SEVERANCE PROTECTION AGREEMENTSeverance Protection Agreement • February 24th, 2005 • Axsys Technologies Inc • Optical instruments & lenses • Delaware
WHEREAS, the Board of Directors of the Company (the “Board”) recognizes that the possibility of a Change in Control (as hereinafter defined) exists and that the threat or the occurrence of a Change in Control can result in significant distraction of the Company’s key management personnel because of the uncertainties inherent in such a situation;
November 11, 2004 Mr. Stephen W. BershadAxsys Technologies Inc • February 24th, 2005 • Optical instruments & lenses
