Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT 

This SEPARATION AGREEMENT (“Agreement”) is made and entered into by and between David M. Rausch (“Employee”) and Kewaunee
Scientific Corporation (“Company”). 
 WHEREAS, Employee is currently employed by Company as an at-will employee; 
 WHEREAS, Employee has decided to resign from employment with Company, and Company has
accepted Employee’s resignation; and 
 WHEREAS, Employee and Company desire to resolve amicably any and all potential claims, disputes
and other matters between them based upon, arising from or relating to Employee’s employment relationship with Company and Employee’s separation from employment. 

NOW, THEREFORE, for and in consideration of the mutual promises hereinafter expressed, it is hereby agreed by and between Employee and Company
as follows: 
 1. Employment. Employee acknowledges and agrees that Employee’s employment relationship with Company has
been permanently and irrevocably severed as of Friday, March 8, 2019 (the “Separation Date”), and that Company has no obligation, contractual or otherwise, to hire, rehire or re-employ Employee
in the future. On the next regularly scheduled payday following the Separation Date, Employee will be paid for any wages owed through that date and any accrued but unused vacation, less normal and appropriate withholdings. Payment of
benefits, if any, under the employee benefit plans maintained by Company and in which Employee participates will be made in accordance with applicable plan terms. Specifically, but without limitation, pursuant to the terms and conditions governing
Employee’s options to acquire Company stock under the Kewaunee Scientific Corporation 2008 Key Employee Stock Option Plan, Employee will be able to exercise otherwise exercisable options during the lesser of a three-year period following the
Separation Date or the termination date specified in the option grant.  
 2. Consideration. In consideration of
Employee signing and returning this Agreement to Company by Friday, March 29, 2019 and abiding by the obligations described in paragraphs 6, 7, 8, 9 and 10 of this Agreement, and after expiration of the seven (7) day revocation period
provided for in this Agreement, Company agrees as follows: 
 a. Company will pay severance in the amount of Employee’s current base
salary for 14 months, less normal and appropriate withholdings. This severance will be paid out in equal monthly installments over a period of 35 months, beginning in April, 2019 and continuing through February, 2022. 

b. Employee may continue to participate in Company’s existing medical and dental plans through February, 2022. Employee’s portion of
the medical and dental insurance premiums will be the same as if he were an active employee and will be deducted from the severance payments noted above. Company reserves the right to end the benefit described in the Section 2.b prior to
February, 2022, if Company determines, in its discretion, that it would subject Company to penalties under applicable laws. 

 c. Company will transfer Employee’s mobile number to Employee’s authority and
allow him to keep the iPhone currently in his possession if so desired. Employee’s access to Company’s email system will cease as of last day worked. Company will allow Employee to keep the Surface Pro tablet currently in his possession,
provided he first returns it to Company for preparation and system cleaning. 
 3. Release.

a. Employee, intending to be legally bound, and for and in consideration of the obligations undertaken pursuant to this Agreement, does for
himself, his heirs, executors, administrators, successors and assigns hereby remise, release and forever discharge Company, its successors, predecessors, parents, subsidiaries, affiliates, assigns, directors, officers, agents, attorneys, employees
and former employees, and all persons, corporations or other entities who might be claimed to be jointly and severally liable with them (collectively, “the Released Parties”), from any and all actions, claims, demands, suits and
compensation whatsoever, including those based upon, arising from or relating to his employment relationship with Company or the termination of that relationship, whether known or unknown or whether asserted or unasserted, from the beginning of time
to the date of execution of this Agreement. This release includes, but is not limited to, claims under the Age Discrimination in Employment Act (29 U.S.C. § 621 et seq.), the Americans with Disabilities Act of 1990, as amended (42 U.S.C.
§ 12101 et seq.), Title VII of the Civil Rights Act of 1964, as amended (42 U.S.C. § 2000e et seq.), the Family and Medical Leave Act of 1993, as amended (29 U.S.C. § 2601 et seq.), and the Employee Retirement
Income Security Act of 1974, as amended (29 U.S.C. § 1001 et seq.), claims for breach of contract, wrongful discharge, retaliation, infliction of emotional distress and any other statutory or common law theories, from the beginning of
time to the date of execution of this Agreement, which Employee or anyone claiming by, through or under Employee in any way might have or could claim against any of the Released Parties. In addition, Employee knowingly and intentionally waives any
right to any additional recovery that may be sought on Employee’s behalf against any of the Released Parties by any other person, entity, local, state or federal government or agency thereof, including, without limitation, the state or federal
Department of Labor.  
 b. Nothing in this Agreement is intended to waive claims (i) for unemployment or workers’
compensation benefits, (ii) for vested rights under ERISA-covered employee benefit plans as applicable on the date Employee signs this Agreement, (iii) that may arise after Employee signs this Agreement, or (iv) which cannot be
released by private agreement. In addition, nothing in this Agreement prevents Employee from filing a charge or complaint with, or from participating in an investigation or proceeding conducted by, the Equal Employment Opportunity Commission or any
other any federal, state or local agency charged with the enforcement of any laws, although by signing this Agreement Employee is waiving any and all rights to individual relief based on claims asserted in such a charge or complaint, or asserted by
any third-party on Employee’s behalf, except where such a waiver of individual relief is prohibited. 

