Document:

Exhibit
10.5

 

TRXADE
GROUP, INC.

 

2019
EQUITY INCENTIVE PLAN

 

NOTICE
OF RESTRICTED STOCK GRANT

 

Capitalized
but otherwise undefined terms in this Notice of Restricted Stock Grant and the attached Restricted Stock Grant Agreement shall
have the same defined meanings as in the Trxade Group, Inc. 2019 Equity Incentive Plan (as amended from time to time)(the “Plan”).

 

Grantee
Name: Surendra Ajjarapu

 

Address:
_______________________________________________

 

You
have been granted Restricted Stock subject to the terms and conditions of the Plan and the attached Restricted Stock Grant Agreement,
as follows:

 

Date
of Grant: April 14, 2020

 

Vesting
Commencement Date: April 14, 2020

 

Price
Per Share: $6.12

 

Total
Number of Shares Granted: 49,020

 

Total
Value of Shares Granted: $300,002.40

 

Total
Purchase Price: $0, Issued In Consideration For Services

 

Agreement
Date: April 14, 2020

 

Vesting
Schedule: Vesting is based on the Company achieving the performance metrics set forth on Schedule 1 hereto, subject to
the terms of the applicable Restricted Stock Grant Agreement which follows and the Plan. The determination of whether the Performance
Metrics have been met shall be determined in the reasonable discretion of the Compensation Committee (the “Committee”),
no later than 90 days after December 31, 2020, and vesting shall occur only if the Committee has affirmatively determined, in
its reasonable discretion, that such applicable Performance Metrics have been met. 

 

    	Page 1 of 11
2019 Restricted Stock Grant Agreement

     

    

 

TRXADE
GROUP, INC.

 

2019
EQUITY INCENTIVE PLAN

 

RESTRICTED
STOCK GRANT AGREEMENT

 

This
RESTRICTED STOCK GRANT AGREEMENT (“Agreement”), dated as of the Agreement Date specified on the
Notice of Restricted Stock Grant is made by and between Trxade Group, Inc., a Delaware corporation (the “Company”),
and the grantee named in the Notice of Restricted Stock Grant (the “Grantee,” which term as used herein
shall be deemed to include any successor to Grantee by will or by the laws of descent and distribution, unless the context shall
otherwise require).

 

BACKGROUND

 

Pursuant
to the Plan, the Board (or an authorized Committee thereof), approved the issuance to Grantee, effective as of the date set forth
above, of an award of the number of shares of Restricted Stock as is set forth in the attached Notice of Restricted Stock Grant
(which is expressly incorporated herein and made a part hereof, the “Notice of Restricted Stock Grant”)
at the purchase price per share of Restricted Stock (the “Purchase Price”), if any, set forth in the
attached Notice of Restricted Stock Grant, upon the terms and conditions hereinafter set forth.

 

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

 

1.
Grant and Purchase of Restricted Stock. The Company hereby grants to Grantee, and Grantee hereby accepts the Restricted
Stock set forth in the Notice of Restricted Stock Grant, subject to the payment by Grantee of the total purchase price, if any,
set forth in the Notice of Restricted Stock Grant.

 

2.
Stockholder Rights.

 

(a)
Voting Rights. Until such time as all or any part of the Restricted Stock are forfeited to the Company under this Agreement,
if ever, Grantee (or any successor in interest) has the rights of a stockholder, including voting rights, with respect to the
Restricted Stock subject, however, to the transfer restrictions or any other restrictions set forth in the Plan.

 

(b)
Dividends and Other Distributions. During the period of restriction, Participants holding Restricted Stock are entitled
to all regular cash dividends or other distributions paid with respect to all shares while they are so held. If any such dividends
or distributions are paid in shares, such shares will be subject to the same restrictions on transferability and forfeitability
as the Restricted Stock with respect to which they were paid.

 

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2019 Restricted Stock Grant Agreement

     

    

 

3.
Vesting of Restricted Stock.

 

(a)
The Restricted Stock are restricted and subject to forfeiture until vested. The Restricted Stock which have vested and are no
longer subject to forfeiture are referred to as “Vested Shares.” All Restricted Stock which have not
become Vested Shares are referred to as “Nonvested Shares.”

 

(b)
Restricted Stock will vest and become nonforfeitable in accordance with the vesting schedule contained in the Notice of Restricted
Stock Grant.

 

(c)
Any Nonvested Shares of Grantee will automatically vest and become nonforfeitable if Grantee’s service with the Company
ceases owing to the Grantee’s Retirement, unless the Board (or an authorized committee thereof) provides otherwise.

 

(d)
In the event of a Change of Control, the Board (or an authorized committee thereof), in its discretion, may accelerate the time
at which all or any portion of Grantee’s Restricted Stock will vest.

