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EXHIBIT 10.11
THIS AGREEMENT MADE IN DUPLICATE the 17th day of June, 2002.
BETWEEN:
Bradley Bertouille,
(herein called the Executive)
OF THE FIRST PART,
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Standard Aero Limited,
(herein called the Corporation)
OF TOE SECOND PART.
EMPLOYMENT AGREEMENT
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THIS AGREEMENT MADE IN DUPLICATE the day of June, 2002.
BETWEEN:
Bradley Bertouille,
(herein called the Executive)
OF THE FIRST PART,
- and -
Standard Aero Limited,
(herein called the Corporation)
OF THE SECOND PART.
EMPLOYMENT AGREEMENT
WHEREAS the Executive is currently employed by the Corporation in an executive and managerial capacity;
AND WHEREAS a change in ultimate ownership of the Corporation may occur;
AND WHEREAS the Corporation wishes to ensure the Executive remains in the employ of the Corporation;
AND WHEREAS the Corporation and the Executive have agreed on terms of employment including termination provisions.
NOW THEREFORE WITNESSETH that in consideration of the premises and the mutual covenants herein contained, the parties hereto covenant and agree as follows:
1. The Executive shall continue to be employed by the Corporation in his position of Senior Vice President, Finance with his existing duties, responsibilities and authority, or in such other position for any of the Corporations related corporations, with such duties, responsibilities and authority, or determined by the Corporation.
2. The Corporation shall pay to the Executive an annual salary of $204,000.00 Canadian,
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payable in accordance with the Corporations policy for the payment of salaries. The Corporation shall withhold and deduct from each such payment all amounts required by law to be withheld or deducted. The Executives annual salary shall be reviewed, and if appropriate, increased in accordance with the Corporations usual policy for salary reviews and increases. The annual salary of the Executive as determined in accordance with this paragraph is herein called the Salary.
3. The Executive shall continue to be entitled to all benefits to which he is entitled on the date hereof, including the right to continued participation in employee benefit and pension plans, the use of a company motor vehicle, corporate membership, and participation in the management incentive scheme, all in accordance with the Corporations policies.
4. The Corporation shall reimburse the Executive for all reasonable expenses (including travel expenses) in accordance with the Corporations expense policy.
5. The Executive shall be entitled to vacation in each year in accordance with the Corporations vacation policy.
6. In the event of the termination of the Executives employment by the Corporation, except if terminated for just cause, the Executive shall be entitled to receive a lump sum payment equal to 150% of his then Salary, less all amounts required by law to be withheld or deducted therefrom. Such payment (herein the termination payment) shall be made within 14 days following the date of termination, and is hereby expressly acknowledged by the Executive to be in full payment and satisfaction of all amounts which the Executive may now or hereafter claim against the Corporation for payment in lieu of notice or damages relating to the termination of his employment (save and except only any claim for the reimbursements of earned salary, accrued vacation entitlement, and expenses incurred prior to the date of termination).
7. Notwithstanding paragraph 6 hereof, the Corporation and the Executive hereby agree that the Executives employment may be terminated at any time by the Corporation for just cause, in which event the Executive shall not be entitled to notice or payment in lieu of notice, or the termination payment referred to in paragraph 6 above.
8. Upon the termination of his employment, the Executive agrees to return forthwith to the Corporation all company property.
9. The Executive agrees that following the termination of his employment by the
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Corporation, he will n






