Document:

Exhibit
      10.15

    

    (English
      Translation)

    

    CONSULTING
      AGREEMENT

    

    This
      Consulting Agreement (this "Agreement") is entered into as of March 8, 2007
      by
      and between the International Lorain Holding Inc. a holding company organized
      under the laws of the Cayman Islands, (”Lorain"), and Heritage Management
      Consultants, Inc., a corporation organized under the laws of South Carolina,
      USA
      (“Heritage” or "the "Consultant").

     

    RECITALS

    

    1.
      Consultant is willing to provide to Lorain and its affiliated companies
      (collectively, the “Company”) the consulting services identified in this
      Agreement. 

    

    2.
      Lorain
      is willing to engage Consultant as an independent contractor, and not as an
      employee, on the terms and conditions set forth herein.

    

    AGREEMENT

    

    In
      consideration of the foregoing and of the mutual promises set forth herein,
      and
      intending to be legally bound, the parties hereto agree as follows:

    

    1. Engagement.
      Lorain
      hereby engages Consultant as an independent contractor to provide outsourced
      professional management services for the purpose of assisting the Company in
      its
      reverse merger transaction and in meeting its obligations as a US publicly
      traded company. Heritage will provide an executive who will act as the Company’s
      U.S. based executive (the “Spokesperson”) to the U.S. financial markets, and who
      will be supported by the Heritage staff. The scope of work includes the
      following:

    

    
      	·  	
              The
                Spokesperson will be supported by a staff financial
                analyst.

            

      	 	 

    

    
      	·  	
              Heritage
                representative(s) will visit the Company’s location(s) to conduct a
                detailed analysis of the Company in order to gain an understanding
                of the
                Company’s operations, strategies and financial
                projections.

            

      	 	 

    

    
      	·  	
              Heritage
                will develop an investor presentation for use in any
                transactions.

            

      	 	 

    

    
      	·  	
              Heritage
                will review and suggest edits to any written business plans in the
                English
                language that will be used for any
                transaction.

            

      	 	 

    

    
      	·  	
              Heritage
                will provide consultation to the Company during all fund raising
                activities during the term of the engagement. The Spokesperson will
                make
                “one on one,” web cast and teleconference presentations to investment
                banks and potential investors on behalf of the Company with the Company’s
                executive management in attendance. Heritage staff will coordinate
                communications between investment banks, investors and the
                Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	·  	
              Heritage
                staff will assist the company in the construction of both historical
                and
                projected financial models appropriate for use with the investment
                community. Heritage staff will conduct a detailed review of the financial
                projections for any potential issues prior to their release to the
                investment community.

            

      	 	 

    

    
      	·  	
              On
                an ongoing basis, Spokesperson will be available to make “one on one”
                presentations, web cast presentation and teleconference updates to
                current
                investors, potential investors, and the analyst community as
                appropriate

            

      	 	 

    

    
      	·  	
              Spokesperson
                will participate in investor conferences, as
                appropriate.

            

      	 	 

    

    
      	·  	
              Spokesperson
                will conduct quarterly investor conference calls, as appropriate.
                

            

      	 	 

    

    
      	·  	
              Spokesperson
                and the Heritage staff will be readily available to receive inquiries
                and
                coordinate responses to potential and current investors, buy and
                sell side
                analysts, the financial press, and the Securities and Exchange Commission.
                

            

      	 	 

    

    
      	·  	
              Heritage
                will work with the Company on proactively analyzing, identifying
                potential
                issues or areas of concern and constructing responses to potential
                questions which may result from the Company’s quarterly financial
                results.

            

      	 	 

    

    
      	·  	
              Heritage
                can assist the Company in interviewing; selecting and retaining an
                investor relations firm.

            

      	 	 

    

    
      	·  	
              Heritage
                will solicit independent research coverage with the sell side analyst
                community. 

            

      	 	 

    

    
      	·  	
              Heritage
                will review all press releases on financial results and material
                company
                events.

            

      	 	 

    

    
      	·  	
              Heritage
                will assist the company in the recruitment of independent directors
                as
                required to facilitate the company’s listing on NASDAQ or the American
                Stock Exchange.

            

      	 	 

    

    
      	·  	
              Heritage
                will assist the company in putting into place the necessary internal
                management resources that will enable the company to operate effectively
                in the capital markets on an ongoing
                basis.

            

      	 	 

    

    
      	·  	
              Heritage
                will assist the company in the arrangement of Directors and Officers
                Liability Insurance coverage.

            

    

    

    2. Term.
      This
      Agreement will commence on the date first written above, and unless modified
      by
      the mutual written agreement of the parties, shall continue for a period of
      one
      year. 