 

(e)
Terms used in Section 3 and Section 4 have the following meanings:

 

(i)
“Cause” has the meaning ascribed to such term or words of similar import in Grantee’s written
employment or service contract with the Company or its subsidiaries and, in the absence of such agreement or definition, means
Grantee’s (i) conviction of, or plea of nolo contendere to, a felony or crime involving moral turpitude; (ii) fraud on or
misappropriation of any funds or property of the Company or its subsidiaries, or any affiliate, customer or vendor; (iii) personal
dishonesty, incompetence, willful misconduct, willful violation of any law, rule or regulation (other than minor traffic violations
or similar offenses), or breach of fiduciary duty which involves personal profit; (iv) willful misconduct in connection with Grantee’s
duties or willful failure to perform Grantee’s responsibilities in the best interests of the Company or its subsidiaries;
(v) illegal use or distribution of drugs; (vi) violation of any material rule, regulation, procedure or policy of the Company
or its subsidiaries, the violation of which could have a material detriment to the Company; or (vii) material breach of any provision
of any employment, non-disclosure, non-competition, non-solicitation or other similar agreement executed by Grantee for the benefit
of the Company or its subsidiaries, all as reasonably determined by the Board of Directors of the Company, which determination
will be conclusive.

 

(ii)
“Retirement” means Grantee’s retirement from Company employ at or above the age 65 as determined
in accordance with the policies of the Company or its subsidiaries, if any, in good faith by the Board of Directors of the Company,
which determination will be final and binding on all parties concerned.

 

(f)
Nonvested Shares may not be sold, transferred, assigned, pledged, or otherwise disposed of, directly or indirectly, whether by
operation of law or otherwise. The restrictions set forth in this Section will terminate upon a Change of Control.

 

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2019 Restricted Stock Grant Agreement

     

    

 

4.
Forfeiture of Nonvested Shares. Except as provided herein, if Grantee’s service with the Company ceases for
any reason (including (a) death or (b) Disability) other than Retirement, any Nonvested Shares will be automatically forfeited
to the Company for no consideration; unless the Board (or an authorized committee thereof) provides otherwise, and provided, however,
that the Board (or an authorized committee thereof) may cause any Nonvested Shares immediately to vest and become nonforfeitable
if Grantee’s service with the Company is terminated by the Company without Cause.

 

(a)
Legend. Each certificate representing Restricted Stock granted pursuant to the Notice of Restricted Stock Grant may bear
a legend substantially as follows:

 

“THE
SALE OR OTHER TRANSFER OF THE SHARES REPRESENTED BY THIS CERTIFICATE, WHETHER VOLUNTARY, INVOLUNTARY OR BY OPERATION OF LAW, IS
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS SET FORTH IN THE TRXADE GROUP, INC. 2019 EQUITY INCENTIVE PLAN (AS AMENDED) AND
IN A RESTRICTED SHARE GRANT AGREEMENT. A COPY OF SUCH PLAN AND SUCH AGREEMENT MAY BE OBTAINED FROM TRXADE GROUP, INC.”

 

(b)
Escrow of Nonvested Shares. The Company has the right to retain the certificates representing Nonvested Shares in the Company’s
possession until such time as all restrictions applicable to such shares have been satisfied.

 

(c)
Removal of Restrictions. The Participant is entitled to have the legend removed from certificates representing Vested Shares.

 

5.
Recapitalizations, Exchanges, Mergers, Etc. The provisions of this Agreement apply to the full extent set forth
herein with respect to any and all shares of capital stock of the Company or successor of the Company which may be issued in respect
of, in exchange for, or in substitution for the Restricted Stock by reason of any stock dividend, split, reverse split, combination,
recapitalization, reclassification, merger, consolidation or otherwise which does not terminate this Agreement. Except as otherwise
provided herein, this Agreement is not intended to confer upon any other person except the parties hereto any rights or remedies
hereunder.

 

6.
Grantee Representations.

 

Grantee
represents to the Company the following:

 

(a)
Restrictions on Transfer. Grantee acknowledges that the Restricted Stock to be issued to Grantee must be held indefinitely
unless subsequently registered and qualified under the Securities Act of 1933, as amended (the “Securities Act”)
or unless an exemption from registration and qualification is otherwise available. In addition, Grantee understands that the certificate
representing the Restricted Stock will be imprinted with a legend which prohibits the transfer of such Restricted Stock unless
they are sold in a transaction in compliance with the Securities Act or are registered and qualified or such registration and
qualification are not required in the opinion of counsel acceptable to the Company.

 

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2019 Restricted Stock Grant Agreement

     

    

 

(b)
Relationship to the Company; Experience. Grantee either has a preexisting business or personal relationship with the Company
or any of its officers, directors or controlling persons or, by reason of Grantee’s business or financial experience or
the business or financial experience of Grantee’s personal representative(s), if any, who are unaffiliated with and who
are not compensated by the Company or any affiliate or selling agent, directly or indirectly, has the capacity to protect Grantee’s
own interests in connection with Grantee’s acquisition of the Restricted Stock to be issued to Grantee hereunder. Grantee
and/or Grantee’s personal representative(s) have such knowledge and experience in financial, tax and business matters to
enable Grantee and/or them to utilize the information made available to Grantee and/or them in connection with the acquisition
of the Restricted Stock to evaluate the merits and risks of the prospective investment and to make an informed investment decision
with respect thereto.

