Document:

Exhibit
10.51

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into this 4th day of September 2019, to take effect September 15th,
2019 (the “Effective Date”), by and between Investview Inc. a Nevada Corporation, (the “Employer”), and
Jayme McWidener the “Officer”).

 

FOR
AND IN CONSIDERATION of the mutual covenants herein contained, the parties agree as follows:

 

ARTICLE
I ASSOCIATION AND RELATIONSHIP

 

1.1
Nature of Employment. The Employer hereby employs the Officer, and the Officer hereby accepts employment from the Employer,
upon the terms and conditions set forth herein.

 

1.2
Services. The Officer shall devote his time, attention, and services to the business and affairs of the Employer.

 

1.3
Duties. During the term of this Agreement, the Officer shall be employed by the Employer and shall serve as Chief Financial
Officer. The Officer shall serve in such offices or positions with the Employer or any subsidiary of the Employer and such
substitute or further offices or positions of substantially consistent rank and authority. The Officer shall perform duties appropriate
as may be assigned to him from time to time by the Employer and as described in the Employer’s bylaws. The Employer shall
direct, control, and supervise the duties and work of the Officer.

 

ARTICLE
II COMPENSATION

 

2.1
Compensation. For all services rendered by the Officer pursuant to this Agreement, the Employer shall compensate the Officer
as follows:

 

	(a)	Salary.
    The Officer shall be paid, in accordance with the normal payroll practice of the Employer, annual compensation in the amount
    of $175,000 for all hours worked, exempt from overtime. 
	 	 
	(b)	Salary
    Escalation. The board of directors or the designated compensation committee shall conduct an annual review to determine
    whether an increase in salary is appropriate based on Employer’s results of operations, increased activities or responsibilities
    of the Officer, or such other factors as the board of directors or the designated compensation committee thereof may deem
    appropriate. 
	 	 
	(c)	Other
    Consideration. The Employer is providing other consideration as agreed to by officer and attached herein as Exhibit A.

 

    	 	 	 

     

    

 

ARTICLE
III COVENANT TO NOT DISCLOSE CONFIDENTIAL INFORMATION

 

3.1
Definition of Confidential Information. For purposes of this Agreement, the term “Confidential Information”
shall mean information in written, graphic, or electronic form under the care or custody of Officer as a direct or indirect consequence
of or through his employment with the Employer and the special proprietary information regarding the business, methods, and operation
of the Employer that is designated by the Employer as “Limited,” “Private,” or “Confidential”
or similarly designated or for which there is any reasonable basis to believe is, or which appears to be, treated by the Employer
as private, restricted, or secret, but does not include information generally available to the public or to businesses in the
financial education, research, and services industry.

 

3.2
Protection of Confidential Information and Goodwill. The Officer acknowledges that in the course of carrying out, performing,
and fulfilling his responsibilities to the Employer, the Officer will be given access to and be entrusted with Confidential Information
relating to the Employer’s business. The Officer recognizes that (i) the goodwill of the Employer depends upon, among other
things, keeping the Confidential Information confidential and that unauthorized disclosure of the Confidential Information would
irreparably damage the Employer; and (ii) disclosure of any Confidential Information to competitors of the Employer or to the
general public would be highly detrimental to the Employer. The Officer further acknowledges that in the course of performing
his obligations to the Employer he will be a representative of the Employer to many other persons and, in some instances, the
Employer’s primary contact with such other persons, and as such will be responsible for maintaining or enhancing the business
and/or goodwill of the Employer with those other persons.

 

3.3
Covenants Regarding Confidential Information. In further consideration of the employment of the Officer by the Employer
and in consideration of the compensation to be paid to the Officer during his employment, the Officer hereby agrees as follows:

 

	(a)	Nondisclosure
    of Confidential Information. The Officer will not, during his employment with the Employer or at any time after termination
    of his employment, irrespective of the time, manner, or cause of termination, use, disclose, copy, or assist any other person
    or firm in the use, disclosure, or copying, of any Confidential Information. 
	 	 
