CHYRON CORPORATION Melville, New York 11747Chyron Corp • November 20th, 2012 • Photographic equipment & supplies • New York
The following sets out our agreement to amend (the “Amendment”) your Terms of Severance Agreement dated November 19, 2012 (the “Agreement”) with Chyron Corporation (the “Company”) with respect to severance payments to be paid to you if your termination of employment is “related to” a “Change-in-Control” and is either: (i) without “Cause,” or (ii) a “Resignation with Good Reason” (collectively, a “Severance Event”) (all as defined below). This Amendment replaces all severance benefits payable to you as a result of a Change-in-Control as previously set forth in the Agreement or in any executive retention program maintained by the Company as of the date hereof. This Amendment shall not affect any other severance benefits set forth in your Agreement. This Amendment restates in its entirety the Amendment dated October 26, 2007 between you and the Company (the “Prior Amendment”) and the Prior Amendment shall have no further force and effect.
ContractChange in Control Agreement • November 20th, 2012 • Chyron Corp • Photographic equipment & supplies • New York
THIS CHANGE IN CONTROL AGREEMENT (“CIC Agreement”) is being entered into on November 19, 2012 by and between MICHAEL WELLESLEY-WESLEY (“MWW”), an individual residing at 420 East 54th Street, Apt. 29C, New York, New York 10022, and CHYRON CORPORATION, a New York corporation (the “Company”) with its principal office located at 5 Hub Drive, Melville, New York, New York 11747.
CHYRON CORPORATIONChyron Corp • November 20th, 2012 • Photographic equipment & supplies • New York
This shall confirm your agreement (the “Agreement”) with Chyron Corporation (the “Company”) with respect to severance to be paid to you in the event you are terminated without Cause (as defined below). You and the Company entered into a Terms of Severance Agreement, dated October 26, 2007, and the parties wish to enter into this Agreement as the successor Terms of Severance Agreement between the parties. The Executive Retention Program Grant Letter, dated September 23, 2002 is hereby terminated. All other terms of your employment, including any bonuses to be paid under the Executive Bonus Plan and hereunder, and the Change-in-Control Agreement dated November 19, 2012, shall remain in full force and effect.
