Document:

Exhibit 10.2 - Employment Agreement between Asahi Tec and Jeffrey Stafeil

    
      Exhibit
        10.2

       

      EMPLOYMENT
        AGREEMENT BETWEEN ASAHI TEC CORPORATION AND JEFFREY
        STAFEIL

       

      This
        Agreement is made by and between Asahi Tec Corporation, a Japanese corporation
        (“Company”),
        and
        Jeffrey M. Stafeil (“Executive”),
        effective as of the Effective Time (as defined in the Agreement and Plan
        of
        Merger, dated as of August 31, 2006, among Company, Argon Acquisition Corp.
        and
        Metaldyne Corporation (“Metaldyne”)
        (the
“Merger
        Agreement”))
        (hereinafter, the “Effective
        Date”).
        This
        Agreement replaces and supercedes the Employment Agreement between Metaldyne
        and
        Executive with an Effective Date of July 16, 2003, as amended effective as
        of
        September 10, 2004 and September 27, 2005 (as so amended, the “Original
        Employment Agreement”).
        In
        order to induce Executive to be employed as described herein, Company enters
        into this Agreement with Executive to set out the terms and conditions that
        will
        apply to Executive’s employment. Executive is willing to accept such employment
        and assignment and to perform services on the terms and conditions hereinafter
        set forth. It is therefore hereby agreed by and between the parties as
        follows:

       

      SECTION
        1.   Employment. (a)
        Company
        agrees to (i) employ Executive, and shall appoint Executive, as its Co-Chief
        Financial Officer and Chief Integration Officer (for clarification, such
        position shall be shikko-yaku
        (executive officer) under the Japanese Corporation Act), (ii) cause Metaldyne
        to
        continue to employ Executive as Chief Financial Officer of Metaldyne and
        (iii)
        appoint Executive as a director of Company, subject to shareholder approval.
        In
        his capacity as Co-Chief Financial Officer and Chief Integration Officer
        of
        Company, Executive shall have duties commensurate with his positions as directed
        from time to time by the Co-Chairmen of the Company (the “Chairmen”)
        and
        shall report to the Chairmen. In his capacity as Chief Financial Officer
        of
        Metaldyne, Executive shall have duties commensurate with his position as
        directed from time to time by the Chief Executive Officer of Metaldyne (the
        “Metaldyne CEO”) and shall report to the Metaldyne CEO. Executive accepts
        employment in accordance with this Agreement and agrees to devote his full
        business time and efforts to the performance of his duties and responsibilities
        hereunder, subject at all times to review and control of the Chairmen and
        the
        Metaldyne CEO, as applicable. During the Term of Employment (as defined below),
        Executive also agrees to serve, if elected, as an officer or director, or
        both,
        of Company or any subsidiary, limited liability company or other business
        entity
        of which Company or Metaldyne holds at least a fifty percent (50%) ownership
        interest, without the payment of any additional compensation therefor,
provided
        that if
        Executive serves as an officer or director of Company or any such subsidiary,
        limited liability company or other business entity, Executive shall be entitled
        to the same director and officer liability protections as the other officers
        or
        directors, as applicable, of Company or such subsidiary, limited liability
        company or other business entity.

       

      (b)
          Nothing
        in this Agreement shall preclude Executive from engaging in charitable and
        community affairs, from managing any passive investment (i.e., an investment
        with respect to which Executive is in no way involved with the management
        or
        operation of the entity in which Executive has invested) made by him in publicly
        traded equity securities or other property (provided that no such investment
        may
        exceed five percent (5%) of the equity of any entity, without the prior approval
        of the Board of Directors of Company (the “Board”))
        or
        from serving, subject to the prior approval of the 

       

      
        
          

           

          
          

        

        
          
          

          
            

          

        

        
          
          

           

        

      

      Board,
        as
        a member of boards of directors or as a trustee of any other corporation,
        association or entity, to the extent that any of the above activities do
        not
        conflict with any provision of this Agreement.

       

      (c)
          During
        the Term of Employment, Executive’s principal place of employment shall be at
        such location or locations as determined from time to time by agreement of
        the
        Chairmen and Executive, consistent with the needs of Company and Metaldyne
        and
        as required in connection with the performance of Executive’s duties and
        responsibilities hereunder; provided
        that
        Executive may be required to spend up to 50% of his business time in Japan
        as
        required in connection with the performance of his duties and responsibilities;
        provided,
        however,
        that
        Executive shall not be required to establish a permanent residence in Japan
        unless otherwise mutually agreed by Company and Executive. Executive
        acknowledges that his duties and responsibilities hereunder shall require
        him to
        travel on business, including to Japan, to the extent necessary to perform
        such
        duties and responsibilities.

       

      (d)
          Effective
        as of the Effective Time, this Agreement shall become effective and the parties
        hereto shall be bound hereby and the Original Employment Agreement shall
        terminate and have no further force or effect. Without limiting the generality
        of the foregoing, Executive shall not be entitled to, and Company and Metaldyne
        shall have no obligation to provide, any payments, benefits, gross-ups or
        other
        entitlements pursuant to Sections 6(d) or 8 of the Original Employment
        Agreement.

       

      (e)
          For
        the
        avoidance of doubt, Executive acknowledges and agrees that, during the Term
        of
        Employment, he is not an “employee” of the Company for purposes of the Labor
        Standard Law of Japan and as such he does not have the rights of an “employee”
for purposes of the Labor Standard Law of Japan.

       

      
        
          

           

          
          

        

        
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      SECTION
        2.   Term
        of Employment.
        The term
        of Executive’s employment under this Agreement (“Term
        of Employment”)
        shall
        commence on the Effective Date and, subject to the terms hereof, shall terminate
        on the earlier of the fifth anniversary of the Effective Date (“Initial
        Period”)
        and
        the date that either party terminates Executive’s employment under this
        Agreement; provided
        that the
        Term of Employment shall automatically renew on the fifth anniversary of
        the
        Effective Date and on each subsequent anniversary thereof for one year
        (“Renewal
        Period”),
        unless either party terminates Executive’s employment or Company delivers to
        Executive or Executive delivers to Company written notice at least 180 days
        in
        advance of the expiration of the Initial Period or any Renewal Period that
        the
        Term of Employment shall not be extended, in which case the Term of Employment
        shall end at the end of the Initial Period or the Renewal Period in which
        such
        notice was delivered and shall not be further extended except by written
        agreement of Company and Executive. The expiration of the Term of Employment
        under this Agreement shall not be a termination of this Agreement to the
        extent
        that other provisions of this Agreement by their terms survive the Term of
        Employment. At the expiration of the Term of Employment, Executive shall
        resign
        from all employment and director positions with Company, Metaldyne and their
        subsidiaries and affiliates, unless otherwise requested by Company.

       

      SECTION
        3.   Compensation.

       

      (a)
          Salary.
        As of
        the Effective Date, Company or Metaldyne shall pay Executive, for all services
        rendered hereunder, at the rate of Four Hundred Seventy-Five Thousand Dollars
        ($475,000) per annum (“Base
        Salary”).
        Base
        Salary shall be payable in accordance with the ordinary payroll practices
        of
        Company and shall be subject to all applicable federal, state and local
        withholding and reporting requirements.

       

      (b)
          Metaldyne
        Annual Value Creation Plan (“AVCP”).
        During
        the Term of Employment, Executive shall continue to be eligible to participate
        in the AVCP, a copy of which has been provided to Executive, subject to all
        the
        terms and conditions of such plan, as such plan may be modified from time
        to
        time. For purposes of the 2006 AVCP, Executive’s award shall be subject to the
        terms of any communication previously provided by Metaldyne to Executive
        regarding Executive’s participation in the AVCP. For purposes of the AVCP for
        Company’s subsequent fiscal years, Executive’s target bonus opportunity shall be
        60% of Base Salary, which shall be payable based on achievement of a
        consolidated business plan that reflects both Company’s and Metaldyne’s
        performance, subject to such other terms and conditions as the Board may
        establish from time to time.

       

      (c)
          Special
        Bonus.
        On the
        Effective Date, Company shall pay Executive a one-time bonus consisting of
        (i)
        $600,000 in cash and (ii) a number of fully vested shares of common stock
        of
        Company with an aggregate value of $500,000, based on the Purchase Price
        (as
        defined in the Parent Stock Purchase Agreement (as defined in the Merger
        Agreement)). Executive shall be responsible for the payment of all taxes
        required to be deducted or withheld or otherwise paid with respect to such
        bonus.

