Extension Agreement to Employment Agreement between Axsys Technologies, Inc. and Stephen W. Bershad

Summary

Axsys Technologies, Inc. and Stephen W. Bershad have agreed to extend the initial term of Mr. Bershad's Employment Agreement until October 12, 2006. Either party may terminate this extended period at their sole discretion with 30 days' written notice. This agreement formalizes the extension and requires Mr. Bershad's acceptance to be effective.

EX-10.1 2 a05-17929_1ex10d1.htm EX-10.1

Exhibit 10.1

 

August 4, 2005

 

Mr. Stephen W. Bershad

66 Arroyo Hondo Trail

Santa Fe, NM  87508

 

Dear Mr. Bershad:

 

Reference is made to the Employment Agreement, dated October 12, 2000 (the “Employment Agreement”), between Axsys Technologies, Inc. (the “Company”) and you.

 

The Company desires to extend the Initial Period (as defined in Section 2(a) of the Employment Agreement) until October 12, 2006, subject to the earlier termination of the Initial Period by you in your sole discretion or by the Company, acting through its Board of Directors, in its sole discretion, by 30 days’ prior written notice to the other.

 

If the foregoing extension of the Initial Period meets with your approval, please indicate your acceptance in the space provided below.

 

 

 

 

AXSYS TECHNOLOGIES, INC.

 

 

 

 

 

 

 

 

By:

  /s/ Eliot M. Fried

 

 

 

A member of the Compensation Committee

 

 

of the Board of Directors

 

 

 

 

 

 

Accepted and Agreed:

 

 

 

 

 

/s/ Stephen W. Bershad

 

 

 

Stephen W. Bershad

 

 

 

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