Document:

<PAGE>

MOORE(R)

                                         ROBERT G. BURTON
                                         President & Chief Executive Officer

                                         1200 Lakeside Drive
                                         Bannockburn, IL 60015
                                         Phone:  (847) 607-6144
                                         Fax:  (847) 607-7113

January 2, 2001

Mr. Thomas W. Oliva
21380 N. Middleton Drive
Kildeer, IL 60047

Dear Tom:

I am pleased to offer you, formally, the opportunity to join Moore on January 2,
2001 or as soon as possible thereafter as President of Moore North America
reporting to Bob Burton.

Summarized in the following paragraphs is our employment offer. We believe this
offer recognizes your level of career achievement and will reward you for
performance.

BASE SALARY - Your annual base salary will be $300,000 (U.S.) with equal monthly
payments being made on the twentieth of each month.

MBO INCENTIVE PLAN - You will participate in our MBO incentive program. You will
be eligible under this program to receive from 0% to 100% of your annual base
salary subject to the terms and conditions of the program. With respect to 2001,
your payout under the MBO program of 100% is guaranteed as an inducement for you
to join the company.

STOCK OPTIONS - You will also participate in the Corporate Stock Option Plan and
have a target award level consistent with the amount normally granted to
positions at your level in the organization. This plan has been developed to
maintain focus on improving long-term shareholder value by aligning executive
performance to shareholder interest. The timing of the stock option grants is
determined each year by the Board. (A copy of the Plan will be provided.) I will
recommend to the board an initial grant of 50,000 options.

<PAGE>

BENEFITS - You will be eligible to participate in the various Moore Benefit
programs based on their individual eligibility requirements.

VACATION - You are eligible for four (4) weeks vacation annually.
--------

AUTO ALLOWANCE - You will be eligible for a car allowance of $1,000 monthly.
--------------

MOORE 401-K SAVINGS PLAN - You may elect to defer up to 15% of your base salary,
up to a maximum of $10,500 pre-tax and a company match of 50% of the first 6% of
eligible pay that you save through the plan.

EMPLOYMENT SECURITY - While we expect a long and stable employment relationship,
you will be provided with outplacement, twelve (12) months of base salary and
bonus, medical benefits, and auto allowance continuation as a severance plan if
you are terminated for reasons other than cause and provided you agree to
confidentially, non competition for twelve (12) months and release Moore from
all employment termination-related liabilities.

Tom, we are excited about your acceptance and feel you will make a positive and
substantial contribution to our growth objectives. As you review this offer
please feel free to contact me at your convenience with any questions.

If the offer of employment is acceptable to you, please acknowledge your
acceptance by signing below, retain one copy for your records and return the
other copy to me. This offer is contingent upon verification of your legal work
status.

Sincerely,

/s/ Robert Burton
-------------------

Robert G. Burton
President & CEO

ACCEPTED:

/s/ Thomas W. Oliva                                       3/12/01
--------------------------------------------------------------------------------
Signature                                                   Date<PAGE>

MOORE(R)

                                       ROBERT G. BURTON
                                       President & Chief Executive Officer

                                       1200 Lakeside Drive
                                       Bannockburn, IL 60015
                                       Phone:  (847) 607-6144
                                       Fax:  (847) 607-7113

January 10, 2001

Mr. Dean F. Cherry
1537 Spring Creek Dr.
Murray, KY  42071

Dear Dean:

I am pleased to offer you, formally, the opportunity to join Moore on January
15, 2001 or as soon as possible thereafter as Executive Vice President,
International and Subsidiary Operations reporting directly to me.

Summarized in the following paragraphs is our employment offer. We believe this
offer recognizes your level of career achievement and will reward you for
performance.

BASE SALARY - Your annual base salary will be $300,000 (U.S.) with equal monthly
payments being made on the twentieth of each month.

