Radar Market - The radar market utilizes microwave and power grid vacuum electron devices, amplifiers, receiver protectors and related equipment for air, ground and shipboard radar systems. The Companys vacuum electron devices have been an integral component of radar systems for over five decades. Sales in the radar market were $102.6 million in fiscal year 2003, compared to $93.2 million in fiscal year 2002 and $87.9 million in fiscal year 2001

EX-10.41 6 f95383exv10w41.txt EXHIBIT 10.41 Exhibit 10.41 November 2, 2002 Mr. Don Coleman 1 Toll Road Salisbury, MA 01952 Dear Don: As discussed, following is your revised compensation package: - - BASE SALARY: Bi-weekly of $6,115.38, which approximates $159,000.00 per year (payroll is based on 26 pay periods per year). - - MANAGEMENT INCENTIVE PLAN (MIP): Participation in the FY03 MIP, beginning October 1, 2002. - - EXECUTIVE CAR PROGRAM: Participation in the Company's Executive Car Program at the current FY03 level. - - INSURANCE: Business Travel: 3 x Base up to $1M (regular death) 6 x Base up to $1M (death by air) Special Death Benefit: 2 x weekly earnings, plus 1 day for each complete year of service - - RETIREMENT PLAN: Participation in a defined contribution plan (Qualified and Non-Qualified) - - RETIREMENT PLAN (CONTINUED): - Employee contribution rate of 0-18% Base Pay pre-post tax - Company contribution rate of 4.75% of base salary to the Qualified Plan - Company contribution rate of an additional 4.75% of employee base over social security wage base to the Non-Qualified Plan - made annually at calendar year-end (plan details to follow) - - EXECUTIVE PHYSICAL: Eligible to participate in the Executive Physical Program with reimbursement of up to $600 annually - - SEVERANCE AGREEMENT: Employment with the Company will be "at will," meaning that your employment with the Company may be terminated at any time for any reason. As described below, however, you will be entitled to the following in the event you are terminated without "cause:" Termination Without Cause Guaranteed - 6 months Salary Contingent - 6 months Salary Termination as a result of a "Change Of Control" Event- In the event that your termination is the result of a "change in control" event, the Severance Benefits outlined below will be applicable for such a termination if it occurs at any time during a two-year period following the date of that event. Guaranteed-12 Months Salary Benefits Full coverage at normal employee contribution rates for the duration of the severance. This benefit will be provided through COBRA. MIP 100% of the award that would have otherwise been earned - - SEVERANCE AGREEMENT (CONTINUED): Car Retain through severance period Outplacement Full outplacement service In order to receive the foregoing you shall execute a general release in favor of CPI. Sincerely, Joe Caldarelli CEO