Document:

EX-10.2

Exhibit 10.2

EXECUTIVE EMPLOYMENT AGREEMENT

                    This Executive Employment Agreement (“Agreement”), dated for reference purposes only as of the
16th day of April, 2008, is entered into by and between Dana Holding Corporation, a
Delaware corporation, with its principal executive office at 4500 Dorr Street, Toledo, Ohio (the
“Company”), and John M. Devine, an individual, residing in California (“Executive”).

                    The Company wishes to employ Executive as Executive Chairman of the Board of Directors of the
Company effective as of February 4, 2008 (the “Effective Date”), and Executive is willing to serve
in such capacity under the terms of this Agreement. Therefore, in consideration of the promises
and respective covenants and agreements of the parties herein contained, and intending to be
legally bound, the parties hereto agree as follows:

	1.	 	Employment. The Company and Executive hereby agree that Executive will be employed
by the Company on the terms set forth in this Agreement.
	 
	2.	 	Term. The employment of Executive by the Company under this Agreement commenced on
the Effective Date and shall continue in effect for an initial one (1) year period (the
“Term”), unless earlier terminated as set forth in Section 6 of this Agreement. The Term may
be renewed for additional one-year periods upon mutual agreement of the parties.
	 
	3.	 	Position and Duties. Executive shall serve as Executive Chairman of the Board of
Directors of the Company and shall have such responsibilities and authority commensurate with
such position as may from time to time be assigned to Executive by the Board of Directors of
the Company. Executive shall devote substantially all his working time and efforts to the
business and affairs of the Company.
	 
	4.	 	Directorship Agreement. Executive shall serve as a Director for the Company while
acting as Executive Chairman of the Board of Directors.
	 
	5.	 	Compensation and Related Matters.

	 	5.1	 	Salary. The Company shall pay to Executive a salary of U.S. $1,000,000 per
year (the “Base Salary”), which rate may be increased from time to time in accordance with
normal business practices of the Company. The Base Salary shall be payable by the Company
in accordance with the normal payroll practices of the Company then in effect.
	 
	 	5.2	 	Bonus. Executive will be eligible for an annual bonus with a target of 150% of
the Base Salary. Executive’s eligibility for the bonus and the amount thereof will be
based on the achievement of performance measures to be set by the Board of Directors. If
the Company terminates Executive’s employment without Cause or if Executive terminates for
Good Reason during the Term, Executive will be entitled to payment of the entire annual
bonus compensation applicable for such Term (whether or not the applicable performance
measures are achieved). If the Company terminates Executive’s employment for Cause during
the Term, Executive will not be entitled to payment of any portion of the annual bonus
compensation for such Term. If Executive’s

 

 

	 	 	 	employment terminates for any other reason during the Term, Executive will at a minimum be
entitled to payment of the annual bonus compensation pro rated to the effective date of
the termination.
	 
	 	5.3	 	Stock Options. The Company has awarded Executive, as of February 4, 2008, a
stock option under the Company’s 2008 Omnibus Incentive Plan (the “2008 Plan”) to purchase
up to 800,000 shares of the Company’s Common Stock (the “Option Shares”) at an exercise
price of $12.75 per share, which is the closing stock price of shares of the Company’s
Common Stock as of the date of the award. The grant of the Option Shares has been
documented in the Nonqualified Stock Option Agreement attached to this Agreement as
Exhibit A. As set forth in the Nonqualified Stock Option Agreement, one-third of
the Option Shares shall vest and become exercisable by Executive on each of August 4, 2008,
August 4, 2009, and August 4, 2010; provided, however, that if Executive dies or becomes
disabled, or in the event of a Change in Control, any unvested Option Shares shall
immediately vest and become exercisable. For purposes of this Agreement and the
Nonqualified Stock Option Agreement, “Change in Control” shall have the meaning provided in
the 2008 Plan. The terms of this Agreement will supercede and take precedence over any
terms of the Nonqualified Stock Option Agreement to the extent the terms of the
Nonqualified Stock Option Agreement are contradictory or inconsistent with the terms of
this Agreement.
	 
	 	5.4	 	Additional Payments.

	 	5.4.1	 	To the extent any compensation received under the Nonqualified Stock
Option 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.
	 
