Document:

Exhibit 10.2
	 
	
BUCYRUS INTERNATIONAL, INC.

2007 RESTRICTED SHARE AWARD AGREEMENT

                This 2007 RESTRICTED SHARE AWARD AGREEMENT (the “Agreement”), made as of the Award Date set
forth in the Notice of Award of 2007 Restricted Shares (the “Notice”), by and between Bucyrus
International, Inc., a Delaware corporation (the “Company”) and the undersigned individual
(“Grantee”), sets forth the terms and conditions of the Restricted Share Award (the “Award”)
described in the Notice. You must sign both the Agreement and the Notice in order for this Award
to be effective. Please sign and date the Agreement and the Notice and return them promptly in the
enclosed envelope.

                By accepting this Agreement and any shares of Class A common stock of the Company (“Company Stock”)
issued pursuant to this Award, you acknowledge that you have received read and understand the terms
of the Omnibus Incentive Plan 2007 (the “Plan”) and this Agreement, and accept this Agreement
subject to all such terms and conditions.

                This Award provides for the grant of shares of Company Stock to you, which will be subject to a risk
of forfeiture and shall be non-transferable until vested. Vesting occurs when continued service requirements
are met. The number of shares of Company Stock and the vesting schedule applicable to the Award are
stipulated in the Notice.

Terms and Conditions

                1.             Terms and Provisions of Restricted Share Award. Pursuant to Section 6 of the Plan, as of the Award Date the Company has awarded to Grantee the number
of shares of Company Stock (the “Restricted Shares”) specified in the Notice. Such Award
is subject to the following terms and conditions.

                2.             Award of Shares Subject to Service Requirements. The Restricted Shares are subject to the following terms, conditions and forfeiture provisions:

                                (a)           Service for Entire Period. If Grantee remains employed by the Company and/or an Affiliate through the Vesting Date stipulated
in the Notice, then, to the extent not forfeited previously, 100% of the Restricted Shares shall
vest on the Vesting Date.

                                (b)           Intervening Qualifying Events. Upon Grantee’s termination of employment from the Company and its Affiliates, any unvested Restricted
Shares shall be immediately forfeited, except that 

	 

	 	                i.              If Grantee’s
termination of employment is due to death or Disability then the Restricted Shares shall vest in
full on the date of such termination. 
		 
	 	                ii.             If Grantee’s termination
of employee occurs more than one year after the Award Date due to Retirement (a “Qualifying
Retirement”), Grantee shall continue to vest in the Restricted Shares on the same basis as if
Grantee had remained an active employee; provided, however, that a forfeiture shall occur if 

	

 

	 	Grantee, prior to the Vesting Date, obtains other gainful employment (regardless of whether such employment
is with a competitor of the Company). Grantee acknowledges and agrees that the forfeiture of Restricted
Shares set forth in the preceding sentence does not constitute a limitation or restriction on Grantee’s
right to obtain other employment, but is only a restriction on Grantee’s right to receive unvested
Restricted Shares.

	 
	
                3.             Confidential Information; Noncompetition; Nonsolicitation.

                                (a)           Grantee acknowledges that all
product design information, manufacturing processes and methods, information regarding new product
development, information regarding strategic or tactical planning, information regarding pending
or planned competitive bids, and information regarding key employees, and other information, knowledge
or data relating to the Company or any of its Affiliates and their respective businesses that Grantee
obtains during Grantee’s employment by the Company or any of its Affiliates and that is not
public knowledge (other than as a result of the Grantee’s violations of this Section 3(a))
(“Confidential Information”) is highly sensitive and proprietary. Confidential Information
shall not include trade secrets of the Company, and Grantee acknowledges that Grantee has an independent
statutory obligation to protect the Company’s trade secrets which is in no way limited by this
Agreement. Grantee shall not communicate, divulge, disseminate, or use any Confidential Information
at any time during or at any time within one year after termination of Grantee’s employment
with the Company or any of its Affiliates under any circumstances reasonably likely to result in
use of such information to the Company’s competitive disadvantage in any country in the World,
except with the prior written consent of the Company or as otherwise required by law or legal process.
All computer software, telephone lists, customer lists, price lists, contract forms, catalogs, records,
files and know-how acquired while an employee of the Company or any of its Affiliates are acknowledged
to be the property of the Company and shall not be duplicated, removed from the Company’s or
an Affiliate’s possession or premises or made use of other than in pursuit of the Company’s
or an Affiliate’s business or as may otherwise be required by law or any legal process, and,
upon termination of employment for any reason, Grantee shall deliver to the Company, without further
demand, all such items and any copies thereof which are then in his or her possession or under his or her control.

                                (b)           For a one year period beginning
on Grantee’s termination of employment, Grantee will not, except upon prior written permission
signed by an authorized officer of the Company, in any capacity in which Confidential Information
or trade secrets of the Company would reasonably be expected to be useful, consult with or advise
or, directly or indirectly, as owner, member, shareholder, partner, officer, contractor, agent, servant
or employee, engage in business with any company in competition with the Company in the business
of manufacturing, selling, servicing or repairing draglines, drills or shovels for the surface mining
industry or parts for such equipment, or the business of any affiliate of the Company (whether currently
in existence or acquired by the Company after the date of this Agreement), or with any corporation
or entity controlled by, controlling or under common control with any such company and that is conducting
or planning to conduct any such business in any country in the World. Notwithstanding the foregoing,
Grantee may make and retain investments in not more than three percent (3%) of the equity of any
such company if such equity is listed on a national securities exchange or regularly traded in an
over-the-counter market.

	

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                                (c)           For a one year period beginning
on Grantee’s termination of employment, Grantee will not, directly or indirectly, solicit for
employment on behalf of any organization other than the Company or one of its Affiliates any person
then employed by the Company or any of its Affiliates or who had been so-employed within the previous
six months and whom Grantee supervised or learned Confidential Information about in the last year
of Grantee’s employment with the Company or any of its Affiliates. 

                                (d)           In the event of a breach of Grantee’s
covenants under this Section 3, the Administrator is hereby authorized in his or her sole discretion
to declare a forfeiture of some or all of the Restricted Shares awarded to Grantee as of such breach
and it is understood and agreed that the Company shall be entitled to injunctive relief as well as
any other legal or equitable remedies. Grantee acknowledges and agrees that the covenants, obligations
and agreements of the Grantee in this Section 3 relate to special, unique and extraordinary matters
and that a violation of any of the terms of such covenants, obligations or agreements will cause
the Company or its Affiliates irreparable injury for which adequate remedies are not available at
law. Therefore, Employee agrees that the Company or any of its Affiliates shall be entitled to an
injunction, restraining order or such other equitable relief (without the requirement to post bond)
as a court of competent jurisdiction may deem necessary or appropriate to restrain Grantee from committing
any violation of such covenants, obligations or agreements. These injunctive remedies are cumulative
and in addition to any other rights and remedies that the Company may have. The Company and Grantee
hereby irrevocably submit to the exclusive jurisdiction of the courts of Wisconsin and the Federal
courts of the United States of America, located in Milwaukee, Wisconsin, in respect of all disputes
involving Confidential Information, trade secrets or the violation of the provisions of this Section 3.

                4.             Voting Rights. By acceptance of this Award Agreement and as consideration for the receipt of Restricted Shares,
Grantee agrees to appoint a Company nominee[s] as his/her irrevocable proxy to vote, in the nominee[s]’
discretion, the Restricted Shares at the annual meeting of shareholders and at any other meetings
at which shareholders are entitled to vote until the date the Restricted Shares are vested. The Company
will provide appropriate means to effect this appointment. If Grantee fails to so appoint a proxy
within a reasonable time as specified by the Company, this Award shall become null and void. 

