Document:

Exhibit 10.2

CONSULTING AGREEMENT

The
Undersigned:

1                              POLYMER GROUP, INC, a public
company, organised under the laws of the State of Delaware, United States of
America, having its principle office at 4055 Faber Place Drive, Suite 201,
North Charleston, South Carolina 29405, United States of America, hereafter to
be referred to as: the “Company”, for this matter duly represented by James
Schaeffer, its Chief Executive Officer.

and

2                              MR R. ALTDORF, domiciled at Kleve
(4190), Germany, at the Hirschpfuhl 20, hereafter to be referred to as: “the
Consultant”.

Hereafter together to be referred to as: “the Parties”

WHEREAS:

·                              the
Company is in need of the services of a consultant;

·                              the
Consultant is able and agrees to render such services to the Company, for which
purposes he will make himself available to the Company;

·                              the
Parties vis-à-vis do not intend de jure nor de facto to conclude or create an employment relationship
between the Company and the Consultant;

HAVE AGREED
AS FOLLOWS:

Section 1: Assignment

1.1                     This
consulting agreement (“the Consulting Agreement”) will enter into effect on
July 1, 2006 and will be concluded for three years. The Consulting Agreement
will therefore end automatically on June 30, 2009, without any notice being
required. The Consulting Agreement may be extended for subsequent one year
periods by mutual agreement.

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1.2                     The
Consultant will offer strategic and other advice on a general as-needed basis
and with regard to special projects. The specific content of his function and
duties for each special project will be discussed and mutually agreed in all
reasonableness.

1.3                     The
Consultant will ensure the Company that he will perform his tasks and duties to
the best of his abilities and in accordance with the Company’s requirements and
the applicable law.

1.4                     The
Consultant will make himself available for the above-mentioned assignment for
150 days during the three year period mentioned under 1.1. The Company will
strive to engage the Consultant in a similar number of days per year.  One day shall equal 8 hours of work during a
24 hour day.  To the extent Consultant
works less than 8 hours during a 24 hour day, Consultant will aggregate his
time over multiple days until 8 hours (i.e., 1 day) have been achieved.  To the extent Consultant works more than 8
hours during a 24 hour day, Consultant will aggregate such additional time
until another 8 hours (i.e., 1 day) has been achieved.  For avoidance of doubt, it is possible for
Consultant to receive credit for up to 3 days of work in a 24 hour day (i.e., 3
x 8 = 24).  The Consultant shall submit a
record of his time to the Company no less than each calendar quarter during the
term.

Section 2: Termination

2.1                     This
agreement cannot be terminated before June 30, 2009, unless provided for in
this agreement.

2.2                     Notwithstanding
the above, the Company can terminate, by written notification, the Consulting
Agreement with immediate effect without the obligation to pay any form of
compensation, in the event the Consultant:

-                                files
for bankruptcy or is declared bankrupt;

-                                applies
for suspension of payment by a court’s decision and/or in the event that such
suspension of payment is granted;

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-                                is
in material default or negligence in the performance of the obligations of this
agreement.

-                                is
guilty of embezzlement;

-                                is
guilty of misappropriation of corporate funds or other material acts of
dishonesty;

-                                is
engaged in any activity of that could harm the business or reputation of the
Company;

-                                violates
any statutory, material, contractual or legal duty or obligation to the
Company.

2.3                     Notwithstanding
the above, the Consultant can terminate, by written notification, the
Consulting Agreement with immediate effect in case the Company:

-                                files
for bankruptcy or is declared bankrupt;

-                                applies
for suspension of payment by a court’s decision and/or in the event that such
suspension of payment is granted;

-                                is
in material default or negligence in the performance of the obligations of this
agreement.

In case of such a
termination, the Company agrees to pay Consultant within 10 days the remaining
fixed monthly fee due from the date of termination to the end of the contract
term.

Section 3: Fee and expenses

3.1                     In
consideration for the consultancy services rendered by the Consultant to the
Company the latter will pay the former a fixed monthly fee of € 5,312.50,
excluding VAT.  For every day the 150 day
maximum as mentioned under 1.4 is exceeded, the Company will pay the Consultant
a fixed daily fee of € 1,275, excluding VAT. No fees are due from the date the
Consultant has not been able, for whatever reason (e.g. illness or disability),
to perform his work under this Consulting Agreement for a period of 30 days;
provided, every reasonable effort will be made to allow Consultant to make up
any time missed.