	 	5.4.2	 	Upon any payment to Executive in connection with a Change in Control or a
termination of this Agreement, the Company shall, at the 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 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

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	 	 	 	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 or 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.
	 
	 	5.4.3	 	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).

	 	5.5	 	Temporary Living Expenses; Travel Expenses. For a period of one (1) year
commencing on the Effective Date, the Company shall provide Executive with full access to
the Company’s guest housing and shall also reimburse Executive for Executive’s reasonable
temporary living expenses in or around Toledo, Ohio. Further, the Executive will be
reimbursed for reasonable temporary commuting expenses from his resident in California,
including use of private aircraft up to 30 roundtrips in accordance with accepted
procedures and disclosures. To the extent any benefits received by Executive under this
Section 5.5 is imputed as taxable income to Executive, the Company will pay Executive an
additional amount to alleviate all tax burdens associated with these benefits, including
the tax associated with such additional amounts.
	 
	 	5.6	 	Vacation. In addition to legal holidays observed by the Company, Executive
shall be entitled to twenty (20) days of paid vacation per year, which vacation days shall
accrue and be useable by Executive in accordance with the Company’s standard vacation
policies. Upon termination of employment, the Company will promptly pay Executive any
unused vacation days.
	 
	 	5.7	 	Expenses. During the term of Executive’s employment hereunder, Executive shall
be entitled to receive prompt reimbursement for all reasonable expenses incurred by
Executive in performing services hereunder, including all expenses of travel and living
expenses while away from home on business or at the request or and in the service of the
Company, provided that such expenses are incurred and accounted for in accordance with the
policies and procedures as reasonably established by the Company.
	 
	 	5.8	 	Other Benefits. The Company shall keep in full force and effect, and Executive
shall be entitled to participate in all of the Company’s benefit
plans or arrangements generally applicable to senior executives,
including (without limitation) life and

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	 	 	 	disability insurance, bonus pools, stock options and stock ownership programs.
Notwithstanding the foregoing, Executive will not participate in the Company’s health care
benefit plans. The Company shall not make any changes in such plans and arrangements
which would adversely affect Executive’s rights or benefits thereunder, unless such change
occurs pursuant to a program applicable to all executive officers of the Company and does
not result in a proportionately greater reduction in the rights of or benefits to
Executive as compared with any other executives of the Company.

	6.	 	Termination

	 	6.1	 	Termination Without Cause. Either party may terminate this Agreement without
Cause by giving to the other party thirty (30) days written notice.
	 
	 	6.2	 	Termination Upon Death or Disability. Executive’s employment hereunder shall
terminate upon his death. If, as a result of Executive’s incapacity due to physical or
mental illness, Executive shall have been absent from his duties hereunder on a full-time
basis for the entire period of six consecutive months, and within thirty (30) days after
written notice of termination is given (which may occur before or after the end of such
six-month period), Executive shall not have returned to the performance of his duties
hereunder on a full-time basis, the Company may terminate Executive’s employment hereunder.
	 
	 	6.3	 	Termination by the Company For Cause. The Company may terminate this Agreement
for “Cause” at any time. For purposes of this Agreement “Cause” shall mean and include:
(i) a material misappropriation of any monies or assets or properties of the Company; (ii)
a material breach by Executive of the terms of this Agreement that has not been cured
within thirty (30) days after written notice to Executive of the breach, which notice shall
specify the breach and the nature of conduct necessary to cure such breach; (iii) the
conviction of, or plea of guilty or nolo contendere, by Executive to a felony or to any
criminal offense involving Executive’s moral turpitude; or (iv) willful misconduct of
Executive in connection with the material duties required by this Agreement.
	 
	 	6.4	 	Termination by Executive For Good Reason. Executive may terminate this
Agreement for “Good Reason” at any time. Good Reason shall include (a) any material
adverse change by the Company in Executive’s title, position, authority or reporting
relationships with the Company; (b) the Company’s requirement that Executive relocate to a
location in excess of fifty (50) miles from the Company’s current office location or from
any future office location acceptable to Executive; or (c) any material breach by the
Company of this Agreement which is not cured within thirty (30) days of written notice
thereof by Executive to the Company, which notice shall specify the breach and the nature
of conduct necessary to cure such breach.
	 
