Document:

lmi8k042408ex101.htm

    Exhibit 10.1

    AMENDMENT TO EMPLOYMENT
AGREEMENT

    

    

    THIS
AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into
effective as of April 24, 2008, by and between LMI AEROSPACE, INC., a
Missouri corporation (the “Corporation”), and Ronald S. Saks
(“Employee”).

    

    WHEREAS, the Corporation and
Employee entered into that certain Employment Agreement (the “Agreement”)
effective as of January 1, 2008; and

    

    WHEREAS, the Corporation and
Employee desire to amend the Agreement as provided in this
Amendment;

    

    NOW, THEREFORE, the
Corporation and Employee hereby agree as follows:

    

    1.           Section
3(B) of the Agreement shall be deleted and replaced with the
following:

    

    “(B)           With
respect to each fiscal year of the Corporation during the term of this
Agreement, (i) provided that Employee is employed under the terms of this
Agreement as of the last day of such fiscal year, and (ii) the Corporation’s
“Annual Income from Operations” (as that term is hereinafter defined) exceeds
the “Threshold” (as that term is hereinafter defined), the Corporation shall pay
to Employee, in addition to the Base Salary, an annual “Performance Bonus” as
determined according to this Section 3(B). As used in this Agreement, the
“Threshold” means, with respect to each fiscal year of the Corporation, Sixty
Percent (60%) of the Corporation’s annual budget for Annual Income from
Operations for such fiscal year; provided, however, that, with respect to fiscal
year 2008 of the Corporation, the Threshold shall be  Nineteen Million
Dollars ($19,000,000).

    

    The
amount of the annual Performance Bonus (if any) with respect to each fiscal
year  shall be equal to:

    

    
      	
               
      

            	
              (1)

            	
              Five
      Percent (5.0%) of the Employee’s Base Salary;
  plus

            

    

    

    
      	
               
      

            	
              (2)

            	
              Sixty-Five
      Hundredths of One Percent (0.650%) of the Corporation’s Annual Income from
      Operations which exceeds the Threshold and is less than or equal to the
      Corporation’s annual budget for Annual Income from Operations;
      plus

            

    

    

    
      	
               
      

            	
              (3)

            	
              One
      Percent (1.0%) of the Corporation’s Annual Income from Operations in
      excess of the Corporation’s annual budget for Annual Income from
      Operations for the year in
question.

            

    

    

    In the
event the Corporation’s Annual Income from Operations for a fiscal year of the
Corporation is less than the Threshold applicable to the year, the Employee
shall not be entitled to a Performance Bonus with respect to such fiscal
year.

    

    For
purposes of the calculation of the Performance Bonus, the Corporation’s “Annual
Income from Operations” means the consolidated Income from Operations of the
Corporation and its subsidiaries, for a given fiscal year, as determined by the
firm of independent certified public accountants providing auditing services to
the Corporation, using generally accepted accounting principles consistently
applied, and calculated without regard to (a) any bonus paid to the
Corporation’s Chairman of the Board and any formula bonuses paid pursuant to
employment contracts, (b) federal and state income tax, (c) any interest expense
or other income and expense as they appear on the Corporation’s annual audited
financial statements, and (d) any income or loss attributable to any corporation
or entity (including the assets of a corporation or entity that constitute an
operating business) acquired by or merged into the Corporation subsequent to the
effective date of this Agreement. The Corporation shall pay to Employee any
Performance Bonus due the Employee hereunder not later than fifteen (15) days
after the receipt by the Corporation of its annual audited financial statements,
which the Corporation expects to receive within ninety (90) days after the end
of each fiscal year of the Corporation.”

    

    2.           All
references in the Agreement to this “Agreement” and any other references of
similar import shall henceforth mean the Agreement as amended by this
Amendment.

    

    3.           In
the event of a conflict between the provisions of this Amendment and the
provisions of the Agreement, the provisions of this Amendment shall
control.  All defined terms appearing in the Agreement shall continue
to have the same meaning as provided in the Agreement, unless modified by this
Amendment.  The defined terms appearing in this Amendment are specific
to this Amendment.