 

(c)
Grantee’s Liquidity. In reaching the decision to invest in the Restricted Stock, Grantee has carefully evaluated
Grantee’s financial resources and investment position and the risks associated with this investment, and Grantee acknowledges
that Grantee is able to bear the economic risks of the investment. Grantee (i) has adequate means of providing for Grantee’s
current needs and possible personal contingencies, (ii) has no need for liquidity in Grantee’s investment, (iii) is able
to bear the substantial economic risks of an investment in the Restricted Stock for an indefinite period and (iv) at the present
time, can afford a complete loss of such investment. Grantee’s commitment to investments which are not readily marketable
is not disproportionate to Grantee’s net worth and Grantee’s investment in the Restricted Stock will not cause Grantee’s
overall commitment to become excessive.

 

(d)
Access to Data. Grantee acknowledges that during the course of this transaction and before deciding to acquire the Restricted
Stock, Grantee has been provided with financial and other written information about the Company. Grantee has been given the opportunity
by the Company to obtain any information and ask questions concerning the Company, the Restricted Stock, and Grantee’s investment
that Grantee felt necessary; and to the extent Grantee availed himself/herself of that opportunity, Grantee has received satisfactory
information and answers concerning the business and financial condition of the Company in response to all inquiries in respect
thereof.

 

(e)
Risks. Grantee acknowledges and understands that (i) an investment in the Company constitutes a high risk, (ii) the Restricted
Stock are highly speculative, and (iii) there can be no assurance as to what investment return, if any, there may be. Grantee
is aware that the Company may issue additional securities in the future which could result in the dilution of Grantee’s
ownership interest in the Company.

 

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2019 Restricted Stock Grant Agreement

     

    

 

(f)
Valid Agreement. This Agreement when executed and delivered by Grantee will constitute a valid and legally binding obligation
of Grantee which is enforceable in accordance with its terms.

 

(g)
Residence. The address set forth on the Notice of Restricted Stock Grant is Grantee’s current address and accurately
sets forth Grantee’s place of residence.

 

(h)
Tax Consequences. Grantee has reviewed with Grantee’s own tax advisors the federal, state, local and foreign tax
consequences of this investment and the transactions contemplated by this Agreement. Grantee is relying solely on such advisors
and not on any statements or representations of the Company or any of its agents. Grantee understands that Grantee (and not the
Company) is responsible for Grantee’s own tax liability that may arise as a result of the transactions contemplated by this
Agreement. Grantee understands that Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”),
taxes as ordinary income the difference between the purchase price for the Restricted Stock and the fair market value of the Restricted
Stock as of the date any restrictions on the Restricted Stock lapse. Grantee understands that Grantee may elect to be taxed at
the time the Restricted Stock is purchased rather than when and as the restrictions lapse by filing an election under Section
83(b) of the Code with the Internal Revenue Service within 30 days from the date of purchase. The form for making this election
is attached as Exhibit A hereto.

 

GRANTEE
ACKNOWLEDGES THAT IT IS GRANTEE’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY ANY ELECTION UNDER SECTION
83(b), EVEN IF GRANTEE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON GRANTEE’S BEHALF.

 

7.
No Employment Contract Created. The issuance of the Restricted Stock is not to be construed as granting to Grantee
any right with respect to continuance of employment or any service with the Company or any of its subsidiaries. The right of the
Company or any of its subsidiaries to terminate at will Grantee’s employment or terminate Grantee’s service at any
time (whether by dismissal, discharge or otherwise), with or without cause, is specifically reserved, subject to any other written
employment or other agreement to which the Company and Grantee may be a party.

 

8.
Tax Withholding. The Company has the power and the right to deduct or withhold, or require Grantee to remit to the
Company, an amount sufficient to satisfy Federal, state and local taxes (including the Grantee’s FICA obligation) required
by law to be withheld with respect to the grant and vesting of the Restricted Stock.

 

9.
Interpretation. The Restricted Stock are being issued pursuant to the terms of the Plan, and are to be interpreted
in accordance therewith. The Board (or an authorized committee thereof) will interpret and construe this Agreement and the Plan,
and any action, decision, interpretation or determination made in good faith by the Board (or an authorized committee thereof)
will be final and binding on the Company and Grantee.

 

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2019 Restricted Stock Grant Agreement

     

    

 

10.
Notices. All notices or other communications which are required or permitted hereunder will be in writing and sufficient
if (i) personally delivered or sent by telecopy, (ii) sent by nationally-recognized overnight courier or (iii) sent by registered
or certified mail, postage prepaid, return receipt requested, addressed as follows:

 

(a)
if to the Grantee, to the address (or telecopy number) set forth on the Notice of Grant; and

 

(b)
if to the Company, to its principal executive office as specified in any report filed by the Company with the Securities and Exchange
Commission or to such address as the Company may have specified to the Grantee in writing, Attention: Corporate Secretary;

 

or
to such other address as the party to whom notice is to be given may have furnished to the other party in writing in accordance
herewith. Any such communication will be deemed to have been given (i) when delivered, if personally delivered, or when telecopied,
if telecopied, (ii) on the first Business Day (as hereinafter defined) after dispatch, if sent by nationally-recognized overnight
courier and (iii) on the fifth Business Day following the date on which the piece of mail containing such communication is posted,
if sent by mail. As used herein, “Business Day” means a day that is not a Saturday, Sunday or a day
on which banking institutions in the city to which the notice or communication is to be sent are not required to be open.