3.2                     The
Company shall reimburse the reasonable and pre-approved travel and
out-of-pocket expenses incurred by the Consultant in the performance of his
consulting activities. Travel will be
done in accordance with the Company’s policies as they exist from time-to-time
and as they apply to vice presidents of the Company.

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3.3                     The
Consultant shall invoice the Company every month. The Company shall pay these
invoices within 10 days after the invoice date. This invoice has to be faxed to
the attention of the CEO of the Company.

Section 4: Confidentiality and disclosure

4.1                     The
Consultant must at all times both during and after the term of this consultancy
agreement observe secrecy with respect to the terms and conditions of the
Consulting Agreement and with respect to all matters coming to the knowledge of
the Consultant during the performance of his consulting activities as well as
with respect to all trade secrets and confidential information of the Company
or its affiliates or received by the Company, unless such matters are of nature
requiring legal communication required to third parties and prior reasonable
notice of such disclosure is given to the Company.

4.2                     It
is prohibited for the Consultant to have books, correspondence, notes,
drawings, calculations, and other documents of which the confidential character
can be assumed or copies or drawings thereof, and that belong to the Company,
to have in his private possession, or to show to third parties or to put at the
disposal without prior written approval of the Company.

4.3                     All
such correspondence, notes, drawings, calculations etc. even if they are put at
the disposal of the Consultant or were personally addressed and sent to the
Consultant, have to be returned at first request or at the termination of the
Consulting Agreement, together with all other Company property that the
Consultant possesses or controls.

Section 5: Non-competition

Without
the prior written consent of the Company, the Consultant will not during the
duration of the Consulting Agreement and during a period of one year after
termination of the Consulting Agreement, work directly or indirectly with or
for a company or group or individual(s), that wholly or partially are engaged
in the same business as the Company and/or its affiliated companies, wherever
in the world.

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Section 6: Non-solicitation

The
consultant will not during the duration of the Consulting Agreement and during
a period of one year after the termination of the Consulting Agreement without
the prior written consent of the Company, either alone or jointly with others,
or as employee, advisor, manager, consultant or agent of any person or entity,
directly or indirectly, solicit the employment of any person who is, or has at
any time during the two years preceding the termination date been, an employee,
vendor or customer of the Company and/or any of its affiliated companies.

Section 7: Intellectual and industrial property
rights

7.1                     All
Intellectual and Industrial property rights resulting from the consulting
activities carried out by the Consultant pursuant to the Consulting Agreement
shall become and remain the property of the Company. Insofar as the
Intellectual and Industrial property rights are not vested in the Company by
operation of law, the Consultant herewith transfers to the Company all
Intellectual and Industrial property rights resulting from his consulting
activities. The Consultant waives his moral rights to which the may be
entitled.

7.2                     The
Company warrants that the fee mentioned under section 3 includes reasonable
compensation for the fact that Intellectual and Industrial property rights will
vest in the Company and that Consultant will not be entitled to any further
compensation.

Section 8: Miscellaneous

8.1                     The
Consultant will hold the Company harmless from any possible claim with respect
to the existence of an employment agreement, in the event this agreement will
be considered as such by any relevant government, public authority or court.

8.2                     No
modification, variation or amendment to this agreement shall be effective
unless such modification, variation or amendment is in writing and has been
signed by or on behalf of both parties.

8.3                     This
agreement is not assignable by Consultant without the express written consent
of the Company, which consent may be withheld in its sole discretion.  This agreement is freely assignable by the
Company to any affiliated entity.  This
agreement is binding on each party’s successors and permitted assignees.

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8.4                     This
agreement contains the entire understanding between the Company and the
Consultant and therefore supersedes any previous (oral and written) agreements.

8.5                     This
agreement shall be exclusively governed by and shall be interpreted by the laws
of the State of Delaware, United States of America.

8.6                     If
any stipulation or paragraph of the Consulting Agreement will be declared null
and void, this will not affect the validity of the rest of the agreement. The
Company and The Consultant will consult with each other regarding the
stipulations, which are not valid in order to agree upon a new stipulation that
corresponds as much as possible with the essence of the original stipulation.

Thus
agreed and signed in duplicate, each party acknowledging having received one
copy, on the 8th day of May, 2006.

	
  /s/

  	
  /s/

  
	
   

  	
   

  
	
  James Schaeffer

  	
  Mr Rolf Altdorf

  
	
   

  	
   

  
	
  On behalf of
  Polymer Group, Inc.

