Document:

Employment Agreement with William Cook

 Exhibit 10.28 

 

 

 27275 Haggerty Rd. 
 Suite 680 
 Novi, MI 48377 
 Tel. (248) 675-6000 
 Fax (248) 675-6200 
 July 26, 2009 
 Mr. William R. Cook

  
 Dear Bill: 
 Reference is hereby made to the Employment Agreement between Tower Automotive Operations USA I, LLC (the “Company”) and you dated as of
September 25, 2007 (the “Employment Agreement”). Capitalized terms used in this letter and not specifically defined in this letter shall have the meanings set forth in the Employment Agreement. The purpose of this letter to is
memorialize the extension of the employment relationship under the Employment Agreement (as contemplated by Section 2 of the Employment Agreement) and our mutual agreement with respect to the “Severance Amount” (under
Section 5.2(b) of the Employment Agreement). 
 Subject to your acceptance of the terms set forth in this letter (by signing the enclosed
copy of this letter and returning it to me within the time frame provided): 
 1. Extension Notice. This letter shall serve as the
Company’s written notice to you of its intention to extend the Term of the Employment Agreement and shall be deemed the Extension Notice contemplated under Section 2 of the Employment Agreement. Accordingly, upon expiration of the Initial
Term (i.e., September 24, 2009), the employment relationship under the Employment Agreement shall be extended for an additional period of one (1) year commencing on September 25, 2009, subject to earlier termination pursuant to
Section 5 of the Employment Agreement. 
 2. Severance Amount. Effective as of September 25, 2009, the Severance Amount shall
be limited to one times your annualized rate of Base Salary in effect as of the effective date of termination. Accordingly, effective as of September 25, 2009, Section 5.2(b)(i) of the Employment Agreement is hereby deleted and replaced
with the following: 
 “(i) an aggregate amount (the “Severance Amount”) equal to one times
Employee’s annualized rate of Base Salary in effect as of the effective date of termination. 

 The Severance amount, less standard income and payroll tax withholdings and
other authorized deductions, shall be payable in twelve (12) equal monthly installments, commencing within seventy-five (75) days following the Employee’s date of termination, but not later than March 15 of the year following the
year in which the Employee’s date of termination occurs; provided, however, that payment of the Severance Amount shall not commence unless the Release becomes effective. Each installment of the Severance Amount shall be treated as a separate
payment for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the “Code”); and 
 Except as specifically set forth in this letter, all terms of the Employment Agreement shall remain unmodified and in full force and in effect. 
 Please acknowledge your understanding and agreement with the terms set forth in this letter by signing the enclosed copy of this letter and returning it to
me on or before August 24, 2009. If you do not sign and return this letter within the time frame provided, this letter (including, without limitation, the Extension Notice) shall be void and of no force and effect. 
 We look forward to your continued service to the Company. 
  

	
	 /s/ Mark M. Malcolm

	Mark M. Malcolm, President & CEO
	Tower Automotive, LLC

 Agreed and accepted this 17th day of
August, 2009. 
  

	
	 /s/ William R. Cook

	William R. Cook

  

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 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT (“Agreement”) dated as of September 25, 2007 between Tower Automotive Operations USA I, LLC, a Delaware
limited liability company (the “Company”), and William R. Cook, an individual (the “Employee”). (Company and Employee, each a “Party” and, collectively, the “Parties”). 
 WHEREAS, the Parties wish to establish the terms of the Employee’s employment with the Company. 
 Accordingly, the Parties agree as follows: 
 1. Employment and Acceptance. The Company shall employ the Employee, and the Employee shall accept employment, subject to the terms of this Agreement, effective as of September 25, 2007 (the
“Effective Date”). 
 2. Term. Subject to earlier termination pursuant to Section 5 of this Agreement, the
employment relationship hereunder shall continue from the Effective Date until the second (2nd) yearly anniversary of the Effective Date (the “Initial Term”). Effective upon the expiration of the Initial Term and of each Additional
Term (as defined below), if any, this Agreement and the employment relationship hereunder may be extended for an additional period of one (1) year, subject to earlier termination pursuant to Section 5 of this Agreement (each, an
“Additional Term”), in each such case commencing upon the expiration of the Initial Term or the then-current Additional Term, as the case may be, but only if, at least sixty (60) calendar days prior to the expiration of the Initial
Term or the then-current Additional Term, as the case may be, the Company shall have given written notice to the Employee of its intention to extend the Term (as defined below) of this Agreement (the “Extension Notice”). In the event that
the Company does not provide an Extension Notice in the manner set forth in the preceding sentence, the Term automatically shall expire at the end of the Initial Term or the then-current Additional Term, as the case may be. As used in this
Agreement, the “Term” shall refer to the period beginning on the Effective Date and ending on the date the Employee’s employment terminates in accordance with this Section 2 or Section 5 of this Agreement. Upon the
expiration of the Term or earlier termination of this Agreement and the employment relationship hereunder, the Company shall have no further obligations to the Employee under this Agreement or otherwise, except as specifically set forth in
Section 5 of this Agreement. 
 3. Duties and Title. 
 3.1 Title. The Company shall employ the Employee to render exclusive and full-time services to the Company and the other members of
the Company Group (as defined below). The Employee shall serve in the capacity of Senior Vice President Human Resources of the Company and in such other positions or capacities commensurate with his position as may be requested by the Board of
Managers of the Company (the “Board”) and/or the Chief Executive Officer of the Company (the “CEO”) (including, without limitation, serving as an officer of, or in another other capacity for, one or more members of the Company
Group), and

 
shall report directly to the CEO. As used in this Agreement: (a) “Company Group” means the Company and its Affiliates, as well as any predecessors, past and future successors or
assigns (including, without limitation, the purchaser of all or any assets of the Company or any of its Affiliates) of the Company or any of its Affiliates; and (b) “Affiliate” of any individual or entity shall mean any other
individual or entity that directly or indirectly controls, is controlled by, or is under common control with, the individual or entity. For purposes of this Agreement, an Affiliate of the Company shall mean only Tower Automotive, LLC and any entity
that is owned or controlled by Tower Automotive, LLC. 
 3.2 Duties. During the Term, the Employee will have such
authority and responsibilities and will perform such duties as are customarily performed by a Senior Vice President Human Resources of a company in similar lines of business as the Company and its Affiliates or as may be assigned to the Employee by
the Board and/or the CEO, including, without limitation, performing services for the other members of the Company Group. Additionally, Employee shall be responsible for day to day matters relating to the human resources of the Company Group.
Notwithstanding anything contained herein to the contrary, the Employee’s authority and responsibilities shall be limited to the extent determined by the Board and/or the CEO. During the Term, the Employee shall devote all of his full
working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company Group; provided, however, that Employee may serve as a director of an entity with the written approval of the Board or the
CEO, engage in charitable actives and manage his own personal investments so long as such activities do not interfere with his duties and responsibilities hereunder. 
 3.3 Location. The Employee shall perform his full-time services to the Company Group in the Company’s Novi, Michigan office; provided, however, the Employee shall be required to
travel as necessary to perform his duties hereunder. 
 4. Compensation and Benefits by the Company. As compensation for
all services rendered pursuant to this Agreement (including, without limitation, services as an officer, director or member of any committee of any member of the Company Group or any division of a member of the Company Group), the Company shall
provide the Employee with the following during the Term: 
 4.1 Base Salary. During the Term, the Company will pay to
the Employee a base salary of Three Hundred Twenty Five Thousand and 00/100 Dollars ($325,000) on an annualized basis, payable in accordance with the customary payroll practices of the Company (“Base Salary”). The Base Salary shall be
subject to periodic review and such periodic adjustments as the Board and/or CEO deems appropriate in their discretion. Except to the extent commensurate with “across the board” reductions in base salaries made applicable to similarly
situated officers of the Company, Employee’s Base Salary may not be decreased. 
 4.2 Annual Bonus. For each
calendar year ending during the Term, the Employee shall be eligible to receive, under the Company’s annual incentive plan, an annual variable bonus payment with a target gross amount of seventy five percent (75%) of the