 

11.
Specific Performance. Grantee expressly agrees that the Company will be irreparably damaged if the provisions of
this Agreement and the Plan are not specifically enforced. Upon a breach or threatened breach of the terms, covenants and/or conditions
of this Agreement or the Plan by Grantee, the Company will, in addition to all other remedies, be entitled to a temporary or permanent
injunction, without showing any actual damage, and/or decree for specific performance, in accordance with the provisions hereof
and thereof. The Board (or an authorized committee thereof) has the power to determine what constitutes a breach or threatened
breach of this Agreement or the Plan. Any such determinations will be final and conclusive and binding upon Grantee.

 

12.
No Waiver. No waiver of any breach or condition of this Agreement will be deemed to be a waiver of any other or
subsequent breach or condition, whether of like or different nature.

 

13.
Grantee Undertaking. Grantee hereby agrees to take whatever additional actions and execute whatever additional documents
the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations
or restrictions imposed on Grantee pursuant to the express provisions of this Agreement.

 

14.
Modification of Rights. The rights of Grantee are subject to modification and termination in certain events as provided
in this Agreement and the Plan.

 

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2019 Restricted Stock Grant Agreement

     

    

 

15.
Governing Law. This Agreement is governed by, and construed in accordance with, the laws of the State of Delaware,
without giving effect to its conflict or choice of law principles that might otherwise refer construction or interpretation of
this Agreement to the substantive law of another jurisdiction.

 

16.
Counterparts; Facsimile Execution. This Agreement may be executed in one or more counterparts, each of which will
be deemed to be an original, but all of which together will constitute one and the same instrument. Facsimile execution and delivery
of this Agreement is legal, valid and binding execution and delivery for all purposes.

 

17.
Entire Agreement. This Agreement (including the Notice of Restricted Stock Grant) and the Plan, constitute the entire
agreement between the parties with respect to the subject matter hereof, and supersedes all previously written or oral negotiations,
commitments, representations and agreements with respect thereto.

 

18.
Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provisions
of this Agreement, and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never been
contained herein.

 

19.
WAIVER OF JURY TRIAL. THE GRANTEE HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY
LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

[Signature
Page Follows]

 

    	Page 8 of 11
2019 Restricted Stock Grant Agreement

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Restricted Share Grant Agreement as of the date first written above.

 

	TRXADE
    GROUP, INC.	 
	 	 	 
	By:	/s/
    Howard Doss	 
	 	 	 
	Name:	Howard
    Doss	 
	 	 	 
	Title:	CFO	 

 

	GRANTEE:	 
	 	 	 
	/s/ Suren Ajjarapu	 
	Name:	Surendra
    Ajjarapu	 

 

    	Page 9 of 11
2019 Restricted Stock Grant Agreement

     

    

 

SPOUSE’S
CONSENT TO AGREEMENT

(Required
where Grantee resides in a community property state)

 

I
acknowledge that I have read the Agreement and the Plan and that I know and understand the contents of both. I am aware that my
spouse has agreed therein to the imposition of certain forfeiture provisions and restrictions on transferability with respect
to the Restricted Stock that are the subject of the Agreement, including with respect to my community interest therein, if any,
on the occurrence of certain events described in the Agreement. I hereby consent to and approve of the provisions of the Agreement,
and agree that I will abide by the Agreement and bequeath any interest in the Restricted Stock which represents a community interest
of mine to my spouse or to a trust subject to my spouse’s control or for my spouse’s benefit or the benefit of our
children if I predecease my spouse.

 

	Dated:
    	04/15/2020	 
	 	 	 
	/s/ Sandhya Ajjarapu	 
	Signature	 	 
	 	 	 
	Sandhya Ajjarapu	 
	Print
    Name	 	 

 

    	Page 10 of 11
2019 Restricted Stock Grant Agreement

     

    

 

SCHEDULE
1

 

2020
Bonus Metrics

 

Determined
as of December 31, 2020

 

	1.	Revenue
    Goal: Hit $ 12.5 Million	(24,510
    Shares vest)
	2.	Bonum
    Health Platform Reach 50,000 patients	(14,706
    Shares vest)
	3.	Place
    E-HUBS in 100 stores / locations	(4,902
    Shares vest)
	4.	Trxade
    Group Net Operating Income 10% of total sales	(4,902 Shares vest)

 

    	Page 11 of 11
2019 Restricted Stock Grant Agreement

     

    

 

Exhibit
A

 

    	 

    	 

    

 

ELECTION
UNDER SECTION 83(b)

OF
THE INTERNAL REVENUE CODE OF 1986

 

The
undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in
the taxpayer’s gross income or alternative minimum taxable income, as the case may be, for the current taxable year, as
compensation for services the excess (if any) of the fair market value of the shares described below over the amount paid for
those shares:

 

1.
The name, address, taxpayer identification number and taxable year of the undersigned are as follows:

 

	Taxpayer:	 
	Spouse:	 
	Name:	 
	Address:	 
	Identification
    No.:	 
	Taxable
    Year:	 

 

2.
The property with respect to which the election is made is described as follows: __________ shares (the “Shares”)
of the Common Stock of Trxade Group, Inc., a Delaware corporation (the “Company”).

