This AGREEMENT is made this 27th day of July 1999, by and between Napco Security Systems, Inc. and/or
its related subsidiaries and/or affiliates (herein referred to collectively as "NAPCO"), a Delaware corporation
having its principle place of business at 333 Bayview Avenue, Amityville, New York 11701 and Michael Carrieri
(hereinafter "EXECUTIVE") residing at .
WHEREAS, NAPCO desires to employ EXECUTIVE as Vice President of Engineering Development and
EXECUTIVE desires to be employed by NAPCO.
Subject to the terms and conditions hereinafter set forth, NAPCO hereby employs EXECUTIVE and
EXECUTIVE agrees to be employed by NAPCO as its Vice President of Engineering Development.
EXECUTIVE agrees to devote his full time and best efforts to the business of NAPCO.
EXECUTIVE shall, during the continuance of his employment hereunder:
(a) Devote the whole of his time and attention and abilities to the business of NAPCO during regular working
hours and at such other times as may be necessary;
(b) Perform such duties as are usually performed by an EXECUTIVE serving in his capacity and such other
duties as may be assigned to him from time to time by the Chairman of NAPCO;
(c) Use his best efforts to promote the business of NAPCO; and
(d) Perform his duties subject to the direction of the Chairman of NAPCO.
For the services to be rendered under this AGREEMENT, NAPCO agrees to pay the EXECUTIVE the
(a) SALARY - An annual salary of $150,000.00 subject to annual reviews and compensation adjustments
hereinafter on the anniversary date of the commencement of employment. Upon being promoted to Senior Vice
President of Engineering Development (anticipated to occur approximately May 2000 depending on
performance), EXECUTIVE's annual salary will be increased to $160,000.00. The annual salary will be paid
periodically in accordance with NAPCO's standard payroll practices, which is p