Document:

EX-10.16

 EXECUTION COPY 

Exhibit 10.16 
 REGENEREX,
INC. 
 DEFERRED COMPENSATION PLAN 

This Regenerex, Inc. Deferred Compensation Plan (the “Plan”) is adopted by Regenerex, Inc. (the “Company”)
for the purpose of providing a deferred compensation arrangement to any independent members of the Board of Directors of the Company and their respective Beneficiaries in consideration of services rendered to the Company and as an inducement for
their continued services in the future. 
 ARTICLE I: DEFINITIONS 

Whenever used herein, the masculine pronoun shall be deemed to include the feminine, and the singular to include the plural, unless the
context clearly indicates otherwise, and the following definitions shall govern the Plan: 
 1.1. “Account” means an account
established under the Plan for each Participant who has made an Election with respect to Eligible Cash Compensation, to which there shall be credited or contributed such amounts as the Company shall determine in accordance with this Plan, including
the Participant’s Credited Investment Return (Loss) determined under Article III, and from which there shall be reduced by any distributions made to a Participant or Beneficiary. 

1.2. “Applicable Laws” means the requirements relating to the administration of this Plan under applicable state corporation
laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the shares of common stock of the Company are listed or quoted and the applicable laws of any foreign country or jurisdiction where Eligible Cash
Compensation will be deferred under this Plan. 
 1.3. “Beneficiary” means those persons, trusts or other entities entitled
to receive payments which may be payable hereunder upon a Participant’s death as determined under Article IV. 
 1.4.
“Benefit” means the amounts credited or contributed to a Participant’s Account pursuant to such Participant’s Election, plus or minus all Credited Investment Return (Loss). 

1.5. “Board of Directors” or “Board” means the Board of Directors of the Company, or, for purposes of
administering this Plan, a committee or subcommittee thereof designated by the Board to administer this Plan, provided that, any Director who participates in this Plan as a Participant shall not be a part of such committee or subcommittee. 

1.6. “Bylaws” means the bylaws of the Company, as amended or restated from time to time. 

1.7. “Charter” means the charter of the Company, as amended or restated from time to time. 

1.8. “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

  
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 1.9. “Company” means Regenerex, Inc. 

1.10. “Credited Investment Return (Loss)” means the hypothetical investment return which shall be credited to the
Participant’s Account pursuant to Article III. 
 1.11. “Distribution Date” means any date on which distribution of a
Participant’s Account Benefit is made pursuant to Article III and such Participant’s Election. 
 1.12. “Effective
Date” means December 20, 2018. 
 1.13. “Election” means a written election to participate and to defer
compensation by a Participant in such form and consistent with the terms of the Plan as the Company may prescribe from time to time. 

1.14. “Eligible Cash Compensation” means annual Board or committee retainers and meeting fees payable in cash by the Company.

 1.15. “Participant” means each Director of the Board of the Company, to the extent he has made an Election under the
Plan. 
 1.16. “Plan” means this Regenerex, Inc. Deferred Compensation Plan, as it may be amended from time to time. 

1.17. “Securities Act” means the Securities Act of 1933, as amended from time to time. 

1.18. “Section 409A” means Section 409A of the Code and the regulations and guidance promulgated
thereunder. 
 ARTICLE II: ELIGIBILITY 

2.1. Eligibility. Eligibility for participation in the Plan shall be limited to independent members of the Board of Directors of the
Company. The Participants shall be eligible to defer Eligible Cash Compensation in accordance with this Plan and rules established by the Board. Each person who becomes a Participant shall execute an Election in the form prescribed by the Company.

 2.2. Cessation of Participation. Participation in the Plan shall continue until all of the payments to which the Participant is
entitled thereunder have been paid in full. For purposes of any calendar year or other period as to which a deferral election relates, the substantive provisions of the Plan that are not specifically modified or amended in a manner permitted under
Section 409A by the Board, whether pursuant to an amendment to the Plan or otherwise, shall continue to be applicable. 
 2.3.
Deferral Elections Generally. To the extent permitted under Section 409A and other Applicable Laws, the Board may permit an Election by each Participant with respect to Eligible Cash Compensation for any calendar year or other specified
period. The Board may, by rule or Election or otherwise, provide or permit an Election as to the amounts, timing and other provisions applicable to any deferral election of Eligible Cash Compensation for any calendar year or other period to continue
to apply to Eligible Cash Compensation for future calendar years, without the requirement to make a new Election, unless changed in a timely manner in accordance with the requirements of Section 409A. 