    

    3. Compensation.

     

    a. In
      consideration of the services to be performed by Consultant, Lorain agrees
      to
      pay Consultant one hundred seventy five thousand U.S. dollars ($175,000.)
      Payment of one hundred fifteen thousand U.S. dollars ($115,000) will be made
      immediately upon the successful completion of a transaction (a “RTO”) whereby
      Lorain becomes a wholly owned subsidiary of a corporation domiciled in the
      United States of America., The remaining sixty thousand U.S. dollars ($60,000)
      will be paid in three equal installments of twenty thousand dollars ($20,000)
      at
      the beginning of each calendar quarter commencing ninety (90) days after the
      execution of this agreement.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    b. All
      out
      of pocket expenses incurred by Consultant and/or its associates shall be
      reimbursed by the Company. If the RTO is not consummated, Lorain agrees to
      reimburse Heritage for all out of pocket expenses incurred up to the date it
      is
      determined the RTO will not be effected. Travel expenses will be incurred at
      a
      Business Class level of service. Besides travel in the US, it is expected that
      the Spokesperson will visit company’s China locations(s) two (2) times during
      the term of the agreement. Maximum travel expenses will be $25,000 unless
      specifically authorized by Lorain. 

    

    4. Representations
      and Warranties.
      Consultant represents and warrants (i) that Consultant has no obligations,
      legal
      or otherwise, inconsistent with the terms of this Agreement or with Consultant's
      undertaking this relationship with the Company, (ii) that Consultant will not
      use in the performance of its responsibilities under this Agreement any
      confidential information or trade secrets of any other person or entity and
      (iii) that Consultant has not entered into or will enter into any agreement
      (whether oral or written) in conflict with this Agreement.

     

    5. Indemnification.
      Company
      agrees to indemnify and save harmless the Consultant, as well as Consultant’s
      officers, employees, and agents from all suits, actions, losses, damages,
      claims, or liability of any character, type or description, including without
      limiting the generality of the foregoing all expenses of litigation, court
      costs, and attorney’s fees arising out of or occasioned by the acts of Lorain,
      its agents or employees, or occasioned by the acts of Consultant in the
      execution or performance of the services provided by the Consultant, at any
      time
      from the execution date of this Agreement until such time after any pertinent
      limitations period expires after the termination of this Agreement.

    .

    As
      part
      of this indemnification, Lorain agrees to defend and hold harmless Consultant
      from and against any and all liabilities arising from the consulting agreement.
      As such, Consultant shall not be liable to Lorain , or to anyone who may claim
      any right due to its relationship with Lorain , for any acts or omissions on
      the
      part of the Consultant or the agents or employees of the Consultant in the
      performance of Consultant’s services under this agreement. Lorain shall hold
      Consultant free and harmless from any obligations, costs, claims, judgments,
      attorney’s fees, or attachments arising from or growing out of the services
      rendered to the Company.

    

    Lorain
      agrees to list Mr. James H. Groh, Spokesperson and Mr. Gerard Pascale on any
      Directors and Officers Liability Insurance policies that the Company may retain
      for a period of 6 years from the date of this Agreement. 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    6. Governing
      Law.
      This
      Agreement shall be governed by the laws of the Peoples Republic of China and
      any
      dispute arising hereunder shall be submitted for binding arbitration to the
      China Foreign Trade Commission Arbitration Committee in Shanghai.

     

    It
      is
      understood that this Agreement will be prepared and executed in both the English
      and Chinese languages, with both versions having legal efficacy. If a dispute
      arises as to the interpretation of a particular provision of this Agreement
      because of differences between the Chinese and English languages, the dispute
      shall be resolved in accordance with the provisions of the preceding
      paragraph.
      

    

    7. Miscellaneous.
      If any
      action at law or in equity is necessary to enforce or interpret the terms of
      this Agreement, the prevailing party shall be entitled to reasonable attorney's
      fees, costs. This Agreement shall be binding on and inure to the benefit of
      the
      parties to it and their respective successors and assigns.

    

    Executed
      at Hilton Head Island, SC, USA on the day and year first above written.

     

    
      	 International
              Lorain Holding Inc. 
              
                (Corporate
                  Seal) 

              

            	 	 	Heritage
              Management Consultants, Inc 
              
                (Corporate
                  Seal)

              

            
	 	 	 	 
	
              By
                : /s/ Hisashi Akazawa 

            	 	 	By: /s/ James H. Groh
	
              
                

              

              Hisashi
                Akazawa 

            	 	 	
              
                

              

              James
                H. Groh, President

            
	 	 	 	 
	
              Date
                : March 8, 2007 

            	 	 	
              March
                8, 2007

            

    

     

    
      
        
        

      

      
        4Exhibit 10.1

    Exhibit
      10.1

     

    AMENDED
      AND RESTATED EMPLOYMENT AGREEMENT

    

    

    This
      Employment Agreement (this “Agreement”)
      is made
      as of this 27th
      day of
      April, 2007, by and between BE Aerospace, Inc., a Delaware corporation (the
      “Company”)
      and
      Michael B. Baughan (the “Executive”).

    

    RECITALS

    

    WHEREAS,
      the Executive and the Company entered into an Amended and Restated Employment
      Agreement dated as of December 31, 2005 (the “Employment
      Agreement”)
      pursuant to which the Executive serves as the Company’s President and Chief
      Operating Officer; 

    

    WHEREAS,
      the Executive, having provided services to the Company since May 28, 1999,
      agrees to provide services for an additional period as provided herein and
      the
      Company wishes to procure such services; and 

    

    WHEREAS,
      the Executive and the Company wish to amend and restate the Employment Agreement
      in its entirety. 

