Document:

ex4_3.htm

    
      

    

    
      	
              EXHIBIT
      4.3

            	
              SETTLEMENT
      AGREEMENT

            	 

    

    

    This Settlement Agreement
(“Agreement”) is made and dated as of the <> day of <>, between
Aurora Gold Corp., a Delaware corporation having an address at Baarerstrasse 10,
1st
Floor, 6300, Zug, Switzerland (“Aurora”), and <> an individual and or
company residing <> (“<>”)

    

    WHEREAS, <> has claimed
that it is due and owed $<> for services rendered;

    

    WHEREAS, the parties are
desirous of compromising and settling their disputes and to avoid further
expense and terminate all controversy and disputes having arising between the
parties from their business dealings and transactions in connection with the
Consulting Agreement.

    

    NOW, THEREFORE, in
consideration of the mutual agreements, promises and covenants herein, the
receipt and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

    

    ARTICLE
I.

    Settlement
and Releases

    

    1.
1.         Settlement
Payment.  Aurora hereby agrees to deliver to <> on or
before <>, <> shares (the “Registrable Securities”) of
its common stock (the “Settlement Payment”) in full
satisfaction of its obligations, including but not limited to the $<>
claimed to be due and owed to <>;

    

    1.2           Mutual
Releases.   (a)   Except with regard to the
obligations of Aurora hereunder and as to any claims arising as a result of a
breach of Aurora’s obligations hereunder, <> individually and on behalf of
his successors and assigns, does hereby fully release, remise and forever
discharge Aurora and its respective officers, directors, shareholders,
employees, subsidiaries, attorneys, representatives and agents from any and all
debts, obligations, liabilities, accountings, promises, covenants, agreements,
contracts, controversies, suits, actions, causes of actions, judgments, damages,
claims, demands, in law or in equity, which <> ever had, now has, or
hereafter can, shall or may have against them for, upon or by reason of any
matter, cause or thing whatsoever, from the beginning of the world to the date
hereof.

    

    (b)           Except
with regard to the obligations of <> hereunder, and as to any claims
arising as a result of a breach of <> obligations hereunder, Aurora does
hereby fully release, remise and forever discharge <> and its attorneys,
representatives and agents from any and all debts, obligations, liabilities,
accountings, promises, covenants, agreements, contracts, controversies, suits,
actions, causes of actions, judgments, damages, claims, demands, in law or in
equity, which Aurora ever had, now have, or hereafter can, shall or may have
against them for, upon or by reason of any matter, cause or thing whatsoever,
from the beginning of the world to the date hereof.

    

    (c)           The
releases set forth in this Agreement are intended by the parties to release all
claims, whether known, unknown, foreseen, unforeseen, patent or latent, which
one party may have against the other as of the date of this
Agreement.  Each party understands and acknowledges the significance
and consequence of such specific intention to release all
claims.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    (d)           Anything
herein to the contrary notwithstanding, should Aurora fail to make the
Settlement Payment, the release of Aurora given by <> shall be null and
void and of no force and effect.

     

    ARTICLE
II

    General
Terms

    

    2.1           Full
Information.   This Agreement is executed by each party
after having obtained the advice, or being given the opportunity to obtain the
advice, of counsel.

    

    2.2           Entire
Agreement.  This Agreement constitutes and expresses the entire
agreement between the parties hereto with respect to any of the matters and
things herein provided for and all prior agreements, understandings, obligations
or statements by and between the parties concerning the subject matter hereby
will be merged with and into and be superseded by this Agreement and shall be of
no further force and effect.  No modification, amendment or waiver of
any provision of this Agreement, or any consent to any departure by any party
from the terms hereof, shall be effective unless the same be in writing and
signed by all parties hereto.

    

    2.3           Invalidity.  If any
part of this Agreement, or the application thereof to any person or
circumstance, shall be determined by a court of competent jurisdiction to be
invalid or unenforceable, the remainder of this Agreement, or the application of
such term or provision to persons or circumstances other than those as to which
it is determined to be invalid or unenforceable, shall not be affected thereby,
and each term and provision of this Agreement shall be valid and enforced to the
fullest extent permitted by law.

    

    2.4           Authority of Person
Signing.  Each of the parties to this Agreement has full power
and authority to execute, deliver and perform this Agreement, and this Agreement
is the legal, valid and binding obligation of each of the parties hereto, and is
enforceable in accordance with its terms and conditions. The person executing
this Agreement on behalf of a party hereto represents to the other party that
he/she is duly authorized to execute this Agreement.

