Document:

Exhibit 10.11

 

Management Service
Agreement

Between

Kachele-Cama Latex GmbH, Eichenzell,

- in the following “the Company” -

represented by the Chairman of the Advisory Board,

Dr. K-H Schneider-Gadicke

And

Dipl. Economist VoIker Laitsch

Leerstetter Strasse 48, 90530 Wendelstein

The following is agreed:

§ 1: Appointment as Managing Director

 

The shareholders’ meeting of the Company - represented
by the members ofthl;? advisory board - have appointed Dipl. Economist Volker
Laitsch with effect as of 1. July 1994 as managing director. He shall have sole
right of representation. as long as no second managing director is appointed.

§ 2: Area of Responsibility and Duties

 

1.  Mr. Laitsch conducts the business of the
Company according to the law, the articles of the Company and the management
procedure rules in an up-dated version.

Mr. Laitsch undertakes to use his full knowledge,
expertise and power solely for the Company’s business purposes, with initiative
and responsibility.

Any paid sideline work requires the consent of the
Company, issued by the advisory board. Other sideline work may not interfere
with his duties to the Company. Publications and Speeches are permitted, as
long as the interests of the Company do not require otherwise.

The Chairman of the advisory board may assign the
managing director unpaid sideline work in the interests of the Company.

For the duration
of the employment, the managing director may not conduct business on his or
third party accounts in the same or similar business areas as that of the
Company. He is also prohibited from participating directly or indirectly in
another company, which is active in these business areas, nor may he act for
such a company or support its business in any way.

 

 

2. Mr.
Laitsch will take up officer positions in companies, in which the Company
directly or indirectly holds interests, as well as in associations or other
organizations, in which the Company is a member due to its business activities.
Mr. Laitsch shall resign from such offices upon termination of this management
service agreement.

3. Mr.
Laitsch is entitled to represent the Company solely as long as no second
managing director is appointed.

4. Mr.
Laitsch shall be bound to the instructions of the advisory board.

5. The
managing director shall keep all affairs and matters of the Company, the
affiliated companies and the shareholders confidential vis-à-vis non-authorized
third parties. This obligation also applies after the termination of the
employment.

§ 3: Remuneration

 

1. Mr.
Laitsch shall receive a monthly gross salary of DM 18,500, due and payable at
the end of each calendar month.

The monthly salary shall be reviewed on a yearly
basis. Starting from 1/1/1995 the monthly gross salary shall increase to DM
24,000.00, applicable until 12/31/1996.

2. Mr.
Laitsch shall receive for the business year 1994 a guaranteed bonus of at least
DM 100,000.00.

Starting from 1995, Mr. Laitsch shall receive a yearly
bonus in the amount of 5 % of the annual surplus of the Company, prior to
deduction of corporate income tax and possible supplementary taxes.

The taxable income of the Company shall be increased
by

•      all bonuses that are subject to profit

•      local business tax

•      extraordinary expenditures, which the
Company has undertaken voluntarily and on the basis of a shareholders’
resolution.

It shall be reduced by

•      - assigned supervisory- and advisory board
compensation

The bonus shall be at least DM 50,000 per year.

A change in the annual surplus due to a external audit
shall have no effect on the bonus basis.

The minimum yearly
bonus is due and payable in December of the respective current year; the
remaining bonus shall be due and payable within one month after determination
of the bonus 

 

2

 

basis by the shareholders’ meeting at the latest at
the end of May of the year that follows on the respective business year.

In the event of a termination of the employment during
a business year, Mr. Laitsch shall receive a pro rata amount of the minimum
guaranteed yearly bonus.

§ 4: Remuneration in the Event of Illness,
Accident and Death

 

1. In
the case of a temporary inability to work, due to illness, accident or some
other cause that Mr. Laitsch is not responsible for, the full salary as set out
in Sec. 3 shall be paid for the duration of up to three month, but not past a
termination of the employment, taking into account any illness support received
from the competent health insurer OT interim support received from the German
Federal Employee Insurance.

In the event that Mr. Laitsch is entitled under the
law to claim damages for lost earnings for the duration of his inability to
work from a third party, he shall either on request assign these to the Company
or enforce them himself; damages received shall also be set off against the
salary.

