Employment Agreement Extension between NAPCO Security Technologies, Inc. and Michael A. Carrieri (2022–2024)
NAPCO Security Technologies, Inc. and Michael A. Carrieri have agreed to extend Mr. Carrieri's employment as Senior Vice President of Engineering Development for two years, from August 16, 2022, to August 15, 2024. His annual salary will be $361,036.92, with the possibility of discretionary increases and bonuses based on annual performance reviews. All other employment terms remain as previously agreed, except for updated compensation figures. The agreement formalizes the extension and requires Mr. Carrieri's acceptance.
EXHIBIT 10.M
October 21, 2021
Mr. Michael A. Carrieri
Senior Vice President of
Engineering Development
NAPCO Security Technologies, Inc.
333 Bayview Avenue
Amityville, New York 11701
Re: Employment Agreement
Dear Michael:
NAPCO is pleased to extend, and desires to formalize, a two-year Employment Agreement (from August 16, 2022 through August 15, 2024 at your annual salary of $361,036.92, but subject to discretionary salary increases and bonuses during each of your annual performance evaluations.
All other terms and conditions of your employment will remain the same as set forth in your Employment Agreement dated October 11, 2002 (with the obvious exception that the monetary values set forth in Section III have been modified over the years). Please sign below to acknowledge your acceptance of your extended two-year Employment Agreement.
Kindest personal regards.
Sincerely,
NAPCO SECURITY TECHNOLOGIES, INC.
/s/ RICHARD SOLOWAY |
Richard L. Soloway Chairman of the Board |
Accepted By:
/s/ MICHAEL CARRIERI |
Michael A. Carrieri |
Dated: October 26, 2021