       

      
        
          
          

        

        
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      SECTION
        4.   Employee
        Benefits.

       

      (a)
          Employee
        Retirement Benefit Programs, Welfare Benefit Programs, Plans and
        Practices.
        Company
        and Metaldyne shall provide Executive with retirement and welfare benefits
        that
        are commensurate with current levels.

       

      (b)
          Vacation.
        During
        the Term of Employment, Executive shall be entitled to twenty (20) business
        days
        of paid vacation each calendar year, which shall be taken at such times as
        are
        consistent with Executive’s responsibilities hereunder. Vacation days shall be
        subject to Company’s and Metaldyne’s general policies regarding vacation days,
        as such policies may be modified from time to time.

       

      (c)
          Executive
        Vehicle Program.
        During
        Metaldyne’s 2006 fiscal year and, subject to review and approval by the
        Compensation Committee of the Board (the “Compensation
        Committee”),
        during the remainder of the Term of Employment, Executive shall be entitled
        to
        participate in Metaldyne’s Executive Vehicle Program, as such program exists on
        the date of this Agreement. Executive acknowledges that some portion of his
        personal use of the automobile will represent additional personal income
        to him
        and will be reported to him as such.

       

      (d)
          Stock
        Options.
        All
        stock options with respect to Metaldyne stock that Executive holds as of
        the
        Effective Date shall be treated in the manner provided in the Merger Agreement;
        provided
        that
        Executive acknowledges and agrees that (i) each of his Metaldyne Options
        will,
        in accordance with the Merger Agreement and the terms of the 2001 Long Term
        Equity Incentive Plan, be converted on the Effective Date into a right to
        receive the excess, if any, of the Common Merger Consideration (as defined
        in
        the Merger Agreement) over the exercise price per share of Metaldyne common
        stock subject to such Metaldyne Option, and (ii) both before and after the
        adjustment of the exercise price of each of his Metaldyne Options to reflect
        the
        decrease in the fair market value of Metaldyne common stock as a result of
        the
        distribution of all the TriMas shares held by Metaldyne to its shareholders,
        as
        provided for in the Merger Agreement, the excess referred to in clause 4(d)(i)
        will be $0. Accordingly, Executive agrees that, contingent on the Closing
        (as
        defined in the Merger Agreement) and effective on the Effective Date, each
        of
        his Metaldyne Options will be cancelled and Executive will not, at any time,
        be
        entitled to any payment in respect of, or arising out of, such cancellation
        and
        he will not otherwise have any right or claim relating in any way to, or
        arising
        out of, any of his Metaldyne Options. In addition, on the Effective Date,
        Executive shall be granted stock options with respect to Company common stock
        in
        an amount and subject to the terms set forth in the Merger Agreement and
        the
        schedules thereto.

       

      SECTION
        5.   Expenses.
        Subject
        to prevailing Company policy or such guidelines as may be established by
        the
        Board, Company will reimburse Executive for all reasonable expenses incurred
        by
        Executive in carrying out his duties.

       

      SECTION
        6.   Termination
        of Employment.
        Executive’s employment during or after the Term of Employment shall be
        terminable at will by either party at any time for any reason; provided
        that

       

      
        
          

           

          
          

        

        
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      any
        termination of employment, whether by Company or Executive, shall apply to
        Executive’s employment with both Company and Metaldyne.

       

      (a)
          Termination
        Without Cause or for Good Reason.
        If Executive’s employment is terminated during the Term of Employment (i)
        by Company for any reason other than Cause (as defined in Section 6(c) hereof),
        Disability (as defined in Section 6(d) hereof) or death or (ii) by
        Executive for Good Reason (as defined in Section 6(a)(ii) hereof), then,
        in each
        case, Company shall pay Executive the Severance Package. A termination by
        Executive without Good Reason, or with Good Reason prior to the first
        anniversary of the Effective Date, shall be deemed to be a termination under
        Section 6(b) below and not a termination under this Section 6(a).

       

      (i)
          For
        purposes of this Agreement, “Severance
        Package”
shall
        mean:

       

      (A)
          Base
        Salary continuation for twelve (12) months (the “Severance
        Period”)
        at
        Executive’s annual Base Salary rate in effect on the date of termination,
        subject to all applicable federal, state and local withholding and reporting
        requirements. These salary continuation payments shall be paid in accordance
        with usual Company payroll practices;

       

      (B)
          A
        bonus
        equal to one hundred percent (100%) of the target bonus opportunity under
        AVCP,
        payable in equal installments over the Severance Period, subject to the same
        withholding and reporting requirements described in Section 6(a)(i)(A). In
        addition, Executive shall receive the bonus for the most recently completed
        bonus term if a bonus has been earned and declared for such term but not
        paid,
        which bonus shall be paid in accordance with customary practices for payment
        of
        bonuses under AVCP; and

       

      (C)
          Continuation
        of benefits under any life, group health, and dental insurance benefits
        substantially similar to those which Executive was receiving immediately
        prior
        to termination of employment until the earlier of:

       

      (1)
          the
        end
        of the Severance Period and

       

      (2)
          the
        date
        on which Executive becomes eligible to receive any benefits under any plan
        or
        program of any other employer.

       

      The
        continuing coverage provided under this Section 6(a)(i)(C) is subject to
        Executive’s eligibility to participate in such plans and all other terms and
        conditions of such plans, including Company’s and Metaldyne’s ability to modify
        or terminate such plans or coverages. Company may satisfy this obligation
        in
        whole or in part by paying the premium otherwise payable by Executive for
        continuing coverage under Section 601 et seq. of the Employee Retirement
        Income
        Security Act of 1974, as it may be 

       

      
        
          

           

          
          

        

        
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      amended
        or replaced from time to time, or under any similar provision of non-United
        States law. If Executive is not eligible for continued coverage under one
        of the
        benefit plans noted in this paragraph (C) that he was participating in during
        his employment, Company shall pay Executive the cash equivalent of the insurance
        cost for the duration of the applicable period at the rate of Company’s or
        Metaldyne’s cost of coverage for Executive’s benefits as of the date of
        termination. Any obligation to pay the cash equivalent of such cost under
        this
        item may be settled, at Company’s discretion, by a lump-sum payment of any
        remaining premiums.

       

      (ii)
          For
        purposes of this Agreement, a termination of employment by Executive for
        “Good
        Reason”
shall
        be a termination by Executive following the occurrence of any of the following
        events unless Company has cured as provided below:

       

      (A)
          Removal
        from the position of Co-Chief Financial Officer or Chief Integration Officer
        of
        Company or Chief Financial Officer of Metaldyne (other than as a result of
        a
        promotion or change in position which is not material);

       

      (B)
          Any
        material and permanent diminution in Executive's duties or responsibilities
        hereunder as set forth in Section 1(a);

       

      (C)
          A
        material reduction in the aggregate value of Base Salary or bonus opportunity
        or
        a material and permanent reduction in the aggregate value of other benefits
        provided to Executive by Company and Metaldyne; or

       

      (D)
          A
        permanent reassignment of Executive, without his advance written consent,
        to
        another primary office, or a relocation of the office that is Executive’s
        primary office as of the Effective Date, unless Executive’s primary office
        following such reassignment or relocation is within a thirty-five (35) mile
        radius of Executive’s primary office before the reassignment or relocation or
        Executive’s permanent residence on the date of the reassignment or relocation;
provided
        that no
        such reassignment or relocation shall be deemed to have occurred as a result
        of
        Executive’s travel to and from, or provision of services in, Japan in accordance
        with Section 1(c).

       

      Executive
        must notify Company of any event constituting Good Reason within one hundred
        twenty (120) days after Executive becomes aware of such event or such event
        shall not constitute Good Reason for purposes of this Agreement, provided
        that
        Company shall have fifteen (15) days from the date of such notice to cure
        the
        Good Reason event. Executive cannot terminate his employment for Good Reason
        if
        Cause exists at the time of such termination. A termination by Executive
        following cure shall not be a termination for Good Reason. A failure

       

      
        
          

           

          
          

        

        
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      of
        Executive to notify Company after the first occurrence of an event constituting
        Good Reason shall not preclude any subsequent occurrences of such event (or
        similar event) from constituting Good Reason.

