CEO/President Compensation Agreement between New Brunswick Scientific Co., Inc. and James Orcutt

Summary

This agreement outlines the compensation package for James Orcutt as he assumes the role of Chief Executive Officer and President of New Brunswick Scientific Co., Inc., effective January 1, 2007. Mr. Orcutt will receive a base salary of $265,000, a discretionary bonus at 40% based on current criteria, at least 25,000 stock options (pending board approval), four weeks of vacation, and continuation of existing benefits such as health coverage and car allowance. The bonus structure may be revised in 2008 to include performance-based incentives.

EX-10.3 4 ceopresidentcompe.txt CEO/PRESIDENT COMPENATION AGREEMENT EXHIBIT 10.3 New Brunswick Scientific Co., Inc. Independent Directors November 13, 2006 Mr. James Orcutt, President New Brunswick Scientific Co., Inc. Dear Jim, The independent Directors have agreed to offer you the following compensation effective January 1, 2007 upon your assuming the position of Chief Executive Officer and President of NBSC: 1. Base salary: $265,000 2. Discretionary bonus based on present criteria at 40%. We intend to review the bonus structure for 2008 with the expectation of adding an incentive program based on objective performance criteria. 3. At least 25,000 in stock options, subject to approval by the Board of Directors 4. Four weeks vacation. 5. All other existing fringes to be continued including golf club, car, health coverage, insurance, etc. We would appreciate your signing this letter to indicate understanding and concurrence. For the Independent Directors: Acceptance by: /s/ Peter A. Schkeeper 11/14/06 /s/ James Orcutt 11/13/06 - --------------------------------- ---------------- -------- Peter A. Schkeeper Date James Orcutt Date: