Document:

EXHIBIT 10.1

    

    

    Form of Amendment No. 3 to Jeffrey D. Pribor’s Employment Agreement

    

    

    This Amendment No. 3 (the “Amendment”),
      dated as of March 16, 2021 (the “Effective Date”), is between International Seaways, Inc. (the “Company”) and Jeffrey D. Pribor (the “Executive”).

    WHEREAS, the
      Company and the Executive previously entered into an employment agreement, dated November 9, 2016, as amended as of April 5, 2019 and April 2, 2020 (the “Employment
          Agreement”).

    WHEREAS, the
      Company and the Executive wish to amend the Employment Agreement in accordance with Section 13(c) thereof.

    NOW, THEREFORE,
      in consideration of the premises and mutual covenants herein and for other good and valuable consideration, conditioned and effective upon the occurrence of the Closing and the Assignment, the parties agree as follows:

    
      	
              1.

            	
              Section 3(a) is hereby amended by replacing “$510,000” with “$530,000”.

            

    

    
      	
              2.

            	
              Except as provided herein, the terms and conditions of the Employment Agreement shall remain in full force and effect and shall
                be binding on the Company.

            

    

    
      	
              3.

            	
              This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an
                original, but all of which shall constitute one and the same instrument.

            

    

     [Signature Page Follows]

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of the date first
      written above.

    	 	
            Jeffrey D. Pribor

          
	 	 
	 	 
	 	 
	 	 
	 	
            International Seaways, Inc.

          
	 	 
	 	 
	 	 
	 	
            Name:  Lois K. Zabrocky

          
	 	
            Title:  President and Chief Executive OfficerEXHIBIT 10.2

    

    

    Form of Amendment No. 5 to Adewale Oshodi’s Employment Agreement

    

    

    This Amendment No. 5 (the “Amendment”),
      dated as of March 16, 2021 (the “Effective Date”), is between International Seaways, Inc. (the “Company”) and Adewale O. Oshodi (the “Executive”).

    WHEREAS,
      Overseas Shipholding Group, Inc. (“OSG”) and the Executive previously entered into an employment agreement, dated September 29, 2014 and as amended as of March
      2, 2015, which was assumed by the Company and subsequently further amended as of November 7, 2017, April 5, 2019 and April 2, 2020 (the “Employment Agreement”).

    WHEREAS, the
      Employment Agreement was assigned to the Company on November 30, 2016 in connection with the spin-off of the Company from OSG (the “Assignment”).

    WHEREAS,
      pursuant to Section 13(g) of the Employment Agreement, following the Assignment, references to “the Company” in the Employment Agreement constitute a reference to the Company (rather than to OSG).

    WHEREAS, the
      Company and the Executive wish to amend the Employment Agreement in accordance with Section 13(c) thereof.

    NOW, THEREFORE,
      in consideration of the premises and mutual covenants herein and for other good and valuable consideration, conditioned and effective upon the occurrence of the Closing and the Assignment, the parties agree as follows:

    
      	
              1.

            	
              Section 3(a) is hereby amended by replacing “$268,785” with “$276,848”.

            

    

    
      	
              2.

            	
              Except as provided herein, the terms and conditions of the Employment Agreement shall remain in full force and effect and shall
                be binding on the Company in the same manner and to the same extent as on OSG if no assignment to the Company had taken place.

            

    

    
      	
              3.

            	
              This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an
                original, but all of which shall constitute one and the same instrument.

            

    

     [Signature Page Follows]

    
      
        

    

    

    

    IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of the date first
      written above.

    	 	
            Adewale O. Oshodi

          
	 	 
	 	 
	 	 
	 	 
	 	
            International Seaways, Inc.

          
	 	 
	 	 
	 	 
	 	
            Name: Lois K. Zabrocky

          
	 	
            Title:  President and Chief Executive OfficerExhibit 10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS Executive
Employment Agreement (“Agreement”) is made and entered into as of March 16, 2021 (the “Effective Date”),
by and between Rubicon Technology, Inc., a Delaware corporation (the “Company”), and Kevin Lusardi, a resident
of the State of Connecticut (the “Executive”).