    

    2.5           Successors and
Assigns.  This Agreement shall inure to the benefit of and be
binding upon the permitted successors and assigns of each of the parties
hereto.

    

    2.6           Counterparts. This Agreement
may be executed in two or more counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have
been signed by each party and delivered to the other party. This Agreement, once
executed by a party, may be delivered to the other parties hereto by facsimile
transmission of a copy of this Agreement bearing the signature of the party so
delivering this Agreement. In the event any signature is delivered by facsimile
transmission, the party using such means of delivery shall cause the manually
executed execution page(s) hereof to be physically delivered to the other party
within five days of the execution hereof, provided that the failure to so
deliver any manually executed execution page shall not affect the validity or
enforceability of this Agreement.

    
      
         

      

      
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    2.7           Further
Cooperation.   Each party shall do and perform, or cause
to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents,
as the other party may reasonably request in order to carry out the intent and
accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

    

    2.8           Captions, Headings and
Gender.  Captions and section headings used herein are for
convenience only and are not a part of this Agreement and shall not be used in
construing it. The use of masculine third person singular pronoun in this
Agreement shall be deemed to include the feminine and neuter third person
singular pronoun. The language used in this Agreement will be deemed to be the
language chosen by the parties to express their mutual intent and no rules of
strict construction will be applied against any party.

    

    2.9           Piggy-Back
Registrations.  If at any time prior to the expiration of (i)
Aurora shall determine to file with the Commission a Registration Statement
relating to an offering for its own account or the account of others under the
Securities Act of 1933 Act of any of its equity securities (other than on Form
S-4 or Form S-8 or their then equivalents relating to equity securities to be
issued solely in connection with any acquisition of any entity or business or
equity securities issuable in connection with stock option or other employee
benefit plans), and (ii) there is not then a Registration Statement in effect
with respect to the Registrable Securities, then Aurora shall send to the
Signatory written notice of such determination and, if within fifteen (15) days
after the effective date of such notice, the Signatory shall so request in
writing, Aurora shall include in such registration statement all or any part of
the Registrable Securities the Signatory requests to be registered, except that
if, (i) inclusion of such shares would result in the offering not being Rule 415
Eligible, or (ii) in connection with any underwritten public offering for the
account of Aurora, the managing underwriter(s) thereof shall impose a limitation
on the number of shares of Common Stock which may be included in the
Registration Statement because, in such underwriter(s)' judgment, marketing or
other factors dictate such limitation is necessary to facilitate public
distribution, then Aurora shall be obligated to include in such Registration
Statement only such limited portion of the Registrable Securities with respect
to which the Signatory has requested inclusion hereunder (i) as would enable the
offering to be Rule 415 Eligible or (ii) as the underwriter shall
permit;

    

    2.10         Notice.  Any and all
notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given and effective
on the earliest of (i) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile telephone number specified in this
Section 2.9 prior to 4:30 p.m. (Delaware time) on a business day, (ii) the
business day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile telephone number specified in the this
Agreement later than 4:30 p.m. (Delaware time) on any date and earlier than
11:59 p.m. (Delaware time) on such date, (iii) the business day following the
date of mailing, if sent by nationally recognized overnight courier service, or
(iv) upon actual receipt by the party to whom such notice is required to be
given.  The address for such notices and communications shall be as
follows or such other address as may be designated in writing hereafter, in the
same manner, by such party.

    
      
         

      

      
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              If
      to Aurora Gold Corp.:

            	
              If
      to <>:

            
	 
      	 
      
	
              Aurora
      Gold Corp.

            	
              <>

            
	
              Baarerstrasse
      10, 1st
      Floor, 6300, Zug,

            	 
      
	
              Switzerland

            	 
      
	
              Att:  Lars
      <> Investment, CEO

            	 
      

    

    

    2.11         Effectiveness. This Settlement
Agreement shall not be deemed effective until executed by both parties
hereto.

    

    2.12         Governing Law.  The
corporate laws of the State of Delaware shall govern all issues concerning the
relative rights of Aurora and its stockholders.  All other questions
concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by the internal laws of the State of New York,
without giving effect to any choice of law or conflict of law provision or rule
(whether of the State of New York or any other jurisdictions) that would cause
the application of the laws of any jurisdictions other than the State of New
York.   Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting the City of New York, for
the adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is brought in an inconvenient forum or that the
venue of such suit, action or proceeding is improper.  Each party
hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy thereof to
such party at the address for such notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and
notice thereof.  Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law.  If
any provision of this Agreement shall be invalid or unenforceable in any
jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the
validity or enforceability of any provision of this Agreement in any other
jurisdiction.  EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY

    
      
         

      

      
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    NOW, THEREFORE, intending to
be bound, as of the date written above, the parties execute this Agreement under
seal.

