Document:

Exhibit 10.23

 

	
  

  	
  

  	
   

  	
   

  
	
   

  	
  333
  Corporate Woods Parkway

  	
   

  	
   

  
	
   

  	
  Vernon
  Hills, Illinois 60061.3109 U.S.A.

  	
   

  	
   

  
	
   

  	
  Telephone
  +1.847.634.6700

  	
   

  	
   

  
	
   

  	
  Facsimile
  +1.847.913.8766

  	
   

  	
   

  
	
   

  	
  www.zebracorporation.com

  	
   

  	
   

  

 

Edward L. Kaplan

Chairman and CEO

 

 

February 4, 2002

 

Mr. John Paxton

14338 Laurel Trail

Wellington, FL  33414

 

 

Dear John:

 

This letter confirms our verbal understanding of my offer to you to
join Zebra Technologies Corporation as President, Barcode Business Unit
reporting directly to me. With acceptance of this position, you will be part of
Zebra’s top management team. I am excited about your ability to contribute to
our company’s future growth and look forward to having you as a member of our
team. I would like your effective start date to be Wednesday, February 20, 2002.

 

Base and Pay Bonus: Your base salary will be
$500,000 on an annual basis. This will be payable on a bi-weekly basis, in the
amount of $19,230.76.   There is also a
significant Management Bonus Plan opportunity that has a target equal to 60% of
base earnings, which when annualized is $300,000. Thus, the annualized base
plus target bonus is $800,000.  Upon
your arrival, we will meet to establish objectives and the criteria which will
be used for your participation in the Management Bonus Plan.

 

Stock Options:  Also, you will be granted a Stock Option for 100,000 shares of
Zebra Class A Common Stock on your first day of employment. The grant price of
these shares will be based upon the closing price of Zebra’s stock as listed on
the Nasdaq at the conclusion of your first day of employment. Zebra
Technologies Corporation Stock Options vest over 5 years at the rate of 15% on
the first anniversary of the grant, 17.5% on the second anniversary, 20% on the
third anniversary, 22.5% on the fourth anniversary and the remaining 25% on the
fifth anniversary. Zebra options have a ten-year life from the date of
grant.  This means that the value of
your option can appreciate for ten years from the Grant Date before you are
required to exercise.  You may sell up
to 100% of the shares you acquire upon exercise of each of your options with no
holding period.

 

Future options are granted at the discretion of the Board of Directors
and the CEO.

 

Other Benefits:  Zebra offers family coverage in the Zebra healthcare plan
(medical/dental), life insurance coverage of $150,000 and other Zebra employee
benefit plans in accordance with the plan documents or company policy.  You will be eligible to participate in the
company’s Profit Sharing and Savings Plan and the Employee Stock  Purchase
Plan (attached) in accordance with the plan documents.  The Company retains its existing right to
amend or terminate at any time any employee benefit plan.

 

Relocation: 
Relocation costs will be reimbursed per our standard relocation policy.
Please review the attached policy and assess your needs so that we can work out
the details.

 

Vacation:  
With respect to vacation, in addition to the standard vacation plan, you
will receive additional paid vacation days so that in total, you will not have
less than three weeks vacation per year.

 

 

Termination: 
If you are terminated for other than cause, you will receive severance
pay as follows:

•      12
months of base compensation

•      12
months of outplacement services

•      Payout
will cease when you start employment at your next job.

 

Resignation: 
You will be required to provide six (6) weeks written notice if you
resign from Zebra.

 

Zebra Technologies Corporation expects each of its employees who have
access to confidential business information to keep such information
confidential. It is customary for all associates to sign an Employment
Agreement, which contains a non-compete clause. We are including our standard
Employment Agreement for you to review. In light of your vast industry
background and experience, I would like to discuss with you what is appropriate
in your situation. It is also our policy to avoid the use of confidential
information, which you may have concerning your previous employer.

 

This offer is subject to your review and is contingent upon successful
completion of the referencing process. 
Your employment is also subject to passing a drug screening which will
be scheduled for you.

 

Your employment is for no specific period of time, and both you and the
Company may terminate the employment relationship per the above agreement.  However, it is my understanding that if you
accept this offer, you are making a 5 year commitment to Zebra that is not
legally binding.

 

The letter contains the entire agreement concerning our offer of
employment and may not be modified or changed unless in writing and signed by
me.

