EXHIBIT 10.11
THIS AGREEMENT MADE IN DUPLICATE the 17 th day of June, 2002.
BETWEEN:
Bradley Bertouille,
(herein called " the Executive" )
OF THE FIRST PART,
- and -
Standard Aero Limited,
(herein called " the Corporation" )
OF TOE SECOND PART.
EMPLOYMENT AGREEMENT
- 2 -
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 Corporation' s 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,
-3-
payable in accordance with the Corporation' s 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 Executive' s annual salary shall be reviewed, and if appropriate, increased in accordance with the Corporation' s 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 Corporation' s policies.
4. The Corporation shall reimburse the Executive for all reasonable expenses (including travel expenses) in accordance with the Corporation' s expense policy.
5. The Executive shall be entitled to vacation in each year in accordance with the Corporation' s vacation policy.
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