  
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 4. Additional Representations. Employee represents and warrants that Employee
was properly paid for all time worked while employed by Company and that Employee received all benefits to which Employee was entitled. Employee further acknowledges that Employee knows of no facts and has no reason to believe that Employee’s
rights under the Fair Labor Standards Act have been violated. 
 5. No Admission of Liability. The payments and other
consideration described herein are not to be construed as an admission of any liability or violation of any federal, state or local statute or regulation, or of any duty owed by Company, Company having denied and continuing to deny any and all
liability. 
 6. Return of Company Property. Within three (3) days of Employee’s execution of this Agreement,
Employee shall return to Company all Company property, documents and information in Employee’s possession, custody or control, including but not limited to passwords, regardless of the form in which such documents or information may exist.
Employee shall not keep any copies of such documents or information. 
 7. Cooperation. Employee agrees to cooperate fully and
in good faith with Company and, if so requested by Company or any of the Released Parties, provide assistance and/or information related to any business matter, legal dispute, investigation, proceeding or litigation (threatened or pending) involving
Company or any of the Released Parties. 
 8. Confidentiality. 

a. During Employee’s employment, Employee became acquainted with confidential and proprietary information of Company. This information
includes but is not limited to financial matters, sales data, customers, strategies and other similar confidential matters (“Confidential Information”). The use or disclosure of this Confidential Information would seriously damage the
business or interests of Company and/or the applicable Released Parties. Therefore, Employee agrees that Employee will not use, disclose or otherwise reveal any Confidential Information. 

b. Employee agrees that Employee will not, at any time or in any manner, either directly or indirectly, disclose, divulge, communicate or
otherwise reveal or allow to be revealed the terms, substance or content of this Agreement, or the terms, substance or content of any communications, written or oral, concerning the negotiation, execution or implementation of this Agreement, to
anyone other than Employee’s attorney, accountant or spouse (who likewise agree to maintain confidentiality), unless required by subpoena, court order or applicable law. 

c. Pursuant to the federal Defend Trade Secrets Act of 2016, 18 USC § 1835(b), Company will not retaliate or take adverse action against
Employee, and disclosure shall not be a violation of this Agreement, if it is based on Employee’s disclosure of information that: (A) is made (i) in confidence to a federal, state or local government official, either directly or
indirectly, or to an attorney, and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under
seal. 

