EXECUTIVE SEVERANCE AGREEMENTExecutive Severance Agreement • August 15th, 2007 • Planar Systems Inc • Electronic components, nec • Oregon
The Board of Directors of the Company considers the maintenance of sound and vital management to be essential to protecting and enhancing the best interests of the Company and its shareholders. In this connection, and in order to induce Executive to remain employed by the Company in the face of longer-term uncertainties including a potential change of control of the Company and the potential impact of such uncertainties on Executive’s position with the Company, this Agreement, which has been approved by the Company’s Board of Directors, sets forth the severance benefits that the Company will provide to Executive in the event Executive’s employment with the Company is terminated under the circumstances described in this Agreement.