 

To acknowledge acceptance of this offer, please sign and return to me
one copy of this letter.

 

	
  Best regards,

  	
   

  	
  ACCEPTED:

  
	
   

  	
   

  	
   

  
	
  /s/ Edward L. Kaplan

  	
   

  	
  /s/ John Paxton

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Edward L. Kaplan

  	
   

  	
  John Paxton

  	
   

  
	
  Chairman and CEO

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  February 17, 2002

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  DateExhibit  10.17

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Employment Agreement (“Agreement”) is entered into as of January 1, 2004 by and
between Donald T. Johnson Jr., a natural person (“Executive”), and Aftermarket
Technology Corp., a Delaware corporation (“ATC”).  As used herein, the “Company” refers to ATC and/or any subsidiary
of ATC.  The parties hereto agree as
follows:

 

1.             Employment and
Term.

 

(a)           Full Time and Best
Efforts.  Subject to the terms set
forth herein, the Company agrees to employ Executive in a management capacity
and Executive hereby accepts such employment. 
During the term of his employment, Executive will devote his full time,
best efforts and attention to the performance of his duties hereunder and to
the business and affairs of the Company and its subsidiaries.

 

(b)           Duties.  Executive shall perform such duties for the
Company and its subsidiaries as are customarily associated with a management
position, consistent with the Bylaws of the Company and as required by the
officer or officers to whom Executive reports.

 

(c)           Company Policies.  The employment relationship between the
parties shall be governed by the general employment policies and practices of
the Company, except that when the terms of this Agreement differ from or are in
conflict with such employment policies and practices, this Agreement shall
control.

 

(d)           Term.  The initial term of employment of Executive
under this Agreement shall begin as of the date hereof and end on the third
anniversary the date hereof, subject to the provisions for termination
contained in Section 5 and renewal contained in Section 1(e).

 

(e)           Renewal.  Unless the Company shall have given
Executive notice that this Agreement shall not be renewed at least 30 days
prior to the end of the initial term referred to in Section 1(d), the term
of this Agreement shall be automatically extended for a period of one year,
such procedure to be followed in each such successive period.

 

2.             Compensation and
Benefits.

 

(a)           Salary.  Executive shall receive for services to be
rendered hereunder an annual base salary of $500,000, payable on the Company’s
regular payroll dates, subject to increase at the discretion of the Company,
and subject to standard withholdings for taxes and social security and the
like.  The Company shall review
Executive’s salary on a periodic basis and may, in its sole discretion,
increase Executive’s salary.

 

 

(b)           Incentive Plans.  During the term hereof, Executive shall be
eligible to participate in any annual incentive bonus plan and long-term incentive
plan (including, without limitation, any stock option plan) of the Company
generally available to Company employees of a level comparable to
Executive.  Such participation shall be
subject to and on a basis consistent with the terms, conditions and administration
of any such plan.  Executive understands
that (i) the Company shall have discretion to determine Executive’s level
of participation in any such plan and (ii) any such plan may be modified
or eliminated in the Company’s sole discretion in accordance with applicable
law and the terms of such plan

 

(c)           Participation in
Benefit Plans.  During the term
hereof, Executive shall be entitled to participate in any group insurance,
hospitalization, medical, dental, health and accident, disability, retirement
income or similar plan or program of the Company to the extent that he is
eligible under the general provisions thereof. 
The Company may, in its discretion and from time to time, establish
additional management benefit programs as it deems appropriate.  Executive understands that any such plans
may be modified or eliminated in the Company’s discretion in accordance with
applicable law.

 

(d)           Vacation.  Executive shall be entitled to a period of
annual paid vacation time equal to the period provided to employees of a
comparable level by the Company’s policies and procedures.  The days selected for Executive’s vacation
must be mutually agreeable to the Company and Executive.

 

3.             Perquisites.

 

(a)           Financial Planning/Club Dues Allowance.  During
each calendar year during the term hereof, Executive will receive reimbursement
for expenses incurred during such year for (i) personal financial/tax
planning, (ii) estate planning (including legal fees) and (iii) club
(e.g.,
country club, health club, social club) dues; provided, however, that the
reimbursable amount for any such year shall not exceed 2% of Executive’s base
salary paid during such year.

 

(b)           Automobile.  Executive shall be
entitled to an annual automobile allowance of $20,000, subject to applicable withholding.