       

      (b)
          Voluntary
        Termination by Executive; Nonrenewal of Agreement.
        If
        Executive terminates his employment with Company without Good Reason during
        or
        after the Term of Employment, or if the Term of Employment expires following
        notice of nonrenewal by either party under Section 2, then Company shall
        pay Executive his accrued unpaid Base Salary through the date of termination
        and
        the AVCP award for the most recently completed year if an award has been
        earned
        and declared for such year but not paid. The accrued unpaid Base Salary amounts
        payable under this Section 6(b) shall be payable in a lump sum within ten
        (10)
        days of termination of employment. Any accrued unpaid bonus amounts payable
        under this Section 6(b) shall be payable in accordance with customary practices
        for payment of bonuses under AVCP. No prorated bonus for the year of termination
        shall be paid. Any other benefits under other plans and programs of Company
        or
        Metaldyne in which Executive is participating at the time of Executive’s
        termination of employment shall be paid, distributed or settled, or shall
        expire, in each case in accordance with their terms, and Company and Metaldyne
        shall have no further obligations hereunder with respect to Executive following
        the date of termination of employment.

       

      (c)
          Termination
        for Cause.
        If
        Executive’s employment is terminated for Cause, Company shall pay Executive his
        accrued but unpaid Base Salary through the date of the termination of
        employment, and no further payments or benefits shall be owed. The accrued
        unpaid Base Salary amounts payable under this Section 6(c) shall be payable
        in a
        lump sum within ten (10) days of termination of employment. As used herein,
        the
        term “Cause”
shall
        be limited to:

       

      (i)
          Executive’s
        conviction of or plea of guilty or nolo contendere to a crime constituting
        a
        felony under the laws of the United States or any state thereof, a crime
        under
        Japanese law with respect to which imprisonment is the minimum prescribed
        penalty or any similar crime in any other jurisdiction in which Company or
        Metaldyne conducts business;

       

      (ii)
          Executive’s
        willful misconduct in the performance of his duties hereunder;

       

      (iii)
          Executive’s
        willful and continued failure to follow the reasonable and lawful instructions
        of the Chairmen, the Metaldyne CEO or the Board; or

       

      (iv)
          Executive’s
        willful and/or continued neglect of duties (other than any such neglect
        resulting from incapacity of Executive due to physical or mental
        illness);

       

      provided,
        however,
        that
        Cause shall arise under items (iii) or (iv) only following ten (10) days’
written notice thereof from Company which specifically identifies such failure
        or neglect and the continuance of such failure or neglect during such notice
        period. Any 

       

      
        
          

           

          
          

        

        
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      failure
        by Company to notify Executive after the first occurrence of an event
        constituting Cause shall not preclude any subsequent occurrences of such
        event
        (or a similar event) from constituting Cause.

       

      (d)
          Disability.
        In the
        event that Executive is unable to perform his duties during the Term of
        Employment on account of a disability which continues for one hundred eighty
        (180) consecutive days or more, or for an aggregate of one hundred eighty
        (180)
        days in any period of twelve (12) months, Company may, in its discretion,
        terminate Executive’s employment hereunder. Company’s obligation to make
        payments under this Agreement shall, except for earned but unpaid Base Salary
        and earned and declared but unpaid AVCP awards and the payment described
        in the
        next sentence, cease on the first to occur of (i) the date that is six (6)
        months after such termination or (ii) the date Executive becomes entitled
        to
        benefits under a long-term disability program of Company or Metaldyne. For
        purposes of this Agreement, “Disability”
shall
        be defined by the terms of Metaldyne’s long-term disability policy, or, in the
        absence of such policy, as a physical or mental disability that prevents
        Executive from performing substantially all of his duties under this Agreement
        and which is expected to be permanent. Company may only terminate Executive
        on
        account of Disability after giving due consideration to whether reasonable
        accommodations can be made under which Executive is able to fulfill his duties
        under this Agreement. The commencement date and expected duration of any
        physical or mental condition that prevents Executive from performing his
        duties
        hereunder shall be determined by a medical doctor selected by Company. Company
        may, in its discretion, require written confirmation from a physician of
        Disability during any extended absence.

       

      (e)
          Death.
        In the
        event of Executive’s death during the Term of Employment, all obligations of
        Company to make any further payments, other than an obligation to pay any
        accrued but unpaid Base Salary to the date of death and any earned and declared
        but unpaid bonuses under AVCP to the date of death and the payment described
        in
        the next sentence, shall terminate upon Executive’s death. 

       

      (f)
          No
        Duplication of Benefits.
        Notwithstanding any provision of this Agreement to the contrary, if Executive’s
        employment is terminated for any reason, in no event shall Executive be eligible
        for payments under more than one subsection of this Section 6.

       

      (g)
          Payments
        Not Compensation.
        Any
        participation by Executive in, and any terminating distributions and vested
        rights under, retirement or savings plans, regardless of whether such plans
        are
        qualified or nonqualified for tax purposes, shall be governed by the terms
        of
        those respective plans. For purposes of determining benefits and the amounts
        to
        be paid to Executive under such plans, any salary continuation or severance
        benefits other than salary or bonus accrued before termination shall not
        be
        compensation for purposes of accruing additional benefits under such
        plans.

       

      (h)
          Executive’s
        Duty to Provide Materials.
        Upon the
        termination of Executive’s employment for any reason, Executive or his estate
        shall surrender to Company all correspondence, letters, files, contracts,
        mailing lists, customer lists, 

       

      
        
          

           

          
          

        

        
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      advertising
        material, ledgers, supplies, equipment, checks and all other materials and
        records of any kind that are the property of Company or any of its subsidiaries
        or affiliates, that may be in Executive’s possession or under his control,
        including all copies of any of the foregoing.

       

      
        
          

           

          
          

        

        
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        SECTION
          7.   Notices.
          All
          notices or communications hereunder shall be in writing, addressed as
          follows:

         

      

      
        	 	
                To
                  Company:

              	
                Asahi
                  Tec Corporations

                547-1
                  Horinouchi, Kikugawa City,

                Shizuoka
                  439-8651, Japan

                Fax:
                  81-537-36-4160

                Attention:
                  Suguru Kimura

              
	 	
                with
                  a copy to: 

              	
                Anderson
                  Mori & Tomotsune

                Izumi
                  Garden Tower

                1-6-1,
                  Roppongi, Minato-ku,

                Tokyo
                  106-6036, Japan

                Fax:
                  (03) 6888-3067

                Attention:
                  Noritaka Niwano, Esq.

              
	 	
                 

                To
                  Executive: 

              	
                 

                Jeffrey
                  M. Stafeil

              

      

      

      Any
        such
        notice or communication shall be delivered by hand or by courier or sent
        certified or registered mail, return receipt requested, postage prepaid,
        addressed as above (or to such other address as such party may designate
        in a
        notice duly delivered as described above), and the third (3rd) business day
        after the actual date of mailing shall constitute the time at which notice
        was
        given.

       

      SECTION
        8.   Separability;
        Legal Fees.
        If any
        provision of this Agreement shall be declared to be invalid or unenforceable,
        in
        whole or in part, such invalidity or unenforceability shall not affect the
        remaining provisions hereof which shall remain in full force and effect.
        In the
        event of a dispute by Company, Executive or others as to the validity or
        enforceability of, or liability under, any provision of this Agreement, Company
        shall reimburse Executive for all reasonable legal fees and expenses incurred
        by
        him in connection with such dispute if Executive substantially prevails in
        the
        dispute, but in all other cases Executive shall be responsible for such fees
        and
        expenses.

       

      SECTION
        9.   Assignment
        and Assumption.
        This
        contract shall be binding upon and inure to the benefit of the heirs and
        representatives of Executive and the assigns and successors of Company, but
        neither this Agreement nor any rights or obligations hereunder shall be
        assignable or otherwise subject to hypothecation by Executive (except by
        will or
        by operation of the laws of intestate succession) or by Company, except that
        Company may assign this Agreement to any successor (whether by merger, purchase
        or otherwise) to all or substantially all of the stock, assets or business
        of
        Company.

       

      SECTION
        10.   Amendment.
        This
        Agreement may only be amended by written agreement of the parties
        hereto.

