APPLIANCES & ELECTRONICS Compensation Agreement

Exhibit 10.3

APPLIANCES & ELECTRONICS

Compensation Agreement

Employee Name: Xxxx Xxxxxx

Position: Vice President - Commercial Business Development

Promotion: —

Effective Date:

Wages

Salary:

— 2004-2005 Year 1: $125,000 annual — $4,807.69 per two-week pay period

— 2006 Year 2: $135,000 annual — $5,192.30 per two-week pay period

— 2007 Year 3: $145,000 annual — $5,576.92 per two-week pay period

Bonus:

— 2004 Year-End: $100,000

— thereafter - $100,000 potential based on targets payable end of Fiscal year ($50,000 guaranteed for 2005)

Commission:

— 50% of profit on XX Xxxxx Distribution & Sales not to XX Xxxxx—split 3 ways; (X. Xxxxxx to receive 1/3)

Long-Term Compensation:

— Stay on incentive of $375,000 payable at end of 5 years employment

— Stock options same as other management level plans

[Involuntary termination of employment prior to 5 years will result in early payout of Stay On Incentive; Voluntary termination will result in forfeiture]

Incentive Benefits:

— Participation in Non-Qualified Pension

— 401(k)

— 3 weeks vacation beginning 2005

Other

Company provided cellular phone/plan

Car Allowance of $500 per month

As agreed this 10th day of September, 2004:

/s/ Xxxx X. Xxxxxx				/s/ Xxxxx X. Xxxxxxxxxxx
Signature				Signature
Xxxx X. Xxxxxx				Xxxxx X. Xxxxxxxxxxx
Printed Name				Printed Name
September 7, 2004				September 7, 2004
Date				Date