SEC Contract Filing

Filing Date: 2024-12-16

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d848286dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXECUTIVE EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Executive Employment Agreement (this &#147;<U>Agreement</U>&#148;) is made as of November&nbsp;1, 2024, by and among Mastech Digital,
Inc., a Pennsylvania corporation (the &#147;<U>Parent</U>&#148;), Mastech Digital Technologies, Inc., a Pennsylvania corporation (together with the Parent, the &#147;<U>Company</U>&#148;), and Nirav Patel (&#147;<U>Executive</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company desires to employ Executive, and Executive wishes to enter into the employ of the Company, on the terms and conditions
set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, this Agreement is a condition of Executive&#146;s employment and is made in consideration for employment,
wages and benefits offered to Executive contemporaneously with this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, for the consideration set forth herein, the
receipt and sufficiency of which are acknowledged by the parties, and intending to be legally bound hereby, the Company and Executive agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1. DEFINITIONS. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.1.
</B>&#147;<U>Affiliate</U>&#148; of any particular Person means any other Person that, directly or indirectly, through one or more intermediaries, controls, or is controlled by or is under common control with such particular Person. For the purposes
of this definition, &#147;<U>control</U>&#148; (including the terms &#147;<U>controlled by</U>&#148; and &#147;<U>under common control with</U>&#148;) means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.2.
</B>&#147;<U>Board</U>&#148; shall mean the Board of Directors of the Parent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.3. </B>&#147;<U>Cause</U>&#148; shall mean
(i)&nbsp;Executive&#146;s convection of, or plea of &#147;guilty&#148; or &#147;no contest&#148; to, a felony or a crime involving moral turpitude or fraud; (ii)&nbsp;Executive&#146;s willful conduct which constitutes personal dishonesty,
incompetence, gross negligence or breach of fiduciary duty involving personal profit, theft or deceit, which in each instance brings the Company or any Company Affiliate into public disgrace or disrepute and that is materially injurious to the
business or reputation of the Company or any Company Affiliate; (iii)&nbsp;the substantial or continued unwillingness of Executive to perform duties as reasonably directed by the Board, provide that Executive has been given reasonable written notice
and explanation by the Board of any such failure to perform and reasonable opportunity to cure such failure to perform, and no such cure has been effected within a reasonable time after notice; or (iv)&nbsp;any material breach by Executive of
Paragraphs 5 or 6 of this Agreement, or Executive&#146;s breach of obligations pursuant to the Confidential Information and Intellectual Property Protection Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>1.4. </B>&#147;<U>Change of Control</U>&#148;<B> </B>shall mean (i)&nbsp;the consummation of a reorganization, merger or consolidation or
similar form of corporate transaction, involving the Company or any of its subsidiaries (a &#147;<U>Business Combination</U>&#148;), in each case, with respect to which all or substantially all of the individuals and entities who were the respective
beneficial owners of the outstanding common stock immediately prior to such Business Combination do not, immediately following such Business Combination, beneficially own, directly or indirectly, more than fifty
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percent (50%)&nbsp;of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election
of directors, as the case may be, of the corporation resulting from such Business Combination; or (ii)&nbsp;the complete liquidation or dissolution of the Company or sale or other disposition of all or substantially all of the assets of the Company
other than to a corporation with respect to which, following such sale or disposition, more than fifty percent (50%)&nbsp;of, resp