       

      SECTION
        11.   Non-Competition;
        Non-Solicitation; Confidentiality. (a)
        Executive
        represents that acceptance of employment under this Agreement 

       

      
        
          

           

          
          

        

        
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      and
        performance under this Agreement are not in violation of any restrictions
        or
        covenants under the terms of any other agreements to which Executive is a
        party.

       

      (b)
          Executive
        acknowledges and recognizes the highly competitive nature of the business
        of
        Company and accordingly agrees that, in consideration of this Agreement,
        the
        rights conferred hereunder, and any payment hereunder, Executive shall not
        engage, either directly or indirectly, as a principal for Executive’s own
        account or jointly with others, or as a stockholder in any corporation or
        joint
        stock association, or as a partner or member of a general or limited liability
        entity, or as an employee, officer, director, agent, consultant or in any
        other
        advisory capacity, while employed by Company and for the six-month period
        following the termination of Executive’s employment for any reason
        (“Non-Compete
        Term”),
        in
        any business (other than Company, Metaldyne or their respective subsidiaries)
        which designs, develops, manufactures, distributes, sells or markets the
        type of
        products or services sold, distributed or provided by Company, Metaldyne
        or any
        of their respective subsidiaries during the two (2) year period prior to
        the
        date of termination of Executive’s employment (the “Business”).

       

      Nothing
        herein shall prevent Executive from owning, directly or indirectly, not more
        than five percent (5%) of the outstanding shares of, or any other equity
        interest in, any entity engaged in the Business and listed or traded on a
        national securities exchange or in an over-the-counter securities
        market.

       

      (c)
          During
        the Non-Compete Term, Executive shall not (i) directly or indirectly employ,
        solicit or receive or accept the performance of services by, any active employee
        of Company, Metaldyne or any of their respective subsidiaries who is employed
        primarily in connection with the Business, except in connection with general,
        non-targeted recruitment efforts such as advertisements and job listings,
        or
        directly or indirectly induce any employee of Company, Metaldyne or any of
        their
        respective subsidiaries to leave Company, Metaldyne or any of their respective
        subsidiaries, or assist in any of the foregoing, or (ii) solicit for any
        business that is engaged in the Business any person who is a customer or
        former
        customer of Company, Metaldyne or any of their respective subsidiaries, unless
        such person shall have ceased to have been such a customer for a period of
        at
        least six (6) months.

       

      (d)
          Executive
        shall not at any time (whether during or after his employment with Company)
        disclose or use for Executive’s own benefit or purposes or the benefit or
        purposes of any other person, firm, partnership, joint venture, association,
        corporation or other business organization, entity or enterprise other than
        Company, Metaldyne or any of their respective subsidiaries, any trade secrets,
        information, data or other confidential information of Company, Metaldyne
        or any
        of their respective Subsidiaries, including but not limited to information
        relating to customers, development programs, costs, marketing, trading,
        investment, sales activities, promotion, credit and financial data, financing
        methods, plans or the business and affairs of Company, Metaldyne or any of
        their
        respective subsidiaries generally, unless required to do so by applicable
        law or
        court order, subpoena or decree or otherwise required by law, with reasonable
        evidence of such determination promptly provided to Company. The

       

      
        
          

           

          
          

        

        
          11

          
            

          

        

        
          
          

           

        

      

      preceding
        sentence of this paragraph (d) shall not apply to information which is not
        unique to Company, Metaldyne or any of their respective subsidiaries or which
        is
        generally known to the industry or the public other than as a result of
        Executive’s breach of this covenant. Executive agrees that upon termination of
        employment with Company for any reason, Executive will return to Company
        immediately all memoranda, books, papers, plans, information, letters and
        other
        data, and all copies thereof or therefrom, in any way relating to the business
        of Company, Metaldyne or any of their respective subsidiaries, except that
        Executive may retain personal notes, notebooks and diaries. Executive further
        agrees that Executive will not retain or use for Executive’s account at any time
        any trade names, trademark or other proprietary business designation used
        or
        owned in connection with the business of Company, Metaldyne or any of their
        respective subsidiaries.

       

      (e)
          It
        is
        expressly understood and agreed that although Executive and Company consider
        the
        restrictions contained in this Section 11 to be reasonable, if a final judicial
        determination is made by a court of competent jurisdiction that the time
        or
        territory or any other restriction contained in this Agreement is an
        unenforceable restriction against Executive, the provisions of this Agreement
        shall not be rendered void but shall be deemed amended to apply as to such
        maximum time and territory and to such maximum extent as such court may
        judicially determine or indicate to be enforceable. Alternatively, if any
        tribunal of competent jurisdiction finds that any restriction contained in
        this
        Agreement is unenforceable, and such restriction cannot be amended so as
        to make
        it enforceable, such finding shall not affect the enforceability of any of
        the
        other restrictions contained herein.

       

      (f)
          As
        a
        condition to the receipt of any benefits described in this Agreement, Executive
        shall be required to execute an agreement pursuant to which Executive releases
        any claims he may have against Company, Metaldyne or any of their respective
        subsidiaries and agrees to the continuing enforceability of the restrictive
        covenants of this Agreement.

       

      (g)
          This
        Section 11 will survive the termination of the Term of Employment and the
        termination of this Agreement.

       

      
        
          

           

          
          

        

        
          12

          
            

          

        

        
          
          

           

        

      

      

       

      SECTION
        12.   Remedies.
        Executive acknowledges and agrees that Company’s remedies at law for a breach or
        threatened breach of any of the provisions of Section 11 would be inadequate
        and, in recognition of this fact, Executive agrees that, in the event of
        such a
        breach or threatened breach, in addition to any remedies at law, Executive
        shall
        forfeit all payments otherwise due under this Agreement and shall return
        any
        Severance Package payment made. Moreover, Company, without posting any bond,
        shall be entitled to seek equitable relief in the form of specific performance,
        temporary restraining order, temporary or permanent injunction or any other
        equitable remedy which may then be available.

       

      SECTION
        13.   Survivorship.
        The
        respective rights and obligations of the parties hereunder shall survive
        any
        termination of this Agreement to the extent necessary to the intended
        preservation of such rights and obligations. The provisions of this Section
        13
        are in addition to the survivorship provisions of any other section of this
        Agreement.

       

      SECTION
        14.   Governing
        Law; Revenue and Jurisdiction.
        If any
        judicial or administrative proceeding or claim relating to or pertaining
        to this
        Agreement is initiated by either party hereto, such proceeding or claim shall
        and must be filed in a state or federal court located in Wayne County, Michigan
        and such proceeding or claim shall be governed by and construed under Michigan
        law, without regard to conflict of law and principals.

       

      SECTION
        15.   Dispute
        Resolution.
        Except
        with respect to enforcement actions brought under Section 12, any dispute
        related to or arising under this Agreement shall be resolved in accordance
        with
        the Metaldyne Dispute Resolution Policy in effect at the time such dispute
        arises. The Metaldyne Dispute Resolution Policy in effect at the time of
        this
        Agreement is attached to this Agreement.

       

      SECTION
        16.   Effect
        on Prior Agreements.
        This
        Agreement contains the entire understanding between the parties hereto and
        supersedes in all respects any prior or other agreement or understanding,
        both
        written and oral, between Company, Metaldyne, any affiliate of Company or
        Metaldyne, any predecessor of Company or Metaldyne or any affiliate of any
        such
        predecessor and Executive, including the Original Employment Agreement;
provided
        that
        this Agreement shall have no force or effect, and the Original Employment
        Agreement shall remain in effect, unless and until the Effective Time occurs.
        

       

      SECTION
        17.   Withholding.
        Company
        shall be entitled to withhold from payment any amount of withholding required
        by
        law.

       

      SECTION
        18.   Section
        Headings and Construction.
        The
        headings of sections in this Agreement are provided for convenience only
        and
        will not affect its construction or interpretation. 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 will be construed
        to be of such gender or number as circumstances require.

       

      SECTION
        19.   Counterparts.
        This
        Agreement may be executed in one (1) or more counterparts, each of which
        will be
        deemed to be an original copy of this Agreement and all of which, when taken
        together, will be deemed to constitute one and the same Agreement.

       

      

       

      
        
          
            

             

          

          
          

        

        
          13

          
            

          

        

        
          
          

          
             

          

        

      

      Intending
        to be legally bound hereby, the parties have executed this Agreement on the
        dates set forth next to their names below.

