May 19, 2017 Via Hand Delivery to Benjamin T. Rashleger Dear Benji:Release Agreement • May 22nd, 2017 • Wsi Industries, Inc. • Metalworkg machinery & equipment • Minnesota
This letter (“Agreement”) describes our agreement regarding the separation of your employment with WSI Industries, Inc. (“WSI Industries” or the “Company”), effective May 19, 2017 and to specify the terms of the general release you are obligated to provide pursuant to Section 1(c) of the severance letter agreement between you and the Company dated October 20, 2011 (the “Severance Letter Agreement”).
WSI Industries, Inc. Monticello, MN 55362Letter Agreement • May 22nd, 2017 • Wsi Industries, Inc. • Metalworkg machinery & equipment • Minnesota
The purpose of this letter agreement (the “Letter Agreement”) is to set forth the agreement between you and WSI Industries, Inc. (“WSI”) in regard to severance and change of control matters. Although your employment is “at will” and may be terminated by you or WSI at any time for any reason, WSI has agreed to provide you with the benefit set for in this Letter Agreement. Terms not otherwise defined in this Letter Agreement shall have the meaning given such terms on Schedule 1, which is incorporated herein by reference.
