AMENDMENT TO SEVERANCE PAY AGREEMENTSeverance Pay Agreement • March 15th, 2012 • Cyberoptics Corp • Optical instruments & lenses
WHEREAS, CyberOptics Corporation, a Minnesota Corporation (the “Company”) and Kathleen P. Iverson (“Executive”) have previously entered into a Severance Pay Agreement dated May 19, 2008 (the “Agreement”); and
CLARIFICATION AGREEMENTClarification Agreement • March 15th, 2012 • Cyberoptics Corp • Optical instruments & lenses
CyberOptics Corporation, a Minnesota Corporation (the “Company”) and Daniel Good (“Executive”) have previously entered into a Severance Pay Agreement dated May 1, 2010 (the “Agreement”) and wish to clarify the definition of “termination of employment” for all purposes of such agreement. Accordingly, the Company and Executive agree that, for all purposes of the Agreement, “termination” or “termination of employment” shall mean a “separation from service” as that term is defined in Section 409A of the internal revenue Code of 1986, as amended, and the regulations thereunder.
CLARIFICATION AGREEMENTClarification Agreement • March 15th, 2012 • Cyberoptics Corp • Optical instruments & lenses
CyberOptics Corporation, a Minnesota Corporation (the “Company”) and Jeffrey Bertelsen (“Executive”) have previously entered into a Severance Pay Agreement dated May 19, 2008, as amended (the “Agreement”) and wish to clarify the definition of “termination of employment” for all purposes of such agreement. Accordingly, the Company and Executive agree that, for all purposes of the Agreement, “termination” or “termination of employment” shall mean a “separation from service” as that term is defined in Code Section 409A and the regulations thereunder.