 

4.             Business Expenses.  Executive shall be reimbursed for documented
and reasonable business expenses in connection with the performance of his
duties hereunder.

 

5.             Termination of Employment.  The date on which Executive’s employment by
the Company ceases, under any of the following circumstances, shall be defined
herein as the “Termination Date.”  All
capitalized terms used in this Section 5 without definition will have the
meanings set forth in Section 5(h).

 

(a)           Termination
for Cause.  The Company may
terminate Executive’s employment at any time for Cause immediately upon written
notice to Executive of the circumstances leading to such termination for
Cause.  If Executive’s employment is
terminated for Cause, Executive shall receive payment for all accrued salary
through the Termination Date (which in this event shall be the date upon which
notice of termination is given) and the Earned

 

2

 

Benefits.  The Company shall have no obligation to pay
severance of any kind nor to make any payment in lieu of notice if Executive is
terminated for Cause.

 

(b)           Voluntary
Termination.  Executive may
voluntarily terminate his employment with the Company at any time upon 90 days’
prior written notice.  Within ten days
after the Termination Date, Executive shall receive payment for all accrued
salary through the Termination Date and the Earned Benefits, after which no
further compensation of any kind or severance payment will be payable under
this Agreement, unless the Board of Directors has determined that Executive has
provided an orderly transition.  If such
orderly transition occurs, a voluntary termination in such circumstances shall
be treated as a Company termination without Cause and Executive shall be
entitled to the payments and benefits provided in Section 5(d)(ii)(A).

 

(c)           Termination Upon
Disability.  The Company may
terminate Executive’s employment in the event Executive suffers a disability
that renders Executive unable to perform the essential functions of his
position, even with reasonable accommodation in compliance with the Americans
with Disabilities Act, for three consecutive months.  A termination in such circumstances shall be treated as a Company
termination without Cause and Executive shall be entitled to the payments and
benefits provided in Section 5(d)(ii)(A). 
The foregoing shall not affect any rights that Executive may have under
applicable workers’ compensation laws or any disability plan of the Company.

 

(d)           Termination Without
Cause.  The Company may terminate
Executive’s employment without Cause at any time upon 30 days’ prior written
notice.  Executive will be deemed to
have been terminated without Cause if the Company elects not to renew this
Agreement pursuant to Section 1(e).  Within ten days after the Termination Date, Executive shall
receive payment for all accrued salary through the Termination Date and the
Earned Benefits.  In addition

 

(i)            During the Severance
Period the Company will offer continued medical-related insurance coverage to
Executive at the levels and at the rates applicable from time to time to
comparable active employees of the Company. 
Medical-related insurance coverage includes health, dental, vision
and/or cancer.  COBRA continuation
coverage eligibility shall commence as of the day following the end of the
Severance Period.  Notwithstanding the
above, coverage under the Company’s group medical plan shall cease on the date
(A) Executive fails to pay the required premium on time,
(B) Executive becomes eligible for coverage under Medicare or the group
health plan of any other employer, or (C) the Company terminates its group
medical plan as to all its employees.

 

(ii)           The Company shall pay
Executive as severance the following:

 

(A)          If the Termination Date
occurs other than within 18 months after a Change in Control, an amount equal
to (x) Executive’s annual base salary as in effect immediately prior to
the Termination Date multiplied by the Severance Factor plus (y) the
Prorated Bonus.  The severance called for
by clause (x) shall be paid in equal installments on each of the Company’s
regular payroll dates during the Severance Period

 

3

 

and the Prorated
Bonus will be paid if and when the Company generally pays bonuses under the IC
Plan to its other employees with respect to the Termination Year.

 

(B)           If the Termination Date
occurs within 18 months after a Change in Control, an amount equal to
(x) Executive’s annual base salary as in effect immediately prior to the
Termination Date multiplied by the Severance Factor plus (y) 100% of
Executive’s target bonus under the IC Plan for the Termination Year, plus
(z) the Pro Forma Bonus.  The
severance shall be paid in a single lump sum within ten days after the
Termination Date.

 

(iii)          The Company will pay up
to $25,000  of the cost of an
executive level individualized career transition program through a professional
outplacement firm mutually selected by the Company and the Executive if such
program is initiated within 30 days after the Termination Date.

