SEC Contract Filing

Filing Date: 2018-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>2
<FILENAME>snhy-ex107_1242.htm
<DESCRIPTION>EX-10.7
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.7</p>
<p style="text-align:center;margin-top:0pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:0%;font-weight:bold;color:#000000;font-size:11.5pt;letter-spacing:0.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">AMENDMENT NO. 1 TO</p>
<p style="text-align:center;margin-top:0pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:0%;font-weight:bold;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SUN HYDRAULICS CORPORATION <br />EMPLOYEE STOCK PURCHASE PLAN</p>
<p style="text-align:justify;margin-top:27pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;letter-spacing:0.25pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, SUN HYDRAULICS CORPORATION, a Florida corporation (the "Company"), sponsors the Sun Hydraulics Corporation Employee Stock Purchase Plan (the "Plan"); and</p>
<p style="text-align:justify;margin-top:11pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, with certain exceptions not pertinent here, Section 15 of the Plan provides that the Plan may be amended by the Board of Directors of the Company; and</p>
<p style="text-align:justify;margin-top:12pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company desires to revise the Plan to delete the definition of "Enrollment Date" and modify the definition of "Subsidiary"; and</p>
<p style="text-align:justify;margin-top:12pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Board of Directors has determined that it is in the best interest of the Company to amend the aforesaid definitions contained in the Plan;</p>
<p style="text-align:justify;margin-top:12pt;line-height:13pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, be it resolved that Section 2.G. of the Plan is hereby deleted and the words "Offering Date" be substituted for the words "Enrollment Date" in the Plan;</p>
<p style="text-align:justify;margin-top:11pt;line-height:14pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;letter-spacing:0.1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FURTHER RESOLVED, that Section 2.N. of the Plan is hereby amended to read as follows:</p>
<p style="text-align:justify;margin-top:12pt;line-height:13pt;margin-bottom:0pt;margin-left:7.68%;margin-right:0.64%;text-indent:0%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">N.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Subsidiary" means a corporation that is a subsidiary of the Company within the</p>
<p style="text-align:justify;line-height:13pt;margin-bottom:0pt;margin-top:0pt;margin-left:15.35%;margin-right:0.64%;text-indent:0%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">meaning thereof as stated in Code Section 424(f). Any Subsidiary located outside the United States and High Country Tek, Inc. shall not participate in the Plan unless designated by the Board of Directors to participate.</p>
<p style="text-align:justify;margin-top:11pt;line-height:14pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FURTHER RESOLVED, that the foregoing amendments shall become effective on and as of July 1, 2017.</p>
<p style="text-align:justify;margin-top:11pt;line-height:14pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All capitalized terms used herein and not defined herein shall have the meanings given to them under the Plan.</p>
<p style="text-align:justify;margin-top:11pt;line-height:14pt;margin-bottom:0pt;margin-right:0.64%;text-indent:7.68%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF, this Amendment No. 1 to the Sun Hydraulics Corporation Employee Stock Purchase Plan has been adopted by the Board of Directors of the Company as of June 6, 2017.</p>
<p style="text-align:justify;margin-top:11pt;line-height:14pt;margin-bottom:0pt;margin-right:0.64%;color:#000000;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.68%;"><font style="margin-left:36pt;">SUN HYDRAULICS CORPORATION</font></p>
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