       

      
        

          
            	
                    August
                      31, 2006

                  	
                    ASAHI
                      TEC CORPORATION,

                  
	 	 
	 	
                       
                      by  /s/ Akira Nakamura                

                            
                       Name:  Akira Nakamura

                             
                      Title:    President and Chief Executive
                      Officer

                  
	 	 
	 	 
	 	 
	 	 
	
                    August
                      31, 2006

                  	
                    JEFFREY
                      STAFEIL,

                  
	 	 
	 	
                       
                      by  /s/ Jeffrey StafeilExhibit 10.3 - Employment Agreement between Asahi Tec and Thomas Amato

    Exhibit
      10.3

    

    EMPLOYMENT
      AGREEMENT BETWEEN ASAHI TEC CORPORATION AND THOMAS AMATO

     

    This
      Agreement is made by and between Asahi Tec Corporation, a Japanese corporation
      (“Company”),
      and
      Thomas A. Amato (“Executive”),
      effective as of the Effective Time (as defined in the Agreement and Plan of
      Merger, dated as of August 31, 2006, among Company, Argon Acquisition Corp.
      and
      Metaldyne Corporation (“Metaldyne”)
      (the
“Merger
      Agreement”))
      (hereinafter, the “Effective
      Date”).
      This
      Agreement replaces and supercedes the Employment Agreement between Metaldyne
      and
      Executive with an Effective Date of September 1, 2001, as amended effective
      as of September 10, 2004 (as so amended, the “Original
      Employment Agreement”).
      In
      order to induce Executive to be employed as described herein, Company enters
      into this Agreement with Executive to set out the terms and conditions that
      will
      apply to Executive’s employment. Executive is willing to accept such employment
      and assignment and to perform services on the terms and conditions hereinafter
      set forth. It is therefore hereby agreed by and between the parties as
      follows:

    

    SECTION
      1.
  Employment. (a)
      Company
      agrees to (i) employ Executive, and shall appoint Executive, as a Business
      Development Officer (for clarification, such position shall be shikko-yaku
      (executive officer) under the Japanese Corporation Act), (ii) cause Metaldyne
      to
      continue to employ Executive as its Executive Vice President of Commercial
      Operations and (iii) appoint Executive as a director of Company, subject to
      shareholder approval. In his capacity as Business Development Officer of
      Company, Executive shall have duties commensurate with his position as directed
      from time to time by the Co-Chairmen of Company (the “Chairmen”) and shall
      report to the Chairmen. In his capacity as Executive Vice President of
      Commercial Operations of Metaldyne, Executive shall have duties commensurate
      with his position as directed from time to time by the Chief Executive Officer
      of Metaldyne (the “Metaldyne CEO”) and shall report to the Metaldyne CEO.
      Executive accepts employment in accordance with this Agreement and agrees to
      devote his full business time and efforts to the performance of his duties
      and
      responsibilities hereunder, subject at all times to review and control of the
      Chairmen and the Metaldyne CEO, as applicable. During the Term of Employment
      (as
      defined below), Executive also agrees to serve, if elected, as an officer or
      director, or both, of Company or any subsidiary, limited liability company
      or
      other business entity of which Company or Metaldyne holds at least a fifty
      percent (50%) ownership interest, without the payment of any additional
      compensation therefor, provided
      that if
      Executive serves as an officer or director of Company or any such subsidiary,
      limited liability company or other business entity, Executive shall be entitled
      to the same director and officer liability protections as the other officers
      or
      directors, as applicable, of Company or such subsidiary, limited liability
      company or other business entity.

     

    (b)
        Nothing
      in
      this Agreement shall preclude Executive from engaging in charitable and
      community affairs, from managing any passive investment (i.e., an investment
      with respect to which Executive is in no way involved with the management or
      operation of the entity in which Executive has invested) made by him in publicly
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    traded
      equity securities or other property (provided that no such investment may exceed
      five percent (5%) of the equity of any entity, without the prior approval of
      the
      Board of Directors of Company (the “Board”))
      or
      from serving, subject to the prior approval of the Board, as a member of boards
      of directors or as a trustee of any other corporation, association or entity,
      to
      the extent that any of the above activities do not conflict with any provision
      of this Agreement.

     

    (c)
        During
      the
      Term of Employment, Executive’s principal place of employment shall be at such
      location or locations as determined from time to time by agreement of the
      Chairmen and Executive, consistent with the needs of Company and Metaldyne
      and
      as required in connection with the performance of Executive’s duties and
      responsibilities hereunder; provided
      that
      Executive may be required to spend up to 50% of his business time in Japan
      as
      required in connection with the performance of his duties and responsibilities;
      provided,
      however,
      that
      Executive shall not be required to establish a permanent residence in Japan
      unless otherwise mutually agreed by Company and Executive. Executive
      acknowledges that his duties and responsibilities hereunder shall require him
      to
      travel on business, including to Japan, to the extent necessary to perform
      such
      duties and responsibilities.

     

    (d)
        Effective
      as of the Effective Time, this Agreement shall become effective and the parties
      hereto shall be bound hereby and the Original Employment Agreement shall
      terminate and have no further force or effect. Without limiting the generality
      of the foregoing, Executive shall not be entitled to, and Company and Metaldyne
      shall have no obligation to provide, any payments, benefits, gross-ups or other
      entitlements pursuant to Sections 6(d) or 8 of the Original Employment
      Agreement.

     

    (e)
        For
      the
      avoidance of doubt, Executive acknowledges and agrees that, during the Term
      of
      Employment, he is not an “employee” of the Company for purposes of the Labor
      Standard Law of Japan and as such he does not have the rights of an “employee”
for purposes of the Labor Standard Law of Japan.

     

    SECTION
      2.
  Term
      of
      Employment.
      The term
      of Executive’s employment under this Agreement (“Term
      of
      Employment”)
      shall
      commence on the Effective Date and, subject to the terms hereof, shall terminate
      on the earlier of the fifth anniversary of the Effective Date (“Initial
      Period”)
      and the
      date that either party terminates Executive’s employment under this Agreement;
provided
      that the
      Term of Employment shall automatically renew on the fifth anniversary of the
      Effective Date and on each subsequent anniversary thereof for one year
      (“Renewal
      Period”),
      unless
      either party terminates Executive’s employment or Company delivers to Executive
      or Executive delivers to Company written notice at least 180 days in advance
      of
      the expiration of the Initial Period or any Renewal Period that the Term of
      Employment shall not be extended, in which case the Term of Employment shall
      end
      at the end of the Initial Period or the Renewal Period in which such notice
      was
      delivered and shall not be further extended except by written agreement of
      Company and Executive. The expiration of the Term of Employment under this
      Agreement shall not be a termination of this Agreement to the extent that other
      provisions of this Agreement by their terms survive the Term of Employment.
      At
      the expiration of the Term of Employment, Executive shall resign from

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    all
      employment and director positions with Company, Metaldyne and their subsidiaries
      and affiliates, unless otherwise requested by Company.

     

    SECTION
      3.
  Compensation.

     

    (a)
        Salary.
      As of the
      Effective Date, Company or Metaldyne shall pay Executive, for all services
      rendered hereunder, at the rate of Three Hundred Fifty-seven Thousand Five
      Hundred Dollars ($357,500) per annum (“Base
      Salary”).
      Base
      Salary shall be payable in accordance with the ordinary payroll practices of
      Company and shall be subject to all applicable federal, state and local
      withholding and reporting requirements.

     

    (b)
        Metaldyne
      Annual Value Creation Plan (“AVCP”).
      During
      the Term of Employment, Executive shall continue to be eligible to participate
      in the AVCP, a copy of which has been provided to Executive, subject to all
      the
      terms and conditions of such plan, as such plan may be modified from time to
      time. For purposes of the 2006 AVCP, Executive’s award shall be subject to the
      terms of any communication previously provided by Metaldyne to Executive
      regarding Executive’s participation in the AVCP. For purposes of the AVCP for
      Company’s subsequent fiscal years, Executive’s target bonus opportunity shall be
      60% of Base Salary, which shall be payable based on achievement of a
      consolidated business plan that reflects both Company’s and Metaldyne’s
      performance, subject to such other terms and conditions as the Board may
      establish from time to time.