  
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 2.4. Time of Election of Deferral. Except as provided in the next sentence, an
election to defer Eligible Cash Compensation must be made before the year in which the Eligible Cash Compensation is earned. To the extent permitted under Section 409A, the Board may permit a Participant, in his first year of eligibility for
the Plan, to make a deferral election within 30 days of first becoming eligible, provided that such a deferral election may relate only to Eligible Cash Compensation attributable to the period following the deferral election. Any change to an
Election may be effective only with regard to Eligible Cash Compensation earned commencing with the next calendar year and only to the extent permitted without penalty in accordance with the requirements of Section 409A. 

ARTICLE III: DEFERRAL OF ELIGIBLE CASH COMPENSATION 

3.1. Establishment of Accounts. The Company shall cause an Account to be kept in the name of each Participant and each Beneficiary of a
deceased Participant who has made an Election with respect to Eligible Cash Compensation, which shall reflect the value of such Participant’s Benefit, as adjusted from time to time to reflect Credited Investment Return (Loss). 

3.2. Crediting of Accounts. Except as otherwise determined by the Board, the Company shall credit to each Participant’s Account a
notional amount equal to the gross amount of the Eligible Cash Compensation deferred under the Plan. 
 3.3. Vesting. Except as
otherwise determined by the Board in advance of the Election deadline, amounts credited to an Account in respect of Eligible Cash Compensation (and the earnings (losses) credited thereon) shall be 100% vested. 

3.4. Credited Investment Return (Loss). Except as otherwise determined by the Board, the Account shall be credited with any earnings
(or losses) in accordance with investments designated by the Board after consultation with the Participant. For the avoidance of doubt, the Board shall not be bound by any investment preferences of the Participant. 

3.5. Timing of Distribution. The vested portion of a Participant’s Account shall be paid (or payment shall commence) in accordance
with the terms of the Participant’s Election. 
 3.6. Method of Distribution. Except as otherwise determined by the Board and/or
as elected by a Participant pursuant to an Election permitted by the Board, all payments from a Participant’s Account shall be made in cash. 

ARTICLE IV: BENEFICIARIES 

4.1. Designation of Beneficiary. Each Participant shall have the right to designate, on such form as may be prescribed by the Company,
a Beneficiary to receive any payments due under Article III which may remain unpaid at the Participant’s death and shall have the right at any time to revoke such designation and to substitute another such Beneficiary. 

  
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 4.2. No Designated Beneficiary. If, upon the death of the Participant, there is no
valid designation of a Beneficiary, the Beneficiary shall be the Participant’s estate. 
 ARTICLE V: ADMINISTRATION OF THE PLAN

 This Plan shall be administered by the Board (excluding any Participants). The Board has sole discretion to interpret the Plan and to
determine all questions arising in the administration, interpretation, and application of the Plan. The Board’s powers include the power, in its sole discretion and consistent with the terms of the Plan, to determine who is eligible to
participate in this Plan, to determine the eligibility for and the amount of benefits payable under the Plan, to establish rules for determining when and how elections can be made, to adopt any rules relating to administering the Plan and to take
any other action it deems appropriate to administer the Plan. The Board may delegate its authority hereunder to one or more officers of the Company. Whenever payments are to be made under this Plan, such payments shall be made consistent with the
terms of the applicable Election and no interest shall be paid on such amounts for any reasonable delay in making the payments. The Board’s decisions under the Plan shall be final and binding on all Participants, as well as the
Participant’s heirs, assigns, administrator, executor, and any other person claiming through the Participant. This Plan shall be interpreted and administered in a manner that complies with Section 409A. 