                5.             Dividends. Any dividends paid on the Restricted Shares prior to their vesting shall also be subject to forfeiture
until such date as the underlying shares to which they relate become vested, and shall be paid in
cash to Grantee upon vesting, without interest thereon.

                6.             Tax Consequences. Grantee understands that the award of Restricted Shares to Grantee, the vesting thereof, and the
sale of such shares by Grantee, may have tax implications to Grantee. Grantee represents that he
or she has been advised to consult a tax advisor regarding the implications of this Agreement. Grantee
further acknowledges that he or she is not relying on the Company for any tax, financial or legal
advice; and it is specifically understood by Grantee that no representations are made as to any particular
tax treatment with respect to this Award.

	

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                7.             Fractional Shares. If any fractional share of Company Stock would be released from restrictions or limitations upon
vesting, the Fair Market Value of such fractional share as determined on the vesting date shall be
paid in cash to Grantee.

                8.             Restrictions on Transfer. Until vested, the Restricted Shares awarded to Grantee under this Agreement may not be transferred
or otherwise disposed of by Grantee, including by way of sale, assignment, transfer, pledge, hypothecation
or otherwise, except as permitted by the Administrator, or by will or the laws of descent and distribution.
Any purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer
in trust (voting or other) or other disposition of, or creation of a security interest in or lien
on, any of the Restricted Shares by any holder thereof in violation of the provisions of this Agreement
shall be invalid, and the Company will not transfer any of said shares on its books nor will any
of said shares be entitled to vote, nor will any dividends be paid thereon, unless and until there
has been full compliance with said provisions to the satisfaction of the Company. The foregoing restrictions
are in addition to and not in lieu of any other remedies, legal or equitable, available to enforce
said provisions.

                9.             Approvals. No shares of Company Stock shall be issued under this Agreement unless and until all legal requirements
applicable to the issuance of such shares have been complied with to the satisfaction of the Company.
The Company shall have the right to condition any issuance of shares to Grantee on Grantee’s
undertaking in writing to comply with such restrictions on the subsequent disposition of such shares
as the Company shall deem necessary or advisable as a result of any applicable law or regulation.

                10.           Change in Control. In the event of a change in control, all Restricted Shares that have not been previously forfeited
shall become immediately vested and all restrictions and forfeiture conditions applicable to such
shares shall immediately lapse. 

                11.           Taxes. Grantee shall pay to the Company promptly upon request an amount equal to the federal, state and/or
local taxes the Company determines it is required to withhold under applicable tax laws with respect
to the Restricted Shares. Grantee may satisfy the foregoing requirement by electing one or a combination
of the following methods: (a) making a payment to the Company in cash or cash equivalents (including
by electing to have the Company deduct the taxes from accumulated wages otherwise due to Grantee);
or (b) authorizing the Company to withhold a portion of the shares of Company Stock that are vesting
hereunder having a Fair Market Value on the Vesting Date equal to or less than the minimum amount
required to be withheld. In the absence of an election, the Company shall withhold a portion of the
shares of Company Stock that are vesting hereunder having a Fair Market Value on the Vesting Date
equal to the minimum amount required to be withheld. Grantee shall promptly notify the Company of
any election made pursuant to Section 83(b) of the Code. Grantee understands that the amount withheld
by the Company may not be sufficient to cover Grantee’s entire tax liability, and Grantee understands
that Grantee, and not the Company, is solely responsible for any tax liability Grantee may incur
as a result of this Agreement.

              GRANTEE ACKNOWLEDGES THAT IT IS GRANTEE’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE
TIMELY THE ELECTION UNDER SECTION 83(b) OF THE CODE, IN THE EVENT THAT GRANTEE DESIRES TO MAKE THE
ELECTION.

	

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                12.           Compliance with Law and Regulations. This Agreement, the Restricted Shares awarded hereunder and any obligation of the Company hereunder
shall be subject to all applicable federal, state and local laws, rules and regulations and to such
approvals by any government or regulatory agency as may be required. Restricted Shares shall be held
in the name of Grantee in book entry form until the Vesting Date. Upon the Vesting Date, Grantee
may request that the shares of Company Stock be issued in certificate form. 

                13.           Incorporation of Plan. This Agreement is made under the provisions of the Plan (which is incorporated herein by reference)
and shall be interpreted in a manner consistent with it. To the extent that this Agreement is silent
with respect to, or in any way inconsistent with, the terms of the Plan, the provisions of the Plan
shall govern and this Agreement shall be deemed to be modified accordingly. Any capitalized term
not defined herein shall have the meaning set forth in the Plan.

                14.           Notices. Any notices required or permitted hereunder shall be addressed to Secretary of the Company, 1100
Milwaukee Avenue, South Milwaukee, Wisconsin 53172, or to Grantee at the address then on record with
the Company, as the case may be, and deposited, postage prepaid, in the United States mail. Either
party may, by notice to the other given in the manner aforesiad, change his/her or its address for
future notices.

                15.           Binding Agreement; Successors. This Agreement shall bind and inure to the benefit of the Company, its successors and assigns, and
Grantee and Grantee’s personal representatives and beneficiaries.

                16.           Amendment. This Agreement may be amended or modified by the Company at any time; provided that any amendment
that would adversely affect the rights of Grantee is subject to Grantee’s written consent. Notwithstanding
the foregoing, the Company need not obtain Grantee consent if the Company determines that such amendment
is necessary to comply with applicable law, the listing requirements of any principal securities
exchange or market on which the Company’s Stock is then listed, or to preserve favorable accounting
treatment of the Award for the Company.

                IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be effective as of the
Award Date set forth in the Notice.

	 	 	 
	GRANTEE	 	 
	 	 	 
	 	 	 
	
	 	

	 	 	Date
	 	 	 
	BUCYRUS INTERNATIONAL, INC. 	 	 
	 	 	 
	 	 	 
	
	 	

	Craig R. Mackus

Secretary	 	Date

	

5Exhibit 10.3
	 
	
TIER 1 - BUCYRUS INTERNATIONAL, INC.

KEY EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENT

                                THIS AGREEMENT, made and entered into as of the ___ day of ______, 2007, by and between BUCYRUS INTERNATIONAL,
INC., a Delaware corporation (“Company”), and __________ (“Executive”).

WITNESSETH:

                                WHEREAS, the Executive is employed by the Company as a key executive officer, and the Executive’s
services in such capacities are critical to the continued successful conduct of the business of the
Company; 

                                WHEREAS, the Company recognizes that circumstances in which a change in control of the Company occurs,
through acquisition or otherwise, are highly disruptive and will cause uncertainty about the Executive’s
future employment with the Company without regard to the Executive’s competence or past contributions
and that such uncertainty may materially adversely affect the Company;

                                WHEREAS, the Company and the Executive are desirous that any proposal for a change in control or acquisition
of the Company will be considered by the Executive objectively, with reference only to the best interests
of the Company and its stockholders and without undue regard for the Executive’s personal interests;
and

                                WHEREAS, the Executive will be in a better position to consider the Company’s and its stockholders’
best interests if the Executive is afforded reasonable security, as provided in this Agreement, against
altered conditions of employment which could result from any such change in control or acquisition.

