Document:

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                                                                    EXHIBIT 10.2

                         AMENDMENT NO. 1 TO THE AMENDED
                         EMPLOYMENT RETENTION AGREEMENT
                                     BETWEEN
                       SPECIALTY EQUIPMENT COMPANIES, INC.
                                       AND
                                ROBERT R. FRIEDL

     WHEREAS, Specialty Equipment Companies, Inc. (the "Company") and Robert R.
Friedl (the "Executive") entered into an Amended Employment Retention Agreement
dated as of July 26, 2000 (the "Agreement");

     WHEREAS, the Company and the Executive wish to amend the Agreement to
modify the Executive's ability to voluntarily resign for Good Reason and to
provide for other modifications as set forth below (the "Amendment");

     WHEREAS, the Company is entering into an Agreement and Plan of Merger, of
even date herewith, with United Technologies Corp. and Solar Acquisition Corp.
(collectively "UTC") pursuant to which UTC will acquire all shares of common
stock of the Company (the "Merger Agreement");

     WHEREAS, the Company and the Executive wish for the Amendment provided
herein to be effective only upon the closing of the transaction set forth in the
Merger Agreement (the "Closing"); and

     WHEREAS, all defined terms used herein shall have the meanings set forth in
the Agreement unless specifically defined herein.

     NOW, THEREFORE, for mutual consideration the receipt of which is hereby
acknowledged, the Agreement is hereby amended as follows:

1.   Section 1 of the Agreement is hereby amended by replacing such section in
its entirety with the following:

          1. Term of Employment. The Company hereby agrees to employ the
     Executive, and subject to Section 3 of this Agreement the Executive hereby
     agrees to be employed by the Company, for the period commencing on May 1,
     2000 and ending on the second anniversary of the Closing, unless terminated
     earlier in accordance with Section 3 (the "Employment Period").

2.   Section 2(b)(i) of the Agreement is hereby amended by replacing the first
sentence thereof in its entirety with the following:

          As of the Effective Date and during the Employment Period thereafter,
     the Company shall pay or cause to be paid to the Executive a base salary in
     cash at an annual rate of (A) with respect to the portion of the Employment
     Period on or before the

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     Closing, at least $225,000; and (B) with respect to the portion of the
     Employment Period thereafter, at least $175,000 (the "Guaranteed Base
     Salary").

3.   Section 2(b)(ii) of the Agreement is hereby amended by replacing such
section in its entirety with the following:

          (ii)  Cash Incentive Payments. The Executive shall be entitled to
     receive a cash incentive payment of $67,500 in respect of 2000 and $100,000
     in respect of 2001, such payments subject to the Executive's continued
     employment during the Employment Period, and in lieu of, and not in
     addition to, any other cash incentive payments he may be entitled to under
     any other cash incentive plans.

4.   Section 2 of the Agreement is hereby amended as follows by adding the
following new Sections 2(b)(iv), (v) and (vi):

          (iv)  Following the Closing, and during the Employment Period, the
     Company shall pay or cause to be paid to the Executive a transition payment
     such that when added to the actual salary and bonus paid during the year
     the total is no less than (A) the annual base salary of Executive
     immediately prior to the Closing, plus (B) an incentive amount equal to the
     amount specified in Section 2(b)(ii), as modified above. The Transition
     Payment will be paid in monthly installments, less tax withholding. The
     Transition Payment shall not be treated as compensation under any of the
     Company's retirement, welfare, executive compensation or other plans.

          (v)   Beginning on January 1, 2001, in lieu of the cash incentive plan
     described in subsection (ii) for periods after the close of the Company's
     fiscal year ending January 31, 2001, the Executive shall be eligible to
     participate in the annual Incentive Compensation ("AIC") program of UTC at
     the target ranges appropriate to Executive's compensation level and with
     business performance and individual performance targets and objectives
     consistent with program guidelines as applicable to peer executives.

          (vi)  Beginning on January 1, 2001, in lieu of participation in the
     Long-Term Incentive Plan described in subsection (iii), the Executive shall
     be entitled to participate in the Continuous Improvement Incentive Plan
     ("CIIP") of UTC and be eligible for grants of stock options in amounts and
     on terms and conditions appropriate to Executive's compensation level
     consistent with program guidelines as applicable to peer executives.

