Extension Agreement to Employment Agreement between Axsys Technologies, Inc. and Stephen W. Bershad
This agreement, dated November 6, 2003, is between Axsys Technologies, Inc. and Stephen W. Bershad. It extends the initial term of Mr. Bershad's Employment Agreement from October 12, 2000, to October 12, 2004. Either Mr. Bershad or the Company, through its Board of Directors, may terminate the extended period at their discretion with 30 days' written notice. The extension is effective upon Mr. Bershad's acceptance and signature.
EXHIBIT 10.10
November 6, 2003
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, 2004, 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.
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| AXSYS TECHNOLOGIES, INC. | ||||||||
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| By: |
| /s/ Anthony J. Fiorelli, Jr. |
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| Chairman of the Compensation |
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| Committee of the Board of Directors | |||||||||
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| Accepted and Agreed: |
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| /s/ Stephen W. Bershad |
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| Stephen W. Bershad |
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