SEVERANCE COMPENSATION AGREEMENT
This SEVERANCE COMPENSATION AGREEMENT (�Agreement�) is effective as of January 1, 2004, between NEWPORT CORPORATION, a Nevada corporation (the �Company�), and Robert J. Phillippy (the �Executive�).
WHEREAS, the Company�s Board of Directors has determined that it is appropriate to reinforce and encourage the continued attention and dedication of members of the Company�s management, including the Executive, to their assigned duties without distraction in potentially disturbing circumstances arising from the possibility of a change in . . .
1173831