Document:

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                                                                   EXHIBIT 10.10

                              EMPLOYMENT AGREEMENT

      This EMPLOYMENT AGREEMENT is dated as of August 1, 2000, by and among GEEG
Holdings, L.L.C., a Delaware limited liability company ("Holdings"), Braden
Manufacturing, L.L.C., a Delaware limited liability company (the "Company"), and
James P. Wilson (the "Executive"). Capitalized terms used but not otherwise
defined herein shall have the meaning assigned to such terms in Section 1.

      WHEREAS, Holdings, directly or indirectly, owns all of the issued and
outstanding membership interests of the Company;

      WHEREAS, Holdings, SMC Power Holdings LLC, GEEG Acquisition Holdings
Corp., and GEEG Acquisition, L.L.C. entered into an Agreement and Plan of
Merger (the "Merger Agreement") dated July 14, 2000, whereby GEEG
Acquisition, L.L.C. will be merged with and into Holdings (the "Merger");

      WHEREAS, Holdings, the Company and the Executive desire to enter into an
agreement regarding the employment by the Company of the Executive effective as
of the Closing Date of the Merger (as defined in the Merger Agreement) which
agreement shall supersede the Executive's current Employment Agreement, dated
June 8, 1998, between Holdings, the Company and the Executive (the "Old
Employment Agreement") and the other agreements described herein;

      WHEREAS, the Executive is entrusted with knowledge of the Company's
particular business methods and is trained and instructed in the Company's
particular operation methods and the relationship between the Company and the
Executive is one in which the Company places special trust and confidence in the
Executive; and

      WHEREAS, as of the date hereof, the Executive has entered into a
Repurchase Agreement (the "Repurchase Agreement") pursuant to which Holdings has
issued to the Executive a number of Holdings' Preferred Units and Class A Common
Units (collectively, the "Purchased Units").

      NOW, THEREFORE, in consideration of employment and in further
consideration of these mutual covenants and agreements, the parties hereto, each
intending to be bound, covenant and agree as follows:

      1.    Definitions.  As used herein, the following terms shall have the
following meanings:

            "Affiliate" means, when used with reference to a specified Person,
any Person that directly or indirectly controls or is controlled by or is under
common control with the specified Person. As used in this definition, "control"
(including, with its correlative meanings, "controlled by" and "under common
control with") shall mean possession, directly or indirectly, of power to direct
or cause the direction of management or policies (whether through ownership of
securities or partnership or other ownership interests, by contract or
otherwise). With respect to any
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Person who is an individual, "Affiliates" shall also include, without
limitation, any member of such individual's Family Group.

            "Benefits" has the meaning set forth in Section 2(c)(ii).

            "Board" means Holdings' Board of Directors.

            "Bonus" means awards under the MIC Plan or the New MIC Plan.

            "Bonus Year" means an annual bonus period under the MIC Plan or the
New MIC Plan.

            "Cause" means the occurrence of any one of the following as
determined by the Board: (i) a material breach of the Executive's covenants
under Section 4 or Section 5 of this Agreement; (ii) the commission by the
Executive of a felony, or any crime involving theft, dishonesty or moral
turpitude; (iii) the commission by the Executive of act(s) or omission(s) which
are willful and deliberate acts intended to harm or injure the business,
operations, financial condition or reputation of the Company, Holdings, any of
Holdings' equity holders, or any Affiliate of any of the foregoing; (iv) the
Executive's disregard of the directives of the Board; (v) the Executive's
drunkenness or use of drugs which interferes with the performance of the
Executive's duties under this Agreement, which drunkenness or use of drugs
continues after receipt of notice to the Executive from the Company of his
violation of this provision; or (vi) any attempt by the Executive to secure any
personal profit in connection with the business of the Company unless given
prior written approval by unanimous consent of the Board.

            "Confidential Information" has the meaning set forth in Section
4(a)(i).

            "Disability" means the inability, due to illness, accident, injury,
physical or mental incapacity or other disability, of the Executive to carry out
effectively his duties and obligations to the Company or to participate
effectively and actively in the management of the Company for a period of at
least 90 consecutive days or for shorter periods aggregating at least 150 days
(whether or not consecutive) during any twelve-month period, as determined in
the judgment of the Board.

            "Family Group" means, with respect to any Person who is an
individual: (i) such Person's spouse, former spouse and descendants (whether
natural or adopted), parents and their descendants and any spouse of the
foregoing persons (collectively, "relatives") or (ii) the trustee, fiduciary or
personal representative of such Person and any trust solely for the benefit of
such Person and/or such Person's relatives.

            "Good Reason" for resignation by the Executive means his resignation
because of: (i) a reduction in the annual base salary of the Executive, a
material reduction in the employee benefits granted to the Executive, or a
reduction in the Executive's percentage participation in the MIC Plan prior to
the approval and adoption of a New MIC Plan (as defined below) or a reduction in
the Executive's percentage participation in any New MIC Plan from the percentage
awarded to the Executive if and when a New MIC Plan is approved and adopted as
contemplated in clause (iii) below, (ii) a material modification to the MIC Plan
as in effect on the date hereof

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which adversely affects the determination of the Executive's bonus with respect
to the 2000 calendar year or thereafter if the MIC Plan continues to be in
effect for any calendar year after the 2000 calendar year unless such
modification is generally applicable to all participants in the MIC Plan and
such modification has been approved by (x) if the Board has less than three
Management Board Members, then all such Management Board Members or (y) if the
Board has three or more Management Board Members, then any two of such
Management Board Members, (iii) a material modification to the new Management
Incentive Plan which is agreed upon by the Board and the Company's Chief
Executive Officer and approved by the Board for years beginning after calendar
year 2000 (the "New MIC Plan"), as such New MIC Plan is in effect on the date of
such Board approval, which modification adversely affects the determination of
the Executive's bonus for any calendar year for which such New MIC Plan is
applicable, unless such modification is generally applicable to all participants
in the New MIC Plan and such modification has been approved by (x) if the Board
has less than three Management Board Members, then all such Management Board
Members or (y) if the Board has three or more Management Board Members, then any
two of such Management Board Members, (iv) a requirement that the Executive be
based at any office or location more than 50 miles from Tulsa, Oklahoma, (v) a
removal of the Executive as Vice President of Finance of the Company by action
of the Board, or (vi) an assignment, by action of the Board, to the Executive of
any duties and responsibilities that are substantially inconsistent with or
materially diminish the Executive's position, in each case, other than with the
consent of the Executive.

            "Management Board Member" means any member of the Board who is also
a full-time employee of Holdings or any of its Subsidiaries.

            "MIC Plan" means Holdings' and its Subsidiaries' Management
Incentive Compensation Plan for the 2000 calendar year.

            "New MIC Plan" means Holdings' and its Subsidiaries' Management
Incentive Compensation Plan agreed upon by the Board and the Company's Chief
Executive Officer, effective January 1, 2001 or thereafter.

            "Old Employment Agreement" has the meaning set forth in the third
WHEREAS clause.

            "Operating Agreement" means the Limited Liability Company Agreement
of Holdings, dated as of August 1, 2000, as amended from time to time.

            "Person" means an individual, a partnership, a corporation, an
association, a limited liability company, a joint stock company, a trust, a
joint venture, an unincorporated organization or a governmental entity or any
department, agency or political subdivision thereof.

            "Subsidiary" means, with respect to any Person, any corporation,
partnership, limited liability company, association or other business entity of
which (i) if a corporation, a majority of the total voting power of shares of
stock entitled (without regard to the occurrence of any contingency) to vote in
the election of directors thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a

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combination thereof, or (ii) if a partnership, limited liability company,
association or other business entity, a majority of the partnership or other
similar ownership interest thereof is at the time owned or controlled, directly
or indirectly, by any Person or one or more Subsidiaries of that Person or a
combination thereof. For purposes hereof, a Person or Persons shall be deemed to
have a majority ownership interest in a partnership, limited liability company,
association or other business entity if such Person or Persons shall be
allocated a majority of partnership, limited liability company, association or
other business entity gains or losses or shall be or control the managing
director, manager or a general partner of such partnership, limited liability
company, association or other business entity.

            "Termination Date" means the date that the Executive ceases to be
employed by Holdings or any of its Subsidiaries for any reason.

      2. Employment. (a) Employment. The Company agrees to employ the Executive,
and the Executive hereby accepts employment with the Company, upon the terms and
conditions set forth in this Agreement for the Employment Period (as herein
defined).

            (b) Positions and Duties. (i) Commencing on the date hereof and
continuing during the Employment Period, the Executive shall serve as Vice
President of Finance of the Company under the supervision and direction of the
Board and shall have the normal duties, responsibilities and authority of a Vice
President of Finance of a corporation and such other duties as shall be assigned
to the Executive by the Board from time to time.

