Date given to Employee: April 5, 2002 Employment Base: State of Illinois
AMENDED AND RESTATED
RELEASE OF ALL CLAIMS
This Separation Agreement and Release of All Claims (the “Agreement”) is made and entered into as of the 24 th
day of June, 2002, by and between Niels Erik Hansen (“Employee”) and Sauer-Danfoss Inc. (“Company”).
Employee is employed as Executive Vice President-Work Function and Control Products of the Company.
Employee and the Company are parties to the Employment Agreement dated May 3, 2000 (the “Employment
Agreement”). Employee desires to resign as an officer of the Company but to continue his employment with the
Company in an executive management position for a period of one year beginning July 1, 2002. The Company
desires to continue the employment of Employee upon the terms and conditions set forth in this Agreement.
In consideration of the promises, mutual covenants and agreements contained in this Agreement, Employee and
Company agree as follows:
1. Employee resigns from the office of Executive Vice President-Work Function and Control Products and
from any and all other offices, committee positions and/or directorships he holds with Company, effective
as of the close of business on June 30, 2002. Whenever this Agreement refers to the Employee’s
employment or positions with Company, or the termination of the Employee’s employment or resignation
from positions with the Company, the term “Company” shall include Sauer-Danfoss Inc., and any of its
subsidiaries or related or affiliated companies or joint ventures that employ the Employee or with which
the Employee holds a position. In addition, when used in paragraphs 13, 14, 15, 17 and 18, the term
“Company” shall include Sauer-Danfoss Inc. and any of its subsidiaries or related or affiliated companies
or joint ventures.
2. The Employee shall continue to be employed a