    

    

    Aurora
Gold Corp.

     

     

    
      	By: 	/Signed/ “Lars
      Pearl”	By: 	 	 
	 	Name:      
      Lars Pearl   	 	      
      Name: <>	 
	 	Title:        
      President, CEO and Director    	 	      
      Title:   <>	 

    

                                             

    5Unassociated Document

     

    Exhibit
10.1

     

    AMENDED AND
RESTATED

    EMPLOYMENT
AGREEMENT

    

    THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into effective as of
the 28th day of
May 2010 by and between Aerosonic Corporation, hereinafter called the “Company,”
and P. Mark Perkins, hereinafter called “Executive,” and provides as
follows:

    

    RECITALS

    

    WHEREAS,
the Company and Executive entered into an employment agreement dated May 14,
2003, which was subsequently amended and restated on November 28, 2005 (the
“Amended Agreement”); and WHEREAS, the Company desires to amend and restate the
Amended Agreement on the terms and conditions hereafter set forth;
and.

    WHEREAS,
the parties have mutually agreed upon the terms and conditions of Executive’s
employment by the Company as hereinafter set forth.

    

    TERMS OF
AGREEMENT

    

    NOW,
THEREFORE, for and in consideration of the premises and of the mutual promises
and undertakings of the parties as hereinafter set forth, the parties covenant
and agree as follows:

    

    Section
1.                      Employment.  Executive
shall continue to be employed as Executive Vice President of Sales and Marketing
of the Company.  He shall perform such services for the Company as may
be assigned to Executive from time to time upon the terms and conditions
hereinafter set forth.  Executive shall report to the Chief Executive
Officer of the Company.

    

    Section
2.                      Term.  This
Agreement shall commence on 28 May 2010, (the “Effective Date”), and Executive’s
employment shall be “at will” and may be terminated by Executive or the Company
in accordance with Section 9 of this
Agreement.

    

    Section
3.                      Exclusive
Service.  Executive shall devote his best efforts and full time
to rendering services on behalf of the Company in furtherance of its best
interests.  Executive shall comply with all policies, standards and
regulations of the Company now or hereafter promulgated, and shall perform his
duties under this Agreement to the best of his abilities and in accordance with
standards of conduct applicable to an executive vice president of a publicly
traded company.

    

    Section
4.                      Salary.

    

    
      	
              (a)  

            	
              As
      compensation while employed hereunder, Executive, during his faithful
      performance of this Agreement, in whatever capacity rendered, shall
      receive an annual base salary of $172,224.00, payable on such terms and in
      a series of substantially equal installments according to the Company’s
      normal payroll practices.  The Company’s Board of Directors, in
      its discretion, may adjust Executive’s base salary during the term of this
      Agreement.

            

    

    

    
      	
              (b)  

            	
              The
      Company shall withhold state and federal income taxes, social security
      taxes and such other payroll deductions as may from time to time be
      required by law or agreed upon in writing by Executive and the
      Company.  The Company shall also withhold and remit to the
      proper party any amounts agreed to in writing by the Company and Executive
      for participation in any corporate sponsored benefit plans for which a
      contribution is required.

            

    

    

    
      	
              (c)  

            	
              Except
      as otherwise expressly set forth hereunder, no compensation shall be paid
      pursuant to this Agreement in respect of any month or portion thereof
      subsequent to any termination of Executive’s employment with the
      Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section
5.                      Benefits.  Executive
shall be entitled to participate in or become a participant in any fringe
benefits and employee benefit plans maintained by the Company for which he is or
will become eligible on such terms as the Company’s Board of Directors may, in
its discretion, establish, modify or otherwise change, consistent with the terms
of any such employee benefit plan.  Executive shall be entitled to
four (4) ] weeks of paid vacation per year in accordance with the policies of
the Company.

    

    Section
6.                      Stock Incentive
Plan.  Executive will be entitled to participate in the
Company’s Stock Incentive Plan, as the Company’s Board of Directors, in its
discretion, may decide and to the extent permitted under the terms of the
plan.