ARTICLE VI: MISCELLANEOUS 

6.1. The right of a Participant or his or her designated Beneficiary to receive a distribution hereunder shall be an unsecured claim against
the general assets of the Company, and neither the Participant nor a designated Beneficiary shall have any rights in or against any specific assets of the Company. The contents of each Account shall be considered assets of the Company until
distributed to a Participant or his or her designated Beneficiary. This Plan shall not be construed to require the Company to fund, prior to payment, any amounts payable under this Plan. 

6.2. If, in the Company’s opinion, a Participant or Beneficiary for any reason is unable to handle properly any payments payable to him or
her under the Plan, then the Company may make such arrangements which it determines to be beneficial to such Participant or Beneficiary, to the extent such arrangements have not been made by such Participant or Beneficiary, for the distribution of
such payment, including (without limitation) the distribution of such payment to the guardian, conservator, spouse or dependent(s) of such Participant or Beneficiary. 

6.3. The right of any Participant, any Beneficiary, or any other person to the payment of any amounts under this Plan shall not be assigned,
transferred, pledged or encumbered. 
 6.4. This Plan shall be binding upon and inure to the benefit of the Company, its successors and
assigns and the Participant and his heirs, executors, administrators and legal representatives. 
 6.5. Nothing contained herein shall be
construed as conferring upon any Participant the right to continue in the service of the Company as a member of the Board of Directors. Nothing in this Plan or any Benefits shall in any way interfere with or limit the right of the Company, or any
affiliate of the Company, to terminate any Participant’s status as a member of the Board of Directors at any time, as applicable, or confer upon any Participant any right to continue in the service of the Company or any affiliate of the
Company. 

  
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 6.6. If the Company, the Participant, any Beneficiary, or a successor in interest to any of
the foregoing, brings legal action to enforce any of the provisions of this Plan, the prevailing party in such legal action shall be reimbursed by the other party for the prevailing party’s costs of such legal action including, without
limitation, reasonable fees of attorneys, accountants and similar advisors and expert witnesses. 
 6.7. This Plan shall be governed and
construed in accordance with the laws of the State of Delaware (regardless of the law that might otherwise govern under applicable principles of conflict of laws) except to the extent the laws of the State of Delaware are superseded by or conflict
with Applicable Law. 
 6.8. This Plan constitutes the entire understanding and agreement with respect to the subject matter contained
herein, and there are no agreements, understandings, restrictions, representations or warranties among a Participant and the Company other than those set forth or provided for herein. 

6.9. If any provision of this Plan is held to be illegal or invalid for any reason, that illegality or invalidity shall not affect the
remaining portions of this Plan, but such provision shall be fully severable and this Plan shall be construed and enforced as if the illegal or invalid provision had never been included in this Plan. Such an illegal or invalid provision shall be
replaced by a revised provision that most nearly comports to the substance of the illegal or invalid provision. If any of the terms or provisions of this Plan or any Election conflict with the requirements of Applicable Laws, those conflicting terms
or provisions shall be deemed inoperative to the extent they conflict with Applicable Law. In the event of any conflict or ambiguity between an Election and the Plan, the terms of the Plan shall govern. 

6.10. No person constituting, or member of the group constituting, the Board shall be liable for any act or omission on such person’s
part, including but not limited to the exercise of any power or discretion given to such member under this Plan, except for those acts or omissions resulting from such member’s gross negligence or willful misconduct. The Company shall indemnify
each present and future person constituting, or member of the group constituting, the Board against, and each person or member of the group constituting the Board shall be entitled without further act on his or her part to indemnity from the Company
for, all expenses (including the amount of judgments and the amount of approved settlements made with a view to the curtailment of costs of litigation) reasonably incurred by such person in connection with or arising out of any action, suit or
proceeding to the fullest extent permitted by law and by the Charter and Bylaws of the Company. 
 6.11. The Company shall have the right to
deduct from any payment to be made to a Participant, or to otherwise require, prior to the payment of any cash hereunder, payment by the Participant of, any federal, state or local taxes required by law to be withheld. In addition, on the occurrence
of any event with respect to any Eligible Cash Compensation deferred pursuant to this Plan that requires the Company to withhold taxes, the Participant shall make arrangements satisfactory to the Company whereby such taxes may be paid. 

