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EXHIBIT
10.23
Date:
To:
From: John J.
Millerick
NOTIFICATION OF STOCK
GRANT
You are hereby notified that on
the Board of Directors of Analogic Corporation (the
“Company”) voted to grant to you Amount
shares of the Company’s common stock (the
“Shares”) under the Key Employee Stock Bonus Plan dated
March 14, 1983, as amended (the
“Plan”).
In accordance with the terms of the
Plan, you are requested to sign the attached Non-Competition
Agreement, following which stock certificates representing the
Shares will be executed in your name. These certificates will be
held in escrow by the Company until such time as restrictions upon
your disposition of the Shares shall lapse. The restrictions, as to
the first 25% of the Shares, shall lapse on
. On the anniversary of
in each of the next three (3) years, the restrictions upon
your disposition as to another 25% of the Shares shall lapse. Each
time that the restrictions upon your disposition of any of the
Shares shall lapse, under present Internal Revenue Regulations,
certain federal and state income taxes will be due.
Attached hereto is the Plan Prospectus
(with the Plan itself attached as Exhibit A). The Plan sets forth
the terms and conditions of this Grant. By signing this document,
the recipient agrees to accept the Grant of the above mentioned
shares of Analogic Common Stock in accordance with all terms and
conditions of the Plan.
Page 2
Please sign each Notification of Stock
Grant and the Non-Competition Agreement, keep one copy of the
signed Notification of Stock Grant for your files, and return both
a signed Notification of Stock Grant and the Non-Competition
Agreement to:
John J. Millerick
Chief Financial Officer and
Treasurer
Analogic
Corporation
8 Centennial Drive
Peabody, MA 01960
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ANALOGIC CORPORATION |
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