 

If Executive dies
after the Termination Date, the payment or payments due thereafter under
Section 5(d)(ii)(A) or (B) shall be made to Executive’s estate but the
benefits provided in Sections 5(d)(i) and (iii) shall terminate as of the
date of death.  As a condition to
receiving the payments and benefits provided by this Section 5(d) (other
than payment for all accrued salary through the Termination Date and the Earned
Benefits, which shall be payable in any case), Executive shall execute and
deliver to the Company on the Termination Date a general release in the form
attached hereto as Exhibit A.

 

(e)           Fundamental Changes.  If the Company (i) materially
diminishes Executive’s duties, authority, responsibility or compensation
without performance justification, or (ii) breaches this Agreement in any
material respect, Executive may terminate his employment, provided that Executive has
given the Company 30 days’ written notice prior to such termination and the
Company has not cured such diminution or breach, as the case may be, by the end
of such 30-day period.  A termination in
such circumstances shall be treated as a Change in Control termination and
Executive shall be entitled to the payments and benefits provided in
Section 5(d)(ii)(B).

 

(f)            No Other Payments
or Benefits.  Except as otherwise
expressly provided in this Agreement, (i) after the Termination Date
Executive will not be entitled to any payments from the Company and
(ii) on the Termination Date Executive’s participation in and coverage
under the Company’s benefit programs (including the ATC Retirement Savings Plan
(i.e.,
the 401(k) plan) and the Company’s group life and disability insurance plans)
shall cease; provided that
Executive shall retain any right to convert to individual coverage as permitted
under these insurance plans and to any vested benefits under the 401(k) plan
and the Company’s stock option plans.

 

(g)           Withholding.  Any amounts payable under this Section 5
shall be subject to standard withholdings for taxes and social security and the
like.

 

4

 

(h)           Definitions.

 

(i)            “Cause” means the occurrence
or existence of any of the following with respect to Executive, as determined
by the Company in its sole discretion:

 

(A)          a material breach by
Executive of (x) his duty not to engage in any transaction that
represents, directly or indirectly, self-dealing with the Company or any of its
affiliates that has not been approved by the Company, or (y) the terms of
this Agreement, if in any such case such material breach remains uncured after
the lapse of 30 days following the date that the Company has given Executive
written notice thereof;

 

(B)           the material breach by
Executive of any duty referred to in clause (A) above as to which at least one
written notice has been given pursuant to clause (A);

 

(C)           any act of dishonesty,
misappropriation, embezzlement, intentional fraud or similar conduct involving
the Company or any of its affiliates;

 

(D)          the conviction or the
plea of nolo contendere or the equivalent in respect of a felony involving
moral turpitude;

 

(E)           any intentional damage
of a material nature to any property of the Company or any of its affiliates;
or

 

(F)           the repeated
non-prescription use of any controlled substance or the repeated use of alcohol
or any other non-controlled substance that, in the reasonable determination of
the Company renders Executive unfit to serve in his capacity as an employee of
the Company or its affiliates.

 

(ii)           “Change in Control” means the first to
occur of the following:

 

(A)          any sale or
transfer or other conveyance, whether direct or indirect, of all or
substantially all of the assets of the Company, on a consolidated basis, in one
transaction or a series of related transactions, unless, immediately after
giving effect to such transaction, at least 85% of the total voting power
normally entitled to vote in the election of directors, managers or trustees,
as applicable, of the transferee is “beneficially owned” by persons who, immediately
prior to the transaction, beneficially owned 100% of the total voting power
normally entitled to vote in the election of directors of the Company;

 

(B)           any Person
or Group other than an Excluded Person is or becomes the “beneficial owner,”
directly or indirectly, of more than 35% of the total voting power in the
aggregate of all classes of capital stock of the Company then outstanding
normally entitled to vote in elections of directors, unless the percentage so
owned by an Excluded Person is greater;

 

(C)           during any
period of 12 consecutive months, individuals who at the beginning of such
12-month period constituted the Company’s Board of

 

5

 

Directors
(together with any new directors whose election by such Board or whose
nomination for election by the shareholders of the Company was approved by a
vote of a majority of the directors then still in office who were either
directors at the beginning of such period or whose election or nomination for
election was previously so approved) cease for any reason to constitute a
majority of the Company’s Board of Directors then in office; or

 

(D)          a
reorganization, merger or consolidation of the Company the consummation of
which results in the outstanding securities of any class of the Company’s
capital stock being exchanged for or converted into cash, property and/or a
different kind of securities, unless, immediately after giving effect to such
transaction, at least 85% of the total voting power normally entitled to vote
in the election of directors, managers or trustees, as applicable, of the
entity surviving or resulting from such reorganization, merger or consolidation
is “beneficially owned” by persons who, immediately prior to the transaction,
beneficially owned 100% of the total voting power normally entitled to vote in
the election of directors of the Company.

