December 8, 2010 Mr. Drew A. Moyer Via Hand Delivery Dear Drew:Pulse Electronics Corp • December 14th, 2010 • Electronic components, nec • Pennsylvania
This letter amends and restates your Employment Agreement dated July 23, 2008 and serves as an agreement between you and Pulse Electronics Corporation (“Pulse”) regarding what constitutes a termination of your employment at Pulse and setting forth the rights and obligations of each of us upon the occurrence of such a termination. We intend that this letter constitutes a legal and binding agreement between us, and we acknowledge good and valuable consideration for our joint promises in this letter. The letter agreement dated July 31, 2010 regarding your service as Interim President and Interim Chief Executive Officer (“Interim Service Agreement”) remains in full force and is not affected by this letter. The Compensation Committee of the Board of Directors of Pulse (the “Board”) approved this Agreement at a meeting on December 8, 2010, and it shall have a term which expires on July 23, 2012.
December 8, 2010Pulse Electronics Corp • December 14th, 2010 • Electronic components, nec • Pennsylvania
This will confirm the agreement we have reached regarding certain financial aspects of your employment with Pulse Electronics Corporation:
