0001193125-10-290891 Sample Contracts

December 30, 2010 Dear Shareholder:
Applied Signal Technology Inc • December 30th, 2010 • 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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