  
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 9. Non-disparagement. Employee agrees
that Employee will not, directly or indirectly, either verbally, in writing or otherwise, disparage any of the Released Parties, including but not limited to making negative statements, comments or references about any of Company’s services,
facilities, operations or business practices, and Employee will not initiate or participate in any contact or communications, either verbally, in writing or otherwise, which have the effect of disrupting the orderly operations of Company or
damaging the reputation of any of the Released Parties, unless required by subpoena, court order or applicable law. 
 10. Non-Competition/Non-Solicitation.  
 a. During the
fourteen (14) month period immediately following the Separation Date, Employee will not engage or invest in, manage, operate, control, or participate in the management, operation, or control of, any entity whose products or activities compete
with the products or activities of the Business (as defined below), anywhere within the Territory (as defined below); provided, however, that nothing set forth in this Section shall prohibit Employee from owning not in excess of 1% in the aggregate
of any class of capital stock of any corporation if such stock is publicly traded and listed on any national or regional stock exchange or reported on the NASDAQ Stock Market; 

b. During the fourteen (14) month period immediately following the Separation Date, Employee will not become employed in a capacity
similar to Employee’s role with Company by any person or entity whose products or activities compete with the products or activities of the Business (as defined below), anywhere within the Territory (as defined below); 

c. During the fourteen (14) month period immediately following the Separation Date, Employee will not provide independent contractor or
consulting services, which services are similar to the services provide by Employee to Company or which would involve the use by Employee of Company’s Confidential Information, to any person or entity whose products or activities compete with
the products or activities of the Business (as defined above), anywhere within the Territory (as defined below); 
 d. During the twenty-four
(24) month period immediately following the Separation Date, Employee will not (i) induce or attempt to induce any individual who was employed by Company at any time during the twelve (12) month period immediately preceding the
Separation Date, to leave Company’s employment, (ii) in any way interfere with the relationship between Company and any of its employees, (iii) employ, or otherwise engage as an employee, independent contractor or otherwise, any
individual who was employed by Company at any time during the twelve (12) month period immediately preceding the Separation Date, or (iv) induce or attempt to induce any customer, dealer, supplier, licensee or business relation of Company
to cease doing business with Company, or in any way interfere with the relationship between any customer, dealer, supplier, licensee or business relation of Company; or 

e. During the twenty-four (24) month period immediately following the Separation Date, Employee will not solicit the business of any
individual or entity that is or has been a customer or dealer of Company during the twelve (12) month period immediately preceding the Separation Date, if Employee had personal contact with such customer or dealer, or access to Confidential
Information regarding such customer or dealer, with respect to products or activities which compete with the products or activities of Company. 

  
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 f. As used herein, the term “Business” shall mean the design, manufacture, sale
and installation of laboratory, technical and laminate furniture products. By way of further clarification concerning the Business, laboratory furniture products include both steel and wood cabinetry, fume hoods, adaptable modular systems, moveable
workstations, environmentally friendly casework, biological safety cabinets, and epoxy resin counters, work surfaces, and sinks; technical furniture products include column systems, slotted-post systems, pedestal systems and stand-alone benches; and
laminate furniture products include laminate casework, systems and related products for educational, healthcare and industrial applications. 

g. As used herein, the term “Territory” shall mean: 

(i) Worldwide; 
 (ii) North and
South America; 
 (iii) North America; 

(iv) the United States of America; 

(v) any state in the United States of America in which Employee was responsible for performing or overseeing the performance of services on
behalf of Company and/or its customers or dealers at any time during the twelve (12) month period immediately preceding the Separation Date; or 

(vi) any state in the United States of America to which Company shipped its products or in which customers who purchased products from Company
were located, at any time during the twelve (12) month period immediately preceding the Separation Date. 
 11. ADEA/OWBPA Waiver
Acknowledgement. Employee acknowledges that: (a) Employee has had at least twenty-one (21) days to consider this Agreement; (b) Employee has read and understands the terms of this Agreement
and its effect; (c) Employee has been advised and has had the opportunity to consult with an attorney prior to executing this Agreement; (d) Employee has signed this Agreement voluntarily and knowingly in exchange for the consideration
described herein, which Employee acknowledges as adequate and more than Employee is already entitled to receive; (e) this Agreement will become effective seven (7) days after its signature by Employee (the “Effective Date”) and
will not be enforceable by Company or effective until after that seven (7) day period has expired; (f) within seven (7) days of signature, Employee may revoke this Agreement by providing written notice of revocation via hand-delivery
or e-mail to Beth Phillips, Vice President of Human Resources for Kewaunee, 2700 West Front Street, Statesville, NC 28677, bethphillips@kewaunee.com before midnight of the seventh day after the execution date
of this Agreement; and (g) no attempted revocation after the expiration of the seven (7) day period shall have any effect on the terms of this Agreement. 