  
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 6.12. The Board may at any time amend, suspend or discontinue this Plan, provided that such
amendment, suspension or discontinuance meets the requirements of Applicable Laws, including without limitation, any applicable requirements for stockholder approval. Notwithstanding the above, an amendment, suspension or discontinuation shall not
be made if it would substantially impair the rights of any Participant under any Benefits previously granted in connection with a deferral of Eligible Cash Compensation elected by a Participant pursuant to this Plan, without the Participant’s
consent, except to conform this Plan and any Benefits granted in connection with this Plan to the requirements of Applicable Laws. 
 6.13.
Claims and Appeals. 
 (a) Claims Procedure. The Participant or any other person who believes he or she is entitled to any
payment under the Plan may submit a claim in writing to the Board within ninety (90) calendar days of the earlier of (i) the date the claimant learned the amount of his benefits under the Plan or (ii) the date the claimant learned
that he or she will not be entitled to any benefits under the Plan. If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the
Plan on which the denial is based. The notice also will describe any additional information needed to support the claim and the Plan’s procedures for appealing the denial. The denial notice will be provided within ninety (90) calendar days
after the claim is received. If special circumstances require an extension of time (up to ninety (90) calendar days), written notice of the extension will be given within the initial ninety (90) day period. This notice of extension will
indicate the special circumstances requiring the extension of time and the date by which the Board expects to render its decision on the claim. 

(b) Appeal Procedure. If the claimant’s claim is denied, the claimant (or his authorized representative) may apply in writing to
the Board for a review of the decision denying the claim. Review must be requested within sixty (60) calendar days following the date the claimant received the written notice of their claim denial or else the claimant loses the right to review.
The claimant (or representative) then has the right to review and obtain copies of all documents and other information relevant to the claim, upon request and at no charge, and to submit issues and comments in writing. The Board will provide written
notice of its decision on review within sixty (60) calendar days after it receives a review request. If additional time (up to sixty (60) calendar days) is needed to review the request, the claimant (or representative) will be given
written notice of the reason for the delay. This notice of extension will indicate the special circumstances requiring the extension of time and the date by which the Board expects to render its decision. If the claim is denied (in full or in part),
the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based. The notice also will include a statement that the claimant will be provided, upon
request and free of charge, reasonable access to, and copies of, all documents and other information relevant to the claim and a statement regarding the claimant’s right to bring an action under Applicable Law. 

  
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 ARTICLE VII: SECTION 409A 

7.1. Although the Company does not guarantee the particular tax treatment of any Benefits in connection with a deferral of Eligible Cash
Compensation under the Plan, such Benefits are intended to comply with, or be exempt from, the applicable requirements of Section 409A and the Plan and any Election made hereunder shall be limited, construed and interpreted in accordance with
such intent. In no event whatsoever shall the Company or any of its affiliates be liable for any additional tax, interest or penalties that may be imposed on a Participant by Section 409A or any damages for failing to comply with
Section 409A. 
 7.2. Notwithstanding anything in the Plan or in an Election to the contrary, the following provisions shall apply to
any Benefits in connection with a deferral of Eligible Cash Compensation under the Plan that constitute “non-qualified deferred compensation” pursuant to Section 409A. A termination of service
shall not be deemed to have occurred for purposes of any provision of this Plan or an Election providing for payment upon or following a termination of the Participant’s service unless such termination is also a “separation from
service” within the meaning of Section 409A and, for purposes of any such provision, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”
Notwithstanding any provision to the contrary in the Plan or the Election, if the Participant is deemed on the date of the Participant’s termination to be a “specified employee” within the meaning of that term under
Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology set forth in Section 409A, then with regard to any payment due upon a
“separation from service,” to the extent required to be delayed in compliance with Section 409A(a)(2)(B) of the Code, such payment shall not be made prior to the earlier of (i) the expiration of the six (6)-month period measured
from the date of the Participant’s “separation from service,” and (ii) the date of the Participant’s death. All payments delayed pursuant to this Section 7.2 shall be paid to the Participant on the first day of the
seventh month following the date of the Participant’s “separation from service” or, if earlier, on the date of the Participant’s death. Whenever an Election specifies a payment period without reference to a particular date, the
actual date of payment within the specified period shall be within the sole discretion of the Company. 

