EXHIBIT 10.3 May 7, 1996 Mr. Robert J. Siewert 3233 Deerpath Way Sidney, OH 45365 Dear Bob: This letter confirms that you ceased to be President, Chief Executive Officer and a Director of The Monarch Machine Tool Company (the "Company") effective at...Severance Agreement • March 31st, 1997 • Monarch Machine Tool Co • Metalworkg machinery & equipment • Ohio
1 EXHIBIT 10.2 February 13, 1997 Richard E. Clemens 3288 Muirfield Drive Chambersburg, PA 17201 Dear Rick: The Board of Directors of The Monarch Machine Tool Company (the "Company") is pleased to offer you the position as President and Chief Executive...Employment Agreement • March 31st, 1997 • Monarch Machine Tool Co • Metalworkg machinery & equipment