    

    4.           Except
to the extent specifically amended by this Amendment, all of the terms,
provisions, conditions, covenants, representations and warranties contained in
the Agreement shall be and remain in full force and effect and the same are
hereby ratified and confirmed.

    

    5.           This
Amendment shall be binding upon and inure to the benefit of the Corporation and
Employee and their respective heirs, executors, administrators, legal
administrators, successors and permitted assigns.

    

    6.           This
Amendment shall be governed by and construed in accordance with the substantive
laws of the State of Missouri (without reference to conflict of law
principles).

    

    The
parties have executed this Amendment as of the date first
above-written.

     

    
      	 
      	 
      	
              LMI
      AEROSPACE, INC.

              (“Corporation”)

               

            
	 
      	 
      	 
      
	 
      	
              By:

            	 
      /s/ Lawrence E. Dickinson
	 
      	
              Title:

            	 
      Chief Financial Officer
	 
      	 
      
	 
      	 
      
	 
      	 
      	 
      /s/ Ronald S. Saks
	 
      	 
      	
              Ronald
      S. Saks

              (“Employee”)ex43.htm

    EXHIBIT
4.3

     

     

    Supply
Contract

     

    Between

     

    Bangkok Solar CO,L TD and NP
Capital Corp.

     

    Meeting
on the 19'h of
January. 2008, at the office of Bangkok Solar CO,LTD., Chacheangsao. Thailand,
(hereinafter referred to as "BSC") on the one part, and NP Capital Corp.
(hereinafter referred to, as -NPC") on the other part, as follows:

     

    WHEREAS BSC is the beneficial
owner of a factory manufacturing solar modules with the a-Si (amorphous silicon)
technology in Thailand. and,

     

    WHEREAS BSC is interested in
having said a-Si solar modules marketed in North America

     

    WHEREAS NPC has declared
itself capable of implementing such marketing activities on BSC's behalf.
in North
America

     

    IT
HAS BEEN MUTUALLY AGREED, AS FOLLOWS:

     

    Two duly
authorized representatives of BSC and NPC, Dr. Krisada Chongphaibuipatana
(Vice-President/ Sales & Marketing Department) and Mr. Bradley C. Holt
(CEO), have investigated on the potential of marketing BSC's a-Si solar modules,
in North America, through the
services of NPC, NPC has arranged to provide BSC with proper market and
competitor information, potential customers, marketing activities and the
ongoing implementation schedule, in the framework of a performance of NPC on North America.

     

    
      	
              2.  

            	
              Based
      on the above information and following contract negotiations between BSC
      and NPC. BSC has agreed
      to grant NPC an exclusive distributor right for it's a-Si solar modules
      for the territory of the North America, with an initial sales quota of 20
      Megawatts of modules, for the trial year during the period of 12 months
      after BSC got UL certificate. This sales quota will be adjusted, upwards,
      or downwards, by mutual agreement of the Parties, together with the CIF
      Price USA WEST COAST PORT and the exclusive right and Payment Term
      Condition referred to under Paras 3. and 4. in according of this Supply
      Contract.

            

    

     

    
      	
              3.  

            	
              The
      Exclusive right in North America Distributor condition
  :

            

    

     

    
      	 
      	
              a)
      BSC will grant this Exclusive North American Distributor to NPC. if NPC
      fully perform as per the or.wriised of item 4 after the 6 months of
      getting UL Certification's.

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	 
      	
              b)
      NP Capital is granted the Exclusive Rights for North American, BSC will
      therefore not effect any deliveries to other customers in North American,
      Unless NP Capital could not accept the Quantity which BSC would like to
      share in the North American Market, BSC has the right to sell to other
      customers in North American with the condition that the discussion has to
      be done between two parties first and the Price should not be lower than
      what the NP Capital gets. Furthermore, NP Capital undertakes not to
      conclude any agreement with customers of BSC, in particular also from
      outside North American Market.

            

    

     

    
      	
              4.  

            	
              Orders.
      Prices, Shipment, and Terms of
Payment

            

    

     

    
      	
              a.  

