0001193125-10-290891 Sample Contracts

December 30, 2010 Dear Shareholder:
Merger Agreement • December 30th, 2010 • Applied Signal Technology Inc • Communications equipment, nec

We are pleased to inform you that on December 18, 2010, Applied Signal Technology, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Raytheon Company, a Delaware corporation (“Parent”), and RN Acquisition Company, a California corporation and a wholly owned subsidiary of Parent (“Purchaser”).

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