	(b)	Return
    of Confidential Information. All files, records, documents, drawings, equipment, and similar items, whether in written
    or electronic form, relating to the business of the Employer, whether prepared by the Officer or otherwise coming into his
    possession, shall remain the exclusive property of the Employer and shall not be removed from the premises of the Employer,
    except where necessary in carrying out the business of the Employer, without the prior written consent of the Employer. Upon
    termination of the Officer’s employment, the Officer agrees to deliver to the Employer all Confidential Information
    and all copies thereof along with any and all other property belonging to the Employer whatsoever. 

 

    	 	-2-	 

     

    

 

ARTICLE
IV ENFORCEMENT OF COVENANTS

 

4.1
Relief. The Officer agrees that a breach or threatened breach by him of any covenant contained in this Agreement will cause
such damage to the Employer as will be irreparable, and for that reason, the Officer further agrees that the Employer shall be
entitled as a matter of right to an injunction from any court of competent jurisdiction restraining any further violation of such
covenants by the Officer, his employers, Officers, partners, or agents. The right to injunction shall be cumulative and in addition
to whatever other equitable or legal remedies the Employer may have, including, specifically, recovery of damages.

 

4.2
Survival of Covenants. Subject to Article V below, in the event the Officer’s employment relationship with the Employer
is terminated, with cause, the covenants contained in Article III above and the remedies provided under this Article IV shall
survive for a period of one year after such termination.

 

ARTICLE
V TERM AND TERMINATION

 

5.1
Term. Except as provided herein, the term of this Agreement shall be for a period of two (2) years commencing on the Effective
Date and shall automatically renew for one (1) year periods for three consecutive terms unless terminated prior to the 90th
day following the expiration of the applicable term. Notwithstanding the foregoing, this Agreement may otherwise be terminated
pursuant to the terms hereof.

 

5.2
Termination. The Officer’s employment hereunder may be terminated without any breach of this Agreement only under
the following circumstances:

 

	(a)	Termination
    for Cause. The Employer shall have the right to terminate this Agreement for cause (“Cause”) by showing that
    (i) the Officer has materially breached the terms hereof; (ii) the Officer, in the determination of the founders, has been
    grossly negligent in the performance of his duties; (iii) the Officer has engaged in material willful or gross misconduct
    in the performance of his duties hereunder; or (iv) there has been entered a final non-appealable conviction of or a plea
    of guilty or nolo contendere by the Officer to a felony or misdemeanor involving fraud, embezzlement, theft, or dishonesty
    or other criminal conduct against the Employer. Notwithstanding the foregoing, this Agreement shall not be deemed to have
    been terminated for Cause, without (x) reasonable notice to the Officer setting forth the reasons for the Employer’s
    intention to terminate for Cause; (y) an opportunity for the Officer, together with his counsel, to be heard before the full
    board of directors of the Employer; and (z) delivery to the Officer of written notice of termination setting forth the finding
    that in the good faith opinion of the board of directors the Officer was guilty of an act or acts constituting Cause under
    this provision and specifying the particulars thereof in detail.

 

    	 	-3-	 

     

    

 

	(b)	Termination
    upon Death or Disability of the Officer. This Agreement shall terminate immediately upon the Officer’s death or
    upon the disability of the Officer after termination of pay as set forth in Section 2.2. 
	 	 
	(c)	Termination
    by Officer for Cause. The Officer shall have the right to terminate this Agreement in the event of (i) the Employer’s
    intentional breach of any covenant or term of this Agreement, but only if the Employer fails to cure such breach within twenty
    (20) days following the receipt of notice from Officer setting forth the conditions giving rise to such breach; (ii) an assignment
    to the Officer of any duties inconsistent with, or a significant change in the nature or scope of, the Officer’s authorities
    or duties from those authorities and duties held by the Officer as of the date hereof and as increased from time to time in
    accordance with the terms of Section 1.3; or (iii) the failure by the Employer to obtain the assumption of the commitment
    to perform this Agreement by any successor corporation. 

 

5.3
Modified or Termination Payments.

 

	(a)	Termination
    Other than for Cause. In the event that the Officer’s employment is terminated or modified without the express written
    consent of the Officer by the Employer during the term hereof for reasons other than Cause, the Employer shall: 

 

	 	(i)	pay
    to the Officer all amounts accrued through the date of termination, any unreimbursed expenses incurred pursuant to Section
    2 of this Agreement; 
	 	 	 
	 	(ii)	waive
    and automatically terminate all forfeiture restrictions governing stock or options held by the Officer, which thereupon shall
    be fully vested and held free from forfeiture by the Officer; and 

 

	(b)	Termination
    upon Death of the Officer. If the Officer dies during the term of this Agreement, the Employer shall pay to the estate
    of the Officer the following: 

 

	 	(i)	within
    ten (10) days after the date on which the Officer dies, all amounts accrued through the date of termination, any unreimbursed
    expenses incurred pursuant to Section 2 of this Agreement, an amount for any accrued but unused vacation days, calculated
    at the Officer salary in effect on the termination date, and any other benefits specifically provided to the Officer; and
    

 

	(c)	Termination
    by the Employer for Cause. If the Employer terminates this Agreement for Cause, the Employer shall deliver to the Officer,
    within thirty (30) days following the effective date of such termination, all amounts accrued through the date of termination.
    
	 	 
	(d)	Termination
    by the Officer Without Cause. If the Officer terminates this Agreement for any reason other than in accordance with the
    provisions of Section 5.2 of this Agreement, the Employer shall deliver to the Officer, within thirty (30) days following
    the effective date of such termination, all amounts accrued through the date of termination and any unreimbursed expenses
    incurred pursuant to Section 2 of this Agreement. 

 

    	 	-4-	 

     

    

 

ARTICLE
VI MISCELLANEOUS

 

6.1
Exit Interview. To insure a clear understanding of this Agreement, including the protection of the Employer’s business
interests, the Officer agrees, at no additional expense to the Officer, to engage in an exit interview with the Employer at a
time and place designated by the Employer.

 

6.2
Severability. If any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid,
illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect the validity and enforceability
of any other provisions hereof. Further, should any provisions within this Agreement ever be reformed or rewritten by a judicial
body, those provisions as rewritten shall be binding upon the Employer and the Officer.

 

6.3
Right of Setoff. The Employer and Officer shall each be entitled, at its option and not in lieu of any other remedies to
which it may be entitled, to set off any amounts due from the other or any affiliate of the other against any amount due and payable
by such person or any affiliate of such person pursuant to this Agreement or otherwise.

 

6.4
Representations and Warranties of the Officer. The Officer represents and warrants to the Employer that (a) the Officer
understands and voluntarily agrees to the provisions of this Agreement; (b) the Officer is not aware of any existing medical condition
which might cause him to be or become unable to fulfill his duties under this Agreement; (c) the Officer has had the opportunity
to consult legal counsel of his own selection about this Agreement; and (d) the Officer is free to enter into this Agreement and
has no commitment, arrangement or understanding to or with any third party that restrains or is in conflict with this Agreement
or that would operate to prevent the Officer from performing the services to the Employer that the Officer has agreed to provide
hereunder.

 

6.5
Succession. This Agreement and the rights and obligations hereunder shall be binding upon and inure to the benefit of the
parties hereto and their respective legal representatives, and shall also bind and inure to the benefit of any successor of the
Employer by merger or consolidation or any assignee of all or substantially all of its property.

 

6.6
Assignment. Except to any successor or assignee of the Employer as provided in Section 6.5, neither this Agreement nor
any rights or benefits hereunder may be assigned by either party hereto without the prior written consent of the other party.
Neither the Officer, the Officer’s spouse, the Officer’s designated contingent beneficiary, nor their estates shall
have any right to anticipate, encumber, or dispose of any payment due under this Agreement. Such payments and other rights are
expressly declared nonassignable and nontransferable, except as specifically provided herein.

 

6.7
Reimbursement of Expenses. In the event that it shall be necessary or desirable for the Officer to retain legal counsel
and/or incur other costs and expenses in connection with the interpretation or enforcement of any and all of the Officer’s
rights under this Agreement, the Officer shall bear the legal expense associated with this legal review and interpretation.