     

    (c)
        Special
      Bonus.
      On the
      Effective Date, Company shall pay Executive a one-time bonus consisting of
      (i)
      $400,000 in cash and (ii) a number of fully vested shares of common stock of
      Company with an aggregate value of $400,000, based on the Purchase Price (as
      defined in the Parent Stock Purchase Agreement (as defined in the Merger
      Agreement)). Executive shall be responsible for the payment of all taxes
      required to be deducted or withheld or otherwise paid with respect to such
      bonus.

     

    SECTION
      4.
  Employee
      Benefits. 

     

    (a)
        Employee
      Retirement Benefit Programs, Welfare Benefit Programs, Plans and
      Practices.
      Company
      and Metaldyne shall provide Executive with retirement and welfare benefits
      that
      are commensurate with current levels.

     

    (b)
        Vacation.
      During
      the Term of Employment, Executive shall be entitled to twenty (20) business
      days
      of paid vacation each calendar year, which shall be taken at such times as
      are
      consistent with Executive’s responsibilities hereunder. Vacation days shall be
      subject to Company’s and Metaldyne’s general policies regarding vacation days,
      as such policies may be modified from time to time.

     

    (c)
        Executive
      Vehicle Program.
      During
      Metaldyne’s 2006 fiscal year and, subject to review and approval by the
      Compensation Committee of the Board (the “Compensation
      Committee”),
      during
      the remainder of the Term of Employment, Executive shall be entitled to
      participate in Metaldyne’s Executive Vehicle Program, as such program exists on
      the date of this Agreement. Executive acknowledges that some 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    portion
      of
      his personal use of the automobile will represent additional personal income
      to
      him and will be reported to him as such.

     

    (d)
        Stock
      Options.
      All stock
      options with respect to Metaldyne stock that Executive holds as of the Effective
      Date shall be treated in the manner provided in the Merger Agreement;
provided
      that
      Executive acknowledges and agrees that (i) each of his Metaldyne Options will,
      in accordance with the Merger Agreement and the terms of the 2001 Long Term
      Equity Incentive Plan, be converted on the Effective Date into a right to
      receive the excess, if any, of the Common Merger Consideration (as defined
      in
      the Merger Agreement) over the exercise price per share of Metaldyne common
      stock subject to such Metaldyne Option, and (ii) both before and after the
      adjustment of the exercise price of each of his Metaldyne Options to reflect
      the
      decrease in the fair market value of Metaldyne common stock as a result of
      the
      distribution of all the TriMas shares held by Metaldyne to its shareholders,
      as
      provided for in the Merger Agreement, the excess referred to in clause 4(d)(i)
      will be $0. Accordingly, Executive agrees that, contingent on the Closing (as
      defined in the Merger Agreement) and effective on the Effective Date, each
      of
      his Metaldyne Options will be cancelled and Executive will not, at any time,
      be
      entitled to any payment in respect of, or arising out of, such cancellation
      and
      he will not otherwise have any right or claim relating in any way to, or arising
      out of, any of his Metaldyne Options. In addition, on the Effective Date,
      Executive shall be granted stock options with respect to Company common stock
      in
      an amount and subject to the terms set forth in the Merger Agreement and the
      schedules thereto. 

     

    SECTION
      5.
  Expenses.
      Subject
      to prevailing Company policy or such guidelines as may be established by the
      Board, Company will reimburse Executive for all reasonable expenses incurred
      by
      Executive in carrying out his duties.

     

    SECTION
      6.
  Termination
      of Employment.
      Executive’s employment during or after the Term of Employment shall be
      terminable at will by either party at any time for any reason; provided
      that any
      termination of employment, whether by Company or Executive, shall apply to
      Executive’s employment with both Company and Metaldyne.

     

    (a)
        Termination
      Without Cause or for Good Reason.
      If Executive’s employment is terminated during the Term of Employment (i)
      by Company for any reason other than Cause (as defined in Section 6(c) hereof),
      Disability (as defined in Section 6(d) hereof) or death or (ii) by
      Executive for Good Reason (as defined in Section 6(a)(ii) hereof), then, in
      each
      case, Company shall pay Executive the Severance Package. A termination by
      Executive without Good Reason, or with Good Reason prior to the first
      anniversary of the Effective Date, shall be deemed to be a termination under
      Section 6(b) below and not a termination under this Section 6(a).

     

    (i)
        For
      purposes of this Agreement, “Severance
      Package”
shall
      mean:

     

    (A)
        Base
      Salary continuation for twelve (12) months (the “Severance
      Period”)
      at
      Executive’s annual Base Salary rate in effect on the date of termination,
      subject to all applicable federal, state and local withholding and reporting
      requirements. These salary continuation 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    payments
      shall be paid in accordance with usual Company payroll practices;

     

    (B)
        A
      bonus
      equal to one hundred percent (100%) of the target bonus opportunity under AVCP,
      payable in equal installments over the Severance Period, subject to the same
      withholding and reporting requirements described in Section 6(a)(i)(A). In
      addition, Executive shall receive the bonus for the most recently completed
      bonus term if a bonus has been earned and declared for such term but not paid,
      which bonus shall be paid in accordance with customary practices for payment
      of
      bonuses under AVCP; and

     

    (C)
        Continuation
      of benefits under any life, group health, and dental insurance benefits
      substantially similar to those which Executive was receiving immediately prior
      to termination of employment until the earlier of:

     

    (1)
        the
      end of
      the Severance Period and

     

    (2)
        the
      date
      on which Executive becomes eligible to receive any benefits under any plan
      or
      program of any other employer.

     

    The
      continuing coverage provided under this Section 6(a)(i)(C) is subject to
      Executive’s eligibility to participate in such plans and all other terms and
      conditions of such plans, including Company’s and Metaldyne’s ability to modify
      or terminate such plans or coverages. Company may satisfy this obligation in
      whole or in part by paying the premium otherwise payable by Executive for
      continuing coverage under Section 601 et seq. of the Employee Retirement Income
      Security Act of 1974, as it may be amended or replaced from time to time, or
      under any similar provision of non-United States law. If Executive is not
      eligible for continued coverage under one of the benefit plans noted in this
      paragraph (C) that he was participating in during his employment, Company shall
      pay Executive the cash equivalent of the insurance cost for the duration of
      the
      applicable period at the rate of Company’s or Metaldyne’s cost of coverage for
      Executive’s benefits as of the date of termination. Any obligation to pay the
      cash equivalent of such cost under this item may be settled, at Company’s
      discretion, by a lump-sum payment of any remaining premiums.

     

    (ii)
        For
      purposes of this Agreement, a termination of employment by Executive for
“Good
      Reason”
shall
      be
      a termination by Executive following the occurrence of any of the following
      events unless Company has cured as provided below:

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

     

    (A)
        Removal
      from the position of Business Development Officer of Company or Executive Vice
      President of Commercial Operations of Metaldyne (other than as a result of
      a
      promotion or change in position which is not material);

     

    (B)
        Any
      material and permanent diminution in Executive's duties or responsibilities
      hereunder as set forth in Section 1(a);

     

    (C)
        A
      material
      reduction in the aggregate value of Base Salary or bonus opportunity or a
      material and permanent reduction in the aggregate value of other benefits
      provided to Executive by Company and Metaldyne; or

     

    (D)
        A
      permanent reassignment of Executive, without his advance written consent, to
      another primary office, or a relocation of the office that is Executive’s
      primary office as of the Effective Date, unless Executive’s primary office
      following such reassignment or relocation is within a thirty-five (35) mile
      radius of Executive’s primary office before the reassignment or relocation or
      Executive’s permanent residence on the date of the reassignment or relocation;
provided
      that no
      such reassignment or relocation shall be deemed to have occurred as a result
      of
      Executive’s travel to and from, or provision of services in, Japan in accordance
      with Section 1(c).

     

    Executive
      must notify Company of any event constituting Good Reason within one hundred
      twenty (120) days after Executive becomes aware of such event or such event
      shall not constitute Good Reason for purposes of this Agreement, provided that
      Company shall have fifteen (15) days from the date of such notice to cure the
      Good Reason event. Executive cannot terminate his employment for Good Reason
      if
      Cause exists at the time of such termination. A termination by Executive
      following cure shall not be a termination for Good Reason. A failure of
      Executive to notify Company after the first occurrence of an event constituting
      Good Reason shall not preclude any subsequent occurrences of such event (or
      similar event) from constituting Good Reason.