*    *    *    * 

  
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 To record the adoption of the Plan, the Company has caused its authorized officer to execute the same,
effective as of the 21st day of December, 2018. 
  

			
	REGENEREX, INC.
		
	By:	 	/s/ Scott Requadt
	Name:	 	Scott Requadt
	Its:	 	Chief Executive Officer

  
 8Exhibit 10.1 

 

SEPARATION AGREEMENT WITH
WAIVER AND RELEASE

 

This Separation
Agreement with Waiver and Release (“Agreement”) is executed this 13th day of April, 2021 by and between
Willdan Group, Inc., a Delaware corporation (the “Company”) and Stacy McLaughlin, an individual (“Executive”).

 

WHEREAS, Executive
and the Company (collectively, the “Parties”) desire to amicably resolve and conclude any issues related to the termination
of Executive’s employment with the Company;

 

THEREFORE, the
Parties agree as follows:

 

1.1.      
Separation Date. The Parties acknowledge that Executive’s employment with the Company will terminate on April 16,
2021 (the “Separation Date”) on the terms and conditions set forth in this Agreement. Effective on the Separation Date,
Executive shall resign from all positions with the Company’s affiliates and this Agreement shall provide sufficient notice of such
resignations.

 

1.2.      
Consulting. For a period of six (6) months following the Separation Date, Executive shall provide the Company with transition
assistance in the capacity of a consultant (the “Consulting Period”). During the Consulting Period, Executive shall
retain access to her Company email for such services but shall not hold herself out as an employee of the Company. The payments provided
herein shall constitute sufficient consideration for the consulting services.

 

2.            
Termination Benefits. The Company shall pay Executive (or in the event of Executive’s death, Executive’s estate)
the following:

 

2.1.      
The sum of $300,013.78, subject to tax withholdings and other authorized deductions, which is Executive’s current annual base salary,
payable in equal installments in accordance with the Company’s standard payroll schedule over a period of fifteen (15) consecutive
months, or until Executive commences full time comparable employment elsewhere, if earlier, with the first installment concurrent with
the Company’s next regular payroll date following Executive’s execution of this Agreement, subject to Section 19 hereof.

 

2.2.      
The sum of $5,000.00, on account of legal fees incurred by Executive in connection with the negotiation and drafting of this Agreement,
payable by wire directly to Outten & Golden LLP within fifteen (15) days following Executive’s execution of this Agreement.
Outten & Golden LLP shall provide the Company with W9 for this payment, and the Company will provide Executive and Outten & Golden
LLP with a Form 1099.

 

2.3.      
The Company shall pay directly for Executive’s premiums charged to continue medical coverage pursuant to the Consolidated Omnibus
Budget Reconciliation Act (“COBRA”), at the same or reasonable equivalent medical coverage as in effect immediately prior
to the Separation Date, for up to fifteen (15) months after the Separation Date, or until Executive becomes covered under a new employer’s
benefits, if earlier.

 

2.4.      
Pursuant to Section 3.2(f) of the Willdan Group, Inc. Amended and Restated 2008 Performance Incentive Plan (the “Plan”),
and notwithstanding anything to the contrary in any Performance-Based Restricted Stock Unit Grant between Executive and the Company, the
Administrator (as that term is defined in the Plan) will accelerate the vesting of all of Executive’s outstanding Performance-Based
Restricted Stock Units at target, such that all of Executive’s Performance-Based Restricted Stock Units shall be fully vested upon
the Separation Date. The Parties hereby agree that Executive’s outstanding stock options granted under the Plan are all fully vested
and exercisable as of the date hereof.

 

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2.5.      
The foregoing provisions of this Section 2 shall not affect Executive’s receipt of benefits otherwise due terminated employees under
group insurance coverage consistent with the terms of the applicable Company welfare benefit plan or Executive’s receipt of benefits
in accordance with the terms of the Company’s 401(k) Plan.