 

3.
The date on which the property was transferred is:___________________ ,______.

 

4.
The property is subject to the following restrictions: The Shares may not be transferred and are subject to forfeiture under the
terms of an agreement between the taxpayer and the Company. These restrictions lapse upon the satisfaction of certain conditions
contained in such agreement.

 

5.
The fair market value of the property at the time of transfer (determined without regard to any restriction other than a nonlapse
restriction as defined in § 1.83-3(h) of the Income Tax Regulations) is: $_______ per share x ________ shares = $___________.

 

6.
For the property transferred, the undersigned paid $______ per share x _________ shares = $______________.

 

7.
The amount to include in gross income is $______________. [The result of the amount reported in Item 5 minus the amount
reported in Item 6.]

 

The
undersigned taxpayer will file this election with the Internal Revenue Service office with which taxpayer files his or her annual
income tax return not later than 30 days after the date of transfer of the property. A copy of the election also will be furnished
to the person for whom the services were performed. Additionally, the undersigned will include a copy of the election with his
or her income tax return for the taxable year in which the property is transferred. The undersigned is the person performing the
services in connection with which the property was transferred.

 

The
undersigned understands that the foregoing election may not be revoked except with the consent of the Commissioner.

 

Dated:
______________________, _____

 

___________________________

Taxpayer

 

The
undersigned spouse of taxpayer joins in this election.

 

Dated:
______________________, _____

 

_________________________

Spouse
of TaxpayerExhibit

Gregory T. Troy
Senior Vice President - Human Resources &
Chief Human Resources Officer

Kaman Corporation
1332 Blue Hills Avenue, P.O. Box 1
Bloomfield, CT USA

www.kaman.com    

April 10, 2020

John J. Tedone
Kaman Corporation 
1332 Blue Hills Avenue
Bloomfield, CT 06002

Re:    Retention and Special Assistance Agreement (“Agreement”)

Dear Mr. Tedone:

On March 16, 2020, you tendered your notice resignation of employment from Kaman Corporation (the “Company”).  As an inducement and to incentivize you to remain employed by the Company from March 16, 2020 through April 30, 2020 (“Retention Period”) and in order to ensure an orderly transition, including your agreement to provide certain transition assistance, and for the covenants described herein, the Company is offering you the following compensation, less all applicable withholdings and deductions required by law (the “Special Compensation”).  For purposes of this Agreement, your separation date from the Company will be April 30, 2020, unless otherwise mutually agreed upon in writing by you and the Company, in which case such other mutually agreed upon date shall be your separation date (“Separation Date”).

The Special Compensation includes all of the following remuneration:

		
	•
	A total of $115,553 will be paid to you in cash in four equal installments, with the first installment to be paid on or about May 31, 2020, the second installment to be paid on or about June 30, 2020, the  third installment to be paid on or about July 31, 2020, and the final installment to be paid on or about August 31, 2020, less applicable withholdings and deductions; and 

		
	•
	From May 1, 2020 through June 30, 2020, the Company will pay your premiums for Company-provided medical and dental coverage, subject to and provided that you elect such COBRA coverage within 60 days following the separation from the Company; and

		
	•
	Each of your cash-based long-term performance awards for which the performance period has not yet been completed as of the Separation Date will be payable in cash, at the time that any such long-term performance award is paid to other senior executives, such payment to be made on a pro-rata basis (determined by multiplying the amount you would have received based upon actual financial performance had your employment continued through the end of the performance period by a fraction, the numerator which is the number of days you remained employed with the Company during the award’s performance period through the Separation Date and the denominator of which is the total number of days during the award’s performance period).  For clarity and the avoidance of any confusion, your cash-based long-term performance award for the performance period January 1, 2017 through December 31, 2019, was earned as of December 31, 2019, and will be paid to you at the time that any such long-term performance award is paid to other senior executives, which is anticipated to be on or about June 30, 2020.

In the event that you die prior to the Separation Date, the Special consideration provided for in this Agreement shall become due and payable to your estate. 

Until your Separation Date, the economic terms of your employment with respect to continued service with the Company shall continue to apply such that you will continue to be paid your base salary in effect as of the date hereof and receive the same employee benefits that are in effect on the date you sign this Agreement.  

You will be eligible to receive the Special Compensation if all of the following eligibility criteria and conditions are satisfied:

		
	1.
	Your performance has been satisfactory, as determined in Kaman Corporation’s sole discretion, from the date of this letter agreement through the end of the Retention Period.

		
	2.
	You are actively employed by Kaman Corporation on the last day of the Retention Period.

		
	3.
	Effective as of April 30, 2020, you relinquish and resign your position with Kaman Corporation and its subsidiaries, and will execute and deliver any documents reasonably necessary to effectuate such resignation.