            	
              Orders.
      Bangkok Solar agrees to sell to NP Capital twenty (20) MWp solar modules
      and the shipment of total amount 20 MWp will be shipped to NPC within 12
      month after BSC got UL certificate at the price listed below. The parties
      tentatively agree to the following order schedule
  :

            

    

     

    Month
1               
:                   1.0
MWp

     

    Month
2                :                   1.0
MWp

     

    Month
3                :                   1.5
MWp

     

    Month
4                :                   1.5
MWp

     

    Month
5                :                   1.5
MWp

     

    Month
6                :                   1.5
MWp

     

    Month
7                :                   2.0
MWp

     

    Month
8                :                   2.0
MWp

     

    Month
9                :                   2.0
MWp

     

    Month
10              :                   2.0
MWp

     

    Month I
I              :                   2.0
MWp

     

    Month
12              :                   2.0
MWp

     

    
      	
              b.  

            	
              Product Price. The
      Product price shall be ** USD/Wp for the first 15 MWp and ** USD/Wp for
      the last 5 MWp. The Product price shall be calculated using a Thai Baht to
      United States Dollar exchange rate of 33.85 ("33.85 Bht/USD").
      Notwithstanding the foregoing, the foregoing Product price shall be
      adjusted if on the date any goods purchased hereunder clear U.S. customs
      (the "Delivery Date"), the exchange rate for U.S. Dollars into Thai Baht
      ("Exchange Rate") is less than 33.35 Bht/USD or greater than 34.35
      Bht/USD. In such event, the Product price shall be the product of ** USD
      multiplied by a fraction, the numerator of which is the Exchange Rate (as
      determined by the Bank of Thailand's Average Interbank Exchange Rate) as
      of the Delivery Date and the denominator of which is 33.85. All prices and
      sums payable shall be in United States Dollars. NP Capital shall be free
      to establish its own resale price for the resale of the Products in the
      Territory.

            

    

     

    ** The
information omitted is confidential in nature and has been
omitted.  The Company has filed the omitted portion with the
Securities and Exchange Commission requesting confidential
treatment.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              c.  

            	
              Shipment. All Products
      shall be shipped on CIF term ( lncoterrns 2000) to NPC at the shipping
      location specified by NPC, but within the west coast USA port, BSC agrees
      (i) to obtain, or to assist NPC in obtaining, all local required licenses
      and permits then in effect. and (ii) to not export or ship the Products
      except in compliance with all applicable rules and
      regulations.

            

    

     

    
      	
              d.  

            	
              Terms
      of Payment.

            

    

     

    All the
payments for the Goods shall be made in USD currency by :-

     

    
      	
              -

            	
              T/T
      in advance within fourteen (14) days of each particular order
      as 

            

    

     

    
      	
              -

            	
              as
      an irrevocable letter of credit at sight with confirmed
      by first class international bank designated by the BSC. The letter of
      credit shall be established by NPC on ten (10) days
      prior to each scheduled shipment date and has to be valid for no less then
      thirty (30) days after the latest date allowed for the
      shipment.

            

    

     

    NPC shall bear all banking
expenses associated with the establishing of the letter of credit. The shipments
will only consist of fully loaded containers.

     

    Except
otherwise agreed by the parties, such as, for more than 5 MWp special project
inquiries, the price and delivery schedule shall be discussed and agreed upon
both parties.

     

    Warranty
and Indemnification. BSC agrees to warrant the Products as attached
document.

     

    
      	
              6.  

            	
              Choice of Law. This
      Contract is intended to be governed by laws of the Thailand without regard
      for choice of law principles, and the obligations, rights and remedies of
      the parties hereto will be determined in accordance with such
      laws.

            

    

     

    
      	
              7.  

            	
              Term. The term of
      this Contract begins on the date of execution of this Contract by BSC and
      continues for twelve (12) months after BSC got UL
    certificate

            

    

     

    
      	
              8.  

            	
              Expenses. Except as
      otherwise expressly provided herein, the parties will be responsible for
      their own costs and expenses, including counsel fees, incurred it
      connection with the Transaction contemplated by this
    Contract.

            

    

     

    
      	
              9.  

            	
              Future Contract. The
      parties agree to diligently work toward the execution of a definitive
      distribution agreement with a term of five (5) years, consistent with the
      terms of this Contract.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              10.  

            	
              Exclusive
      Distributor Performance Evaluation.

