Exhibit 10(A)(3)
Servotronics, Inc. and Subsidiaries
As of May 1, 2001
Xx. Xxxxxxxx X. Xxxxxxxx
0000 Xxxxx Xxxxxx
Xxxx, XX 00000
Dear Xx. Xxxxxxxx:
You and Servotronics, Inc. (the "Company") are parties to an employment
agreement, as amended and restated on August 8, 1986 and as subsequently amended
as of October 1, 1986, October 1, 1987, July 20, 1988, October 1, 1988, October
1, 1989, May 1, 1990, May 1, 1991, May 1, 1992, May 1, 1993, March 28, 1994, May
1, 1994, May 1, 1995, May 1, 1996, May 1, 1997, March 9, 1998, May 1, 1998,
October 6, 1998, April 28, 1999, May 1, 1999, May 1, 2000, and July 3, 2001 (the
"Agreement"), pursuant to which you are employed by the Company.
This will confirm your agreement and that of the Company (pursuant to a
resolution of the Board of Directors passed at a meeting held on July 3, 2001)
to amend Paragraph 3 of the Agreement to delete "$331,500.00" and insert in its
place "$341,445.00".
Except as specifically provided herein, all of the other terms and conditions of
the Agreement shall remain in full force and effect.
If the foregoing meets with your approval and you are willing to become bound
hereby, will you please sign and return to the undersigned the enclosed copy of
this letter.
Very truly yours,
SERVOTRONICS, INC.
/S/Xxx X. Xxxxx
Xxx X. Xxxxx,
Treasurer/Secretary
ACCEPTED AND AGREED
/S/ Xx. Xxxxxxxx X. Xxxxxxxx
----------------------------
Xx. Xxxxxxxx X. Xxxxxxxx
