Document:

AMENDMENT TO EMPLOYMENT AGREEMENT

          THIS
AMENDMENT (this “Amendment”), dated
December 8, 2011, is made by and between VISHAY PRECISION GROUP, INC., a
Delaware corporation, and THOMAS KIEFFER (the “Executive”). 

          WHEREAS, the Company and the Executive are parties to an employment
agreement, dated November 17, 2010 (the “Employment Agreement”);

          WHEREAS, Section 8.5 of the Employment Agreement provides that the
Company and the Executive may amend the Employment Agreement by mutual agreement
in writing; and 

          WHEREAS, the Company and the Executive desire to amend the Employment
Agreement as set forth herein. 

          NOW
THEREFORE, in consideration of the
premises and the mutual benefits to be derived herefrom and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: 

          1. The
last sentence of Section 4.2(a) of the Employment Agreement is hereby amended to
read as follows: 

          “(a)
With respect to the fiscal years referred to on Exhibit A attached hereto, Executive
shall be eligible to earn a Bonus based on the attainment of the Performance
Goals set forth on such Exhibit
A.” 

          2.
Section 4.2(c) of the Employment Agreement is hereby amended in its entirety to
read as follows: 

          “(c)
For each fiscal year during the Term, the Bonus (if any) shall be paid on the
fifth consecutive trading day after the date that the Company releases earnings
for the prior fiscal year; provided, however, that if the Company does not
release earnings on or before December 15th of the fiscal year immediately
following the fiscal year with respect to which the Bonus relates, no Bonus
shall be paid in respect of such prior fiscal year.” 

          3.
Section 4.3 of the Employment Agreement is hereby amended in its entirety to
read as follows: 

          “4.3
Long-Term Equity Incentive.

               (a)
Fiscal Year 2011 Annual Equity
Grant.

                    (i)
With respect to the Company’s 2011 fiscal year (“Fiscal 2011”), Executive shall be eligible to receive a
restricted stock unit award with respect to shares of Common Stock (the “2011 LTI Award”), with a target value
equal to 30% of Base Salary. The actual amount of the 2011 LTI Award payable to Executive shall be determined by the Board of
Directors upon recommendation of the Compensation Committee, and shall be based upon the Company’s achievement of the “2011
Bonus Performance Goals” set forth on Exhibit A attached hereto. The value of the 2011 LTI Award granted to Executive hereunder
shall be equal to 15% of Base Salary on the 2011 LTI Grant Date (as defined below) if 80% of the annual Performance Goals are
achieved. In addition, the value of the 2011 LTI Award granted to Executive (if any) shall increase by 0.75% of Base Salary for
each additional 1% of the Fiscal 2011 Performance Goals which are achieved for Fiscal 2011, provided that the maximum 2011 LTI
Award which Executive shall be eligible to earn is 30% of Base Salary. To the extent that the Executive earns a 2011 LTI Award
based on the achievement of the 2011 Bonus Performance Goals pursuant to this Section 4.3(a)(i), the Company shall issue to Executive
a restricted stock unit (“RSU”) award with the number of shares of Common Stock issued in respect of such award
determined by dividing the amount of the 2011 LTI Award by the average closing price of Common Stock for the five (5) consecutive
trading days starting with the first trading day immediately after the date that the Company releases earnings for the 2011 fiscal
year (the “2011 Release Date”); provided, however, that if the 2011 Release Date does not occur on or before
December 15, 2012, no 2011 LTI Award shall be granted.

                    (ii)
The 2011 LTI Award shall vest 25% on the 2011 LTI Grant Date and 25% on each of
the next three anniversaries of the 2011 LTI Grant Date; provided that Executive
remains continuously employed by the Company through each such vesting date;
provided, further that the 2011 LTI Award shall become 100% vested and be paid
upon a Change in Control or upon Executive’s termination of employment by the
Company without Cause, Executive’s resignation for Good Reason, or termination
of employment due to Disability or death. 

                    (iii)
The 2011 LTI Award (if any) shall be granted to Executive at the close of
business on the fifth consecutive trading day (beginning with the trading day
immediately after the 2011 Release Date) following the 2011 Release Date (the
“2011 LTI Grant Date”). 