                  (ii) The Executive shall devote his best efforts and his full
business time and attention (except for permitted vacation periods and
reasonable periods of illness or other incapacity which does not constitute
Disability) to the business and affairs of the Company. The Executive shall
perform his duties and responsibilities to the best of his abilities in a
diligent, trustworthy, businesslike and efficient manner. The foregoing shall
not preclude the Executive from devoting reasonable time to civic and charitable
affairs and with the consent of the Board serving on a maximum of two boards
other than the Board or the board of directors of any Subsidiary of Holdings,
provided that such activities do not interfere in any material respect with the
performance of his duties hereunder. The Executive shall perform all services in
accordance with the policies, procedures and rules established by the Company.
In addition, the Executive shall comply with all laws, rules and regulations
that are generally applicable to the Company, its Affiliates and their
employees, directors and officers.

            (c) Base Salary and Benefits. (i) Base Salary. During the Employment
Period, the Executive's base salary shall be in an amount set by the Board, but
under no circumstances will be less than $108,800 per annum (the "Base Salary"),
which salary shall be paid by the Company in regular installments in accordance
with the Company's general payroll practices and shall be subject to customary
withholding. On an annual basis, the Board shall review and determine the
appropriateness of an increase in the Base Salary as in effect as of the date of
such review.

                  (ii) Benefits. During the Employment Period, in addition to
the Base Salary payable to the Executive pursuant to Section 2(c)(i), the
Executive shall be entitled to

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participate in the Company's employee benefit programs (including, but not
limited to, option plans and benefit programs which provide group pension, life
and health insurance and other medical benefits), as the Company, with the
approval of the Board, may now or hereafter make available generally to its
management as well as the employee benefits listed on Exhibit A hereto; provided
that any awards under any option plans shall be set by the Board, in their sole
discretion. In addition, during calendar year 2000, the Executive shall be
entitled to participate at a level of no less than 60% in the MIC Plan, with any
awards under the MIC Plan to be set by the Board, and the calculation of the
bonus under the MIC Plan for the calendar year 2000 will be made as though the
transactions described in the Merger Agreement had not occurred. Effective
January 1, 2001, the MIC Plan will be replaced by the New MIC Plan which shall
be mutually agreed upon by the Board and the Company's Chief Executive Officer.
If a New MIC Plan is not agreed upon by the Board and the Company's Chief
Executive Officer, the Executive will have substantially the same bonus
opportunities as existed under the MIC Plan prior to the date hereof, taking
into account the new capital structure of the Company and its Affiliates. All
benefits the Executive shall be entitled to pursuant to this Section 2(c)(ii)
shall hereinafter be referred to as the "Benefits."

                  (iii) Expenses. The Company shall reimburse the Executive for
all reasonable and necessary business expenses incurred by the Executive in
performing his duties under this Agreement which are consistent with the
Company's policies, as approved by the Board, in effect from time to time with
respect to travel, entertainment and other business expenses subject to the
Company's receipt of supporting documentation in accordance with the Company's
customary reporting and documentation provisions.

            (d) Term. (i) This Agreement is an employment contract for a term of
two (2) years beginning as of the date of the Closing Date of the Merger and
ending on the second anniversary of the date thereof (the "Initial Employment
Term"). At the end of the Initial Employment Term, and at the end of each
Additional Employment Term (as herein defined), unless the Company (with the
approval of the Board) has provided the Executive with at least sixty (60) days
advance written notice, so long as the Executive continues to be employed by the
Company, this employment contract shall automatically renew for a term of one
(1) year (each such additional term, an "Additional Employment Term"). The
Initial Employment Term and each Additional Employment Term shall be referred to
herein as an "Employment Term." Notwithstanding the foregoing, each Employment
Term is subject to early termination (x) by reason of the Executive's death or
Disability, (y) by resolution of the Board with or without Cause, or (z) upon
the Executive's voluntary resignation with or without Good Reason. For all
purposes under this Agreement, a delivery of a notice by the Company to the
Executive pursuant to this Section 2(d)(i) to avoid an Additional Employment
Term shall be treated as if an Employment Term has been terminated early by
resolution of the Board without Cause.

                  (ii) The period of the Initial Employment Term together with
each Additional Employment Term, if any, shall be referred to herein as the
"Employment Period." Notwithstanding any termination of the Executive's
employment by the Company (such termination, an "Employment Termination"), this
Agreement shall remain a valid and enforceable contract between the parties,
including without limitation Sections 3, 4 and 5 hereof.

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            (e) Employment Termination. (i) If any Employment Term is terminated
early by resolution of the Board with Cause or by reason of the Executive's
voluntary resignation without Good Reason, then the Executive shall be entitled
to receive only all previously earned and accrued but unpaid Base Salary and
vacation time up to the date of the Employment Termination (and not any accrued
but unpaid Bonus as of the date of the Employment Termination).

                  (ii) If any Employment Term is terminated early by reason of
the Executive's death or Disability, then the Executive shall be entitled to
receive only (x) all previously earned and accrued but unpaid Base Salary and
vacation time up to the date of the Employment Termination, (y) if the date of
the Employment Termination is 3 months after the commencement of a Bonus Year,
then a portion of the Bonus earned by the Executive during such Bonus Year in
which such termination occurs determined on a pro rated basis based on the
number of days of the applicable Bonus Year prior to the date of the Employment
Termination as compared to the number of days in such Bonus Year, which payment
will be made when such Bonus for such Bonus Year would otherwise be payable and
(z) any Bonus earned by the Executive during any Bonus Year which ended prior to
the date of the Employment Termination and which has not been paid as of such
date, which payment will be made when such Bonus for such Bonus Year would
otherwise be payable.

                  (iii) If any Employment Term is terminated early by reason of
the Executive's voluntary resignation with Good Reason or by resolution of the
Board without Cause, then, subject to the last sentence of this section (iii),
the Executive shall be entitled to receive only the following: (v) all
previously earned and accrued but unpaid Base Salary and vacation time up to the
date of the Employment Termination, (w) his Base Salary and the Benefits marked
on Exhibit A with an "#" for the twelve-month period beginning on the date of
the Employment Termination; provided, however, that in lieu of providing such
benefits, the Company may elect to pay to the Executive the cost of premiums for
such benefits, (x) the Benefits marked on Exhibit A with a "+" for the
three-month period beginning on the date of the Employment Termination, (y) if
the date of the Employment Termination is 3 months after the commencement of a
Bonus Year, then a portion of the Bonus earned by the Executive during such
Bonus Year in which such termination occurs determined on a pro rated basis
based on the number of days of the applicable Bonus Year prior to the date of
the Employment Termination as compared to the number of days in such Bonus Year,
which payment will be made when such Bonus for such Bonus Year would otherwise
be payable and (z) any Bonus earned by the Executive during any Bonus Year which
ended prior to the date of the Employment Termination and which has not been
paid as of such date, which payment will be made when such Bonus for such Bonus
Year would otherwise be payable. Notwithstanding these payments or benefits, the
period for which the Executive is entitled to health care continuation coverage
under Section 4980B of the Internal Revenue Code of 1986, as amended, shall
begin to run on the date of the Executive's termination. As a condition to
receiving any payments pursuant to this section 2(e)(iii), the Executive shall
execute and deliver to the Company a general release (with ancillary covenants
not to sue and other similar standard provisions) of the Company and its
Affiliates and their respective officers, directors and employees from all
claims of any kind whatsoever arising out of the Executive's employment or
termination thereof (including without limitation, civil rights claims), in such
form as reasonably requested by the Company; provided, however, that the

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release will not affect any contractual rights the Executive may otherwise have
under the Repurchase Agreement or any stock option plans of the Company or
option agreements thereunder; and provided further that the release shall not
apply to any rights to which the Executive is entitled in accordance with plan
provisions under any employee benefit plan or fringe benefit plan or program of
the Company and its Affiliates.

                  (iv) Except as expressly provided in this Section 2(e), the
Executive hereby agrees that upon and after the Employment Termination, no
severance compensation of any kind, nature or amount (including by operation of
law) shall be payable by Holdings, the Company or any of their respective
Subsidiaries or Affiliates to the Executive and the Executive hereby irrevocably
waives any claim for severance compensation of any kind, nature or amount
(including by operation of law).

                  (v) Except as expressly provided in this Section 2(e), upon
the Employment Termination, except as required by law, all of the Executive's
rights to Benefits hereunder (if any) shall cease.

                  (vi) Subject to restrictive covenants contained in Section 5,
the Executive may obtain other engagements or employment after the date of an
Employment Termination, and any compensation received or receivable by the
Executive shall not reduce any amounts which the Company is required to pay to
the Executive pursuant to this Agreement.

