Document:

shellymchadwick_materion

MATERION CORPORATION  6070 Parkland Boulevard, Mayfield Heights, OH 44124  p 216.486.4200   f 216.383.4005   www.materion.com  October 23, 2020  Shelly M. Chadwick  7566 Huntington Road  Hudson, Ohio 44236  Dear Shelly,  It is with great pleasure that I extend to you an offer of employment for the full-time position of Chief Financial  Officer, reporting directly to me and based at our Mayfield Heights, Ohio headquarters.  This offer assumes a  start date of December 1, 2020.     The terms of this offer are as follows:  • Base Pay: An annual base salary of $420,000, paid bi-weekly ($16,153.85). Base salaries are reviewed yearly.  Employees hired by April 30 are eligible for a merit increase, effective August 1 of the current year. • Annual Cash Incentive: Participation in the Management Incentive Plan at a target bonus of 70%. Employees hired on or before September 30 of the Plan Year are eligible for a prorated Plan award based on the number of months of participation.  Plan details are included in the attached Management Incentive Plan document. • Annual Long-Term Incentive Awards: Beginning in 2021, you will be eligible to receive equity awards under the Company’s long-term incentive plan in a total amount commensurate with your position and performance. The current target long-term incentive opportunity for your position is 140% of your annual base salary as of January 1st of the grant year. All awards are subject to approval by the Compensation Committee of the Board of Directors and any performance-based awards are also subject to the Company’s “claw back” policies. • Sign-on Bonus: Sign-on bonus of $144,500, payable with your first, regular pay period after 30 days of employment. You will be required to repay this bonus if you voluntarily terminate your employment without completing 12 months of active service. • Special Restricted Stock Unit Grant (RSUs): You will receive, within 60 days of your date of hire, a special RSU grant valued at $920,000 in grant date fair value, which shall vest as to one-fourth of the number of RSUs on each of the first four anniversaries of the Effective Date, subject to your continued service through such date and will be settled in stock. • Paid Time Off: You are eligible for 25 days of paid time off (20 vacation and 5 personal), in addition to 11 paid company holidays per year.  Details are included in the attached Benefit Highlights Summary. • Severance Agreements:  In 2021 you will receive both an Involuntary Severance agreement and Change in Control agreement.  Under the Involuntary Severance Agreement, you will be eligible to receive twelve months Base Pay plus annual Incentive Pay (MIP).  These agreements must be approved by the Board of Directors. Exhibit 10.12 

 

Shelly M. Chadwick  October 23, 2020  Page 2 of 2  • Benefits: Materion’s comprehensive benefits package includes; medical, dental and vision coverage, a Health Savings Account (HSA) option, life insurance, short and long-term disability, a Retirement Savings Plan that includes a 401(k) company match and an automatic annual company contribution, as well as several other voluntary benefits.  Details are included in the attached Benefit Highlights Summary. This offer of employment is contingent upon successful completion of a pre-employment background check,  health and drug screen. Upon written acceptance of this offer, you will be contacted by Human Resources to  schedule and complete your physical and drug screen.  Please be aware, in view of the emergent COVID19  pandemic, your physical and drug screen appointment may be delayed.    On your start date, you will be required to acknowledge that you have read and agree to abide by Materion’s  Confidentiality and Non-Compete Agreement, as well as our Code of Conduct Policy, both of which are  attached for your reference. You will also be required to comply with all other company policies during your  employment.  Also, on your first day, you will be required to complete an I-9 Employment Eligibility Verification Form as well  as supply originals of both the signed offer letter and Materion’s Confidentiality and Non-Compete Agreement.  While we anticipate a long-term working relationship, your employment with Materion Corporation is on an “at  will” basis and neither this offer letter, our compensation and benefit programs, nor our policies and procedures  are to be construed as an employment contract. This letter supersedes all prior negotiations, representations,  understandings and agreements, whether written and/or oral.  It is your obligation to conform to the Non-Compete and/or Confidentiality Agreements signed by your former  employer(s). If you accept this offer, we require that you do not bring any confidential information, trade secrets,  equipment, data and/or contact information from your former employer(s).  Shelly, I am excited by the prospect of having you join Materion’s executive team.  Please return a signed copy of  this letter to Cheryl Goodman at Cheryl.Goodman@materion.com to acknowledge your acceptance of this offer  and the mutually agreed upon start date.  Best Regards, Offer Accepted By:  Jugal Vijayvargia ______________________________________  Jugal Vijayvargia  Shelly M. Chadwick   Date  President & CEO  /s/ Shelly M. Chadwick October 24, 2020Exhibit 10.2

    

    
      

      

      THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).  THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT
        ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS
        NOT REQUIRED.

