Document:

Separation Agreement dated 1/10/04 by Global Power Equipment Group, Inc.

 EXHIBIT 10.1 
  
 SEPARATION AGREEMENT AND RELEASE 
  
 THIS SEPARATION AGREEMENT AND RELEASE (this “Agreement”) is made and entered into as of the 30th day of January, 2004, by and between GLOBAL POWER EQUIPMENT GROUP INC., a Delaware corporation (“Employer”), and
GARY J. OBERMILLER, an individual (“Employee”). 
  
 WHEREAS, Employee is employed by Employer, and Employee has voluntarily agreed to resign as President and Chief Operating Officer of Employer and retire from his employment with Employer and all other positions that the Employee holds with
the Employer and its affiliates effective January 31, 2004 (the “Termination Date”); and 
  
 WHEREAS, Employer and Employee wish to achieve a final and amicable resolution of all issues related to their employment relationship; 
  
 NOW, THEREFORE, for and in consideration of the mutual covenants and promises
set forth below, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

1. Employee’s Termination. Employee and Employer confirm and agree that Employee will retire from his employment with Employer as of the
Termination Date and that the employment relationship which existed between Employee and Employer and/or any of Employer’s affiliated companies will cease as of the Termination Date. However, nothing contained herein shall prevent or interfere
with the ability of the parties to enter into agreements for Employee to provide consulting services and advice to Employer or Employer’s affiliates on an independent contractor basis (a “Subsequent Agreement”), including without
limitation the Consulting Services Agreement being executed by Employer and Employee concurrently herewith. Except as set forth in Employer’s 2003 Management Incentive Compensation Plan, the 2000 Option Plan of GEEG Holdings, L.L.C., as
amended, and the 2001 Stock Option Plan of Employer or as provided in any Subsequent Agreement, all of Employer’s obligations to Employee on or after the Termination Date are set forth herein. Accordingly, except as otherwise provided herein or
in a Subsequent Agreement, Employer shall have no further obligations whatsoever to Employee after the Termination Date. Employer shall cause its personnel records to reflect that Employee terminated his employment with Employer effective on the
Termination Date. The Employment Agreement dated as of May 1, 2002, between Employer (as assignee of Deltak, LLC) and Employee (the “Employment Agreement”) shall terminate effective upon the Termination Date and shall be of no further
force or effect. 
  
 2. Lump Sum Payment. Within 19 days
after the Termination Date and so long as Employee executes and delivers to Employer the Release attached as Exhibit A hereto (the “Release”) on January 30, 2004, and does not rescind or revoke the Release pursuant to the provisions
thereof, Employer shall pay to Employee a lump sum amount of $1,163,910.00, less applicable withholding taxes, in consideration of the Release and the acknowledgements, waivers, representations and undertakings specified in this Agreement and in the
Release. Such amount is equal to the sum of (a) $1,038,910.00, which is the portion of such amount that is 

 based on the discontinuation of Employee’s compensation from Employer after the Termination Date, plus (b)
$125,000.00, which is the portion of such amount that is based on the discontinuation of benefits offered to Employee by Employer after the Termination Date. Employee acknowledges that such lump sum amount is consideration to which he is not
otherwise entitled under any plan or program of Employer or prior agreement with Employer including without limitation the Employment Agreement. Anything in this Agreement to the contrary notwithstanding, Employer shall be under no obligation to pay
such lump sum amount to Employee if (i) Employee does not execute and deliver the Release to Employer on January 30, 2004, or (ii) Employee revokes the Release pursuant to the terms thereof. 
  
 3. Base Salary and MIC Plan. Employer will continue to pay to Employee
his current base salary through the Termination Date, less applicable withholding taxes. Employer will also pay to Employee the bonus to which Employee is entitled for fiscal year 2003 under Employer’s 2003 Management Incentive Compensation
Plan (the “MIC Plan”), less applicable withholding taxes, at the time the amount thereof is determined and is payable under the terms of the MIC Plan. 
  