    

    NOW,
      THEREFORE, in consideration of the mutual promises hereinafter set forth, the
      parties agree as follows:

    

    1.
      Reference
      to Employment Agreement.
      The
      Employment Agreement is hereby restated, superseded and replaced in its entirety
      by this Agreement.

    

    2.
      Employment.
      Unless
      otherwise terminated pursuant to the provisions of Section 5 hereof, the
      Executive shall provide to the Company services hereunder during the term of
      his
      employment under this Agreement, which shall be the period ending three (3)
      years from any date as of which the term is being determined (the “Employment
      Term”).
      The
      date on which the Employment Term ends, including any extensions thereof, is
      sometimes hereinafter referred to as the “Expiration
      Date.”

    

    3.
      Position
      and Duties.
      The
      Executive shall serve the Company in the capacity of President and Chief
      Operating Officer, or in such other positions as the Chief Executive Officer
      of
      the Company, his designee or the Board of Directors of the Company (the
“Board”)
      may
      designate from time to time, and shall be accountable to, and shall have such
      other powers, duties and responsibilities, consistent with this capacity, as
      the
      Chief Executive Officer of the Company, his designee or the Board shall
      determine in its sole discretion. The Executive shall report directly to the
      Chief Executive Officer of the Company. The Executive shall perform and
      discharge, faithfully, diligently and to the best of his ability, such duties
      and responsibilities. The Executive shall devote substantially all of his
      working time and efforts to the business and affairs of the Company. Consistent
      with the Company’s practices, the Executive’s performance will be reviewed by
      the Chief Executive Officer on at least an annual basis. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    4.
      Compensation.

    

    (a)     Salary.
      During
      the Employment Term, the Executive shall receive a salary (the “Salary”)
      payable
      at the rate of four hundred eighty five thousand dollars ($485,000) per annum.
      Such rate shall be subject to adjustment from time to time by the Board;
provided,
      however,
      that it
      shall at no time be adjusted below the Salary for the preceding year. On January
      1st
      of each
      year during the Employment Term, the Salary shall be increased by an amount
      not
      less than the amount determined by applying to the Salary then in effect the
      percentage increase in the U.S. Bureau of Labor Statistics Consumer Price Index
      Revised - Urban Wage Earners and Clerical Workers - National - All Items
      (1982-84=100) (the “Index”)
      for the
      twelve (12) month period (January through December) immediately preceding such
      January 1st. If the Index is no longer issued, the Board and the Executive
      shall
      agree upon a substitute adjustment index issued by such agency that most
      reasonably reflects the criteria utilized in the most recent issue of the Index.
      Except as otherwise provided in this Agreement, the Salary shall be payable
      biweekly or in accordance with the Company’s current payroll practices, less all
      required deductions.

    

    (b)    Incentive
      Bonus.
      During
      the Employment Term, the Executive may receive an incentive bonus (the
“Bonus”)
      of up
      to 120% of the Salary for each fiscal year or portion thereof during which
      the
      Executive has been employed hereunder as determined by the Board at the end
      of
      the applicable fiscal year in its sole discretion.

    

    (c)    Expenses.
      During
      the Employment Term, the Executive shall be entitled to receive prompt
      reimbursement for all reasonable business expenses incurred by him on behalf
      of
      the Company in accordance with the Company’s policies in effect from time to
      time.

    

    (d)    Benefits.
      During
      the Employment Term, the Executive shall be entitled to participate in or
      receive benefits under any life or disability insurance, health, pension,
      retirement, accident, and other employee benefit plans, programs and
      arrangements made generally available by the Company to its executives, subject
      to and on a basis consistent with the terms, conditions and overall
      administration of such plans and arrangements. In accordance with the Company
      policies as in effect from time to time, the Executive shall also be entitled
      to
      paid vacation in any fiscal year during the Employment Term as well as all
      paid
      holidays given by the Company to its employees. In
      addition, upon termination of Executive’s employment with the Company due to his
      death or Incapacity or contemporaneously with a Change of Control, the Executive
      and his spouse and eligible dependents shall be entitled on similar terms and
      conditions as active executives, for a period of two (2) years, to participate
      in all medical, dental and health benefit plans available to the Company’s
      executive officers from time to time to the extent the Company plans constitute
      welfare plans for purposes of Section
      409A of the Internal Revenue Code of 1986, as amended and the regulations and
      guidance promulgated thereunder (the “Code”).

     

    
      
        
        

      

      
        -
          2
          -

        
          

        

      

      
        
        

      

    

    
 

    (e)    Automobile.
      During
      the Employment Term, the Executive shall be furnished with an automobile
      allowance of one thousand one hundred dollars ($1,100) per month.

    

    (f)    Equity
      Awards.
      During
      the employment term, the Executive shall be eligible to participate in the
      Company's equity award program with the timing and amount of equity awards
      determined by the Board in its sole discretion. Notwithstanding any provision
      in
      the applicable award documents, the Executive's equity awards will immediately
      become fully vested and unrestricted (i) upon the termination of the Executive's
      employment by the Company without Cause or due to the Executive's death or
      Incapacity (as defined below) and (ii) upon a Change of Control. 

