AEROFLEX INCORPORATED
Exhibit
10.1
AEROFLEX
INCORPORATED
00
Xxxxx
Xxxxxxx Xxxx
Xxxxxxxxx,
Xxx Xxxx 00000
August
15,
2007
|
Re: Addendum
to March 2, 2007 Letter Agreement and May 25, 2007 Letter
Agreement
|
Dear
Xx.
Xxxx:
This
Letter Agreement is entered into,
effective as of the date hereof, between you and Aeroflex Incorporated
(“Aeroflex” or the “Company”). Reference is made to those certain
letter agreements between you and Aeroflex dated March 2, 2007 (the “March 2
Letter Agreement”) and May 25, 2007, each of which remains in full force and
effect. Capitalized terms used but not defined herein shall have the
meaning ascribed to such terms in the March 2 Letter Agreement.
For
purposes of determining the 2007
Bonus amount, the Company agrees that to the extent the Company's consolidated
pre-tax earnings for the fiscal year ended June 30, 2007 ("FY 2007") are reduced
by an accrual for the bonuses to be paid to employees located in the Plainview
office in respect of FY 2007, such accruals shall not be considered and shall
not reduce the Company's consolidated pre-tax earnings in computing your 2007
Bonus.
Please
indicate your agreement and
acceptance of the terms of this Letter Agreement by executing both copies in
the
space indicated and returning one copy to Aeroflex.
AEROFLEX INCORPORATED | ||||
|
By:
|
/s/ Xxxx Xxxxxxxxx, Xx. | ||
Name: | Xxxx Xxxxxxxxx, Xx. | |||
Title: | Senior Vice President and Chief Financial Officer | |||
ACCEPTED
AND AGREED TO:
/s/
Xxxxxx X. Xxxx
Xxxxxx
X.
Xxxx