherwise, other than by a transfer by the
Executive’s will or by the laws of descent and distribution and, in the event
of any attempted assignment or transfer contrary to this Section 20(c), the
Company will have no liability to pay any amount so attempted to be assigned,
transferred or delegated.

	 	21.	 	Notices. All communications, including without limitation notices,
consents, requests or approvals, required or permitted to be given hereunder will be in
writing and will be duly given when hand delivered or dispatched by electronic
facsimile transmission (with receipt thereof confirmed), or five business days after
having been mailed by United States registered or certified mail, return receipt
requested, postage prepaid, or three business days after having been sent by a
nationally recognized overnight courier service such as Federal Express or UPS,
addressed to the Company (to the attention of the General Counsel of the
Company) at its principal executive offices and to the Executive at his principal
residence, or to such other address as any party may have furnished to the other in

18

 

	 	 	 	writing and in accordance herewith, except that notices of changes of address will
be effective only upon receipt.
	 
	 	22.	 	Governing Law and Choice of Forum.

	 	(a)	 	This Agreement will be construed and enforced according to the
laws of the State of Delaware, without giving effect to the conflict of laws
principles thereof.
	 
	 	(b)	 	To the extent not otherwise provided for by Section 17 of this
Agreement, the Executive and the Company consent to the jurisdiction of all
state and federal courts located in Ohio, as well as to the jurisdiction of all
courts to which an appeal may be taken from such courts, for the purpose of any
suit, action, or other proceeding arising out of, or in connection with, this
Agreement or that otherwise arise out of the employment relationship. Each
party hereby expressly waives any and all rights to bring any suit, action, or
other proceeding in or before any court or tribunal other than the courts
described above and covenants that it will not seek in any manner to resolve
any dispute other than as set forth in this paragraph. Further, the Executive
and the Company hereby expressly waive any and all objections either may have
to venue, including, without limitation, the inconvenience of such forum, in
any of such courts. In addition, each of the Parties consents to the service
of process by personal service or any manner in which notices may be delivered
hereunder in accordance with this Agreement.

	 	23.	 	Validity/Severability. If any provision of this Agreement or the
application of any provision is held invalid, unenforceable or otherwise illegal, the
remainder of this Agreement and the application of such provision will not be affected,
and the provision so held to be invalid, unenforceable or otherwise illegal will be
reformed to the extent (and only to the extent) necessary to make it enforceable, valid
or legal. To the extent any provisions held to be invalid, unenforceable or otherwise
illegal cannot be reformed, such provisions are to be stricken and the remainder of
this Agreement will be binding on the parties and their successors and assigns as if
such invalid or illegal provisions were never included in this Agreement from the first
instance.
	 
	 	24.	 	Survival of Provisions. Notwithstanding any other provision of this
Agreement, the parties’ respective rights and obligations under Sections 9, 10, 11, 12,
13, 14, 15, 16, 17, 19, 23 and 27 will survive any termination or expiration of this
Agreement or the termination of the Executive’s employment.
	 
	 	25.	 	Representations and Acknowledgements.

	 	(a)	 	The Executive hereby represents that, except as he has
disclosed in writing to the Company with regard to his employment contract with
Hayes Lemmerz International, Inc. and any agreements associated with his

19

 

	 	 	 	employment or retirement from Ford Motor Company, he is not subject to any
restriction of any nature whatsoever on his ability to enter into this
Agreement or to perform his duties and responsibilities hereunder, including,
but not limited to, any covenant not to compete with any former employer, any
covenant not to disclose or use any non-public information acquired during the
course of any former employment or any covenant not to solicit any customer of
any former employer.
	 
	 	(b)	 	The Executive hereby represents that, except as he has
disclosed in writing to the Company with regard to his employment agreement
with Hayes Lemmerz International, Inc. and any agreements associated with his
employment or retirement from Ford Motor Company, he is not bound by the terms
of any agreement with any previous employer or other party to refrain from
using or disclosing any trade secret or confidential or proprietary information
in the course of the Executive’s employment with the Company or to refrain from
competing, directly or indirectly, with the business of such previous employer
or any other party.
	 