 

(iii)          “Earned Benefits” means any (x) bonus
that is payable to Executive under the IC Plan with respect to the calendar
year preceding the Termination Year but that has not been paid prior to the
Termination Date, (y) vacation time that has accrued as of the Termination
Date, and (z) other entitlements to cash payments that have accrued as of
the Termination Date.

 

(iv)          “Excluded Person” has the
meaning set forth in that certain Indenture dated as of August 2, 1994 by and
among the Company, the Guarantors named therein and American Bank National
Association.

 

(v)           “IC Plan” means the Company’s annual
incentive compensation plan or similar plan instituted in place of the
incentive compensation plan.

 

(vi)          “Person”  and
“Group”
have the meanings used for purposes of Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended, whether or not such sections apply
to the transaction in question.

 

(vii)         “Pro Forma Bonus” means (A) the
greater of (x) Executive’s bonus under the IC Plan for the Termination
Year based on the Company’s projected performance for the Termination Year,
such projection to be determined by annualizing the performance for those months
of the Termination Year that are completed prior to the Termination Date, or
(y) Executive’s target bonus under the IC Plan for the Termination Year
multiplied by (B) a fraction (x) the numerator of which is the number
of days that have elapsed in the Termination Year through the Termination Date
and (y) the denominator of which is 365.

 

(viii)        “Prorated Bonus” means the bonus, if any, that would have
been payable to Executive under the IC Plan with respect to the Termination
Year multiplied by a fraction (A) the numerator of which is the number of
days that have elapsed in the Termination Year through the Termination Date and
(B) the denominator of which is 365.

 

6

 

(ix)           Severance Factor” means (A) 2.0 if
this Agreement is terminated during the first 18 months after the date hereof,
or (B) 1.5 if this Agreement is terminated following the first 18 months
after the date hereof.

 

(x)            “Severance Period” means (A) the
24-month period following the Termination Date if this Agreement is terminated
during the first 18 months after the date hereof, or (B) the 18-month
period after the Termination Date if this Agreement is terminated following the
first 18 months after the date hereof.

 

(xi)           “Termination Year” means the calendar year
in which the Termination Date occurs.

 

6.             Proprietary Information Obligations.  Prior to and/or during the term of
employment under this Agreement, Executive has had and/or will have access to
and has become and/or will become acquainted with the confidential and
proprietary information of the Business (as defined in Section 8) and the
Company and its affiliates, including but not limited to confidential and
proprietary information or plans regarding customer relationships; personnel; sales,
marketing, and financial operations and methods; trade secrets; formulas;
devices; secret inventions; processes and other compilations of information,
records, and specifications (collectively “Proprietary Information”).  Executive shall not disclose any of the
Proprietary Information directly or indirectly, or use it in any way, either
during the term of this Agreement, or at any time thereafter, except as
required in the course of his employment hereunder or as authorized in writing
by the Company.  All files, records,
documents, computer-recorded information, drawings, specifications, equipment
and similar items relating to the Business or the Company or its affiliates,
whether prepared by Executive or otherwise coming into his possession prior to
or during the term of this Agreement, shall remain the exclusive property of
the Company or such affiliate and shall not be removed from the premises of the
Company or its affiliate under any circumstances whatsoever without the prior
written consent of the Company, except when (and only for the period) necessary
to carry out Executive’s duties hereunder, and if removed shall be immediately
returned upon any termination of his employment and no copies thereof shall be
kept by Executive.

 

7.             Noninterference. While employed by the Company and for a
period of three years thereafter, Executive shall not, without the prior
written consent of the Company, interfere with the Company or any of its
affiliates by directly or indirectly soliciting, attempting to solicit,
inducing, or otherwise causing or assisting any person who is then employed by
the Company or any of its affiliates to terminate such employment in order to
become an employee, consultant or independent contractor to or for any employer
other than the Company or such affiliate.

