Document:

EX-10.1

 Exhibit 10.1 

 

			
	

	  	World Headquarters

 October 1, 2012 
 Mr. James S. McElya 
 5421 Burnt Hickory Drive 

Valrico, Florida 33594 
 Dear Jim: 

The purpose of this letter is to confirm the terms by which you will continue to be engaged by Cooper-Standard Holdings Inc. and
Cooper-Standard Automotive Inc. (collectively, the “Company”) as the Company’s non-executive Chairman of the Board of Directors (“Non-Executive Chairman”) following your retirement as Chairman and Chief Executive Officer.
The key terms of your service shall be as follows: 
 1. Term and Termination. Your voluntary retirement as
Chairman and Chief Executive Officer shall become effective on October 15, 2012 (the “Termination Date”). Following the Termination Date, you agree to serve as Non-Executive Chairman for the remainder of your current term as a
director of the Company) subject to the Company’s Articles of Incorporation and Bylaws and applicable law (the “Term”). The Company hereby agrees to waive the requirement of ninety (90) days’ written notice of your voluntary
retirement as otherwise required under Section 9 of the Fourth Amended and Restated Employment Agreement between you and the Company, dated July 1, 2008 (the “Employment Agreement”). 

2. Services. In addition to your services as Non-Executive Chairman and director, during the Term, you agree to provide
transition and other related services to the Company in order to assist in providing an effective transition of your executive responsibilities as former Chief Executive Officer. You shall diligently and competently perform such services and use
reasonable efforts in connection with the performance of such services. You and the Company agree that the anticipated level of all services that you will perform for the Company during the Term will not be in excess of 20% of the average level of
services that you had performed for the Company during the 3 year period prior to the Termination Date. Upon presentation of appropriate receipts, the Company will reimburse you for all documented, out-of-pocket expenses you incur in the performance
of your duties as Non-Executive Chairman and director, including, but not limited to, expenses you incur in attending business and board meetings and when traveling on Company business. 

3. Compensation. As compensation for your transition services and service as Non-Executive Chairman and director, the Company
will pay you a total amount of $500,000, payable in installments of $75,000 per month served beginning November 2012, with a final installment of $50,000 payable in May 2013. For the avoidance of doubt, you will be entitled to no additional
compensation for your services following the Termination Date except as set forth in this section. 
 4. Employment
Agreement. You and the Company hereby acknowledge and agree that your voluntary resignation from the Company constitutes both a “Qualified Retirement” and a “Termination” under the terms of the Employment Agreement. Further,
you and the Company hereby acknowledge and agree that all payments and benefits to which you may be entitled upon your voluntary resignation shall be governed by, and subject to the requirements of, the Employment Agreement and all other Company
plans and programs in which you participate. 
 39550 Orchard Hill Place
Drive — Novi, MI 48375 — Phone: (248) 596-5900 — Fax: (248) 596-6550

 James S. McElya 
 October 1, 2012 
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 5.
Administrative Support. The Company agrees that it will provide you with appropriate administrative support while you are performing services for the Company at the Company’s location. During the Term, the Company agrees to provide
you with reasonable technical support and the Company’s help desk shall be available to provide technical assistance to you as reasonably requested. The Company further agrees to maintain your Company e-mail address during the Term. 

6. Relationship. It is the intention of the parties to this letter agreement that, during the Term, you will not be an
employee of the Company and nothing in this letter shall be construed to create an employment relationship between you and the Company following the Termination Date. You recognize, acknowledge and agree that all income paid to you under this letter
agreement shall constitute income from self-employment and you shall be required to pay self-employment taxes pursuant to Section 1401 of the Internal Revenue Code. You recognize, acknowledge and agree that the Company, its officers, directors,
and employees shall have no obligation or liability whatsoever to you, your heirs, administrators, assigns, or creditors for workers’ compensation, federal and state payroll taxes, unemployment compensation, minimum wages, Social Security
assessments or similar charges, taxes or liabilities applicable to an employment relationship. 
 7. Future
Cooperation. In connection with any and all claims, disputes, negotiations, investigation, lawsuits or administrative proceedings involving the Company, you agree to make yourself available, upon reasonable notice from the Company, and
without the necessity of subpoena, to provide information or documents, provide declarations or statements to the Company, meet with attorneys or other representatives of the Company, prepare for and give depositions or testimony, and/or otherwise
cooperate in the investigation, defense or prosecution of any or all such matters. The Company will reimburse you for all documented, out-of-pocket expenses you incur in providing such cooperation to the Company. Any reimbursement payable pursuant
to this section shall be paid as soon as administratively feasible upon your request. Notwithstanding anything in this agreement to the contrary, you and the Company agree that the obligations imposed upon you under this section shall survive the
expiration of the Term. 
 [Remainder of page intentionally left blank] 

 James S. McElya 
 October 1, 2012 
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 3
 

                         
        
  

8. Governing Law. This letter agreement will be governed by and construed in accordance with the laws of the State of
Michigan. 
  

