Amendment No. 1 to Employment Agreement between American Technical Ceramics Corp. and David Ott

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between American Technical Ceramics Corp. and David Ott. It clarifies that Mr. Ott is entitled to participate in the company's Officers' Profit Bonus Plan during his employment. It also specifies that if his employment is terminated for reasons not listed in the agreement, and he complies with certain sections, he will continue to receive his base salary for one year after termination. All other terms of the original agreement remain unchanged.

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EX-10.(R)(I) 4 doc3.txt AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT BETWEEN AMERICAN TECHNICAL CERAMICS CORP. AND DAVID OTT The Employment Agreement, dated as of January 1, 2001 (the "Agreement"), between American Technical Ceramics Corp., a Delaware corporation (the "Company"), and David Ott is hereby amended as follows: 1. The first sentence of Paragraph 4(b) of the Agreement is hereby amended in its entirety to read as follows: "During the Employment Period, Employee shall also be entitled to participate in the Company's Officers' Profit Bonus Plan (the "Plan")." 2. Paragraph 6(c) of the Agreement is hereby amended in its entirety to read as follows: "If Employee's employment by the Company pursuant to this Agreement is terminated prior to the expiration of the Employment Period for any reason other than any of the reasons set forth in Paragraph 6(a), or for no reason, then, provided Employee continues to abide by the provisions of Section 7, 8 and 9 of this Agreement, the Company shall continue to pay to Employee his base salary at the rate and at the times provided in Section 4(a) hereof for a period of one year from the date upon which such termination shall take effect." 3. As amended hereby, the Amendment remains in full force and effect. IN WITNESS WHEREOF, the parties have executed this Agreement effective as of January 1, 2001. AMERICAN TECHNICAL CERAMICS CORP. By: --------------------------------------- Kathleen M. Kelly Vice President, Administration --------------------------------------- David Ott -2-