Employment Agreement Pension Addendum between Schade GmbH & Co. KG and Mr. Jurgen von Heyden (Dated July 15, 1997)

Summary

This agreement is an addendum to Mr. Jurgen von Heyden's management contract with Schade GmbH & Co. KG. It confirms that upon retirement, Mr. von Heyden will receive a pension from the company, which increases by DM 8,000 for each year of service. The pension becomes non-forfeitable after the first contract term if employment continues, but it is not protected in case of company insolvency. Pension payments start when Mr. von Heyden leaves the company, but not before age 63, and are prorated if he leaves mid-year.

EX-10.2 3 k02520exv10w2.txt EMPLOYMENT AGREEMENT-PENSION ADDENDUM, DATED 7/15/97 EXHIBIT 10.2 Mr. Jurgen von Heyden SCHADE GmbH & Co. KG Am Buschhauschen 19 42115 Wuppertal Germany 15 July 1997 Dear Mr. von Heyden, Supplementary to your management contract and with regard to your retirement pension, we hereby confirm that, upon retirement, you will receive a retirement pension from Schade GmbH & Co. KG. This shall increase by the gross annual sum of DM 8,000 for each year of service. This agreement shall be non-forfeitable after the first contractual term, provided that the contractual relationship is continued. For form's sake, we would like to stress that this non- Forfeiture is not insolvency-protected. The pension payments shall begin at such time when you leave the employ of the company, but no earlier than your sixty-third birthday. Should you leave the company in the course of a year of service, the annual amount shall be calculated on a pro rata basis. Best regards /s/ Dr. Iber-Schade /s/ H. Hammerstein /s/ Dr. Heyn - ------------------- ------------------ ------------ Dr. Iber-Schade H. Hammerstein Dr. Heyn