Employment Agreement between EWCO & C. David Weaver

EX-10.9 29 k88598exv10w9.txt EMPLOYMENT AGREEMENT BETWEEN EWCO & C. DAVID WEAVER EXHIBIT 10.9 September 27, 2002 C. David Weaver 8910 Morris Rd. Goodels MI 48027 Dear David, I am pleased to offer you the position of VICE PRESIDENT SALES & ENGINEERING for the SpaceRak Division of Eugene Welding Company. SALARY - $92,000 INCENTIVE COMPENSATION - (paid 1st Qtr of fiscal year and pro rata for less than year) - 20% of salary if Division is profitable - 25% if Division exceeds budget by 10% CAR ALLOWANCE - $350 per month plus fuel & oil changes. PAID VACATION - 4 weeks (comp time for hours over 48 per week) MAJOR MEDICAL & DENTAL - Teamsters Health & Welfare Plan Administered by Blue Cross/Blue Shield.(employee co pays 1/3 of weekly premium) 401K PLAN - Company match of 50% up to 5% of income. BONUS SHORTFALL - EWCO will compensate for any difference (shortfall) in payout of expected Unarco 2002 bonus of $17,870. SIGNING BONUS - $5000 if you begin EWCO employment no later than Oct 14, 2002. SEPARATION AGREEMENT - In the event of termination of employment for any reason other than cause (illegal or unethical conduct) you will receive 6 months salary and medical benefits continuation. Please advise if this is acceptable. Sincerely, C. A. Vanella