                                NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements hereinafter
set forth, the parties hereto mutually covenant and agree as follows:

                1.             Definitions.

                                (a)           Act. For purposes of this Agreement, the term “Act” means the Securities Exchange Act of 1934,
as amended. 

                                (b)           Affiliate and Associate. For purposes of this Agreement, the terms “Affiliate” and “Associate” shall have
the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations
of the Act.

                                (c)           Beneficial Owner. For purposes of this Agreement, a Person shall be deemed to be the “Beneficial Owner” of
any securities:

	

  

	 	                                (i)            which such Person or any
  of such Person’s Affiliates or Associates has the right to acquire (whether such right is exercisable
  immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding,
  or upon the exercise of conversion rights, exchange rights, rights, warrants or options, or otherwise; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, securities tendered
  pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s
  Affiliates or Associates until such tendered securities are accepted for purchase;

		 
	 	                                (ii)           which such Person or any of such
  Person’s Affiliates or Associates, directly or indirectly, has the right to vote or dispose
  of or has “beneficial ownership” of (as determined pursuant to Rule 13d-3 of the General
  Rules and Regulations under the Act), including pursuant to any agreement, arrangement or understanding; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, any security under
  this subparagraph (ii) as a result of an agreement, arrangement or understanding to vote such
  security if the agreement, arrangement or understanding: (A) arises solely from a revocable
  proxy or consent given to such Person in response to a public proxy or consent solicitation made
  pursuant to, and in accordance with, the applicable rules and regulations under the Act and (B) is
  not also then reportable on a Schedule 13D under the Act (or any comparable or successor report); or

		 
	 	                                (iii)          which are beneficially owned, directly
  or indirectly, by any other Person with which such Person or any of such Person’s Affiliates
  or Associates has any agreement, arrangement or understanding for the purpose of acquiring, holding,
  voting (except pursuant to a revocable proxy as described in Subsection 1(c)(ii) above) or disposing
  of any voting securities of the Company.

	 
	
                                (d)           Cause. “Cause” for termination by the Company of the Executive’s employment after a Change
in Control of the Company shall, for purposes of this Agreement, be limited to (i) the engaging
by the Executive in intentional conduct not taken in good faith which has caused demonstrable and
serious financial injury to the Company, as evidenced by a determination in a binding and final judgment,
order or decree of a court or administrative agency of competent jurisdiction, in effect after exhaustion
or lapse of all rights of appeal, in an action, suit or proceeding, whether civil, criminal, administrative
or investigative; (ii) conviction of a felony (as evidenced by binding and final judgment, order
or decree of a court of competent jurisdiction, in effect after exhaustion or lapse of all rights
of appeal) which substantially impairs the Executive’s ability to perform his duties or responsibilities;
and (iii) continuing willful and unreasonable refusal by the Executive to perform the Executive’s
duties or responsibilities (unless significantly changed without the Executive’s consent).

                                (e)           Change in Control of the Company. For purposes of this Agreement, a “Change in Control of the Company” shall be deemed to
have occurred if:

	 

	 	                                 (i)            any Person (other than the
  Company or any trustee or other fiduciary holding securities under an employee benefit plan of the
  Company) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company 

	

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	 	representing one-third (33 1/3%) or more of the combined voting power of the Company’s then outstanding
  voting securities;

		 
	 	                                (ii)           the following individuals cease
  for any reason to constitute a majority of the number of directors then serving: individuals who,
  as of the date of this Agreement, constitute the Board of Directors of the Company and any new director
  (other than a director whose initial assumption of office is in connection with an actual or threatened
  election contest, including but not limited to a consent solicitation, relating to the election of
  directors of the Company) whose appointment or election by the Board of Directors of the Company
  or nomination for election by the Company’s stockholders was approved or recommended by a vote
  of at least two-thirds (2/3) of the directors then still in office who either were directors as of
  the date of this Agreement or whose appointment, election or nomination for election was previously
  so approved or recommended;

		 

	 	                                (iii)          there is consummated a merger or consolidation
  of the Company or any direct or indirect subsidiary of the Company with any other corporation, other
  than a merger or consolidation immediately following which the individuals who comprise the Board
  of Directors of the Company immediately prior thereto constitute at least a majority of the Board
  of Directors of the Company, the entity surviving such merger or consolidation or, if the Company
  or the entity surviving such merger is then a subsidiary, the ultimate parent thereof; or

		 

	 	                                (iv)          the stockholders of the Company approve
  a plan of complete liquidation of the Company or there is consummated an agreement for the sale or
  disposition by the Company of all or substantially all of the Company’s assets (or any transaction
  having a similar effect), other than a sale or disposition by the Company of all or substantially
  all of the Company’s assets to an entity, immediately following which the individuals who comprise
  the Board of Directors of the Company immediately prior thereto constitute at least a majority of
  the board of directors of the entity to which such assets are sold or disposed of or, if such entity
  is a subsidiary, the ultimate parent thereof.

	 
	
Notwithstanding the foregoing, a Change in Control of the Company shall not be deemed to have occurred
by virtue of the consummation of any transaction or series of integrated transactions immediately
following which the holders of the Stock immediately prior to such transaction or series of transactions
continue to have substantially the same proportionate ownership in an entity which owns all or substantially
all of the assets of the Company immediately following such transaction or series of transactions.

                                (f)            Code. For purposes of this Agreement, the term “Code” means the Internal Revenue Code of 1986,
including any amendments thereto or successor tax codes thereof.

                                (g)           Covered Termination. For purposes of this Agreement, the term “Covered Termination” means any termination of
the Executive’s employment where the Termination Date is any date on or on or after a Change
in Control of the Company (except as provided in 

	

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Section 2) and prior to the end of the Employment Period, and the termination constitutes a Separation
from Service.

                                (h)           Discretionary Termination. For purposes of this Agreement, “Discretionary Termination” means the determination by
the Executive at any time during the thirty (30)-day period after the first anniversary of the occurrence
of a Change in Control of the Company, as evidenced by the Executive’s delivery to the Company
of a Notice of Termination during such period, to terminate this Agreement and his employment hereunder
for any reason whatsoever in his sole discretion, with or without good faith and regardless of whether
the Company is then attempting to terminate the Executive for any reason, including for Cause.

                                (i)            Employment Period. For purposes of this Agreement, the term “Employment Period” means the period commencing
on the date of a Change in Control of the Company and ending at 11:59 p.m. Milwaukee time on
the third anniversary of such date.

                                (j)            Good Reason. For purposes of this Agreement, the Executive shall have a “Good Reason” for termination
of employment after a Change in Control of the Company in the event of:

	 

	 	                                 (i)            any breach of this Agreement
  by the Company, including specifically any breach by the Company of its agreements contained in Sections 4,
  5, 6 or 9 hereof;

		 

	 	                                 (ii)          the removal of the Executive
  from, or any failure to reelect the Executive to, any of the positions held with the Company and
  its subsidiaries on the date of the Change in Control of the Company or any other positions with
  the Company and its subsidiaries to which the Executive shall thereafter be elected or assigned,
  except in the event that such removal or failure to reelect relates to the termination by the Company
  of the Executive’s employment for Cause or by reason of disability pursuant to Section 12
  hereof;

		 

	 	                                 (iii)          a good faith determination by the
  Executive that there has been a significant adverse change, without the Executive’s written
  consent (which may be denied or withheld for any reason whatsoever at Executive’s discretion),
  in the Executive’s working conditions or status with the Company or its subsidiaries from such
  working conditions or status in effect immediately prior to the Change in Control of the Company,
  including but not limited to (A) a significant change in the nature or scope of the Executive’s
  authority, powers, functions, duties or responsibilities, or (B) a reduction in the level of
  support services, staff, secretarial and other assistance, office space and/or accoutrements; or

		 
	 	                                 (iv)          failure by the Company to timely obtain
  the Agreement referred to in Section 17(a) hereof as provided therein.

