CHANGE IN CONTROL AGREEMENTChange in Control Agreement • April 25th, 2008 • Applied Industrial Technologies Inc • Wholesale-machinery, equipment & supplies
Applied Industrial Technologies, Inc. (the “Company”) considers it essential to the best interest of the Company and its shareholders that its management be encouraged to remain with the Company and to continue to devote full attention to the Company’s business. In this connection, the Company recognizes that the possibility of a change in control may exist and that such possibility, and the uncertainty and questions which it may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its shareholders. Accordingly, the Company’s Board of Directors (the “Board”) has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of key members of the Company’s management, including yourself, to their assigned duties without distraction in the face of the potentially disturbing circumstances arising from the possibility of a change in control of the Company.