  	
   

  

 

 Page 6 of 6Exhibit 10.1

TRAMMELL CROW COMPANY

LONG-TERM INCENTIVE PLAN

PERFORMANCE UNIT AWARD AGREEMENT

Dear                            :

1.             Performance Unit
Award.  Trammell Crow
Company, a Delaware corporation (the “Company”), hereby awards to you             
Performance Units (this “Award”) pursuant to Section 8 of the Trammell Crow
Company Long-Term Incentive Plan (the “Plan”), a copy of which is attached
hereto as Exhibit A and made a part hereof for all purposes.  The Date of Grant for this Award is            ,
2006.  This Award is subject to your
acceptance of and agreement to all the terms, conditions, and restrictions in
the Plan that are applicable to Awards under Section 8 and to your acceptance
of and agreement to the further terms, conditions and restrictions described in
this Performance Unit Award Agreement (the “Agreement”).  If any provision of this Agreement conflicts
with the expressly applicable terms of the Plan, it is hereby acknowledged and
agreed that those terms of the Plan shall control and, if necessary, the
applicable provisions of this Agreement shall be hereby deemed amended so as to
carry out the purposes and intent of the Plan. 
Capitalized terms used in this Agreement that are not otherwise defined
herein shall have the meaning given them in the Plan in effect as of the date
of this Agreement.

2.             Performance Period.  The Performance Period for this Award shall
be                 .

3.             Performance Unit
Value.  If the Company
fails to achieve the Performance Target described in Section 4, the value of a
Performance Unit for this Award shall be $0. 
If the Company achieves the Performance Target described in Section 4,
the value of a Performance Unit for this Award shall be a value not less than
$0 and not more than                           ,
as determined in the sole discretion of the Committee following the Performance
Period.

4.             Performance Target.  The Performance Target for this Award shall
be                          .

5.             Eligibility.  To be eligible to receive a payment under
Section 6 below, you must remain an Employee until such time as the Company
pays the other members of its Executive Officer Committee their annual cash
incentive bonuses with respect to the calendar year which includes the
Performance Period.  If you cease to be
an Employee prior to such date, you will not be eligible to receive a payment
hereunder.  Additionally, if your
employment is terminated for Cause prior to your receipt of any amount that
would otherwise be payable hereunder, you will not be eligible to receive such
amount.

6.             Payment.  Subject to Section 5 of this Agreement, if
the Company achieves the Performance Target during the Performance Period, the
Company may pay to you, in cash, an amount up to the number of Performance
Units awarded to you, as set forth in Section 1 above, multiplied by the value
of a Performance Unit, as set forth in Section 3 above.  Notwithstanding

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the preceding sentence
and the achievement of the Performance Target, the Committee may, in its sole
and absolute discretion, reduce, but not increase, the cash payment to you in
full settlement of this Award to an amount no less than $0.00.

7.             Agreement
Respecting Taxes.  You
agree that you will pay to the Company, or make arrangements satisfactory to
the Company regarding payment of any federal, state or local taxes of any kind
required by law to be withheld by the Company with respect to this Award; and
the Company shall, to the extent permitted by law, have the right to deduct
from any payment of any kind otherwise due to you, including, but not limited
to, payments pursuant to Section 6 hereof, any federal, state, or local taxes
of any kind required by law to be withheld with respect to this Award.

8.             Right of Company to
Terminate Employment. 
Nothing contained in this Agreement shall (a) constitute a term of
employment with the Company or any Subsidiary, (b) confer upon you the
right to continue in the employ of the Company or any Subsidiary, or
(c) interfere in any way with the rights of the Company or any Subsidiary
to terminate your employment at any time.

9.             Acknowledgment.  By executing this Agreement in the
appropriate space below, you [(a)]
acknowledge that you have been provided with a copy of the Plan, and that your
rights under and with respect to this Award are and will be subject to all the
terms and provisions of the Plan and this Agreement[, and (b)
acknowledge that this Agreement is not intended to and does not modify the
terms of your employment agreement with Company, and (c) acknowledge that the
payment, if any, made to you under Section 6 of 
this Agreement will constitute the Annual Bonus for 2006 discussed in
your employment agreement with the Company.]

[THE REMAINDER OF THIS
PAGE IS INTENTIONALLY BLANK]

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IN
WITNESS WHEREOF, the Company has caused this Agreement to be
executed by its duly authorized officer as of the date first written above.

	
   

  	
  TRAMMELL CROW COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  
	
   

  	
  Its:

  	
   

  
				

AGREED
AND ACCEPTED

	
  By:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 S-1

 

Exhibit A

Trammell
Crow Company Long-Term Incentive Plan

 A-1

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