	 
	
                                (k)           Person. For purposes of this Agreement, the term “Person” shall mean any individual, firm, partnership,
corporation or other entity, including any successor (by merger or otherwise) of such entity, or
a group of any of the foregoing acting in concert.

	

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                                (l)            Securities Act. For purposes of this Agreement, the term “Securities Act” means the Securities Act of 1933,
as amended.

                                (m)          Separation from Service. For purposes of this Agreement, the term “Separation from Service” means the date on which
the Executive separates from service, within the meaning of Code Section 409A, from the Company and
each other corporation, trade or business that, with the Company, constitutes a controlled group
of corporations or group of trades or businesses under common control within the meaning of Code
Section 414(b) or (c). The Executive has not incurred a Separation from Service if the Executive
is absent from active employment due to military leave, sick leave or other bona fide leave of absence
if the period of such leave does not exceed the greater of (i) six months, or (ii) the period during
which the Executive’s right to reemployment by the Company or controlled group member is provided
either by statute or by contract. Further, for purposes of determining whether the Executive has
incurred a Separation from Service, if the Executive is not actively at work during the period that
there exists a dispute pursuant to Section 1(n)(B) or (C), the Executive shall be considered to be
on a bona fide leave of absence for which his right to reemployment is guaranteed during the period
that begins on the date on which the Executive last performs active services and the Termination
Date that ultimately is established pursuant to Section 1(n)(B) or (C).

                                (n)           Specified Employee. For purposes of this Agreement, the Executive will be a “Specified Employee” if the Executive
is a key employee (as defined in Code Section 416(i) but without regard to Code Section 416(i)(5))
of the Company or an affiliate of the Company (within the meaning of Code Section 414(b) or (c))
any of the stock of which is publicly traded on an established securities market, as determined at
the time of the Executive’s Separation from Service. The Executive is a key employee under Code
Section 416(i) if the Executive meets the requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii),
applied in accordance with the regulations under Code Section 416, but disregarding Code Section
416(i)(5), at any time during the 12-month period ending on an identification date. If the Executive
is a key employee as of an identification date, the Executive is treated as a Specified Employee
for the 12-month period beginning on the first day of the fourth month following the identification
date. The identification date for this Agreement shall be September 30 of each year, such that if
the Executive satisfies the foregoing requirements for key employee status as of September 30 of
a year, the Executive shall be treated as a Specified Employee for the following calendar year.

                                (o)           Stock. For purposes of this Agreement, the term “Stock” means shares of the Class A common stock,
par value $.01 per share, of the Company. 

                                (p)           Termination Date. For purposes of this Agreement, except as otherwise provided in Section 10(b) and Section 17(a)
hereof, the term “Termination Date” means (i) if the Executive’s employment is
terminated by the Executive’s death, then the date of death; (ii) if the Executive’s
employment is terminated by reason of voluntary early retirement, as agreed in writing by the Company
and the Executive, then the date of such early retirement which is set forth in such written agreement;
(iii) if the Executive’s employment is terminated by reason of disability pursuant to Section 12
hereof, then the earlier of thirty (30) days after the Notice of Termination is given or one day
prior to the end of the Employment Period; (iv) if the Executive’s employment is terminated
by the Executive voluntarily (other than for Good Reason, but including a Discretionary Termination),
then the date the Notice of Termination is given; and 

	

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(v) if the Executive’s employment is terminated by the Company (other than by reason of disability
pursuant to Section 12 hereof) or by the Executive for Good Reason, then the earlier of thirty
(30) days after the Notice of Termination is given or one day prior to the end of the Employment
Period. Notwithstanding the foregoing,

	 

	 	                                (A)          If termination is by the Company for
  Cause pursuant to Section 1(d)(iii) of this Agreement and if the Executive has substantially
  cured the conduct constituting such Cause as described by the Company in its Notice of Termination
  within such thirty (30) day or shorter period, then the Executive’s employment hereunder shall
  continue as if the Company had not delivered its Notice of Termination and there shall be no Termination
  Date arising out of such Notice.

		 
	 	                                (B)           If the Company shall give a Notice
  of Termination for Cause or by reason of disability and the Executive in good faith notifies the
  Company that a dispute exists concerning such attempted termination within the fifteen (15)-day period
  following receipt thereof, then the Executive may elect to continue his employment during the pendency
  of such dispute and the Termination Date shall be determined under this paragraph. If the Executive
  so elects and it is thereafter determined that Cause or disability (as the case may be) did exist,
  the Termination Date shall be the earlier of (1) the date on which the dispute is finally determined,
  either (x) by mutual written agreement of the parties or (y) in accordance with Section 22
  hereof, (2) the date of the Executive’s death, or (3) one day prior to the end of
  the Employment Period. If the Executive so elects and it is thereafter determined that Cause or disability
  (as the case may be) did not exist, then the employment of the Executive hereunder shall continue
  after such determination as if the Company had not delivered its Notice of Termination and there
  shall be no Termination Date arising out of such Notice. 

		 
	 	                                (C)           If the Executive shall in good
  faith give a Notice of Termination for Good Reason and the Company in good faith notifies the Executive
  that a dispute exists concerning such attempted termination within the fifteen (15)-day period following
  receipt thereof, then the Executive may elect to continue his employment during the pendency of such
  dispute and the Termination Date shall be determined under this paragraph. If the Executive so elects
  and it is thereafter determined that Good Reason did exist, the Termination Date shall be the earlier
  of (1) the date on which the dispute is finally determined, either (x) by mutual written
  agreement of the parties or (y) in accordance with Section 22 hereof, (2) the date of the
  Executive’s death or (3) one day prior to the end of the Employment Period. If the Executive
  so elects and it is thereafter determined that Good Reason did not exist, then the employment of
  the Executive hereunder shall continue after such determination as if the Executive had not delivered
  the Notice of Termination asserting Good Reason and there shall be no Termination Date arising out
  of such Notice. In either case, this Agreement continues, until the Termination Date, if any, as
  if the Executive had not delivered the Notice of Termination except that, if it is finally determined
  that Good Reason did exist, the Executive shall in no case be denied the benefits described in Sections 8(b)
  and 9 hereof (including a Termination Payment) based on events occurring after the Executive delivered
  his Notice of Termination.

	

6

	 	                                (D)          If opinions are required to be delivered
  pursuant to Section 9(c) hereof and such opinions shall not have been delivered, the Termination
  Date shall be the earlier of the date on which such opinions are delivered or one day prior to the
  end of the Employment Period.

		 
	 	                                (E)          Except as provided in Paragraphs (B)
  and (C) above and other than a Discretionary Termination (which cannot be subject to dispute by the
  Company), if the party receiving the Notice of Termination in good faith notifies the other party
  that a dispute exists concerning the termination within the fifteen (15)-day period following receipt
  thereof and it is finally determined that the reason asserted in such Notice of Termination did not
  exist, then (1) if such Notice was delivered by the Executive, the Executive will be deemed
  to have voluntarily terminated his employment and (2) if delivered by the Company, the Company
  will be deemed to have terminated the Executive other than by reason of death, disability or Cause.

