SEC Contract Filing

Filing Date: 2021-11-02

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<TYPE>EX-10.2
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<FILENAME>tm2131597d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 10.2</B></P>

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<P STYLE="margin: 0pt 0; font-family: Arial, Helvetica, Sans-Serif">FOR IMMEDIATE RELEASE</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Stoneridge Announces Sale of Minority Interest
in Minda Stoneridge Instruments Ltd.</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>NOVI, Mich. </B>&mdash; November 2, 2021 &mdash; Stoneridge, Inc.
(NYSE: SRI), a leading designer and manufacturer of highly engineered electrical and electronic vehicle systems, today announced the Company
entered into a Share Purchase Agreement (the &ldquo;SPA&rdquo;) to sell its minority interest in Minda Stoneridge Instruments Ltd. (&ldquo;MSIL&rdquo;),
which represents 49% of the total outstanding equity of MSIL, to Minda Corporation Limited (&ldquo;Minda&rdquo;). The purchase price of
the MSIL equity shares is $21.5 million equivalent Indian Rupee which is payable in U.S dollars at closing. The parties expect to close
the transaction by December 30, 2021, subject to the satisfaction of customary closing conditions.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Jon DeGaynor, president and chief executive officer commented,
 &ldquo;This transaction allows Stoneridge to continue its transformation by aligning our resources with our greatest areas of
opportunity. We value the partnership we have developed with Minda through MSIL and wish them continued success going
forward.&rdquo;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Prior to entering into the SPA, the Company and Minda owned 49% and
51%, respectively, of MSIL. MSIL is based in India and manufactures electronics, instrumentation equipment and sensors primarily for the
motorcycle, commercial vehicle and automotive markets. The Company recognized equity in earnings of MSIL of $1.3 million for the nine&nbsp;months
ended September 30, 2021, and $1.5 million and $1.6 million for the years ended December 31, 2020, and 2019, respectively.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>About Stoneridge, Inc.</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Stoneridge, Inc., headquartered in Novi, Michigan, is a leading global
designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive,
commercial vehicle, off-highway, motorcycle and agricultural vehicle markets. Additional information about Stoneridge can be found at
Stoneridge.com.&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Contact:</FONT>&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Kelly K. Harvey</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Director, Investor Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><U>Kelly.Harvey@Stoneridge.com</U></P>

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