Document:

exv10w12

 

EXHIBIT 10.12

DATED:      March 10, 2004

BETWEEN:

STANDARD AERO LIMITED,

OF THE FIRST PART,

- and -

BRADLEY BERTOUILLE,

OF THE SECOND PART.

AMENDING AGREEMENT

 

 

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DATED:       March 10, 2004

BETWEEN:

STANDARD AERO LIMITED,

OF THE FIRST PART,

- and -

BRADLEY BERTOUILLE,

OF THE SECOND PART.

AMENDING AGREEMENT

WHEREAS the parties entered into an Employment Agreement dated June 17, 2002 (“the
Employment Agreement”);

AND WHEREAS the parties have agreed to amend the Employment Agreement.

NOW THEREFORE THIS AGREEMENT WITNESSETH THAT, in consideration of the premises and of the mutual
covenants herein contained, the parties hereto agree as follows:

1. The Employment Agreement is amended effective as of March 10, 2004
(the “Commencement Date”) by deleting paragraph 6, and replacing it with the following:

	 	“6.   	 The Executive shall be employed for an initial period of three years
from the date hereof (the “Commencement Date”) and thereafter until the expiry
of not less than eighteen months’ written notice of termination given by either
party to the other so as to expire at the end of the said period or any time
thereafter. In the event the Corporation terminates the employment of the
Executive within the initial period of three years, for other than just

 

 

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	 	   	cause, it shall at that time pay to the Executive an amount equal to three
years’ salary and the value to the Executive of employment benefits for
three years including pension, life insurance benefits, motor car, medical
and health insurance. In the event the Corporation terminates the employment
of the Executive after the initial period of three years, for other than
just cause, the Corporation reserves the right to pay to the Executive, at
that time in lieu of notice, an amount equal to eighteen months’ salary and
the value to the Executive of employment benefits for eighteen months
including pension, life insurance benefits, motor car, medical and health
insurance.”

     IN WITNESS WHEREOF this document has been duly executed and delivered as a deed the day and
year first before written.

	 	 	 	 	 	 	 	 	 
	Executed as a Deed by

	 	 	)	 	 	 
	 	 
	Standard Aero Limited

	 	 	)	 	 	 	 	 
	acting by

	 	 	)	 	 	 	 	 
	 
	[Illegible]
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Director
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Executed as a Deed by

	 	 	)	 	/s/ Bradley Bertouille	 	 	 
	Bradley Bertouille

	 	 	)	 	 	 	 	 
	in the presence of:

	 	 	)	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	[Illegible]
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Witness’s name and signature
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	[Illegible]
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Witness’s addressexv10w13

 

EXHIBIT 10.13

THIS AGREEMENT MADE IN DUPLICATE the 17 day of June, 2002.

BETWEEN:

Edward Richmond,

(herein called “the Executive”)

OF THE FIRST PART,

- and -

Standard Aero Limited,

(herein called “the Corporation”)

OF THE SECOND PART.

EMPLOYMENT AGREEMENT

 

 

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THIS AGREEMENT MADE IN
DUPLICATE the 17 day of June, 2002.

BETWEEN:

Edward Richmond,

(herein called “the Executive”)

OF THE FIRST PART,

- and -

Standard Aero Limited,

(herein called “the Corporation”)

OF THE SECOND PART.

EMPLOYMENT AGREEMENT

WHEREAS the Executive is currently employed by the Corporation in an executive and managerial
capacity;

AND WHEREAS a change in ultimate ownership of the Corporation may occur;

AND WHEREAS the Corporation wishes to ensure the Executive remains in the employ of the
Corporation;

AND WHEREAS the Corporation and the Executive have agreed on terms of employment including
termination provisions.

NOW THEREFORE WITNESSETH that in consideration of the premises and the mutual covenants herein
contained, the parties hereto covenant and agree as follows:

1. The Executive shall continue to be employed by the Corporation in his position of Senior Vice
President, Strategy & Business Development with his existing duties, responsibilities and
authority, or in such other position for any of the Corporation’s related corporations, with such
duties, responsibilities and authority, or determined by the Corporation,

2. The Corporation shall pay to the Executive an annual salary of $224,400.00 Canadian,

 

 

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payable in accordance with the Corporation’s policy for the payment of salaries. The
Corporation shall withhold and deduct from each such payment ail amounts required by law to be
withheld or deducted. The Executive’s annual salary shall be reviewed, and if appropriate,
increased in accordance with the Corporation’s usual policy for salary reviews and increases. The
annual salary of the Executive as determined in accordance with this paragraph is herein called the
“Salary”.

3. The Executive shall continue to be entitled to all benefits to which he is entitled on the date
hereof, including the right to continued participation in employee benefit and pension plans, the
use of a company motor vehicle, corporate membership, and participation in the management incentive
scheme, all in accordance with the Corporation’s policies.

4. The Corporation shall reimburse the Executive for all reasonable expenses (including travel
expenses) in accordance with the Corporation’s expense policy.