    

    5.
      Termination
      and Compensation Thereon.
      

    

    (a)    Termination.
      Subject
      to the terms and conditions of this Agreement, the Executive’s employment
      pursuant to this Agreement may be terminated either by the Executive or the
      Company at any time and for any reason. The term “Termination
      Date”
shall
      mean the date on which a termination is to be effective pursuant to the notice
      of termination given by the party terminating the employment
      relationship.

    

    (b)    Death.
      

    (i)    
Executive’s
      employment hereunder shall terminate upon his death. In such event, the Company
      shall, within thirty (30) days following the date of death, pay to such person
      as the Executive shall have designated in a notice filed with the Company,
      or,
      if no such person shall have been designated, to his estate, a lump sum amount
      equal to (i) the Salary (at the rate in effect as of the Termination Date)
      that
      would have been due to the Executive had this Agreement been in effect and
      he
      remained employed from the date of his death until the Expiration Date, (ii)
      any
      accrued and unpaid Salary through the date of death, and (iii) any bonuses
      declared to be payable to Executive for any fiscal periods of the Company ending
      prior to his date of death.

    

    (ii)    Upon
      Executive’s death during or after the Employment Term, the Company shall, within
      thirty (30) days following the date of death, also pay to such person as
      Executive shall have designated in a notice filed with the Company, or if no
      such person shall have been designated, to his estate, a lump-sum death benefit
      in the amount of $1.5 million in accordance with the Death Benefit Agreement
      attached as Exhibit
      A
      hereto.

    

    (iii)   Following
      the Executive’s death, his spouse and eligible dependents shall be entitled to
      continuation of medical, dental and health benefits for two (2) years pursuant
      to Section 4(d) hereof.

    

    (iv)   Upon
      Executive’s death, the Retirement Compensation provided in Section 5(h) shall
      vest in full and the Company shall pay to such
      person as the Executive shall have designated in a notice filed with the
      Company, or, if no such person shall have been designated, to his estate,
a
      lump-sum
      amount equal to the entire remaining unpaid balance of the Retirement
      Compensation accrued through his date of death. 

    

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

       

       

    

    (c)    Incapacity.
      If, in
      the reasonable judgment of the Board, as a result of the Executive's incapacity
      due to physical or mental illness or otherwise, the Executive shall for at
      least
      six (6) consecutive months during the Employment Term have been unable to
      perform his duties under this Agreement on a full-time basis, the Company may
      terminate the Executive's employment hereunder by notice to the Executive.
      In
      such event, the Company shall (i) through the Expiration Date, continue to
      pay
      the Executive his Salary and automobile allowance in accordance with the
      Company’s payroll practices (at the rate in effect as of the Termination Date),
      (ii) provide
      the Executive and his spouse and eligible dependents with continuation of
      medical, dental and health benefits for two (2) years pursuant to Section 4(d)
      hereof and (iii) pay to the Executive (A) any accrued and unpaid Salary through
      the Termination Date and (B) any bonuses declared to be payable to Executive
      for
      any fiscal periods ending prior to the Termination Date. In addition, upon
      a
      termination due to incapacity, the Retirement Compensation provided in Section
      5(h) shall vest in full and the Company shall pay to the Executive a lump-sum
      amount equal to the entire remaining unpaid balance of the Retirement
      Compensation accrued through the Termination Date. Any
      dispute
      between the Board and the Executive with respect to the Executive's incapacity
      shall be settled by reference to a competent medical authority mutually agreed
      to by the Board and the Executive, whose decision shall be binding on all
      parties.

    

    (d)    Termination
      by the Company for Cause; Resignation by the Executive.
      If the
      Executive's employment is terminated by the Company for Cause or the Executive
      resigns his employment for any reason, the Company shall have no further
      obligations to the Executive hereunder after the Termination Date, except for
      payment of any accrued and unpaid Salary through the Termination Date. If the
      Executive’s employment is (i) terminated for Cause at any time or (ii) the
      Executive resigns his employment for any reason prior to the Vesting Date (as
      defined in Section 5(h)(ii), the Executive shall immediately forfeit all rights
      to the Retirement Compensation provide for in Section 5(h). For purposes of
      this
      Agreement, "Cause"
      shall
      mean (i) the Executive's material failure, refusal or neglect to perform and
      discharge his duties and responsibilities hereunder (including duties prescribed
      by the Board pursuant to Section 3), other material breach of the terms
      hereof, or breach of any fiduciary duties he may have because of any position
      he
      holds with the Company or any subsidiary or affiliate thereof or (ii) a felony
      conviction or a conviction for any crime involving the Executive's personal
      dishonesty or moral turpitude. 

    

    (e)    Termination
      Without Cause.
      The
      Company may terminate the Executive’s employment hereunder at any time without
      Cause. In such event, the Company shall pay to the Executive (i) any accrued
      and
      unpaid Salary through the Termination Date, (ii) any bonuses declared to be
      payable to Executive for any fiscal periods of the Company ending prior to
      the
      Termination Date and (iii) a lump sum equal to his Salary from the Termination
      Date through the Expiration Date. In
      addition, upon the termination of the Executive’s employment without Cause, the
      Retirement Compensation provided in Section 5(h) shall vest in full and
      the
      Company shall pay to the Executive a lump-sum amount equal to the entire
      remaining unpaid balance of the Retirement Compensation accrued through the
      Termination Date. 