12. Entire Agreement. This Agreement constitutes the entire agreement between Employee and Company as to Employee’s
employment relationship with Company and the termination of that relationship, and it supersedes and cancels any prior negotiations and agreements, whether written or not, relating to Employee’s employment relationship with Company and the
termination of that relationship; provided, however, that Employee shall remain bound by and subject to all agreements or other obligations of non-disclosure,
non-solicitation and/or non-competition to which Employee was a party or was otherwise bound in connection with Employee’s employment with Company. 

  
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 13. Internal Revenue Code Section 409A. This Agreement is intended to
comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) or an exemption thereunder and shall be construed and administered in accordance with Section 409A of the Code. Notwithstanding any other
provision of the Agreement, payments provided under the Agreement may only be made upon an event and in a manner that complies with Section 409A of the Code or an applicable exemption. Any payments under the Agreement that may be excluded from
Section 409A of the Code either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A of the Code to the maximum extent possible. For purposes of Section 409A
of the Code, each installment payment provided under the Agreement, if any, shall be treated as a separate payment. Any payments to be made under the Agreement upon a termination of employment shall only be made upon a “separation from
service” under Section 409A of the Code. Notwithstanding the foregoing, Company makes no representations that the payments and benefits provided under the Plan comply with Section 409A of the Code and in no event shall Company be
liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by Employee on account of non-compliance with Section 409A of the Code. 

14. Severability. Each provision of this Agreement is intended to be severable. If any term or provision of this Agreement, other
than paragraph 3, is held to be invalid, void or unenforceable by a court of competent jurisdiction for any reason whatsoever, such ruling shall not affect the remainder of this Agreement. 

15. Binding Effect. This Agreement will be binding upon, inure to the benefit of and be enforceable by any and all successors and
assigns of Company and Employee. 
 16. Governing Law. This Agreement and any dispute or controversy arising out of or relating
to this Agreement shall, in all respects, be governed by and construed according to the substantive laws of the State of North Carolina and without application of its choice of law principles. Any suit or other proceeding arising out of or relating
to this Agreement shall be instituted and maintained in the state or federal courts of North Carolina, and the parties hereby waive any objection to such jurisdiction and venue and irrevocably submit and consent to the personal jurisdiction of such
court in any such action or proceeding. 
 17. Voluntary Execution. The parties, intending to be legally bound, apply their
signatures voluntarily and with full understanding of the contents of this Agreement and after having had ample time to review and study this Agreement. 

[Signatures follow on separate page] 

  
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 Signed and executed this 24th day of March, 2019. 

 

					
	 WITNESS:
	 		 	
			
	  
	 	
                   
 
	 	 /s/ David M. Rausch
                                        
(SEAL)

		 		 	 Employee

			
		 		 	 Kewaunee Scientific Corporation

			
		 		 	 BY: /s/ David S.
Rhind                                     (SEAL)