    

    

    

    
      PROMISSORY NOTE

      

      

    

    	
            Principal Amount:  Up to $300,000

          	
            Dated as of January 22, 2021

          
	 	
            New York, New York

          

    
      

      

    

    
      Software Acquisition Group Inc. III, a Delaware corporation and blank check company (the “Maker”), promises to
        pay to the order of Software Acquisition Holdings III LLC or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of up to
        Three Hundred Thousand Dollars ($300,000) in lawful money of the United States of America, on the terms and conditions described below.  All payments on this Note shall be made by check or wire transfer of immediately available funds or as
        otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

    

    

    

    1.          Principal.
        The principal balance of this Note shall be payable by the Maker on the earlier of: (i) May 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities. The principal balance may be prepaid at any time.
        Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

    

    

    2.          Interest.
        No interest shall accrue on the unpaid principal balance of this Note.

    

    

    3.          Drawdown
          Requests. Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably related to Maker’s initial public offering of its securities. The principal of this Note may be drawn down from
        time to time prior to the earlier of: (i) May 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities, upon written request from Maker to Payee (each, a “Drawdown Request”).
        Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than One Thousand Dollars ($1,000) unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than one (1) business day after
        receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000). No fees, payments or other amounts shall be due to Payee in connection with, or as a
        result of, any Drawdown Request by Maker.

    

    

    4.          Application
          of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late
        charges and finally to the reduction of the unpaid principal balance of this Note.

    

    

    5.          Events
          of Default. The following shall constitute an event of default (“Event of Default”):

    

    

    (a)          Failure to Make Required Payments. Failure by Maker
        to pay the principal amount due pursuant to this Note within five (5) business days of the date specified above.

    

    

    (b)          Voluntary Bankruptcy, Etc. The commencement by Maker
        of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
        sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the
        taking of corporate action by Maker in furtherance of any of the foregoing.

    

    

    
      

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    (c)          Involuntary Bankruptcy, Etc. The entry of a decree
        or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee,
        sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
        days.

    

    

    6.          Remedies.

    

    

    (a)          Upon the occurrence of an Event of Default specified in Section
          5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately due and payable
        without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

    

    

    (b)          Upon the occurrence of an Event of Default specified in Sections
          5(b) and 5(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

    

    

    7.          Waivers.
        Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings
        instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property,
        from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by
        virtue hereof or any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

    

    

    8.          Unconditional
          Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability
        of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications
        that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability
        hereunder.

    

    

    9.          Notices.
        All notices, statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or
        electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the
        electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of
        delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if
        sent by mail.

    

    

    10.          Construction.
        THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

    

    

    11.          Severability.
        Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
        and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

    

    

    12.          Trust
          Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust
        account (the “Trust Account”) to be established in which the proceeds of the initial public offering (the “IPO”) to be conducted by the Maker (including the deferred
        underwriters discounts and commissions) and certain of the proceeds of the sale of warrants to be issued in a private placement to occur in connection with the closing of the IPO are to be deposited, as described in greater detail in the
        registration statement and prospectus to be filed with the U.S. Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account
        for any reason whatsoever.

    
      

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    13.          Amendment;
          Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

    

    

    14.          Assignment. 
        No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
        required consent shall be void.

    

    

    
      [Signature page follows]

    

    
      

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    IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the
      undersigned as of the day and year first above written.

    

    

    	 	
            SOFTWARE ACQUISITION GROUP INC. III

          
	 	 	 
	 	
            By:

          	
            /s/ Jonathan S. Huberman

          
	 	
            Name:

          	
             Jonathan S. Huberman

          
	 	
            Title:

          	
            Chief Executive Officer

          

    

    

    [Signature Page to Promissory Note]

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