 

3.            
Release of Claims.

 

3.1.      
In consideration of the benefits set forth in this Agreement, Executive on her own behalf and on behalf of her descendants, dependents,
heirs, executors, administrators, assigns and successors, and each of them in their capacity as such, hereby acknowledges full and complete
satisfaction of and releases and discharges and covenants not to sue the Company, its divisions, subsidiaries, parents, or affiliated
corporations, past and present, and each of them, as well as its and their assignees, successors, directors, officers, stockholders, partners,
representatives, attorneys, agents or employees, past or present, or any of them, each in their capacity as such (individually and collectively,
 “Releasees”), from and with respect to any and all claims, agreements, obligations, demands and causes of action, known
or unknown, suspected or unsuspected, arising out of or in any way connected with Executive’s employment or any other relationship
with or interest in the Company or the termination thereof, including without limiting the generality of the foregoing, any claim for
severance pay, profit sharing, bonus or similar benefit, equity-based compensation, pension, retirement, life insurance, health or medical
insurance or any other fringe benefit, or disability, or any other claims, agreements, obligations, demands and causes of action, known
or unknown, suspected or unsuspected resulting from any act or omission by or on the part of Releasees committed or omitted prior to the
date of this Agreement, including, without limiting the generality of the foregoing, any claim under Title VII of the Civil Rights Act
of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, or any other federal, state or local law, regulation or
ordinance (collectively, the “Claims”); provided, however, that nothing in this release is intended to release or waive
rights: (a) that cannot be released as a matter of law, including, without limitation, any rights to COBRA, workers’ compensation,
or unemployment insurance benefits; (b) to accrued, vested benefits under any employee benefit, stock, savings, insurance, retirement
or pension plan of the Company; (c) arising after the Effective Date, including the right to enforce this Agreement; or (d) any rights
to indemnification, contribution, advancement or defense pursuant to and in accordance with the Company’s by-laws, articles of incorporation,
operating agreements, any liability insurance policy maintained by the Company, or applicable law.

 

3.2.      
The Company, on behalf of itself and the Releasees, irrevocably and unconditionally releases, waives, and forever discharges Executive
from any and all claims, demands, actions, causes of action, costs, fees, and all liability whatsoever, whether known or unknown, fixed
or contingent, that it and/or they have, had, or may have against Executive, up to and including the date each party executes this Agreement.
This release includes, without limitation, claims at law or equity or sounding in contract (express or implied) or tort, claims arising
under any federal, state, county, international or local laws, of any jurisdiction. Nothing herein is intended to prevent the Releasees
from enforcing this Agreement and nothing herein waives any of Releasees' claims that arise after the date the Company executes this Agreement
or for any claims related to fraudulent conduct on behalf of Executive of which the Company is not currently aware.

 

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3.3.      
The Parties hereby expressly waive any and all rights or benefits conferred by the provisions of section 1542 of the California Civil
Code and expressly consent that this Agreement shall be given full force and effect according to each and all of its express terms and
conditions, including those relating to unknown and unsuspected claims, demands and causes of action, if any, as well as those relating
to any other claims, demands and causes of action hereinabove specified. Section 1542, waived by the Parties herein, provides:

 

“A GENERAL RELEASE
DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, AND THAT IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

 

Executive acknowledges that she later may discover
claims, demands, causes of action or facts in addition to or different from those which Executive now knows or believes to exist with
respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially
affected its terms.  Nevertheless, Executive hereby waives, as to the Claims, any claims, demands, and causes of action that
might arise as a result of such different or additional claims, demands, causes of action or facts.

 

4.            
Company Property; Confidential Information.

 

4.1.      
Following the Separation Date, Executive may retain the Company-issued iPhone and associated phone number and the Company-issued iPad
(the “Retained Devices”); provided, Executive shall remove any of the Company’s proprietary information from
the Retained Devices.

 

4.2.      
Subject to Section 4.1, on the Separation Date, Employee shall return all company property to Employer. Notwithstanding anything to the
contrary in this Agreement, Executive may retain Executive’s contact lists, whether in electronic or paper form (e.g. rolodex, Outlook
contacts, etc.) and copies of documents related to Executive’s compensation and benefits.

