Document:

Exhibit 10.40

October 3, 2000

Mr. Guy Broadbent
8 Crestview Lane
Sparta, NJ 07871

Dear Guy:

I am pleased to extend an employment offer to you as President of the Optical
Technologies Sector of Thermo Electron, beginning on October 13, 2000. The
President title will be confirmed by the Thermo Electron Board of Directors at
their next meeting.

In your new position you will report directly to Marijn Dekkers. Your starting
salary will be $22,500 per month ($270,000 annualized).

You will participate in Thermo Electron's management bonus plan, which provides
you the opportunity to earn additional compensation based on individual and
company performance. Your reference bonus is $135,000 subject to a multiplier of
0-2 times based on a combination of subjective and objective factors, the
details of which will be provided to you. To be eligible for a bonus payment, a
participant must be actively employed at the end of the bonus plan period. Your
2000 bonus is guaranteed at $135,000.

In addition, I intend to recommend to the Human Resource Committee of the Thermo
Electron Board of Directors to approve the issuance to you of options to
purchase 100,000 shares of Thermo Electron stock at market value at the date of
grant. The options are 7 year options, vesting over a 3 year period, and are
subject to all terms and conditions of the stock option agreement, which will be
given to you when approved.

I will also recommend to the Human Resource Committee of the Thermo Electron
Board of Directors the award of 6,000 shares of restricted stock of Thermo
Electron Corporation. The award will have a term of 3 years and vest 33% per
year beginning on the first anniversary of the grant date, and is subject to all
terms and conditions of an agreement which will be given to you when approved.

You will receive a relocation bonus equal to two months of your salary grossed
up and a sign on bonus equal to $50,000.

To assist you in relocating to the Boston area we will provide you with
relocation support that is described in the attached document. In addition,
Thermo Electron will reimburse you for up to 3 points on your home mortgage.

As an officer of Thermo Electron, you will receive our executive health
insurance supplement. This $5,000 annual supplement will be paid to you in
$1,250 quarterly payments. These funds are for your discretionary use, are not
restricted to medical payments and are taxable income.

<PAGE>

Mr. Guy Broadbent
October 3, 2000
Page Two

Upon employment, you are eligible to participate in the Company's standard
employee benefit programs. You will be eligible to accrue vacation at the rate
of 4 weeks per year.

You will also be entitled to participate in our car lease/allowance program.
Under this program, you may either have the company lease a company car for you
or receive a quarterly allowance of $3,125.

If you decide to have the company lease a vehicle, you can select the make,
model and options as long as the vehicle is appropriate for business use. If the
acquisition cost of the car exceeds $26,000, the balance will be deducted from
your payroll checks. The sales tax and insurance are paid separately by the
company and are not calculated in the $26,000 limit.

In accordance with the Company's standard employment practice, you will be
required to sign an Information and Invention Agreement, as well as
acknowledgements for Company policies on Drugs and Alcohol in the Workplace,
Pre-employment Drug Testing, Sexual Harassment, Insider Trading Policy and
Business Conduct Policy, copies of which are enclosed.

Since the Company has certain government contracts, we are required to maintain
a drug free workplace. This employment offer is conditional upon your passing a
pre-employment medical examination, which includes testing for illegal drugs or
controlled substances. The Company pays the cost of the examinations. Please
contact Donna Cappadona at 781-622-1156 to arrange an appointment for the
medical examination.

Your employment status with Thermo Electron is "at will" which means that your
employment is not guaranteed for any definite time period and may be terminated
by you or by Thermo Electron at any time and for any reason with or without
cause or advance notice. This employment status may not be altered except by
written agreement signed by an Officer of Thermo Electron.

If your employment is terminated by the company for other than cause (as defined
below), you will be paid one year's salary and the market value for each share
of the restricted stock in this offer that is unvested. "Cause" in this instance
includes gross personal misconduct, insubordination, misappropriation of funds,
fraud, dishonesty, or any conduct which is in willful violation of any
applicable law or regulation pertaining to the business.

I look forward to having you join us and I am confident that you will be an
excellent addition to Thermo Electron. Please indicate your acceptance by
returning a signed copy of this letter to me as soon as possible.

If you have any questions, please do not hesitate to call me.

Very truly yours,

/s/ Richard F. Syron                              /s/ Guy Broadbent
___________________________               Agreed:___________________________
Richard F. Syron                                        Guy Broadbent
Chairman and CEO
                                                  October 13, 2000
                                          Date: ___________________________

cc. P. Northern, B WattsTo:         Richard F. Syron
From:       Frank Jungers, Chairman of the Human Resources Committee of the
            Thermo Electron Corporation Board of Directors

Date:       March 14, 2001
RE:         Amendment to the Amended & Restated Employment Agreement

      We hereby agree that your Amended & Restated Employment Agreement, dated
July 11, 2000 is amended, as provided for herein. Except as specifically
modified herein, the terms of your Amended & Restated Employment Agreement, and
all other agreements, exhibits and other instruments related thereto or to your
employment with Thermo Electron Corporation (including any of its successors or
assigns, the "Company") shall remain in full force and effect. This amendment to
your Amended & Restated Employment Agreement shall be referred to herein as the
"Amendment."