     

    (b)
        Voluntary
      Termination by Executive; Nonrenewal of Agreement.
      If
      Executive terminates his employment with Company without Good Reason during
      or
      after the Term of Employment, or if the Term of Employment expires following
      notice of nonrenewal by either party under Section 2, then Company shall
      pay Executive his accrued unpaid Base Salary through the date of termination
      and
      the AVCP award for the most recently completed year if an award has been earned
      and declared for such year but not paid. The accrued unpaid Base Salary amounts
      payable under this Section 6(b) shall be payable in a lump sum within ten (10)
      days of termination of employment. Any accrued unpaid bonus amounts payable
      under this Section 6(b) shall be payable in accordance with customary practices
      for payment of bonuses under AVCP. No prorated bonus for the year of termination
      shall be paid. Any other benefits under other plans and programs of Company
      or
      Metaldyne in which Executive is participating at the time of 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    Executive’s
      termination of employment shall be paid, distributed or settled, or shall
      expire, in each case in accordance with their terms, and Company and Metaldyne
      shall have no further obligations hereunder with respect to Executive following
      the date of termination of employment.

     

    (c)
        Termination
      for Cause.
      If
      Executive’s employment is terminated for Cause, Company shall pay Executive his
      accrued but unpaid Base Salary through the date of the termination of
      employment, and no further payments or benefits shall be owed. The accrued
      unpaid Base Salary amounts payable under this Section 6(c) shall be payable
      in a
      lump sum within ten (10) days of termination of employment. As used herein,
      the
      term “Cause”
shall
      be
      limited to:

     

    (i)
        Executive’s
      conviction of or plea of guilty or nolo contendere to a crime constituting
      a
      felony under the laws of the United States or any state thereof, a crime under
      Japanese law with respect to which imprisonment is the minimum prescribed
      penalty or any similar crime in any other jurisdiction in which Company or
      Metaldyne conducts business;

     

    (ii)
        Executive’s
      willful misconduct in the performance of his duties hereunder;

     

    (iii)
        Executive’s
      willful and continued failure to follow the reasonable and lawful instructions
      of the Chairmen, the Metaldyne CEO or the Board; or

     

    (iv)
        Executive’s
      willful and/or continued neglect of duties (other than any such neglect
      resulting from incapacity of Executive due to physical or mental
      illness);

     

    provided,
      however,
      that
      Cause shall arise under items (iii) or (iv) only following ten (10) days’
written notice thereof from Company which specifically identifies such failure
      or neglect and the continuance of such failure or neglect during such notice
      period. Any failure by Company to notify Executive after the first occurrence
      of
      an event constituting Cause shall not preclude any subsequent occurrences of
      such event (or a similar event) from constituting Cause.

     

    (d)
        Disability.
      In the
      event that Executive is unable to perform his duties during the Term of
      Employment on account of a disability which continues for one hundred eighty
      (180) consecutive days or more, or for an aggregate of one hundred eighty (180)
      days in any period of twelve (12) months, Company may, in its discretion,
      terminate Executive’s employment hereunder. Company’s obligation to make
      payments under this Agreement shall, except for earned but unpaid Base Salary
      and earned and declared but unpaid AVCP awards and the payment described in
      the
      next sentence, cease on the first to occur of (i) the date that is six (6)
      months after such termination or (ii) the date Executive becomes entitled to
      benefits under a long-term disability program of Company or Metaldyne. For
      purposes of this Agreement, “Disability”
shall
      be
      defined by the terms of Metaldyne’s long-term disability policy, or, in the
      absence of such policy, as a physical or mental disability that prevents
      Executive from performing substantially 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    all
      of his
      duties under this Agreement and which is expected to be permanent. Company
      may
      only terminate Executive on account of Disability after giving due consideration
      to whether reasonable accommodations can be made under which Executive is able
      to fulfill his duties under this Agreement. The commencement date and expected
      duration of any physical or mental condition that prevents Executive from
      performing his duties hereunder shall be determined by a medical doctor selected
      by Company. Company may, in its discretion, require written confirmation from
      a
      physician of Disability during any extended absence.

     

    (e)
        Death.
      In the
      event of Executive’s death during the Term of Employment, all obligations of
      Company to make any further payments, other than an obligation to pay any
      accrued but unpaid Base Salary to the date of death and any earned and declared
      but unpaid bonuses under AVCP to the date of death and the payment described
      in
      the next sentence, shall terminate upon Executive’s death. 

     

    (f)
        No
      Duplication of Benefits.
      Notwithstanding any provision of this Agreement to the contrary, if Executive’s
      employment is terminated for any reason, in no event shall Executive be eligible
      for payments under more than one subsection of this Section 6.

     

    (g)
        Payments
      Not Compensation.
      Any
      participation by Executive in, and any terminating distributions and vested
      rights under, retirement or savings plans, regardless of whether such plans
      are
      qualified or nonqualified for tax purposes, shall be governed by the terms
      of
      those respective plans. For purposes of determining benefits and the amounts
      to
      be paid to Executive under such plans, any salary continuation or severance
      benefits other than salary or bonus accrued before termination shall not be
      compensation for purposes of accruing additional benefits under such
      plans.

     

    (h)
        Executive’s
      Duty to Provide Materials.
      Upon the
      termination of Executive’s employment for any reason, Executive or his estate
      shall surrender to Company all correspondence, letters, files, contracts,
      mailing lists, customer lists, advertising material, ledgers, supplies,
      equipment, checks and all other materials and records of any kind that are
      the
      property of Company or any of its subsidiaries or affiliates, that may be in
      Executive’s possession or under his control, including all copies of any of the
      foregoing.

     

    SECTION
      7.
  Notices.
      All
      notices or communications hereunder shall be in writing, addressed as
      follows:

     

    
      	
              To
                Company:

            	
              Asahi
                Tec Corporations

              547-1
                Horinouchi, Kikugawa City,

              Shizuoka
                439-8651, Japan

              Fax:
                81-537-36-4160

              Attention:
                Suguru Kimura

            

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    
      	
              with
                a copy to: 

            	
              Anderson
                Mori & Tomotsune

              Izumi
                Garden Tower

              1-6-1,
                Roppongi, Minato-ku,

              Tokyo
                106-6036, Japan

              Fax:
                (03) 6888-3067

              Attention:
                Noritaka Niwano, Esq.

               

            
	
              To
                Executive: 

            	
              Thomas
                A. Amato

            

    

    

    Any
      such
      notice or communication shall be delivered by hand or by courier or sent
      certified or registered mail, return receipt requested, postage prepaid,
      addressed as above (or to such other address as such party may designate in
      a
      notice duly delivered as described above), and the third (3rd) business day
      after the actual date of mailing shall constitute the time at which notice
      was
      given.

     

    SECTION
      8.
  Separability;
      Legal Fees.
      If any
      provision of this Agreement shall be declared to be invalid or unenforceable,
      in
      whole or in part, such invalidity or unenforceability shall not affect the
      remaining provisions hereof which shall remain in full force and effect. In
      the
      event of a dispute by Company, Executive or others as to the validity or
      enforceability of, or liability under, any provision of this Agreement, Company
      shall reimburse Executive for all reasonable legal fees and expenses incurred
      by
      him in connection with such dispute if Executive substantially prevails in
      the
      dispute, but in all other cases Executive shall be responsible for such fees
      and
      expenses.

     

    SECTION
      9.
  Assignment
      and Assumption.
      This
      contract shall be binding upon and inure to the benefit of the heirs and
      representatives of Executive and the assigns and successors of Company, but
      neither this Agreement nor any rights or obligations hereunder shall be
      assignable or otherwise subject to hypothecation by Executive (except by will
      or
      by operation of the laws of intestate succession) or by Company, except that
      Company may assign this Agreement to any successor (whether by merger, purchase
      or otherwise) to all or substantially all of the stock, assets or business
      of
      Company.

     

    SECTION
      10.   Amendment.
      This
      Agreement may only be amended by written agreement of the parties
      hereto.

     

    SECTION
      11.   Non-Competition;
      Non-Solicitation; Confidentiality. (a)
      Executive
      represents that acceptance of employment under this Agreement and performance
      under this Agreement are not in violation of any restrictions or covenants
      under
      the terms of any other agreements to which Executive is a party.

