Exhibit 10.1
EMPLOYMENT AGREEMENT
THIS AGREEMENT (the "Agreement"), made and entered into by and between Immucor,
Inc., a Georgia corporation with its executive offices at 3130 Gateway Drive,
Norcross, Georgia 30071 (herein referred to as "Employer" or the "Company"), and
Patrick D. Waddy (herein referred to as "Employee").
WITNESSETH
WHEREAS, Employee is currently the Chief Financial Officer of the Company, and
the parties hereto desire to enter into an agreement for Employee to be employed
by the Company in a different capacity on the terms and conditions hereinafter
stated, effective with the employment of a new Chief Financial Officer.
NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements herein contained, the parties hereby agree as follows:
1.
RELATIONSHIP ESTABLISHED
On the Effective Date Employer will employ Employee as its Vice President of
International Finance to perform the services and duties normally and
customarily associated with Employee's position including but not limited to
assisting the Company's Chief Financial Officer (the "CFO") in overseeing the
Company's financial reporting process, internal accounting systems, financial
controls, internal controls over financial reporting and the annual audit of the
Company's financial statements by the independent auditors, all as related to
the Company's operations outside the United States.
Employee will report
directly to the CFO and will perform such other duties as may from time to time
be reasonably assigned by the CFO or the Company's Chief Executive Officer.
Employee hereby agrees to perform such services and duties in such capacity.
2.
EXTENT OF SERVICES
(A)
EMPLOYEE SHALL BE REQUIRED TO WORK FOR THE
COMPANY 40 WEEKS A YEAR ON A SCHEDULE TO BE MUTUALLY DETERMINED BY THE COMPANY
AND EMPLOYEE.
DURING THOSE 40 WEEKS EMPLOYEE SHALL DEVOTE SUBSTANTIALLY ALL HIS
BUSINESS TIME, ATTENTION, SKILL AND EFFORTS TO THE PERFORMANCE OF HIS DUTIES
HEREUNDER, AND SHALL USE HIS BEST EFFORTS TO PROMOTE THE SUCCESS OF THE
COMPANY'S BUSINESS.
(B)
EMPLOYEE MAY BE REQUIRED TO WORK UP TO 18
WEEKS A YEAR OUTSIDE OF CANADA AS REQUIRED BY THE COMPANY.
EXCEPT FOR THAT TIME
SPENT OUT OF CANADA, EMPLOYEE WILL WORK IN HALIFAX, NS, CANADA, EITHER AT THE
COMPANY'S OFFICES OR FROM HOME, AS REASONABLY REQUIRED TO PERFORM HIS DUTIES
HEREUNDER.
3.
TERM OF EMPLOYMENT
Employee's employment hereunder shall commence on the effective date of the
employment of a new Chief Financial Officer to replace Employee (such date being
hereinafter called the "Effective Date") and shall continue for a period of one
(1) year after the Effective Date, unless sooner terminated by the first to
occur of the following:
(A)
THE DEATH OR COMPLETE DISABILITY OF
EMPLOYEE. "COMPLETE DISABILITY," AS USED HEREIN, SHALL MEAN THE INABILITY OF
EMPLOYEE, DUE TO ILLNESS, ACCIDENT OR ANY OTHER PHYSICAL OR
MENTAL INCAPACITY, TO PERFORM THE SERVICES PROVIDED FOR HEREUNDER FOR AN
EXTENDED PERIOD OF TIME AS REASONABLY DETERMINED BY THE COMPANY.
(B)
THE TERMINATION OF EMPLOYEE BY EMPLOYER FOR
CAUSE.
EMPLOYEE'S TERMINATION SHALL BE "FOR CAUSE" IF DUE TO ANY OF THE
FOLLOWING:
(I)
EMPLOYEE'S DISHONESTY,