10.1- Asset Purchase Agreement dated February 14, 2008 between the Company and SkyGuard, LLC

EX-10.2 3 a38303exv10w2.htm EXHIBIT 10.2 exv10w2

EXHIBIT 10.2

FIRST AMENDMENT TO EMPLOYMENT LETTER

THIS FIRST AMENDMENT TO EMPLOYMENT LETTER (the “Amendment”) is made effective as of the 15^th day of February, 2008, by and between Bell Industries, Inc., a California Corporation (“Bell”), and Kevin J. Thimjon (the “Executive”).

W I T N E S S E T H :

WHEREAS, the Executive and Bell entered into an employment letter effective as January 5, 2007 (the “Employment Letter”);

WHEREAS, Bell and the Executive desire to modify the terms of the Executive’s employment under the Employment Letter.

NOW THEREFORE, the parties hereby covenant and agree as follows:

	1.		Effective Date. This Amendment shall become effective on the date hereof.

	2.		Position. The section of the Employment Letter titled “Position” is hereby amended and restated as follows:

“Position: President and Chief Financial Officer”

Base Annual Salary. The section of the Employment Letter titled “Base Annual Salary” is hereby amended and restated as follows:

“Base Annual Salary: $275,000, subject to applicable withholdings. Bell issues paychecks bi-weekly.”

IN WITNESS WHEREOF, this Amendment to Employment Letter is executed as of the day and year first written above.

Executive


/s/ Kevin J. Thimjon

Kevin J. Thimjon

Bell Industries, Inc.

By:		/s/ Clinton J. Coleman

		Name: Clinton J. Coleman Title: Chief Executive Officer