    

    Section
7.                      Annual Cash Incentive
Program.  Executive will be entitled to participate in the
Company’s Annual Cash Incentive Program, as the Company’s Board of Directors, in
its discretion, may decide and in accordance with the terms of such
program.

    

    Section
8.                      Business
Expenses.  The Company shall reimburse Executive for reasonable
and customary business expenses incurred in the conduct of the Company’s
business.  Such expenses will include business meals, out-of-town
lodging and travel expenses, and membership dues and costs to attend meetings
and conventions of business-appropriate organizations and
associations.  Executive agrees to timely submit records and receipts
of reimbursable items and agrees that the Company can adopt reasonable rules and
policies regarding such reimbursement.  Each approved reimbursement
shall be made in no event later than December 31 of the year following the year
in which the expense was incurred.

    

    Section
9.                      Termination.

    
      	
              (a)  

            	
              Notwithstanding
      the cessation of Executive’s employment, the parties hereto shall be
      required to carry out any provisions of this Agreement which contemplate
      performance by them subsequent to such termination.  In
      addition, no termination shall affect any liability or other obligation of
      either party hereto which shall have accrued prior to such termination,
      including, but not limited to, any liability, loss or damage on account of
      breach.  No termination of employment shall terminate the
      obligation of the Company to make payments of any vested benefits provided
      hereunder or pursuant to any Executive benefit plan maintained by the
      Company in which Executive participates at the time of such termination or
      the obligations of Executive under Sections 10, 11 and
      12 of this Agreement.

            

    

    

    
      	
              (b)  

            	
              Executive’s
      employment hereunder may be terminated by Executive upon thirty (30) days
      written notice to the Company or at any time by mutual agreement in
      writing.

            

    

    

    
      	
              (c)  

            	
              This
      Agreement shall terminate upon the death of Executive; provided, however,
      that in such event, in addition to the compensation, (including salary and
      vested bonus, if any), accrued as of date of Executive’s death, the
      Company shall pay to the estate of Executive the salary which otherwise
      would have been payable to Executive from his date of death through then
      end of the month in which his death occurs in substantially equal
      installments at the time such payments would have been made in accordance
      with Section
      4(a) beginning with the pay date of the first full payroll period
      beginning immediately following the death of Executive, subject to Section
      24.

            

    

    

    
      	
              (d)  

            	
              The
      Company may terminate Executive’s employment other than for “Cause,” as
      defined in Section 9(e),
      at any time upon written notice to Executive, which termination shall be
      effective immediately.

            

    

    

    
      	
              (e)  

            	
              The
      Company shall have the right to terminate Executive’s employment under
      this Agreement at any time for Cause, which termination shall be effective
      immediately.  Termination for “Cause” shall include termination
      for Executive’s personal dishonesty, willful misconduct, breach of a
      fiduciary duty involving personal profit, willful violation of any law,
      rule or regulation (other than traffic violations or similar offenses),
      conviction of a felony or of a misdemeanor involving moral turpitude,
      misappropriation of the Company’s assets, or a material breach of any
      other provision of this Agreement.  In the event Executive’s
      employment under this Agreement is terminated for Cause, Executive shall
      thereafter have no right to receive any compensation or other benefits
      under this Agreement.

            

    

     

    
      
        
        

      

      
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              (f)  

            	
              The
      Company may terminate Executive’s employment under this Agreement, after
      having established Executive’s disability, by giving to Executive written
      notice of its intention to terminate his employment for disability and his
      employment with the Company shall terminate effective on the 90th day
      after receipt of such notice if within 90 days after such receipt
      Executive shall fail to return to the full-time performance of the
      essential functions of his position (and if Executive’s disability has
      been established pursuant to the definition of “disability” set forth
      below).  For purposes of this Agreement, “disability” means
      either (i) disability which after the expiration of more than 13
      consecutive weeks after its commencement is determined to be total and
      permanent by a physician selected and paid for by the Company or its
      insurers, and acceptable to Executive or his legal representative, which
      consent shall not be unreasonably withheld or (ii) disability as defined
      in the policy of disability insurance maintained by the Company for the
      benefit of Executive, whichever shall be more favorable to
      Executive.  Notwithstanding any other provision of this
      Agreement, the Company shall comply with all requirements of the Americans
      with Disabilities Act, 42 U.S.C. § 12101 et. seq.  Upon
      termination for disability, Executive in addition to the compensation
      (including salary and vested bonus, if any) accrued as of date of this
      termination, will also receive in substantially equal installments the
      salary that would otherwise would have been payable to Executive through
      the end of the month in which such termination occurs at the time such
      payments would have been made in accordance with Section 4(a)
      beginning with the pay date of the first full payroll period beginning
      immediately following the effective date of Executive’s termination of
      employment because of Executive’s disability, subject to Section
      24.