	 	(c)	 	The Executive further represents that, to the best of his
knowledge, his performance of all the terms of this Agreement and as an
employee of the Company does not and will not breach any agreement with another
party, including without limitation any agreement to keep in confidence
proprietary information, knowledge or data the Executive acquired in confidence
or in trust prior to his employment with the Company, and that he will not
knowingly disclose to the Company or induce the Company to use any confidential
or proprietary information or material belonging to any previous employer or
others.
	 
	 	(d)	 	The Executive hereby represents and agrees that, during the
Restricted Period, if the Executive is offered employment or the opportunity to
enter into any business activity, whether as owner, investor, executive,
manager, employee, independent consultant, contractor, advisor or otherwise,
the Executive will inform the offeror of the existence of Sections 11, 12, 13
and 14 of this Agreement and provide the offeror a copy thereof.

	 	26.	 	Compliance with Code Section 409A. It is intended that any amounts
payable under this Agreement and the Company’s and the Executive’s exercise of
authority or discretion hereunder will comply with the provisions of Section 409A of
the Code and the treasury regulations relating thereto so as not to subject the
Executive to the payment of the additional tax, interest and any tax penalty which may
be imposed under Code Section 409A. Reference to Section 409A of the Code is to
Section 409A of the Internal Revenue Code of 1986, as amended, and will also include
any proposed, temporary or final regulations, or any other guidance, promulgated with
respect to such Section by the U.S. Department of
Treasury or the Internal Revenue Service. Notwithstanding the foregoing, no
particular tax result for the Executive with respect to any income recognized by the
Executive in connection with the Agreement is guaranteed, and the Executive

20

 

	 	 	 	will be
responsible for any taxes, penalties and interest imposed on him under or as a
result of Section 409A of the Code in connection with the Agreement.
	 
	 	27.	 	Amendment; Waiver. Except as otherwise provided herein, this Agreement
may not be modified, amended or waived in any manner except by an instrument in writing
signed by both Parties hereto. No waiver by either Party at any time of any breach by
the other Party hereto or compliance with any condition or provision of this Agreement
to be performed by such other Party will be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time.
	 
	 	28.	 	Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original but all of which together
will constitute one and the same agreement. The Recitals and any attachments to this
Agreement are by this reference incorporated into and made a part of this Agreement.
	 
	 	29.	 	Headings. Unless otherwise noted, the headings of sections herein are
included solely for convenience of reference and will not control the meaning or
interpretation of any of the provisions of this Agreement.
	 
	 	30.	 	Defined Terms.

	 	(a)	 	“Bylaws” means the Amended and Restated Dana Holding
Corporation Bylaws, as may be amended from time to time.
	 
	 	(b)	 	“Cause” will mean:

	 	(i)	 	Any act or omission constituting a material
breach by the Executive of any provisions of this Agreement that has
not been cured within thirty (30) days after written notice to the
Executive describing the breach and the nature of the conduct
necessary to cure the breach;
	 
	 	(ii)	 	The willful failure by the Executive to
perform his duties hereunder (other than any such failure resulting
from the Executive’s Disability), after demand for performance is
delivered by Company that identifies in reasonable detail the manner
in which Company believes the Executive has not performed his duties,
if, within 30 calendar days of such demand, the Executive fails to
cure any such failure capable of being cured;
	 
	 	(iii)	 	Any intentional act or misconduct materially
injurious to Company or any Subsidiary, financial or otherwise, or any
act of misappropriation, fraud including with respect to Company’s
accounting and financial statements, embezzlement or conversion by
the Executive of Company’s or any of its Subsidiary’s property;

21

 

	 	(iv)	 	The conviction (or plea of no contest) of the
Executive for any felony, including any felony involving fraud, moral
turpitude, embezzlement or theft;
	 
	 	(v)	 	The commission of any violation of any
antifraud provision of federal or state securities laws; or
	 
	 	(vi)	 	Alcohol or prescription or other drug abuse
substantially affecting work performance.