		
	4.
	You agree during the Retention Period to: (A) assist the Chief Financial Officer of Kaman Corporation with the transition of your duties and to advise him (or his designee) on all matters in which you have been involved or for which you have responsibility because of your employment with the Company and (B) perform such other duties as reasonably requested by the Chief Financial Officer of Kaman Corporation. Except for approved vacation, company holidays and other time off approved by the Chief Executive Officer of Kaman Corporation, you agree to work full time during the Retention Period. 

		
	5.
	You agree to cooperate and respond to reasonable future questions from time-to-time by the Chief Financial Officer of Kaman Corporation following the Separation Date through August 31, 2020, regarding your responsibilities and areas of accountability while employed by the Company, particularly in the areas of executive compensation and SEC reporting and disclosure.  The obligations set forth in this paragraph 5 will survive the termination of this Agreement and remain in full force and effect after the Separation Date until August 31, 2020.   

		
	6.
	For a period of twelve (12) months following the Separation Date, you agree and covenant not to directly or indirectly solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of, any person then employed by the Company or its affiliates. The obligations set forth in this paragraph 6 will survive the termination of this Agreement and remain in full force and effect after the Separation Date until the expiration of the referenced 12-month period.   

		
	7.
	You execute a release substantially in the form attached hereto as Exhibit A (the “Release”) not later than twenty-one days after the Separation Date and (B) you do not revoke the Release within the seven (7) day revocation period set forth in the Release.

		
	8.
	Upon the Separation Date or such other date mutually agreed upon by you and the Company, you will return all Company property, documents, and any confidential information in your possession or control, including Company-issued computer software, manuals, hotspot device(s), tokens, keys, badge(s) and credit card(s). Nothing in this paragraph 8. will prevent you from retaining any documents in your possession or control concerning your employee benefits or compensation.  On the Separation Date or at any other time requested by Company, you will promptly delete any confidential information from any computer hard drive or computer system within your possession or control that is not located on Company’s premises.  You further affirm that you are in possession of all of your personal property, and that the Company is not in possession of any of any such property. The obligations set forth in this paragraph 8 will survive the termination of this Agreement and remain in full force and effect after the Separation Date.   

		
	9.
	You agree to not in any way maliciously disparage or defame the Company, its directors, officer or employees in any forum, including to the media.  In the event you violate this provision, the Company has the right to institute an action for any damages plus the reimbursement of attorneys’ fees and costs incurred in connection with the enforcement of this provision. It is understood that the rest of this Agreement would, nevertheless, remain in full force and effect.  The obligations set forth in this paragraph 9 will survive the termination of this Agreement and remain in full force and effect after the Separation Date.

		
	10.
	The Company agrees: (i) that it will not at any time or in any way issue any statements or press releases disparaging or defaming you; (ii) to instruct management-level employees and senior executive employees of the Company, its subsidiaries and affiliates not to disparage or defame you; and (iii) that management-level employees and senior executive employees of the Company, its subsidiaries and affiliates will not disparage or defame you. In the event of a violation of this provision, you would have the right to institute an action for any damages plus the reimbursement of attorneys’ fees and costs incurred in connection with the enforcement of this provision. It is understood that the rest of this Agreement would, nevertheless, remain in full force and effect.  The obligations set forth in this paragraph 10 will survive the termination of this Agreement and remain in full force and effect after the Separation Date.

In the event that any provision of this Agreement is held in any jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity, or enforceability of such provision in any other jurisdiction.  Regardless of the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable, in such jurisdiction, it shall as to such jurisdiction be either automatically deemed to be so narrowly drawn, or any court of competent jurisdiction is hereby authorized to redraw it in that manner, without invalidating the remaining provisions of this Agreement in any other jurisdiction.    

From the date of this Agreement through the Separation Date, your employment remains at-will, meaning that you and the Company may terminate the employment relationship at any time, with or without cause, and with or without notice.

This Agreement is intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) and shall be construed and administered in accordance with Section 409A.

This Agreement contains all of the understandings and representations between you and the Company concerning your transition and the Special Compensation and related obligations upon which such Special Compensation is conditioned, and supersedes all prior and contemporaneous understandings, discussions, agreements, representations, and warranties, both written and oral, with respect to any retention payment. 

This Agreement may not be amended or modified unless in writing signed by both you and the Company.

This Agreement and all related documents (including all exhibits attached hereto), and all matters arising out of or relating to this Agreement, whether sounding in contract, tort, or statute for all purposes shall be governed by and construed in accordance with the laws of the State of Connecticut (including its statutes of limitations, without giving effect to any conflict of laws principles that would cause the laws of any other jurisdiction to apply.

Please sign and date this Agreement and return the signed copy to the undersigned by April 10, 2020.