4. Stock Options. Employee has been granted certain non-qualified stock options pursuant to the 2000 Option Plan of GEEG Holdings, L.L.C. (a
predecessor to Employer), as amended (the “2000 Plan”), and the 2001 Stock Option Plan of Employer (the “2001 Plan”). Except as hereinafter provided, nothing in this Agreement shall affect any rights or obligations of Employee or
Employer under the Non-Qualified Stock Option Agreements entered into by Employee pursuant to the 2000 Plan or the 2001 Plan. Effective as of the Termination Date: (a) Employer hereby accelerates the vesting of all of Employee’s unvested
options under the 2001 Plan and (b) Employer and Employee hereby agree that the Non-Qualified Stock Option Agreement(s) entered into by Employee with respect to all outstanding stock options granted to Employee under the 2001 Plan shall be deemed to
have been amended accordingly. The parties acknowledge that all of Employee’s outstanding stock options under the 2000 Plan are vested and that, therefore, the vesting thereof does not require acceleration. 
  
 5. Officer Matters. Employee shall resign from all employee, officer,
director and committee member positions which Employee holds with Employer or any affiliate of Employer effective as of the Termination Date. Nothing in this Agreement shall affect any of Employee’s rights or obligations with respect to
indemnification or director and officer liability insurance coverage to which Employee is entitled or subject in his capacity as a former officer of Employer or a former officer or director of any affiliate of Employer. Employee shall be entitled to
the rights to indemnification and director and officer liability insurance coverage that Employer provides to other former officers of Employer and to former officers and directors of any affiliate of Employer. In addition, to the extent permitted
by law, Employee, as a former officer of Employer, shall be entitled to the same indemnification rights that are provided to Employee pursuant to Employer’s Certificate of Incorporation and Bylaws as of the date hereof. 
  
 6. Accrued Vacation Pay. On the Termination Date, Employer shall
compensate Employee for all of Employee’s accrued, but unused, vacation time through the Termination Date in accordance with the policies of Employer. 
  

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 7. Other Benefits. Except as specifically set forth in this Agreement, all employment benefits
previously made available to Employee by Employer or any of its affiliates shall terminate on the Termination Date. None of this Agreement or the Release delivered pursuant to Section 2 of this Agreement shall waive Employee’s right to any
accrued benefit (a) under an Employer plan in which he is a qualified participant or (b) to which he is entitled by law, including but not limited to rights under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).

  
 8. Release. In consideration for the lump sum payment
set forth in Section 2 of this Agreement, the Employee agrees, as of January 30, 2004, to execute the Release. 
  
 9. Disclosure; No Disparagement. Employee and Employer will use good faith efforts to agree on the language of the press release to be used in
announcing the termination of Employee’s employment with Employer; provided, however, that it is understood that Employer shall be permitted to make such truthful disclosure as may be required under federal securities laws. Employer agrees that
it will instruct its officers and directors not to criticize, denigrate or disparage Employee, either orally or in writing; provided, however, that it is understood that Employer shall be permitted to make such truthful disclosure as may be required
under federal securities laws. Employee agrees that Employee will not criticize, denigrate or disparage the Employer or any of its current or former representatives, officers, directors, shareholders, predecessors, successors, agents, subsidiaries,
operating units, affiliates, divisions, employees, attorneys or their products and services, either orally or in writing; provided, however, that it is understood that Employee shall be permitted to make such truthful disclosure as may be required
by law. 
  
 10. Cooperation in Litigation. To the extent
reasonable and upon reasonable notice, following the Termination Date, Employee will cooperate with Employer and its affiliates in connection with the prosecution or defense of any claim asserted by or against any of them (excluding a claim in
connection with the enforcement of this Agreement) with respect to which Employee may have any knowledge as a result of his employment with Employer or any of its affiliates. 
  
 11. Independent Legal Advice. Employee acknowledges that he has been advised to consult with legal counsel prior to
executing this Agreement and the Release and that he has had the opportunity to be represented by independent legal counsel of his choice with respect to the advisability of signing this Agreement and providing the releases, waivers,
acknowledgements, representations and undertakings specified herein, and with respect to his rights and obligations under the terms of this Agreement. 
  
 12. Knowledge of Contents. Each party acknowledges that such party has carefully read this Agreement and that the contents hereof are known and
understood by such party. This Agreement is signed freely by each party hereto. 
  
