SEC Contract Filing

Filing Date: 2020-02-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex_171554.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.2</b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>EXECUTIVE EMPLOYMENT AGREEMENT</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">THIS EMPLOYMENT AGREEMENT (&#8220;Agreement&#8221;) is made and entered into as of January 31, 2020 by and between NovaBay Pharmaceuticals, Inc. (&#8220;Company&#8221;) and Jason Raleigh (&#8220;Executive&#8221;).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>RECITAL</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The Company and Executive desire to formalize and reflect Executive&#8217;s employment under the terms and conditions of this Agreement.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">NOW, THEREFORE, in consideration of the foregoing recital, the mutual covenants herein contained and for other good and valuable consideration, the parties hereto hereby agree as follows:</p>

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 <p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">I.</p>
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 <p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><u>EMPLOYMENT</u>.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Position and Responsibilities</u>. The Company continues to employ the Executive as its Chief Financial Officer (&#8220;CFO&#8221;). Executive shall do and perform all such services and acts as necessary or advisable to fulfill the duties and obligations of said position and/or such other and/or additional responsibilities as reasonably delegated to Executive by Executive&#8217;s superior and/or the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) typically performed by a CFO consistent with the Company&#8217;s Bylaws.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>. Executive&#8217;s employment with the Company is at-will and shall be governed by the terms of this Agreement, commencing on January 31, 2020 and continuing to and including December 31, 2021, unless this Agreement is terminated at some earlier time in accordance with the terms of this Agreement.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Devotion</u>. Except as heretofore or hereafter excepted by the Company in writing, during the term of this Agreement, Executive (i) shall devote full time and attention to the foregoing responsibilities, (ii) shall not engage in any other business or other activity which may materially interfere with Executive&#8217;s performance of said responsibilities, and (iii) except as to any investment made in a publicly traded entity not amounting to more than 1% of its outstanding equity, shall not, directly or indirectly, as an employee, consultant, partner, principal, director or in any other capacity, engage or participate in any business that is in competition with the Company.</p>

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