Fourth Amendment to Employment Agreement between Amtech Systems, Inc. and Fokko Pentinga

Summary

Amtech Systems, Inc. and Fokko Pentinga have amended their employment agreement to increase Mr. Pentinga’s annual base salary to $407,000 (or €343,055), raise the company’s D&O liability insurance coverage for his benefit to $10,000,000, and modify his car benefit to provide either a leased car or an allowance up to €29,500 per year. All other terms of the original agreement remain unchanged. This amendment is effective as of April 9, 2015.

EX-10.2 3 a102fokkoagmt.htm EXHIBIT 10.2 10.2 Fokko Agmt

FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT

WHEREAS, Amtech Systems, Inc. (the “Company”) and Fokko Pentinga (the “Executive”) entered into an Employment Agreement dated June 29, 2012 (with all subsequent amendments thereto, the “Agreement”); and

WHEREAS, the Company and the Executive desire to enter into this Fourth Amendment to Employment Agreement (this “Fourth Amendment”) in order to (i) increase the Executive’s base salary to US$407,000, or €343,055, per annum, (ii) increase the amount of D&O liability insurance maintained by the Company for the benefit of the Executive to $10,000,000, and (iii) modify the Executive’s annual car allowance benefit to provide that the Company shall offer the Executive either a leased automobile or an automobile allowance at a cost to the Company of not more than €29,500 per annum.

NOW, THEREFORE, the parties agree to the following amendment to the Agreement, to be effective as of the date set forth below, with all unmodified portions of the Agreement to remain in full force and effect:

The first sentence in Section 2 of the Agreement is hereby amended to read as follows: “For services rendered to the Company during the term of this Agreement, including services rendered as a Director of the Company or any of its affiliates, the Company shall compensate the Executive with an annual base salary of US$407,000, or €343,055, per annum, based on a six month average exchange rate fixed one day before the effective date of this Agreement.”


2.	The antepenultimate sentence in Section 5 of the Agreement is hereby amended to read as follows: “The Company shall also provide the Executive with a leased automobile or an automobile allowance at a cost of not more than €29,500 per annum.”


3.	In the first sentence of Section 15, the reference to “$1,000,000” shall be replaced with “$10,000,000”.

IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment as of April 9, 2015.

AMTECH SYSTEMS, INC.

By: /s/ Bradley C. Anderson

Name: Bradley C. Anderson

Title: Executive Vice President and

Chief Financial Officer

By: /s/ Fokko Pentinga

Name: Fokko Pentinga

Title: Executive