Custom Products Corporation 457 State Street North Haven, CT 06473
EXHIBIT 10.8
Custom Products Corporation
457 State Street
North Haven, CT 06473
February 9, 2005
Gerald H. Shaff
17 Whiting Farm Road
Branford, CT 06405
Dear Mr. Shaff:
This will confirm our agreement to renew your Employment Agreement with Custom Products Corporation (the Company) dated January 1, 2003 for a period of two (2) years (such period, the Renewal Period).
Notwithstanding that your Employment Agreement expired as of December 31, 2004 (the Original Expiration Date), each of us hereby acknowledges and agrees that your employment with the Company has been extended past the Original Expiration Date and has continued uninterrupted and on the original terms of your Employment Agreement. Further, each of us has waived the requirement in Section 2 of your Employment Agreement that the Employment Agreement must be renewed at least ninety (90) days prior to December 31, 2004.
Each of us now hereby agrees to extend your Employment Agreement for the full duration of the Renewal Period. The Renewal Period began as of the Original Expiration Date and will end on December 31, 2006 (such date, the New Expiration Date). Upon occurrence of the New Expiration Date, your Employment Agreement will expire, unless renewed or extended on terms mutually agreed in writing by you and the Company at least ninety (90) days prior to the New Expiration Date, or otherwise terminated as provided for in the terms of your Employment Agreement.
By signing a copy of this letter you confirm and agree that your Employment Agreement is hereby renewed in full force and effect, on the original terms.
Very truly yours,
CUSTOM PRODUCTS CORPORATION
By: | /s/ Raymond M. Soto | |
Raymond M. Soto | ||
Chairman |
Accepted and agreed as of the 9th day of February, 2005: | ||
By: | /s/ Gerald H. Shaff | |
Gerald H. Shaff |