Document:

Exhibit 10.6

 

ESPEY MFG. & ELECTRONICS CORP.

DIRECTOR CONTINGENT SEVERANCE COMPENSATION AGREEMENT

 

This AGREEMENT is dated as of March 2, 2018 by
and between ESPEY MFG. & ELECTRONICS CORP., a New York corporation (the “Corporation”) and the undersigned member
of the Corporation’s Board of Directors (the “Director”).

 

Recitals

WHEREAS, the Board of Directors of the Corporation
has adopted the Director Contingent Severance Compensation Program (the “Program”), attached hereto as Exhibit A, which
provides for certain contingent severance payment rights to the Director, as well as other individuals currently serving as non-executive
directors of the Corporation;

WHEREAS, the Program provides that it shall be
evidenced by individual agreements between each director eligible for contingent severance payments and the Corporation;

NOW, THEREFORE, in consideration of the foregoing
promises and covenants set forth herein, the parties agree as follows:

1.       Director
shall be a participant in the Program, as the same may be amended by the Board of Directors from time to time, and shall be entitled
to the contingent severance payments on the terms and conditions as set forth therein, provided that no amendment shall materially
reduce benefits or increase Director’s obligations without Director’s written consent.

2.       If
the Corporation breaches the terms and conditions of the Program, this Agreement shall be specifically enforceable by Director,
who shall also be entitled to the recovery of reasonable attorneys’ fees and the other costs of enforcement.

3.       This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs
and beneficiaries.

4.       This
Agreement supersedes the Retired Director Compensation Program and Mandatory Retirement Agreement between Director and the Corporation
dated as of May 10, 2011.

 

[signatures appear on the next page]

    6 

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the date first above written.

	 	ESPEY MFG. & ELECTRONICS CORP.
	 	 	 	 
	 	By:	/s/  Patrick T. Enright, Jr.
	 	 	Name:	Patrick T. Enright, Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	DIRECTOR
	 	 	 	 
	 	/s/ Paul J. Corr

 

 

    7Exhibit 10.7

 

ESPEY MFG. & ELECTRONICS CORP.

DIRECTOR CONTINGENT SEVERANCE COMPENSATION AGREEMENT

 

This AGREEMENT is dated as of March 2, 2018 by
and between ESPEY MFG. & ELECTRONICS CORP., a New York corporation (the “Corporation”) and the undersigned member
of the Corporation’s Board of Directors (the “Director”).

 

Recitals

WHEREAS, the Board of Directors of the Corporation
has adopted the Director Contingent Severance Compensation Program (the “Program”), attached hereto as Exhibit A, which
provides for certain contingent severance payment rights to the Director, as well as other individuals currently serving as non-executive
directors of the Corporation;

WHEREAS, the Program provides that it shall be
evidenced by individual agreements between each director eligible for contingent severance payments and the Corporation;

NOW, THEREFORE, in consideration of the foregoing
promises and covenants set forth herein, the parties agree as follows:

1.       Director
shall be a participant in the Program, as the same may be amended by the Board of Directors from time to time, and shall be entitled
to the contingent severance payments on the terms and conditions as set forth therein, provided that no amendment shall materially
reduce benefits or increase Director’s obligations without Director’s written consent.

2.       If
the Corporation breaches the terms and conditions of the Program, this Agreement shall be specifically enforceable by Director,
who shall also be entitled to the recovery of reasonable attorneys’ fees and the other costs of enforcement.

3.       This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs
and beneficiaries.

4.       This
Agreement supersedes the Retired Director Compensation Program and Mandatory Retirement Agreement between Director and the Corporation
dated as of May 10, 2011.

 

[signatures appear on the next page]

    8 

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the date first above written.

	 	ESPEY MFG. & ELECTRONICS CORP.
	 	 	 	 
	 	By:	/s/ Patrick T. Enright, Jr.
	 	 	Name:	Patrick T. Enright, Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	DIRECTOR
	 	 	 	 
	 	/s/ Carl Helmetag
	 	Carl Helmetag

 

    9Exhibit 10.9

 

ESPEY MFG. & ELECTRONICS CORP.

DIRECTOR CONTINGENT SEVERANCE COMPENSATION AGREEMENT

This AGREEMENT is dated as of March 2, 2018 by
and between ESPEY MFG. & ELECTRONICS CORP., a New York corporation (the “Corporation”) and the undersigned member
of the Corporation’s Board of Directors (the “Director”).

 

Recitals

WHEREAS, the Board of Directors of the Corporation
has adopted the Director Contingent Severance Compensation Program (the “Program”), attached hereto as Exhibit A, which
provides for certain contingent severance payment rights to the Director, as well as other individuals currently serving as non-executive
directors of the Corporation;

WHEREAS, the Program provides that it shall be
evidenced by individual agreements between each director eligible for contingent severance payments and the Corporation;

NOW, THEREFORE, in consideration of the foregoing
promises and covenants set forth herein, the parties agree as follows:

1.       Director
shall be a participant in the Program, as the same may be amended by the Board of Directors from time to time, and shall be entitled
to the contingent severance payments on the terms and conditions as set forth therein, provided that no amendment shall materially
reduce benefits or increase Director’s obligations without Director’s written consent.