	 	6.5	 	Severance Pay. If the Company terminates this Agreement without Cause under
Section 6.1 or if Executive terminates this Agreement for Good Reason under Section 6.4 or
if there is a Change in Control, Company shall pay Executive
(i) for the remainder of the
Term continuation of the Base Salary (in accordance with the normal

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	 	 	 	payroll practices of the Company with respect to Base Salary), and (ii) the annual bonus
payment as provided in Section 5.2. Severance pay shall be due and payable regardless of
whether or not Executive becomes employed during the remainder of the Term.
	 
	 	6.6	 	Return of Company Property Following Termination. Upon termination for
whatever reason, Executive shall return all books, documents, papers, materials and any
other property, including any Company vehicles (including the documentation pertaining
thereto) which relates to the business of the Company (or any subsidiary, affiliated, or
holding companies) which may be in Executive’s possession or under Executive’s power or
control.

	7.	 	Confidentiality. Executive covenants and agrees that he shall not, at any time
during or following the term of his employment hereunder, directly or indirectly divulge or
disclose, to any person not employed by the Company or not engaged to render services to the
Company, except as reasonably appropriate to discharge Executive’s responsibilities under this
Agreement, any confidential information of the Company which has been obtained by or disclosed
to him as a result of his employment by the Company, including without limitation, information
relating to the finances, strategy, organization, operations, inventions, processes, formulae,
plans, devices, compilations of information, methods of distribution, customers, suppliers,
client relationships, marketing strategies or other trade secrets of the Company; provided,
however, that this provision shall not preclude Executive from use or disclosure of
information known generally to the public or of information not considered confidential by
persons engaged in the business conducted by the Company or from disclosure required by law or
court order, if, in the case of such required disclosure, Executive has given the Company
reasonable prior notice in order to permit the Company to take steps to protect the
information from public disclosure. In the event of a breach or threatened breach by
Executive of any of the provisions of this paragraph, the Company, in addition to and not
limitation of any rights, remedies or damages available to the Company at law or in equity,
shall be entitled to a permanent injunction in order to prevent or to restrain any such breach
by Executive, or by Executive’s partners, agents, representatives, servants, employers,
Executive and/or any and all persons directly or indirectly acting for or with him.
	 
	8.	 	Reasonable Cooperation. The executive agrees to make himself reasonably available
to, and to cooperate with the Company and its attorney concerning any pending and future
investigations or litigation matters arising out of or relating to his employment with the
Company or other matters concerning the Company about which the Executive had or has knowledge
or involvement. Cooperation for purposes of this provision will include but not be limited to
i) making himself reasonably available for interviews and discussion with the Company’s
counsel as well as depositions and testimony, ii) assisting the Company in the presentation of
its position in an investigation or administrative proceeding and cooperating fully in the
development and presentation of such defense or position.
	 
	9.	 	Indemnification; Insurance. To the fullest extent permitted by the Company’s charter
documents and applicable law, the Company agrees to defend and indemnify Executive and hold
Executive harmless against any liability that Executive incur within the scope of his service
as an officer and director of the Company. The Company further agrees
to use commercially
reasonable efforts to purchase and maintain adequate Directors’ and Officers’

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	 	 	liability insurance. The terms applicable to the Company’s indemnification and insurance
obligations are more fully set forth in the Director and Officer Indemnification Agreement
between the Company and Executive entered as of the Effective Date of this Agreement and
attached to this Agreement as Exhibit 2.
	 
	10.	 	Change in Control Agreements. The Company shall include Executive in any future
change in control agreements applicable to any other executive officer or director of the
Company.
	 
	11.	 	Notice. For the purposes of this Agreement, notices, demands and all other
communications provided for in the Agreement shall be in writing and shall be deemed to have
been duly given when delivered or (unless otherwise specified) mailed by registered mail,
return receipt requested, postage prepaid, addressed as set forth above, or to such other
address as any party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt.
	 
	12.	 	Miscellaneous.

	 	12.1	 	The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Delaware.
	 
	 	12.2	 	Sections 5.2, 5.4, 6.5, 7, and 8 of this Agreement shall remain in full force and
effect and shall survive the termination of this Agreement.
	 