      3. Work Product. The Executive 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 the Executive (either solely or jointly with others)
while employed by the Company or any of its Subsidiaries ("Work Product") shall
be the sole and exclusive property of the Company or any such Subsidiary. The
Executive will promptly disclose such Work Product to the Company and perform
all actions requested by the Company (whether during or after employment) to
establish and confirm such ownership (including, without limitation,
assignments, consents, powers of attorney and other instruments).

      4.    Confidential Information.  (a)  The Executive acknowledges:  (i)
That the Work Product, artificial intelligence systems, information, customer
lists, goodwill, observations and data disclosed to, developed by or obtained
by him while employed by the Company or any of its Subsidiaries 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 business and supplier and customer information) (collectively,
"Confidential Information") are highly confidential and uniquely valuable to
the Company and its Subsidiaries;

                  (ii)  That such Confidential Information is and shall
continue to be the property of the Company or any such Subsidiary;

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                  (iii) That 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) That 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)   That the Company and its Subsidiaries will be
irreparably harmed by disclosure of any Confidential Information.

            (b) Therefore, the Executive agrees: (i) That, during his employment
and for all times thereafter, except as required by law or court order, he shall
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
the Executive'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 Employment Termination or at any other
time the Company may request, for whatever reason, the Executive shall deliver
(and in the event of the Executive's death or Disability, his representative
shall 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. If
the Company requests, the Executive (or his representative) agrees to provide
written confirmation that the Executive has returned all such materials to the
Company or one of its Subsidiaries; and

                  (iv) That upon the Employment Termination or at any other time
the Company may request, for whatever reason, the Executive shall 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 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 the Executive may then possess, has under his control, or has
ever developed, obtained, or contributed to during his tenure with the Company.

      5. Noncompete, Nonsolicitation. (a) The Executive agrees that, during the
time he is employed by the Company or any of its Subsidiaries and during any
applicable Post-Termination Period (as herein defined) (the "Noncompete
Period"), he shall not directly or indirectly own, operate, manage, control,
participate in, consult with, advise, provide services for,

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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, or potential competition with, the businesses
of the Company or any of its Subsidiaries as such businesses (the "Businesses")
exist during the Executive's employment by the Company, within the United States
or any other geographical area in which the Company or any of its Subsidiaries
engages or plans to engage in the Businesses (the "Geographical Area"). Nothing
herein shall prohibit the Executive from being a passive owner of not more than
2% of the outstanding stock of a corporation which is publicly traded, so long
as the Executive has no active participation in the business of such
corporation. For purposes of this Section 5, "Post-Termination Period" means the
twelve (12) month period beginning on the Termination Date.

            (b) During the Noncompete Period, the Executive shall 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 the Executive'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) The Executive agrees that: (i) the covenants set forth in this
Section 5 are reasonable in geographical and temporal scope and in all other
respects, (ii) Holdings and the Company would not have entered into this
Agreement but for the covenants of the Executive contained herein, and (iii) the
covenants contained herein have been made in order to induce Holdings and the
Company to enter into this Agreement.

            (d) If, at the time of enforcement of this Section 5, 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 shall be
substituted for the stated duration, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum period,
scope and area permitted by law.

            (e) The Executive recognizes and affirms that in the event of his
breach of any provision of this Section 5, money damages would be inadequate and
Holdings and the Company would have no adequate remedy at law. Accordingly, the
Executive agrees that in the event of a breach or a threatened breach by the
Executive of any of the provisions of this Section 5, Holdings and 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).

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      6. Notices. All notices, demands or other communications to be given or
delivered under or by reason of the provisions of this Agreement shall 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 Holdings or the Company:

                  GEEG Holdings, L.L.C.
                  6120 South Yale, Suite 1480
                  Tulsa, OK  74136
                  Attention:  Secretary
                  Telecopy No.:  (918) 488-8389

            With a copy, which shall not constitute notice, to:

                  Harvest Partners, Inc.
                  280 Park Avenue
                  33rd Floor
                  New York, NY  10017
                  Attention:  Stephen Eisenstein
                  Telecopy No.:   (212) 812-0100

                              and

                  John M. Reiss
                  White & Case LLP
                  1155 Avenue of the Americas
                  New York, NY 10036-2787
                  Telecopy No.: (212) 354-8113

            To the Executive:

                  at the Executive's last
                  address or telecopy number on
                  the records of the Company

or such other address or to the attention of such other Person as the recipient
party shall have specified by prior written notice to the sending party;
provided, that the failure to deliver copies of notices as indicated above shall
not affect the validity of any notice. Any such notice, demand or other
communication shall be deemed to have been received (i) when delivered, if
personally delivered, or sent by nationally-recognized overnight courier or sent
via facsimile or (ii) 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.

      7.    Miscellaneous.  (a)  Warranty by the Executive.  The Executive
represents and warrants to Holdings and the Company that he is not a party to
any agreement containing a

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noncompetition provision or other restriction with respect to (i) the nature of
any services or business which he is entitled to perform or conduct for the
Company under this Agreement, or (ii) the disclosure or use of any information
which directly or indirectly relates to the nature of the business of the
Company or any of its Subsidiaries or the services to be rendered by the
Executive under this Agreement.

            (b) 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 shall not be thereby affected and shall 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 shall
reduce the duration, area, or matter of such provision, and, in its reduced
form, such provision shall then be enforceable and shall be enforced.

            (c) Complete Agreement. This Agreement shall embody the complete
agreement and understanding among the parties and supersede and preempt any
prior understandings, agreements or representations by or among the parties,
written or oral, which may have related to the subject matter hereof in any way,
including, but not limited to, the Term Sheet between GEEG Acquisition, L.L.C.
and the Executive Relating to the Term of Employment and Equity Compensation,
dated July 12, 2000, the Old Employment Agreement, the Agreements evidencing the
grant of Performance Vesting Options and Time Vesting Options to the Executive
under the Holdings' 1998 Option Plan, and the Employee Subscription Agreements,
dated June 8, 1998 and December 18, 1998, between Holdings and the Executive.
This Agreement does not supersede the Repurchase Agreement between Holdings and
the Executive which is being executed concurrently herewith, or any future
agreements evidencing the grant of options to the Executive under Holdings' 2000
Option Plan, or any future option plan of Holdings.

            (d) Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

            (e) Successors and Assigns, Transfer. This Agreement is intended to
bind and inure to the benefit of and be enforceable by the Executive, Holdings
and the Company and their respective successors, heirs and assigns.

            (f) Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the state of Delaware, without giving effect to
any rules, principles or provisions of choice of law or conflict of laws.

            (g) Remedies. Holdings, the Company and the Executive will be
entitled to enforce its respective rights under this Agreement specifically, to
recover damages and costs (including reasonable attorneys' fees and expenses)
caused by any breach of any provision of this Agreement and to exercise all
other rights existing in its favor. The parties hereto agree and acknowledge
that Holdings and the Company will suffer irreparable harm and money damages may
not be an adequate remedy for any breach of the provisions of this Agreement by
the

                                     - 11 -
<PAGE>   12
Executive and that any such party may in its sole discretion apply to any court
of law or equity of competent jurisdiction (without posting any bond or deposit)
for specific performance and/or other injunctive relief in order to enforce or
prevent any violations of the provisions of this Agreement.

            (h) Amendment and Waiver. The provisions of this Agreement may be
amended and waived only with the prior written consent of Holdings (with the
approval of the Board), the Company and the Executive.

            (i) Tax Matters. (i) The Executive shall indemnify, defend and hold
harmless Holdings and the Company (and their respective officers, directors,
employees and members) for any liability associated with federal, state or local
income tax withholding and employment tax withholding in respect of the
Executive or his transferees (including all interest, penalties and additions to
tax with respect thereto) resulting from, or arising with respect to, the
issuance to the Executive of any units of interest in Holdings, whether before
or after the Merger, whether acquired by purchase from the Company or otherwise,
or the holding by the Executive or his transferees of any such units of interest
in Holdings.

            (ii) The Executive hereby irrevocably waives any and all claims,
rights and recourse under Section 10(j) of the Old Employment Agreement.

                                     - 12 -
<PAGE>   13
            IN WITNESS WHEREOF, the parties hereto have executed this Employment
Agreement as of the date first written above.

                                          GEEG HOLDINGS, L.L.C.

                                          By: /s/ Larry Edwards
                                              --------------------------------
                                              Name:
                                              Title:

                                          BRADEN MANUFACTURING, L.L.C.