	 
	
               2.             Termination or Cancellation Prior to Change in Control. The Company shall retain the right to terminate the employment of the Executive at any time prior
to a Change in Control of the Company, subject to the terms and conditions of any other then existing
written employment arrangement or agreement between the Executive and the Company; provided, however, that if the Executive’s employment is terminated by the Company, other than by reason of (i) death,
(ii) disability in accordance with Section 12 hereof, or (iii) Cause, at any time
after Board of Directors’ authorized negotiations are commenced between the Company and another
Person which ultimately lead to a Change in Control of the Company, then the Executive shall be entitled
to receive at the earlier to occur of the closing or the effective date of such Change in Control
of the Company all Accrued Benefits and a Termination Payment, including benefits under Section 8(b)
hereof, as if such termination of employment was a Covered Termination under Section 8 hereof.
Other than as set forth above or as provided in Section 17 hereof, in the event the Executive’s
employment is terminated prior to a Change in Control of the Company, this Agreement shall be terminated
and canceled and of no further force and effect and any and all rights and obligations of the parties
hereunder shall cease.

               3.             Employment Period. If a Change in Control of the Company occurs when the Executive is employed by the Company, then
the Company will continue thereafter to employ the Executive during the Employment Period, and the
Executive will remain in the employ of the Company, in accordance with and subject to the terms and
provisions of this Agreement (including, without limitation, the Executive’s right to exercise
a Discretionary Termination), and the terms of this Agreement shall expressly supersede the terms
and conditions of any other then existing employment arrangement or agreement between the Company
and the Executive.

               4.             Duties. During the Employment Period, the Executive shall, in the same capacities and positions held by the
Executive at the time immediately prior to the Change in Control of the Company or in such other
capacities and positions as may be agreed to by the Company and the Executive in writing, devote
the Executive’s commercially reasonable efforts and business time, attention and skill during
normal business hours to the business and affairs of the Company, as such business and affairs now
exist and as they may hereafter be conducted, all consistent with the Company’s and the Executive’s
practices immediately prior to the Change in Control of the Company. During the Employment Period,
it shall not be a violation of this 

	

7

	
Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees, (B)
deliver lectures, fulfill speaking engagements or teach at educational institutions and/or (C) manage
personal investments, so long as such activities do not significantly interfere with the performance
of the Executive’s responsibilities as an employee of the Company in accordance with this Agreement.
It is expressly understood and agreed that, to the extent that any such activities have been conducted
by the Executive prior to the Change in Control of the Company, the continued conduct of such activities
(or the conduct of activities similar in nature and scope thereto) subsequent to the Change in Control
of the Company shall not thereafter be deemed to interfere with the performance of the Executive’s
responsibilities to the Company hereunder. The services which are to be performed by the Executive
hereunder are to be rendered in the same metropolitan area in which the Executive was employed immediately
prior to the time of such Change in Control of the Company, or in such other place or places as shall
be mutually agreed upon in writing by the Executive and the Company from time to time. 

               5.             Compensation. During the Employment Period, the Executive shall be compensated as follows:

                                (a)           The Executive shall receive, at
such intervals and in accordance with such standard policies of the Company as may be in effect immediately
prior to the Change in Control of the Company, an annual base salary in cash of not less than the
Executive’s annual base salary plus any annual bonus amounts received or receivable as in effect
immediately prior to the Change in Control of the Company and all other compensation otherwise reportable
on a Form W-2, subject to adjustment as hereinafter provided.

                                (b)           The Executive shall, at such intervals
and in accordance with such standard policies as may be in effect immediately prior to the Change
in Control of the Company, be reimbursed for any and all monies advanced in connection with the Executive’s
employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company,
including travel and entertainment expenses.

                                (c)           The Executive shall be included,
to the extent eligible thereunder (which eligibility shall not be conditioned on the Executive’s
salary grade or on any other requirement which excludes persons of comparable status to the Executive
unless such exclusion was in effect for such plan or an equivalent plan immediately prior to the
Change in Control of the Company), in any and all plans providing benefits for the Company’s
salaried employees in general, including but not limited to group life insurance, hospitalization,
medical, dental, profit sharing and stock bonus plans; provided, that, in no event shall the aggregate level of benefits under such plans in which the Executive is included
be less than the aggregate level of benefits under plans of the Company of the type referred to in
this Section 5(c) in which the Executive was participating immediately prior to the Change in
Control of the Company.

                                (d)           The Executive shall annually be
entitled to not less than the amount of paid vacation and not fewer than the number of paid holidays
to which the Executive was entitled annually immediately prior to the Change in Control of the Company
or such greater amount of paid vacation and number of paid holidays as may be made available annually
to other executives of the Company of comparable status and position to the Executive.

	

8

	
                                (e)           The Executive shall be included
in all plans providing additional benefits to executives of the Company of comparable status and
position to the Executive, including but not limited to deferred compensation, split-dollar life
insurance, supplemental retirement, stock option, stock appreciation, stock bonus, cash bonus and
similar or comparable plans; provided, that, in no event shall the aggregate level of benefits under such plans be less than the aggregate level
of benefits under plans of the Company of the type referred to in this Section 5(e) in which
the Executive was participating immediately prior to the Change in Control of the Company.

               6.             Annual Compensation Adjustments. During the Employment Period, the Board of Directors of the Company (or an appropriate committee
thereof) will consider and appraise, at least annually (beginning promptly after the first January
1 subsequent to the commencement of the Employment Period), the contributions of the Executive to
the Company’s operating and/or administrative efficiency, growth, cash flow from operations
and operating profits, and, in accordance with the Company’s practice and policies in effect
immediately prior to the Change in Control of the Company, due and good faith consideration shall
be given to the upward adjustment of the Executive’s base compensation rate, at least annually
(beginning promptly after the first January 1 subsequent to the commencement of the Employment Period),
commensurate with (i) increases generally given to other executives of the Company of comparable
status and position to the Executive, and (ii) as the scope of the Company’s operations
or the Executive’s duties expand.

               7.             Termination For Cause or Without Good Reason. If there is a Covered Termination for Cause or due to the Executive’s voluntarily terminating
his employment other than for Good Reason or a Discretionary Termination (any such terminations to
be subject to the procedures set forth in Section 13 hereof), then the Executive shall be entitled
to receive only Accrued Benefits pursuant to Section 9(a) hereof.

               8.             Termination Giving Rise to a Termination Payment.(a) If there is a Covered Termination by the Executive for Good Reason or a Discretionary
Termination, or by the Company other than by reason of (i) death, (ii) disability pursuant
to Section 12 hereof, or (iii) Cause, then the Executive shall be entitled to receive,
and the Company shall promptly pay, Accrued Benefits pursuant to Section 9(a) hereof and, in
lieu of further base salary for periods following the Termination Date, as liquidated damages and
severance pay, the Termination Payment pursuant to Section 9(b) hereof.

                                (b)            If there is a Covered Termination
and the Executive is entitled to Accrued Benefits and the Termination Payment, then the Executive
shall be entitled to the following additional benefits:

	 

	 	                                (i)            The Executive shall receive,
  at the expense of the Company, outplacement services on an individual basis provided by a nationally
  recognized executive placement firm selected by the Company and acceptable to Executive until the
  earlier of the third anniversary of the Termination Date (or, to the extent needed to avoid additional
  tax under Section 409A of the Code, until the last day of the second calendar year following the
  calendar year in which the Executive’s Separation from Service occurs) or such time as the Executive
  has obtained new full-time employment comparable to his position at the Company.