5.   Section 3(c) of the Agreement is hereby amended by replacing such section
in its entirety with the following:

          (c)   Good Reason. The Executive may terminate the Executive's
     employment for Good Reason (A) at any time during the Employment Period in
     the case of Good Reason as described in clauses (i), (ii), (iii) or (iv),
     below, or (B) on or after the second anniversary of the Closing in the
     cases of Good Reason as described in clause (v) below.

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          For the purposes of this Agreement, "Good Reason" means any one of the
          following events:

               (i)   any failure by the Company to comply with any provision of
          Sections 2(b)(i), 2(b)(ii) (both as modified by this Amendment) or
          Section 2(b)(iv), 2(b)(v), or 2(b)(vi), other than an isolated,
          insubstantial and inadvertent failure not occurring in bad faith and
          which is remedied by the Company promptly after receipt of notice
          thereof given by the Executive;

               (ii)  any failure by the Company to comply with and satisfy
          Section 11(c) of this Agreement;

               (iii) any reassignment of the Executive, within two years after
          the Closing, without his written consent, to a work location located
          more than 50 miles from his work location at the Effective Date;

               (iv)  the Executive no longer reports to Jeffrey Rhodenbaugh; or

               (v)   a material change by the Company in the Executive's title,
          authority, working conditions, function reporting responsibilities,
          status or any other action by the Company (other than a change in the
          Executive's reporting relationship to Jeffrey Rhodenbaugh) which would
          cause the Executive's position with the Company to become one of
          materially less responsibility, importance, or scope from the position
          and attributes thereof described in Section 2(a)(i) above, or which
          material action or change would unreasonably add to the burdens of his
          duties, excluding for this purpose an isolated, insubstantial and
          inadvertent action not taken in bad faith and which is remedied by the
          Company promptly after receipt of notice thereof given by the
          Executive, provided, however, that the hiring of additional executives
          whose responsibilities overlap those of the Executive shall not
          necessarily constitute Good Reason.

6.   Section 4 of the Agreement is hereby amended by inserting before the colon
at the end of the first paragraph thereof the following:

          ; provided, however, that any lump sum amount payable under this
     Section 4 shall be decreased by the total amount of Transition Benefit paid
     to the Executive during the term of this Agreement, in accordance with
     Section 2(b)(iv), and provided further that any amount payable under this
     Section 4 shall be based upon the Guaranteed Base Salary in effect
     immediately prior to the Closing, and provided finally that if the amounts
     specified in Section 4 have not become payable before the second
     anniversary of the Closing and Executive has not been terminated by the
     Company for Cause or resigned without Good Reason, then the amounts
     specified in Section 4 shall be paid to Executive in a lump sum upon the
     second anniversary of the Closing whether or not the Executive remains
     employed by the Company following the second anniversary of the Closing:

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7.   Section 7 of the Agreement is hereby amended by replacing such section in
its entirety with the following:

          7. Non-competition. The Executive agrees that while he is employed
     hereunder and for a period of one year following the termination of the
     Executive's employment for any reason, and occurring at any time, including
     any time after the end of the Employment Period, the Executive shall not be
     employed by or enter into or engage in or be connected with or engage to
     work for any individual, firm or corporation which is engaged in or
     connected with any business that competes, directly or indirectly, with the
     Company (including, without limitation, in the supply of equipment for the
     food retail, food service or beverage industries), unless he obtains the
     express written approval of the Vice President, Human Resources of Carrier
     Corporation (or his or her functional equivalent), who shall grant or
     withhold consent in his or her sole discretion after the Executive's full
     disclosure of the nature of the intended arrangement. The obligations of
     this Section 7 shall survive the termination of this Agreement.

8.   The amendments made by this Amendment shall be effective from and after the
Closing conditional on the occurrence of the Closing on or before March 1, 2001.
If for any reason the Closing does not occur on or before March 1, 2001, the
amendments made by this Amendment shall have no effect.

     IN WITNESS WHEREOF, the Executive and the Company have executed this
Amendment as of the 13th day of October, 2000.