                                          By: /s/ Larry Edwards
                                              --------------------------------
                                              Name:
                                              Title:

                                          /s/ James P. Wilson
                                          ------------------------------------
                                          James P. Wilson

                                     - 13 -
<PAGE>   14
                                                                       Exhibit A

                                Benefits Schedule
                                 James P. Wilson

+     Company Paid Vehicle
      Indian Springs Country Club Membership
+     Cellular Phone
+     Company Gas Card
+     Vehicle Maintenance
+     Vehicle Tags
#     Medical Insurance
#     Dental Insurance
      Short Term Disability
      Long Term Disability
#     Life Insurance
      Salary Continuation
      Accidental Death & Dismemberment
#     Travel Accident Insurance
      9 Paid Holidays Per Year
      4 Weeks Paid Vacation Per Year
      MIC Bonus Plan at 60% Level
      401(k) Plan<PAGE>   1
                                                                   EXHIBIT 10.12

                              GEEG HOLDINGS, L.L.C.
                                2000 OPTION PLAN

                                    ARTICLE I

                                 PURPOSE OF PLAN

                  The 2000 Option Plan (the "Plan") of GEEG HOLDINGS, L.L.C.
(the "Company"), adopted by the Company's Board of Directors effective as of
August 1, 2000, is intended to advance the best interests of the Company by
providing executives and other key employees of the Company or any Subsidiary
(as defined below) who have substantial responsibility for the management and
growth of the Company or any Subsidiary with additional incentives by allowing
such employees to acquire an ownership interest in the Company. The Plan is a
compensatory benefit plan within the meaning of Rule 701 under the Securities
Act of 1933, as amended (the "Securities Act") and, unless and until Common
Units (as defined below) are publicly traded, the issuance of purchase options
("Options") for Class A and Class B Common Units pursuant to the Plan and the
issuance of Class A and Class B Common Units pursuant to such Options is
intended to qualify for the exemption from registration under the Securities Act
provided by Rule 701 except to the extent that such Options and Class A and
Class B Common Units are issued to "accredited investors" (as defined in rule
501(a)(1), (2), (3) and (7) under the Securities Act.)

                                   ARTICLE II

                                   DEFINITIONS

                  For purposes of the Plan the following terms have the
indicated meanings:

                  "Affiliate" means, when used with reference to a specified
Person, any Person that directly or indirectly controls or is controlled by or
is under common control with the specified Person. As used in this definition,
"control" (including, with its correlative meanings, "controlled by" and "under
common control with") shall mean possession, directly or indirectly, of power to
direct or cause the direction of management or policies (whether through
ownership of securities or partnership or other ownership interests, by contract
or otherwise). With respect to any Person who is an individual, "Affiliates"
shall also include, without limitation, any member of such individual's Family
Group.

                  "Board" means the Company's Board of Directors.

                  "Braden" means Braden Manufacturing, L.L.C., a Delaware
limited liability company.

                  "Cause" means the occurrence of any one of the following as
determined by the Board, (i) a material breach of the Participant's
confidentiality, non-competition or non-solicitation covenants under his or her
employment or other agreement with the Company or a
<PAGE>   2
Subsidiary of the Company or, in the absence of such an agreement, a material
breach of the Company's or its Subsidiaries written policies on confidentiality
or non-solicitation; (ii) the commission by such Participant of a felony, or any
crime involving theft, dishonesty or moral turpitude; (iii) the commission by
the Participant of act(s) or omission(s) which are willful and deliberate acts
intended to harm or injure the business, operations, financial condition or
reputation of the Company, any of the Company's Subsidiaries, any of the
Company's equity holders, or any Affiliate of any of the foregoing; (iv) the
Participant's disregard of the directives of the Board; (v) drunkenness or use
of drugs which interferes with the performance of the Participant's duties for
the Company or a Subsidiary of the Company, which drunkenness or use of drugs
continues after receipt of notice to the Participant from the Company of his or
her violations of this provision; or (vi) any attempt by the Participant to
secure personal profit in connection with the business of the Company unless
given prior written approval by unanimous consent of the Board.

                  "Class A Common Units" means the Company's Class A Common
Units, as such term is defined in the Operating Agreement.

                  "Class B Common Units" means each of the Company's Class B
Common Units, as such term is defined in the Operating Agreement.

                  "Closing Date" has the meaning set forth in the Agreement and
Plan of Merger between the Company, Saw Mill Investments, LLC, the Parent and
GEEG Acquisition, L.L.C., dated July 14, 2000.

                  "Code" means the Internal Revenue Code of 1986, as amended,
and any successor statute.

                  "Common Units" means each of the Class A Common Units and
Class B Common Units.

                  "Cost" of any Class A or Class B Common Unit as of any
Valuation Date means the exercise price of the Option as a result of the
exercise of which such Class A or Class B Common Unit was issued, plus any other
contributions or payments made to the Company prior to such Valuation Date, less
all distributions made by the Company prior to such Valuation Date (other than
Tax Allowance Amounts), in each case, with respect to such Class A or Class B
Common Unit, as the case may be.

                  "Deltak" means Deltak, L.L.C., a Delaware limited liability
company.

                  "Disability" means, with respect to any Participant, the
inability, due to illness, accident, injury, physical or mental incapacity or
other disability, of such Participant to carry out effectively his or her duties
and obligations to the Company or any of its Subsidiaries or to participate
effectively and actively as an employee of the Company or any of its
Subsidiaries for a period of at least 90 consecutive days or for shorter periods
aggregating at least 150 days (whether or not consecutive) during any
twelve-month period, as determined in the judgment of the Board.

                  "Fair Market Value" of any Class A or Class B Common Unit as
of any given date shall be as determined in good faith by the Board based on
such factors as the members thereof, in

                                      -2-
<PAGE>   3
the exercise of their reasonable business judgment, consider relevant; provided
that in making such determination the Board shall assume that the Company and
its businesses are sold as a going concern and then liquidated and shall not
provide for any discounts based on the illiquidity or restrictions on transfer
of the applicable Class A or Class B Common Units or the fact that the Class A
or Class B Common Units being valued represent a minority interest in the equity
of the Company.

                  "Family Group" means, with respect to any Person who is an
individual, (i) such Person's spouse, former spouse and descendants (whether
natural or adopted), parents and their descendants and any spouse of the
foregoing persons (collectively, "relatives") or (ii) the trustee, fiduciary or
personal representative of such Person and any trust solely for the benefit of
such Person and/or such Person's relatives.

                  "Harvest" means Harvest Partners III, L.P.

                  "Harvest Fund Units" means (i) all of the Common Units and
Preferred Units issued to the Parent as of the Closing Date (whether or not held
by the Parent after the Closing Date), and (ii) all securities issued with
respect to the Common Units or Preferred Units referred to in clause (i) above,
by way of unit or distribution, or unit split or in connection with a
combination of units or shares, recapitalization, merger, consolidation or other
reorganization.

                  "IRR" means, with respect to a Sale of the Business, a
Qualified Public Offering or a Qualified Recapitalization, the aggregate
internal rate of return (i.e., the discount rate at which the net present value
of the cash flows from the investments are equal to zero) with respect to all of
the Harvest Fund Units based solely on (i) the net cash proceeds received by the
holder or holders of such Harvest Fund Units as a result of such Sale of the
Business, Qualified Public Offering or Qualified Recapitalization, as the case
may be; (ii) the management fees received by Harvest Partners, Inc. from the
Company and its Subsidiaries (including only the management fees received by
Harvest Partners, Inc.) from and including the Closing Date hereof until the
consummation of such Sale of the Business, Qualified Public Offering or
Qualified Recapitalization (but excluding the $5 million payment Harvest
Partners, Inc. will be paid at the Closing) and (iii) distributions received
from the Company pursuant to Section 6.1 of the Operating Agreement (other than
distributions of Tax Allowance Amounts) with respect to all of the Harvest Fund
Units from and including the Closing Date until the consummation of such Sale of
the Business, Qualified Public Offering or Qualified Recapitalization, all as
determined in good faith by the Board; less (iv) the capital contributions made
to the Company (including all capital contributions made to the Company by
Harvest Partners, Inc. or its Affiliates on the Closing Date). Notwithstanding
the foregoing, the net cash proceeds to be received by the holder or holders of
such Harvest Fund Units as a result of such Qualified Public Offering shall
include all amounts the then holders of such Harvest Fund Units would have
received had such holders sold all of the applicable Harvest Fund Units in such
Qualified Public Offering at the price per unit or share offered to the public
(less all applicable discounts and commissions).

                  "Issued Units" means (i) all Class A or Class B Common Units
issued upon the proper exercise of an Option and (ii) all equity securities
issued with respect to the Class A or Class B Common Units referred to in clause
(i) above by way of unit distribution or unit split or in

                                      -3-
<PAGE>   4
connection with any conversion, merger, consolidation or recapitalization or
other reorganization affecting the Class A or Class B Common Units. Unless
provided otherwise herein or in the Participant's Option Agreement (as herein
defined), Issued Units will continue to be Issued Units in the hands of any
holder other than the Participant (except for the Company, purchasers pursuant
to (i) a Public Sale occurring on or after the second anniversary following a
Qualified Public Offering or (ii) a Sale of the Business and, in the case of
clause (i) or (ii), their respective subsequent transferees), and each such
transferee thereof will succeed to the rights and obligations of a holder of
Issued Units hereunder.