  

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Employee’s annualized Base Salary (as in effect as of the end of the applicable year) (the “Annual Bonus”); provided, however, the Annual Bonus for 2007 (if any)
shall be prorated based upon the Effective Date (i.e., the target gross amount of Employee’s Annual Bonus for 2007 shall be seventy five (75%) of the Base Salary actually earned by the Employee in 2007). The precise amount of the
Annual Bonus shall be based on Employee’s achievement of objectives set by the Board or a committee thereof at the beginning of the applicable year; provided, however, that Employee’s objectives for 2007 shall be set by the
Board within sixty (60) days of the Effective Date. The Annual Bonus payment shall be due and payable at such time or times as the Board determines, but not later than thirty (30) days following approval by the Board (or committee thereof)
of the audited financial statements of the Company Group for the applicable year (the “Annual Bonus Approval Date”). To be eligible to receive any Annual Bonus (or portion thereof), the Employee must be employed by the Company on the
Annual Bonus Approval Date. 
 4.3 Participation in Employee Benefit Plans. The Employee shall be entitled during the
Term, if and to the extent eligible, to participate in all of the applicable benefit plans (excluding severance plans, if any) of the Company, which may be available to other senior executives of the Company. The Company may at any time, or from
time to time, amend, modify, suspend or terminate any employee benefit plan, program or arrangement for any reason without the Employee’s consent if such amendment, modification, suspension or termination is consistent with the amendment,
modification, suspension or termination for other executives of the Company. 
 4.4 Expense Reimbursement. During the
Term, the Employee shall be entitled to receive reimbursement for all appropriate business expenses incurred by him in connection with his duties under this Agreement in accordance with the policies of the Company as in effect from time to time.

 4.5 Relocation Assistance. If, during the Term, the Employee elects to relocate his primary residence to the Novi,
Michigan area, the Company will pay when due or reimburse the Employee for the reasonable costs of the relocation, not to exceed One Hundred Thousand and 00/100 Dollars ($100,000), subject to the provisions of the Company’s relocation policy in
place from time to time. Such reimbursement, if any, shall be made to the Employee within forty-five (45) days following the Employee’s delivery to the Company of paid invoices substantiating such expenses. To the extent the Company’s
payment or reimbursement of such relocation expenses are required to be included in the Employee’s income for income tax purposes, the Company will pay to the Employee an amount necessary to “gross up” the Employee for state and
federal income tax purposes (and for such taxes on such gross-up payment), which “gross up” amount shall be paid to the Employee not later than forty-five (45) days following the Employee’s delivery to the Company of paid
invoices substantiating the payment of such taxes. The Employee agrees to remit paid invoices for relocation expenses for which he seeks reimbursement and paid invoices for taxes related to the payment or reimbursement for the relocation expenses
within thirty (30) days of the date of payment. To induce the Company to offer to pay or reimburse the Employee for his moving expenses and pay any applicable “gross-up” amount (collectively, the “Relocation Assistance”),
the Employee has

  

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indicated his intention to remain employed by the Company for at least twelve (12) months following the date that he relocates to the Novi, Michigan area. Accordingly, in the event that the
Employee voluntarily terminates his employment with the Company without Good Reason prior to the twelve (12) month anniversary of his relocation to the Novi, Michigan area or if the Employee’s employment is terminated by the Company for
Cause (as defined below) prior to the twelve (12) month anniversary of his relocation to the Novi, Michigan area, the Employee agrees to pay back the Relocation Assistance to the Company immediately upon termination. 
 4.6 Management Incentive Plan. The Employee shall be eligible to participate in the Tower Automotive Management, LLC 2007 Management
Incentive Plan (the “MIP”). Employee’s participation in the MIP and rights thereunder shall be subject to the terms of the MIP and any applicable grant or other agreements under the MIP as determined by the Board or committee thereof.
Subject to the Employee’s execution of the Unit Award Agreement attached hereto as Exhibit A, the Employee shall be awarded the number of Nonvoting Units of Tower Automotive Management, LLC pursuant to the MIP set forth in such Unit
Award Agreement, and the terms and conditions of such Nonvoting Units shall be subject to the terms of the MIP and such Unit Award Agreement. 
 5. Termination of Employment. 
 5.1 By the Company for Cause or by the
Employee Without Good Reason If: (i) the Company terminates the Employee’s employment with the Company for Cause; or (ii) the Employee terminates his employment with the Company without Good Reason (as defined below), provided
that the Employee shall be required to give the Company at least sixty (60) days prior written notice of such termination (subject to the Company’s right to accept Employee’s notice of termination and to accelerate such notice and
make the Employee’s termination effective immediately, or on any other date prior to Employee’s intended last day of work as the Company deems appropriate, which acceleration shall in no event be deemed a termination by the Company without
Cause), then the Employee shall be entitled to receive, and the Company’s sole obligation under this Agreement or otherwise shall be to pay or provide to the Employee, the following (collectively, the “Accrued Benefits”): 

(a) the Employee’s earned, but unpaid, Base Salary through the effective date of termination (payable in accordance with
Section 4.1 of this Agreement) and any amounts or benefits (if any) that are vested amounts or vested benefits or that the Employee is otherwise entitled to receive under the express provision of any plan, program, policy or practice on the
effective date of termination (excluding, without limitation, severance pay plans (if any) and any amounts or benefits that are forfeited in the event of a termination for Cause, termination by the Employee for any reason or no reason or other
termination in accordance with the terms of the applicable plan, programs, policy, or practice), which amounts and/or benefits shall be payable or provided in accordance with the terms of such plan, program policy, or practice; 
 (b) any Annual Bonus (or portion thereof), if any, relating to the calendar year prior to the calendar year in which the effective date of
the Employee’s

  

