SEC Contract Filing

Filing Date: 2019-11-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a19-23357_1ex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>

<html>
<head>

 </head>
<body link=blue lang="EN-US">
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1<a name="Exhibit10_1_095535"></a></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TESSCO TECHNOLOGIES INCORPORATED</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">STOCK OPTION</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS STOCK OPTION</font></b> (this &#147;<u>Option</u>&#148;) is granted by <b>TESSCO Technologies Incorporated</b>, a Delaware corporation (the &#147;<u>Company</u>&#148;), to <b>Sandip Mukerjee</b> (the &#147;<u>Optionee</u>&#148;) effective as of November&nbsp;15, 2019 (the &#147;<u>Grant Date</u>&#148;).</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RECITALS</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Optionee commenced his service as a Key Employee of the Company on August&nbsp;20, 2019 (the &#147;<u>Start Date</u>&#148;), pursuant to the terms of an Employment Agreement dated August&nbsp;19, 2019, by and between the Optionee and the Company (as amended from time to time, the &#147;<u>Employment Agreement</u>&#148;). In order to provide the Optionee additional incentive to further the Company&#146;s growth, development, and financial success, and as provided for under the terms of the Employment Agreement, the Compensation Committee of the Board of Directors of the Company (the &#147;<u>Committee</u>&#148;), pursuant to authority delegated by the Board of Directors of the Company (the &#147;<u>Board</u>&#148;), desires to grant to the Optionee, pursuant to the TESSCO Technologies Incorporated 2019 Stock and Incentive Plan (as from time to time hereafter amended, the &#147;<u>Plan</u>&#148;), an option to purchase Two Hundred Fifty Thousand (250,000) shares of the Company&#146;s Common Stock, par value $.01 per share (the &#147;<u>Common Stock</u>&#148;), at an exercise price of $11.52 per share (the &#147;<u>Exercise Price</u>&#148;), which price the Compensation Committee has determined to be the Fair Market Value of the Common Stock as of the Grant Date.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This Option is granted pursuant to the Plan, which is incorporated herein by reference for all purposes.&#160; The Optionee acknowledges receipt of a copy of the Plan and agrees to be bound by all of the terms and conditions hereof and thereof, and all applicable laws and regulations.&#160; Capitalized terms used herein and not otherwise defined shall have the meaning ascribed thereto in the Plan.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This Option is not intended to, and shall not, constitute or be treated as an &#147;incentive stock option&#148; within the meaning of Section&nbsp;422 of the Internal Revenue Code.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW, THEREFORE</font></b>, to evidence the grant of the option and to set forth the terms and conditions governing the exercise thereof and the parties&#146; other agreements relative thereto, the parties, intending to be legally bound, agree as follows:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECTION&nbsp;1.</font></b><fo