Exhibit 10.57

 

Irwin J. Gruverman

 

December 31, 2003

60 Seminary Ave

 

 

Auburndale, MA 02466

 

 

Dear Mr. Gruverman:

 

 

 

This will confirm our Agreement concerning your compensation as Chairman and CEO
of MFIC.

 

Subject to approval by the Board, we will pay you at a base rate of $97,000 per
year, beginning January 1, 2004. You will participate in a bonus pool, if any,
for management employees, and the Board will consider a Special Bonus if
financial results and stock performance warrant it.  You agree that MFIC will
withhold money from your compensation to pay appropriate taxes. You will be
included in MFIC’s insurance and medical programs as in past years, at standard
employee cost to you, as part of your compensation.

 

 

MFIC CORPORATION

 

 

 

 

 

 

 

 

 

Irwin Gruverman, CEO, Chairman

Irwin Gruverman, for myself

 

 

 

 

 

 

 

Robert Bruno, President

 

 

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{'dataset': 'atticus_contracts'}