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termination occurs that was earned on the applicable Annual Bonus Approval Date, but unpaid, as of the date of termination, which unpaid Annual Bonus (or portion thereof) shall be payable within
thirty (30) days of the date of termination; and 
 (c) expenses reimbursable under Section 4.4 of this Agreement
incurred, but not yet reimbursed to the Employee, to the date of termination. 
 For the purposes of this Agreement,
“Cause” means, as determined by a majority of the Board and/or the CEO, in the Board’s and/or the CEO’s reasonable business judgment acting in good faith and engaging in fair dealing with the Employee, with respect to conduct
during the Employee’s employment with the Company, whether or not committed during the Term: (i) commission of a felony by the Employee; (ii) acts of dishonesty by the Employee resulting or intending to result in personal gain or
enrichment at the expense of any member of the Company Group or any of their respective Affiliates; (iii) the Employee’s appropriation (or attempted appropriation) of any business opportunity of any member of the Company Group or any of
their respective Affiliates, including, without limitation, attempting to secure or securing any personal profit or benefit in connection with any transaction entered into by or on behalf of any member of the Company Group or any of their respective
Affiliates; (iv) the Employee’s material breach of any of his duties, representations, warranties, covenants or other obligations under this Agreement; (v) conduct by the Employee in connection with his duties hereunder that is
fraudulent or grossly negligent or that the Employee knew or reasonably should have known to be unlawful, provided that any action taken by the Employee on the advice of the Company’s General Counsel (or his/her designee) shall not be treated
as unlawful for purposes of this clause (v); (vi) engaging in personal conduct by the Employee (including but not limited to, employee harassment or discrimination, or the use or possession at work of any illegal controlled substance) which
seriously discredits or damages any member of the Company Group or any of their respective Affiliates; (vii) contravention of specific lawful direction of the Board and/or CEO, failure to adhere to any applicable policy or procedure of the
Company of which the Employee has knowledge or which has been provided to the Employee in writing, or inattention to or failure to attempt, in good faith, to perform the material duties to be performed by the Employee under the terms of this
Agreement; or (viii) breach of the Employee’s covenants set forth in Section 6 of this Agreement before termination of employment; provided, that, with respect to clauses (iv) and (vii) only, the Employee shall have thirty
(30) days after notice from the Company, which notice shall set forth in reasonable detail a description of the deficiency determined by the Board and/or CEO to constitute Cause, to cure the deficiency leading to the Cause determination, if
curable. A termination for “Cause” shall be effective immediately (or on such other date set forth by the Company). 
 For the purposes of this Agreement, “Good Reason” means, without the Employee’s consent, (i) a material adverse reduction in Employee’s authority, responsibilities or duties as Senior Vice President Human Resources
of the Company; or (ii) the Company’s material breach of the Agreement; provided that a suspension of the Employee and the requirement that the Employee not report to work shall not constitute “Good Reason” if the Employee
continues to receive the compensation and benefits required by this Agreement. 
  

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 Employee shall be deemed to have consented to any act or event that would otherwise give
rise to “Good Reason,” unless Employee provides written notice to the Company specifying the act or event within thirty (30) days following the occurrence of such act or event. The Company shall have thirty (30) days after
receipt of notice from the Employee specifying the act or event otherwise constituting Good Reason to cure the act of event that otherwise would constitute Good Reason. 
 5.2 By the Company Without Cause or By the Employee for Good Reason or Due to Death or Disability or Expiration of the Term. If: (i) the Employee’s employment terminates due to his death;
(ii) the Company terminates the Employee’s employment without Cause (which may be done at any time with or without prior notice); (iii) the Company terminates the Employee’s employment due to the Employee’s Disability (as
defined below); (iv) the Employee terminates his employment for Good Reason, upon at least thirty (30) days prior written notice and opportunity to cure; or (v) the employment relationship hereunder is terminated as a result of the
expiration of the Term (arising out of the Company’s determination not to deliver an Extension Notice and regardless of whether the expiration of the Term occurs at the end of the Initial Term or an Additional Term), then the Employee (or, in
the event of the Employee’s death or incapacity, the Employee’s legal representative) shall be entitled to receive, and the Company’s sole obligation under this Agreement or otherwise shall be to pay or provide: 
 (a) the Accrued Benefits; and 
 (b) subject to the Employee’s (or, in the event of the Employee’s death or incapacity, the Employee’s legal representative’s) execution, delivery and non-revocation of a general
release in a form satisfactory to the Company (the “Release”), which Release, among other things, shall include a general release of the members of the Company Group, each of their respective direct and indirect parent entities and direct
and indirect subsidiaries and each their respective Affiliates, and each of their respective officers, directors, employees, shareholders, members, managers, partners, plan administrators, and agents, as well as the predecessors, past and future
successors and assigns or estates of any of the foregoing, from all liability; provided, however, the Release will preserve the Employee’s rights, if any, (i) to indemnification under the Company’s operating agreement (as amended from
time to time), applicable law or otherwise and coverage under the Company’s Directors and Officers liability insurance policies for any claims arising out of or relating to the Employee’s employment with the Company, (ii) to the
Accrued Benefits, (iii) under COBRA, and (iv) under any provisions of this Agreement that are intended to survive the termination of this Agreement and the Employee’s employment hereunder (including, without limitation, the
Company’s obligations under this Section 5.2): 
 (i) an amount (the “Severance Amount”) equal to:

 (A) if the effective date of termination occurs prior to the expiration of the Initial Term, an amount equal to the larger
of (X) the cumulative Base Salary payments that Employee would have received for the remainder of the Initial term (determined based on the rate of Base Salary in effect as of the effective date of termination) or (Y) one times the
Employee’s annualized rate of Base Salary (determined based on the rate of Base Salary in effect as of the effective date of termination); or 
  

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 (B) if the effective date of termination occurs on the last day of the Initial Term or
during an Additional Term, one times the Employee’s annualized rate of Base Salary (determined based on the rate of Base Salary in effect as of the effective date of termination). 
 The Severance Amount, less standard income and payroll tax withholding and other authorized deductions, shall be payable in twelve
(12) equal monthly installments, commencing within seventy-five (75) days following the Employee’s date of termination, but not later than March 15 of the year following the year in which the Employee’s date of termination
occurs; provided, however, that payment of the Severance Amount shall not commence unless the Release is executed and delivered to the Company and has not been revoked. Each installment of the Severance Amount shall be treated as a
separate payment for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (collectively, the “Code”); and 
 (ii) if the Employee (or, if eligible for continuation coverage under the terms of such plans and applicable law, the Employee’s legal
representatives) elects continuing group coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall waive the cost of such coverage to the extent that such cost exceeds the cost
that the Company charges active employees for similar coverage until the earlier of (x) the first twelve (12) months of COBRA coverage (the “Subsidized COBRA Coverage Period), or (y) the date that the Employee (or the
Employee’s legal representatives, if applicable) are covered under another group health plan, subject to the terms of the plans and applicable law; provided, however, if the effective date of termination occurs prior to the date
that the Initial Term would have expired, then the Subsidized COBRA Coverage Period will be equal to the greater of (X) twelve (12) full calendar months or (Y) the number of full calendar months from the effective date of termination
to the expiration of the Initial Term (e.g., if the effective date of termination is sixteen (16) full calendar months prior to the date that the Initial Term would have expired, the Subsidized COBRA Coverage Period shall be equal to the
first sixteen (16) months of COBRA coverage). 
 The Company shall have no obligation to provide the payments and benefits
(other than Accrued Benefits) set forth above in the event that Employee breaches the provisions of Section 6 of this Agreement. 
  