                  "Measurement Date" means the date on which any taxable income
resulting from the exercise of an Option is determined under applicable federal
income tax law.

                  "Notice of Exercise Date" has the meaning set forth in Section
5.2(b).

                  "Operating Agreement" means the Limited Liability Company
Agreement of the Company, dated as of August 1, 2000, as amended from time to
time.

                  "Option Units" means (i) all Class A or Class B Common Units
issuable upon the exercise of an Option and (ii) all units or shares of any
other class of Common Units issuable upon the exercise of an Option as a result
of an adjustment to such Option pursuant to any provision hereof.

                  "Options" has the meaning set forth in Article I.

                  "Parent" means GEEG Acquisition Holdings Corp.

                  "Participant" means any executive, key employee or director of
the Company or any Subsidiary who has been selected to participate in the Plan
by the Board.

                  "Permitted Transferee" has the meaning set forth in Section
5.9.

                  "Person" means an individual, a partnership, a corporation, a
limited liability company, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization, a governmental entity or any
department, agency or political subdivision thereof or any other entity or
organization.

                  "Public Offering" means an underwritten public offering and
sale of Common Units pursuant to an effective registration statement under the
Securities Act; provided that a Public Offering shall not include an offering
made in connection with a business acquisition or combination or an employee
benefit plan.

                  "Public Sale" means the sale of Issued Units to the public
pursuant to an offering registered under the Securities Act or, after the
consummation of an initial Public Offering, to the public pursuant to the
provisions of Rule 144 (or any similar rule or rules then in effect) under the
Securities Act.

                                      -4-
<PAGE>   5
                  "Qualified Public Offering" means any underwritten public
offering and sale by the Company of its common equity securities to the public
pursuant to an effective registration statement under the Securities Act (other
than an offering made in connection with a business acquisition or combination
pursuant to a registration statement on Form S-4 or any similar form, or an
employee benefit plan pursuant to a registration statement on Form S-8 or any
similar form), but only if the aggregate gross proceeds received by the Company
and/or its equityholders (before the deduction of underwriting discounts and
expenses) in such underwritten public offering and sale or series of such sales
in the aggregate are in excess of $100 million.

                  "Qualified Recapitalization" means (i) any recapitalization or
reorganization of the Company or any dividend or other distribution to holders
of equity securities of the Company, in each case, pursuant to which the equity
holders of the Company receive in the aggregate in excess of $75,000,000 cash in
any one year period (other than distributions of Tax Allowance Amounts), (ii)
any Sale of Braden or (iii) any Sale of Deltak.

                  "Qualified Transaction" means any Sale of the Business,
Qualified Public Offering or Qualified Recapitalization.

                  "Repurchase Notice" has the meaning set forth in Section
5.7(c).

                  "Repurchase Option" has the meaning set forth in Section
5.7(a).

                  "Sale of Braden" means any sale by the Company or any of its
Subsidiaries of all or substantially all of the equity or assets of Braden (or
any successor entity) to an Independent Third Party or affiliated group of
Independent Third Parties.

                  "Sale of Deltak" means any sale by the Company or any of its
Subsidiaries of all or substantially all of the equity or assets of Deltak (or
any successor entity) to an Independent Third Party or affiliated-group of
Independent Third Parties.

                  "Sale of the Business" shall mean any transaction or series of
transactions (whether structured as a sale of Common Units and Preferred Units
of the Company, merger, consolidation, reorganization, recapitalization, asset
sale or otherwise), which, directly or indirectly, results in (i) the sale or
transfer of all or substantially all of the assets (determined based on value on
a consolidated basis) of the Company and its Subsidiaries to a Person or Persons
other than Harvest or any of its Affiliates or (ii) the sale or transfer of a
majority of the outstanding equity securities entitled to vote generally in the
election of the Board of Directors of Parent and/or a majority of the
outstanding equity securities entitled to vote generally in the election of the
Board of Directors of the Company to a Person or Persons other than Harvest or
any of its Affiliates.

                  "Senior Credit Agreement" means the Credit Agreement dated
August 1, 2000 by and among Global Energy Equipment Group, L.L.C., the Company,
DLJ Capital Funding, Inc., Bankers Trust Company, and the other parties thereto.

                  "Subordinated Debt Agreement" means the Senior Subordinated
Loan Agreement dated August 1, 2000 by and among Global Energy Equipment Group,
L.L.C. and the Lenders Parties thereto.

                                      -5-
<PAGE>   6
                  "Subsidiary" means, with respect to any Person, any
corporation, partnership, limited liability company, association or other
business entity of which (i) if a corporation, a majority of the total voting
power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors thereof is at the time owned
or controlled, directly or indirectly, by that Person or one or more of the
other Subsidiaries of that Person or a combination thereof, or (ii) if a
partnership, limited liability company, association or other business entity, a
majority of the partnership or other similar ownership interest thereof is at
the time owned or controlled, directly or indirectly, by that Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof,
a Person or Persons shall be deemed to have a majority ownership interest in a
partnership, limited liability company, association or other business entity if
such Person or Persons shall be allocated a majority of partnership, limited
liability company, association or other business entity gains or losses or shall
be or control the managing director, managing member, manager or a general
partner of such partnership, limited liability company, association or other
business entity. Where not otherwise indicated, the term "Subsidiary" refers to
a Subsidiary of the Company.

                  "Tax Allowance Amount" has the meaning set forth in the
Operating Agreement.

                  "Termination Date" means, with respect to any Participant, the
date that such Participant ceases to be employed by the Company or any of its
Subsidiaries for any reason.

                  "Valuation Date" means, (i) with respect to any Repurchase
Option, the date, if any, that the Company delivers a Repurchase Notice to a
holder of Issued Units or (ii) with respect to any Put Right, the date, if any,
that the holder(s) of Issued Units deliver a Put Notice to the Company.

                  "Withholding Amount" has the meaning set forth in Section
5.3(a).

                                  ARTICLE III

                                 ADMINISTRATION

                  The Plan shall be administered by the Board. Subject to the
limitations of the Plan, the Board shall have the sole and complete authority
to: (i) select Participants, (ii) grant Options to Participants in such forms
and amounts and with such exercise price as it shall determine, (iii) impose
such limitations, restrictions and conditions upon such Options as it shall deem
appropriate, (iv) interpret the Plan and adopt, amend and rescind administrative
guidelines and other rules, procedures and regulations relating to the Plan, (v)
correct any defect or omission or reconcile any inconsistency in the Plan or in
any Options granted under the Plan and (vi) make all other determinations and
take all other actions necessary or advisable for the implementation and
administration of the Plan. The Board's reasonable determinations on matters
within its authority shall be conclusive and binding upon the Participants, the
Company and all other Persons. All expenses associated with the administration
of the Plan shall be borne by the Company.

                                      -6-
<PAGE>   7
                                   ARTICLE IV

                      LIMITATION ON AGGREGATE OPTION UNITS

                  The number of Class A or Class B Common Units with respect to
which Options may be granted under the Plan shall not exceed, in the aggregate,
122,342, subject to adjustment in accordance with Sections 6.4 and 6.5. On or
after the date hereof, the Board's non-binding intent is to grant (i) an
aggregate number of "time vesting" Options exercisable for approximately 40% of
the Common Units available for grant under the Plan and (ii) an aggregate number
of "performance vesting" Options exercisable for approximately 60% of the Common
Units available for grant under the Plan, in each case, subject to adjustment in
accordance with Sections 6.4 and 6.5. To the extent any Options expire
unexercised or are canceled, terminated or forfeited in any manner without the
issuance of Common Units thereunder, the number of Common Units with respect to
which such Options were granted shall again be available under the Plan.
Similarly, if any Common Units issued hereunder upon exercise of the Options are
repurchased hereunder, such Common Units shall again be available under the Plan
for reissuance as Options.

                                    ARTICLE V

                                     AWARDS

                  5.1 Grant of Options. The Board may grant Options to
Participants from time to time in accordance with this Article V. The Board
shall determine the term of each Option, which term shall not exceed ten years
from the date of grant of the Option.