Very truly yours,
/s/ Gregory T. Troy
Gregory T. Troy

Agreed to and accepted by:
/s/ John J. Tedone                             
Date: 4/10/2020                                

Exhibit A

FORM OF AGREEMENT AND GENERAL RELEASE
Kaman Corporation, its affiliates, subsidiaries, divisions, successors and assigns in such capacity, and the current, future and former employees, officers,  directors  and agents thereof (collectively referred to throughout this Agreement and General Release as “Employer”), and John J. Tedone, on behalf of himself and his heirs, executors, administrators, successors and assigns (collectively referred to throughout this Agreement as “Executive”) agree:

1.Last Day of Employment. Executive’s last day of employment with Employer is April 30, 2020 (“Termination Date”).  In addition, effective as of April 30, 2020, Executive resigns from all offices, directorships, trusteeships, committee memberships and fiduciary capacities held with or on behalf of, Employer, without further action on the part of Executive or by the relevant entity. These resignations will become irrevocable as set forth in Section 3 below. Other than as specifically provided in the Retention and Special Assistance Agreement Retirement and Transition Agreement between Employer and Executive dated April 10, 2020 (the “Retention Agreement”) or as specifically provided in any other Employer program or plan, Executive will not be eligible for any benefits or compensation after the Termination Date, including payments under the Kaman Corporation Amended and Restated Change in Control Agreement with an effective date as of April 20, 2016. Executive further acknowledges and agrees that after the Transition Date, the Executive will not represent himself as being a director, employee, officer, agent or representative of Employer for any purpose.

2.Consideration. The parties acknowledge that this Agreement and General Release is being executed in accordance with the terms of the Retention Agreement.

3.Revocation. Executive may revoke this Agreement and General Release for a period of seven (7) calendar days following the day Executive executes this Agreement and General Release. Any revocation within this period must be submitted, in writing, to Employer and state, “I hereby revoke my acceptance of our Agreement and General Release.”  The revocation must be personally delivered to Employer’s Senior Vice Present - Human Resources and Chief Human Resources Officer, or his designee, or mailed to Kaman Corporation, 1332 Blue Hills Avenue, P.O. Box 1, Bloomfield, CT 06002, Attention Gregory T. Troy, and postmarked within seven (7) calendar days of execution of this Agreement and General Release. This Agreement and General Release shall not become effective or enforceable until the revocation period has expired. If the last day of the revocation period is a Saturday, Sunday, or legal holiday in Hartford, Connecticut, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday.

4.General Release of Claim. Executive knowingly and voluntarily releases and forever discharges Employer from any and all claims, causes of action, demands, fees and liabilities of any kind whatsoever, whether known and unknown, against Employer, Executive has, has ever had or may have as of the date of execution of this Agreement and General Release, including, but not limited to, any alleged violation of: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; Sections 1981 through 1988 of Title 42 of the United States Code, as amended; the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (except for any benefits under any benefit plan covered by ERISA); the Immigration Reform and Control Act, as amended; the Americans with Disabilities Act of 1990, as amended; the Age Discrimination in Employment Act of 1967, as amended (“ADEA”); the Older Workers Benefit Protection Act of 1990; the Worker Adjustment and Retraining Notification Act, as amended; the Occupational Safety and Health Act, as amended; the Sarbanes-Oxley Act of 2002; the Fair Credit Reporting Act; the Family and Medical Leave Act of 1993; the Equal Pay Act; the National Labor Relations Act, to the extent permitted by law; the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), to the extent permitted by law; the Connecticut Fair Employment Practices Act - Conn. Gen. Stat. § 46a-51 et seq.; the Connecticut Wage Laws - Conn. Gen. Stat. § 31-58 et seq.; the Connecticut Statutory Provision Regarding Retaliation/Discrimination for Filing a Workers’ Compensation Claim - Conn. Gen. Stat. § 31-290a; the Connecticut Equal Pay Law - Conn. Gen. Stat. § 31-58(e) et seq., §§ 31-75 and 31-76; the Connecticut Family and Medical Leave Law - Conn. Gen. Stat. § 31-51kk et seq.; the Connecticut Drug Testing Law - Conn. Gen. Stat. § 31-51t et seq.; the Connecticut Whistleblower Law - Conn. Gen. Stat. § 31-51m(a) et seq.; the Connecticut Free 

Speech Law - Conn. Gen. Stat. § 31-51q et seq.; the Connecticut Age Discrimination and Employee Benefits Law - Conn. Gen. Stat. § 38a-543; the Connecticut Reproductive Hazards Law - Conn. Gen. Stat. § 31-40g et seq.; the Connecticut AIDS Testing and Confidentiality Law - Conn. Gen. Stat. § 19a- 581 et seq.; the Connecticut Electronic Monitoring of Employees Law - Conn. Gen. Stat. § 31-48b and d; the Connecticut Statutory Provision Regarding Protection of Social Security Numbers and Personal Information - Conn. Gen. Stat. § 42-470 et seq.; the Connecticut Statutory Provision Regarding Concerning Consumer Privacy and Identity Theft - Public Act No. 09-239; the Connecticut OSHA, as amended; the Connecticut Paid Sick Leave law (originally P.A. 11-52); any wage payment and collection, equal pay and other similar laws, acts and statutes of the State of Connecticut; any other federal, state or local civil or human rights law or any other local, state or federal law, regulation or ordinance; any public policy, contract, tort, or common law; and any allegation for costs, fees, or other expenses including attorney’s fees incurred in these matters.

