Retirement Compensation Agreement between National Presto Industries, Inc. and Mr. Bartl

Contract Categories: Human Resources › Retirement Agreements
Summary

National Presto Industries, Inc. agreed to pay Mr. Bartl, a retired executive officer, an annual retainer of $50,000 for each of the years 2007, 2008, and 2009. The payments are to be made quarterly and are not contingent on Mr. Bartl providing any services to the company during this period. This agreement recognizes Mr. Bartl's years of dedicated service to the company.

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EX-10.3 3 presto073500_ex10-3.htm MATERIAL CONTRACT FOR RETIRED EXEC. OFFICER National Presto Industries, Inc. Exhibit 10.3 to Form 10-K Dated December 31, 2006

EXHIBIT 10.3

 

MATERIAL CONTRACT FOR RETIRED EXECUTIVE OFFICER

 

At a special meeting of the Board of Directors on November 7, 2006, the Board of Directors, giving consideration to Mr. Bartl’s years of dedicated service to the Company approved that he be paid an annual retainer of $50,000 per year in calendar years 2007, 2008, and 2009, payable on a quarterly basis. Such retainer is to be paid to Mr. Bartl regardless whether he is willing or able to provide the Company any services during those years.