MBO INCENTIVE PLAN - You will participate in our MBO incentive program. You will
be eligible under this program to receive from 0% to 100% of your annual base
salary subject to the terms and conditions of the program. With respect to 2001,
your payout under the MBO program of 100% is guaranteed as an inducement for you
to join the company.

STOCK OPTIONS - You will also participate in the Corporate Stock Option Plan and
have a target award level consistent with the amount normally granted to
positions at your level in the organization. This plan has been developed to
maintain focus on improving long-term shareholder value by aligning executive
performance to shareholder interest. The timing of the stock option grants is
determined each year by the Board. (A copy of the Plan will be provided.) I will
recommend to the board an initial grant of 50,000 options.

<PAGE>

BENEFITS - You will be eligible to participate in the various Moore Benefit
programs based on their individual eligibility requirements.

VACATION - You are eligible for four (4) weeks vacation annually.

AUTO ALLOWANCE - You will be eligible for a car allowance of $1,000 monthly.

MOORE 401-K SAVINGS PLAN - You may elect to defer up to 15% of your base salary,
up to a maximum of $10,500 pre-tax and a company match of 50% of the first 6% of
eligible pay that you save through the plan.

EMPLOYMENT SECURITY - While we expect a long and stable employment relationship,
you will be provided with outplacement, twelve (12) months of base salary and
bonus, medical benefits, and auto allowance continuation as a severance plan if
you are terminated for reasons other than cause and provided you agree to
confidentially, non competition for twelve (12) months and release Moore from
all employment termination-related liabilities.

Dean, we are excited about your acceptance and feel you will make a positive and
substantial contribution to our growth objectives. As you review this offer
please feel free to contact me at your convenience with any questions.

If the offer of employment is acceptable to you, please acknowledge your
acceptance by signing below, retain one copy for your records and return the
other copy to me. This offer is contingent upon verification of your legal work
status.

Sincerely,

/s/ Robert Burton
-----------------

Robert G. Burton
President & CEO

ACCEPTED:

/s/ Dean E. Cherry                                  3/1/01
--------------------------------------------------------------------------------
Signature                                            Date<PAGE>
                                                                    EXHIBIT 10.5
                                      2002
                        GLOBAL POWER EQUIPMENT GROUP INC.
                     MANAGEMENT INCENTIVE COMPENSATION PLAN

                                TABLE OF CONTENTS
<TABLE>
<S>                              <C>                                           <C>
Section 1                        Purpose                                       2

Section 2                        Definitions                                   2

Section 3                        Eligibility                                   3

Section 4                        Determination of Amount of Bonus              4

Section 5                        Payment of Bonus                              4

Section 6                        Administrative Provisions                     5
</TABLE>
<PAGE>
               GLOBAL POWER EQUIPMENT GROUP INC. - PLAN YEAR 2002
                     MANAGEMENT INCENTIVE COMPENSATION PLAN

                               SECTION 1 - PURPOSE

The Global Power Equipment Group Inc. ("Company") Management Incentive
Compensation Plan is designed to motivate and to reward key personnel who
contribute materially to the economic profit of the Company and thereby to aid
the Company in attracting, retaining and motivating personnel. The Company
recognizes the important contribution of its employees to its success and adopts
this Plan to reward such contributions and sustain the incentive for making such
contributions in the future.

                             SECTION 2 - DEFINITIONS

As used herein:

1.       "Base Salary" shall mean the aggregate amount of wages and/or salary
         (but excluding any bonus, disability pay or severance pay) earned by a
         Participant during the applicable Plan Year in which the Participant
         was eligible to participate in the Plan, determined in accordance with
         Section 3 hereof.

2.       "Board of Directors" shall mean the Board of Directors of the Company.

3.       "Bonus" shall mean the amount of incentive compensation earned by a
         participant, determined in accordance with Section 4 hereof.

4.       "Cause" shall mean fraud, dishonesty, and acts of gross negligence in
         the course of employment, material misrepresentation to stockholders
         and directors of the Company or the commission of a felony.

