WILLIS LEASE FINANCE CORPORATION
Employment Contract for Nicholas J. Novasic, dated June 15, 2000
THIS EMPLOYMENT AGREEMENT (this "AGREEMENT") is made and entered into as of the 15th day of
June, 2000, by and between Willis Lease Finance Corporation, a Delaware corporation ("EMPLOYER"), and
Nicholas J. Novasic ("EMPLOYEE").
WHEREAS, Employee desires to become employed by Employer as its Executive Vice President, Finance and
Chief Financial Officer on the terms and conditions set forth herein, and Employer desires to employ Employee as
its Executive Vice President, Finance and Chief Financial Officer on such terms and conditions;
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, the mutual promises of the parties and the
mutual benefits they will gain by the performance thereof, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties 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 Executive Vice President, Finance and Chief Financial Officer of
Employer. Employee shall devote his full time and attention, with undivided loyalty, to the business and affairs of
Employer during the Employment Term. Employee shall not engage in any other business or job activity during
the Employment Term without Employer's prior written consent.
(a) The term of Employee's employment under this Agreement shall be for a two (2) year period commencing on