                  5.2 Exercise Procedure; Effectiveness.

                  (a) Exercise Procedure. Options shall be exercisable, to the
extent they are vested, by written notice to the Company (to the attention of
the Company's Secretary) accompanied by payment in full of the applicable
exercise price. Payment of such exercise price shall be made in cash (including
check, bank draft, money order or wire transfer of immediately available funds)
or to the extent permitted by the Board, may be made as follows: (i) by delivery
of Common Units with an aggregate Fair Market Value equal to such exercise
price, (ii) by appropriately reducing the number of Common Units issuable upon
exercise of any Option, or (iii) any combination of the foregoing.

                  (b) Effectiveness of Exercise. Notwithstanding anything
contained herein or in any Option Agreement (as defined herein) to the contrary,
the effective date of any exercise of any Option shall be determined by the
Board provided that in no event shall any such effective date be (i) any earlier
than the last day of the Company's most recent fiscal quarter which ended prior
to the date the applicable Participant gives notice of the exercise of such
Option (the "Notice of Exercise Date") or (ii) any later than the last day of
the Company's fiscal quarter during which the applicable Notice of Exercise Date
occurs.

                                      -7-
<PAGE>   8
                  5.3 Withholding Tax Requirements.

                  (a) Amount of Withholding. It shall be a condition of the
exercise of any Option that the Participant exercising the Option make
appropriate payment or other provision acceptable to the Company with respect to
any withholding tax requirement arising from such exercise. The amount of
withholding tax required, if any, with respect to any Option exercise (the
"Withholding Amount") shall be determined by the Treasurer or other appropriate
officer of the Company, and the Participant shall furnish such information and
make such representations as such officer requires to make such determination.

                  (b) Withholding Procedure. The Company and/or any Affiliate
are authorized to take whatever actions are necessary and proper to satisfy all
obligations of Participants for the payment of all Federal, state, local and
foreign taxes in connection with any Option, including, but not limited to the
actions described herein. Each Participant shall, no later than the date as of
which the value of the Option first becomes includible in the gross income of
the Participant for income tax purposes, pay to the Company in cash, or make
arrangements reasonably satisfactory to the Company, as determined in the
Board's discretion, regarding payment to the Company of, any taxes of any kind
required by law to be withheld with respect to the Common Units subject to such
Option, and the Company and any Affiliate shall, to the extent permitted by law,
have the right to deduct any such taxes from any payment of any kind otherwise
due to such Participant. Notwithstanding the above, the Board may, in its
discretion and pursuant to procedures approved by the Board, permit the
Participant to (i) elect withholding by the Company of units otherwise
deliverable to such Participant pursuant to his or her Option (provided,
however, that the amount of any units so withheld shall not exceed the amount
necessary to satisfy the Company's or any Affiliate's required tax withholding
obligations using the minimum statutory withholding rates for Federal, state and
local tax purposes, including payroll taxes, that are applicable to supplemental
taxable income) and/or (ii) tender to the Company units owned by such
Participant (or by such Participant and his or her spouse jointly) and acquired
more than six (6) months prior to such tender in full or partial satisfaction of
such tax obligations, based, in each case, on the Fair Market Value of the units
on the payment date as determined by the Board.

                  5.4 Notification of Inquiries and Agreements. Each Participant
and each Permitted Transferee (as herein defined) shall notify the Company in
writing within 10 days after the date such Participant or Permitted Transferee
(i) first obtains knowledge of any Internal Revenue Service inquiry, audit,
assertion, determination, investigation, or question relating in any manner to
the value of Options granted hereunder; (ii) includes or agrees (including,
without limitation, in any settlement, closing or other similar agreement) to
include in gross income with respect to any Option granted under this Plan (A)
any amount in excess of the amount reported on Form 1099 or Form W-2 to such
Participant by the Company, or (B) if no such Form was received, any amount;
and/or (iii) exercises, sells, disposes of, or otherwise transfers an Option
acquired pursuant to this Plan. Upon request, a Participant or Permitted
Transferee shall provide to the Company any information or document relating to
any event described in the preceding sentence which the Company (in its sole
discretion) requires in order to calculate and substantiate any change in the
Company's tax liability as a result of such event.

                                      -8-
<PAGE>   9
                  5.5 Conditions and Limitations on Exercise. At the discretion
of the Board, exercised at the time of grant, Options may vest, in one or more
installments, upon (i) the fulfillment of certain conditions, (ii) the passage
of a specified period of time, and/or (iii) the achievement by the Company or
any Subsidiary of certain performance goals. In the event of a proposed Sale of
the Business, the Board may provide, in its discretion, by written notice to
each applicable Participant, that any or all Options shall become immediately
vested and that any or all Options shall terminate if not exercised as of the
date of such Sale of the Business or any other designated date (the "Designated
Date") or that any such Options shall thereafter represent only the right to
receive such consideration as the Board shall deem equitable in the
circumstances based on the difference between the consideration to be received
in connection with such Sale of the Business and the exercise price of any such
Options.

                  5.6 Expiration of Options.

                  (a) Normal Expiration. In no event shall any part of any
Option be exercisable after the stated date of expiration thereof.

                  (b) Early Expiration Upon Termination of Employment. Except to
the extent expressly provided in any Option Agreement (as defined herein), any
part of any Option that was not vested on a Participant's Termination Date shall
expire and be forfeited on such date, and any part of any Option that was vested
on the Termination Date shall also expire and be forfeited to the extent not
theretofore exercised on the ninetieth (90th) day following the Termination Date
(180 days if the Termination Date occurs as a result of the death of a
Participant), but in no event after the stated date of expiration thereof.

                  5.7 Right to Purchase Issued Units Upon Termination of
Employment.

                  (a) Repurchase Right. If a Participant ceases to be employed
by the Company or any of its Subsidiaries, for any reason, then such
Participant's Issued Units (whether held by such Participant or one or more
transferees and including any Issued Units acquired subsequent to such
termination of employment) will be subject to repurchase by the Company, in the
Company's sole discretion, pursuant to the terms and conditions set forth in
this Section 5.7 (the "Repurchase Option").

                  (b) Repurchase Price.

                           (i) Upon the termination of a Participant's
         employment with the Company and its Subsidiaries for Cause at any time
         or due to the Participant's resignation before August 1, 2004, the
         Company will have the right to purchase Issued Units for an amount
         equal to (x) the lesser of Cost or the Fair Market Value of such Issued
         Units as of the Valuation Date, less (y) the amount of any cash
         distributed by the Company (other than Tax Allowance Amounts) with
         respect to such unit between the Valuation Date and the closing of such
         repurchase.

                           (ii) Upon the termination of the Participant's
         employment with the Company or a Subsidiary due to the Participant's
         death or Disability, the Company will

                                      -9-
<PAGE>   10
         have the right to purchase the Issued Units for an amount equal to the
         Fair Market Value of such Issued Unit as of the Valuation Date less the
         amount of cash distributed by the Company (other than Tax Allowance
         Amounts) with respect to such unit between the Valuation Date and the
         closing of such repurchase.

                           (iii) Upon the termination of the Participant's
         employment with the Company or a Subsidiary without Cause or due to the
         Participant's resignation for any reason on or after August 1, 2004,
         the Company will have the right to purchase the Issued Units for an
         amount equal to the Fair Market Value of such Issued Units as of the
         Valuation Date, less the amount of cash distributed by the Company
         (other than Tax Allowance Amounts) with respect to such unit between
         the Valuation Date and the date of such repurchase; provided that such
         repurchase shall not take place, and a Repurchase Notice shall not be
         delivered to a holder of Issued Units until six months have elapsed
         from the date the Issued Units were acquired upon the exercise of the
         Options.

                           (iv) The Company will pay for the Issued Units by
         check or checks payable to the holder(s) of such Issued Units in an
         aggregate cash amount of up to $1,000,000 with respect to the Issued
         Units and all other units of the Company held by the Participant and
         his or her transferees. In the event the payment exceeds $1,000,000,
         the Company will issue a subordinated note payable to such holder(s) in
         equal installments over five years bearing interest at the rate of 6%
         per annum for an amount equal to the excess; provided that such note
         shall be in form and substance satisfactory to the Company, the
         Participant and the Company's lenders.

                  (c) Repurchase Procedures. The Repurchase Option is
exercisable by the Company delivering written notice (the "Repurchase Notice")
to the holder or holders of the applicable Issued Units during the period
beginning on the applicable Termination Date and ending on the later of (x) the
date 240 days after the applicable Termination Date and (y) the date 180 days
after the date that all Options granted to the applicable Participant have
either expired or been exercised. The Repurchase Notice will set forth the
number of units or shares of Issued Units to be acquired from such holder(s),
the aggregate consideration to be paid for such holder's Issued Units and the
time and place for the closing of the transaction. If any Issued Units are held
by any transferees of the applicable Participant, the Company will purchase such
Issued Units elected to be purchased from such holder(s) of Issued Units and
issue its note, pro rata according to the number of Issued Units held by such
holder(s) at the time of delivery of such Repurchase Notice (determined as
nearly as practicable to the nearest unit).