 

PRELIMINARY
STATEMENTS

 

The
Company is in the business of (i) providing material science solutions of sapphire and other advanced technology materials for
the Opto-electrics Semiconductor Fabrication, Optical and Laser and Telecommunications Marketplaces and (ii) Pharmacy services
(collectively, the “Company’s Business”); provided, however, the term shall be deemed amended to
reflect any actual change in the Company’s Business after the date hereof but prior to the day following the date on which Executive
shall cease to be employed by the Company (as reflected in the minutes of the Board of Directors of the Company prior to the Termination
Date (as defined below) or the Resignation Date (as defined below), as applicable).

 

As
a result of Executive’s previous consulting work, the Executive is well acquainted with the affairs of the Company and its personnel,
services, products, and business practices and relationships and other Confidential Information (as defined in Section 5
below). This Agreement is entered into for, among other things, the protection of the Company’s business relationships, goodwill
and going business value and the prevention of the unauthorized use or disclosure of any Confidential Information by the Executive.

 

Capitalized
terms used therein, but not otherwise defined, shall have the meanings ascribed to such terms in the Company’s 2016 Stock Incentive
Plan, as amended (the “Plan”).

 

AGREEMENT

 

In consideration
of the premises and the mutual promises and covenants contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties here to agree as follows:

 

Section 1. Employment
and Duties.

 

(a)
Employment Duties. Throughout the Employment Term (as defined in Section 2 below), the Executive shall serve as the
CFO and Secretary of the Company, and shall report to the President and Chief Executive Officer of the Company (the “CEO”).
Throughout the Employment Term, the Executive shall: (i) devote his working hours, on a full-time basis, to his duties and responsibilities
to the Company; (ii) faithfully and loyally serve the Company; (iii) comply in all material respects with all lawful directions
and instructions given to his by the CEO and the Board of Directors (the “Board”); and (iv) use his best efforts
to promote and serve the interests of the Company. The Executive shall comply in all material respects with all applicable laws,
rules and regulations relating to the performance of the Executive’s duties and responsibilities hereunder.

 

     

     

    

 

(b)
Exclusive Employment. Throughout the Employment Term, the Executive shall not render his services, directly or indirectly,
to any person or entity other than the Company without the prior consent of the Board, which may be withheld or granted by the
Board in its sole discretion. The Executive shall not engage in any activity which would materially interfere with the faithful
and timely performance of his duties under this Agreement; provided however, the Executive may, subject to the prior consent of
the Board, which shall not be unreasonably withheld, serve as a director of any other company, so long as such service does not
unreasonably and materially interfere with the timely performance of the Executive’s duties under this Agreement.

 

Section
2. Employment Term. The Executive’s employment as the Chief Financial Officer and Secretary shall commence on March 17,
2021 and shall continue hereafter unless and until his employment is terminated pursuant to the terms of this Agreement. As used
therein, “Employment Term” shall mean the actual period of time during which the Executive is employed by the
Company under the terms and conditions of this Agreement.

 

Section
3. Compensation and Other Benefits. During the Employment Term, the Company shall pay and provide the following compensation
and other benefits to the Executive as full compensation for all services rendered by the Executive to the Company:

 

(a)
Annual Salary. The Executive’s annual salary shall be One Hundred Seventy Thousand Dollars ($170,000) (the “Annual
Salary”) commencing on March 17, 2021. The Annual Salary shall be paid in accordance with the then-prevailing payroll practices
of the Company, less applicable taxes, payroll deductions and withholdings required by law. The Board shall review the Annual
Salary on an annual basis and make appropriate adjustments thereto from time to time; provided that the Annual Salary shall not
be reduced below $170,000 without the Executive’s prior written consent.

 

(b)
Other Compensation and Bonuses.

