Document:

EX-10.27

Exhibit 10.27

CONSULTING AGREEMENT

This Agreement made and entered into by and between Dana Limited, having its principal place of
business at 4500 Dorr St., Toledo, OH 43697 (hereinafter “Company”), and Robert Fesenmyer, whose
address is 8913 Orchard Lake Road, Holland, OH 43528, a consultant (hereinafter “Contractor”).

WITNESSETH:

WHEREAS, Contractor has great personal and specialized knowledge about auto industry trends, sales
and marketing trends and approaches, original equipment manufacturer’s needs and products,
manufacturing trends and product sourcing expertise.

WHEREAS, the Company desires, to the extent practicable, to retain and secure for itself the
experience, abilities and services of Contractor in order to avoid the additional cost and expense
associated with discharging its obligations without the benefit of Contractor’s knowledge and
expertise;

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, it is
hereby agreed by and between the parties hereto as follows:

	1.	 	Engagement. The Company hereby engages Contractor as an independent consultant to perform
consulting activities in connection with various sales and marketing initiatives, plans and
processes as well as other matters within the Contractor’s knowledge and expertise. As such,
Contractor will perform the consulting duties described in paragraph 3 as may be reasonably
requested by the Company through its Chief Executive Officer, Chief Administrative Officer,
Vice President of Strategy and Business Development or their designees, from time to time
during the Consulting Term.
	 
	 	 	The Company shall (except for phone discussions of less than thirty minutes in duration in
any one business day) give Contractor reasonable advance notice of its need for Contractor’s
service under the terms of this Agreement, which notice shall specify with particularity,
the dates and expected duration of the anticipated need for Contractor’s services. Further,
except in the case of an emergency, the scheduling of Contractor’s services shall be
reasonably adjusted to conform to Contractor’s availability, as it is recognized that
Contractor will be pursuing new employment because of the elimination of his position with
the Company.
	 
	 	 	As specific consideration to ensure the Contractor’s availability and in addition to the
compensation specified in Paragraph 4 below, the Company will pay to the Contractor a
retainer fee of Ten Thousand Dollars ($10,000) in January, 2009.
	 
	2.	 	Consulting Term. Contractor will be retained as a consultant by the Company in the
consulting position described in paragraph 1 hereof for a Consulting Term commencing on
January 1, 2009 and continuing until March 31, 2009 (the “Consulting Term”), unless sooner
terminated by two weeks advance written notice from one party

 

 

	 	 	to the other. This Consulting Term may be renewed by a separate written agreement by the
parties.
	 
	3.	 	Duties. Contractor is hereby engaged as a consultant with respect to various sales and
marketing matters and projects to be reasonably determined by Dana including but not limited
to continuation and completion of matters that had previously been the subject of Contractor’s
effort while employed by the Company and to provide such consulting services in connection
therewith as may be reasonably requested by the Company. Unless the needed services require
physical presence at a specified location the Contractor will not be required to provide
consulting services at any particular location. In such case the services may be provided at
home or by telephone or mail, or by any other means mutually agreeable to both parties. Both
parties agree that on the average Contractor will not render services to the Company for more
than forty (40) hours in any week, during the Consulting Term as it is recognized that
Contractor may pursue other clients.
	 
	4.	 	Compensation. For services rendered by Contractor during the Consulting Term, the Company
shall pay Contractor an hourly consulting fee of One Hundred Seventy Five Dollars ($175.00).
This shall be the only compensation (other than the reimbursement of expenses pursuant to
paragraph 7) that Contractor shall be entitled to receive from the Company for his services
under this Agreement.
	 
	5.	 	Secrecy. During the course of the Consulting Term, Contractor may learn, become aware of, or
be engaged in the development of information related to the Company’s or an affiliate’s
business that is secret or confidential. Contractor covenants and agrees that if the
information to which he is exposed and/or granted access to during the Consulting Term is
confidential, trade secret, or proprietary information, and that he shall maintain this
information confidential and shall not, either during the Consulting Term or at any time
thereafter, without the express prior written permission of the Company, disclose such
information to others or use such information for his own benefit or for the benefit of third
parties. Contractor further agrees to take all reasonable precautions to protect against the
negligent or inadvertent disclosure of the above-described secret or confidential information
to any other person or business entity.
	 
	 	 	Contractor further agrees that he will not disclose to any third party any details of the
assignment he is performing under this Agreement unless such disclosure is contemplated by
or necessary to the completion of the work assigned to the Contractor by the Company.
	 
