Extension Letter to Employment Agreement between Axsys Technologies, Inc. and Stephen W. Bershad
Axsys Technologies, Inc. and Stephen W. Bershad have agreed to extend the initial term of Mr. Bershad's Employment Agreement until October 12, 2005. Either party may end this extended period earlier by providing 30 days' written notice. This letter serves as formal confirmation of the extension, pending Mr. Bershad's acceptance.
Exhibit 10.8
November 11, 2004
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, 2005, 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. | |||
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| By: | /s/ ELIOT M. FRIED. | |
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| Chairman of the Compensation | ||
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| Committee of the Board of Directors | ||
| Accepted and Agreed: |
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| /s/ STEPHEN W. BERSHAD |
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| Stephen W. Bershad |
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