	

9

	 	                                (ii)           Until the earlier of the third
  anniversary of the Termination Date (or, to the extent needed to avoid additional tax under Section
  409A of the Code, until the last day of the second calendar year following the calendar year in which
  the Executive’s Separation from Service occurs) or such time as the Executive has obtained new
  employment and is covered by benefits which in the aggregate are at least equal in value to the following
  benefits the Executive shall continue to be covered, at the expense of the Company, by the same or
  equivalent life insurance, hospitalization, medical and dental coverage as was required hereunder
  with respect to the Executive immediately prior to the date the Notice of Termination is given. The
  continuation of hospitalization, medical and dental coverage hereunder shall count as COBRA continuation
  coverage.

	 
	
               9.             Payments Upon Termination.

                               (a)           Accrued Benefits. For purposes of this Agreement, the Executive’s “Accrued Benefits” shall include the
following amounts, payable as described herein: (i) all base salary for the time period ending
with the Termination Date; (ii) reimbursement for any and all monies advanced in connection
with the Executive’s employment for reasonable and necessary expenses incurred by the Executive
on behalf of the Company for the time period ending with the Termination Date; (iii) any and
all other cash earned though the Termination Date and deferred at the election of the Executive or
pursuant to any deferred compensation plan then in effect; (iv) a lump sum payment of the bonus,
incentive compensation and other compensation reportable on Form W-2 otherwise payable to the Executive
with respect to the year in which termination occurs under all bonus or incentive compensation plan
or plans of the Company in which the Executive is a participant; and (v) all other payments
and benefits to which the Executive may be entitled as compensatory fringe benefits or under the
terms of any benefit plan of the Company, including severance payments under the Company’s severance
policies and practices as in effect immediately prior to the Change in Control of the Company. Payment
of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice
with respect to Subsections (i) and (ii) or, with respect to Subsections (iii), (iv) and
(v), pursuant to the terms of the benefit plan or practice establishing such benefits.

                               (b)           Termination Payment. The Termination Payment shall be an amount equal to the average of the Executive’s annual total
compensation reportable on Form W-2 (i.e., base salary plus bonus amounts and all other taxable
compensation) over the last three (3) fiscal years of the Company preceding the fiscal year in which
the Change in Control of the Company occurs multiplied by three (3); provided, that, if the Executive has been employed by the Company for less than the three (3) full fiscal years preceding
the fiscal year in which the Change in Control of the Company occurs, then the Termination Payment
shall be an amount equal to the highest amount of the Executive’s annual total compensation
reportable on Form W-2 for any fiscal year (which amount shall be annualized for any fiscal year
in which Executive was employed for less than the entire fiscal year) during the period of his employment
by the Company prior to the Change in Control of the Company (including the fiscal year in which
the Change in Control of the Company occurs) multiplied by three (3). Except as otherwise provided
herein, the Termination Payment shall be paid to the Executive in cash no later than ten (10) business
days after the Termination Date. Notwithstanding the foregoing, if the Executive at the time of his
Separation from Service is a Specified Employee, and if the Termination Payment does not meet the
requirements for a short-term deferral within the meaning of Section 

	

10

	
409A of the Code, then payment shall be delayed until the first day of the seventh month following
the month in which the Executive’s Separation from Service occurs. The Executive shall not be
required to mitigate the amount of the Termination Payment by securing other employment or otherwise,
nor will such Termination Payment be reduced by reason of the Executive securing other employment
or for any other reason.

                               (c)           Gross-Up Provision.

	 

	 	                                (i)            Notwithstanding any other
  provision of this Agreement, if any portion of the Termination Payment, Accrued Benefits or any other
  payment or benefit under this Agreement, or payments to and for the benefit of the Executive under
  any other agreement or plan of the Company or any of its Affiliates, regardless of whether such payment
  or benefit was paid or provided for prior to the Covered Termination (herein all collectively referred
  to as the “Total Payments”), would constitute an “excess parachute payment,”
  the Company shall pay Executive an additional amount (the “Gross-Up Payment”) such that
  the net amount retained by Executive after deduction of any excise tax imposed under Section 4999
  of the Code, any interest charges or penalties in respect of the imposition of such excise tax (but
  not any federal, state or local income tax, or employment tax) on the Total Payments, and any federal,
  state and local income tax, employment tax, and excise tax upon the payment provided for by this
  Section 9(c), shall be equal to the Total Payments. For purposes of determining the amount of the
  Gross-Up Payment, Executive shall be deemed to pay federal income tax and employment taxes at the
  highest marginal rate of federal income and employment taxation in the calendar year in which the
  Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation
  in the state and locality of Executive’s domicile for income tax purposes on the date the Gross-Up
  Payment is made, net of the maximum reduction in federal income taxes that may be obtained from the
  deduction of such state and local taxes. 

		 
	 	                                (ii)           For purposes of this Agreement,
  the terms “excess parachute payment” and “parachute payments” shall have the
  meanings assigned to them in Section 280G of the Code and such “parachute payments” shall
  be valued as provided therein. Present value for purposes of this Agreement shall be calculated in
  accordance with Section 280G(d)(4) of the Code (or any successor provision). Promptly following a
  Covered Termination or notice by the Company to the Executive of its belief that there is a payment
  or benefit due the Executive which will result in an excess parachute payment as defined in Section
  280G of the Code, the Executive and the Company, at the Company’s expense, shall obtain the
  opinion (which need not be unqualified) of nationally recognized tax counsel (“National Tax
  Counsel”) selected by the Company’s independent auditors and reasonably acceptable to the
  Executive (which may be regular outside counsel to the Company), which opinion sets forth (i) the
  amount of the Base Period Income; (ii) the amount and present value of Total Payments; (iii) the
  amount and present value of any excess parachute payments; and (iv) the amount of any Gross-Up Payment.
  As used in this Agreement, the term “Base Period Income” means an amount equal to the Executive’s
“annualized includible compensation for the base period” as defined in Section 280G(d)(1)
  of the Code. For purposes of such opinion, the value of any noncash benefits or any deferred payment
  or benefit shall be determined by the 

	

11

	 	Company’s independent auditors in accordance with the principles of Section 280G(d)(3) and (4)
  of the Code (or any successor provisions), which determination shall be evidenced in a certificate
  of such auditors addressed to the Company and the Executive. The opinion of National Tax Counsel
  shall be addressed to the Company and the Executive and shall be binding upon the Company and the
  Executive. If such National Tax Counsel so requests in connection with the opinion required by this
  Section 9(c), the Executive and the Company shall obtain, at the Company’s expense, and the
  National Tax Counsel may rely on, the advice of a firm of recognized executive compensation consultants
  as to the reasonableness of any item of compensation to be received by the Executive solely with
  respect to its status under Section 280G of the Code and the regulations thereunder. Within five
  (5) days after the National Tax Counsel’s opinion is received by the Company and the Executive,
  the Company shall pay (or cause to be paid) or distribute (or cause to be distributed) to or for
  the benefit of Executive such amounts as are then due to Executive under this Agreement. 

		 
	 	                                (iii)          In the event that upon any audit by
  the Internal Revenue Service, or by a state or local taxing authority, of the Total Payments or Gross-Up
  Payment, a change is finally determined to be required in the amount of taxes paid by Executive,
  appropriate adjustments shall be made under this Agreement such that the net amount which is payable
  to the Executive after taking into account the provisions of Section 4999 of the Code shall reflect
  the intent of the parties as expressed in this Section 9, in the manner determined by the National
  Tax Counsel. 