 

8.             Noncompetition.  Executive agrees that during the term of
this Agreement and during (a) the 18 months after the Termination Date in
the case of a termination of this Agreement for Cause or (b) the Severance
Period in the case of any other termination of this Agreement, he will not,
without the prior consent of the Company, directly or indirectly, have an
interest in, be employed by, be connected with, or have an interest in (as an
employee (whether full-time, part-time or temporary), consultant, officer,
director, partner, stockholder, joint venturer, promoter or lender), any person
or entity owning, managing, controlling, operating or otherwise participating
or assisting in any business that is either (i) similar to the Business
(or

 

7

 

any
portion thereof) and would benefit from the disclosure of the Company’s trade
secrets or (ii) in competition with the Business (or any portion thereof)
in any of the 50 states in the United States of America; provided, however, that the
foregoing shall not prevent Executive from being a stockholder of less than 1%
of the issued and outstanding securities of any class of a corporation listed
on a national securities exchange or designated as national market system
securities on an interdealer quotation system by the National Association of
Securities Dealers, Inc.  Without
limiting the generality of the foregoing, a business will be deemed to be in
competition with the Business at a given point in time if any of the customers
of such business were customers of the Business at any time during the
18 months preceding the time in question. 
As used herein, “Business” means any and all of the businesses in which
the Company is engaged as of the Termination Date.

 

9.             Remedies.  Executive acknowledges that a breach or threatened breach by
Executive of any the provisions of Sections 6, 7 or 8 will result in the
Business and the Company and its affiliates suffering irreparable harm that
cannot be calculated or fully or adequately compensated by recovery of damages
alone.  Accordingly, Executive agrees
that the Company shall be entitled to interim, interlocutory and permanent
injunctive relief, specific performance and other equitable remedies, in
addition to any other relief to which the Company may become entitled should
there be such a breach or threatened breach.

 

10.          Miscellaneous.

 

(a)           Notices.  Any notices provided hereunder must be in
writing and shall be deemed effective upon the earlier of (i) personal
delivery (including personal delivery by telecopy, if a copy is sent by mail or
overnight delivery), (ii) the business day following being sent through an
overnight delivery service, or (iii) the third business day after mailing
by first class mail to the recipient at the address indicated below:

 

	
  To
  the Company:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Aftermarket Technology
  Corp.

  
	
  One Oak Hill Center,
  Suite 400

  
	
  Westmont, IL 60559

  
	
  Attention:

  	
   

  	
  General Counsel

  
	
  Facsimile:

  	
   

  	
  (630) 455-2621

  
	
   

  	
   

  	
   

  
	
  To Executive:

  	
   

  	
   

  
	
  Donald T. Johnson Jr.

  
	
  12201 Howland Park
  Drive

  
	
  Plymouth, Michigan
  48170

  

 

8

 

	
  With a copy to

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Jeffrey B. Rock

  	
   

  	
   

  
	
  Hasselberg, Rock, Bell
  & Kuppler LLP

  
	
  4600 Brandywine Drive,
  Suite 200

  
	
  Peoria, IL 61614-5591

  
	
  Facsimile:

  	
   

  	
  (309) 688-9430

  
					

 

or to such other
address or to the attention of such other person as the recipient party will
have specified by prior written notice to the sending party.

 

(b)           Severability. 
The provisions of this Agreement are severable and, if any court of competent
jurisdiction determines that any provision contained in this Agreement shall,
for any reason, be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision
of this Agreement, and this Agreement shall be reformed and construed so that
such invalid or illegal or unenforceable provision would be valid, legal and
enforceable to the maximum extent possible.

 

(c)           Entire Agreement.  This Agreement supersedes all prior and
contemporaneous oral understandings and agreements with respect to the subject
matter hereof.

 

(d)           Counterparts.  This Agreement may be executed on separate
counterparts, any one of which need not contain signatures of more than one
party, but all of which taken together will constitute one and the same
agreement.

 

(e)           Successors and
Assigns.  This Agreement is intended
to bind and inure to the benefit of and be enforceable by Executive and the
Company, and their respective successors and assigns, except that Executive may
not delegate any of his duties hereunder and he may not assign any of his
rights hereunder without the prior written consent of the Company.

 

(f)            Attorney’s Fees.  If any legal proceeding is necessary to
enforce or interpret the terms of this Agreement, or to recover damages for
breach therefore, the prevailing party shall be entitled to reasonable
attorney’s fees, as well as costs and disbursements, in addition to any other
relief to which he or it may be entitled.