Notwithstanding anything herein to the contrary, the sole matters to which the Agreement and General Release do not apply are: (i) Executive’s express rights under any pension plan (including but not limited to any rights under the Kaman Corporation Supplemental Retirement Plan) or claims for benefits under any other employee benefit plan, policy or arrangement maintained by Employer or under COBRA and other Accrued Amounts (as such term is defined in the Employment Agreement); (ii) Executive’s rights as a stockholder; (iii) any breach by Employer of the Retention Agreement; and (iv) any rights that Executive has, had, or may have to indemnification, advancement, contribution or defense, however arising, pursuant to and in accordance with applicable law, Employer’s articles of incorporation or by-laws or any applicable liability insurance coverage.

5.No Claims Permitted. Executive waives all rights to file any charge or complaint against Employer arising out of Executive’s employment with or separation from Employer before any federal, state or local court or any state or local administrative agency, except where such waivers are prohibited by law. Notwithstanding the foregoing, Executive understands that nothing contained in this Agreement and General Release prevents or limits Executive’s ability to file a charge or complaint with, cooperating with or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”). Executive further understands that this Agreement and General Release does not limit Executive’s ability from reporting possible violations of applicable laws to the Government Agencies communicate with any Government Agencies or otherwise communicating with them, including providing documents or other information, without notice to Employer. This Agreement and General Release does not limit Executive’s right to receive an award for information provided to any Government Agencies. This general release of claims also excludes any claims made under state workers’ compensation or unemployment laws, or any claims which cannot be waived by law.

6.Affirmations.  Executive affirms Executive has not filed, has not caused to be filed, and is not presently a party to, any claim, complaint, or action against Employer in any forum. Executive further affirms that the Executive has been paid and/or has received all compensation, wages, bonuses, commissions, and/or benefits to which Executive may be entitled and no other compensation, wages, bonuses, commissions and/or benefits are due to Executive, except as provided in the Retirement and Transition Agreement or other Employer plan or program. Executive also affirms Executive has no known workplace injuries.

7.Cooperation; Return of Property. In accordance with the terms of the Retention Agreement, Executive agrees to reasonably cooperate with Employer and its counsel in connection as described in the Retention Agreement and with respect to any investigation, administrative proceeding or litigation relating to any matter that occurred during Executive’s employment in which Executive was involved or of which Executive has knowledge and Employer will in such case reimburse the Executive for any reasonable out-of-pocket travel, delivery or similar expenses incurred and lost wages (or will provide reasonable compensation if Executive is not then employed) in providing such service to Employer. Executive represents that Executive has complied with the requirements of the Retention Agreement regarding the return of property.

8.Governing Law and Interpretation. This Agreement and General Release shall be governed and conformed 

in accordance with the laws of the State of Connecticut without regard to its conflict of laws provisions. In the event Executive or Employer breaches any provision of this Agreement and General Release, Executive and Employer affirm either may institute an action to specifically enforce any term or terms of this Agreement and General Release. Should any provision of this Agreement and General Release be declared illegal or unenforceable by any court of competent jurisdiction and should the provision be incapable of being modified to be enforceable, such provision shall immediately become null and void, leaving the remainder of this Agreement and General Release in full force and effect. Nothing herein, however, shall operate to void or nullify any general release language contained in the Agreement and General Release.

9.No Admission of Wrongdoing. Executive agrees neither this Agreement and General Release nor the furnishing of the consideration for this Agreement and General Release shall be deemed or construed at any time for any purpose as an admission by Employer of any liability or unlawful conduct of any kind.

10.Amendment. This Agreement and General Release may not be modified, altered or changed except upon express written consent of both parties wherein specific reference is made to this Agreement and General Release.

11.Entire Agreement. This Agreement and General Release sets forth the entire agreement between the parties hereto and fully supersedes any prior agreements or understandings between the parties; provided, however, that notwithstanding anything in this Agreement and General Release, the provisions in the Retention Agreement which are intended to survive termination of the Retention Agreement, shall survive and continue in full force and effect. Executive acknowledges Executive has not relied on any representations, promises, or agreements of any kind made to Executive in connection with Executive’s decision to accept this Agreement and General Release.

EXECUTIVE HAS BEEN ADVISED THAT EXECUTIVE HAS UP TO TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT AND GENERAL RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE.

EXECUTIVE AGREES ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT AND GENERAL RELEASE DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD.

HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THE SUMS AND BENEFITS SET FORTH IN THE EMPLOYMENT AGREEMENT, EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS EXECUTIVE HAS OR MIGHT HAVE AGAINST EMPLOYER.

IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement and General Release as of the date set forth below:

KAMAN CORPORATION                JOHN J. TEDONE
By: /s/ Gregory T. Troy                                       /s/ John. J. Tedone                          
Name: Gregory T. Troy                                       Date: 4/10/2020                              
Title: SRVP Human Resources & CHRO
Date: 4/13/2020

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