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 For the purposes of this Agreement, “Disability” means a determination by the
Company in accordance with applicable law that, as a result of a physical or mental injury or illness, the Employee is unable to perform the essential functions of his job (with or without reasonable accommodation) for a period of (i) ninety
(90) consecutive days, or (ii) one hundred twenty (12) days in any twelve (12) month period. 
 5.3 No
Mitigation; No Offset. The Employee shall be under no obligation to seek other employment after his termination of employment with the Company and the obligations of the Company to the Employee which arise upon the termination of his employment
pursuant to this Section 5 shall not be subject to mitigation or offset. 
 5.4 Removal from any Boards and
Position. If the Employee’s employment is terminated for any reason under this Agreement, he shall be deemed to resign (i) if a member, from the board of directors of any member of the Company Group or any other board to which he has
been appointed or nominated by, or on behalf of the Company, or any other member of the Company Group, and (ii) from any position with any member of the Company Group, including but not limited to, as an officer of any member of the Company
Group; provided, however, the Employee agrees to take all further actions that are deemed reasonably necessary by the Company to effectuate or evidence such resignations. 
 6. Restrictions and Obligations of the Employee. 
 6.1 Confidentiality. (a) During the course of the Employee’s employment by the Company (prior to and during the Term) or otherwise, the Employee has had and will have access to certain
trade secrets and confidential information relating to the Company and its Affiliates, its and their respective direct and indirect parent entities and direct and indirect subsidiaries and each of their respective Affiliates, as well as their
respective predecessors, successors and assigns (collectively, the “Protected Parties”) which is not readily available from sources outside the Protected Parties. The confidential and proprietary information and trade secrets of the
Protected Parties are among their most valuable assets, including but not limited to, their customer, supplier and vendor lists, databases, competitive strategies, computer programs, frameworks, or models, their marketing programs, their sales,
financial, marketing, training and technical information, their product development (and proprietary product data) and any other information, whether communicated orally, electronically, in writing or in other tangible forms concerning how the
Protected Parties create, develop, acquire or maintain their products and marketing plans, target their potential customers and operate their businesses. The Protected Parties invested, and continue to invest, considerable amounts of time and money
in their process, technology, know-how, obtaining and developing the goodwill of their customers, their other external relationships, their data systems and databases, and all the information described above (hereinafter collectively referred to as
“Confidential Information”), and any misappropriation or unauthorized disclosure of Confidential Information in any form would irreparably harm the Protected Parties. The Employee acknowledges that such Confidential Information constitutes
valuable, highly confidential, special and unique property of the Protected Parties. The Employee shall hold in a fiduciary capacity for the benefit of the Protected Parties all Confidential Information relating to

  

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the Protected Parties and their businesses, which shall have been obtained by the Employee during the Employee’s employment by the Company or its Affiliates or otherwise and which shall not
be or become public knowledge (other than by acts by the Employee or representatives of the Employee in violation of this Agreement). Except in connection with the performance of his duties hereunder or as required by law or an order of a court or
governmental agency with jurisdiction, the Employee shall not, during the period the Employee is employed by the Company or its Affiliates or at any time thereafter, disclose any Confidential Information, directly or indirectly, to any person or
entity for any reason or purpose whatsoever, nor shall the Employee use it in any way, except in the course of the Employee’s employment with, and for the benefit of, the Protected Parties or to enforce any rights or defend any claims hereunder
or under any other agreement to which the Employee is a party, provided that such disclosure is relevant to the enforcement of such rights or defense of such claims and is only disclosed to the extent necessary in the formal proceedings related
thereto. The Employee shall take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse, espionage, loss and theft. The Employee understands and agrees that the Employee shall acquire no rights to
any such Confidential Information. 
 (b) All files, records, documents, drawings, specifications, data, computer programs,
evaluation mechanisms and analytics and similar items relating thereto or to the Business (for the purposes of this Agreement, “Business” shall be as defined in Section 6.3 hereof), as well as all customer lists, specific customer
information, compilations of product research and marketing techniques of the Protected Parties, whether prepared by the Employee or otherwise coming into the Employee’s possession, shall remain the exclusive property of the Company or other
Protected Parties, as applicable, and the Employee shall not remove any such items from the premises of the Company or other Protected Parties, except in furtherance of the Employee’s duties under this Agreement. 
 (c) It is understood that while employed by the Company or any of its Affiliates, the Employee will promptly disclose to the Company and to
no one else, any idea, invention, technique, modification, process, or improvement (whether patentable or not), any industrial design (whether registrable or not), any mask work, however fixed or encoded, that is suitable to be fixed, embedded or
programmed in a product (whether recordable or not) and any work of authorship (whether or not copyright protection may be obtained for it) created, conceived, or developed by the Employee or the Employee’s Affiliate (collectively, the
“Inventions”), either solely or in conjunction with others, during Employee’s employment with the Company or any of its Affiliates, that relates in any way to, or is useful in any manner to, the business then being conducted or
proposed to be conducted by any member of the Company Group or any of their respective Affiliates and any such item created by the Employee or the Employee’s Affiliate, either solely or in conjunction with others, that is based upon or uses
Confidential Information. Employee agrees that (i) each Invention belongs, or shall belong, exclusively to the Company from conception, (ii) all of the Employee’s writings, works of authorship, specially commissioned works, and other
Inventions are works made for hire and are the exclusive property of the Company, including any copyrights, patents, or other intellectual property rights pertaining thereto, and (iii) if it is determined that any such Inventions are not

  

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works made for hire, the Employee hereby irrevocably assigns to the Company all of the Employee’s right, title and interest, including rights of copyright, patent, and other intellectual
property rights, to or in such Inventions. The Employee covenants that the Employee shall promptly (i) provide a separate written irrevocable assignment to the Company, or to an individual or entity designated by the Company, at the
Company’s request and without additional compensation, all of the Employee’s right to any Inventions in the United States and all foreign jurisdictions, (ii) at the Company’s expense, execute and deliver to the Company such
applications, assignments, and other documents as the Company may request in order to apply for and obtain patents or other registrations with respect to any Invention in the United States and any foreign jurisdictions, (iii) at the
Company’s expense, execute and deliver all other papers deemed necessary by the Company to carry out the above obligations, and (iv) give testimony and render any other assistance in support of the Company’s rights to any Invention
(with the Company paying the Employee a reasonable fee for the Employee’s time if the Employee’s employment with the Company or any of its Affiliates has ended at the time of such testimony or assistance). In the event that the Company is
unable to secure the Employee’s signature after reasonable effort in connection with any patent, trademark, copyright or other similar protection relation to an Invention, the Employee irrevocably designates and appoints the Company and its
respective officers and agents as the Employee’s agent and attorney-in-fact, to act for and on the Employee’s behalf and stead to execute and file any such application and to do all other lawfully permitted acts to further the prosecution
and issuance of patents, trademarks, copyrights or similar protection thereon with the same legal force and effect as if executed by the Employee. At all times during and after the Employee’s employment by the Company, the Employee shall assist
the Company in obtaining, maintaining, and renewing patent, copyright, trademark and other appropriate protection for any Invention, in the United States and in any foreign jurisdictions, at the Company’s expense. 
 (d) As requested by the Company, from time to time and upon the termination of the Employee’s employment with the Company for any
reason or no reason, the Employee will promptly deliver to the Company all copies and embodiments, in whatever form, of all Confidential Information in the Employee’s possession or within his control (including but not limited to, memoranda,
records, notes, plans, photographs, manuals, notebooks, documentation, program listings, flow charts, magnetic media, disks, diskettes, tapes and all other materials containing any Confidential Information) irrespective of the location or form of
such material. If requested by the Company, the Employee will provide the Company with written confirmation that all such materials have been delivered to the Company as provided herein. 
 6.2 Non-Solicitation or Hire. During the Term and for a period of twelve (12) months following the termination of the
Employee’s employment for any reason or no reason (the “Non-Solicit Period”), the Employee shall not, directly or indirectly, solicit or attempt to solicit or induce or attempt to induce, directly or indirectly, (a) any
individual or entity who or which is a customer of the Company or any of the other Protected Parties, or who or which was a customer of the Company or any of the other Protected Parties at any time during the twelve (12) month period
immediately prior to the date the Employee’s employment

  