    

    
      
        
        

      

      
        -
          4
          -

        
          

        

      

      
        
        

      

       

    

    (f)    Change
      of Control.
      

    

    (i)    
Upon
      a
“Change of Control”, the Retirement Compensation provided in Section 5(h) shall
      vest in full. In addition, if contemporaneously with a Change of Control, the
      Executive’s employment is terminated without Cause, within thirty (30) days
      after the Termination Date, the Company or its successor in interest shall
      (i)
      pay to the Executive a lump-sum amount equal to three (3) times the Executive’s
      Salary (at the rate in effect as of the Termination Date), which lump sum amount
      shall not be pro-rated, (ii) provide the Executive and his spouse and eligible
      dependents with continuation of medical, dental and health benefits for two
      (2)
      years pursuant to Section 4(d) hereof and (iii) pay to the Executive a lump-sum
      amount equal to the entire remaining unpaid balance of the Retirement
      Compensation accrued through the Termination Date. For purposes of this
      Agreement, a “Change
      of Control”
shall
      have the meaning ascribed thereto under Section 409A the U.S. Internal Revenue
      Code of 1986, as amended (the “Code”)
      and the
      regulations and guidance promulgated thereunder. The
      obligations of the Company pursuant to this Section 5(f) shall survive any
      termination of this Agreement or the Executive’s employment or any resignation
      of such employment by the Executive pursuant to this Section 5(f). 

    

    (ii)    Grantor
      Trust.
      If, at
      any time during the Employment Term the Board determines that a Change of
      Control is likely to occur, the Company hereby agrees to establish a grantor
      trust pursuant to Subpart E, part I, subchapter J, chapter I, subtitle A of
      the
      Code. The grantor trust shall serve as a vehicle for accumulating assets to
      secure its potential obligations to the Executive in the event of a Change
      of
      Control. Notwithstanding the establishment of a trust, the Company’s obligation
      upon a Change of Control may be paid from the general assets of the Company
      or
      from assets of the trust. Any trust so established and any assets held therein
      will be subject to the claims of the Company’s creditors.

    

    (g)    Certain
      Additional Payments by the Company.

     

    (i)    
Anything
      in this Agreement to the contrary notwithstanding, in the event it shall be
      determined that any payment, distribution or other action by the Company to
      or
      for the benefit of the Executive (whether paid or payable or distributed or
      distributable pursuant to the terms of this Agreement or otherwise) including,
      without limitation any additional payments required under this Section 5(g)
      (a
      "Payment")
      would
      be subject to an excise tax imposed by Section 4999 of the Code, or any interest
      or penalties are incurred by the Executive with respect to any such excise
      tax
      (such excise tax, together with any such interest and penalties, are hereinafter
      collectively referred to as the "Excise
      Tax"),
      the
      Company shall make a payment to the Executive (a "Gross-Up
      Payment")
      in an
      amount such that after payment by the Executive of all taxes (including any
      Excise Tax) imposed upon the Gross-Up Payment, the Executive retains (or has
      had
      paid to the Internal Revenue Service on his behalf) an amount of the Gross-Up
      Payment equal to the sum of (x) the Excise Tax imposed upon the Payments and
      (y)
      the product of any deductions disallowed because of the inclusion of the
      Gross-Up Payment in the Executive’s adjusted gross income and the highest
      applicable marginal rate of federal income taxation for the calendar year in
      which the Gross-Up Payment is to be made. For purposes of determining the amount
      of the Gross-Up Payment, the Executive shall be deemed to (i) pay federal income
      taxes at the at the highest marginal rate of taxation for the calendar year
      in
      which the Gross-Up Payment is to be made, and (ii) pay applicable state and
      local income taxes at the highest marginal rates of taxation for the calendar
      year in which the Gross-Up Payment is to be made, net of the maximum reduction
      in federal income taxes which could be obtained from deduction of such state
      and
      local income taxes.

     

    
      
        
        

      

      
        -
          5
          -

        
          

        

      

      
        
        

      

       

       

    

    (ii)    Subject
      to
      the provisions of paragraph (iii) of this Section 5(g) all determinations
      required to be made under this Section 5(g), including whether and when a
      Gross-Up Payment is required and the amount of such Gross-Up Payment and the
      assumptions to be utilized in arriving at such determination, shall be made
      by
      Deloitte & Touche LLP (the "Accounting
      Firm")
      which
      shall provide detailed supporting calculations both to the Company and the
      Executive within fifteen (15) days of the receipt of notice from the Executive
      that there has been a Payment, or such earlier time as is requested by the
      Company. In the event that the Accounting Firm is serving as accountant or
      auditor for the individual, entity or group effecting the Change of Control,
      the
      Executive shall appoint another nationally recognized accounting firm to make
      the determinations required hereunder (which accounting firm shall then be
      referred to as the Accounting Firm hereunder). All fees and expenses of the
      Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment,
      as
      determined pursuant to this Section 5(g), shall be paid by the Company to the
      Executive within five (5) days of the receipt of the Accounting Firm's
      determination. If the Accounting Firm determines that no Excise Tax is payable
      by the Executive, it shall furnish the Executive with a written opinion that
      failure to report the Excise Tax on the Executive's applicable federal income
      tax return would not result in the imposition of a negligence or similar
      penalty. Any determination by the Accounting Firm shall be binding upon the
      Company and the Executive. As a result of the uncertainty in the application
      of
      Section 4999 of the Code at the time of the initial determination by the
      Accounting Firm hereunder, it is possible that Gross-Up Payments which will
      not
      have been made by the Company should have been made ("Underpayment"),
      consistent with the calculations required to be made hereunder. In the event
      that the Company exhausts its remedies pursuant to Section 5(g) and the
      Executive thereafter is required to make a payment of any Excise Tax, the
      Accounting Firm shall determine the amount of the Underpayment that has occurred
      and any such Underpayment shall be promptly paid by the Company to or for the
      benefit of the Executive.

