EX-10.51 6 tmok2005ex10_51.txt TMO 10-K 2005 EXHIBIT 10.51 (LETTER AGREEMENT/MARIJN DEKKERS DATED FEBRUARY 27, 2006) Exhbit 10.51 ------------ February 27, 2006 Marijn E. Dekkers President and CEO Thermo Electron Corporation 81 Wyman Street Waltham, MA 02454 Dear Marijn: This letter confirms our agreement as to the following: 1. That all references in your Amended & Restated Employment Agreement to the "Reference Bonus Amount" shall mean 100% of your then current salary. 2. That the stock option to purchase 450,000 shares of the Company's common stock, exercisable for a period of 7 years from the date of grant, being granted to you on February 27, 2006, shall be in lieu of the stock option to purchase 260,000 shares of the Company's common stock, exercisable for a period of 10 years from the date of grant, to which you are entitled pursuant to Section 6(c) of your Amended & Restated Employment Agreement. Very truly yours, /s/ Elaine S. Ullian ---------------------------- Elaine S. Ullian Chair Thermo Electron Corporation Compensation Committee ACCEPTED AND AGREED: By: /s/ Marijn E. Dekkers ---------------------------- Marijn E. Dekkers