	 	 	Contractor further agrees that all inventions, improvements, discoveries and works of
authorship which are conceived, suggested, invented, made or discovered by him during the
Consulting Term and are produced for the benefit of the Company or it’s workforce and at the
direction or request of the Company, while on the premises of the Company or elsewhere, and
which in any way relate to the services rendered under this agreement or to products,
machines, tools, processes or methods manufactured, marketed, designed, developed,
investigated or tested by the Company at any time

 

 

	 	 	before or during the Consulting Term, or to similar products, devices, machines, tools,
processes or methods, are hereby assigned to the Company and shall without further
consideration be the sole and exclusive property of the Company. However, any such
inventions, improvements, discoveries and works of authorship which are not produced for the
benefit of the Company or its workforce, or at the direction or request of the Company, or
designated as proprietary, confidential or exclusive by the Company will not be subject to
the requirements of this section. In addition, any such inventions, improvements,
discoveries and works of authorship which are designated as proprietary or confidential by
the Company will not be subject to the requirements of this section should the Company
either inadvertently or deliberately place such proprietary, confidential information in the
public domain.
	 
	6.	 	Working Facilities. Contractor shall be furnished with such working space, office personnel
and supplies as may be necessary, in the reasonable opinion of the Company and the Contractor,
to permit Contractor to perform his duties hereunder. Any other instruments, which are
necessary, in the reasonable opinion of the Company and the Contractor, to perform his duties,
must be supplied by Contractor. However, upon an itemized accounting of such other
instruments as are approved in advance by the Company, the Company shall reimburse Contractor
within a reasonable time for the expenses.
	 
	7.	 	Travel Expenses. The Company shall reimburse Contractor for reasonable expenses for travel
deemed necessary by the Company to the performance of Contractor’s duties or shall, at the
Company’s expense, provide such travel arrangements.
	 
	8.	 	Fringe Benefits. During the Consulting Term, Contractor shall not be entitled to participate
in any Company-provided group life insurance, hospitalization, pension plans, incentive
programs, salary continuation plans and such other employee benefits as are customarily
available to employees of the Company or its affiliates, provided, however, that this
Agreement shall in no way alter or affect Contractor’s retirement or other benefits arising
solely from his employment with the Company prior to his retirement or to those benefits and
privileges arising out of “Contractor’s Separation and General Release” with the Company.
	 
	9.	 	Assignment. The rights and obligations of the Company hereunder are assignable, and shall
inure to the use and benefit of its successors and assigns upon thirty days written advance
notice. However, the rights and obligations of Contractor hereunder shall not be assignable by
the Contractor, voluntarily or involuntarily, or by operation of law except that the Company
will recognize any assignment to the Contractor’s corporation or limited liability company or
similar business entity under the laws of the state of Ohio or any other state of the United
States where the Contractor may take resident or domicile during the term of this Agreement so
long as the Contractor will still be providing the contracted services.
	 
	10.	 	Hold Harmless. Contractor agrees to carry his own insurance and agrees to assume any risk
incidental to his entry upon Company premises, and will release and hold the Company harmless
of any and all claims Contractor might have against the Company

 

 

	 	 	as a result of personal injuries sustained during the Consulting Term. The Company will
hold harmless and indemnify the Contractor from any and all claims that may arise as a
result of the Company’s misuse or imprudent use of the advice or services rendered by the
Contractor to the Company.
	 
	11.	 	Control. The Company shall not control the instrumentalities, details, and means by which
Contractor achieves the results for which he was retained under this Agreement. It is expected
that the Contractor will be providing only advisory and consulting services, and consequently,
he will not be subject to the supervision or control of the Company
	 
	12.	 	Contractor’s Status. It is understood and agreed that Contractor is not and shall not be
deemed to be an agent (except as may be expressly authorized in writing by the Company from
time to time during the term of this Agreement), employee or servant of the Company (or its
affiliates), and is engaged only as an independent contractor in a consultant capacity, and
has no power or authority to act, bind or make commitments on behalf of the Company or its
affiliates without the prior written authority of the Company. As an independent contractor,
no deductions shall be made by the Company from Contractor’s fees, and Contractor assumes all
tax obligations in connection with the same.
	 
	13.	 	Amendment. This Agreement cannot be amended or modified in any respect, unless such
amendment or modification is evidenced by a written instrument executed by both parties
hereto.

IN WITNESS WHEREOF, the Company and Contractor have executed this Agreement on December 2, 2008 to
become effective as of the 1st day of January, 2009.