 -10- 

 
terminates, for the purpose of marketing, selling or providing to any such individual or entity any services or products offered by or available from the Company or any of the other Protected
Parties (provided that if the Employee intends to solicit any such party for any other purpose, he shall notify the Company of such intention and receive prior written approval from the Company), (b) any supplier to or customer or client of the
Company or any of the other Protected Parties to terminate, reduce or alter negatively its relationship with the Company or any of the other Protected Parties or in any manner interfere with any agreement or contract between the Company and/or any
of the other Protected Parties and such supplier, customer or client, or (c) any employee or agent of the Company or any of the other Protected Parties or any individual or entity who or which was an employee or agent of the Company or any of
the other Protected Parties during the twelve (12) month period immediately prior to the date the Employee’s employment terminates, to terminate such individual’s or entity’s employment relationship with, or engagement to perform
services for, the Protected Parties in order, in either case, to enter into a similar relationship with the Employee, or any other person or entity in competition with the Business of the Company or any of the other Protected Parties. Employee
further agrees that, during the Non-Solicit Period, he shall not, directly or indirectly, (a) hire or engage (or assist in the hiring or engaging of) any employee or agent of the Company or any of the other Protected Parties or any individual
or entity who or which was an employee or agent of the Company or any of the other Protected Parties during the twelve (12) month period immediately prior to the date the Employee’s employment terminates to enter into a similar
relationship with the Employee or any other person or entity in competition with the Business of the Company or any of the other Protected Parties, (b) solicit, divert with the intention to take away, or attempt to divert with the intention to
take away, any investment opportunity considered by Employer or any other Protected Party, or (c) interfere with, disrupt, or attempt to interfere with or disrupt, or assist others to disrupt or interfere with, the relationship, contractual or
otherwise, between the Company or of the other Protected Parties and any of their respective customers, clients, accounts, investors, suppliers, lessors, consultants, independent contractors, agents, or employees. 
 6.3 Non-Competition. During the Term and for a period of twelve (12) months following the termination of the Employee’s
employment by the Company or any of its Affiliates (for any reason or no reason) (the “Non-Compete Period”), the Employee shall not, directly or indirectly, whether individually, as a director, manager, member, shareholder, partner, owner,
employee, consultant or agent of any business, or in any other capacity, other than on behalf of the Company or its Affiliates, organize, establish, own, operate, manage, control, engage in, participate in, invest in, permit his name to be used by,
act as a consultant or advisor to, render services for (alone or in association with any person, firm, corporation or business organization), or otherwise assist any person or entity that engages in or owns, invests in, operates, manages or controls
any venture or enterprise which engages or proposes to engage in (a) the sale, distribution, manufacturing and/or design of structural metal components and assemblies for the automotive industry, or (b) any other business conducted by the
Company or any other member of the Company Group on the date of the Employee’s termination of employment or within twelve (12) months of the Employee’s termination of employment in the geographic locations where the Company and/or the
other members of the Company Group

  

 -11- 

 
engage or propose to engage in such business (the “Business”). Notwithstanding the foregoing, nothing in this Agreement shall prevent the Employee from owning for passive investment
purposes not intended to circumvent this Agreement, less than five percent (5%) of the publicly traded common equity securities of any company engaged in the Business (so long as the Employee has no power to manage, operate, advise, consult
with or control the competing enterprise and no power, alone or in conjunction with other affiliated parties, to select a director, manager, general partner, or similar governing official of the competing enterprise other than in connection with the
normal and customary voting powers afforded the Employee in connection with any permissible equity ownership). 
 6.4
Nondisparagement. The Employee agrees that he will not at any time (whether during or after the Term) publish or communicate to any person or entity any Disparaging (as defined below) remarks, comments or statements concerning the Company,
any of the other Protected Parties or any of their present or former respective members, partners, directors, officers, shareholders, employees, agents, attorneys, successors and assigns. “Disparaging” remarks, comments or statements are
those that impugn the character, honesty, integrity or morality or business acumen or abilities in connection with any aspect of the operation of business of the individual or entity being disparaged. 
 6.5 Property. The Employee acknowledges that all originals and copies of materials, records and documents generated by him or coming
into his possession or control during his employment by the Company or its Affiliates are the sole property of the Company and/or the other Protected Parties, as applicable (“Company Property”). During the Term, and at all times
thereafter, the Employee shall not remove, or cause to be removed, from the premises of the Company or any of the other Protected Parties, copies of any record, file, memorandum, document, computer related information or equipment, or any other item
relating to the business of the Company or any of the other Protected Parties, except in furtherance of his duties under the Agreement. When the Employee’s employment with the Company terminates, or upon request of the Company at any time, the
Employee shall promptly deliver to the Company all copies of Company Property in his possession or control. 
 6.6 Remedies;
Specific Performance; Calculation of Time Period. The Parties acknowledge and agree that the Employee’s breach or threatened breach of any of the restrictions set forth this Section 6 will result in irreparable and continuing damage to
the Protected Parties for which there may be no adequate remedy at law and that the Protected Parties shall be entitled to equitable relief, including specific performance and temporary, preliminary and permanent injunctive relief (without being
obligated to post a bond or other collateral) and to an equitable accounting of all earnings, profits and other benefits arising, directly or indirectly, from such violation, as remedies for any such breach or threatened or attempted breach. The
Employee hereby consents to the grant of an injunction (temporary or otherwise) against the Employee or the entry of any other court order against the Employee prohibiting and enjoining him from violating, or directing him to comply with, any
provision of this Section 6. The Employee also agrees that such remedies shall be in addition to any and all remedies, including damages, available to the Protected Parties against him for such breaches or threatened or attempted breaches. In
addition, without limiting the Protected Parties’ remedies

  

 -12- 

 
for any breach of any restriction on the Employee set forth in this Section 6, except as required by law, the Employee shall not be entitled to any payments set forth in Section 5.2 of
this Agreement hereof if the Employee has breached the covenants applicable to the Employee contained in this Section 6, the Employee will immediately return to the Company any such payments previously received under Section 5.2 of this
Agreement upon such a breach, and, in the event of such breach, the Company will have no obligation to pay any of the amounts that remain payable by the Company under Section 5.2 of this Agreement. Employee also agrees that, without limiting
the Protected Parties’ remedies for any breach or threatened breach of his obligations under this Section 6, Employee shall be responsible for payment (up to a maximum amount of $100,000 in the aggregate) of the attorneys’ and
experts’ fees and expenses of the Protected Parties, as well as court or other forum costs, pertaining to any suit, arbitration, mediation, action or other proceeding (including the costs of any investigation related thereto) arising directly
or indirectly out of the Employee’s violation or threatened violation of any of the provisions of this Section 6. Further, without limiting the Protected Parties’ remedies for any breach of any restriction on the Employee set forth in
this Section 6, Employee agrees that if he breaches any of restrictions set forth in Section 6.2 or 6.3 of this Agreement, the running of the time period of such provision(s) shall be extended from the end of the original Non-Solicitation
Period or Non-Compete Period, as applicable, for the period of time the Employee was in breach of the provision(s). 
 7.
Other Provisions. 
 7.1 Notices. Any notice or other communication required or which may be given hereunder
shall be in writing and shall be delivered personally, telegraphed, telexed, or sent by certified, registered or express mail, postage prepaid or overnight mail and shall be deemed given when so delivered personally, telegraphed, telexed, or, if
mailed, four (4) days after the date of mailing or one (1) day after overnight mail, as follows: 
 (a) If the
Company, to: 
 Tower Automotive Operations USA I, LLC 
 27175 Haggerty Road 
 Novi, Michigan 48377 
 Attention:      Chief Executive Officer 
 With copies to (which shall
not constitute notice): 
 Cerberus Capital Management, L.P. 
 299 Park Avenue 
 New York, New York 10171 
 Attention:      Mark A. Neporent, Senior Managing Director 
 Telephone:    (212) 891-2100 
  