	 	12.3	 	In any action undertaken to enforce the terms of this Agreement, the prevailing party
shall be reimbursed by the non-prevailing party for such prevailing party’s reasonable
attorneys’ fees and expenses, including the costs of enforcing a judgment.
	 
	 	12.4	 	It is the intent of the parties that this Agreement be administered so as to comply
with Section 409A of the Internal Revenue code and all applicable regulations. The parties
intend that any payment due hereunder shall be delayed as deemed reasonably necessary by
counsel for the Company in order to avoid 409A penalties.

	13.	 	Validity. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement,
which shall remain in full force and effect.

                    IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

	 	 	 	 	 	 	 	 	 
	Dana Holding Corporation	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Robert H. Marcin
	 	 	 	/s/ John M. Devine
	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: Robert H. Marcin
	 	 	 	John M. Devine	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Title: Chief Administrative Officer	 	 	 	 	 	 

6EX-10.3

Exhibit 10.3

EXECUTIVE EMPLOYMENT AGREEMENT

                    This Executive Employment Agreement (“Agreement”), dated for reference purposes only as of the
16th day of April, 2008, is entered into by and between Dana Holding Corporation, a Delaware
corporation, with its principal executive office at 4500 Dorr Street, Toledo, Ohio (the “Company”),
and Robert H. Marcin, an individual, residing in Michigan (“Executive”).

                    The Company wishes to employ Executive as Chief Administrative Officer of the Company
effective as of February 4, 2008 (the “Effective Date”), and Executive is willing to serve in such
capacity under the terms of this Agreement. Therefore, in consideration of the promises and
respective covenants and agreements of the parties herein contained, and intending to be legally
bound, the parties hereto agree as follows:

	1.	 	Employment. The Company and Executive hereby agree that Executive will be employed
by the Company on the terms set forth in this Agreement.
	 
	2.	 	Term. The employment of Executive by the Company under this Agreement commenced on
the Effective Date and shall continue until terminated as set forth in Section 5 of this
Agreement (the “Term”).
	 
	3.	 	Position and Duties. Executive shall serve as Chief Administrative Officer of the
Company and shall have such responsibilities and authority commensurate with such position as
may from time to time be assigned to Executive by the Board of Directors of the Company, the
Executive Chair of the Board of Directors, and/or the Chief Executive Officer. Executive
shall devote substantially all his working time and efforts to the business and affairs of the
Company.
	 
	4.	 	Compensation and Related Matters.

	 	4.1	 	Salary. The Company shall pay to Executive a salary of U.S. $500,000 per year
(the “Base Salary”), which rate may be increased from time to time in accordance with
normal business practices of the Company. The Base Salary shall be payable by the Company
in accordance with the normal payroll practices of the Company then in effect.
	 
	 	4.2	 	Sign-On Bonus. Executive shall receive a cash sign-on bonus in the amount of
U.S. $250,000, half of which has been paid to Executive. The Company shall pay the balance
of the sign-on bonus on February 4, 2009 unless Executive has been terminated by the
Company for Cause or Executive has voluntarily terminated this Agreement without Good
Reason, in which case, Executive shall not be entitled to payment of the remainder of the
sign-on bonus but will be entitled to retain the portion of the sign-on bonus that has
already been paid.
	 
	 	4.3	 	Annual Bonus, Equity Participation and Long Term Incentive Plan. Executive
will be eligible to participate in any annual bonus, stock equity participation and long
term incentive programs generally applicable to senior executives and as approved by the
Board of Directors. Executive’s eligibility for bonuses or other incentives under

 

	 	 	 	any such programs will be based on the recommendation of John Devine, or if John Devine is
no longer employed by the Company or serving the Company as a Director, the Executive
Chair of the Board of Directors or the Chief Executive Officer of the Company, subject to
any other requirements applicable to such programs.
	 
