Amendment to Change in Control Severance Agreement between Versar, Inc. and Anthony L. Otten
This amendment extends the expiration date of the Change in Control Severance Agreement between Anthony L. Otten and Versar, Inc. from May 23, 2012 to March 15, 2014. All other terms of the original agreement remain unchanged. The amendment was agreed to by both parties, with signatures from the Chairman of the Board and Mr. Otten, the Chief Executive Officer.
February 23, 2012
Anthony L. Otten
4821 Woodway Lane NW
Washington DC
20016
Re: Amendment to Change in Control Severance Agreement
Dear Mr. Otten,
The Change in Control Severance Agreement (“Agreement) between yourself and Versar, Inc., (“Company”) executed on July 2, 2010 shall expire on May 23, 2012.
The Board of Directors in their February 7, 2012 meeting decided that all Change in Control Agreements Severance Agreements should expire at the same date.
This Letter Agreement amends Section 20 q(l)(a) of your Agreement to extend the term from May 23, 2012 to March 15, 2014.
All other terms and conditions of the Agreement remain unchanged.
If you agree, please sign below.
| Sincerely, | ||
| /s/ Paul J. Hoeper | ||
| Paul J. Hoeper | ||
| Chairman of the Board | ||
| ACCEPTED AND AGREED | ||
| /s/ Anthony L. Otten | ||
| Anthony L. Otten | ||
| Chief Executive Officer | ||
| Date: | March 9, 2012 | |
