Exhibit 99
AMENDMENT TO EMPLOYMENT AGREEMENT
AGREEMENT made as of the 24th day of October, 2007 by and between THE
EASTERN COMPANY, a corporation organized under the laws of the State of
Connecticut (the "Company"), and XXXXXXX X. XXXXXXX, of 00 Xxxxxx Xxxxxxx Xxxx,
Xxxxxxxxxx, Xxxxxxxxxxx (the "Executive").
W I T N E S S E T H:
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WHEREAS, as of January 1, 2005 the Company entered into an employment
agreement with the Executive (the "Agreement") pursuant to which the Executive
serves as the president and chief executive officer of the Company; and
WHEREAS, the term of the Agreement continues until December 31, 2007; and
WHEREAS, the Agreement provides that the Company may, in its discretion,
elect to renew the Agreement for one or more additional one-year periods by
giving written notice to the Executive at least thirty days prior to the end of
the term; and
WHEREAS, the Company wishes to extend the term of the Agreement for a one
year period until December 31, 2008.
NOW, THEREFORE, the Company and the Executive do hereby agree as follows:
(1) Section 4 of the Agreement is deleted and the following is substituted
in lieu thereof:
Section 4. Term.
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The initial term of this Agreement began as of January 1, 2005 and shall
end as of December 31, 2007. The term of this Agreement is extended for an
additional one year period, and shall continue until December 31, 2008.
The Company may, in its discretion, elect to renew this Agreement for one
or more additional one-year periods by giving written notice to the Executive at
least thirty (30) days prior to the end of any renewal period.
(2) All of the other terms and conditions of the Agreement are hereby
confirmed, ratified and approved in all respects.
IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
and its corporate seal to be hereunto affixed, and the Executive has hereunto
set the Executive's hand and seal, as of the day and year specified above.
ATTEST: THE EASTERN COMPANY
/s/Xxxxxxx X. Xxxx By/s/Xxxx X. Xxxxxxxx III
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Xxxxxxx X. Xxxx Xxxx X. Xxxxxxxx III
Its: Secretary Title: Vice President & CFO
EXECUTIVE
/s/Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Chairman, President and CEO