            

    

    

    
      	
              (g)  

            	
              In
      addition to the compensation (including salary and vested bonus, if any)
      accrued as of date of this termination, Executive is entitled to severance
      pay of six (6) months salary if Executive is terminated by the Company.
      Executive is not entitled to any severance if the termination is due to
      “Cause” as defined in Section
      9(e).  Payment of severance will be made in substantially
      equal installments according to the Company’s normal payroll practices as
      consistent with the payment of Executive compensation pursuant to Section
      4(a).

            

    

     

    Section
10.                      Confidentiality/Nondisclosure.  Executive
covenants and agrees that any and all information concerning the customers,
businesses and services of the Company of which he has knowledge or access as a
result of his association with the Company in any capacity, shall be deemed
confidential in nature and shall not, without the proper written consent of the
Company, be directly or indirectly used, disseminated, disclosed or published by
Executive to third parties other than in connection with the usual conduct of
the business of the Company.  Such information shall expressly
include, but shall not be limited to, information concerning the Company’s trade
secrets, business operations, business records, customer lists or other customer
information.  Upon termination of employment Executive shall deliver
to the Company all originals and copies of documents, forms, records or other
information, in whatever form it may exist, concerning the Company or its
business, customers, products or services.  In construing this
provision it is agreed that it shall be interpreted broadly so as to provide the
Company with the maximum protection.  This Section 10 shall not
be applicable to any information which, through no misconduct or negligence of
Executive, has previously been disclosed to the public by anyone other than
Executive.

    

    Section
11.                      Covenants Against
Competition.  Executive acknowledges that he will obtain from
the Company valuable information regarding the business of the Company, and that
the services to be rendered by Executive are of a special character which have
unique value to the Company, the loss of which will not be readily
calculable.  Executive further acknowledges that the customers of the
Company are located throughout the world, and the market of the Company has no
defined geographic boundaries, so a business could be located anywhere in the
world, and certainly within the United States, and compete with the
Company.  In view of the unique value to the Company of the services
of Executive and in light of the confidential information to be obtained by or
disclosed to Executive as hereinabove set forth, including access to the
business plans and methods of operation of the Company, and as a material
inducement to the Company to employ Executive, he covenants and agrees as
follows:

     

    
      	
              (a)  

            	
              Commencing
      with the date of this Agreement and continuing for a period of six (6)
      months after he ceases to be employed by the Company for any reason,
      Executive shall not, directly or indirectly, recruit, solicit for
      employment or employ any person who was an employee of the Company at any
      time during the twelve (12) months preceding the cessation of Executive’s
      employment.

            

    

    

    
      
        
        

      

      
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    Section
13.                      Remedies.  Executive
agrees that a breach of any of the covenants set forth in Sections 10 or 11 or
their subparts would result in irreparable injury and damage to the Company for
which it would have no adequate remedy at law; and Executive further agrees that
in the event of such a breach, the Company shall be entitled to an immediate
injunction to prevent such violations.  In the event an action is
brought in regard to the covenants set forth in Sections 10 or 11,
the prevailing party shall be entitled to receive all costs and attorneys’ fees
as a result of such breach.

    

    Section
13.                      Reasonableness of
Restrictions.  Executive has carefully read and considered the
provisions of Sections
10 and 11 hereof and, having done so, agrees that the restrictions set
forth in such Sections (including but not limited to, the time period of the
restrictions, the geographic restrictions and the restrictions on the scope of
activity set forth in Section 11 hereof)
are fair and reasonable and are reasonably required for the protection for the
interests of the Company, its officers, directors, and other
employees.

    

    Section
14.                      Governing
Law.  This Agreement shall be subject to and construed in
accordance with the laws of the State of Florida, without giving effect to its
principles of conflict of laws.

    

    Section
15.                      Venue.  Executive
agrees that, at the option of the Company, any action brought to enforce or to
test the enforceability of any provision of this Agreement, may be brought in
either the United States District Court for the Middle District of Florida or
the Circuit Court of Pinellas County, Florida.