5. The Executive shall be entitled to vacation in each year in accordance with the Corporation’s
vacation policy.

6. In the event of the termination of the Executive’s employment by the Corporation, except if
terminated for just cause, the Executive shall be entitled to receive a lump sum payment equal to
150% of his then Salary, less all amounts required by law to be withheld or deducted therefrom.
Such payment (herein “the termination payment”) shall be made within 14 days following the date of
termination, and is hereby expressly acknowledged by the Executive to be in full payment and
satisfaction of all amounts which the Executive may now or hereafter claim against the Corporation
for payment in lieu of notice or damages relating to the termination of his employment (save and
except only any claim for the reimbursements of earned salary, accrued vacation entitlement, and
expenses incurred prior to the date of termination).

7. Notwithstanding paragraph 6 hereof, the Corporation and the Executive hereby agree that the
Executive’s employment may be terminated at any time by the Corporation for just cause, in which
event the Executive shall not be entitled to notice or payment in lieu of notice, or the
termination payment referred to in paragraph 6 above.

8. Upon the termination of his employment, the Executive agrees to return forthwith to the
Corporation all company property.

9. The Executive agrees that following the termination of his employment by the

 

 

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Corporation, he will not at any time during a period of one (1) year from the date of such
termination (without the prior express written consent of the Corporation) either individually or
in partnership, or in conjunction with any person or persons, firm, association, syndicate,
company or corporation, as principal, agent, director, officer, employee, consultant, investor
(other than passive holdings of less than 3% in publicly traded companies), or in any other manner
whatsoever, carry on or advise, lend money to, guarantee the debts or obligations of, or permit
his name or any part thereof to be used or employed by any person or persons, firm, association,
syndicate, company or corporation, engaged in or concerned with any interest that competes with
the Corporation.

10. The Executive agrees that following the termination of Ms employment by the Corporation,
he will not during a period of one (1) year from the date of such termination (without the prior
express written consent of the Corporation) directly or indirectly solicit any customers or
employees of the Corporation.

11. The Executive acknowledges that in the course of carrying out, performing and fulfilling his
responsibilities to the Corporation, he has access to and is entrusted with detailed, confidential
information and trade secrets concerning the business of the Corporation, and its related
corporations, and the present and contemplated products, techniques and other services evolved or
used by the Corporation and its related corporations, and acknowledges that the disclosure of such
confidential information would be highly detrimental to the best interests of the Corporation and
its related corporations. Accordingly, the Executive acknowledges and agrees that the right to
maintain the confidentiality of such information and trade secrets, and the right to preserve its
goodwill, constitute proprietary rights which the Corporation and its related corporations are
entitled to protect. Accordingly, the Executive covenants and agrees that, except with the
express written consent of the Corporation, he will not, either during the term of his employment
by the Corporation, or at any time thereafter, disclose any of such confidential information and
trade secrets to any person not in the employ of the Corporation or its related corporations, nor
shall he use the same for any purpose other than the purposes of the Corporation.

12. The Executive agrees that all restrictions contained in paragraphs 9, 10, and 11 hereof are
reasonable and valid in the circumstances, and all defences to the strict enforcement thereof by
the Corporation or its related corporations are hereby waived by the Executive.

13. Any notice, request, demand or other communication required or permitted to be given hereunder
shall be sufficiently given if in the case of the Executive it is delivered personally or

 

 

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mailed by registered mail,
postage pre-paid, addressed to the Executive at his last residential
address known and filed in writing with the Corporation, and in the case of the Corporation
delivered personally or mailed by registered mail, postage pre-paid, addressed to the Corporation
at its head office. Any notice mailed as aforesaid shall be deemed to have been received on the
second business day following the date of mailing,

14. This Agreement supercedes and replaces any previous employment agreement or termination
agreement between the Executive and the Corporation, excepting only separate agreements relating to
corporate relocations and training programs.

15. The Executive confirms that he is signing this Agreement voluntarily, and confirms that he has
had the opportunity to obtain independent legal advice.

16. This Agreement enures to the benefit of and is binding upon the Executive, his heirs and legal
personal representatives, and the Corporation and its successors and assigns.

17. This Agreement shall be governed by and construed in accordance with the laws of the Province
of Manitoba, and the parties submit to the jurisdiction of the Courts of the Province of Manitoba.

IN WITNESS WHEREOF the parties have executed this Agreement the 17 day of June, 2002.

	 	 	 	 	 	 	 	 	 	 	 
	Signed
in the presence of:

	 	 	)	 	 	 	 	 	 	 
	

	 	 	)	 	 	 	 	 	 	 
	

	 	 	)	 	 	 	 	 	 	 
	/s/ Bruce Clark	 	 	)	 	 	/s/ Edward Richmond	 	 
	 	 	 	 	 	 	 	 	 
	Witness	 	 	 	 	 	Edward Richmond	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Standard Aero Limited	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	Per:
	 	/s/ David Shaw

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