2. In
the event of Mr. Laitsch’s death during his employment, his widow and
legitimate children under the age of 25, shall be entitled as joint
claimholders to the full salary as set out in Sec. 3 for the month of death and
the three following month.

3. The
Company shall insure Mr. Laitsch for the duration of his employment against
accident in the amount of DM 300,000 for the event of death and of DM 600,000
for the event of invalidity. ML Laitsch or his heirs shall directly be entitled
under the insurance.

4. The
Company undertakes to provide Mr. Laitsch with a company pension that shall be
irrevocable as of 7/1/1994; the company pension entitles Mr. Laitsch from the
age of 65 to a monthly pension in the amount of DM 3,500 and his wife a widow-pension
in the amount of 60% thereof.

In order to guarantee these payments, the Company
shall conclude an insurance contract with a life insurer, under which contract
the Company shall solely be entitled to the proceeds and solely obliged to make
the contributions for the duration of this employment.

To secure the claims of Mr. Laitsch and his wife under
the company pension promise, the Company shall grant them a pledge on its
claims under the insurance contract. The parties will enter a separate pledge
agreement and will notify the insurer thereof Mr. Laitsch shall be entitled to
pledge this claim in his turn.

The claims under the company pension promise are
secured according to legal requirements against insolvency of the Company.

The Company is responsible for the contribution with
regard to the insolvency insurance.

5. Mr. Laitsch agrees to
have a full medical examination each year and to report the results to the
Company.

 

3

 

6. In
the event that Mr. Laitsch should become permanently unable to work during his
employment, his employment shall terminate at the end of the calendar half year
in which the permanent inability to work has been diagnosed. A permanent
inability to work within the meaning of this agreement requires that Mr.
Laitsch is expected to be unable to perform his duties on a permanent basis due
to illness) accident or other reasons for which Mr. Laitsch is not responsible.
In the case of doubt, the permanent inability to work shall be determined by an
examination by a doctor named by the Company.

§ 5: Other Compensation

 

1. The
Company shall provide Mr. Laitsch for the duration of his employment with a
appropriate company car of superior medium. size (up to 3.5 engine volume) for
business and private use. Running and maintenance costs shall be borne by the
Company. Mr. Laitsch shall declare the value ofilie private use for tax
purposes.

2. The internal company roles, which are an integral
part of this agreement in their respective current version, shall apply to the
reimbursement of travel expenses.

3. The Company shall reimburse Mr. Laitsch for his
relocation costs for the move from Wendelstein to Fulda, as well as the agent
commission for the rental of a house or flat, if applicable.

§ 6: Vacation

 

Mr. Laitsch shall be entitled to a yearly vacation of
30 working days, which shall be taken in parts. The timing of the vacation
shall be agreed with the Chairman of the advisory board, taking into account
the business needs of the Company.

No compensation shall be due and payable for vacation
not taken.

§ 7: Effective Date

 

This agreement shall become effective as of July 1,
1994 and shall initially run until December 31, 1998.

After the end of each term, the agreement shall
automatically extend for a further term of four years if neither party has
given notice of termination at least 6 month prior to the end of a term, but no
longer than to the end of the calendar quarter in which Mr. Laitsch turns 65.

The right under the law to terminate the agreement for
cause without notice period shall remain unaffected.

A removal from the position of managing director shall
also be deemed to be a termination notice of this service agreement.

After any kind of
termination Notice, the Company shall be entitled to release Mr. Laitsch from
performing his duties.

 

4

 

Any termination notice requires the written form. A
termination notice by MI. Laitsch shall be delivered to another managing
director if such is appointed, if not, to the Chairman of the advisory board. A
termination notice by the Company shall be effected by the delivery of a
respective shareholders’ resolution by the Chairman of the advisory board per
registered mail.

Upon termination of the employment or the end of his
work for the Company, Mr. Laitsch shall deliver to the Company anything
belonging to the Company, especially books, written materials and notes. Mr.
Laitsch shall not have any right to withhold. 

