Amendment to Employment Agreement between Servotronics, Inc. and Dr. Nicholas D. Trbovich, Sr. (July 2, 2009)
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Summary
This agreement is an amendment to the existing employment contract between Servotronics, Inc. and Dr. Nicholas D. Trbovich, Sr. It confirms previous amendments and updates the annual salary from $462,550 to $485,600, effective May 1, 2009. Both parties agree to this change, as indicated by their signatures. The amendment is effective upon acceptance by Dr. Trbovich.
EX-10.A1 2 extenaone.htm EMPLOYMENT AGREEMENT extenaone.htm
ACCEPTED AND AGREED
Exhibit 10(A)(1)
As of July 2, 2009
Dr. Nicholas D. Trbovich (Nicholas D. Trbovich, Sr.)
28 Tanglewood Drive, West
Orchard Park, NY 14127
Dear Dr. Nicholas D. Trbovich (Nicholas D. Trbovich, Sr.):
You and Servotronics, Inc. (the “Company”) are parties to an Employment Agreement, dated July 1, 2005 and ratified on June 30, 2006 pursuant to which you are employed by the Company. This letter confirms such Amended Employment Agreement and subsequent ratification and subsequent Amendments dated August 4, 2006, July 6, 2007, July 9, 2008 and December 31, 2008 and any and all other relevant amendments (the “Amended Agreement”).
This letter will also confirm your agreement and that of the Company (pursuant to a resolution of the Board of Directors passed at a meeting held on July 2, 2009) to amend Paragraph 3 of the Amended Agreement to delete “$462,550” and insert in its place “$485,600.00” (effective May 1, 2009) subject to your acceptance which will be indicated by your signature below.
If the foregoing meets with your approval and you are willing to become bound hereby, please sign and return to the undersigned the enclosed copy of this letter.
Very truly yours,
SERVOTRONICS, INC.
/s/ Bernadine E. Kucinski | | |||
Bernadine E. Kucinski, | | |||
Assistant Corporate Secretary | |
ACCEPTED AND AGREED
/s/ Dr. Nicholas D. Trbovich | As of July 2, 2009 | |||
Dr. Nicholas D. Trbovich | Date | |||
(Dr. Nicholas D. Trbovich, Sr.) | |