     

    (iii)   The
      Executive shall notify the Company in writing of any claim by the Internal
      Revenue Service that, if successful, would require the payment by the Company
      of
      the Gross-Up Payment. Such notification shall be given as soon as practicable
      but no later than ten (10) days after
      the
      Executive is informed in writing of such claim and shall apprise the Company
      of
      the nature of such claim and the date on which such claim is requested to be
      paid. The Executive shall not pay such claim prior to the expiration of the
      thirty (30) day period
      following the date on which the Executive gives such notice to the Company
      (or
      such shorter period ending on the date that any payment of taxes with respect
      to
      such claim is due). If the Company notifies the Executive in writing prior
      to
      the expiration of such period that it desires to contest such claim, the
      Executive shall;

     

    
      
        
        

      

      
        -
          6
          -

        
          

        

      

      
        
        

      

       

       

    

    (A)    give
      the
      Company any information reasonably requested by the Company relating to such
      claim;

     

    (B)    take
      such
      action in connection with contesting such claim as the Company shall reasonably
      request in writing from time to time, including, without limitation, accepting
      legal representation with respect to such claim by an attorney reasonably
      selected by the Company;

     

    (C)    cooperate
      with the Company in good faith in order effectively to contest such claim;
      and

     

    (D)    permit
      the
      Company to participate in any proceedings relating to such claim; provided,
      however,
      that the
      Company shall bear and pay directly all costs and expenses (including additional
      interest and penalties) incurred in connection with such contest and shall
      indemnify and hold the Executive harmless, on an after-tax basis, for any Excise
      Tax or income tax (including interest and penalties with respect thereto)
      imposed as a result of such representation and payment of costs and expenses.
      Without limitation on the foregoing provisions of this Section 5(g)(iii), the
      Company shall control all proceedings taken in connection with such contest
      and,
      at its sole option, may pursue or forego any and all administrative appeals,
      proceedings, hearings and conferences with the taxing authority in respect
      of
      such claim and may, at its sole option, either direct the Executive to pay
      the
      tax claimed and sue for a refund or contest the claim in any permissible manner,
      and the Executive agrees to prosecute such contest to a determination before
      any
      administrative tribunal, in a court of initial jurisdiction and in one or more
      appellate courts, as the Company shall determine; provided,
      however,
      that if
      the Company directs the Executive to pay such claim and sue for a refund, the
      Company shall advance the amount of such payment to the Executive, on an
      interest-free basis and shall indemnify and hold the Executive harmless, on
      an
      after-tax basis, from any Excise Tax or income tax (including interest or
      penalties with respect thereto) imposed with respect to such advance or with
      respect to any imputed income with respect to such advance; and provided further
      that any
      extension of the statute of limitations relating to payment of taxes for the
      taxable year of the Executive with respect to which such contested amount is
      claimed to be due is limited solely to such contested amount. Furthermore,
      the
      Company's control of the contest shall be limited to issues with respect to
      which a Gross-Up Payment would be payable hereunder and the Executive shall
      be
      entitled to settle or contest, as the case may be, any other issue raised by
      the
      Internal Revenue Service or any other taxing authority.

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

       

       

    

    (iv)   If,
      after
      the receipt by the Executive of an amount advanced by the Company pursuant
      to
      Section 5(g)(iii),
      the
      Executive becomes entitled to receive any refund with respect to such claim,
      the
      Executive shall (subject to the Company's complying with the requirements of
      Section 5(g)(iii))
      promptly
      pay to the Company the amount of such refund (together with any interest paid
      or
      credited thereon after taxes applicable thereto). If, after the receipt by
      the
      Executive of an amount advanced by the Company pursuant to Section 5(g)(iii),
      a
      determination is made that the Executive shall not be entitled to any refund
      with respect to such claim and the Company does not notify the Executive in
      writing of its intent to contest such denial of refund prior to the expiration
      of thirty (30) days after such determination, then such advance shall be
      forgiven and shall not be required to be repaid and the amount of such advance
      shall offset, to the extent thereof, the amount of Gross-Up Payment required
      to
      be paid.

     

    (h)    Retirement
      Compensation

     

    (i)  Subject
      to
      vesting pursuant to Section 5(h)(ii), if Executive’s employment is terminated
      for any reason other than Cause, the Company shall pay to Executive a lump
      sum
      amount equal to the amount by which (A) the product of (1) one-half multiplied
      by Executive’s average annual salary for the three (3) year period preceding the
      Termination Date times (2) the number of years (including any partial year)
      since April 27, 2007 (the “Retirement
      Compensation”)
      exceeds
      (B) the sum of any amounts previously distributed to Executive pursuant to
      Sections 5(h)(iii) and (iv). The lump sum amount to be paid shall not be
      present-valued or otherwise reduced by use of any other discount or discounting
      method. To the extent vested, the payment will be made to Executive within
      five
      (5) business days following the Termination Date. 

     

    (ii)  The
      Retirement Compensation will vest in full on April 26, 2012 (the “Vesting
      Date”)
      provided that the Executive remains continuously employed through the Vesting
      Date. In addition the Retirement Compensation will vest in full upon (i) the
      Executive’s termination of employment due to (A) death pursuant to Section 5(b),
      (B) incapacity pursuant to Section 5(c) or (C) by the Company without Cause
      pursuant to Section 5(e) and (ii) a Change of Control. Except as otherwise
      provided herein, prior to vesting pursuant to this Section 5(h)(ii), the
      Executive’s rights to the Retirement Compensation shall be the mere contractual
      right of an unsecured creditor. Prior to the Vesting Date the Company may elect
      to establish a trust pursuant to Subpart E, part I, subchapter J, chapter I,
      subtitle A of the Code. Any trust so established and any assets held therein
      will be subject to the claims of the Company’s creditors. 

     

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

       

    

     

    (iii)  Within
      ninety (90) business days following the Vesting Date, the Company shall
      establish a trust (the “Retirement
      Trust”)
      for the
      remaining duration of the Employment Term, and, commencing on the Vesting Date
      and on a quarterly basis, thereafter (each a “Contribution
      Date”)
      the
      Company shall contribute to the Retirement Trust for the benefit of the
      Executive an amount equal to (A) the Retirement Compensation that would be
      payable to Executive under Section 5(h)(i) if the Contribution Date was his
      Termination Date minus (B) the total of all contributions made to the Retirement
      Trust by the Company as of such Contribution Date. The Retirement Trust to
      which
      the Company shall make these contributions shall be irrevocable. The Retirement
      Trust shall provide that the Executive may withdraw from the Retirement Trust,
      within the thirty (30)-day period
      beginning on the date on which he receives notice from the Company that the
      Company has made a contribution pursuant to this Section 5(h)(iv) an amount
      up
      to but not to exceed the amount of that contribution. If and to the extent
      that
      the Executive fails to exercise this withdrawal right within the thirty (30)-day
      periods, such withdrawal right shall lapse. The Retirement Trust also shall
      contain such other provisions as the Company and the Executive reasonably agree
      are necessary in order for the Retirement Trust to qualify as a grantor trust
      under Section 671 of the Code with the Executive as the grantor. The trust
      agreement for the Retirement Trust shall provide that any assets remaining
      in
      the Retirement Trust, after payment of all the retirement compensation payable
      pursuant to this Section 5(h)(iii), shall be payable to the Executive, and
      that
      prior to payment of such retirement compensation, the assets of the Retirement
      Trust shall be exempt from the claims of the Company’s creditors.

     

    (iv)  As
      of the
      last day of each calendar quarter ending on or after the Vesting Date, during
      the Employment Term, the trustee of the Retirement Trust shall be required
      to
      distribute to Executive 25% of the amount of the Assumed Taxes that the Company
      reasonably estimates will be payable by Executive for the calendar year for
      which the distribution is being made and as a result of his beneficial interest
      in the Retirement Trust. For this purpose, the term “Assumed
      Taxes”
shall
      mean the federal, state and local income and employment taxes that would be
      payable by Executive for the year in question, assuming that the amount taxable
      would be subject to the highest federal and applicable state and local income
      and employment tax rates.

     

    6.
      Amendments.
      No
      amendment to this Agreement or any schedule hereto shall be effective unless
      it
      shall be in writing and signed by each party hereto.

    

    7. Notices.
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed given when delivered personally or sent by telecopy or three days after
      being mailed by registered or certified mail (return receipt requested) to
      the
      parties at the following addresses (or at such other address for a party as
      shall be specified by like notice):

    

    If
      to the
      Company, to it at:

    

    BE
      Aerospace, Inc.

    1400
      Corporate Center Way

    Wellington,
      FL 33414

    Attention:
      Chief Executive Officer

    

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

       

    

    with
      a
      copy to:

    

    BE
      Aerospace, Inc.

    1400
      Corporate Center Way

    Wellington,
      FL 33414

    Attention:
      General Counsel

    

    If
      to the
      Executive, to him at:

    

    Michael
      B.
      Baughan

    343
      Fairfax Drive

    Winston-Salem,
      NC 27104

     

    8. Unfunded
      Status.
      This
      Agreement is intended to constitute an unfunded plan for incentive compensation.
      Except with respect to the Retirement Compensation following the Vesting Date,
      nothing contained herein shall give the Executive any rights that are greater
      than those of a general unsecured creditor of the Company. In its sole
      discretion, the Stock Option and Compensation Committee of the Board may
      authorize the creation of trusts, acquisition of life insurance policies or
      other arrangements to meet the obligations created under this
      Agreement.