 

(i)
The Executive shall be paid a fixed cash payment of (A) Five Thousand ($5,000.00) in the first payroll period following each of
the Company’s filing with the Securities and Exchange Commission (the “SEC”) of its Report on Form 10-Q and
(B) Ten Thousand Dollars ($10,000.00) in the first payroll period following the later of the Company’s (x) filing with the
SEC of its Report on Form 10-K and (y) holding of its Annual Meeting of Stockholders. For the avoidance of doubt, in order for
the Executive to earn the cash payment set forth in Section 3(b)(i)(B), he must fulfil both the requirements set forth in (x)
and (y) above. In addition, every year Employee is eligible to receive an objective bonus based upon criteria determined by the
Board. The Employee must be an employee of the Company in good standing on the date that such bonus is to be paid. Each such cash
payments and bonuses, if paid, shall be subject to applicable taxes, payroll deductions, and withholdings required by law.

 

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(d)
Employee Benefit Plans. The Executive shall be eligible to participate in all employee benefit plans offered by the Company,
but participation shall be subject to all of the terms and conditions of such plans applicable to all such employees, including
all waiting periods, eligibility requirements, contributions, exclusions and other similar conditions or limitations.

 

(e)
Vacation. The Executive shall be entitled to accrue fifteen (15) vacation days per calendar year, which vacation days shall
accrue proportionately throughout the year based on completed months of service. Any unused vacation in excess of 50% of the annual
entitled vacation days shall not be carried forward from one calendar year to the next.

 

(f)
Other Expenses. The Company shall reimburse the Executive for all reasonable and ordinary out-of-pocket business expenses
incurred by the Executive in the scope of his employment hereunder. The Executive shall submit itemized expense reports in order
to obtain reimbursement of expenses and shall submit with such expense reports such records and logs as may be required by the
relevant taxing authorities for the substantiation of each such business expense as a deduction on the Company’s income tax returns.

 

Section
4. Termination of Employment. (a) Other than what is explicitly set forth in this Agreement, the Executive shall be an at
will employee.

 

(b)
Death. If the Executive dies, his employment with the Company and this Agreement shall automatically terminate on the date
of his death. The Executive’s estate or personal representative shall be entitled to receive that portion of the Annual Salary
that the Executive earned through and including the date of the Executive’s death, at the rate of the Annual Salary in effect at
that time, any Termination Vacation Pay and any bonus earned prior to the date of the Executive’s death that remains unpaid. Except
as provided therein or required by applicable law, neither the Executive’s estate nor his personal representative shall be entitled
to any other compensation or benefits.

 

(c)
Savings Clause. This paragraph shall apply for so long as the Executive is a “specified employee” for purposes
of Section 409A of the Code. The determination of whether the Executive is a “specified employee” shall be made in accordance
with the policy of the Company or, if none, under the default rules in Section 1.409A-1 (i) of the Treasury Regulations. Any amount
otherwise payable to the Executive on account of the Executive’s separation from service as defined in Section 1.409A-1(h) of the
Treasury Regulations that exceeds the limit provided in Section 1.409A-1 (b)(9)(iii) of the Treasury Regulations shall not be paid
before the date which is six (6) months and a day after the date of the Executive’s separation from service (or, if earlier, the
date of the Executive’s death). Upon the expiration of the six-month deferral period referred to in the preceding sentence or the
Executive’s death, all payments deferred pursuant to the preceding sentence shall be paid to the Executive (or the Executive’s
estate in the event of the Executives death) in a lump sum.

 

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Section 5. Confidentiality.
For purposes of this Section 5, the term “Company” shall include, in addition to the Company, its affiliates,
subsidiaries and any of their respective predecessors, successors and assigns.

 

(a)
Confidential Information. As used in this Agreement, “Confidential Information” means any and all confidential,
proprietary or other information, whether or not originated by the Executive or the Company, which is in any way related to the
past or present Company’s Business and is either designated as confidential or not generally known by or available to the public.
Confidential Information includes, but is not limited to (whether or not reduced to writing or designated as confidential) (i)
information regarding the Company’s existing and potential customers and vendors; (ii) any contracts (including the existence and
contents thereof and parties thereto) to which the Company is a party or is bound; (iii) information regarding products and services
being purchased or leased by or provided to the Company; (iv) information received by the Company from third parties under an obligation
of confidentiality, restricted disclosure or restricted use; (v) personnel and financial information of the Company; (vi) information
with respect to the Company’s products, services, facilities, business methods, systems, trade secrets, technical know-how, and
other intellectual property; (vii) marketing and developmental plans and techniques, price and cost data, forecasts and forecast
assumptions, and potential strategies of the Company; and (viii) any other information relating to the Company which was obtained
by the Executive in connection with his employment by the Company, whether before, on or after the Effective Date.