 -13- 

 And 
 Lowenstein Sandler PC 
 1251 Avenue of the Americas 
 New York, New York 10020 

Attention:      Robert G. Minion, Esq. 
 (b) If the Employee, to the Employee’s home address reflected in the Company’s records. 
 7.2 Entire Agreement. This Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and
supersedes all prior agreements and understandings, written or oral, with respect thereto. 
 7.3 Representations and
Warranties by Employee; Reimbursement of Fees. The Employee represents and warrants to the Company that: (a) he has the legal authority to execute and perform this Agreement; (b) this Agreement is a valid and binding agreement
enforceable against him according to its terms; (c) he has consulted his attorneys and financial advisors with respect to the terms of this Agreement (specifically, including, without limitation, the provisions of Sections 6.2 and 6.3 of this
Agreement); and (d) he is not a party to or subject to any restrictive covenants, legal restrictions or other agreements in favor of any entity or person which would in any way preclude, inhibit, impair or limit the Employee’s ability to
perform his obligations under this Agreement, including but not limited to, non-competition agreements, non-solicitation agreements or confidentiality agreements. The Employee shall not disclose to the Company or to any of the other Protected
Parties, or induce the Company or any of the other Protected Parties to use, any proprietary, secret, or confidential information or material belonging to any other individual or entity, including, without limitation, any former employers. The
Company agrees to reimburse the Employee for the reasonable attorneys and financial advisor fees (up to an aggregate amount not to exceed $10,000) that the Employee actually incurs in connection with the preparation and negotiation of this
Agreement, which reimbursement will be made within thirty (30) days following the later of (i) the Commencement Date, and (ii) the Employee’s presentation to the Company of paid invoices substantiating such fees. The
Employee agrees to submit the invoices referred to in the preceding sentence within 30 days of the date that such invoices are paid by the Employee. 
 7.4 Waiver and Amendments. This Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms and conditions hereof may be waived, only by a written instrument signed
by the Parties or, in the case of a waiver, by the Party waiving compliance. No delay on the part of any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any right,
power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 
  

 -14- 

 7.5 Governing Law, Dispute Resolution and Venue. 
 (a) Any and all actions or controversies arising out of this Agreement or the termination thereof, including, without limitation, tort
claims, shall be governed and construed in accordance with the laws of the State of New York applicable to agreements made and not to be performed entirely within such state, without regard to conflict of laws principles. 
 (b) The Parties agree irrevocably to submit to the exclusive jurisdiction of the federal courts or, if no federal jurisdiction exists, the
state courts, located in the City of New York, Borough of Manhattan, for the purposes of any suit, action or other proceeding brought by any Party arising out of any breach of any of the provisions of this Agreement and hereby waive, and agree not
to assert by way of motion, as a defense or otherwise, in any such suit, action, or proceeding, any claim that it is not personally subject to the jurisdiction of the above-named courts, that the suit, action or proceeding is brought in an
inconvenient forum, that the venue of the suit, action or proceeding is improper, or that the provisions of this Agreement may not be enforced in or by such courts. IN ADDITION, THE PARTIES IRREVOCABLY WAIVE ANY RIGHT TO REQUEST A TRIAL BY JURY
IN ANY SUCH ACTIONS OR CONTROVERSIES AND REPRESENT THAT SUCH PARTY HAS CONSULTED WITH COUNSEL SPECIFICALLY WITH RESPECT TO THIS WAIVER. 
 7.6 Benefit of Agreement; Delegation of Duties Prohibited. This Agreement shall inure to the benefit of, and shall be binding upon, the Parties and their respective successors, assigns, heirs, and
legal representatives, including any entity with which the Company may merge or consolidate or to which all or substantially all of its assets may be transferred. This Agreement also shall inure to the benefit of the Protected Parties, as well as
their respective successors and assigns, including any entity with which any Protected Party may merge or consolidate or to which all or substantially all of its or their assets may be transferred. The duties and covenants of the Employee under this
Agreement, being personal, may not be delegated. 
 7.7 Counterparts. This Agreement may be executed in counterparts and
by facsimile, each of which shall be deemed an original but all of which shall constitute one and the same instrument. 
 7.8
Headings; Construction. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of terms contained herein. All references to “Section” or “Sections” refer to
the corresponding Section or Sections of this Agreement unless otherwise specified. All words used in this Agreement shall be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the work
“including” does not limit the preceding words or terms. Given the full and fair opportunity provided to each Party to consult with their respective counsel with respect to the terms of this Agreement, ambiguities shall not be construed
against either Party by virtue of such Party having drafted the subject provision. 
  

 -15- 

 7.9 Severability. If any term, provision, covenant or restriction of this Agreement,
or any part thereof, is held by a court of competent jurisdiction of any foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority to be invalid, void, unenforceable or against
public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected or impaired or invalidated. The Employee acknowledges that the
restrictive covenants contained in Section 6 are a condition of this Agreement and are reasonable and valid in temporal scope and in all other respects. 
 7.10 Judicial Modification. If any court of competent jurisdiction determines that any of the covenants in Section 6 of this Agreement, or any part of any of them, is invalid or unenforceable,
the remainder of such covenants and parts thereof shall not thereby be affected and shall be given full effect, without regard to the invalid portion. If any court of competent jurisdiction determines that any of such covenants, or any part thereof,
is invalid or unenforceable because of the geographic or temporal scope of such provision, such court shall reduce such scope to the minimum extent necessary to make such covenants valid and enforceable. 
 7.11 Compliance with Law. This Agreement is intended to comply with the requirements of Section 409A of the Code and the
regulations promulgated thereunder. To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments under Sections 4 and 5 of this
Agreement shall comply with Section 409A. Notwithstanding anything contained in the Agreement to the contrary, if necessary to comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to “specified
employees”, any payment on account of the Employee’s separation from service that would otherwise be due hereunder within six months after such separation shall nonetheless be delayed until the first business day of the seventh month
following the Employee’s separation from service. In addition, notwithstanding anything contained herein to the contrary, the Employee shall not be considered to have terminated employment with the Company for purposes of causing any amount due
under Section 5.2 to be made unless the Employee would be considered to have incurred a “termination of employment” from the Company within the meaning of Treasury Regulation §1.409A-1(h)(1)(ii). 
 7.12 Tax Withholding. The Company or other payor is authorized to withhold from any benefit provided or payment due hereunder, the
amount of withholding taxes due any federal, state or local authority in respect of such benefit or payment and to take such other action as may be necessary in the opinion of the Board to satisfy all obligations for the payment of such withholding
taxes. 
 7.13 Notice of New Employment or Engagement. The Employee shall, during the Non-Compete Period and Non-Solicit
Period, give written notice to the Company, within ten (10) calendar days after accepting any employment or other engagement to perform services, of the identity of the individual or entity by whom or which the Employee has been employed or
engaged. The Company may notify such individual or entity that the Employee is bound by this Agreement and, at the Company’s election, furnish such individual or entity with a copy or summary of this Agreement (in whole or in part). 