EXECUTIVE:                          ROBERT R. FRIEDL

                                    /s/ Robert R. Friedl
                                    ----------------------------
                                    Signature

COMPANY:                            SPECIALTY EQUIPMENT COMPANIES, INC.

                                    By: /s/ Jeff Rhodenbaugh
                                    ----------------------------
                                    Name: Jeff Rhodenbaugh
                                    Title: President & CEO<PAGE>   1

                                                                    EXHIBIT 10.3

                            INDEMNIFICATION AGREEMENT

         THIS AGREEMENT, dated as of the day of __________, is made by and
between Specialty Equipment Companies, Inc., a Delaware corporation having its
principal place of business in the State of Illinois (the "Company") and
____________ (the "Indemnitee"), a resident of the State of Illinois.

         WHEREAS, it is essential to the Company to retain and attract the most
capable persons available as officers and directors; and

         WHEREAS, Indemnitee is currently serving as the ____________ of the
Company (the "Position"); and

         WHEREAS, both the Company and Indemnitee recognize the increased risk
of litigation and other claims being asserted against directors and officers of
corporations, as a result of which competent and experienced persons have become
more reluctant to serve in such positions, and as a result of which creative
management and decision making has been deterred; and

         WHEREAS, the provision of indemnification will assist the Company in
attracting and retaining the most skilled and competent officers and directors;
and

         WHEREAS, in recognition of Indemnitee's need for substantial protection
against personal liability in order to enable Indemnitee to continue to provide
service to the Company in an effective manner, the Company wishes to provide in
this Agreement for the indemnification of the Indemnitee and for the advancing
of expenses to Indemnitee, in each case to the full extent permitted by law and
as set forth in this Agreement.

         NOW THEREFORE, in consideration of the premises and the covenants
contained herein, the Company and Indemnitee agree as follows:

1. Agreement to Serve. Indemnitee will continue to serve faithfully and to the
best of his ability in the Position, at the will of the Company or pursuant to
the terms of any separate agreement which may exist, so long as he is duly
elected or appointed and qualified or until such time as he tenders his
resignation in writing.

2. Right to Indemnification. In the event Indemnitee was or is made a party or
was or is threatened to be made a party to or was or is involved in or called as
a witness in any action, suit or proceeding, whether civil, criminal,
administrative or investigative, and any appeal therefrom (hereinafter,
collectively a "proceeding"), by reason of the fact that he was, is or had
agreed to become a director, officer, employee, agent, fiduciary or Delegate (as
defined herein) of the Company, Indemnitee shall be indemnified and held
harmless by the Company to the fullest extent permitted under the Delaware
General Corporation Law (the "DGCL"), as the same now exists or may hereafter be
amended (but, in the case of any such amendment, only to the extent that such
amendment permits the Company to provide broader indemnification rights than the
DGCL permitted the corporation to provide prior to such amendment) against all
expenses (including, but not limited to, attorneys' fees and expenses of
litigation) and all liabilities and losses (including,

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but not limited to, judgments; fines; liabilities under ERISA for damages,
excise taxes or penalties; damages, fines or penalties arising out of violation
of any law related to the protection of the public health, welfare or the
environment; and amounts paid or to be paid in settlement) incurred or suffered
by such person in connection therewith; provided, that except as provided in
Section 4 hereof, the Company shall indemnify any such person seeking indemnity
in connection with a proceeding (or part thereof) initiated by such person only
if such proceeding (or part thereof) was authorized by the Board of Directors of
the Company.

         For purposes of this Agreement, a "Delegate" is any person serving at
the request of the corporation as a director, officer, trustee, fiduciary,
partner, employee or agent of an entity or enterprise other than the corporation
(including, but not limited to, service with respect to employee benefit plans
and trusts).