    

    9. Entire
      Agreement.
      This
      Agreement and the Option Agreement constitute the entire agreement among the
      parties hereto pertaining to the subject matter hereof and supersedes all prior
      and contemporaneous agreements, understandings, negotiations and discussions,
      whether oral or written, of the parties; provided,
      however,
      that
      this Agreement shall not supersede the Proprietary Rights Agreement dated as
      of
      the date hereof between the Executive and the Company attached as Exhibit
      A
      which is
      incorporated herein by reference.

    

    10. Headings.
      The
      headings in this Agreement are for convenience of reference only and shall
      not
      alter or otherwise affect the meaning hereof. 

    

    11.
      Counterparts.
      This
      Agreement may be executed in any number of counterparts which together shall
      constitute one instrument.

    

    12.
      Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Florida.

    

    13.
      Withholding.
      Without
      limiting the effect of Sections 5(g) and 15 hereof, all payment made by the
      Company under this Agreement shall be reduced by any tax or other amounts
      required to be withheld by the Company under applicable law.

    

    14.
      Legal
      Fees.
      In the
      event of a dispute between the parties with respect to any payments due
      hereunder in connection with a Change of Control, the Company will pay the
      costs
      of any legal fees and related expenses incurred in connection with such dispute.
      Such costs and expenses shall be advanced to the Executive currently as
      reasonably required to continue such action or proceeding.  

    

    
      
        
        

      

      
        -
          10-

        
          

        

      

      
        
        

      

    

     

     

    15.
      Section
      409A.
      

    

    (a)
      Notwithstanding any provision of this Agreement to the contrary, if the
      Executive is a “specified employee” as defined in Section 409A of the Code he
      shall not be entitled to any payments upon a termination of his employment
      until
      the earlier of (i) the date which is the first business day following the date
      that is six months after the Executive’s termination of employment for any
      reason other than death or (ii) the Executive’s date of death. The provisions of
      this Section 14(a) shall only apply if required to comply with Section 409A
      of
      the Code.

    

    (b)
      If any
      provision of this Agreement contravenes any regulations or Treasury guidance
      promulgated under Section 409A of the Code, or could cause any amounts or
      benefits hereunder to be subject to taxes, interest and penalties under Section
      409A of the Code, the Company may, in its sole discretion and without the
      Executive's consent, modify the Agreement to: (i) comply with, or avoid being
      subject to, Section 409A of the Code or (ii) avoid the imposition of taxes,
      interest and penalties under Section 409A of the Code, provided,
      however,
      that
      there shall be maintained, to the maximum extent practicable, the original
      intent and economic benefits to the Executive of the applicable provision
      without contravening the provisions of Section 409A of the Code. This Section
      15(b) does not create an obligation on the part of the Company to modify this
      Agreement and does not guarantee that the amounts or benefits owed under this
      Agreement will not be subject to interest and penalties under Section 409A
      of
      the Code.

    

    (c)
      The
      provisions of Section 5(g) of this Agreement, mutatis
      mutandis,
      shall
      apply to any imposition of taxes on the Executive under Section 409A of the
      Code
      so that the Executive shall be fully grossed up for the amount of, and shall
      not
      be adversely affected by, such taxes.

    

    16.
      Enforceability;
      Waiver.
      The
      invalidity and unenforceability of any term or provision hereof shall not affect
      the validity or enforceability of any other term or provision hereof. The
      Executive's or the Company's failure to insist upon strict compliance with
      any
      provision hereof of this Agreement or the failure to assert any right that
      the
      Executive or the Company may have hereunder, shall not be deemed to be a waiver
      of such provision or right or any other provision or right of this Agreement.
      Similarly, the waiver by any party hereto of a breach of any provision of this
      Agreement by the other party will not operate or be construed as a waiver of
      any
      other or subsequent breach by such other party.

    

    17.
      Assignment.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective heirs, successors and permitted assigns. This Agreement
      may
      be assigned by the Company. The Executive may not assign or delegate his duties
      under this Agreement without the Company’s prior written approval.

     

    
      
        
        

      

      
        -
          11
          -

        
          

        

      

      
        
        

      

    

    
 

    18.
      Survival.
      The
      entitlement of the Executive and the obligations of the Company pursuant to
      Sections 5 and 15 hereof and the provisions of Section 6-13 and 15-18 hereof
      shall each survive any termination or expiration of this Agreement, or any
      termination or resignation of the Executive's employment, as the case may
      be.

    

    IN
      WITNESS
      WHEREOF, the parties hereto have executed this Agreement as of the date first
      written above.

    

      
        	 	
                EXECUTIVE

              
	 	 
	 	 
	 	
                ____________________________________

              
	 	
                Michael
                  B. Baughan

              
	 	 
	 	 
	 	
                BE
                  AEROSPACE, INC.

              
	 	 
	 	 
	 	
                _________________________________

              
	 	
                Name:

              
	 	
                Title:

              

      

       

       

      
        
          
          

        

        
          -
            12
            -

          
            

          

        

        
          
          

        

      

       

    

    

    Exhibit
      A

    

    Death
      Benefit Agreement

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    Exhibit
      B

    

    Proprietary
      Rights Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]