 

    	 	-5-	 

     

    

 

6.8
Indemnification. The Employer shall indemnify the Officer and hold the Officer harmless from liability for acts or decisions
made by the Officer while performing services for the Employer to the greatest extent permitted by applicable law. The Employer
shall use its best efforts to obtain coverage for the Officer under any insurance policy now in force or hereafter obtained during
the term of this Agreement insuring officers and directors of the Employer against such liability. The Officer agrees to indemnify
and to hold the Employer harmless from any and all damages, losses, claims, liabilities, costs, or expenses arising from the Officer’s
acts or omissions in violation of his duties under this Agreement which constitute fraud, gross negligence, or willful and knowing
violations of the terms of this Agreement.

 

6.9
Notices. Any notices or other communications required or permitted under this Agreement shall be sufficiently given if
personally delivered, if sent by facsimile or telecopy transmission or other electronic communication (confirmed by sending a
copy thereof by United States mail), if sent by United States mail, registered or certified, postage prepaid, or if sent by prepaid
overnight courier addressed as set forth on the signature page hereto or such other addresses as shall be furnished in writing
by any party in the manner for giving notices hereunder, and any such notice or communication shall be deemed to have been given
as of the date so delivered or sent by facsimile or telecopy transmission or other electronic communication, one day after the
date so sent by overnight courier, or three days after the date of deposit in the United States mail.

 

6.10
Entire Agreement. This Agreement contains the entire Agreement between the parties hereto with respect to the subject matter
contained herein. No change, addition, or amendment shall be made except by written agreement signed by the parties hereto.

 

6.11
Waiver of Breach. The failure by any party to insist upon the strict performance of any covenant, duty, agreement, or condition
of this Agreement or the failure to exercise any right or remedy consequent upon a breach hereof shall not constitute a waiver
of any such breach or of any covenant, agreement, term, or condition and the waiver by either party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by any party.

 

6.12
Multiple Counterparts. This Agreement may be executed in a number of identical counterparts, each of which for all purposes
is to be deemed an original, and all of which constitute, collectively, one agreement. In making proof of this Agreement, it shall
not be necessary to produce or account for more than one such counterpart.

 

6.13
Descriptive Headings. In the event of a conflict between titles to articles and paragraphs and the text, the text shall
control.

 

6.14
Governing Law. The laws of the state of Utah shall govern the validity, construction, enforcement, and interpretation of
this Agreement.

 

    	 	-6-	 

     

    

 

 

    	 	-7-	 

     

    

 

EXHIBIT
A

 

Other
consideration agreed to between the parties:

 

	 	1.	20,000,000
    (TWENTY MILLION) restricted shares of the stock of the parent company INVESTVIEW INC. (INVU) which is contingent upon the
    Officers continued employment by the Company and will vest over a two-year period according to the following schedule: 

 

	 	a.	One
    third upon issuance 
	 	 	 
	 	b.	One
    third upon the first anniversary of the issuance 
	 	 	 
	 	c.	One
    third upon the second anniversary of the issuance 

 

	 	2.	$750
    monthly reimbursement toward Officer expenses 
	 	 	 
	 	3.	Expense
    reimbursement for direct costs incurred by the Officer in performing her duties hereunder 
	 	 	 
	 	4.	The
    Employer shall provide to the Officer incentive, retirement, pension, profit sharing, stock option, health, medical, or other
    employee benefit plans that are consistent with and similar to such plans provided by the Employer to its employees generally.
    All costs of such plans shall be an expense of the Employer and shall be paid by the Employer. 

 

    	 	-8-ttlo_Ex_10-1

		
			Exhibit 10.1
		

		
			 
		

		
			FORM OF AMENDED AND RESTATED EMPLOYMENT AGREEMENT
		

		
			 
		

		
			Date: September 12, 2019
		

		
			 
		

		
			Torotel is pleased to provide you with this letter agreement (this “Agreement”) setting forth in general the scope and terms of your employment with Torotel.  This Agreement is intended to reflect our mutual agreements regarding the terms and conditions of your employment with Torotel, as follows:
		

		
			 
		

		
			1.         Employment.  Torotel agrees to employ you as its Vice President of Finance, Treasurer, and Chief Financial Officer, and you agree to serve Torotel in such capacity, subject to the terms and conditions hereinafter set forth.
		