3. Expenses. Expenses, including attorneys' fees, incurred by Indemnitee in
defending or otherwise being involved in a proceeding shall be paid by the
corporation in advance of the final disposition of such proceeding, including
any appeal therefrom, upon receipt of an undertaking (the "Undertaking") by or
on behalf of Indemnitee to repay such amount if it shall ultimately be
determined that he is not entitled to be indemnified by the Company; provided,
that in connection with a proceeding (or part thereof) initiated by Indemnitee,
except as provided in Section 4 hereof, the Company shall pay such expenses in
advance of the final disposition only if such proceeding (or part thereof) was
authorized by the Board of Directors of the Company. The Undertaking shall
provide that if Indemnitee has commenced proceedings in a court of competent
jurisdiction to secure a determination that he should be indemnified by the
Company, he shall not be obligated to repay the Company during the pendency of
such proceeding.

4. Protection of Rights. If a claim under Section 2 or any agreement ("Other
Agreement") providing indemnification to Indemnitee is not promptly paid in full
by the Company after a written claim has been received by the Company or if
expenses pursuant to Section 3 or an Other Agreement have not been promptly
advanced after a written request for such advancement accompanied by the
Undertaking has been received by the Company, the claimant may at any time
thereafter bring suit against the Company to recover the unpaid amount of the
claim or the advancement of expenses. If successful, in whole or in part, in
such suit Indemnitee shall also be entitled to be paid the reasonable expense
thereof. It shall be a defense to any such action (other than an action brought
to enforce a claim for expenses incurred in defending any proceeding in advance
of its final disposition where the required Undertaking has been tendered to the
Company) that Indemnitee has not met the standards of conduct which make it
permissible under the DGCL for the Company to indemnify Indemnitee for the
amount claimed, but the burden of proving such defense shall be on the Company.
Neither the failure of the Company (including its Board of Directors,
independent legal counsel, or its stockholders) to have made a determination
that indemnification of Indemnitee is proper in the circumstances because he has
met the applicable standard of conduct required under the DGCL, nor an actual
determination by the Company (including its Board of Directors, independent
legal counsel, or its stockholders) that Indemnitee had not met such applicable
standard of conduct, shall be a defense to the action or create a presumption
that Indemnitee had not met the applicable standard of conduct.

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         If a Change of Control has occurred, Indemnitee upon making a claim
under Section 2 or seeking to avoid repayment to the Company pursuant to an
Undertaking under Section 3 shall have (i) the right, but not the obligation, to
have a determination made by independent legal counsel as to whether
indemnification of the claimant is proper because he or she has met the
applicable standard of conduct required under the DGCL; and (ii) shall have the
right to select as independent legal counsel for such purpose any law firm as
designated (or within a category designated) for such purpose in a resolution
adopted by the Board of Directors of the Company prior to the Change of Control
and in full force and effect immediately prior to the Change of Control. If a
determination has been made in accordance with the preceding sentence, no
determination inconsistent therewith by other legal counsel, by the Board of
Directors, or by stockholders shall be of any force or effect, provided however,
that Indemnitee shall maintain all rights granted hereby to bring an action as
specified in the preceding paragraph.

         A "Change of Control" shall be deemed to have occurred if (i)
individuals who as of ____________, _____ constitute the Board of Directors of
the Company (the "Incumbent Directors") cease for any reason to constitute at
least a majority of the Board of Directors of the Company, or (ii) there is a
merger, consolidation or reorganization ("Merger") of the Company in which the
Company is not the surviving entity (the "Survivor") and at any time following
such Merger, Incumbent Directors do not constitute a majority of the Board of
Directors of the Survivor; provided that any individual who becomes a director
after ____________, _____ whose election, or nomination for election by the
Company's stockholders was approved by a vote or written consent of at least
two-thirds of the directors then comprising the Incumbent Directors shall be
deemed to be an Incumbent Director, but excluding, for this purpose, any such
individual whose initial assumption of office is in connection with an actual or
threatened election contest (as such term is used in Rule 14a-11 under the
Securities Exchange Act of 1934, as amended) relating to the election of the
directors of the Company.

5. No Presumption. For purposes of this Agreement, the termination of any
proceeding, by judgment, order, settlement (whether with or without court
approval) or conviction, or upon a plea of nolo contendere or its equivalent,
shall not create a presumption that Indemnitee did not meet any particular
standard of conduct or have any particular belief or that a court has determined
that indemnification or contribution is not permitted by applicable law.