 

(b)
Non-Disclosure and Non-Use of Confidential Information. The Executive acknowledges that the Confidential Information of
the Company is a valuable, unique asset of the Company and the Executive’s unauthorized use or disclosure thereof could cause irreparable
harm to the Company for which no remedy at law could be adequate. Accordingly, the Executive agrees that she shall hold all Confidential
Information of the Company in strict confidence and solely for the benefit of the Company, and that, except as necessary in the
course of Executive’s duties as an employee of the Company, she shall not, directly or indirectly, disclose or use or authorize
any third party to disclose or use any Confidential Information. The Executive shall follow all the Company policies and procedures
to protect all Confidential Information and take any additional precautions necessary to preserve and protect the use or disclosure
of any Confidential Information at all times.

 

(c)
Ownership of Confidential Information. The Executive acknowledges and agrees that all Confidential Information is and shall
remain the exclusive property of the Company, whether or not prepared in whole or in part by the Executive and whether or not disclosed
to or entrusted to the custody of the Executive. Upon the termination or resignation of his employment by the Company, or at any
other time at the request of the Company, the Executive shall promptly deliver to the Company all documents, tapes, disks, or other
storage media and any other materials, and all copies thereof in whatever form, in the possession of the Executive pertaining to
the Company’s Business, including, but not limited to, any containing Confidential Information.

 

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(d)
Public Information. Notwithstanding anything contained in this Agreement to the contrary, information which is generally
available or accessible to the public shall be deemed Confidential Information of the Company if such information was retrieved,
gathered, assembled or maintained by the Company in such a manner not available to the public or for a purpose beneficial to the
Company. From time to time, the Company may, for its own benefit, choose to place certain Confidential Information or records of
the Company in the public domain. Notwithstanding anything contained in this Agreement to the contrary, the fact that such Confidential
Information may be made available to the public in a limited form and under limited circumstances does not change the confidential
and proprietary nature of such information, and does not release the Executive from his duties with respect to such Confidential
Information as set forth in this Agreement.

 

(e)
Survival. The Executive’s obligations set forth in this Section 5 and the Company’s rights and remedies with respect
hereto, shall indefinitely survive the termination of this Agreement and the Executive’s employment by the Company, regardless
of the reason therefor.

 

Section
6. Restrictive Covenants. For purposes of this Section 6, the term “Company” shall include, in addition
to the Company, its affiliates, subsidiaries and any of their respective predecessors, successors and assigns.

 

(a)
Non-Competition. The Executive shall not, during the Restricted Period and within the Restricted Area (each as defined in
subsection (c) below), directly or indirectly, perform on behalf of any Competitor (as defined in subsection (c) below) the same
or similar services as those that Executive performed for the Company during the Executive’s employment by the Company or otherwise.
In addition, the Executive shall not, during the Restricted Period or within the Restricted Area, directly or indirectly engage
in, own, manage, operate, join, control, lend money or other assistance to, or participate in or be connected with (as an officer,
director, member, manager, partner, shareholder, consultant, employee, agent, or otherwise), any Competitor.

 

(b)
Non-Solicitation. During the Restricted Period, the Executive shall not, directly or indirectly, for his self or on behalf
of any Person (as defined in subsection (c) below), (i) solicit or attempt to solicit any Customers (as defined in subsection (c)
below), or prospective Customers, with whom the Executive had contact at any time during the Executive’s employment by the Company,
or about whom the Executive learned Confidential Information; (ii) divert or attempt to divert any business of the Company to any
other Person; (iii) solicit or attempt to solicit for employment, endeavor to entice away from the Company, recruit, hire, or otherwise
interfere with the Company’s relationship with, any Person who is employed by or otherwise engaged to perform services for the
Company (or was employed or otherwise engaged to perform services for the Company, as of any given time, within the immediately
preceding twenty-four (24) month period); (iv) cause or assist, or attempt to cause or assist, any employee or other service provider
to leave the Company; or (v) otherwise interfere in any manner with the employment or business relationships of the Company or
the business or operations then being conducted by the Company.