	 	(c)	 	“Restated Certificate of Incorporation” means the Certificate
of Incorporation of Dana Holding Corporation, as may be amended from time to
time.
	 
	 	(d)	 	“Code” means the Internal Revenue Code of 1986, as amended from
time to time, including any rules and regulations promulgated thereunder, along
with Treasury and IRS Interpretations thereof. Reference to any section or
subsection of the Code includes reference to any comparable or succeeding
provisions of any legislation that amends, supplements or replaces such section
or subsection.
	 
	 	(e)	 	“Disability” or “Disabled” will mean the Executive’s incapacity
due to physical or mental illness to substantially perform his duties and the
essential functions of his position, with or without reasonable accommodation,
on a full-time basis for six months as determined by the Board in its
reasonable discretion, and within 30 days after a notice of termination is
thereafter given by the Company, the Executive will not have returned to the
full-time performance of the Executive’s duties; provided,
however, if the Executive disputes a determination to terminate his
employment because of Disability, the question of the Executive’s disability
will be subject to the certification of a qualified medical doctor selected by
the Company and the Executive. The costs of such qualified medical doctor will
be paid for by the Company.
	 
	 	(f)	 	“Employment Term” means the Initial Employment Term and any
Renewal Term.
	 
	 	(g)	 	“Good Reason” means (i) a reduction in the Executive’s Base
Salary or benefits (other than reductions applied similarly to all of the
Company’s senior executives; (ii) failure to pay or provide any of the
compensation set forth in this Agreement (except for reductions applied
similarly to all of the Company’s senior executives), (iii) a material adverse
change by the Company in the Executive’s title, position, authority or
reporting relationships within the Company (and which shall not include any
additional duties assigned to the Executive based his past experience and
background); and (iv) a failure by the Company to comply with any material
provision of this Agreement, which failure is not cured (if capable

22

 

	 	 	 	of cure)
within 15 days (or in any event after 45 days if not capable of cure within
15 days) after written notice of such non-compliance by the Company.
	 
	 	(h)	 	“LTIP” means the Company’s 2008 Omnibus Incentive Plan,
effective December 26, 2007 as may be amended from time to time, or any
successor plan, program or arrangement thereto.
	 
	 	(i)	 	“Payment Period” means the 12-month period following the
Executive’s termination of employment.
	 
	 	(j)	 	“Restricted Period” means the 12-month period following the
Executive’s date of termination of employment with the Company for any reason
or Cause, including for non-renewal of this Agreement, Disability, termination
by the Company or termination by the Executive.
	 
	 	(k)	 	“STIP” means the Company’s Short-Term Incentive Plan (also
known as the “Annual Incentive Plan”), effective December 26, 2007, as may be
amended from time to time, or any successor plan, program or arrangement
thereto.
	 
	 	(l)	 	“Subsidiary” will mean any entity, corporation, partnership
(general or limited), limited liability company, entity, firm, business
organization, enterprise, association or joint venture in which the Company
directly or indirectly controls ten percent (10%) or more of the voting
interest.

     IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by an officer pursuant
to the authority of its Board, and the Executive has executed this Agreement, as of the day and
year first written above.

	 	 	 	 	 
	 	DANA HOLDING CORPORATION

 	 
	 	By:  	/s/ Robert H. Marcin
 	 
	 	 	Robert H. Marcin 	 
	 	 	Chief Administrative Officer 	 
	 
	 
	 	 	 
	 	 	/s/ James A. Yost
 	 
	 	 	James A. Yost 	 
	 	 	 	 
	 

23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]