 13. No Admission of Liability. This Agreement and compliance with this Agreement shall not be construed as an admission by Employer or Employee of any liability whatsoever, or as an admission by Employer of any
violation of the rights of Employee or any other person, or any violation of any order, law, statute, duty or contract. 
  

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 14. Severability. In the event that any provision of this Agreement or the Release should be held
to be void, voidable, or unenforceable, the remaining portions hereof and thereof shall remain in full force and effect. 
  
 15. Governing Law. Except to the extent preempted by federal law, this Agreement and the Release shall be governed in all respects, including
validity, interpretation and effect, by the laws of the State of Minnesota, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. 
  
 16. Prior Agreements Superseded; Entirety and Integration. Except as otherwise specifically provided herein, this
Agreement supersedes and replaces all other prior agreements, written or oral, relating to Employee’s employment with Employer and/or any of Employer’s affiliated companies, including without limitation the Employment Agreement; provided,
that, notwithstanding the foregoing, the Employment Agreement shall remain in effect until the Termination Date and the provisions of Sections 3, 4, 5, 7(g), and 7(i), of the Employment Agreement shall remain in full force and effect after the
Termination Date in accordance with their terms. Upon the execution hereof by all of the parties hereto, this Agreement shall constitute a single, integrated contract expressing the entire agreement of the parties relative to the subject matter
hereof and, except as otherwise specifically noted herein, supersedes all prior negotiations, understandings and/or agreements, if any, of the parties. No covenants, agreements, representations, or warranties of any kind whatsoever have been made by
any party hereto, except as specifically set forth in this Agreement. 
  
 17. Binding Effect; Amendments; Counterparts. This Agreement and the Release will be binding upon, and inure to the benefit of, Employer and Employee and their respective successors and assigns. This Agreement may not be modified or
amended except by an instrument in writing signed by both Employee and a duly authorized representative of Employer. This Agreement may be executed in one or more counterparts, which shall, collectively and separately, constitute one agreement.

  
 18. Effectiveness. This Agreement shall be void and of
no force or effect if Employee does not execute and deliver this Agreement and the Consulting Services Agreement referred to in Section 1 above to Employer on or before the Termination Date. 
  
 19. 21-Day Period. As permitted by 29 CFR Section 1625.22(e)(4),
Employer and Employee acknowledge and agree that the changes made to this Agreement from the original version of this Agreement that was presented to Employee on January 7, 2004, do not restart the running of the 21-day period within which Employee
had to review this Agreement. 
  
 20. Outplacement Services;
Tax Preparation. Employer will provide outplacement services through the normal provider of Deltak, LLC, Employers Association, Inc. (“EA”), for a period of one year to begin within nine months of the Termination Date at a fee not to
exceed $3,500. Employer will pay Employee’s reasonable costs incurred as part of the preparation of his personal income tax returns for 2003 and 2004; provided, however, in no event shall Employer pay in excess of $2,000 of such costs.

  

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 21. Attorney’s Fees. Employer will pay the reasonable legal costs incurred by Employee in
connection with the negotiation and preparation of this Agreement (approximately $5,000); provided, however, in no event shall Employer pay in excess of $5,000 of such costs. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the applicable date set forth below. 

 

			
	 “Employer”

	
	 Global Power Equipment Group Inc.

		
	 By:
	 	 /s/ John M. Matheson

	 	 	 John M. Matheson

	 	 	 Vice President and General Counsel

	 Date of Signature: January 30, 2004

	
	 “Employee”

	
	 /s/ Gary J. Obermiller

	 Gary J. Obermiller

	 Date of Signature: January 30, 2004

  

			
		
	Exhibit A	  	Release

  

 5Consulting Agreement dated 1/30/04 by Global Power Equipment Group, Inc.

 EXHIBIT 10.2 
  
 CONSULTING SERVICES AGREEMENT 
  

THIS CONSULTING SERVICES AGREEMENT (this “Agreement”) is entered into as of the 30th day of January, 2004, by and between Global Power Equipment Group Inc., a Delaware corporation (the “Company”), and Gary J. Obermiller, an
individual (“Consultant”). 
  