	
	 Sincerely,

	
	 Cooper-Standard Holdings Inc.

	 Cooper-Standard Automotive Inc.

	
	 /s/ David J. Mastrocola

	David J. Mastrocola
	 Lead Director

 This letter agreement correctly reflects our understanding, and I hereby confirm my agreement to the same as of the date
set forth above. 
  

	
	 /s/ James S. McElya

	James S. McElyaEX-10.2

 Exhibit 10.2 

 

			
	

	  	World Headquarters

 October 1, 2012 
 Jeffrey S. Edwards 
 4514 Cross Creek Drive 

Ann Arbor, MI 48108 
 Dear Jeff: 

On behalf of Cooper-Standard Holdings Inc. (the “Company”), and at the direction of the Company’s Board of Directors (the
“Board”), I am pleased to offer you the position of President and Chief Executive Officer of the Company and Cooper-Standard Automotive Inc., the Company’s principal operating entity (“CS Automotive”), on the terms provided
below. 
 1. Title, Reporting Responsibility. As President and Chief Executive Officer of the Company and CS Automotive, you will report
to the Board and will be responsible for the supervision and control of all the business and affairs of the Company and CS Automotive, subject to direction from the Board. In addition, you will be appointed to the Board of Directors of both the
Company and CS Automotive. 
 2. Term of Employment. Your employment will commence between October 15 and November 1, 2012, on
a date to be determined by you. Your employment is not for any specific duration and may be terminated at will by either you or the Company. 

3. Base Salary. Your base salary from the date you commence your employment through 2013 will be at the rate of $800,000 per year and, thereafter,
will be reviewed annually consistent with the Company’s practice for other senior executives. 
 4. Annual Incentive Plan. You will
eligible for an incentive cash bonus beginning in 2013 pursuant to the Cooper-Standard Automotive Inc. Annual Incentive Plan (“AIP”). Your target annual bonus for 2013 will equal 100% of your annual base salary. Bonus payouts will be
dependent on the achievement of performance targets for the year established by the Compensation Committee of the Board and approved by the Board. As a reference, for 2012, AIP participants will receive 50% of their target bonuses upon achieving 80%
of the performance target (the threshold level for receiving a bonus) with the opportunity to receive 200% of the target amount (the maximum bonus) upon achieving 120% or more of the performance target which, in the case of the CEO, is based on 2012
Company-wide adjusted EBITDA. For the period beginning with the commencement of your employment through the end of 2012, you will be eligible for a partial-year bonus, at the discretion of the Board. 

5. Omnibus/Long-Term Incentive Plans. You will also be eligible for long-term incentive awards under the Cooper-Standard Holdings Inc. 2011
Omnibus Incentive Plan (the “Omnibus Plan”) and the Cooper-Standard Automotive Inc. Long-Term Incentive Plan (together, the “LTIP”). In recent years, LTIP awards have included both a cash and an equity component. As a reference,
in 2012, the LTIP awards granted to the Company’s senior management team consisted of (i) a cash component dependent on the achievement of performance objectives over a three-year period, equal to 50% of the total LTIP target amount (with

