Exhibit 99.3
Termination of Group Agreement
Each of the undersigned hereby terminates that certain Group Agreement, dated March 10, 2016, relating to Sparton Corporation to the extent the undersigned is a party thereto, effective immediately.
May 4, 2016
| | Engine Capital, L.P. |
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| | By: | Engine Investments, LLC, General Partner |
| | |
| | By: | /s/ Arnaud Ajdler |
| | | Name: | Arnaud Ajdler |
| | | Title: | Managing Member |
| | Engine Jet Capital, L.P. |
| | |
| | By: | Engine Investments, LLC, General Partner |
| | |
| | By: | /s/ Arnaud Ajdler |
| | | Name: | Arnaud Ajdler |
| | | Title: | Managing Member |
| | Engine Capital Management, LLC |
| | |
| | |
| | By: | /s/ Arnaud Ajdler |
| | | Name: | Arnaud Ajdler |
| | | Title: | Managing Member |
| | Engine Investments, LLC |
| | |
| | |
| | By: | /s/ Arnaud Ajdler |
| | | Name: | Arnaud Ajdler |
| | | Title: | Managing Member |
| | /s/ Arnaud Ajdler |
| | ARNAUD AJDLER |
| | Norwood Capital Partners, LP |
| | |
| | By: | Norwood Investment Partners, LP its General Partner |
| | |
| | By: | /s/ Charles H. Hoeveler |
| | | Name: | Charles H. Hoeveler |
| | | Title: | Managing Partner |
| | Norwood Investment Partners, LP |
| | |
| | By: | Norwood Investment Partners GP, LLC its General Partner |
| | |
| | By: | /s/ Charles H. Hoeveler |
| | | Name: | Charles H. Hoeveler |
| | | Title: | Managing Member |
| | Norwood Investment Partners GP, LLC |
| | |
| | |
| | By: | /s/ Charles H. Hoeveler |
| | | Name: | Charles H. Hoeveler |
| | | Title: | Managing Member |
| | /s/ Charles H. Hoeveler |
| | CHARLES H. HOEVELER |