 WHEREAS, the Company and
its subsidiaries are engaged in the businesses of designing, engineering and fabricating equipment for gas turbine power plants and power-related equipment for industrial operations and providing related value-added services including engineering,
retrofit and upgrade, and maintenance and repair, such businesses being conducted on a worldwide basis; and 
  
 WHEREAS, Consultant has significant experience and expertise in operational, management and other matters related to the Company and its subsidiaries on
account of his service as the President and Chief Operating Officer of the Company and his prior service as Senior Vice President of the Company and President of Deltak, LLC, a wholly owned subsidiary of the Company; and 
  
 WHEREAS, pursuant to the Separation Agreement and Release, dated January 30,
2004, between the Company and Consultant (the “Separation Agreement”), Consultant has agreed to retire from the Company effective January 31, 2004; and 
  
 WHEREAS, the Company and its subsidiaries wish to obtain certain consulting services from Consultant in connection with
their business activities after such retirement and Consultant is willing to provide such services to the Company and its subsidiaries on the terms specified herein; 
  
 NOW, THEREFORE, for and in consideration of the premises and the mutual promises and covenants hereinafter set forth, the
parties hereto agree as follows: 
  
 1. Services. The
services to be provided by Consultant will consist of assistance in connection with operational and management matters related to the Company and its subsidiaries normally performed by the President and COO of Global or the President of Deltak
(“Services”). All Services will be rendered at the request and under the general direction of the Company’s Chief Executive Officer and other executives of the Company. The Company will provide Consultant such information about the
business activities of the Company and its subsidiaries as Consultant may reasonably require in order to carry out the Services. 
  
 2. Standard of Performance. All Services will be performed by Consultant with a level of skill and care generally exercised by employees or other
consultants engaged in performing the same or similar services. In performing the Services, Consultant will comply fully with all applicable laws. 
  
 3. Relationship. The relationship between the Company and Consultant will be that of independent contractors and Consultant will not be or be
deemed to be a partner, agent or 

 employee of the Company or any of its subsidiaries. Consultant will not be eligible to participate in any employee
pension, insurance, medical, retirement or other employee benefit plan of the Company or any of its subsidiaries on account of the provision of Services pursuant to this Agreement. Consultant shall have no authority to act as an agent of the
Company, except on authority specifically so delegated, and Consultant shall not represent to the contrary to any person. Consultant shall only consult, render advice and perform such tasks as Consultant determines are necessary to achieve the
results specified by the Company. Consultant shall not direct the work of any employee of the Company, or make any management decisions, or undertake to commit the Company to any course of action in relation to third persons. Although the Company
may specify the results to be achieved by Consultant and may control and direct him in that regard, the Company shall not control or direct the Consultant as to the details or means by which such results are accomplished. 
  
 4. Term. This Agreement will become effective on February 1, 2004 and,
except as provided below, will continue until January 31, 2005; provided, however, that this Agreement shall terminate and be of no force or effect if Consultant exercises any right of rescission or revocation under the Separation Agreement or the
Release contemplated thereby or if Consultant fails to execute and deliver such Release to the Company on January 30, 2004. This Agreement and Consultant’s retention hereunder may be terminated by the Company for “Cause” (as defined
below). In the event of a termination by the Company for Cause, neither the Company nor the Consultant shall have any further obligations hereunder, except as set forth in Sections 10, 11, 12 and 13 hereof. For purposes of this Agreement,
“Cause” shall mean Consultant’s (i) gross malfeasance or gross misfeasance in the performance of his services to the Company, (ii) continued failure to perform the services to the Company reasonably requested of him hereunder, other
than due to Consultant’s death or physical or mental incapacity, (iii) engagement in any felonious acts or other acts showing dishonesty or moral turpitude or (iv) breach of the covenants set forth in Sections 10, 11 or 12 hereof. 

 
 5. Availability. Upon reasonable advance notice, Consultant will be
available to perform Services for a cumulative period of up to 40 hours per week and may, upon mutual agreement, provide Services in excess of 40 hours per week. For purposes of Paragraph 4(ii) of this Agreement, Consultant’s refusal to provide
services in excess of 40 hours per week shall not be deemed a failure to perform services to the Company reasonably requested of him. 
  
