EXHIBIT 10.2 EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND CHARLES F.
THIS EMPLOYMENT AGREEMENT (this "AGREEMENT") is made and entered into as of November 7,
2000, by and between Willis Lease Finance Corporation, a Delaware corporation ("EMPLOYER"), and Charles
F. Willis, IV ("EMPLOYEE").
WHEREAS, Employee is the Chairman of the Board, President and Chief Executive Officer of Employer;
WHEREAS, Employee and Employer desire to put into writing the terms of Employee's employment agreement;
WHEREAS, Employee acknowledges that he has had an opportunity to consider this Agreement and consult
with independent advisors of his choosing with regard to the terms of this Agreement, and enters this Agreement
voluntarily and with a full understanding of its terms.
NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Employer and Employee hereby agree as follows:
1. EMPLOYMENT. Employer hereby employs Employee and Employee hereby accepts employment, upon the
terms and conditions hereinafter set forth, as the Chairman of the Board, President and Chief Executive Officer of
(a) The term of Employee's employment under this Agreement shall be for a two (2) year period commencing on
or about September 1, 2000 and ending on September 1, 2002 (as may be extended hereunder, the
"EMPLOYMENT TERM"), unless otherwise terminated pursuant to the terms hereof. Each full twelve month
period Employee is employed by Employer shall be referred to herein as an "EMPLOYMENT YEAR."
(b) After the expiration of the initial Employment Term and until the Termination Date (as defined below),
Employee's employment will automatically renew for a period of one year, each year, on the same terms and
conditions as are set forth herein, unless either party gives the other written notice of nonrenewal at least six (6)
months prior to the e