 

(c)
Definitions. For purposes of this Section 6, the following definitions have the following meanings:

 

(i)
“Competitor” means any Person that engages in a business that is the same as, or similar to, the Company’s
Business.

 

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(ii)
“Customer” means any Person which, as of any given date, used or purchased or contracted to use or purchase
any services or products from the Company within the immediately preceding twenty-four (24) month period.

 

(iii)
“Person” means any individual, corporation, partnership, joint venture, association, limited liability company,
joint-stock company, trust, or unincorporated organization, or any governmental agency, officer, department, commission, board,
bureau, or instrumentality thereof.

 

(iv)
“Restricted Area” means, because the market for Company’s Business is global, or has the potential of
being global, and is not dependent upon the physical location or presence of the Company, the Executive, or any individual or
entity that may be in violation of this Agreement, the broadest geographic region enforceable by law (excluding any location where
this type of restriction is prohibited by law) as follows: (A) everywhere in the world that has access to Company’s Business
because of the availability of the Internet; (B) everywhere in the world that the Executive has the ability to compete with Company’s
Business through the Internet; (C) each state, commonwealth, territory, province and other political subdivision located in North
America; (D) each state, commonwealth, territory and other political subdivision of the United States of America; (E) any state
in which the Executive has performed any services for the Company; (F) any geographical area in which the Company has performed
any services or sold any products; (G) any geographical area in which the Company or any of its subsidiaries have engaged in Company’s
Business, which has resulted in aggregate sales revenues of at least $5,000 during any year in the five (5) year period immediately
preceding the commencement of the Restricted Period; (H) any state or other jurisdiction where the Company had an office at any
time during the Executive’s employment by the Company; (I) within one hundred (100) miles of any location in which the Company
had an office at any during the Executive’s employment by the Company; and (J) within one hundred (100) miles of any location
in which the Executive provided services for the Company.

 

(v)
“Restricted Period” means the period of time during the Executive’s employment by the Company plus a
period of twelve (12) months from the Termination Date or Resignation Date, as applicable. In the event of a breach of this Agreement
by the Executive, the Restricted Period will be extended automatically by the period of the breach.

 

(d)
Survival. The Executive’s obligations set forth in this Section 6, and the Company’s rights and remedies with respect
thereto, will remain in full force and effect during the Restricted Period and until full resolution of any dispute related to
the performance of the Executive’s obligations during the Restricted Period.

 

(e)
Public Company Exception. The prohibitions contained in this Section 6 do not prohibit the Executive’s ownership
of stock which is publicly traded, provided that (1) the investment is passive, (2) the Executive has no other involvement with
the company, (3) the Executive’s interest is less than five (5%) percent of the shares of the company, and (4) the Executive
makes full disclosure to the Company of the stock at the time that the Executive acquires the shares of stock.

 

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Section
7. Assignment of Inventions. Any and all inventions, improvements, discoveries, designs, works of authorship, concepts or
ideas, or expressions thereof, whether or not subject to patents, copyrights, trademarks or service mark protections, and whether
or not reduced to practice, that are conceived or developed by the Executive while employed with the Company and which relate to
or result from the actual or anticipated business, work, research or investigation of the Company (collectively, “Inventions”),
shall be the sole and exclusive property of the Company. The Executive shall do all things reasonably requested by the Company
to assign to and vest in the Company the entire right, title and interest to any such Inventions and to obtain full protection
therefor. Notwithstanding the foregoing, the provisions of this Agreement do not apply to an Invention for which no equipment,
supplies, facility, or Confidential Information of the Company was used and which was developed entirely on the Executive’s own
time, unless (a) the Invention relates (i) to Company’s Business, or (ii) to the Company’s actual or demonstrably anticipated research
or development, or (b) the Invention results from any work performed by the Executive for the Company.

 

Section 8. Reasonableness;
Remedies; Claims.