 

 -16- 

 7.14 Indemnification. The Company will indemnify and hold the Employee harmless, to
the extent permitted by the Company’s operating agreement, against all liability, expense or loss (including reasonable attorney’s fees and penalties) incurred by the Employee by reason of the fact that the Employee is an officer of the
Company acting within the scope of the Employee’s duties and authorities. 
 7.15 Survival. The provisions of
Sections 5, 6, and 7 of this Agreement shall survive the termination of this Agreement and the employment relationship hereunder. 
 [signatures follow on the next page] 
  

 -17- 

 IN WITNESS WHEREOF, the Parties hereto, intending to be legally bound hereby, have executed
this Agreement as of the day and year first above mentioned. 
  

			
	EMPLOYEE:
	
	 /s/ William R. Cook

	William R. Cook
	
	TOWER AUTOMOTIVE OPERATIONS USA I, LLC
		
	By:	 	 /s/ Mark M. Malcolm

		 	Mark M. Malcolm
		 	President and Chief Executive Officer

  

 -18-Employment Agreement with Gyula Meleghy

 Exhibit 10.29 
 EMPLOYMENT AGREEMENT 
 dated 15th February, 2000

 between 
 DR. MELEGHY GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG 
 and 
 DR. GYULA DE MELEGHY JR. 

 THIS AGREEMENT is made on 15th February, 2000 BETWEEN: 
  

	(1)	DR. MELEGHY GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG, of Bergisch Gladbach (the “Company”); 

  

	(2)	DR. GYULA DE MELEGHY JR. (the “Managing Director”). 

 WHEREAS: 
 It is contemplated to appoint Dr. de Meleghy Jr. as managing director of the
Company. 
 The purpose of this Employment agreement is to set out the rights and obligations between the Company and the Managing Director.

 IT IS AGREED as follows: 
  

	1.	TERM 

  

	 	(1)	Dr, de Meleghy is engaged in the activity as managing director (Geschäftsführer) of the Company. 

  

	 	(2)	This Employment agreement shall be effective from 1st February, 2000. 

  

	2.	LEGAL POSITION 

  

	 	(1)	As managing director, Dr. de Meleghy Jr. will direct the Company’s affairs and represent the Company according to its Articles of Association as amended from
time to time. 

  

	 	(2)	The Company may appoint further managing directors. All managing directors together form the management board (Gesamtgeschäftsführung). The
shareholders determine the allocation of duties among the managing directors from time to time. 

  

	 	(3)	The Managing Director shall conduct the business of the Company and carry out his duties within the limits of and in accordance with 

  

	 	•	 	 applicable provisions of law; 

  

	 	•	 	 the Articles of Association of the Company; 

  

	 	•	 	 shareholders’ resolutions of the Company; 

  

	 	•	 	 the Company rules and regulations for management (if any); and 

  

	 	•	 	 this Employment agreement. 

  

	3.	DUTIES 

  

	 	(1)	The Managing Director shall primarily be responsible for the sales, finances and controlling of the entire Meleghy Croup and/or such duties as may be specified by the
shareholders from time to time. 

	 	(2)	The Managing Director shall further be responsible for the management of the tool manufacturing division. In this function, he shall be responsible for the entire
organisation, personnel management, production, engineering and sales with regard to his division. 

 In both
functions the Managing Director shall respect the outline provisions (investment, personnel and finance plans) decided upon by the shareholders as well as the rules of procedure for management (Geschäftsordnung). 
  

	 	(3)	The Managing Director’ may appoint and dismiss the lower level management personnel in co-ordination with the other member(s) of the management board.

  

	 	(4)	The Managing Director may regularly inform the management board of any material decisions and measures taken by him insofar as his decisions are not already subject to
prior consent of the management board. 

  

	 	(5)	The Managing Director shall dedicate his full working capacity, professional know-ledge and experience exclusively to the Company and shall respect and use his best
endeavours to achieve the economic targets of the Company and its affiliates as defined by the management board. The Company is entitled to request of the Managing Director to serve in such other comparable capacity as the Company may from time to
time reasonably require. 

  

	 	(6)	The Managing Director shall in all his actions seek to protect in every possible manner the best interests of the Company and its affiliates in every respect.

  

	4.	BASE SALARY 

  

	 	(1)	The Managing Director shall receive as consideration for his services an annual gross base salary amounting to DM 300,000 (Deutsche Mark three hundred thousand) payable
in twelve equal installments at the end of each calendar month after the deductions, required by applicable law. 

  

	 	(2)	The salary pursuant to Clause 4 (1) shall include any overtime work, work on Saturdays and Sundays and public holidays and holiday allowance. The Managing Director
is obliged to work even beyond the usual business working hours if this is required by the commercial interests of the Company. 

  

	 	(3)	The salary shall be reviewed in reasonable intervals and adjusted, if appropriate, based on adequacy of performance. 

  

	5.	OTHER REMUNERATION AND BENEFITS 

  

	 	(1)	The Managing Director shall receive an incentive compensation not exceeding DM 300,000, as defined in annex A. 

  

	 	(2)	The Managing Director shall be eligible to participate in the employee stock option plan of Tower Automotive Inc in accordance with the stock option plan set forth in
annex B. 

  

	 	(3)	 The Company shall pay the Managing Director’s contributions to health insurance, statutory pension insurance, unemployment insurance and nursing
care insurance

  

 3 

	 	 
(Pflegeversicherung) to the extent required by law. Should the Managing Director be exempted from his obligation to join a statutory health insurance scheme, the Company shall reimburse
him for 50% of his contributions to his private health insurance, up to a maximum amount of 50% of the contribution payable to the statutory health insurance. 

  

	 	(4)	The Managing Director shall be covered by the group accident insurance of the Company which is strictly personal and amounts to DM. 1,000,000 in case of death and DM
2,000,000 in case of disability. 

  

	 	(5)	The Managing Director is entitled to receive the Company’s contribution to a tax-exempt savings plan (Vermögenswirksame Leistungen) in accordance with
applicable law provided that he has concluded a contract to that effect. 

  

	6.	EXPENSES/COMPANY CAR 

  

	 	(1)	The Company shall reimburse the Managing Director (on production of such evidence as it may reasonably require) for itemised travel and other expenses properly and
reasonably incurred by him on behalf of the Company pursuant to the expense reimbursement rules of the Company. 

  

	 	(2)	Throughout the duration of this Employment agreement the Managing Director will be entitled to a company car of his choice (purchase price/leasing rate of up to DM
2,000) which may also be used for private purposes. The cost for the operation of the car shall be borne by the Company except for those operation costs relating to the private use of the car exceeding a reasonable extent. 

 

	 	(3)	The car shall be fuelled free of charge at a petrol station determined by the company. 

  

	 	(4)	The monetary advantage of the private use of the car is taxable income under prevailing German law; the Company shall deduct the relevant income tax from the
installments payable pursuant to Clause 4 (1). 

  

	 	(5)	The Managing Director shall take good care of the car and shall observe the terms and conditions of the insurance policy relating to it. The Managing Director shall
inform the Company immediately if he is disqualified from holding a driving licence. 

  

	 	(6)	The company car shall be returned the Company upon the termination of this Employment agreement or upon the release of the Managing Director from his duties pursuant to
Clause 12 (5) of this Employment agreement. In such case, the right to the private use of the company car ceases immediately without compensation- There is no right of retention. 

