Amendment dated March 22, 2019 to the Letter Agreement between the Company and Shubham Maheshwari

EX-10.5 6 veco-20190331ex105580360.htm EX-10.5 veco_Ex10_5

Exhibit 10.5


Veeco Instruments Inc.

1 Terminal Drive

Plainview, New York 11803 U.S.A.

Phone ###-###-####

Fax ###-###-####


March 22, 2019


Shubham (Sam) Maheshwari


Dear Sam:


Reference is made to the letter agreement between Veeco and you dated August 29, 2018 (the “Letter Agreement”).  This letter will confirm the parties’ agreement to amend the Letter Agreement, effective as of the date hereof, as follows:


The row entitled “2019 Annual Equity Award” in Exhibit A to the Letter Agreement shall be deleted in its entirety and the following shall be substituted therefor:


2019 Annual Equity Award

$850 to be granted in conjunction with 2019 annual award program (determined based upon an assumed value of the common stock of the Company of $15.00 per share), or 56,666 shares:

60% to be performance-based restricted stock units

40% to be time-based restricted stock subject to 4-year vesting


Except as set forth above, the Letter Agreement shall continue in accordance with its terms.  Executive agrees that the modification of the terms of his employment as set forth above shall not constitute Good Reason.


Please sign and return a copy of this letter to signify your agreement. 




/s/ Robert W. Bradshaw




Robert W. Bradshaw


Sr. Vice President, Human Resources









/s/ Shubham Maheshwari




Shubham Maheshwari