	 	4.4	 	Stock Options. The Company will award Executive, as of April 16, 2008, stock
options under the Company’s 2008 Omnibus Incentive Plan (the “2008 Plan”) to purchase up to
255,000 shares of the Company’s common Stock (the “Option Shares”) at an exercise price to
be determined by the closing stock price of the shares of the Company’s Common Stock as of
the date of the award. The grant of the Option Shares will be documented in the form of
Nonqualified Stock Option Agreement attached to this Agreement as Exhibit A. The
grant of the Option Shares will vest in accordance with Nonqualified Stock Option
Agreement; provided, however, that if Executive dies or becomes disabled, or in the event
of a Change in Control, any unvested Option Shares shall immediately vest and become
exercisable. For purposes of this Agreement and the Nonqualified Stock Option Agreement,
“Change in Control” shall have the meaning provided in the 2008 Plan. The terms of this
Agreement will supercede and take precedence over any terms of the Nonqualified Stock
Option Agreement to the extent the terms of the Nonqualified Stock Option Agreement are
contradictory or inconsistent with the terms of this Agreement.
	 
	 	4.5	 	Termination/Bonus. If the Company terminates Executive’s employment without
Cause or if Executive terminates for Good Reason within eighteen (18) months of the
Effective Date, Executive will be entitled to any bonus compensation Executive would
otherwise have been eligible to receive for the twelve-month period following termination
(whether or not any applicable performance measures are achieved). If the Company
terminates Executive’s employment for Cause during the Term, Executive will not be entitled
to payment of any bonus compensation for the year in which the termination occurred. If
Executive’s employment terminates for any other reason during the Term, Executive will at a
minimum be entitled to payment of the annual bonus compensation pro rated to the effective
date of the termination.
	 
	 	4.6	 	Temporary Living Expenses; Relocation Expenses; Home Sale Assistance.
Executive currently resides in Michigan and intends to, at least for some period of time,
maintain his family residence in Michigan during his employment with the Company.
Executive will also maintain living accommodations in the Toledo, Ohio area and intends to
ship certain household goods and/or vehicles to the Toledo, Ohio area. As an inducement to
Executive to enter into this Agreement and to maintain the living arrangements as described
above, the Company agrees to provide Executive with the following:

	 	4.6.1	 	Temporary Housing and Living Expenses. For a period of one (1)
year commencing on the Effective Date, the Company shall provide Executive with full
access to the Company’s guest housing and shall also reimburse Executive for
Executive’s reasonable temporary living expenses in or around Toledo, Ohio.

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	 	4.6.2	 	Home Sale Assistance. During the Term of this Agreement, the
Company shall provide Executive with home sale assistance through the Company’s
Guaranteed Home Sale Program.
	 
	 	4.6.3	 	Shipment of Household Goods and Automobiles. The Company shall
arrange and pay for the shipment of such household goods and vehicles that Executive
has determined should be shipped from Executive’s former residence in Michigan to the
Toledo, Ohio area, as such benefit is more specifically described in the Company’s
U.S. Domestic Relocation Policy. In addition, during the Term of this Agreement, at
such time as Executive determines to sell his residence in Michigan, the Company
shall arrange and pay for (or provide reimbursement for) the shipment of Executive’s
household goods and vehicles remaining at Executive’s residence in Michigan to
Executive’s subsequent residence. In addition, at the termination of Executive’s
employment with the Company, the Company shall arrange and pay for (or provide
reimbursement for) the shipment of Executive’s household goods and vehicles from the
Toledo, Ohio area to Executive’s subsequent residence.
	 
	 	 	 	The benefits provided to Executive pursuant to this Section 4.4 shall survive the
termination of this Agreement and shall not be subject to any clawback or
repayment policy of the Company; in particular, the repayment requirements set
forth in the Company’s U.S. Domestic Relocation Policy shall not apply to
Executive. To the extent any benefits received by Executive under this Section
5.5 is imputed as taxable income to Executive, the Company will pay Executive an
additional amount to alleviate all tax burdens associated with these benefits,
including the tax associated with such additional amounts.

	 	4.7	 	Vacation. In addition to legal holidays observed by the Company, Executive
shall be entitled to twenty (20) days of paid vacation per year, which vacation days shall
accrue and be useable by Executive in accordance with the Company’s standard vacation
policies. Upon termination of employment, the Company will promptly pay Executive any
unused vacation days.
	 
