May 12, 2005
Xx. Xxxxx Xxxxx
Marlton Technologies, Inc.
0000 Xxxxxxx Xxxx
Xxxxxxxxxxxx, XX 00000
Re: Employment Agreement dated November 20, 2001
Dear Xxxxx:
Confirming the actions of the Compensation Committee of the Board of
Directors of Marlton Technologies, Inc. ("Company"):
Effective January 1, 2005, your annual base salary was increased to
$250,000.
As described in Note 7 of the Item 11 Summary Compensation Table included
in the Company's Form 10-K/A for the fiscal year ended December 31, 2004, you
have waived (i) your rights to the salary reductions described in Notes 2, 3 and
6 of such Table, and (ii) except as contemplated by Note 4 to such Table, your
entitlement pursuant to your Employment Agreement to parity with Xxxxxxx Xxxxxx
and Xxxxxx X. Xxxxxxxx in salary and bonus for all periods through December 31,
2004.
The Company shall provide you with reimbursement of life and disability
insurance premiums of up to $9,500 per year.
The provisions of your Employment Agreement relating to the above subject
matter are superseded by this amendment; otherwise the Employment Agreement
shall remain in full force and effect in accordance with its terms and shall
constitute the legal, valid and binding agreement of the Company.
---------------------------------
Xxxxxxx Xxxxx
Chairman of Compensation Committee
Agreed this _____ day of May, 2005.
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Xxxxx Xxxxx