               (b)
Annual Equity Grant Commencing with Fiscal
Year 2012. Commencing on January 1, 2012 and
on each January 1 thereafter during the Term, the Company shall grant Executive
an annual equity award under the Company’s 2010 Stock Incentive Program (or any
successor plan or arrangement thereof) having a value approximately equal to 38%
of Executive’s Base Salary on such date (the “Annual Equity Grant”). Twenty-five
percent (25%) of each Annual Equity Grant shall be in the form of RSUs, and
seventy-five percent (75%) shall be in the form of performance-based restricted
stock units (“PBRSUs”). The number of shares of Common Stock subject to such RSUs
and PBRSUs shall be determined by dividing the applicable amount of the Annual
Equity Grant by the average closing price of Common Stock on the New York Stock
Exchange for the five (5) consecutive trading days immediately preceding each
January 1. Subject to Executive’s continued employment with the Company, the
RSUs and PBRSUs shall vest on January 1 of the third year following their grant,
provided that, in the case of the PBRSUs, such PBRSUs shall vest only to the
extent the performance criteria applicable to the PBRSUs are realized, with such
performance criteria and extent of vesting established by the Compensation
Committee. In the event of the termination of Executive’s employment with the
Company by the Company without Cause, by Executive for Good Reason, or as a
result of Executive’s death or Disability, the outstanding RSUs granted pursuant
to this Section 4.3(b) shall immediately vest and the outstanding PBRSUs granted
pursuant to this Section 4.3(b) shall vest on their normal vesting date to the
extent the applicable performance criteria are realized. In the event of a
Change in Control, all of such outstanding RSUs and PBRSUs shall immediately
vest.” 

-2-

          4. The
“2011 Bonus Performance Goals” as set forth on Exhibit A to the Employment Agreement are hereby amended in their entirety as
follows: 

“2011
Bonus Performance Goals 

With respect
to fiscal year 2011 and, in each case, as established by the Board (or its
designee) for such year:

(A) 50% of
the Bonus and 50% of the 2011 LTI Award shall be conditioned on the achievement
of certain personal objectives applicable to the Chief Technology Officer
position of the Company; 

(B) 12.5% of
the Bonus and 12.5% of the 2011 LTI Award shall be conditioned on the Company’s
achievement of certain levels of Adjusted Operating Margin for such fiscal
year;

(C) 12.5% of
the Bonus and 12.5% of the 2011 LTI Award shall be conditioned on the Company’s
achievement of certain levels of Adjusted EBITDA for such fiscal
year;

(D) 20% of
the Bonus and 20% of the 2011 LTI Award shall be conditioned on the attainment
of certain levels of operating margin applicable to the Micro Measurements
Division of the Company for such year; and

(E) 5% of
the Bonus and 5% of the 2011 LTI Award shall be conditioned on the achievement
of certain levels of inventory turnover with respect to the Micro Measurements
Division of the Company for such year. 

Provided,
however, that the Board (or its designee) shall determine in its sole discretion
the extent to which each and any such criteria has been attained in such fiscal
year. 

          5. The
“2012 Bonus Performance Goals” as set forth on Exhibit A to the Employment Agreement are hereby amended in their entirety as
follows: 

“2012
Bonus Performance Goals

With respect
to fiscal year 2012 and, in each case, as established by the Board (or its
designee) for such year:

(A) 50% of
the Bonus shall be conditioned on the achievement of certain personal objectives
applicable to the Chief Technology Officer position of the Company; 

(B) 12.5% of
the Bonus shall be conditioned on the Company’s achievement of certain levels of
Adjusted Operating Margin for such fiscal year;

(C) 12.5% of
the Bonus shall be conditioned on the Company’s achievement of certain levels of
Adjusted EBITDA for such fiscal year;

(D) 20% of
the Bonus shall be conditioned on the attainment of certain levels of operating
margin applicable to the Micro Measurements Division of the Company for such
year; and

(E) 5% of
the Bonus shall be conditioned on the achievement of certain levels of inventory
turnover with respect to the Micro Measurements Division of the Company for such
year. 

Provided,
however, that the Board (or its designee) shall determine in its sole discretion
the extent to which each and any such criteria has been attained in such fiscal
year.

-3-

          6. The
following is hereby added to the end of Exhibit A to the Employment Agreement:

“Bonus
Performance Goals After 2012

With respect
to fiscal year 2013 and for each fiscal year thereafter, in each case, as
established by the Board (or its designee) for such year:

(A) 50% of
the Bonus shall be conditioned on the achievement of certain personal objectives
applicable to the Chief Technology Officer position of the Company;

(B) 25% of
the Bonus shall be conditioned on the Company’s achievement of certain levels of
Adjusted Operating Margin for such fiscal year; and

(C) 25% of
the Bonus shall be conditioned on the Company’s achievement of certain levels of
Adjusted EBITDA for such fiscal year. 

Provided,
however, that the Board (or its designee) shall determine in its sole discretion
the extent to which each and any such criteria has been attained in such fiscal
year.” 

          7.
Except as set forth in this Amendment, all other terms and conditions of the
Employment Agreement shall remain unchanged and
in full force and effect. 

          8.
This Amendment may be executed in one or more counterparts, each of which shall
for all purposes be deemed to be an original and all of which shall constitute
the same instrument. 

<signature page follows>

-4-

          IN
WITNESS WHEREOF, the Company has caused this Amendment to be executed by its
duly authorized officer, and Executive has executed this Amendment, in each case
on the 8th day of December, 2011. 