     

    (b)
        Executive
      acknowledges and recognizes the highly competitive nature of the business of
      Company and accordingly agrees that, in consideration of this Agreement, the
      rights conferred hereunder, and any payment hereunder, Executive shall not
      engage, either directly or indirectly, as a principal for Executive’s own
      account or jointly with others, or as a stockholder in any corporation or joint
      stock association, or as 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    a
      partner
      or member of a general or limited liability entity, or as an employee, officer,
      director, agent, consultant or in any other advisory capacity, while employed
      by
      Company and for the six-month period following the termination of Executive’s
      employment for any reason (“Non-Compete
      Term”),
      in any
      business (other than Company, Metaldyne or their respective subsidiaries) which
      designs, develops, manufactures, distributes, sells or markets the type of
      products or services sold, distributed or provided by Company, Metaldyne or
      any
      of their respective subsidiaries during the two (2) year period prior to the
      date of termination of Executive’s employment (the “Business”).

     

    Nothing
      herein shall prevent Executive from owning, directly or indirectly, not more
      than five percent (5%) of the outstanding shares of, or any other equity
      interest in, any entity engaged in the Business and listed or traded on a
      national securities exchange or in an over-the-counter securities
      market.

     

    (c)
        During
      the
      Non-Compete Term, Executive shall not (i) directly or indirectly employ, solicit
      or receive or accept the performance of services by, any active employee of
      Company, Metaldyne or any of their respective subsidiaries who is employed
      primarily in connection with the Business, except in connection with general,
      non-targeted recruitment efforts such as advertisements and job listings, or
      directly or indirectly induce any employee of Company, Metaldyne or any of
      their
      respective subsidiaries to leave Company, Metaldyne or any of their respective
      subsidiaries, or assist in any of the foregoing, or (ii) solicit for any
      business that is engaged in the Business any person who is a customer or former
      customer of Company, Metaldyne or any of their respective subsidiaries, unless
      such person shall have ceased to have been such a customer for a period of
      at
      least six (6) months.

     

    (d)
        Executive
      shall not at any time (whether during or after his employment with Company)
      disclose or use for Executive’s own benefit or purposes or the benefit or
      purposes of any other person, firm, partnership, joint venture, association,
      corporation or other business organization, entity or enterprise other than
      Company, Metaldyne or any of their respective subsidiaries, any trade secrets,
      information, data or other confidential information of Company, Metaldyne or
      any
      of their respective Subsidiaries, including but not limited to information
      relating to customers, development programs, costs, marketing, trading,
      investment, sales activities, promotion, credit and financial data, financing
      methods, plans or the business and affairs of Company, Metaldyne or any of
      their
      respective subsidiaries generally, unless required to do so by applicable law
      or
      court order, subpoena or decree or otherwise required by law, with reasonable
      evidence of such determination promptly provided to Company. The preceding
      sentence of this paragraph (d) shall not apply to information which is not
      unique to Company, Metaldyne or any of their respective subsidiaries or which
      is
      generally known to the industry or the public other than as a result of
      Executive’s breach of this covenant. Executive agrees that upon termination of
      employment with Company for any reason, Executive will return to Company
      immediately all memoranda, books, papers, plans, information, letters and other
      data, and all copies thereof or therefrom, in any way relating to the business
      of Company, Metaldyne or any of their respective subsidiaries, except that
      Executive may retain personal notes, notebooks and diaries. 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    Executive
      further agrees that Executive will not retain or use for Executive’s account at
      any time any trade names, trademark or other proprietary business designation
      used or owned in connection with the business of Company, Metaldyne or any
      of
      their respective subsidiaries.

     

    (e)
        It
      is
      expressly understood and agreed that although Executive and Company consider
      the
      restrictions contained in this Section 11 to be reasonable, if a final judicial
      determination is made by a court of competent jurisdiction that the time or
      territory or any other restriction contained in this Agreement is an
      unenforceable restriction against Executive, the provisions of this Agreement
      shall not be rendered void but shall be deemed amended to apply as to such
      maximum time and territory and to such maximum extent as such court may
      judicially determine or indicate to be enforceable. Alternatively, if any
      tribunal of competent jurisdiction finds that any restriction contained in
      this
      Agreement is unenforceable, and such restriction cannot be amended so as to
      make
      it enforceable, such finding shall not affect the enforceability of any of
      the
      other restrictions contained herein.

     

    (f)
        As
      a
      condition to the receipt of any benefits described in this Agreement, Executive
      shall be required to execute an agreement pursuant to which Executive releases
      any claims he may have against Company, Metaldyne or any of their respective
      subsidiaries and agrees to the continuing enforceability of the restrictive
      covenants of this Agreement.

     

    (g)
        This
      Section 11 will survive the termination of the Term of Employment and the
      termination of this Agreement.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    

     

    SECTION
      12.   Remedies.
      Executive
      acknowledges and agrees that Company’s remedies at law for a breach or
      threatened breach of any of the provisions of Section 11 would be inadequate
      and, in recognition of this fact, Executive agrees that, in the event of such
      a
      breach or threatened breach, in addition to any remedies at law, Executive
      shall
      forfeit all payments otherwise due under this Agreement and shall return any
      Severance Package payment made. Moreover, Company, without posting any bond,
      shall be entitled to seek equitable relief in the form of specific performance,
      temporary restraining order, temporary or permanent injunction or any other
      equitable remedy which may then be available.

     

    SECTION
      13.   Survivorship.
      The
      respective rights and obligations of the parties hereunder shall survive any
      termination of this Agreement to the extent necessary to the intended
      preservation of such rights and obligations. The provisions of this Section
      13
      are in addition to the survivorship provisions of any other section of this
      Agreement.

     

    SECTION
      14.   Governing
      Law; Revenue and Jurisdiction.
      If any
      judicial or administrative proceeding or claim relating to or pertaining to
      this
      Agreement is initiated by either party hereto, such proceeding or claim shall
      and must be filed in a state or federal court located in Wayne County, Michigan
      and such proceeding or claim shall be governed by and construed under Michigan
      law, without regard to conflict of law and principals.

     

    SECTION
      15.   Dispute
      Resolution.
      Except
      with respect to enforcement actions brought under Section 12, any dispute
      related to or arising under this Agreement shall be resolved in accordance
      with
      the Metaldyne Dispute Resolution Policy in effect at the time such dispute
      arises. The Metaldyne Dispute Resolution Policy in effect at the time of this
      Agreement is attached to this Agreement.

     

    SECTION
      16.   Effect
      on Prior Agreements.
      This
      Agreement contains the entire understanding between the parties hereto and
      supersedes in all respects any prior or other agreement or understanding, both
      written and oral, between Company, Metaldyne, any affiliate of Company or
      Metaldyne, any predecessor of Company or Metaldyne or any affiliate of any
      such
      predecessor and Executive, including the Original Employment Agreement;
provided
      that this
      Agreement shall have no force or effect, and the Original Employment Agreement
      shall remain in effect, unless and until the Effective Time occurs.

     

    SECTION
      17.   Withholding.
      Company
      shall be entitled to withhold from payment any amount of withholding required
      by
      law.

     

    SECTION
      18.   Section
      Headings and Construction.
      The
      headings of sections in this Agreement are provided for convenience only and
      will not affect its construction or interpretation. 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 will be construed
      to be of such gender or number as circumstances require.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    

     

    SECTION
      19.   Counterparts.
      This
      Agreement may be executed in one (1) or more counterparts, each of which will
      be
      deemed to be an original copy of this Agreement and all of which, when taken
      together, will be deemed to constitute one and the same Agreement.

     

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    Intending
      to be legally bound hereby, the parties have executed this Agreement on the
      dates set forth next to their names below.

     

    
      

        
          	
                  August
                    31, 2006

                	
                  ASAHI
                    TEC CORPORATION,

                
	 	 
	 	
                     
                    by  /s/ Akira Nakamura                

                          
                     Name:  Akira Nakamura

                           
                    Title:    President and Chief Executive
                    Officer

                
	 	 
	 	 
	 	 
	 	 
	
                  August
                    31, 2006

                	
                  THOMAS
                    AMATO,

                
	 	 
	 	
                     
                    by  /s/ Thomas Amato

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