		 

	 	                                (iv)          The Company agrees to bear all costs
  associated with, and to indemnify and hold harmless, the National Tax Counsel of and from any and
  all claims, damages, and expenses resulting from or relating to its determinations pursuant to this
  Section 9(c), except for claims, damages or expenses resulting from the gross negligence or willful
  misconduct of such firm. 

		 

	 	                                (v)           This Section 9(c) shall be amended
  to comply with any amendment or successor provision to Sections 280G or 4999 of the Code. If such
  provisions are repealed without successor, then this Section 9(c) shall be cancelled without further
  effect. 

	 
	
               10.         Death.   (a)  Except as provided in Section 10(b) hereof, in the event of a Covered Termination
due to the Executive’s death, the Executive’s estate, heirs and/or beneficiaries (as determined
by the Executive’s personal representative) shall receive all the Executive’s Accrued Benefits
through the Termination Date.

                               (b)           In the event the Executive dies
after a Notice of Termination is given (i) by the Company, other than by reason of disability,
or (ii) by the Executive for Good Reason or a Discretionary Termination, the Executive’s
estate, heirs and beneficiaries shall be entitled to the benefits described in Section 10(a)
hereof and, subject to the provisions of this Agreement, to such Termination Payment as the Executive
would have been entitled to had the Executive lived. For purposes of this Section 10(b), the
Termination Date shall be the earlier of thirty (30) days following the giving of the Notice of Termination
or one day prior to the end of the Employment Period.

	

12

	
                11.           Retirement. If, during the Employment Period, the Executive and the Company shall execute an agreement providing
for the early retirement of the Executive from the Company, or the Executive shall otherwise give
notice that he is voluntarily choosing to retire early from the Company, the Executive shall receive
Accrued Benefits through the Termination Date; provided, that, if the Executive’s employment is terminated by the Executive for Good Reason or a Discretionary
Termination or by the Company other than by reason of death, disability or Cause and the Executive
also, in connection with such termination, elects voluntary early retirement, the Executive shall
also be entitled to receive a Termination Payment pursuant to Section 9(b) hereof.

                12.           Termination for Disability. If, during the Employment Period, as a result of the Executive’s disability due to physical
or mental illness or injury (regardless of whether such illness or injury is job-related), the Executive
shall have been absent from the Executive’s duties hereunder on a full-time basis for twelve
(12) consecutive months and, within thirty (30) days after the Company notifies the Executive in
writing that it intends to terminate the Executive’s employment (which notice shall not constitute
the Notice of Termination contemplated below), the Executive shall not have returned to the performance
of the Executive’s duties hereunder on a substantially full-time basis, the Company may terminate
the Executive’s employment pursuant to a Notice of Termination given in accordance with Section 13
hereof. In the event the Executive’s employment is terminated on account of the Executive’s
disability in accordance with this Section, the Executive shall receive Accrued Benefits in accordance
with Section 9(a) hereof and shall remain eligible for all benefits provided by any long term
disability programs of the Company in effect at the time of such termination.

                13.           Termination Notice and Procedure. Any Covered Termination by the Company or the Executive shall be communicated by written Notice of
Termination to the Executive, if such Notice is given by the Company, and to the Company, if such
Notice is given by the Executive, all in accordance with the following procedures and those set forth
in Section 23 hereof:

                                (a)           If such termination is for disability,
Cause or Good Reason, the Notice of Termination shall indicate in reasonable detail the facts and
circumstances alleged to provide a basis for such termination. No such detail need be provided for
a Discretionary Termination.

                                (b)           Any Notice of Termination by the
Company shall have been approved, prior to the giving thereof to the Executive, by a resolution duly
adopted in good faith by a majority of the directors of the Company (or any successor corporation)
then in office.

                                (c)           The Executive shall have thirty
(30) days, or such longer period as the Company may determine to be appropriate, to substantially
cure any conduct or act, if curable, alleged to provide grounds for termination of the Executive’s
employment for Cause under this Agreement.

                                (d)           The recipient of the Notice of
Termination shall personally deliver or mail in accordance with Section 23 hereof written notice
of any dispute relating to such Notice of Termination to the party giving such Notice within fifteen
(15) days after receipt thereof; provided, however, that a Notice of Termination relating to a Discretionary Termination shall not 

	

13

	
be subject to dispute for any reason by the Company or otherwise. After the expiration of such fifteen
(15) days (or immediately upon receipt of a Notice of Termination relating to a Discretionary Termination),
the contents of the Notice of Termination shall become final and not subject to dispute.

                14.           Confidentiality Obligations of the Executive; Noncompetition; Nonsolicitation.

                                (a)           Executive acknowledges that all
secret or confidential information, knowledge or data relating to the Company or any of its Affiliates
and their respective businesses that Executive obtains during Executive’s employment by the
Company or any of its Affiliates and that is not public knowledge (other than as a result of the
Executive’s violation of this Section 14(a)) (“Confidential Information”) is highly
sensitive and proprietary and includes, without limitation: product design information, manufacturing
processes and methods, information regarding new product development, information regarding strategic
or tactical planning, information regarding pending or planned competitive bids, and information
regarding key employees. Executive shall not communicate, divulge or disseminate Confidential Information
at any time during or after Executive’s employment with the Company, except with the prior written
consent of the Company or as otherwise required by law or legal process. All computer software, telephone
lists, customer lists, price lists, contract forms, catalogs, records, files and know-how acquired
while an employee of the Company are acknowledged to be the property of the Company and shall not
be duplicated, removed from the Company’s possession or premises or made use of other than in
pursuit of the Company’s business or as may otherwise be required by law or any legal process,
and, upon termination of employment for any reason, Executive shall deliver to the Company, without
further demand, all such items and any copies thereof which are then in his or her possession or under his or her control.

                                (b)           While employed and for a one-year
period beginning on Executive’s termination of employment, Executive will not, except upon prior
written permission signed by an authorized officer of the Company, consult with or advise or, directly
or indirectly, as owner, partner, officer or employee, engage in business with any company in competition
with the Company or with any corporation or entity controlled by, controlling or under common control
with any such company. Notwithstanding the foregoing, Executive may make and retain investments in
not more than three percent of the equity of any such company if such equity is listed on a national
securities exchange or regularly traded in an over-the-counter market.

                                (c)           While employed and for a one-year
period beginning on Executive’s termination of employment, Executive will not, directly or indirectly,
solicit for employment or employ on behalf of any organization other than the Company or one of its
Affiliates or employ any person employed by the Company or any of its Affiliates, nor will Executive,
directly or indirectly, solicit for employment on behalf of any organization other than the Company
or one of its Affiliates or be involved in any way in the hiring process of any person known by Executive
(after reasonable inquiry) to be employed at the time by the Company or any of its Affiliates.

                                (d)           In the event of a breach of Executive’s
covenants under this Section 14, it is understood and agreed that the Company shall be entitled to
injunctive relief as well as any other legal or equitable remedies. Executive acknowledges and agrees
that the covenants, 

	

14

	
obligations and agreements of the Executive in this Section 14 relate to special, unique and extraordinary
matters and that a violation of any of the terms of such covenants, obligations or agreements will
cause the Company irreparable injury for which adequate remedies are not available at law. Therefore,
Executive agrees that the Company shall be entitled to an injunction, restraining order or such other
equitable relief (without the requirement to post bond) as a court of competent jurisdiction may
deem necessary or appropriate to restrain Executive from committing any violation of such covenants,
obligations or agreements. These injunctive remedies are cumulative and in addition to any other
rights and remedies that the Company may have. The Company and Executive hereby irrevocably submit
to the exclusive jurisdiction of the courts of Wisconsin and the Federal courts of the United States
of America, located in Milwaukee, Wisconsin, in respect of all disputes involving Confidential Information,
trade secrets or the violation of the provisions of this Section 14.