6. Non-Exclusivity of Rights. The rights conferred on Indemnitee by this
Agreement shall not be exclusive of any other right which Indemnitee may have or
hereafter acquire under any statute, provision of the Company's Certificate of
Incorporation or By-Laws, as amended and/or restated, other agreement, vote of
stockholders or directors or otherwise.

7. Subrogation. In the event of any payment under this Agreement to Indemnitee,
the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who shall execute all papers required and
shall do everything that may be necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit
to enforce such rights.

8. Amendment; Waiver. No provision of this Agreement may be amended or modified
except with the consent in writing of Indemnitee and the Company, nor may any
provision of this Agreement

                                       -3-
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be waived except in writing by the party granting such waiver. A waiver of any
provision hereof shall not be deemed a waiver of any other provision hereof.
Failure of either of the parties hereto to insist upon strict compliance with
any provision hereof shall not be deemed to be a waiver of such provision or any
other provision hereof.

9. No Duplication of Payments. The Company shall not be liable under this
Agreement to make any payment in connection with any proceeding to the extent
Indemnitee has otherwise actually received payment under any insurance policy,
statute, provision of the Company's Certificate of Incorporation or By-Laws, as
amended and/or restated, other agreement, vote of stockholders or directors or
otherwise of the amounts otherwise indemnifiable.

10. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the parties hereto and their respective
successors and assigns (including, without limitation, any successor by
purchase, merger, consolidation, reorganization or otherwise to all or
substantially all of the business and/or assets of the Company) and their
spouses, heirs, and personal and legal representatives.

11. Term. The provisions of this Agreement shall be applicable to all
proceedings, regardless of when commenced and regardless of whether relating to
events, acts or omissions occurring before, on or after the date on which this
Agreement becomes effective. This Agreement shall continue in effect regardless
of whether Indemnitee continues to serve in the Position; provided, however,
that notwithstanding any other provision hereof, the Company shall have no
obligations hereunder with respect to liability, losses and expenses of any
proceeding to the extent that such liability, losses and expenses relate to
conduct of the Indemnitee which occurs after the earliest date on which
Indemnitee no longer holds the Positions nor a position of a corporate officer
or director of the Company or a President of any of the Wells/Bloomfield,
Taylor, Beverage Air and World Dryer divisions of the Company.

12. Severability. If this Agreement or any portion hereof shall be invalidated
or held to be unenforceable, such invalidity or unenforceability shall not
affect the other provisions hereof, and this Agreement shall be deemed to be
modified to the minimum extent necessary to avoid such invalidity or
unenforceability, and as so modified this Agreement and the remaining provisions
hereof shall remain valid and enforceable in accordance with their terms to the
fullest extent permitted by law.

13. Notice. All notices and other communications hereunder shall be in writing
and delivered by hand or by first class registered or certified mail, return
receipt requested, postage prepaid, addressed as follows:

                If to the Indemnitee:
                --------------------

                [Name]
                [Address]
                [Address]

                If to the Company:
                -----------------

                                       -4-
<PAGE>   5

                Specialty Equipment Companies, Inc.
                1245 Corporate Boulevard, Suite 401
                Aurora, Illinois  60504
                Attention:  Jeffrey P. Rhodenbaugh

or to such other address as either party shall have furnished to the other in
writing in accordance herewith. Notice and communications shall be effective
when actually received by the addressee.

14. Governing Law. This agreement shall be governed by and construed and
enforced in accordance with the laws of the state of Delaware, without regard to
its choice of law principles.

15. Captions. The captions of this Agreement are not part of the provisions
hereof and shall have no force or effect.

16. Counterparts. This agreement may be executed in multiple counterparts, each
of which shall be deemed to be an original but all of which together will
constitute one and the same instrument originals.

         IN WITNESS WHEREOF, Indemnitee and the Company, pursuant to the
authorization of its Board of Directors, execute and approve this Agreement in
all respects as to form and substance and make it fully effective as of the date
first above written.

                                   ------------------------------------
                                   Indemnitee

                                   SPECIALTY EQUIPMENT COMPANIES, INC.

                                   By:
                                      ---------------------------------
                                   Its:
                                      ---------------------------------

                                      -5-

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