    

    Section
16.                      Continued
Validity.  In the event that any of the provisions of Sections 10 or 11 (or
their subparts) hereof shall be held to be invalid or unenforceable, the
remaining provisions shall nevertheless continue to be valid and enforceable as
though the invalid or unenforceable parts had not been included
therein.  In the event that any provisions of Section 11 relating
to geographic scope, time period and/or restricted activity shall be declared by
a court of competent jurisdiction to exceed the maximum time period or
restrictions on activities such court deems reasonable and enforceable, the
parties agree that said geographic scope, time period, and/or other restrictions
may be modified by the court in a manner which such court deems reasonable and
enforceable.

    

    Section
17.                      Assignability.  This
Agreement shall be binding upon and inure to the benefit of the Company, and may
be assigned by the Company to any person or firm who may succeed to the majority
of the assets of the Company.  This Agreement shall not be assignable
by Executive.

    

    Section
18.                      Notices.  Any
and all notices, designations, consents, offers, acceptance or any other
communications provided for herein shall be given in writing and shall be deemed
properly delivered if delivered in person or by registered or certified mail,
return receipt requested, addressed in the case of the Company to its registered
agent or in the case of Executive to his last known address.

     

    Section
19.                      Entire
Agreement.

     

    
      	
              (a)  

            	
              This
      Agreement constitutes the entire agreement among the parties with respect
      to the subject matter hereof and supersedes any and all other agreements,
      either oral or in writing, among the parties hereto with respect to the
      subject matter hereof.

            

    

    

    
      	
              (b)  

            	
              This
      Agreement may be executed in one or more counterparts, each of which shall
      be considered an original copy of this Agreement, but all of which
      together shall evidence only one
agreement.

            

    

    

    
      
        
        

      

      
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    Section
20.                      Amendment and
Waiver.  This Agreement may not be amended except by an
instrument in writing signed by or on behalf of each of the parties
hereto.  No waiver of any provision of this Agreement shall be valid
unless in writing and signed by the person or party to be charged.

    

    Section
21.                      Case and
Gender.  Wherever required by the context of this Agreement,
the singular or plural case and the masculine, feminine and neuter genders shall
be interchangeable.

    

    Section
22.                      Captions.  The
captions used in this Agreement are intended for descriptive and reference
purposes only and are not intended to affect the meaning of any Section
hereunder.

    

    Section
23.                      Section
409A.  This Agreement is intended to comply with the applicable
requirements of Section 409A of the Code and shall be construed and interpreted
in accordance therewith.  Notwithstanding the preceding, the Company
shall not be liable to Executive or any other person if the Internal Revenue
Service or any court or other authority having jurisdiction over such matter
determines for any reason that any payments under this Agreement are subject to
taxes, penalties or interest as a result of failing to comply with Section 409A
of the Code.

    

    Section
24.                      Delay of
Payment.  Notwithstanding any other provision of this
Agreement, if Executive is a “specified employee” within the meaning of Section
409A of the Code, to the extent necessary to comply with Section 409A of the
Code, no payments (which are not otherwise exempt) may be made hereunder before
the date which is six months after Executive’s separation from service or, if
earlier, his death.  Any amounts which would have otherwise been
required to be paid during such six months or, if earlier, until Executive’s
death, shall be paid to Executive in one lump sum cash payment as soon as
administratively practical after the date which is six months after Executive’s
separation from service or, if earlier, after Executive’s death.  Any
other payments scheduled to be made under this Agreement shall be made and
provided at the times otherwise designated in this Agreement disregarding the
delay of payment for the payments described in this Section
24.  Additionally, notwithstanding any other provision of this
Agreement, Executive will only be entitled to receive payment on termination of
his employment when the termination of employment qualifies as a “separation
from service” within the meaning of Section 409A of the Code.

    

    

    [Signature
Page Follows]

     

    
      
        
        

      

      
        5

        
          

        

      

       

    

    IN WITNESS WHEREOF, the Company has
caused this Agreement to be signed by its duly authorized officer and Executive
has hereunto set his hand and seal on the day and year first above
written.

     

    
      
        	 	AEROSONIC
      CORPORATION	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Douglas
      J. Hillman	 
	 	 	Douglas
      J. Hillman,	 
	 	 	President
      and Chief Executive Officer	 
	 	 	 	 

      

      
        	 	EXECUTIVE	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ P.
      Mark Perkins	 
	 	 	P.
      Mark Perkins,	 
	 	 	Executive
      Vice President of Sales
      and Marketing	 
	 	 	 	 

      

    

     

    
      
        
        

      

      
        6

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