                15.           Expenses and Interest. If, after a Change in Control of the Company, a good faith dispute arises with respect to the enforcement
of the Executive’s rights under this Agreement or if any legal or arbitration proceeding shall
be brought in good faith to enforce or interpret any provision contained herein, or to recover damages
for breach hereof, the Executive shall recover from the Company any reasonable attorneys’ fees
and necessary costs and disbursements incurred by the Executive as a result of such dispute, legal
or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment
or arbitration award obtained by the Executive calculated at the rate of interest announced by US
Bank, N.A. from time to time as its prime or base lending rate from the date that payments to him
should have been made under this Agreement. Within ten (10) days after the Executive’s written
request therefor, the Company shall pay in cash to the Executive, or such other person or entity
as the Executive may designate in writing to the Company, the Executive’s Expenses in advance
of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

                16.           Payment Obligations Absolute. The Company’s obligations during and after the Employment Period to pay the Executive the amounts
and to make the benefit and other arrangements provided herein shall be absolute and unconditional
and shall not be affected by any circumstances, including, without limitation, any set off, counterclaim,
recoupment, defense or other right which the Company may have against him or anyone else. Except
as provided in Section 15 of this Agreement, all amounts payable by the Company hereunder shall
be paid without notice or demand. Except as provided in Section 9(b) of this Agreement, each
and every payment made hereunder by the Company shall be final, and the Company will not seek to
recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto,
for any reason whatsoever. In no event shall the Executive be obligated to seek other employment
or take any other action by way of mitigation of the amounts payable to the Executive under any of
the provisions of this Agreement, and such amounts shall not be reduced whether or not the Executive
obtains other employment.

                17.           Assignment: Successors. (a)  If the Company proposes to engage in a potential Change of Control of the Company, then,
at least ten (10) days in advance of the closing of such event, the Company shall, subject only to
consummation of such Change in Control of the Company, assign all of its right, title and interest
in this Agreement effective as of the closing date of such event to such Person, and the Company
shall cause such Person, at least ten (10) days in advance of the closing of such event, by written
agreement in form and substance 

	

15

	
reasonably satisfactory to the Executive and with written notice thereof to Executive, to expressly
assume and agree to perform, subject only to consummation of such Change in Control of the Company,
from and after the effective date of such event all of the terms, conditions and provisions imposed
by this Agreement upon the Company. If such Change in Control of the Company is consummated, failure
of the Company to obtain such an assumption agreement at least ten (10) days in advance of the closing
of such event shall be a breach of this Agreement constituting “Good Reason” hereunder,
except that for purposes of implementing the foregoing, the date upon which such transfer or other
succession becomes effective shall be deemed the Termination Date. In case of an effective assignment
by the Company and of assumption and agreement by such Person, “Company” shall thereafter
mean such Person which executes and delivers the agreement provided for in this Section 17 or
which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law,
and this Agreement shall inure to the benefit of and be enforceable by such Person. The Executive
shall, in his discretion, be entitled to proceed against any or all of such Persons, any Person which
theretofore was such a successor to the Company (as defined in the first paragraph of this Agreement)
and the Company (as so defined) in any action to enforce any rights of the Executive hereunder. Except
as provided in this Subsection, this Agreement shall not be assignable by the Company. This Agreement
shall not be terminated by the voluntary or involuntary dissolution of the Company.

                                (b)           This Agreement and all rights
of the Executive shall inure to the benefit of and be enforceable by the Executive’s personal
or legal representatives, executors, administrators, heirs and beneficiaries. All amounts payable
to the Executive under Sections 7, 8, 9, 10, 11 and 12 hereof if the Executive had lived shall
be paid, in the event of the Executive’s death, to the Executive’s estate, heirs and representatives.

                18.           Severability. The provisions of this Agreement shall be regarded as divisible, and if any of said provisions or
any part hereof are declared invalid or unenforceable by a court of competent jurisdiction, the validity
and enforceability of the remainder of such provisions or parts hereof and the applicability thereof
shall not be affected thereby.

                19.           Amendment. This Agreement may not be amended or modified at any time except by written instrument executed by
the Company and the Executive.

                20.           Withholding. The Company shall be entitled to withhold from amounts to be paid to the Executive hereunder any
federal, state or local withholding or other taxes or charges which it is from time to time required
to withhold; provided, that, the amount so withheld shall not exceed the minimum amount required to be withheld by law. The Company
shall be entitled to rely on an opinion of nationally recognized tax counsel if any question as to
the amount or requirement of any such withholding shall arise.

                21.           Certain Rules of Construction. No party shall be considered as being responsible for the drafting of this Agreement for the purpose
of applying any rule construing ambiguities against the drafter or otherwise. No draft of this Agreement
shall be taken into account in construing this Agreement. Any provision of this Agreement which requires
an agreement in writing shall be deemed to require that the writing in question be signed by the
Executive and an authorized representative of the Company.

	

16

	
                22.           Governing Law: Resolution of Disputes. This Agreement and the rights and obligations hereunder shall be governed by and construed in accordance
with the laws of the State of Wisconsin. Any dispute arising out of this Agreement shall, at the
Executive’s election, be determined by arbitration under the rules of the American Arbitration
Association then in effect or by litigation. Whether the dispute is to be settled by arbitration
or litigation, the venue for the arbitration or litigation shall be Milwaukee, Wisconsin or, at the
Executive’s election, in the judicial district encompassing the city in which the Executive
resides. The parties consent to personal jurisdiction in each trial court in the selected venue having
subject matter jurisdiction notwithstanding their residence or situs, and each party irrevocably
consents to service of process in the manner provided hereunder for the giving of notices.

                23.           Notice. Notices given pursuant to this Agreement shall be in writing and, except as otherwise provided by
Section 13(d) hereof, shall be deemed given when actually received by the Executive or actually
received by the Company’s General Counsel or any officer of the Company other than the Executive.
If mailed, such notices shall be mailed by United States registered or certified mail, return receipt
requested, addressee only, postage prepaid, if to the Company, to Bucyrus International, Inc., Attention:
General Counsel, 1100 Milwaukee Avenue, South Milwaukee, Wisconsin 53172-0500, or if to the
Executive, at the address set forth below the Executive’s signature to this Agreement, or to
such other address as the party to be notified shall have theretofore given to the other party in writing. 

                24.           No Waiver. No waiver by either party at any time of any breach by the other party of, or compliance with, any
condition or provision of this Agreement to be performed by the other party shall be deemed a waiver
of similar or dissimilar provisions or conditions at the same time or any prior or subsequent time.

                25.           Headings. The headings herein contained are for reference only and shall not affect the meaning or interpretation
of any provision of this Agreement.

	 
	 
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17

	
                                IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first written above.

	 

	EXECUTIVE	 	BUCYRUS INTERNATIONAL, INC.
	   
	 	 	By:	 
	
	 	 	

	Name:	 	 	Name:
	 	 	 	Title:
	Residential Address:	 	 	 
	 	 	 	 
	
	 	 	 
	 	 	 	 
	
	 	 	 

	

18

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