2.       If
the Corporation breaches the terms and conditions of the Program, this Agreement shall be specifically enforceable by Director,
who shall also be entitled to the recovery of reasonable attorneys’ fees and the other costs of enforcement.

3.       This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs
and beneficiaries.

4.       This
Agreement supersedes the Retired Director Compensation Program and Mandatory Retirement Agreement between Director and the Corporation
dated as of May 10, 2011.

 

[signatures appear on the next page]

    10 

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the date first above written.

	 	ESPEY MFG. & ELECTRONICS CORP.
	 	 	 	 
	 	By:	/s/ Patrick T. Enright, Jr.
	 	 	Name:	Patrick T. Enright, Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	DIRECTOR
	 	 	 	 
	 	/s/ Howard Pinsley
	 	Howard Pinsley

 

    11Exhibit 10.10

 

ESPEY MFG. & ELECTRONICS CORP.

DIRECTOR CONTINGENT SEVERANCE COMPENSATION AGREEMENT

 

This AGREEMENT is dated as of March 2, 2018 by
and between ESPEY MFG. & ELECTRONICS CORP., a New York corporation (the “Corporation”) and the undersigned member
of the Corporation’s Board of Directors (the “Director”).

 

Recitals

WHEREAS, the Board of Directors of the Corporation
has adopted the Director Contingent Severance Compensation Program (the “Program”), attached hereto as Exhibit A, which
provides for certain contingent severance payment rights to the Director, as well as other individuals currently serving as non-executive
directors of the Corporation;

WHEREAS, the Program provides that it shall be
evidenced by individual agreements between each director eligible for contingent severance payments and the Corporation;

NOW, THEREFORE, in consideration of the foregoing
promises and covenants set forth herein, the parties agree as follows:

1.       Director
shall be a participant in the Program, as the same may be amended by the Board of Directors from time to time, and shall be entitled
to the contingent severance payments on the terms and conditions as set forth therein, provided that no amendment shall materially
reduce benefits or increase Director’s obligations without Director’s written consent.

2.       If
the Corporation breaches the terms and conditions of the Program, this Agreement shall be specifically enforceable by Director,
who shall also be entitled to the recovery of reasonable attorneys’ fees and the other costs of enforcement.

3.       This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs
and beneficiaries.

4.       This
Agreement supersedes the Retired Director Compensation Program and Mandatory Retirement Agreement between Director and the Corporation
dated as of May 10, 2011.

 

[signatures appear on the next page]

    12 

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the date first above written.

	 	ESPEY MFG. & ELECTRONICS CORP.
	 	 	 	 
	 	By:	/s/ Patrick T. Enright, Jr.
	 	 	Name:	Patrick T. Enright, Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	DIRECTOR
	 	 	 	 
	 	/s/ Alvin O. Sabo
	 	Alvin O. Sabo

 

 

    13Exhibit 10.11

 

ESPEY MFG. & ELECTRONICS CORP.

DIRECTOR CONTINGENT SEVERANCE COMPENSATION AGREEMENT

 

This AGREEMENT is dated as of March 2, 2018 by
and between ESPEY MFG. & ELECTRONICS CORP., a New York corporation (the “Corporation”) and the undersigned member
of the Corporation’s Board of Directors (the “Director”).

 

Recitals

WHEREAS, the Board of Directors of the Corporation
has adopted the Director Contingent Severance Compensation Program (the “Program”), attached hereto as Exhibit A, which
provides for certain contingent severance payment rights to the Director, as well as other individuals currently serving as non-executive
directors of the Corporation;

WHEREAS, the Program provides that it shall be
evidenced by individual agreements between each director eligible for contingent severance payments and the Corporation;

NOW, THEREFORE, in consideration of the foregoing
promises and covenants set forth herein, the parties agree as follows:

1.       Director
shall be a participant in the Program, as the same may be amended by the Board of Directors from time to time, and shall be entitled
to the contingent severance payments on the terms and conditions as set forth therein, provided that no amendment shall materially
reduce benefits or increase Director’s obligations without Director’s written consent.

2.       If
the Corporation breaches the terms and conditions of the Program, this Agreement shall be specifically enforceable by Director,
who shall also be entitled to the recovery of reasonable attorneys’ fees and the other costs of enforcement.

3.       This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns, heirs
and beneficiaries.

4.       This
Agreement supersedes the Retired Director Compensation Program and Mandatory Retirement Agreement between Director and the Corporation
dated as of May 10, 2011.

 

[signatures appear on the next page]

    14 

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the date first above written.

	 	ESPEY MFG. & ELECTRONICS CORP.
	 	 	 	 
	 	By:	/s/ Patrick T. Enright, Jr.
	 	 	Name:	Patrick T. Enright, Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	DIRECTOR
	 	 	 	 
	 	/s/ Michael Wool
	 	Michael Wool

 

 

    15

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