		 		 	 TITLE: Chairman of the Board

  
 7Exhibit

Exhibit 4.4
VIRCO MFG. CORPORATION
2019 OMNIBUS EQUITY INCENTIVE PLAN
RESTRICTED STOCK AGREEMENT
THIS AGREEMENT made as of ___________, 2019 [insert date on which Committee awards the Restricted Stock] (the “Grant Date”), by and between Virco Mfg. Corporation (the “Company”), and ___________________ (the “Awardee”).
WITNESSETH:
WHEREAS, the Company has adopted and maintains the Virco Mfg. Corporation 2019 Omnibus Equity Incentive Plan, effective [_______], 2019 (the “Plan”), and
WHEREAS, the Committee has authorized the award to the Awardee of Restricted Stock under the Plan, on the terms and conditions set forth in the Plan and as hereinafter provided,
NOW, THEREFORE, in consideration of the premises contained herein, the Company and the Awardee hereby agree as follows:
1.Plan.  This Restricted Stock Award is made pursuant to the terms of the Plan which are incorporated herein by reference.  Terms used in this Agreement which are defined in the Plan shall have the same meaning as set forth in the Plan.
2.Award of Restricted Stock.  The Company hereby grants to the Awardee [insert # of shares] shares of Restricted Stock.  All such shares of Restricted Stock shall be subject to the restrictions and forfeiture provisions contained in Sections 4, 5 and 6, such restrictions and forfeiture provisions to become effective immediately upon execution of this Agreement by the parties hereto.
3.Share Certificates.  The Awardee hereby acknowledges that [insert #] share certificates for shares of Restricted Stock are hereby awarded and shall be promptly delivered to the Awardee hereunder, each bearing the following legend:
The transferability of this certificate and the shares represented hereby are subject to the terms and conditions (including forfeiture) of an Agreement entered into between the registered owner and Virco Mfg. Corporation, effective as of _________, 2019.  Copies of such Agreement are on file in the offices of the Secretary of Virco Mfg. Corporation, 2027 Harpers Way, Torrance, CA 90501.
4.Vesting.  Except as provided below and subject to the Awardee’s continued service with the Company for the applicable vesting period, the shares of Restricted Stock shall vest, no longer be subject to restrictions and become transferable pursuant to the terms of the Plan pursuant to the following schedule:
[Insert Vesting Schedule]
The shares of Restricted Stock shall not be transferable unless and until (and solely to the extent) the Awardee satisfies the vesting requirements contained herein.  To the extent the above vesting requirements are not satisfied, the nonvested shares of Restricted Stock shall be forfeited by the Awardee. 
5.Termination of Service.  In the event of the Awardee’s Termination of Service with the Company or an Affiliate, as applicable, for any reason prior to vesting of the shares of Restricted Stock, the terms of Article VI of the Plan shall control.

6.[Change of Control.  Notwithstanding the vesting requirements contained in Section 4, upon a Change of Control, all of the shares of Restricted Stock shall automatically become fully vested, no longer subject to restrictions and freely transferable, in each case as of the date of such Change of Control.
7.Voting and Dividend Rights.  The Awardee shall have the voting and dividend rights of a shareholder of Shares with respect to the shares of Restricted Stock; provided, however, that any dividends paid in the form of Shares shall be deposited with the Company, together with a share power endorsed in blank or other appropriate instrument of transfer and shall be subject to the same restrictions as the shares of Restricted Stock.]
8.Regulation by the Committee.  This Agreement and the shares of Restricted Stock shall be subject to the administrative procedures and rules as the Committee shall adopt.  All decisions of the Committee upon any question arising under the Plan or under this Agreement, shall be conclusive and binding upon the Awardee.
9.Withholding.  The Company or an Affiliate shall be entitled to deduct and withhold the minimum amount necessary in connection with the Awardee’s shares of Restricted Stock Award to satisfy its withholding obligations under any and all applicable federal, state and/or local tax rules or regulations.  The Awardee shall be entitled to make an election to include the Fair Market Value of the shares of Restricted Stock into income under Section 83(b) of the Code.
10.Amendment.  The Committee may amend this Agreement at any time and from time to time; provided, however, that no amendment of this Agreement that would materially and adversely impair the Awardee’s rights or entitlements with respect to the Restricted Stock shall be effective without the prior written consent of the Awardee.
11.Awardee Acknowledgment.  Awardee acknowledges and agrees that the vesting of Shares pursuant to this Agreement is earned only by continuing service with the Company.  Awardee further acknowledges and agrees that nothing in this Agreement, nor in the Plan shall confer upon the Awardee any right to continue in the service of the Company, nor shall it interfere in any way with Awardee’s right or the Company’s right to terminate Awardee’s service at any time, with or without Cause.  Awardee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof.  Awardee has reviewed the Plan and this Award in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award and fully understands all provisions of the Award.  By executing this Agreement, the Awardee hereby agrees to be bound by all of the terms of both the Plan and this Agreement.

	
			
	 
	VIRCO MFG. CORPORATION

	 
	 
	 

	 
	By:
Its:

, Awardee
	

 Date

 Date

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