 6. Compensation. The Company will pay Consultant an aggregate fee of $415,565.00 in consideration of Consultant’s performance of the Services.
Such fee will be payable on the last day of each calendar month in 12 equal installments beginning on February 28, 2004; provided, however, that, at the Company’s discretion, such payment may be accelerated based upon substantial completion of
assignments, satisfactory performance and other factors, but in no event shall the aggregate amount of payment be less than $415,565.00. In the event of Consultant’s death during the term of this Agreement, the unpaid portion of such fee shall
be paid to Consultant’s estate in accordance with the above payment schedule. In the event of Consultant’s inability to perform the Services during the term of this Agreement on account of disability or incapacity, Consultant shall not be
in breach of this Agreement on account thereof and the Company shall continue to make the payments to Consultant called for by this Section 6. 
  

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 7. Expenses and Facilities. The Company will reimburse Consultant for all reasonable business
expenses paid or incurred by Consultant directly in connection with the performance of the Services. In addition, while this Agreement remains in effect and during the time that the Company has requested that Consultant perform any Services, the
Company will make available to Consultant without charge appropriate office space, office equipment and clerical assistance for use in connection with Consultant’s performance of such Services. During the term of this Agreement, Consultant will
retain possession of the portable computer obtained by Consultant from the Company. Upon the expiration of the term of this Agreement, Consultant will retain possession of such portable computer after removal therefrom of all property and software
owned or licensed by the Company, including all Confidential Information (as hereinafter defined). 
  
 8. Taxes. Consultant will pay and be fully responsible for all taxes attributable to the compensation payable to Consultant hereunder, including,
without limitation, income, Social Security and Medicare taxes. To the extent consistent with applicable law, the Company will not withhold any amounts payable to Consultant as federal income tax withholding from wages or as employee contributions
under the Federal Insurance Contributions Act or any other state or federal laws. 
  
 9. Insurance. While this Agreement remains in effect, Consultant will maintain in force or cause to be maintained in force with respect to any automobile operated by Consultant automobile liability insurance
with limits of not less than $100,000 for any one person for bodily injury or death, $300,000 for any one accident for bodily injury or death and $50,000 for property damage. Consultant will provide the Company evidence of such insurance upon its
request. 
  
 10. Work Product. Consultant agrees that all
inventions, drawings, improvements, developments, methods, processes, programs, designs and all similar or related information which relates to the Company’s or any of its subsidiaries’ actual or anticipated business or research and
development or existing or future products or services and which are conceived, developed, contributed to or made by Consultant (either solely or jointly with others) during the term of this Agreement or during his prior employment with the Company
(“Work Product”) will be the sole and exclusive property of the Company or any such subsidiary. Consultant will promptly disclose such Work Product to the Company and perform all actions requested by the Company (whether during or after
the term of this Agreement) to establish and confirm such ownership (including, without limitation, assignments, consents, powers of attorney and other instruments). 
  
 11. Confidential Information. 
  
 (a) Consultant acknowledges that: 
  

(i) the Work Product, artificial intelligence systems, information, customer lists, goodwill, observations and data disclosed to,
developed by or obtained by him during the term of this Agreement or during his prior employment with the Company concerning the business or affairs of the Company or any such subsidiary (including without limitation the Company’s and its
subsidiaries’ technology, methods of doing 
  

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 business and supplier and customer information) (collectively, “Confidential Information”) are
highly confidential and uniquely valuable to the Company and its subsidiaries; 
  
 (ii) such Confidential Information is and will continue to be the property of the Company or any such subsidiary; 
  
 (iii) the Company and each of its subsidiaries has a
proprietary interest in their respective Confidential Information, including without limitation the identity of their respective customers and suppliers, solicited customers, customer and supplier lists; 
  
 (iv) the continued success of the Company and its
subsidiaries depends in large part on keeping the Confidential Information from becoming known to competitors of the Company and its subsidiaries; and 
  
 (v) the Company and its subsidiaries will be irreparably harmed by disclosure of any Confidential Information. 
  