	 	 	 	 	 	 	 
	CONTRACTOR	 	DANA LIMITED
	 
	 	 	 	 	 	 
	By:

	 	/s/ Robert Fesenmyer
	 	By:
	 	/s/ Robert Marcin
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	 	 	TitleEX-10.38

Exhibit 10.38

DANA HOLDING CORPORATION

NONQUALIFIED STOCK OPTION AGREEMENT

Date of
Grant:                                         

     1. The Award and the Plan. As of the Date of Grant set forth in the Award
Notification preceding or accompanying this Nonqualified Stock Option Agreement (the “Agreement”),
Dana Holding Corporation (“Dana”) grants to you an Option Right (the “Option”) to purchase the
number of its shares of Common Stock at the price per share which represents at least the Market
Value Per Share on the Date of Grant (the “Option Price”) all as set forth in such Award
Notification. The Option Right is intended as a nonqualified stock option and will not be treated
as an “incentive stock option” within the meaning of that term under Section 422 of the Internal
Revenue Code of 1986, as amended. Any undefined terms in this Agreement appearing as defined terms
will have the same meaning as they do in the Dana Holding Corporation 2008 Omnibus Incentive Plan,
as amended and/or restated from time to time (the “Plan”). Dana will provide a copy of the Plan to
you upon request.

     2. Right to Exercise.

     (a) Subject to Sections 2(b) and (c), 4 and 6 below, the Option will become exercisable
as set forth in the award communication previously provided to you if you remain
continuously employed by either Dana or any Subsidiary until such time. To the extent the
Option is exercisable, it may be exercised in whole or in part.

     (b) Notwithstanding Section 2(a) above, the Option will become immediately exercisable
in full, if at any time prior to the termination of the Option, a Change in Control will
occur.

     (c) Notwithstanding Section 2(a) above, if you should die or become Disabled while in
the employ of Dana or any Subsidiary, this Option will immediately become exercisable in
full and will remain exercisable until terminated in accordance with Section 4 below.

     3. Payment. The Option Price will be payable (a) in cash or by check or by wire
transfer of immediately available funds, as acceptable to Dana, (b) by actual or constructive
transfer to Dana of nonforfeitable, unrestricted shares of Common Stock that have been owned by you
for more than six (6) months prior to the date of exercise, or (c) by a combination of such methods
of payment. The requirement of payment in cash will be deemed satisfied if you have made
arrangements satisfactory to Dana with a bank or a broker who is a member of the National
Association of Securities Dealers, Inc. to sell on the exercise date a sufficient number of the
shares being purchased so that the net proceeds of the sale transaction will at least equal the
Option Price plus payment of any applicable withholding taxes and pursuant to which the bank or
broker undertakes to deliver the full Option Price plus payment of any applicable withholding taxes
to Dana on a date satisfactory to Dana, but not later than the date on which the sale transaction
will settle in the ordinary course of business.

     4. Termination. This Option will terminate on the earliest of the following dates:

     (a) The date on which you cease to be an employee of Dana or any Subsidiary, if your
employment with Dana or a Subsidiary is terminated for Cause;

     (b) Six (6) months after you cease to be an employee of Dana or a Subsidiary, unless
you cease to be an employee by reason of death, Disability, Normal Retirement or termination
for Cause;

 

 

     (c) One (1) year after your death if you die while an employee of Dana or a Subsidiary
(in which case the Option becomes immediately exercisable in full pursuant to Section 2(c)
herein);

     (d) Three (3) years after your permanent and total disability if you become Disabled
(as described in Section 2(c) above) while an employee of Dana or a Subsidiary; and

     (e) Ten (10) years from the Date of Grant.

     5. Option Nontransferable. This Option is not transferable by you otherwise than by
will or the laws of descent and distribution.

     6. Compliance with Law. Dana will make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however, that
notwithstanding any other provision of this Agreement, this Option will not be exercisable if such
exercise would result in a violation of any such law.

     7. Adjustments. Dana will make any adjustments in the Option Price and in the number
or kind of shares of Common Stock or other securities covered by the Option that Dana may determine
to be equitably required to prevent any dilution or expansion of your rights under this Agreement
that otherwise would result from any (a) stock dividend, stock split, reverse stock split,
combination of shares, recapitalization or other change in the capital structure of Dana, (b)
merger, consolidation, spin-off, split-off, spin-out, split-up, separation, reorganization, partial
or complete liquidation involving Dana or other distribution of assets, issuance of rights or
warrants to purchase securities of Dana, or (c) other transaction or event having an effect similar
to any of those referred to in Section 7(a) or 7(b) hereof. Furthermore, in the event that any
transaction or event described or referred to in the immediately preceding sentence will occur,
Dana will provide in substitution of any or all of your rights under this Agreement such
alternative consideration as Dana may determine in good faith to be equitable under the
circumstances. In addition, for each Option Right with an Option Price greater than the
consideration offered in connection with any such transaction or event or Change in Control, the
Board may in its sole discretion elect to cancel such Option Right without any payment to you
regardless of holding an Option Right.