	 	4.8	 	Expenses. During the term of Executive’s employment hereunder, Executive shall
be entitled to receive prompt reimbursement for all reasonable expenses incurred by
Executive in performing services hereunder, including all expenses of travel and living
expenses while away from home on business or at the request or and in the service of the
Company, provided that such expenses are incurred and accounted for in accordance with the
policies and procedures as reasonably established by the Company.
	 
	 	4.9	 	Other Benefits. The Company shall keep in full force and effect, and Executive
shall be entitled to participate in all of the Company’s benefit plans, perquisites,
allowances and other arrangements generally applicable to senior executives, including
(without limitation) life and disability insurance, bonus pools, stock options and stock
ownership programs. Notwithstanding the foregoing, Executive will not participate in the
Company’s health care benefit plans. The Company shall not make any changes in such plans
and arrangements which would adversely affect Executive’s rights or

3

 

	 	 	 	benefits thereunder, unless such change occurs pursuant to a program applicable to all
executive officers of the Company and does not result in a proportionately greater
reduction in the rights of or benefits to Executive as compared with any other executives
of the Company.

	5.	 	Termination

	 	5.1	 	Termination Without Cause. Either party may terminate this Agreement without
Cause by giving to the other party thirty (30) days written notice.
	 
	 	5.2	 	Termination Upon Death or Disability. Executive’s employment hereunder shall
terminate upon his death. If, as a result of Executive’s incapacity due to physical or
mental illness, Executive shall have been absent from his duties hereunder on a full-time
basis for the entire period of six consecutive months, and within thirty (30) days after
written notice of termination is given (which may occur before or after the end of such
[six]-month period), Executive shall not have returned to the performance of his duties
hereunder on a full-time basis, the Company may terminate Executive’s employment hereunder.
	 
	 	5.3	 	Termination by the Company For Cause. The Company may terminate this Agreement
for “Cause” at any time. For purposes of this Agreement “Cause” shall mean and include:
(i) a material misappropriation of any monies or assets or properties of the Company; (ii)
a material breach by Executive of the terms of this Agreement that has not been cured
within thirty (30) days after written notice to Executive of the breach, which notice shall
specify the breach and the nature of conduct necessary to cure such breach; (iii) the
conviction of, or plea of guilty or nolo contendere, by Executive to a felony or to any
criminal offense involving Executive’s moral turpitude; or (iv) willful misconduct of
Executive in connection with the material duties required by this Agreement.
	 
	 	5.4	 	Termination by Executive For Good Reason. Executive may terminate this
Agreement for “Good Reason” at any time. Good Reason shall include (a) any material
adverse change by the Company in Executive’s title, position, authority or reporting
relationships with the Company; (b) the Company’s requirement that Executive relocate to a
location in excess of fifty (50) miles from the Company’s current office location or from
any future office location acceptable to Executive; or (c) any material breach by the
Company of this Agreement which is not cured within thirty (30) days of written notice
thereof by Executive to the Company, which notice shall specify the breach and the nature
of conduct necessary to cure such breach.
	 
	 	5.5	 	Severance Pay. If within eighteen (18) months of the Effective Date, (i) the
Company terminates this Agreement without Cause under Section 6.1, or (ii) Executive
terminates this Agreement for Good Reason under Section 6.4, or (iii) there is a Change in
Control, Executive shall be entitled to receive Severance Pay from the Company for a period
of twelve (12) months following such termination. The amount of Severance Pay to be paid
to Executive each month shall be equal to Executive’s monthly salary under Section 5.1 at
the time the Agreement is terminated, less applicable payroll tax

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	 	 	 	withholding. In addition, Executive shall be entitled to receive payment for the bonus
compensation as provided in Section 4.3. Severance Pay shall be due and payable
regardless of whether or not Executive becomes employed during such 12-month period. If
after eighteen (18) months of the Effective Date, the Company terminates this Agreement
without Cause under Section 6.1 or Executive terminates this Agreement for Good Reason
under Section 6.4 or there is a Change in Control, Executive shall be entitled to receive
Severance Pay in accordance with the Company’s standard policy in effect at that time.
	 
	 	5.6	 	Return of Company Property Following Termination. Upon termination for
whatever reason, Executive shall return all books, documents, papers, materials and any
other property, including any Company vehicles (including the documentation pertaining
thereto) which relates to the business of the Company (or any subsidiary, affiliated, or
holding companies) which may be in Executive’s possession or under Executive’s power or
control.