		
			 
		

		
			2.         Term.  The term of your employment shall be from September 12, 2019 and, if not sooner terminated pursuant to the terms hereof, shall expire on that date which is three (3) years after the date hereof.:  provided, however, that on September 30, 2020 and September 30th of each year thereafter, the term shall automatically extend for one additional year and shall continue in this manner until the Agreement is terminated as provided in Section 8 hereof.
		

		
			 
		

		
			3.         Duties.  You agree that you will serve Torotel faithfully and diligently and that you will fulfill the lawful directions given to you by Torotel’s Board of Directors to the best of your ability during your employment, and that you will devote your full-time efforts and attention to the business of Torotel, excluding reasonable vacation and sick leave in accordance with Torotel policies.  Your place of employment will be in the Kansas City metropolitan area and will involve the normal duties associated with the positions as Vice President of Finance, Treasurer, and Chief Financial Officer, such duties to include, but not be limited to Finance,  SEC Reporting, and supervision and control of other business and affairs of the Corporation.
		

		
			 
		

		
			4.         Compensation.  As compensation for services rendered by you to Torotel, you shall receive from Torotel:
		

		
			 
		

		
			(a)        An initial base salary of $13,790.40 per month (“Base Salary”), payable to you in bi-weekly installments during your employment, subject to annual adjustments by the Torotel Board of Directors in its sole discretion;
		

		
			 
		

		
			(b)        Bonus and stock as determined by the Board of Directors;
		

		
			 
		

		
			5.         Employee Benefits.
		

		
			 
		

		
			(a)        Medical and Insurance Benefits. You will be entitled to receive all employee benefits provided to Torotel employees generally from time to time, so long as and to the extent the same exist.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(b)       Vacation, Sick Leave and Holidays.  You shall be entitled to vacation, sick leave and holidays in accordance with Torotel’s policy, as it exists from time to time.
		

		
			 
		

		
			(c)       Restricted Stock Plan.  You shall be entitled to participate in Torotel’s restricted stock plan, in accordance with the terms of such plan, as it may be amended from time to time.
		

		
			 
		

		
			6.         Confidentiality/Non-Solicitation.
		

		
			 
		

		
			(a)        While employed, you will learn important proprietary information related to Torotel’s business, including, but not limited to, confidential and proprietary information concerning corporate strategies and planning in the area of strategic growth.  You acknowledge that the proprietary customer, operations, financial, and business information that has been or will be learned (i) has been and will be developed through Torotel’s expenditure of substantial effort, time and money; and (ii) together with relationships developed with customers and employees, could be used to compete unfairly with Torotel during the post-employment period.  Because Torotel’s ability to provide services on a competitive basis depends, in part, on its proprietary information and customer relationships, Torotel would not share such information and promote your relationship with customers if Torotel believed that you would use or disclose such information or relationships in competition with Torotel, or if Torotel believed that your relationship with Torotel’s employees or customers would be used to the detriment of Torotel.
		

		
			 
		

		
			(b)        You shall use reasonable efforts to protect Confidential Information from disclosure.  “Confidential Information” is any and all non-public information (no matter in what form) relating to Torotel’s intellectual property, customers, operations, finances, and business that derives value from not being generally known to others.  It includes, but is not limited to, technical or non-technical data, formulas, patterns, compilations, programs, devices, methods, techniques, drawings, processes, financial data, or lists of actual or potential customers or suppliers (including identifying information about those customers), whether or not reduced to writing.  Confidential Information includes information disclosed to Torotel by third parties that Torotel is obligated to maintain as confidential.  Confidential Information may include information that is not privileged nor a trade secret, but information that is not privileged and also not a trade secret shall constitute Confidential Information only for two years after termination of your employment.  You will not use, except in connection with work for Torotel, and will not disclose during or after your relationship with Torotel, Torotel’s Confidential Information.  Upon the termination of your employment, or for any reason or at any time at Torotel’s request, you will deliver promptly to Torotel all materials, documents, plans, records, notes, or other papers and any copies in your possession or control relating in any way to Torotel’s business, which at all times shall be the property of Torotel.
		

