EX-10.9 EMPLOYMENT AGREEMENT

EX-10.9 5 g87777exv10w9.txt EX-10.9 EMPLOYMENT AGREEMENT Exhibit 10.9 (AGCO LOGO) AGCO Corporation TO: D. Millard FROM: R. J. Ratliff DATE: February 3, 2004 SUBJECT: DON MILLARD RESIGNATION AGREEMENT This is to confirm that Don Millard has been employed by AGCO Corporation since October 2000 under the terms and conditions of an Employment Services Agreement. Most recently he has served in the capacity of Executive Vice president, Chief Operating Officer and subject to a mutual agreement with the Board of Directors, his Employment Services Agreement will be terminated. The terms and conditions as outlined in his Employment Services Agreement shall apply except as modified in the following severance terms: Termination Date: Employee agrees to waive Ninety day notice and to an Effective Date of February 15, 2004 Vacation Benefit Employee agrees to waive any paid vacation for 2004. 2004 Incentive Bonus Employee waives any entitlement to any portion of the 2004 Incentive Bonus. LTIP Stock Company agrees to waive any restrictions on earned shares of stock, except those near term restrictions limited by law for insiders, which shall be withdrawn as soon as practical. Automobile/Computer The employee is authorized to purchase his automobile and or computer at the depreciated value as of February 15, 2004. The above represents an agreement between Don Millard and the Company on this date and any other claims or rights not specifically indicated in the Employment Services Agreement are expressly invalid. AGREED: AGCO CORPORATION ---------------------------- ----------------------------- Donald Millard Robert J. Ratliff, Chairman February 3, 2004 February 3, 2004