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| SMTL > SEC Filings for SMTL > Form 8-K on 31-Aug-2009 | All Recent SEC Filings |
31-Aug-2009
Entry into a Material Definitive Agreement, Termination of a Material Definitive Agr
On August 28, 2009, the Company entered into amendments to two aircraft leases reducing the rental amounts due under those leases. The Company negotiated the reductions in rental to reflect current market conditions. The owner of the aircraft and counterparty of each lease is a limited liability company controlled by Raymon F. Thompson, the Chairman and Chief Executive Officer of the Company.
The full texts of the amendments are attached hereto as Exhibits 10.21 and 10.22 and are incorporated herein by reference. The foregoing summary is qualified in its entirety to, and should be read in conjunction with, such exhibits.
On August 28, 2009, the Company entered into an agreement to terminate an aircraft lease with the owner of the aircraft, a limited liability company which is controlled by Raymon F. Thompson, the Chairman and Chief Executive Officer of the Company. The agreement to terminate the lease is based on current business conditions and the need for the aircraft. No penalties were incurred in connection with the termination.
The full texts of the amendment is attached hereto as Exhibits 10.23 and is incorporated herein by reference. The foregoing summary is qualified in its entirety to, and should be read in conjunction with, this exhibit.
(c) Exhibits:
Exhibit No. Description
Exhibit 10.21 Amendment No. 4 of Aircraft Lease Agreement, dated August
28, 2009, between Semitool, Inc. and Eagle I, LLC
Exhibit 10.22 Amendment No. 2 of Aircraft Lease Agreement, dated August
28, 2009, between Semitool, Inc. and Eagle II, LLC
Exhibit 10.23 Termination of Aircraft Lease Agreement, dated August 28,
2009, between Semitool, Inc. and Eagle II, LLC
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