     8. No Dividend Equivalents. You will not be entitled to dividend equivalents.

     9. Taxes and Withholding. If Dana will be required to withhold any federal, state,
local or foreign tax in connection with the exercise of this Option, it will be a condition to such
exercise that you pay or make arrangements satisfactory to Dana for payment of all such taxes. You
may elect that all or any part of such withholding requirement be satisfied by retention by Dana of
a portion of the shares purchased upon exercise of this Option. If such election is made, the
shares so retained will be credited against such withholding requirement at the Market Value Per
Share on the date of exercise. In no event, however, will Dana accept shares of Common Stock for
payment of taxes in excess of required tax withholding rates.

     10. No Employment Contract. This Option is a voluntary, discretionary award being
made on a one-time basis and it does not constitute a commitment to make any future awards.
Nothing in this Agreement will give you any right to continue employment with Dana or any
Subsidiary, as the case may be, or interfere in any way with the right of Dana or a Subsidiary to
terminate your employment.

     11. Relation to Other Benefits. Any economic or other benefit to you under this
Agreement or the Plan will not be taken into account or considered as salary or compensation in
determining any benefits to which you may be entitled under any profit-sharing, retirement or other
benefit or compensation plan maintained by Dana or any Subsidiary and will not affect the amount of
any life

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insurance coverage available to any beneficiary under any life insurance plan covering
employees of Dana or a Subsidiary.

     12. Information. Information about you and your participation in the Plan may be
collected, recorded and held, used and disclosed for any purpose related to the administration of
the Plan. You understand that such processing of this information may need to be carried out by
Dana and its Subsidiaries and by third party administrators whether such persons are located within
your country or elsewhere, including the United States of America. You consent to the processing
of information relating to you and your participation in the Plan in any one or more of the ways
referred to above.

     13. Relation to Plan. This Agreement is subject to the terms and conditions of the
Plan. In the event of any inconsistency between the provisions of this Agreement and the Plan, the
Plan will govern. The Board (or a committee of the Board) acting pursuant to the Plan, as
constituted from time to time, will, except as expressly provided otherwise herein, have the right
to determine any questions which arise in connection with the grant of the Option hereunder. By
your acceptance of the Option under this Agreement, you acknowledge receipt of a copy of the
Prospectus for the Plan and your agreement to the terms and conditions of the Plan and this
Agreement.

     14. Compliance with Section 409A of the Code. To the extent applicable, it is
intended that the options granted under this Agreement and the Plan be “stock rights” exempt from
the provisions of Section 409A of the Code, so that the income inclusion provisions of Section
409A(a)(1) of the Code do not apply to you. This Agreement and the Plan will be administered in a
manner consistent with this intent. Reference to Section 409A of the Code is to Section 409A of
the Internal Revenue Code of 1986, as amended, and will also include any regulations or any other
formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or
the Internal Revenue Service.

     15. Amendments. Any amendment to the Plan will be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided, however,
that no amendment will adversely affect the your rights under this Agreement without your consent
(provided, however, that your consent will not be required to an amendment that is deemed necessary
by Dana to ensure compliance with Section 409A of the Code).

     16. Severability. If any provision of this Agreement or the application of any
provision hereof to any person or circumstances is held invalid, unenforceable or otherwise
illegal, the remainder of this Agreement and the application of such provision to any other person
or circumstances will not be affected, and the provisions so held to be invalid, unenforceable or
otherwise illegal will be reformed to the extent (and only to the extent) necessary to make it
enforceable, valid and legal.

     17. Successors and Assigns. Without limiting Section 5 hereof, the provisions of this
Agreement will inure to the benefit of, and be binding upon, your successors, administrators,
heirs, legal representatives and assigns, and the successors and assigns of Dana.

     18. Governing Law. This Agreement will be governed by and construed in accordance
with the internal substantive laws of the State of Delaware, without giving effect to any
principles of conflict of laws thereof.

[signature page follows]

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     IN WITNESS WHEREOF, this Agreement has been executed by an appropriate officer of Dana Holding
Corporation and by you, both as of the day and year first above written.

DANA HOLDING CORPORATION

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	Name:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	Title:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 
	 

Recipient Signature

	 	 

	 	 	 
	 

Print Name

	 	 

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