              Parties
      agree that at the end of the trial period they will jointly evaluate NPCactivities
      during the said period and will adjust NPC annual quota
      accordingly as appropriate. Such joint evaluation-and said
      appropriate changes would have to take place within three months before the
      end of the trial period. 12 months after BSC got UL
      certificate)

            

    

     

    
      	
              11.  

            	
              Termination
      of Distribution.

              A
      party has the right to terminate this contract if the other party breaches
      any clause of this contract and does not remedy within 60 (sixty) days
      after receiving the advice of contract breaching or any case by the
      party.

            

    

     

    
      	
              12.  

            	
              PV
      Trade Show in USA

              BSC
      commit to response one (1) PV trade show booth expenses in USA on the
      trial period contract. (Within twelve (12) months after BSC got UL
      certificate).

            

    

     

     

     

    IN WITNESS WHEREOF, the
parties hereto have signed and executed this Supply Contract as of the Date on
19th
of January, 2008 by and between.

     

     

    
      	
              Bangkok
      Solar CO., LTD.

            	 
      	 
      	
              NP
      Capital CORP.

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              /s/Krisada
      Chongphaibulpatana

            	 
      	 
      	
              /s/
      Mr. Bradley C. Holt

            	 
      
	
              Dr.
      Krisada Chongphaibulpatana

            	 
      	 
      	
              Mr.
      Bradley C. Holt

            	 
      
	
              (Vice-President/Sales
      & Marketing Department)

            	 
      	 
      	
              (CEO)

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              /s/Rangsun
      Kanjanangurapun

            	 
      	 
      	 
      	 
      
	
              Mr.
      Rangsun Kanjanangurapun

            	 
      	 
      	 
      	 
      
	
              (Sales
      & Marketing Department Manager)

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    Amorphous
Silicon Photovoltaic Module

     

    

     

    Limited
Warranty

     

    Bangkok
Solar Co.,Ltd (BSC) warrants its photovoltaic module against defects in
workmanship and materials for five (5) years from the aate of shipping BSC will
replace. or repair and return, any module or module part(s) found upon
inspection to be defective in workmanship or material Upon written authorization
from BSC , the module or module part(s) should be promptly shipped to BSC with
transportation costs prepaid. !f the module or module part(s) is found to be
defective within the terms of this warranty, credit will be issued to offset the
transportation cost of the return to BSC , and the repaired or replacement
module or module part(s) will be returned prepaid by BSC If the module or module
part(s) is not found to be defective, within the terms of this warranty. BSC
will notify the original purchaser and arrange for the original purchaser to
prepay return transportation costs BSC is not responsible for labor or other
charges necessitated by the removal and reinstallation of any defective module
or module part(s)

     

    In
addition. for a period of twenty (20) years from the shipping date, BSC warrants
to the original purchaser that its module will produce at !east 80% of the rated
power output at standard test conditions as specified by BSC at the time of
shipping In the event that the module produces less than 80% of the rated power,
BSC will at its option either replace the deficient module or provide the
original purchaser with additional module(s) to make up said
deficiency.

     

    This
warranty does not apply to
damage caused by storm, fire, wind, accident. or similar casualty or by improper
electrical supply. improper installation, careless handing, misuse, or
negligence. BSC shall not be liable for any consequential or incidental damages
to the original purchaser or anyone else

     

    This
warranty and BSC obligations hereunder is expressly in lieu of all other
warranties including, but on limited to. the implied warranties of
merchantability and fitness for a particular
purpose

     

    This
warranty gives the original purchaser specific legal rights, and there may also
be other applicable rights that vary from location to location.

     

    If
warranty service is believed to be needed, please contact:

     

     

    Bangkok
Solar Co.,Ltd.

    187/1
Raidamn Rd., Lumpinee.

    Pathumwan,
Bangkok Thailand 10330

    TEL
0-2651-9221-9. 0-254-4550-9

    FAX.
0-2253-5973, 0-2253-6028

    E-mail
.. sales@bangkoksolar.com

    http://www.bangkoksolarcom

     

     

    The
original purchaser should retain the receipt or other proof of purchase as it
may be needed to establish rights under this warranty.

    
5

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