 

5.           
Permitted Disclosures/Defend Trade Secrets Act. Nothing in this Agreement, any other agreement between Executive and the
Company, or any other policies of the Company shall prohibit or restrict Executive or Executive’s attorneys from: (a) making any
disclosure of relevant and necessary information or documents in any action, investigation, or proceeding relating to this Agreement,
or as required by law or legal process, including with respect to possible violations of the law; (b) participating, cooperating, or testifying
in any action, investigation, or proceeding with, or providing information to, any governmental agency or legislative body, any self-regulatory
organization, and/or pursuant to the Sarbanes-Oxley Act; or (c) accepting any U.S. Securities and Exchange Commission awards. Notwithstanding
any preexisting obligations with respect to the Company’s confidential information, pursuant to the federal Defend Trade Secrets
Act, Executive cannot be held criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret if
that disclosure is made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to any
attorney, and for the sole purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document
filed in a lawsuit or similar proceeding, provided that filing is made under seal.

 

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6.               Non-Disparagement.

 

  6.1.      
Executive agrees that she will not disparage the Company by making intentionally false or injurious statements (oral or written) to the
press or media, on social media, to the Company’s current or former employees, or to the Company’s clients, investors, referral
sources or other business partners that discredit or detract from the reputation of the Company. Likewise, the Company, on behalf of its
board members, executives and employees with ability to speak on the matter, agrees to refrain from disparaging Executive by making intentionally
false or injurious statements (oral or written) to the press or media, on social media, to Employer’s current or former employees,
to Employer’s clients, investors, or to Executive’s referral sources or other business partners or to Executive’s employers,
potential employers, clients, investors, referral source or other business partners, that discredit or detract from the reputation of
Executive. Notwithstanding the foregoing, nothing herein will prohibit either party from responding truthfully to defamatory statements
made by the other.

 

  6.2.      
The Company will respond to any inquiry by a prospective employer of Executive by referring all inquiries to the Chief Executive Officer,
who will provide a positive reference. The Company will not contest any application Executive may make for unemployment insurance benefits
and will respond truthfully to any inquiries from any governmental agency concerning Executive.

 

  6.3.      
If asked by any third parties about Executive’s employment with the Company, Executive may respond that she voluntarily resigned
from employment with the Company. If specifically asked, the Company will confirm that Executive resigned from the Company.

 

7.               No
Transferred Claims. Executive represents and warrants to the Company that she has not heretofore assigned or transferred to any
person not a party to this Agreement any released matter or any part or portion thereof.

 

8.               No
Wrongdoing. This Agreement shall not be offered or received in evidence in this or any other action or proceeding as an admission
or conclusion of liability or wrongdoing of any nature by either Executive or the Company.

 

9.               Successors;
Assigns. This Agreement is binding upon, and shall inure to the benefit of, the parties’ respective successors, assigns,
administrators and legal representatives, and Executive’s heirs, executors. Without limiting the generality of the preceding sentence,
the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform it if no such succession had taken place.  As used in this Agreement,
 “Company” shall mean the Company as hereinbefore defined and any successor or assignee, as applicable, which assumes and
agrees to perform this Agreement by operation of law or otherwise.

 

10.             Withholding
Taxes.  Notwithstanding anything herein to the contrary, the Company may withhold (or cause there to be withheld, as the
case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such federal, state and local income, employment,
or other taxes as may be required to be withheld pursuant to any applicable law or regulation.

 

11.             Section Headings;
Number and Gender. The section headings of, and titles of paragraphs and subparagraphs contained in this Agreement are for the
purpose of convenience only, and they neither form a part of this Agreement nor are they to be used in the construction or interpretation
thereof.  As used herein, where the context requires, the singular shall include the plural, the plural shall include the singular,
and any gender shall include all other genders.

 

    	 	4	 

     

    

 

12.             Governing
Law. This Agreement shall be governed by and construed under the laws of the State of California without reference to its conflicts
of laws provisions. Jurisdiction and venue of any action pertaining to this Agreement shall be in Orange County, California.

 

13.             Entire
Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the matters within its scope and
supersedes any other agreement or understanding with respect to such
matters. The Company and Executive acknowledge that the other
party has not made, and in executing this agreement, neither has relied upon, any representations, promises or inducements, except to
the extent that the same are expressly set forth in this Agreement.

 

14.             Severability.
If any provision of this Agreement is found by a court of competent jurisdiction to be void or unenforceable, then such provision
shall be severed, and all other provisions of this Agreement shall remain in full force and effect.