	
      VISHAY PRECISION GROUP, INC.
      

		  
	By:	/s/ Ziv
      Shoshani
		 
	Title:  	President and
      Chief Executive Officer
		 
		 
		/s/ Thomas
      Kieffer
		 
		THOMAS
      KIEFFER

-5-fs1a2ex4i_chart.htm

Exhibit 4.1

SPECIMEN UNIT CERTIFICATE

NUMBER               UNITS

U-[●]

SEE REVERSE FOR CERTAIN

DEFINITIONS

CUSIP 161151 204

 

CHART ACQUISITION CORP.

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND ONE WARRANT TO PURCHASE ONE SHARE OF COMMON STOCK

 

THIS CERTIFIES THAT                                                                                                                                                                                                              is the owner of                                                                                                         Units.

 

Each Unit (“Unit”) consists of one (1) share of common stock, $.0001 par value per share (the “Common Stock”), of Chart Acquisition Corp., a Delaware corporation (the “Corporation”), and one warrant (the “Warrants”). Each Warrant entitles the holder to purchase one (1) share of Common Stock for $11.50 per share (subject to adjustment). Each Warrant will become exercisable on the later of: (i) thirty (30) days after the Corporation’s initial completion of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Corporation and one or more businesses (a “Business Combination”), or (ii) twelve (12) months from the closing of the Corporation’s initial public offering, and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which the Corporation completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration Date”).   The Warrant included in this Unit will not become exercisable and will expire worthless in the event the Corporation fails to consummate a Business Combination within 21 months of the date of the final prospectus relating to the Company’s initial public offering.

The shares of Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately prior to [              ], 2012, unless Cowen and Company, LLC elects to allow separate trading earlier, subject to the Corporation’s filing of a Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting the Corporation’s receipt of the gross proceeds of the offering and issuing a press release announcing when separate trading will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of [             ], 2012, between the Corporation and Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at 17 Battery Place, New York, New York 10004, and are available to any Warrant holder on written request and without cost.

 

This certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Corporation.

 

Witness the facsimile signature of its duly authorized officers.

	  	  	  
	
President

	  	
Secretary

 

  

  

  

 

 

CHART ACQUISITION CORP.

The Corporation will furnish without charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of shares or series thereof of the Corporation and the qualifications, limitations, or restrictions of such preferences and/or rights. This certificate and the Units represented hereby are issued and shall be held subject to the terms and conditions applicable to the securities underlying and comprising the Units, including, as applicable, the Certificate of Incorporation and all amendments thereto, the Warrant Agreement and the resolutions of the Board of Directors providing for the issue of securities (copies of which may be obtained from the secretary of the Corporation), to all of which the holder(s) of this certificate by acceptance hereof assents.

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
TEN COM

	  	
—

	  	
as tenants in common

	  	
     UNIF GIFT MIN ACT

	  	
—

	  	
                      Custodian

	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	
                      

	
TEN ENT

	  	
—

	  	
as tenants by the entireties

	  	  	  	  	  	
(Cust)

	  	  	  	  	  	  	  	  	  	  	
(Minor)

	  	  	  	  	  	  	  	  	  	  	
Under Uniform Gifts to

Minors

	
JT TEN

	  	
—

	  	
as joint tenants with right of

survivorship and not as

tenants in common

	  	  	  	  	  	
Act                                        

	  	  	  	  	  	  	  	  	  	  	
(State)

 

Additional abbreviations may also be used though not in the above list.

 

     For value received,                      hereby sell, assign and transfer unto                     

	
PLEASE INSERT SOCIAL SECURITY OR

OTHER

IDENTIFYING NUMBER OF ASSIGNEE

	  	  

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

 

 

                                                                                                      Units represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

                                                                                                                          Attorney to transfer the said Units on the books of the within named Corporation with full power of substitution in the premises.

 

Dated                                         

  

  

  

 

 

	  	  	  	  
	  	
Notice:  

	  	
The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

	
Signature(s) Guaranteed:

	  	  
	  	  	  
	  	  	  
	
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

	  	  

The holder(s) of this certificate shall be entitled to receive a pro-rata portion of funds from the trust account only in the event that the Corporation redeems the shares of Common Stock sold in its initial public offering because it does not acquire, engage in a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Corporation and one or more businesses (a “Business Combination”) by [           ], 2013, or if the holder(s) seek(s) to redeem for cash his, her or its respective shares of Common Stock in connection with a tender offer (or proxy, solely in the event the Corporation is required to seek stockholder approval of the proposed Business Combination) setting forth the details of a proposed Business Combination or (c) the Corporation’s management otherwise resolves to liquidate the trust account and cease to pursue the consummation of a Business Combination at any time prior to [           ], 2013.  In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

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