 39550 Orchard Hill Place Drive — Novi, MI 48375 — Phone: (248) 596-5900 — Fax: (248) 596-6550 

 Jeffrey S. Edwards 
 October 1, 2012 
  Page
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adjustments discussed below), (ii) restricted stock units vesting three years following the date of grant, with a market value at the time of the grant equal to 20% of the total LTIP target
amount, and (iii) stock options with an exercise price equal to the market price of the Company’s common stock on the date of grant, vesting three years following the date of grant, with a value equal to 30% of the total LTIP target amount
at the time of the grant using valuation principles consistent with GAAP. Similar to the 2012 AIP grants, the 2012 LTIP grants were structured so that actual payouts of the cash component will fall in a range between 50% and 200% of the target cash
component provided that 80% or more of the applicable performance target (based on Company-wide operating cash generation over the 3-year period) is achieved. 
 In the first quarter of 2013, you will receive LTIP awards designed to have an aggregate value, at the time of grant, equal to 250% of your annual base salary. In addition, in the event the Fair Market
Value (as defined in the Omnibus Plan) of the Company’s common stock appreciates during the period beginning on the date of this letter and ending on the date of your 2013 LTIP grant (the “Interim Period”), the equity portion of your
2013 LTIP grant (your “Base 2013 Equity Award”) will be supplemented by an additional equity award having a value equal to your Base 2013 Equity Award multiplied by a fraction, the numerator of which is the amount by which the Fair Market
Value of the Company’s common stock appreciated during the Interim Period and the denominator of which is the Fair Market Value of the Company’s common stock on the last trading day prior to the commencement of the Interim Period.

 6. Special Initial Equity Awards. In addition to your eligibility for equity awards under the LTIP, you will be granted the
following special equity award upon the commencement of your employment: 
  

	 	•	 	 An option to purchase 125,000 shares of the Company’s common stock at an exercise price of $45.00 per share (or the Fair Market Value of the
Company’s common stock on the date of grant in the event it is higher than $45.00), vesting ratably over five years (20% per year on each anniversary of the grant) subject to your continued employment with the Company and expiring seven years
after the grant date. 

  

	 	•	 	 An option to purchase 125,000 shares of the Company’s common stock at an exercise price of $52.50 per share (or the Fair Market Value of the
Company’s common stock on the date of grant in the event it is higher than $52.50), vesting ratably over five years (20% per year on each anniversary of the grant) subject to your continued employment with the Company and expiring seven years
after the grant date. 

 The options that will be part of this special initial equity award will vest 100% immediately upon a
“change of control” of the Company as defined in the Omnibus Plan. 
 7. Benefits and Perquisites. You will be eligible to
participate in the Company’s health, welfare and retirement benefit programs, including the Company’s 401(k) Enhanced Investment Savings Plan and the Company’s Supplemental Executive Retirement Plan, on the same terms as similarly
situated employees of the Company. Health and welfare benefit eligibility begins on the first day of the month following or coinciding with your employment commencement date. You will also be eligible to participate in the Company’s
Executive-level leased vehicle program. 

 Jeffrey S. Edwards 
 October 1, 2012 
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 8. Executive
Severance Pay Plan. You will be eligible for coverage under the Cooper-Standard Automotive, Inc. Executive Severance Play Plan, as may be amended from time to time (the “Severance Plan”). Under the current terms of the Severance Plan,
you will be eligible to receive severance pay equal to two times your annual compensation (base pay plus your prior year’s annual bonus target) and other benefits if your employment is terminated by the Company without “cause” (as
defined in the Severance Plan), regardless of whether there has been a change of control of the Company. Any severance paid under the Severance Plan shall be subject to the terms and conditions of the Severance Plan. 

9. Other Agreements and Requirements. As discussed, upon acceptance of the Company’s offer of employment, you will be required to sign the
attached confidentiality and non-competition agreement. In addition, you will also be subject to all Company policies applicable to the Company’s employees, including but not limited to the Code of Business Conduct and Ethics of Cooper-Standard
Holdings Inc. and Cooper-Standard Automotive Inc. 
 10. At Will Statement. Please understand that this offer does not constitute a
contract or a guarantee of continued employment for any period of time. This offer supersedes any oral or prior written “offers” or verbal discussions that you have had with the Company related to employment with the Company. Any changes
to this offer must be in writing and signed by you and an authorized representative of the Company. As is the case throughout the Company, employment is “at will” and may be terminated by either you or the Company at any time for any
reason. Please note that the Company reserves the right to amend or terminate any or all of its employee benefit plans, compensation programs and corporate policies at any time, in its sole discretion. 

We are extremely pleased that you share our enthusiasm about Cooper Standard’s future, and look forward to your leadership as we work together to
accomplish the Company’s goals. This letter agreement is intended to be a binding obligation upon both the Company and you. If this letter agreement correctly reflects your understanding, please sign and return one copy to me for the
Company’s records. 
  

	
	 Sincerely,

	
	 Cooper-Standard Holdings Inc.

	
	 /s/ David J. Mastrocola

	David J. Mastrocola
	 Lead Director

 This letter agreement correctly reflects our understanding, and I hereby confirm my agreement to the same as of the date
set forth above. 
  

	
	 /s/ Jeffrey S. Edwards

	Jeffrey S. Edwards

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