 

(a)
Reasonableness. The Executive has carefully considered the nature, extent and duration of the restrictions and obligations
contained in this Agreement, including, without limitation, the geographical coverage contained in Section 6 and the time
periods contained in Section 5 and Section 6 and acknowledges and agrees that such restrictions are fair and reasonable
in all respects to protect the legitimate interests of the Company and that these restrictions are designed for the reasonable
protection of Company’s Business.

 

(b)
Remedies. The Executive recognizes that any breach of this Agreement shall cause irreparable injury to the Company, inadequately
compensable in monetary damages. Accordingly, in addition to any other legal or equitable remedies that may be available to the
Company, the Executive agrees that the Company shall be able to seek and obtain injunctive relief in the form of a temporary restraining
order, preliminary injunction, or permanent injunction, in each case without notice or bond, against Executive to enforce this
Agreement. The Company shall not be required to demonstrate actual injury or damage to obtain injunctive relief from the courts.
To the extent that any damages are calculable resulting from the breach of this Agreement, the Company shall also be entitled to
recover damages, including, but not limited to, any lost profits of the Company and/or its affiliates or subsidiaries. For purposes
of this Agreement, lost profits of the Company shall be deemed to include all gross revenues resulting from any activity of the
Executive in violation of this Agreement and all such revenues shall be held in trust for the benefit of the Company. Any recovery
of damages by the Company shall be in addition to and not in lieu of the injunctive relief to which the Company is entitled. In
no event will a damage recovery be considered a penalty in liquidated damages. In addition, in any action at law or in equity arising
out of this Agreement, the prevailing party shall be entitled to recover, in addition to any damages caused by a breach of this
Agreement, all costs and expenses, including, but not limited to, reasonable attorneys’ fees, expenses, and court costs incurred
by such party in connection with such action or proceeding. Without limiting the Company’s rights under this Section 7(b)
or any other remedies of the Company, if a court of competent jurisdiction determines that the Executive breached any of the provisions
of Sections 5 or 6, the Company will have the right to cease making any payments or providing any benefits otherwise due
to the Executive under the terms and conditions of this Agreement.

 

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(c)
Claims by the Executive. The Executive acknowledges and agrees that any claim or cause of action by the Executive against
the Company shall not constitute a defense to the enforcement of the restrictions and covenants set forth in this Agreement and
shall not be used to prohibit injunctive relief.

 

Section
9. Non-assignability, Binding Agreement.

 

(a)
By the Executive. The Executive shall not assign, transfer or delegate this Agreement or any right, duty, obligation, or
interest under this Agreement without the Company’s prior written consent; provided, however, that nothing shall preclude
the Executive from designating beneficiaries to receive compensation or benefits, if any, payable under this Agreement upon his
death.

 

(b)
By the Company. The Company shall not assign, transfer or delegate this Agreement or any right, duty, obligation or intent
under this Agreement without the Executive’s prior written consent; provided, however, that the Company may assign this
Agreement and all of its rights and obligations hereunder to any person who or entity that shall acquire all or substantially
all of the assets and properties of the Company in a bona fide sale transaction.

 

(c)
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties, any successors or assigns
of the Company and the Executive’s heirs and the personal representative(s) or executor(s) of the Executive’s estate.

 

Section
10. Definitions. The following capitalized terms shall have, throughout this Agreement, the following meanings:

 

(a)
“Resignation Date” shall mean the date specified in the Resignation Notice, or the actual date the Executive
terminates employment with the Company as the result of a resignation as provided in whichever occurs earlier.

 

(b)
“Termination Date” shall mean the actual date the Executive ceases to be employed with the Company as a result
of action taken by the Company, and not as a result of Executive’s resignation from employment.

 

Section
11. Judicial Modification and Severability. Executive agrees that if a court of competent jurisdiction should determine
that any phrase or provision in this Agreement is invalid or unenforceable as written for any reason, the court shall modify and
enforce any such phrase or provision to the maximum extent reasonably necessary to protect the Company’s legitimate business
interests, so long as the modification does not render the phrase or provision more restrictive with regard to Executive than
originally drafted. Executive further agrees that if such modification of a phrase or provision that is invalid or unenforceable
as written is legally impossible, the Court shall sever any such phrase or provision from this Agreement, and that the enforceability
of all other provisions of this Agreement shall not be affected, but shall otherwise remain in full force and effect.

