CHYRON CORPORATION Melville, New York 11747Change-in-Control Agreement • October 31st, 2007 • Chyron Corp • Photographic equipment & supplies • New York
The following sets out our agreement to amend (the "Amendment") your Terms of Severance Agreement dated October 26, 2007 (the "Agreement") with Chyron Corporation (the "Company") with respect to severance payments to be paid to you if your termination of employment is "related to" a "Change-in-Control" and is either: (i) without "Cause," or (ii) a "Resignation with Good Reason" (collectively, a "Severance Event") (all as defined below). This Amendment replaces all severance benefits payable to you as a result of a Change-in-Control as previously set forth in the Agreement or in any executive retention program maintained by the Company as of the date hereof. This Amendment shall not affect any other severance benefits set forth in your Agreement.
CHYRON CORPORATIONSeverance Agreement • October 31st, 2007 • Chyron Corp • Photographic equipment & supplies
This shall confirm your agreement (the "Agreement") with Chyron Corporation (the "Company") with respect to severance to be paid to you in the event you are terminated without Cause (as defined below). You and the Company entered into a Terms of Severance Agreement, dated May 2, 2003, and the parties wish to enter into this Agreement as the successor Terms of Severance Agreement between the parties. The Executive Retention Program Grant Letter, dated September 23, 2002 is hereby terminated. All other terms of your employment, including any bonuses to be paid under the Executive Bonus Plan and hereunder, and the Change-in-Control Agreement dated October 26, 2007, shall remain in full force and effect.
EMPLOYMENT AGREEMENTEmployment Agreement • October 31st, 2007 • Chyron Corp • Photographic equipment & supplies • New York
THIS AGREEMENT (the "Agreement") is being made as of October 26, 2007, effective retroactive to October 1, 2007 by and between CHYRON CORPORATION, a New York corporation (the "Company"), having its principal offices at 5 Hub Drive, Melville, New York 11747, and MICHAEL WELLESLEY-WESLEY ("MWW") having an address at 145 East 81st St., Apt. 11A, New York, N.Y. 10028.