 

15.             Modification. 
This Agreement may not be amended, modified or changed, in whole or in part, except by a formal, definitive written agreement expressly
referring to this Agreement, which agreement is executed by both of the parties hereto

 

16.             Waiver.  Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege
preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy,
power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any
other occurrence.  No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such
waiver.

 

17.             Mediation. 
Any controversy arising out of or relating to this Agreement, the enforcement or interpretation of any of this Agreement, or because
of an alleged breach, default, or misrepresentation in connection with any of the provisions of any this Agreement, including (without
limitation) any state or federal statutory claims, shall be submitted to mediation in Orange County, California, before a mediator selected
from Judicial Arbitration and Mediation Services, Inc. or its successor (“ JAMS ”), or if JAMS is no longer able
to supply the mediator, such mediator shall be selected from the American Arbitration Association; provided, however, that provisional
injunctive relief may, but need not, be sought in a court of law while mediation is pending.  All matters not resolved by mediation
may be litigated.  The parties agree that Company shall be responsible for payment of the forum costs of any mediation hereunder,
including the mediator’s fee. The prevailing party in any dispute shall be entitled to an award of costs and fees.

 

18.             Counterparts. 
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument.  This Agreement shall become binding when
one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as
the signatories (the “Effective Date”).  Electronic means of signature such as Docusign may be used, and photographic
copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

    	 	5	 

     

    

 

19.           Section 409A.

 

19.1.   Notwithstanding
anything contained in this Agreement to the contrary, the parties intend that this Agreement shall comply with Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”) and this Agreement shall be interpreted in a manner consistent with such intent.
If any provision of this Agreement (or of any award of compensation due to you under this Agreement) would cause Executive to incur any
additional tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated thereunder, the Company
shall modify this Agreement to make it compliant with Section 409A and maintain the value of the payments and benefits under this Agreement.

 

19.2.   If Executive
is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of Executive’s
Separation from Service, Executive shall not be entitled to any payment or benefit pursuant to this Agreement until the earlier of (i)
the date which is six (6) months after her Separation from Service for any reason other than death, or (ii) the date of Executive’s
death. The provisions of this Section 19.2 shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty
or interest pursuant to Code Section 409A. Any amounts otherwise payable to Executive upon or in the six (6) month period following
Executive’s Separation from Service that are not so paid by reason of this Section 19.2 (a “Delayed Payment”)
shall be paid (without interest) as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months
after Executive’s Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after
the date of Executive’s death).

 

19.3.   For purposes
of Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to
receive a series of separate and distinct payments. For purposes of any payments to be made or benefits to be provided under this Agreement
to which Section 409A applies, the terms “separation” and “termination” and the Separation Date shall have the
same meaning as “separation from service” under Section 409A.

 

19.4.   To the extent that any benefits are
taxable to Executive, any reimbursement payment due to Executive pursuant to such provision shall be paid to Executive on or before the
last day of Executive’s taxable year following the taxable year in which the related expense was incurred.  The benefits pursuant
to such sections are not subject to liquidation or exchange for another benefit and the amount of such benefits that Executive receives
in one taxable year shall not affect the amount of such benefits that Executive receives in any other taxable year.

 

20.          
Legal Counsel; Mutual Drafting.  Each party recognizes that this is a legally binding contract and acknowledges and
agrees that they have had the opportunity to consult with legal counsel of their choice.  Each party has cooperated in the drafting,
negotiation and preparation of this Agreement.  Hence, in any construction to be made of this Agreement, the same shall not be construed
against either party on the basis of that party being the drafter of such language.  Executive agrees and acknowledges that she has
read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering
into this Agreement and has had ample opportunity to do so.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	6	 

     

    

 

IN WITNESS WHEREOF, Company and Executive have executed this
Agreement as of the Effective Date.

 

	/s/
    Thomas D. Brisbin	 	4/13/2021
	Willdan
    Group, Inc.	 	Date
	By:
    Thomas D. Brisbin, Chief Executive Officer	 	 
	 	 	 
	 	 	 
	/s/
    Stacy McLaughlin	 	4/13/2021
	Stacy
    McLaughlin	 	Date

 

    	 	7

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