      Effective March 14, 2001 (the "Amendment Effective Date"), your Employment
Agreement is amended as follows:

      1. Restricted Stock and Stock Options. Section 6 of the Amended & Restated
Employment Agreement is amended by adding the following new subsection (f) to
the end thereof:

                  "(f) Additional Vesting Rules. Notwithstanding any provision
of this Agreement or any other agreement between Executive and the Company to
the contrary, the following additional vesting rules shall apply to stock option
and restricted stock awards granted to Executive by the Company:

                        (i)   if  Executive's   employment  with  the  Company
continues after July 10, 2003 but is terminated by Executive without Good Reason
prior to July 10, 2004:

                              (A)   the then  outstanding  unvested options to
purchase shares of Stock of the Company held by the Executive and granted after
the Amendment Effective Date, whether or not issued under this Agreement, shall
become fifty percent (50%) vested, and

                   (B) fifty percent (50%) of the outstanding unvested
restricted stock awards held by the Executive, whether or not issued under this
Agreement, shall be fully vested;

                        (ii)  if  Executive is employed by the Company on July
10, 2004:

                              (A)   all  outstanding  stock  options  (granted
after the Amendment Effective Date), shall become fully vested; and
<PAGE>

                              (B) all such options shall remain exercisable for
their entire exercise period and the rules set forth in Section 10 governing
post-termination exercise shall not apply, and

                              (C)   the   transfer    restrictions    on   all
restricted  stock  granted  to  Executive  under this  Agreement  or any other
agreement shall lapse."

      2. Executive Retention Award. Section 3 of the Amended & Restated
Employment Agreement is amended by adding the following subsection (g) to the
end thereof:

                  "(g) Executive Retention Benefit. Executive shall be entitled
to a retention benefit (the "Executive Retention Benefit"), with payments to
begin upon the termination of his employment from the Company for any reason, in
accordance with the following:

                        (i)   If the Designee is appointed CEO in accordance
with Section 3(b) and

                              (A)   Executive is removed involuntarily from
his position as Chairman of the Board on or before July 10, 2004, Executive
shall be entitled to an Executive Retention Benefit with a lump sum value, as
determined by the Board in its discretion, to be not less than Three Million Two
Hundred Thousand Dollars ($3.2M) and not more than Four Million Eight Hundred
Thousand Dollars ($4.8M), with a targeted mid-point of Four Million Dollars
($4M);

                              (B) Executive voluntarily resigns his
position as Chairman of the Board on or before July 10, 2004, Executive shall be
entitled to an Executive Retention Benefit with a lump sum value, as determined
by the Board in its discretion, to be not less than Eight Hundred Thousand
Dollars ($800,000) and not more than One Million Two Hundred Thousand Dollars
($1.2M), with a targeted mid-point of One Million Dollars ($1M);

                              (C) Executive resigns or is removed from his
position as Chairman of the Board after July 10, 2004 but before July 10, 2005,
Executive shall be entitled to an Executive Retention Benefit with a lump sum
value, as determined by the Board in its discretion, to be not less than Two
Million Four Hundred Thousand Dollars ($2.4M) and not more than Three Million
Six Hundred Thousand Dollars ($3.6M), with a targeted mid-point of Three Million
Dollars ($3M);

                              (D) Executive resigns or is removed from his
position as Chairman of the Board after July 10, 2005, Executive shall be
entitled to an Executive Retention Benefit with a lump sum value, as determined
by the Board in its discretion, to be not less than One Million Six Hundred
Thousand Dollars ($1.6M) and not more than Two Million Four Hundred Thousand
Dollars ($2.4M), with a targeted mid-point of Two Million Dollars ($2M);

                                       2
<PAGE>

                        (ii) The Board, in its discretion, shall determine
the amount of Executive Retention Benefit upon the occurrence of any of the
events described in (i)(A)-(D) next above, in accordance with the provisions set
forth in each such subsection.

                        (iii) Executive in his discretion shall elect the
form of payment for the Executive Retention Benefit, which shall be in whole or
in part either a lump sum distribution or an annuity purchased with such lump
sum value.

       The undersigned hereby represents that he is duly authorized to execute
this Amendment on behalf of the Company and that all necessary approvals of any
board, committee, body, or other person have been obtained. It is understood and
agreed that this Amendment to Executive's Amended & Restated Employment
Agreement shall constitute a binding agreement upon execution by both parties.
This Amendment is executed as an instrument under seal as of the date indicated
below.

                                             Thermo Electron Corporation

                                                  By: /s/ Frank Jungers
                                                  ---------------------------
                                                  Frank Jungers
                                                  Chairman of the Human
                                                  Resources Committee of the
                                                  Board of Directors

Agreed to and Accepted by:

/s/ Richard F. Syron
----------------------------
Richard F. Syron

Date:     March 14, 2001
          ----------------------

                                       3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]