Exhibit 4.10
UNILENS CORP., USA
Memo
To: Xxxx Xxxxxx
From: Xx Xxxxxx
Date: March 1,1999
Re: Compensation and Severance Agreement
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This will confirm our agreement regarding your future compensation as CFO for
Unilens Corp., USA (The Company) as well as outlining the conditions for
severance compensation. It is my understanding that you will be declining your
present opportunity to join a local company.
Your present salary of $50,000 per annum will be adjusted as follows:
January 1,2000 - Increased to $56,000 per annum
July 1,2000 - Increased to $60,000 per annum
January 1,2001 - Increased to $65,000 per annum
July 1,2001 - Increased to $70,000 per annum
In addition, the Company agrees to pay you 6 months severance upon your
resignation or termination from the Company effective upon the earlier of March
1, 2002 or a change in control of the ownership of Unilens vision Inc, Unilens
Corp., USA or a significant change in the management of the Company. Severance
will be calculated at the rate of the previous six (6) months total compensation
and will be payable within 10 days of the triggering event.
Xxxx, I hope this will secure your services for the years to come. Thank you for
your dedication and loyalty to the company.
Sincerely,
/s/ Xx Xxxxxx
Xx Xxxxxx, President Unilens Vision Inc, Unilens Corp., USA
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[LOGO OF Unilens]
CORP., USA
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Unilens Corp., USA
00000 00xx Xxxxxx Xxxxx
Xxxxx, Xxxxxxx 00000
727.544.2531
800.446.2020
Fax: 000.000.0000
Memo
To: Xxxx Xxxxxx
From: Xx Xxxxxx
Date: July 10, 2003
Re: Compensation and Severance Agreement
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Let this communication serve as an amendment to my memorandum to you dated March
1, 1999 regarding the "Compensation and Severance Agreement".
The passage of time along with your outstanding contributions to our success has
earned for you a revised severance pay-out from 6 months to 9 months under the
same terms and conditions as set forth in your original (3/1/99) agreement.
I am pleased to extend this additional security benefit to you while again
thanking you for your loyalty and dedication to the ongoing success of Unilens.
Sincerely,
/s/ Xx Xxxxxx
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Xx Xxxxxx, President Unilens Vision Inc, Unilens Corp., USA
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