 

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Section
12. Amendment. This Agreement may not be modified, amended, or waived in any manner except by a written instrument signed
by both parties to this Agreement.

 

Section
13. Waiver. The waiver by any party of compliance by any other party with any provision of this Agreement shall not operate
or be construed as a waiver of any other provision of this Agreement (whether or not similar), or a continuing waiver or a waiver
of any subsequent breach by a party of a provision of this Agreement. Performance by any of the parties of any act not required
of it under the terms and conditions of this Agreement shall not constitute a waiver of the limitations on its obligations under
this Agreement, and no performance shall estop that party from asserting those limitations as to any further or future performance
of its obligations.

 

Section 14. Governing
Law and Forum. This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Connecticut,
without regard to principles of conflict of laws of such State. Any action to enforce this Agreement shall be brought solely in
the state or federal courts located in the City of Stamford or Bridgeport, Connecticut.

 

Section
15. Notices. All notices required or desired to be given under this Agreement shall be in writing and shall be deemed to
have been given if delivered in person and receipted for by the party to whom the notice is directed; mailed by certified or registered
United States mail postage prepaid, not later than the day upon which the notice is required to be given pursuant to this Agreement;
or delivered by expedited courier, shipping prepaid or mailed to sender, on the next business day, after the date on which it is
so sent, and addressed as follows:

 

	If to the Company, to:	
        Board of Directors

        Rubicon Technology, Inc.

        900 East Green
        Street, Unit A

        Bensenville, IL
60106 

	 	 
	If to the Executive, to:	Kevin Lusardi

 

Either
party may, by giving written notice to the other party, change the address to which notice shall then be sent.

 

Section
16. Prior Agreements. This Agreement is a complete and total integration of the understanding of the parties related to
the Executive’s employment with the Company and supersedes all prior or contemporaneous negotiations, commitments, agreements,
writings, and discussions with respect to the subject matter of this Agreement.

 

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Section
17. Headings. The headings of the sections of this Agreement are inserted solely for convenience of reference and shall
not be deemed to affect the meaning or interpretation of this Agreement.

 

Section
18. Counterparts. This Agreement may be executed in two (2) counterparts, each of which shall be deemed to be an original,
but both of which together shall constitute one and the same Agreement.

 

Section
19. Statutory and Common Law Duties. The duties the Executive owes to the Company under this Agreement shall be deemed to
include federal and state statutory and common law obligations of the Executive, and do not in any way supersede or limit any of
the obligations or duties the Executive owes to the Company. This Agreement is intended, among other things, to supplement the
provisions of the Illinois Uniform Trade Secrets Act, as enacted and amended from time to time.

 

Section 20.
Executive Acknowledgments.

 

(a)
The Executive Has Read the Document. The Executive acknowledges and agrees that she has carefully read this entire Agreement
and has been given sufficient opportunity to discuss this Agreement with the Company before signing.

 

(b)
The Executive Has Had an Opportunity to Consult with Others. The Executive acknowledges and agrees that she has been given
an adequate opportunity to consult with his lawyer, accountant, tax advisor, spouse and other persons she deems appropriate concerning
this Agreement and the terms and conditions hereof.

 

(c)
Executive Has a Copy. The Executive acknowledges and agrees that she has been given a copy of this Agreement.

 

(d)
Signing is Acceptance. By signing, the Executive agrees to accept all of the terms and conditions of this Agreement and
understands that the Company is relying upon the Executive’s stated acceptance of such terms and conditions.

 

[SIGNATURE PAGE
FOLLOWS]

 

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IN WITNESS WHEREOF,
the parties have executed this Agreement as of the Effective Date.

 

	“COMPANY”	 
	 	 
	RUBICON TECHNOLOGY, INC.	 
	 	 
	 	 
	Michael Mikolajczyk	 
	Chairman of the Board of Directors	 
	 	 
	“EXECUTIVE”	 
	 	 
	 	 
	Kevin Lusardi	 

 

 

11

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