		
			 
		

		
			(c)        During your employment and for two years thereafter, you will not solicit for employment with any individual, corporation, partnership, association, franchise, unincorporated organization or other entity, any person who is or was, at any time during the year prior to the date of termination of your employment, a Torotel employee.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(d)        Because you will be affiliated with and benefit from Torotel’s name and good will and relationship with its customers and will have access to Confidential Information about Torotel’s customers, you will not, while employed by Torotel, solicit any Torotel customer for the purpose of providing products or services offered by Torotel, other than on behalf of Torotel.  In addition, for a period of two years after the termination of your employment, you will not solicit Customers for the purpose of providing products or services identical to or competitive with Torotel’s services.  “Customers” are customers of Torotel in the United States that you, during the year prior to the termination of your employment, (i) serviced or solicited on behalf of Torotel; (ii) supervised others servicing or soliciting on behalf of Torotel; or (iii) about whom you had Confidential Information.
		

		
			 
		

		
			7.         Expense Reimbursement.       Torotel will reimburse you for all reasonable, out-of-pocket expenses, including but not limited to reasonable travel expenses incurred in the performance of your employment duties under this Agreement.  Torotel will review and pay such expenses in accordance with its normal procedures for paying the expenses of employees, including such documentation requirements as may be adopted from time to time.
		

		
			 
		

		
			8.         Termination.
		

		
			 
		

		
			(a)        Your employment under this Agreement shall be terminated if you die, resign voluntarily, retire, voluntarily take another position with another company requiring a substantial portion of your time, or become disabled under circumstances in which you would be entitled to benefits under your Torotel provided long-term disability insurance policy (if any).  In addition, this Agreement may be terminated (x) by Torotel, at any time and without prior notice, for “Cause” (as defined below); or (y) by you, at any time and without prior notice, for “Good Reason” (as defined below).
		

		
			 
		

		
			(b)        For purposes of this Agreement, “Cause” means (i) your willful and continued failure to perform your duties (other than any such failure resulting from your incapacity due to physical or mental illness), after demand for substantial performance is delivered to you by Torotel that specifically identifies the manner in which you have not performed your duties; (ii) the engaging by you in gross negligence or willful failure to perform a material duty; or (iii) your conviction of a felony crime.
		

		
			 
		

		
			(c)        For purposes of this Agreement, “Good Reason” means (x) a material breach by Torotel of any provision of this Agreement which is not cured by Torotel within thirty (30) days’ notice thereof from you; (y) requiring you to move out of the Kansas City metropolitan area to perform your duties under this Agreement; or (z) a reduction in the character of your assigned duties or in your level of work responsibility or conditions or in your level of compensation.
		

		
			 
		

		
			(d)        In the event that you are terminated without Cause prior to the end of the term of this Agreement, you will receive a lump sum severance payment in the amount equal to one year of your salary, bonus and benefits (which shall include the amounts identified in Sections 4(a) and (b) above and Sections 5(a), (b) and (c) above, together with all bonuses earned and also shall include full vesting of all of your stock).
		

		
			
		

		
			

		 

		

		
			 
		

		
			(e)        In the event of a “Change of Control” (as defined below), if you are terminated by the Company other than for Cause or if you terminate your employment for Good Reason, you shall be entitled to receive a lump sum severance payment in an amount equal to the greater of:  (i) one year of your salary, bonus and benefits (which shall include the amounts identified in Sections 4(a) and (b) above and Sections 5(a), (b) and (c) above, together with all bonuses earned and also shall include full vesting of all of your stock), or (ii) the amount of your total salary, bonus and benefits for the remaining term of this Agreement (which shall include the amounts identified in Sections 4(a) and (b) above and Sections 5(a), (b) and (c) above, together with all bonuses earned and also shall include full vesting of all of your stock).
		

		
			For purposes of this Agreement, each of the following events shall constitute a “Change of Control”:
		

		
			(1)  A change in stockholder ownership of Torotel, whereby a person or company, or a group of affiliated persons or companies, acquires a sufficiently large block of the shares of capital stock of Torotel which, when added to shares of capital stock previously owned by them and when voted together with the shares of the capital stock of all other stockholders of Torotel whose proxies or written consents are solicited by such person, company or group without the benefit of a management-supported proxy statement at any meeting of the stockholders of Torotel, would enable such person or company or group of affiliated persons or companies to elect a majority of the Board of Directors of Torotel.
		

