July 12, 1999 Mr. Ray Jean 1815 N. Pond Lane Lake Forest, Ill. 60045 Dear Ray: This letter confirms that, as reflected in our Change of Control Agreement with you dated April 8, 1999 (the "Agreement"), and the letter dated May 14, 1999, relating to...Varlen Corp • August 4th, 1999 • Motor vehicle parts & accessories
This letter confirms that, as reflected in our Change of Control Agreement with you dated April 8, 1999 (the "Agreement"), and the letter dated May 14, 1999, relating to your participation in Varlen's SERP, (1) any benefits to which you are entitled under the SERP upon termination of your employment are not "change of control" payments subject to Section 280G of the Internal Revenue Code even if you cease employment subsequent to a change of control of Varlen, and (2) any benefits to which you are entitled under the SERP will not be offset from any payments that may be due to you pursuant to the Agreement following a change of control.
July 12, 1999 Mr. Richard A. Nunemaker 141 Cottage Hill Avenue Elmhurst, Ill. 60126 Dear Rick: This letter confirms that, as reflected in our Change of Control Agreement with you dated May 14, 1999 (the "Agreement"), and the letter of the same date...Varlen Corp • August 4th, 1999 • Motor vehicle parts & accessories
This letter confirms that, as reflected in our Change of Control Agreement with you dated May 14, 1999 (the "Agreement"), and the letter of the same date relating to your participation in Varlen's SERP, (1) any benefits to which you are entitled under the SERP upon termination of your employment are not "change of control" payments subject to Section 280G of the Internal Revenue Code even if you cease employment subsequent to a change of control of Varlen, and (2) any benefits to which you are entitled under the SERP will not be offset from any payments that may be due to you pursuant to the Agreement following a change of control.
