Document:

extenatwo.htm

Exhibit 10(A)(2)

As of February 22, 2010

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, December 31, 2008 and as of July 2, 2009 and any and all other relevant amendments (the “Amended Agreement”).

This letter will also confirm your agreement and that of the Company by action of Unanimous Written Consent dated as of February 22, 2010 to Amend Paragraph 1 of the Amended Agreement to delete “July 1, 2010” and insert in its place “December 31, 2013” 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 February 22, 2010

	 
	
Dr. Nicholas D. Trbovich

	 	 	
Date 

	 
	
(Nicholas D. Trbovich, Sr.)extenathree.htm

Exhibit 10(A)(3)

As of July 2, 2009

Nicholas D. Trbovich, Jr.

28 Tanglewood Drive, West

Orchard Park, NY 14127

Dear Mr. Nicholas D. Trbovich, Jr.:

You and Servotronics, Inc. (the “Company”) are parties to an Amended 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 “$275,000” and insert in its place “$288,750.00” (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, will you 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/ Nicholas D. Trbovich, Jr.

	 	 	
As of July 2, 2009

	 
	
Nicholas D. Trbovich, Jr.

	 	 	
Dateextenafour.htm

Exhibit 10(A)(4)

As of February 22, 2010

Nicholas D. Trbovich, Jr.

28 Tanglewood Drive, West

Orchard Park, NY 14127

Dear Mr. Nicholas D. Trbovich, Jr.:

You and Servotronics, Inc. (the “Company”) are parties to an Amended 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, December 31, 2008 and as of July 2, 2009 and any and all other relevant amendments (the “Amended Agreement”).

This letter will also confirm your agreement and that of the Company by action of Unanimous Written Consent dated as of February 22, 2010 to Amend Paragraph 1 of the Amended Agreement to delete “July 1, 2013” and insert in its place “December 31, 2015” 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, will you 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/ Nicholas D. Trbovich, Jr.

	 	 	
As of February 22, 2010

	 
	
Nicholas D. Trbovich, Jr.

	 	 	
Dateextendone.htm

10(D)(1)

 

AMENDMENT NO. 1

 

to the

 

SERVOTRONICS, INC.

 

2000 EMPLOYEES STOCK OPTION PLAN

 

WHEREAS, Servotronics, Inc. (the “Company”), established the Servotronics, Inc. 2000 Employees Stock Option Plan (the “Plan”), and

 

WHEREAS, the Board of Directors of the Company reserved the right to amend the Plan at any time, provided the amendment does not adversely affect any right of any holder of an option already granted without such optionee’s consent; and

 

WHEREAS, the Board of Directors has approved the amendment of the Plan set forth below.

 

NOW, THEREFORE, the Plan is amended as follows:

 

1. Section 6 of the Plan is hereby amended by adding to the end thereof a new subsection (j), as follows:

 

j.           Each Key Employee to whom a non-qualified stock option is granted pursuant to this Plan may, in the Optionee's sole discretion, offer to surrender to the Company some or all of such Options that are currently exercisable in exchange for a payment by Company check not exceeding the aggregate current Fair Market Value of the shares of the Company's Common Stock which would have been issuable upon the exercise of the Options offered for surrender, less the aggregate exercise price of such Options plus a single transaction fee of $350.  The Company, in its sole discretion, may accept or reject the Optionee's offer.  The Chief Executive Officer of the Company, or any person to whom he delegates this authority, is authorized on behalf of the Company, to accept or reject the Optionee's offer in his or her sole discretion.  If the Company does not accept the Optionee's offer, the Optionee will retain such Options, which will remain exercisable according to their terms and, before expiration, may again be offered by the Optionee at the Optionee's discretion for surrender to the Company by Optionee (if not previously exercised) in accordance with the preceding provisions of this subsection (j).”

 

IN WITNESS WHEREOF, the Company has caused this amendment to be executed as of February 22, 2010.

 

 

	 	SERVOTRONICS, INC.	 
	 	 	 	 
	 	 	 	 
	 	 	 /s/ Dr. Nicholas D. Trbovich, President	 
	 	 	 	 
	
 

	
By: 

	Dr. Nicholas D. Trbovich	 
	 	 	Presidentextendtwo.htm

10(D)(2)

 

AMENDMENT NO. 2

 

to the

 

SERVOTRONICS, INC.

 

2001 LONG-TERM STOCK INCENTIVE PLAN

 

WHEREAS, Servotronics, Inc. (the “Company”), established the Servotronics, Inc. 2001 Long-Term Stock Incentive Plan (the “Plan”), effective July 3, 2001, and

 

WHEREAS, the Board of Directors of the Company reserved the right to amend the Plan at any time, provided the amendment does not have an adverse effect on the rights of any participant under any outstanding award or, without the approval of the Company's stockholders, increase the aggregate number of shares for which awards may be granted or decrease the minimum exercise price specified in respect of options or change the class of employees eligible to receive incentive stock options under the Plan, and

 

WHEREAS, the Board of Directors previously adopted Amendment No. 1 to the Plan, which provides that Optionees can offer to surrender to the Company certain Options in exchange for a payment from the Company; and

 

WHEREAS, the Company desires to clarify the Options to which Amendment No. 1 applies;  and

 

WHEREAS, the Board of Directors has approved the amendment of the Plan set forth below;

 

NOW, THEREFORE, the Plan is hereby amended effective as of January 30, 2008 as follows:

 

1. The additional paragraph added to the end of Section 6.7 (entitled “Exercise of Options”) by Amendment No. 1 is hereby amended to read as follows, effective as if included in the said Amendment No. 1:

 

“Each Optionee of Options that are NQSOs granted pursuant to this Plan may, in the Optionee's sole discretion, offer to surrender to the Company some or all of the Optionee's currently exercisable NQSOs in exchange for a payment by Company check not exceeding the aggregate Current Market Value of the Company's Common Stock which would have been issuable on exercise of such  Options offered for surrender, less the aggregate exercise price of such Options, and plus a single transaction fee of $350.  The Company, in its sole discretion, may accept or reject the Optionee's offer.  The Chief Executive Officer of the Company, or any person to whom he delegates this authority, is authorized on behalf of the Company, to accept or reject the Optionee's offer in his or her sole discretion.  If the Company does not accept the Optionee's offer, the Optionee will retain the offered Options, which will remain exercisable according to their terms and, before expiration, may again be offered by Optionee at Optionee's discretion for surrender to the Company by Optionee (if not previously exercised) in accordance with the preceding provisions of this paragraph.”

 

IN WITNESS WHEREOF, the Company has caused this amendment to be executed as of February 22, 2010, effective as of January 30, 2008..

 

 

	 	SERVOTRONICS, INC.	 
	 	 	 	 
	 	 	 /s/ Dr. Nicholas D. Trbovich, President	 
	 	 	 	 
	
 

	
By: 

	Dr. Nicholas D. Trbovich	 
	 	 	President

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