                  (d) Closing. The closing of the transactions contemplated by
this Section 5.7 will take place on the date designated by the Company in the
Repurchase Notice, which date will not be more than 60 days after the delivery
of such notice. The Company will pay for any Issued Units to be purchased by the
Company pursuant to the Repurchase Option as specified in Section 5.7(b)(iv)
hereof. Notwithstanding anything to the contrary contained herein, all
repurchases of Issued Units by the Company will be subject to applicable
restrictions contained under Delaware law and in the Company's and its
Subsidiaries' debt and equity financing agreements including, but not limited
to, the Senior Credit Agreement and the Subordinated Debt Agreement. If any such
restrictions prohibit the repurchase of Issued Units pursuant to this Section
5.7 which the

                                      -10-
<PAGE>   11
Company is otherwise entitled to make, the Company may make such repurchases as
soon as it is permitted to do so under such restrictions and all restrictions on
the transfer of Issued Units in effect on the date such repurchase right arose
shall remain in effect until 15 days after the end of the period in which the
Company is permitted to make such repurchases. The Company will receive
customary representations and warranties from each seller regarding the sale of
Issued Units, including, but not limited to, the representation that such seller
has good and marketable title to such Issued Units to be transferred free and
clear of all liens, claims and other encumbrances.

                  (e) Termination of Repurchase Right. Notwithstanding anything
contained herein to the contrary, the Company shall not have a Repurchase Option
with respect to any Issued Units issued to or on behalf of a Participant who
ceases to be employed by the Company or any of its Subsidiaries after the
consummation of a Qualified Public Offering.

                  5.8 Right to Put Issued Units.

                  (a) Put Right. If any Participant ceases to be employed by the
Company or any of its Subsidiaries due to such Participant's death or
Disability, then the Executive, or in the event of his death, his executor or
administrator, have the right (the "Put Right") to require the Company to
purchase all of the Issued Units then held by all (and not less than all) of
such holder(s) (other than any Issued Units for which the Company has exercised
its Repurchase Option) pursuant to the terms and conditions set forth in this
Section 5.8.

                  (b) Put Price. Each Issued Unit purchased pursuant to the Put
Right will be purchased at a price per unit or share equal to the Fair Market
Value of such Issued Unit as of the Valuation Date, less the amount of any cash
distributed by the Company (other than Tax Allowance Amounts) with respect to
such unit between the Valuation Date and the closing of such repurchase. The
price of Employee Units purchased pursuant to the Put Right with respect to any
Executive and his transferees will be paid to the Executive on the closing of
such repurchase in an aggregate cash amount of up to $1,000,000. In the event
the payment exceeds $1,000,000, the Company has the option to enter into a
subordinated note payable in equal installments over five years bearing interest
at the rate of 6% per annum for an amount equal to the excess or any portion
thereof or to pay all or any portion of the excess in cash; provided that such
note shall be in form and substance satisfactory to the Company, the Participant
and Company's lenders.

                  (c) Put Procedures. The Put Right is exercisable by the
holder(s) of the applicable Issued Units delivering written notice (the "Put
Notice") to the Company during the period beginning on the date 241 days after
the applicable Termination Date and ending of the date 300 days after the
applicable Termination Date or, if the period for delivering the Company's
Repurchase Notice in Section 5.7(c) (the "Repurchase Notice Period") has not yet
ended on the date 241 days after the applicable Termination Date, during the
period of 60 days after the end of the Repurchase Notice Period. The Put Notice
will set forth the number of units or shares of each class or type of Issued
Units to be sold by the holder(s). If any Issued Units are held by any
transferees of the applicable Participant, the Company will purchase such Issued
Units elected to be purchased from such holder(s) of Issued Units and issue its
note, pro rata according to the

                                      -11-
<PAGE>   12
number of Issued Units held by such holder(s) at the time of delivery of such
Repurchase Notice (determined as nearly as practicable to the nearest unit).

                  (d) Closing. The closing of the transactions contemplated by
this Section 5.8 will take place on a date designated by the Company which date
will not be more than the date 60 days after the delivery of the applicable Put
Notice (such date, the "Latest Closing Date"). Notwithstanding anything to the
contrary contained in this Agreement, all repurchases of Issued Units by the
Company will be subject to applicable restrictions contained in the Delaware law
and in the Company's and its Subsidiaries' debt and equity financing agreements.
If any such restrictions prohibit the repurchase of units or shares of Issued
Units pursuant to this Section 5.8 which the Company is otherwise required to
make, the Company shall make such repurchases as soon as it is permitted to do
so under such restrictions and all restrictions on the transfer of Issued Units
in effect on the date such repurchase right arose shall remain in effect until
15 days after the end of the period in which the Company is permitted to make
such repurchases; provided that if such restrictions prohibit the repurchase of
any Issued Units required to be repurchased pursuant to this Section 5.8, then,
at such time as the Company is permitted to make such repurchase, the applicable
Aggregate Put Price with respect to such Issued Units shall be increased to the
greater of (x) the amount equal to the applicable Aggregate Put Price as of the
applicable Latest Closing Date, plus interest at a rate of 8% per annum during
the period beginning on the date of such Latest Closing Date and ending on the
date such Issued Units are actually repurchased by the Company (such date, the
"Repurchase Date"), and (y) the amount equal to the Fair Market Value of such
Issued Units assuming that the Valuation Date is a date approximately 60 days
prior to such Repurchase Date less, in either the case of (x) or (y), the amount
of any cash distributed by the Company (other than Tax Allowance Amounts) with
respect to such Issued Units between the Valuation Date and the Closing of such
repurchase. Also, to the extent that, by the applicable Latest Closing Date, the
Company cannot or does not repurchase the applicable Issued Units hereunder
after proper exercise of the Put Right, then the applicable Participant can, at
his option, rescind his exercise of the Put Right at any time. The Company will
receive customary representations and warranties from each seller regarding the
sale of Issued Units, including, but not limited to, the representation that
such seller has good and marketable title to such Issued Units to be transferred
free and clear of all liens, claims and other encumbrances.

                  (e) Termination of Put Right. The provisions of this Section
5.8 will terminate at the time of the consummation of a Qualified Public
Offering.

                  5.9 Restrictions on Transfer of Issued Units. No Participant
will sell, pledge, transfer or otherwise dispose of (a "Transfer") any interest
in any Issued Units, except, subject to any additional limitations contained in
Article IX of the Operating Agreement, (i) pursuant to the provisions of
Sections 5.7, 5.8 or 5.11 hereof, (ii) in Public Sales occurring on or after the
second anniversary following a Qualified Public Offering, (iii) pursuant to
applicable laws of descent and distribution, or (iv) among such Participant's
Family Group; provided that the restrictions contained in this Section 5.9 will
continue to be applicable to Issued Units after any Transfer of the type
referred to in clause (iii) or (iv) above and, as a condition to any such
Transfer, the transferees of such Issued Units must agree in writing to be bound
by the provisions of this Plan; Notwithstanding the foregoing, while a
Participant is employed by the Company or its Affiliates and thereafter, until
the latest of the date (x) the Company's Repurchase Option pursuant to

                                      -12-
<PAGE>   13
Section 5.7 hereof expires, (y) where applicable, the Participant's Put Right
pursuant to Section 5.8 hereof (or that of his executors or administrators in
the event of his death) expires and (z) 15 days after any restrictions on
repurchase of Issued Units by the Company referred to in Section 5.7(d) or
5.8(d), whichever is applicable, expire, a Participant may only transfer Issued
Units pursuant to clause (i), (iii) or (iv) hereof. Any transferee of Issued
Units pursuant to a Transfer in accordance with clause (iii) or (iv) above is
herein referred to as a "Permitted Transferee." Upon the proposed Transfer of
any Issued Units pursuant to clause (iii) or (iv) above, such Participant or
such Permitted Transferee Transferring such Issued Units will deliver a written
notice (a "Transfer Notice") to the Company, which discloses in reasonable
detail the identity of the Permitted Transferee(s). The restrictions in this
Section 5.9 are in addition to any restrictions in the Operating Agreement.

                  5.10 Additional Restrictions on Transfer. No holder of Issued
Units may Transfer any Issued Units (except pursuant to an effective
registration statement under the Securities Act) without first delivering to the
Company an opinion of counsel reasonably acceptable in form and substance to the
Company (which counsel will be reasonably acceptable to the Company) that
registration under the Securities Act is not required in connection with such
Transfer.