		
			(2)  A merger or consolidation of Torotel with and into another company, other than with or into a wholly-owned subsidiary of Torotel, where:
		

		
			a.   Torotel is not the surviving company; or
		

		
			b.   Torotel is the surviving company and the members of the Board of Directors immediately prior to the merger or consolidation do not constitute a majority of the Board of Directors of the surviving company after the merger or consolidation;
		

		
			(3)  The sale of all or substantially all of the assets of Torotel; or
		

		
			(4)  Any other kind of a corporate reorganization or takeover where:
		

		
			a.   Torotel is not the surviving company; or
		

		
			b.   Torotel is the surviving company and the members of the Board of Directors immediately prior to the reorganization do not constitute a majority of the Board of Directors of the surviving company.
		

		
			(f)        In the event of “Good Reason,” you, in your sole discretion, may (i) accept the changes and elect to remain with Torotel, or (ii) elect to take a lump sum severance payment in an amount equal to the greater of:  (A) one year of your salary, bonus and benefits (which shall include the amounts identified in Sections 4(a) and (b) above and Sections 5(a), (b) and (c) above, together with all bonuses earned and also shall include full vesting of all of your stock),
		

		
			
		

		
			

		 

		

		
			 
		

		
			or (B) the amount of your total salary, bonus and benefits for the remaining term of this Agreement (which shall include the amounts identified in Sections 4(a) and (b) above and Sections 5(a), (b) and (c) above, together with all bonuses earned and also shall include full vesting of all of your stock).
		

		
			9.         Miscellaneous.
		

		
			 
		

		
			(a)        Interpretation.  The paragraph headings contained herein are for the purpose of convenience of reference only and are not intended to define or limit the contents of such paragraphs.  In this Agreement, (i) all gender references include the feminine and the masculine and (ii) the singular includes the plural, and the plural the singular.
		

		
			 
		

		
			(b)        Severability.  If all or any provision or portion of this Agreement shall to any extent be held invalid or unenforceable, in whole or in part, by a court or agency having competent jurisdiction, a valid decision or decree to which Torotel is a party, then the parties expressly agree to be bound by any lesser covenant imposing the maximum legal duty permitted by law that is subsumed within the terms of such covenant, as if the resulting covenants were separately stated in and made a part of this Agreement, and the remainder of this Agreement shall remain in full force and effect.
		

		
			 
		

		
			(c)        Equitable Relief.  You and Torotel acknowledge and agree that breach of any of the covenants made by you herein would cause irreparable injury to Torotel, which could not sufficiently be remedied by monetary damages, and therefore that Torotel shall be entitled to obtain such equitable relief as declaratory judgments; temporary, preliminary, and permanent injunctions; and order of specific performance to enforce those covenants or to prohibit any act or omission that constitutes a breach thereof.
		

		
			 
		

		
			(d)        Amendment.  This Agreement may be altered or amended only by a writing signed by all parties hereto.  Your employment shall automatically terminate upon your death.  This Agreement is the final, complete and exclusive statement and expectation of the agreement between you and Torotel.
		

		
			 
		

		
			(e)        Governing Law.  This Agreement shall be construed under and governed by the laws of the State of Kansas.
		

		
			 
		

		
			(f)        No Improper Use of Information or Violation of Agreements with Prior Employers and Others.  During your employment, you will not improperly use or disclose any confidential information or trade secrets or violate any non-competition or other agreement with, any former employer or any other persons to whom you have an obligation of confidentiality or non-competition.  You will not bring onto the premises of Torotel any unpublished documents or any property belonging to any former employer or any person to whom you have an obligation of confidentiality, unless consented to in writing by that former employer or person.  You will use in the performance of your duties only information that is generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by Torotel.
		

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			(g)        Assignment.  You understand that you have been selected for employment by Torotel on the basis of your personal qualifications, experience and skills.  Therefore, you shall not assign all or any portion of your performance under this Agreement.
		

		
			 
		

		
			If the foregoing adequately reflects your understanding of our agreement, please indicate your affirmation by signing the enclosed copy of this Agreement and returning it to me at the above listed address.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Sincerely,

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						TOROTEL, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						The undersigned hereby agrees to the terms of the

					
					
						 

				
	
					
						foregoing Agreement:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						[NAME]

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]