 

(g)           Amendments; No
Waivers.  Any provision of this
Agreement may be amended or waived if such amendment or waiver is in writing
and signed, in the case of an amendment, by all parties hereto, and in the case
of a waiver, by the party against whom the waiver is to be effective.  No waiver by a party of any breach of this
Agreement shall be deemed to extend to any prior or subsequent breach or affect
in any way any rights arising by virtue of any prior or subsequent breach.  No failure or delay by a party in exercising
any right, power or privilege hereunder shall operate as a waiver thereof nor
shall any single or partial exercise thereof preclude any other or further
exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by
law.

 

9

 

(h)           Governing Law and Venue.  This
Agreement shall be governed by and construed and enforced in accordance with
the internal laws (without reference to choice or conflict of laws) of the State of Illinois.  The parties to this Agreement hereby
irrevocably consent to the exclusive venue and jurisdiction of the state and
federal courts sitting in the State of Illinois for any matter or controversy
concerning either the existence or enforcement of this Agreement and hereby
waive any contention that Illinois is an improper or inconvenient forum.

 

(i)            Construction.  The captions herein are included for
convenience of reference only and shall be ignored in the construction or
interpretation hereof.  Neither party
hereto, nor its respective counsel, shall be deemed the drafter of this
Agreement, and all provisions of this Agreement shall be construed in accordance
with their fair meaning, and not strictly for or against either party hereto.

 

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

 

	
   

  	
  /s/ Donald T. Johnson Jr.

  	
   

  	 

	
   

  	
  Donald T. Johnson Jr.

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  AFTERMARKET TECHNOLOGY CORP.

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/  Joseph Salamunovich

  	
   

  	 

	
   

  	
  Name:

  	
  Joseph Salamunovich

  
	
   

  	
  Title:

  	
  Vice President

  	 

							

 

10

 

GENERAL RELEASE

 

THIS GENERAL
RELEASE is entered into by the undersigned (“Employee”) as of the date
appearing next to Employee’s signature hereto.

 

WHEREAS, Employee’s employment with Aftermarket
Technology Corp. and/or one of its subsidiaries (Aftermarket and its
subsidiaries being referred to collectively as the “Company”) is being
terminated and the Company will provide Employee with certain benefits upon the
termination of employment provided that, among other things, Employee executes
and delivers this General Release;

 

NOW, THEREFORE, Employee agrees as follows:

 

1.             General Release.  Employee hereby

 

(a)           releases and discharges the Company and its officers,
directors, employees, benefit plan administrators and trustees, and agents
(collectively, the “Released Parties”) from any and all claims, liabilities,
demands and causes of action, whether known or unknown, fixed or contingent,
that Employee may have or claim to have against any of the Released Parties
relating to, or arising out of, Employee’s employment with the Company or the
termination thereof, and

 

(b)           covenants not to initiate or participate in (except
pursuant to a lawful subpoena) any lawsuit or other legal proceeding asserting
any such claims, liabilities, demands or causes of action.

 

This General
Release shall be broadly construed to include, but not be limited to, all
claims under any federal, state, or local laws, statutes, regulations, or
ordinances (including those prohibiting employment discrimination, such as the
federal Age Discrimination in Employment Act), and all claims in contract or
tort including, but not limited to, claims for breach of contract, negligence,
defamation, and wrongful or retaliatory discharge.  This General Release does not include any claim Employee may have
based upon facts occurring after the date that Employee executes this General Release.

 

2.             Knowing and Voluntary.  Employee acknowledges and agrees that:
(a) Employee has read and understands this General Release in its
entirety; (b) Employee has been advised in writing to consult with an
attorney concerning this General Release before signing it; (c) Employee
has 21 calendar days after receipt of this General Release to consider its
terms before signing it; (d) Employee has the right to revoke this General
Release in full within seven calendar days of singing it and that none of the
terms and provisions of this General Release shall become effective or be
enforceable until such revocation period has expired; (e) nothing
contained in this General Release waives any claim that may arise after the
date of its execution; and (f) Employee is executing this General Release
knowingly and voluntarily, without duress or reservation of any kind, and after
giving the matter full and careful consideration.

 

IN WITNESS WHEREOF, the undersigned has executed this
General Release as of the date set forth below.

 

	
  Executed:                            ,
  20      

  	
  EMPLOYEE:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [NAME]

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