5.       "Committee" shall mean the Committee, if any, appointed in accordance
         with Paragraph 1 of Section 6 of the Plan.

6.       "Company" shall mean Global Power Equipment Group Inc.

7.       "Disability" shall have the same meaning as such term or similar term
         as defined in the disability insurance policy maintained by the Company
         which covers the Participant at the time of the alleged disability, or
         in the event the Company maintains more than one disability insurance
         policy which covers the Participant at such time, the meaning in the
         disability policy most recently acquired by the Company. If the Company
         maintains no such disability insurance policy at such time,
         "Disability" shall mean a mental or physical impairment or illness,
         which, in the judgment of the President of the Company, totally and
         presumably permanently prevents the individual from fully completing
         his normal job responsibilities for the Company.

                                                     GEEG 2002 MIC Plan - Page 2
<PAGE>
8.       "Participant" shall mean any officer or employee of the Company
         designated by the Board of Directors (or Compensation Committee) as
         eligible to participate in the Plan.

9.       "Plan shall mean this Global Power Equipment Group Inc. Management
         Incentive Compensation Plan, as in effect from time to time.

10.      "Year" shall mean the calendar year.

                             SECTION 3 - ELIGIBILITY

1.       Individuals eligible to receive a Bonus pursuant to this Plan shall be
         such employees of the Company as the Board of Directors (or
         Compensation Committee) shall at any time designate. The Board of
         Directors (or Compensation Committee) shall also designate the
         classification level at which each eligible individual shall
         participate. In deciding who shall be eligible for participation in the
         Plan and at which classification level an individual shall participate,
         the Board of Directors (or Compensation Committee) shall be guided by
         the principle that the Participants shall be employees whose area of
         responsibility provides them with a substantial opportunity to
         significantly affect economic profit of the company or provides them
         with an opportunity to significantly influence the long-term growth of
         the financial performance of the Company.

2.       If a Participant's employment with the Company terminates prior to the
         end of a Year as a result of termination by the Company for Cause, the
         Participant shall forfeit any Bonus to which he may become entitled
         according to the Plan for the then current Year. If a Participant's
         employment with the Company terminates prior to the end of a Year as a
         result of voluntary termination by the Participant, the Participant
         shall forfeit any Bonus to which he may become entitled according to
         the Plan for the then current Year. If a Participant's employment with
         the Company is terminated prior to the end of a Year by the Company
         without cause or if a Participant's employment with the Company
         terminates prior to the end of a Year as a result of his Death or
         Disability, the Participant shall be entitled to receive a Bonus for
         the Year based upon the Base Salary earned by the Participant prior to
         termination. If a Participant's employment with the Company is
         terminated prior to the end of a Year as a result of his Retirement,
         the Participant shall be entitled to receive a Bonus for the Year based
         upon the Base Salary earned by the Participant prior to his Retirement.

3.       Any issues of eligibility not covered by the above will be determined
         by the Board of Directors (or Compensation Committee) at the time they
         arise.

                                                     GEEG 2002 MIC Plan - Page 3
<PAGE>
                  SECTION 4 - DETERMINATION OF AMOUNT OF BONUS

The determination of the amount of bonus will be based on:

         1.       The individual participation level is outlined in your
                  notification of participation in the Global Power Equipment
                  Group Inc. Management Incentive Compensation (MIC) plan. The
                  participation level is based upon a target bonus, with the
                  actual bonus ranging from 0% (minimum) to 200% of target
                  (maximum). For instance, if your participation level is
                  defined as 10% then the bonus range is from 0% to 20%.

         2.       Actual Economic profit will be calculated at the end of the
                  year as follows: Economic profit (EP) = Earnings Before
                  Interest & Taxes (EBIT) - (Capital Employed x 20%). See
                  Attachment A for further details.

         3.       Economic Profit will be calculated for each individual based
                  upon performance for the specific entity as outlined in the
                  participant notification letter. For example, this will be
                  calculated on either Global Power Equipment Group Inc., Braden
                  Manufacturing, LLC, or Deltak, LLC (as noted in your
                  participation letter).