§ 8: Final Provisions

 

1. The
written form is applicable to this agreement; all amendments of this agreement
also require the written form.

2. Place
of performance under this agreement shall be the business seat of the Company.

3.
Shareholders and advisory board are informed about the activities of the former
employer of Mr. Laitsch.

4. If
any individual term of this Agreement is or should become inoperative or should
any loopholes in the Agreement become apparent, the other terms shall remain
operative nonetheless. Inoperative terms are to be replaced and loopholes
filled by reasonable provisions as come as close as possible, insofar as
legally permitted) to what the parties have intended or would have intended if
they had considered this issue.

Eichenzell, December 3, 1994

	
   

  	
   

  	
   

  
	
  Volker Laitsch

  	
   

  	
  Dr. K.H. Schneider-Gadicke

  As Chairman of the advisory board

  

 

5Exhibit 10.30

 

FIRST
AMENDMENT TO

SECOND AMENDED AND RESTATED

LIMITED LIABILITY COMPANY
AGREEMENT

OF NSP HOLDINGS L.L.C.

 

This First Amendment to
Second Amended and Restated Limited Liability Company Agreement of NSP Holdings
L.L.C. (this “Amendment”) is made and entered into as of this 7th day of
January, 2005, by and among by the Members of NSP Holdings L.L.C., a
Delaware limited liability company (the “Company”).  Capitalized terms used, but not otherwise
defined, in this Amendment have the meanings given to such terms in the LLC
Agreement.

R E C I T A L S

 

WHEREAS, the Company
desires to amend that certain Second Amended and Restated Limited Liability
Company Agreement, dated as of February 26, 2004 (the “Existing LLC
Agreement”), to provide for certain distributions to certain holders of
Common Units.

WHEREAS, the LLC
Agreement may be amended in accordance with Section 15.5 of the LLC Agreement.

NOW, THEREFORE, in
consideration of the mutual promises made herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be legally bound, do hereby agree as follows:

1.0  Amendment to Section
5.1(c).   Section 5.1(c) of the LLC
Agreement is amended by adding the following at the end thereof the following
paragraph:

 

“Notwithstanding anything to the contrary set forth in this Section
5.1(c), in the event that the Notes Offering is consummated on or before
January 31, 2005, prior to any Distribution being made pursuant to any of clauses
(i) - (iv) of this Section 5.1(c), the Company shall make a one-time
special Distribution to Robert A. Peterson in respect of his Common Units in
the aggregate amount of $1,525,000 and a one-time special Distribution to David
F. Myers, Jr. in respect of his Common Units in the aggregate amount of
$975,000; provided that no Distribution shall be made to Robert A.
Peterson or David F. Myers, Jr. pursuant to this sentence, unless prior to the
date of Distribution, each such individual has delivered to the Company an
executed counterpart of his Waiver Letter.”

 

2.0   Amendment
to Section 14.1.   Section 14.1 of
the LLC Agreement is amended to add the following definitions in the
appropriate alphabetical order:

 

“Notes Offering” means the offering and sale of 11.75% Senior
Pay In Kind Notes due 2012 by the Company and one or more of its Subsidiaries.

 

 

“Waiver Letter” means that certain letter agreement between the
Company, on the one hand, and each of Robert A. Peterson and David F. Myers,
Jr., respectively, on the other hand, in each case dated on or before the date
that the Notes Offering is consummated.

 

                3.0  Effectiveness.  Pursuant to Section 15.5 of the LLC
Agreement, this Amendment will be valid, binding, and effective when amended in
accordance with Section 15.5 of the LLC Agreement.

                4.0  Continuing Effect.  Except as expressly amended or modified by
this Amendment, the provisions of the LLC Agreement will continue in full force
and effect.

                5.0  Governing Law.  This Amendment shall be governed by, and
construed in accordance with, the laws of the State of Delaware, without giving
effect to any choice of law or conflict of law rules or provisions (whether of
the State of Delaware or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Delaware.

                6.0  Counterparts.  This Amendment may be executed in one or more
counterparts (including by facsimile or electronic transmission), each of which
shall be deemed an original, and all of which shall constitute one and the same
Amendment.

                7.0  Headings.  The heading references herein are for
convenience purposes only, do not constitute a 
part of this Amendment and shall not be deemed to limit or affect any of
the provisions hereof.

[Remainder of
page intentionally left blank]

 

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