	6.	 	Confidentiality. Executive covenants and agrees that he shall not, at any time
during or following the term of his employment hereunder, directly or indirectly divulge or
disclose, to any person not employed by the Company or not engaged to render services to the
Company, except as reasonably appropriate to discharge Executive’s responsibilities under this
Agreement, any confidential information of the Company which has been obtained by or disclosed
to him as a result of his employment by the Company, including without limitation, information
relating to the finances, strategy, organization, operations, inventions, processes, formulae,
plans, devices, compilations of information, methods of distribution, customers, suppliers,
client relationships, marketing strategies or other trade secrets of the Company; provided,
however, that this provision shall not preclude Executive from use or disclosure of
information known generally to the public or from disclosure required by law or court order,
if, in the case of such required disclosure, Executive has given the Company reasonable prior
notice in order to permit the Company to take steps to protect the information from public
disclosure. In the event of a breach or threatened breach by Executive of any of the
provisions of this paragraph, the Company, in addition to and not limitation of any rights,
remedies or damages available to the Company at law or in equity, shall be entitled to a
permanent injunction in order to prevent or to restrain any such breach by Executive, or by
Executive’s partners, agents, representatives, servants, employers, Executive and/or any and
all persons directly or indirectly acting for or with him.
	 
	7.	 	Indemnification; Insurance. To the fullest extent permitted by the Company’s charter
documents and applicable law, the Company agrees to defend and indemnify Executive and hold
Executive harmless against any liability that Executive incur within the scope of his service
as an officer and director of the Company. The Company further agrees to use commercially
reasonable efforts to purchase and maintain adequate Directors’ and Officers’ liability
insurance. The terms applicable to the Company’s indemnification and insurance obligations
are more fully set forth in the Director and Officer Indemnification Agreement between the
Company and Executive entered as of the Effective Date of this Agreement and attached to this
Agreement as Exhibit 2.

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	8.	 	Reasonable Cooperation. The executive agrees to make himself reasonably available
to, and to cooperate with the Company and its attorney concerning any pending and future
investigations or litigation matters arising out of or relating to his employment with the
Company or other matters concerning the Company about which the Executive had or has knowledge
or involvement. Cooperation for purposes of this provision will include but not be limited to
i) making himself reasonably available for interviews and discussion with the Company’s
counsel as well as depositions and testimony, ii) assisting the Company in the presentation of
its position in an investigation or administrative proceeding and cooperating fully in the
development and presentation of such defense or position.
	 
	9.	 	Change in Control Agreements. The Company shall include Executive in any future
change in control agreements applicable to any executive officer or director of the Company.
	 
	10.	 	Notice. For the purposes of this Agreement, notices, demands and all other
communications provided for in the Agreement shall be in writing and shall be deemed to have
been duly given when delivered or (unless otherwise specified) mailed by registered mail,
return receipt requested, postage prepaid, addressed as set forth above, or to such other
address as any party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt.
	 
	11.	 	Miscellaneous.

	 	11.1	 	The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Delaware.
	 
	 	11.2	 	Sections 4.2, 4.3, 4.4, 5.5, 6, and 7 of this Agreement shall remain in full force and
effect and shall survive the termination of this Agreement.
	 
	 	11.3	 	In any action undertaken to enforce the terms of this Agreement, the prevailing party
shall be reimbursed by the non-prevailing party for such prevailing party’s reasonable
attorneys’ fees and expenses, including the costs of enforcing a judgment.
	 
	 	11.4	 	It is the intent of the parties that this Agreement be administered so as to comply
with Section 409A of the Internal Revenue code and all applicable regulations. The parties
intend that any payment due hereunder shall be delayed as deemed reasonably necessary by
counsel for the Company in order to avoid 409A penalties.

	12.	 	Validity. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement,
which shall remain in full force and effect.

                    IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

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	Dana Holding Corporation	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ John M. Devine
	 	 	 	/s/ Robert H. Marcin
	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: John M. Devine
	 	 	 	Robert H. Marcin	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Title: Executive Chairman	 	 	 	 	 	 

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