         4.       Actual Economic Profit will be compared to the Target Economic
                  Profit as shown on the Award schedule, resulting in a payout
                  ranging from 0% (minimum) to 200% of target (maximum). See
                  Attachment B for further details.

                          SECTION 5 - PAYMENT OF BONUS

1.       The Company shall pay the Bonus to the Participant as soon as
         practicable after its calculation, but in no event later than March 15
         of the Year following the Year to which it relates. The Bonus Payment
         shall be paid by payroll check (with applicable withholdings deducted).

2.       If a Participant's employment with the Company terminates prior to the
         end of a Year, his eligibility to receive the Bonus shall be determined
         in accordance with Section 3 hereof.

3.       If a Participant is not living at the time his Bonus is payable to him
         in accordance with this Plan, any Bonus which would have been payable
         to him shall be paid to the beneficiary, if any, designated in writing
         by the Participant, or if none, to his estate. A Participant may at any
         time revoke or change his beneficiary by filing written notice of such
         revocation or change with the Company.

                                                     GEEG 2002 MIC Plan - Page 4
<PAGE>
                      SECTION 6 - ADMINISTRATIVE PROVISIONS

1.       The Board of Directors (or Compensation Committee) shall direct the
         administration of the Plan.

2.       The Board of Directors (or Compensation Committee) shall have full
         power to amend, modify, rescind, construe and interpret the Plan. Any
         action taken or decision made by the Board of Directors (or
         Compensation Committee) arising out of, or in connection with the
         construction, administration, interpretation or effect of the Plan or
         of any rules and regulations adopted thereunder shall be conclusive and
         binding upon all Participants and all persons claiming under or through
         a Participant.

3.       The Board of Directors (or Compensation Committee) may rely upon any
         information supplied to it by any officer of the Company or by the
         Company's independent public accountants and may rely on the advice of
         such accountants or of counsel in connection with the administration of
         the Plan and shall be fully protected in relying upon such information
         or advice.

4.       No employee, officer of the Company or member of the Board of Directors
         (or Compensation Committee) shall have any liability for any decision
         or action if made or done in good faith and the Company shall indemnify
         each director, employee, and officer of the Company acting in good
         faith pursuant to this Plan against any loss or expense arising
         therefrom.

5.       Nothing in this Plan shall be construed or interpreted as giving any
         employee the right to be retained by the Company or impair the right of
         the Company to control its employees or to terminate the services of
         any employee at any time.

6.       Delaware State law shall determine and govern the validity and
         construction of this Plan in all respects. If any term or condition
         herein conflicts with applicable law, the validity of the remaining
         provisions shall not be affected thereby.

7.       This Plan shall (a) be effective as of January 1, 2002; (b) replace and
         supersede any and all prior versions hereof or other incentive bonus
         plans of the Company for employees of the Company; and (c) continue in
         effect until terminated by the Board of Directors or in accordance with
         its terms.

8.       This Plan shall not create any rights of future participation herein.

9.       No person eligible to receive any payment shall have any rights to
         pledge, assign or otherwise dispose of all or any portion of such
         payments, either directly or by operation of law, including but not by
         way of limitation, execution, levy, garnishment, attachment, pledge or
         bankruptcy.

                                                     GEEG 2002 MIC Plan - Page 5
<PAGE>
10.      The Company shall have the right to deduct for the payment of a Bonus
         hereunder any federal, state or local taxes required by law to be
         withheld with respect to such distribution.

IN WITNESS WHEREOF, the Company has caused this Global Power Equipment Group
Inc. Management Incentive Compensation Plan to be signed by its duly authorized
President and CEO, effective January 1, 2002.

                           GLOBAL POWER EQUIPMENT GROUP INC.

                           By /s/ Larry Edwards

                              ---------------
                              Larry Edwards
                              President and CEO

                                                     GEEG 2002 MIC Plan - Page 6

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