 (b) Therefore, Consultant agrees: 
  
 (i) That, during the term of this Agreement and for all
times thereafter, except as required by law or court order, he will not directly or indirectly disclose to any unauthorized person or use for his own account any Confidential Information without the prior written consent of the Company, unless and
to the extent that the aforementioned matters become generally known to and available for use by the public other than as a result of Consultant’s acts or omissions to act; 
  
 (ii) To use his best efforts and diligence to safeguard the Confidential Information and to protect it
against disclosure, misuse, espionage, loss or theft; 
  
 (iii) That upon the expiration of the term of this Agreement or at any other time the Company may request, for whatever reason, Consultant will deliver (and in the event of Consultant’s death or incapacity, his representative will
deliver) to the Company all computer equipment or backup files of or relating to the Company and its subsidiaries, all memoranda, correspondence, customer data, notes, plans, records, reports, manuals, photographs, computer tapes and software and
other documents and data (and copies thereof) relating to the Confidential Information, the Work Product or the business of the Company or any of its subsidiaries which he may then possess or have under his control; provided that after removal by
the Company of Confidential Information, if any, Consultant’s portable computer shall be returned to Consultant pursuant to Paragraph 7 of this Agreement. If the Company requests, Consultant (or his representative) agrees to provide written
confirmation that Consultant has returned all such materials to the Company or one of its subsidiaries; and 
  
 (iv) That upon the expiration of the term of this Agreement or at any other time the Company may request, for whatever reason, Consultant
will assign all rights, title and interest in the Confidential Information, the Work Product, all computer equipment or backup files of or relating to the Company or any of its subsidiaries, all 
  

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 memoranda, correspondence, customer data, notes, plans, records, reports, manuals, photographs, computer
tapes and software and other documents and data (and copies thereof) relating to the Confidential Information, the Work Product or the business of the Company or any of its subsidiaries which Consultant may then possess, has under his control, or
has ever developed, obtained, or contributed to during his tenure with the Company. 
  
 12. Noncompete; Nonsolicitation. 
  
 (a) Consultant agrees that, during the term of this Agreement (the “Restricted Period”), he will not directly or indirectly own, operate, manage, control, participate in, consult with, advise, provide
services for, or in any manner engage in any business (including by himself or in association with any person, firm, corporate or other business organization or through any other entity) in competition with the businesses of the Company or any of
its subsidiaries as such businesses exist during the term of this Agreement, within the United States or any other geographical area in which the Company or any of its subsidiaries engages in such businesses. Nothing herein will prohibit Consultant
from being a passive owner of not more than 2% of the outstanding stock of a corporation which is publicly traded, so long as Consultant has no active participation in the business of such corporation. 
  
 (b) During the Restricted Period, Consultant will not directly or indirectly
through another entity (i) induce or attempt to induce any employee of the Company or any of its subsidiaries to leave the employ of the Company or any such subsidiary, or in any way interfere with the relationship between the Company or any of its
subsidiaries and any employee thereof, including without limitation, inducing or attempting to induce any union, employee or group of employees to interfere with the business or operations of the Company or any of its subsidiaries, (ii) hire any
person who was an employee of the Company or any of its subsidiaries at any time during Consultant’s employment period, or (iii) induce or attempt to induce any customer, supplier, distributor, franchisee, licensee or other business relation of
the Company or any of its subsidiaries to cease doing business with the Company or any such subsidiary, or in any way interfere with the relationship between any such customer, supplier, distributor, franchisee, licensee or business relation and the
Company or any of its subsidiaries. 
  
 (c) Consultant agrees
that: (i) the covenants set forth in this Section 12 are reasonable in geographical and temporal scope and in all other respects, (ii) the Company would not have entered into this Agreement but for the covenants of Consultant contained herein, and
(iii) the covenants contained herein have been made in order to induce the Company to enter into this Agreement. 
  
 (d) If, at the time of enforcement of this Section 12, a court shall hold that the duration, scope or area restrictions stated herein are unreasonable
under circumstances then existing, the parties agree that the maximum duration, scope or area reasonable under such circumstances will be substituted for the stated duration, scope or area and that the court will be allowed to revise the
restrictions contained herein to cover the maximum period, scope and area permitted by law. 
  

