Exhibit 10.23
ELECTROMAGNETIC SCIENCES, INC.
1992 STOCK INCENTIVE PLAN
AMENDMENT TO RESTRICTED STOCK AWARD
RESTRICTION AGREEMENT
DATED JANUARY 27, 1995
This Amendment is to the Restricted Stock Award Restriction
Agreement, dated January 27, 1995 (the "Agreement"), between
Electromagnetic Sciences, Inc. (the "Company"), and the
undersigned employee, and is authorized effective April 21, 1995,
by action taken on that date by the Committee identified in the
Agreement.
Section 7 of the Agreement is hereby amended by adding an
additional paragraph as follows:
Notwithstanding the foregoing, at your election the
foregoing withholding taxes, together with additional amounts
not exceeding the actual additional taxes to be owed by you
with respect to income resulting from such lapse or other
taxable event, may be paid by you by tendering to the Company
whole shares of the Company's common stock owned by you and
duly endorsed for transfer, or by authorizing the Company to
withhold and cancel a portion of the Shares otherwise
deliverable to you, in either case in that number of shares
having a Fair Market Value (as defined in the Company's 1992
Stock Incentive Plan) on the date that taxable income is
recognized equal to the amount of such taxes thereby being
paid. Such election shall be made on or before such date,
shall be irrevocable, and shall be submitted in writing to
the Treasurer of the Company.
IN WITNESS WHEREOF, the Company, acting through the
Committee, has caused this amendment to be duly executed and you
have hereunto set your hand and seal, all as of April 21, 1995
ELECTROMAGNETIC SCIENCES, INC.
By:
Xxxxxx X. Xxxxxx, President and CEO
Accepted and agreed:
Typed or printed name
ELECTROMAGNETIC SCIENCES, INC.
AMENDMENT TO
RESTRICTED STOCK AWARD
RESTRICTION AGREEMENT
The Restricted Stock Award Restriction Agreement between
Electromagnetic Sciences, Inc. and the undersigned Employee,
dated January 27, 1995 (the "Agreement"), is hereby amended by
modifying clause (a) of Section 3 to specify February 9, 1996 as
the date on which the restrictions specified in the Agreement
shall lapse and have no further force or effect.
IN WITNESS WHEREOF, the Employee has executed this Amendment
and Electromagnetic Sciences, Inc., acting through the Committee
identified in the Agreement, has caused this Amendment to be duly
executed, all as of January 26, 1996.
ELECTROMAGNETIC SCIENCES, INC.
_______________________ By _________________________
Xxxxxx X. Xxxxxx
______________________ President and Chief Executive
Typed or printed name Officer
