Sequa Corporation
As of February 23, 1995
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
000-000-0000
000-000-0000 (fax)
Xx. Xxxxxx Xxxxxxxxx
000 Xxxxxxxxx Xxxxx
Xxx Xxxxxxx, Xxxxx 00000
Dear Xxxxx:
Reference is made to your Employment Agreement with Chromalloy Gas Turbine
Corporation, dated as of October 1, 1991 (the "Employment Agreement"). The
Employment Agreement is hereby amended as follows:
Paragraph "2(b)" of the Employment Agreement is hereby amended as
follows:
"(b) Based upon your performance and at the sole discretion of the
Board, you will also e entitled to receive an annual incentive
bonus (calculated within the range payable to corporate
officers of the Company during that year) in accordance with
the then current provisions of the Sequa Management Incentive
Bonus Plan, for any year that the Company determines it
appropriate to pay incentive bonuses to corporate officers
generally."
Except as specifically set forth above, all other terms and conditions of the
Employment Agreement shall remain unchanged and in full force and effect.
Please acknowledge your agreement with all of the foregoing by signing and
returning to the undersigned the enclosed duplicate of this letter. Upon our
receipt of such fully executed copy, this shall become a binding agreement
between us.
Very truly yours,
SEQUA CORPORATION
(Ultimate parent corporation of
CHROMALLOY GAS TURBINE CORPORATION
BY:_______________________________
Xxxxxx X. Xxxxxxxxx, Chairman
ACCEPTED AND AGREED TO:
_________________________
Dated:___________________