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 13. Remedies. Consultant recognizes and affirms that in the event of his breach of any provision
of Section 10, 11 or 12 hereof, money damages would be inadequate and the Company would have no adequate remedy at law. Accordingly, Consultant agrees that in the event of a breach or a threatened breach by Consultant of any of the provisions of
Section 10, 11 or 12 hereof the Company, in addition and supplementary to other rights and remedies existing in its favor, may apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive or other relief
in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security). 
  
 14. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be
in writing and delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, sent via a nationally recognized overnight courier, charges prepaid, or sent via facsimile. Such notices, demands and other
communications will be sent to the address indicated below: 
  
 To the Company: 
  
 Global Power Equipment Group Inc. 
 6120 South Yale, Suite 1480 
 Tulsa, OK 74136 
 Attention: General Counsel 
 Facsimile No.: (918) 274-2367 
  
 To the Consultant: 
  
 Gary J. Obermiller 
 825 Brockton Lane 
 Plymouth, Minnesota 55447 
  
 or such other address or to the attention
of such other person as the recipient party will have specified by prior written notice to the sending party. Any such notice, demand or other communication will be deemed to have been received (a) when delivered, if personally delivered, or sent by
nationally-recognized overnight courier or sent via facsimile or (b) on the third business day following the date on which the piece of mail containing such notice, demand or other communication is posted if sent by certified or registered mail.

  
 15. Severability. If any provision or clause of this
Agreement, or portion thereof shall be held by any court or other tribunal of competent jurisdiction to be illegal, invalid, or unenforceable in such jurisdiction, the remainder of such provision will not be thereby affected and will be given full
effect, without regard to the invalid portion. It is the intention of the parties that, if any court construes any provision or clause of this Agreement, or any portion thereof, to be illegal, void or unenforceable because of the duration of such
provision or the area matter covered thereby, such court will reduce the duration, area, or matter of such provision, and, in its reduced form, such provision will then be enforceable and will be enforced. 
  
 16. Assignment. All rights and obligations herein contained will inure
to the benefit of and be binding upon the Company, Consultant, their successors and their permitted assigns. Consultant will not assign any rights or obligations under this Agreement without the prior written consent of the Company. The Company may
assign the rights or obligations under this Agreement to any successor in interest to the Company. 
  

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 17. Governing Law. Except as otherwise provided below, this Agreement shall be governed in all
respects, including validity, interpretation and effect, by the laws of the State of Minnesota, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. It is acknowledged, however, that the terms
and provisions of this Agreement have been arrived at in good faith by the parties hereto, and the parties intend that this Agreement shall be fully enforceable. To that end the parties agree that to the extent that this Agreement or some aspect
thereof or the performance or breach thereof bears a reasonable relationship to a jurisdiction other than the State of Minnesota and if the same shall be enforceable under the laws of such jurisdiction but not the State of Minnesota, the laws of the
jurisdiction in which such enforceability prevails shall govern their rights and duties in that regard. 
  
 18. Entire Agreement and Waiver. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes any other understanding entered into by or on account of the parties with respect to the subject matter hereof to the extent inconsistent herewith. This Agreement may not be changed, modified or amended except in writing signed
by the parties hereto. The failure of either party to exercise any rights under this Agreement for a breach thereof will not be deemed to be a waiver of such rights or a waiver of any subsequent breach. 
  
 19. Effectiveness; Counterparts. This Agreement shall be void and of
no force or effect if Consultant does not execute and deliver this Agreement and the Separation Agreement to the Company on or before January 30, 2004 or revokes the Release (as defined in the Separation Agreement). This Agreement may be executed in
one or more counterparts, which shall, collectively and separately, constitute one agreement. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the applicable date set forth below. 
  

					
	 “Company”
	 	 “Consultant”

		
	 Global Power Equipment Group Inc.
	 	 
			
	 By:
	 	 /s/ John M. Matheson

	 	 /s/ Gary J. Obermiller

	 	 	 John M. Matheson
	 	 Gary J. Obermiller

	 	 	 Vice President and General Counsel
	 	 Date of Signature: January 30, 2004

	 	 	 Date of Signature: January 30, 2004
	 	 

  

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