  

	7.	CONTINUED PAYMENT OF SALARY IN CASE OF ILLNESS AND DEATH 

  

	 	(1)	If the Managing Director is temporarily unable to work due to illness or any other reason for which he is not responsible, the Company shall, subject to a deduction in
the amount received by the Managing Director under his medical insurance after six weeks of illness, continue to pay the salary set out in Clause 4 for the duration of such inability up to three calendar months or until the termination of this
Employment agreement, whichever event is earlier. 

  

 4 

	 	(2)	Should the Managing Director decease during the term of this Employment agreement, his surviving dependants (widow and children below 25 years of age who have not
finished their professional education) shall as joint creditors receive the full salary set out in Clause 4 for the month in which the death occurs and the three following months. 

  

	 	(3)	The Managing Director and/or his surviving dependants shall disclose any payments received from insurance companies and/or social security carriers in respect of the
events referred to in this Clause 7. 

  

	8.	VACATION 

  

	 	(1)	The Managing Director is entitled to an annual vacation of 30 (thirty) working days. Working days are all calendar days except Saturdays, Sundays and public holidays at
the location of the Company’s office where the Managing Director is employed. 

  

	 	(2)	The Managing Director shall reasonably in advance agree the timing of his vacation with the other members of the managing board or, if there are none, with the
shareholder. 

  

	9.	CONFIDENTIALITY 

  

	 	(1)	The Managing Director is strictly obliged to abstain from disclosing any matters of the Company, its shareholder and its affiliated companies which are not a matter of
public record or knowledge. He shall not use any such confidential information, directly or indirectly, for his own benefit or the benefit of third parties. The foregoing obligations shall survive the termination of this Employment agreement.

  

	 	(2)	Upon termination of this Employment agreement or upon release from his functions, the Managing Director shall return to the Company all documents, notes, drafts and
data in his possession regarding the business of the Company, its shareholder and its affiliated companies as well as any other property of the Company, its shareholder and affiliated companies. The Managing Director waives any rights of retention
which he may have in respect of such items. 

  

	10.	OUTSIDE ACTIVITIES 

  

	 	(1)	The Managing Director shall not, without the prior written consent of the Company, conduct any other trade or business activities, participate in a similar or related
enterprise, or assume supervisory board or similar functions for any other company. 

  

	 	(2)	Scientific and literary activity of the Managing Director is subject to the prior written consent of the Company if it is related to interests of the Company or to the
activity as Managing Director of the Company. 

  

	11.	RIGHT OF USE AND INVENTIONS 

 Inventions and organisational methods resulting from the Managing Director’s activities shall be subject to the provisions of the Employee Inventions Act (Gesetz über Arbeitnehmererfindungen). 
  

 5 

	12.	TERMINATION 

  

	 	(1)	This Employment agreement shall run for fixed term until December 31st, 2002 and shall be extended automatically for consecutive 12 months periods unless it is
terminated by either party by giving 6 months prior notice, i.e. for the first time of June 30th, 2002, at the latest. 

  

	 	(2)	This Employment agreement shall terminate in any event at the end of the month during which the Managing Director turns 65 unless it terminates earlier pursuant to an
application for early retirement. If the respective statutory provisions change this shall apply mutatis mutandis for the Employment agreement. 

  

	 	(3)	Notice of termination by the Managing Director shall be given in writing to the shareholders of the Company. Notice of termination by the Company shall be given in
writing to the Managing Director by the shareholders or, if the termination is based on cause, by any other managing director of the Company. 

  

	 	(4)	The Managing Director’s appointment can be revoked by shareholder resolution at any time. Such revocation automatically contains notice of termination of this
Employment agreement to the next available termination date. Upon giving notice of termination the Company is entitled to put the Managing Board on garden leave pending the expiration of the remaining term of this Employment agreement.

  

	 	(5)	The right to terminate this Employment agreement for cause shall remain unaffected, For the sake of clarification; the statutory two-week period of limitation shall
apply. 

  

	13.	OBLIGATIONS OF THE MANAGING DIRECTOR FOLLOWING TERMINATION 

 The Managing Director shall not, without the prior written consent of the Company, for a period of one year following the termination of this Employment agreement either on his own account, or for or
jointly with any other person or company, solicit or interfere with or endeavour to entice away from the Company any employee or client front the Company’s established client base having existed during the three-year-period preceding
termination. 
  

	14.	MISCELLANEOUS 

  

	 	(1)	This Employment agreement contains the entire agreement between the parties relating to Dr. de Meleghy Jr.’s function and remuneration as managing director.
Amendments of and to this Agreement, including this clause, are valid only if made in writing. 

  

	 	(2)	The Managing Director shall not directly or indirectly accept any commission, rebate, discount or gratuity, in cash or in kind, from any person who has or is likely to
have a business relationship with the Company or any of its affiliates. 

  

	 	(3)	Should any provision of this Agreement be or become partly or entirety invalid, the validity of the other provisions shall remain unaffected. In such case the parties
shall be obliged to substitute the invalid provision by a valid provision which come as close as possible to the economic effect which was intended by the invalid provision. The same applies should there be gaps in this Agreement.

  

 6 

	 	(4)	Any notice or other document to be served under this Agreement shall, in the case of the Company, be delivered or sent by mail or facsimile process to the Company at
its registered office for the time being and, in the case of Dr, de Meleghy Jr., shall be delivered to him or sent by mail or facsimile process to his usual or last known place of residence. 

  

	 	(5)	This Contract is subject to the laws of the Federal Republic of Germany. 

  

	 	(6)	Place of performance is Bergisch Gladbach (Germany). 

  

					
	 Bergisch Gladbach
	 		 	 15.2.00

	Place	 		 	Date
			
	/s/ DR. MELEGHY GESELLSCHAFT MIT	 		 	
	 BESCHRÄNKTER HAFTUNG
	 		 	 /s/ Gyula de. Meleghy Jr.

	Company	 		 	Dr. Gyula de Meleghy Jr.

  

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 ANNEX A 
  

	1.	The incentive compensation referred to in clause 5 of the Employment Agreement shall be calculated as follows: 

 Dr. de Meleghy Jr. shall receive an annual bonus equal to 3% of the bonus-related profits (assessment basis). The assessment basis for
the bonus shall be the annual net income shown in the consolidated financial statements of Dr. Meleghy GmbH & Co. KG Werkzeugbau and Presswerk, which shall be determined according to provisions under trade law, and shall be adjusted by
certain allocations and deductions. 
 The assessment basis for the bonus is calculated as follows: 
 Annual net income according to the audited consolidated financial statements 
 +/- profits/losses in connection with real property sales 
 +/- profits/losses in connection with sales of interest 
 +/- profits/losses
relating to shares in silent and atypical silent partnerships, to the extent that they decreased/increased the consolidated result 
 +/- corporation tax included as expenses/revenues in the annual net income 
 +-/- material extraordinary
expenses/revenues* 
 +/-- trade tax changes due to corrections of the results 
 - loss carry-forward after the correction according to the above calculation and to the extent that it was created after the creation of
the bonus entitlement  
 = bonus-related profit 
  

	*	These allocations and deductions need only be made in case the calculation of the bonus yields unreasonable results, as may be the case in the event of extraordinary
depreciation or value adjustments due to preferential tax treatment provisions. In such events, the depreciation/value adjustments must be distributed over an appropriate period of time (life of the relevant goods). 

 The bonus shall officially be determined by the company’s auditors and shall be limited to a maximum of DM 300,000 p.a. It shall become due upon the
adoption of the consolidated financial statements of Dr. Meleghy GmbH & Co. KG Werkzeugbau and Presswerk. 
  

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