                  5.11 Sale of the Business.

                  (a) At the written request of Harvest, each Participant agrees
to vote all of his or her Issued Units at a special or annual meeting of Members
or by written consent in lieu of a meeting in favor of, and, if applicable,
shall sell the pro rata amount of the Issued Units sold in connection with, a
Sale of the Business; provided, however, that in connection with the
consummation of such Sale of the Business, each Participant will be entitled to
receive the same form and amount of consideration, with respect to each Issued
Unit sold in such Sale of the Business. In order to effect the foregoing
covenant, each Participant hereby grants to Harvest with respect to all of such
Participant's Issued Units an irrevocable proxy (which is deemed to be coupled
with an interest) for the term of this Agreement with respect to any member vote
or action by written consent solely to effect such Sale of the Business.

                  (b) The Company and each Participant each hereby agree to
cooperate fully (including by waiving any appraisal rights to which any
Participants may be entitled under applicable law and each Participant does
hereby waive all such appraisal rights) with Harvest and the purchaser in any
such Sale of the Business and, to execute and deliver all documents (including
purchase agreements) and instruments as Harvest and such purchaser request to
effect such Sale of the Business including, without limitation, (i) the making
of all representations and warranties, and (ii) the granting of all
indemnifications and the execution of all agreements (including, without
limitation, participating in any escrow arrangements to the extent of their
respective pro rata amount) and similar arrangements (including any purchase
price adjustments) agreed to by Harvest, the Company or any of its Subsidiaries;
provided, however, that any representations and warranties to be made by the
Participants in connection with such Transfer shall be made on a several, and
not on a joint and several, basis and any indemnification obligation to be made
by each Participant participating in such transfer to the transferee shall be
limited to the lesser of the proceeds received by such Participant from the
purchaser and such Participant's pro rata amount of the total indemnification
obligation to be made by all parties participating in

                                      -13-
<PAGE>   14
such transfer. Each Participant agrees that upon such Sale of the Business such
Participant shall receive its pro rata amount of the net proceeds (taking into
account any transaction costs and expenses incurred by Harvest in connection
with such Sale of the Business) and such sale shall be on the same terms and
conditions as afforded to Harvest.

                  (c) Notwithstanding anything in this Section 5.11 to the
contrary, there shall be no liability on the part of Harvest (or its respective
Affiliates and permitted transferees) to any other Participant in the event no
Issued Units are sold even if the provisions of this Section 5.11 have been
triggered.

                  (d) It is understood and agreed that in consideration of
investment banking services provided by an investment banking group (including
Harvest or any of its Affiliates), a reasonable fee may be paid in an amount
that is customary and equivalent to a fee arrangement negotiated on an
"arms-length" basis.

                                   ARTICLE VI

                               GENERAL PROVISIONS

                  6.1 Written Agreement. Each Option granted hereunder shall be
embodied in a written agreement (the "Option Agreement") which shall be signed
by the Participant to whom the Option is granted and shall be subject to the
terms and conditions set forth herein.

                  6.2 Listing, Registration and Legal Compliance. If at any time
the Board determines, in its discretion, that the listing, registration or
qualification of the units or shares subject to Options upon any securities
exchange or under any state or federal securities or other law or regulation, or
the consent or approval of any governmental regulatory body is necessary or
desirable as a condition to or in connection with the granting of Options or the
purchase or issuance of units or shares thereunder, no Options may be granted or
exercised, in whole or in part, unless such listing, registration,
qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Board. The holders of such Options will
supply the Company with such certificates, representations and information as
the Company shall request and shall otherwise cooperate with the Company in
obtaining such listing, registration, qualification, consent or approval. In the
case of officers and other Persons subject to Section 16(b) of the Securities
Exchange Act of 1934, as amended, the Board may at any time impose any
limitations upon the exercise of Options that, in the Board's discretion, are
necessary or desirable in order to comply with such Section 16(b) and the rules
and regulations thereunder. If the Company, as part of an offering of securities
or otherwise, finds it desirable because of federal or state regulatory
requirements to reduce the period during which any Options may be exercised, the
Board may, in its discretion and without the consent of the holder of any such
Option, so reduce such period on not less than 15 days' written notice to the
holders thereof.

                  6.3 Options Not Transferable. Options (including the right to
receive Options Units) may not be Transferred or assigned by the Participant to
whom they were granted, other than by will or the laws of descent and
distribution and, during the lifetime of such Participant, Options may be
exercised only by such Participant (or, if such Participant is incapacitated, by
such

                                      -14-
<PAGE>   15
Participant's legal guardian or legal representative). In the event of the death
of a Participant, the exercise of Options which are vested on the date of death
or become vested after the date of death, may be made only by the executor or
administrator of such Participant's estate or the Person or Persons to whom such
Participant's rights under the Options pass by will or the laws of descent and
distribution.

                  6.4 Organic Change. Any recapitalization, reorganization,
reclassification, consolidation, merger, sale of all or substantially all of the
Company's assets or other transaction which is effected in such a way that
holders of Common Units are entitled to receive (either directly or upon
subsequent liquidation) units, stock, securities or assets with respect to or in
exchange for Common Units is referred to herein as an "Organic Change." Except
as otherwise provided herein, after the consummation of any Organic Change, each
Option shall thereafter be exercisable for, rather than the applicable Options
Units immediately theretofore acquirable and receivable upon exercise of such
Option, such units or shares of stock, securities or assets (including cash) as
may be issued or payable with respect to or in exchange for the number and class
of Options Units immediately theretofore acquirable and receivable upon exercise
of such Option had such Organic Change not taken place. Notwithstanding the
foregoing, in the event of any proposed Organic Change, the Board may, in its
discretion and subject to the payment by the Company to the then holders of
Options of such consideration, if any, as the Board shall deem equitable in the
circumstances, terminate the Options by written notice to the then holders of
the Options.

                  6.5 Adjustment for Change in Common Units. In the event of a
recapitalization, reorganization, unit or stock split, unit or stock dividend,
combination of units or shares, consolidation, merger or other change in any
class of Common Units, the Board may, in order to prevent the dilution or
enlargement of rights under the Plan or outstanding Options, adjust (1) the
number and type of units or shares or other consideration as to which options
may be granted under the Plan, (2) the number and type of units or shares
covered by outstanding Options, (3) the exercise prices specified therein and
(4) other provisions of this Plan which specify a number of units or shares, all
as such Board determines to be appropriate and equitable.

                  6.6 Rights of Participants. Nothing in the Plan shall (i)
interfere with or limit in any way the right of the Company or any Subsidiary to
terminate any Participant's employment at any time (with or without cause), or
(ii) confer upon any Participant any right to continue in the employ of the
Company or any Subsidiary for any period of time or to continue to receive such
Participant's current (or other) rate of compensation. No employee of the
Company or any of its Subsidiaries shall have a right to be selected as a
Participant or, having been so selected, to be selected again as a Participant.

                  6.7 Amendment, Suspension and Termination of Plan. The Board
may suspend or terminate the Plan or any portion thereof at any time and may
amend it from time to time in such respects as the Board may deem advisable;
provided, however, that no such amendment shall be made without equityholder
approval to the extent such approval is required by law, agreement or the rules
of any exchange upon which the Common Units are listed, and no such amendment,
suspension or termination shall impair the right of Participants under
outstanding Options without the consent of the Participants affected thereby. No
Options shall be granted hereunder after the tenth anniversary of the adoption
of the Plan.

                                      -15-
<PAGE>   16
                  6.8 Indemnification. In addition to such other rights of
indemnification as they may have as members of the Board or the Board, the
members of the Board and the Board shall be indemnified by the Company against
(i) all costs and expenses reasonably incurred by them in connection with any
action, suit or proceeding to which they or any of them may be party by reason
of any action taken or failure to act under or in connection with the Plan or
any Option granted under the Plan, and (ii) all amounts paid by them in
settlement thereof (provided such settlement is approved by independent legal
counsel selected by the Company) or paid by them in satisfaction of a judgment
in any such action, suit or proceeding; provided, however, that any such Board
member shall be entitled to the indemnification rights set forth in this Section
6.8 only if such member (1) acted in good faith and in a manner that such member
reasonably believed to be in, and not opposed to, the best interests of the
Company, and (2) with respect to any criminal action or proceeding, (A) had no
reasonable cause to believe that such conduct was unlawful, and (B) upon the
institution of any such action, suit or proceeding a Board member shall give the
Company written notice thereof and an opportunity to handle and defend the same
before such Board member undertakes to handle and defend it on his own behalf.

                  6.9 Restricted Securities. All Common Units issued upon the
exercise of any Options issued pursuant to the terms of this Plan shall
constitute "restricted securities," as that term is defined in Rule 144
promulgated by the Securities and Exchange Commission pursuant to the Securities
Act, and may not be Transferred except in compliance with the registration
requirements of the Securities Act or an exemption therefrom.

                                      -16-

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