SEC Contract Filing

Filing Date: 2021-03-01

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d23266dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYMENT SEPARATION AGREEMENT AND RELEASE </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS EMPLOYMENT SEPARATION AGREEMENT AND RELEASE (&#147;Agreement&#148;) has been entered into, as of February&nbsp;24, 2021, by and between
Dolev Rafaeli, residing at the address on file with the Company (as defined below) (referred to below as &#147;Executive&#148;) and STRATA Skin Sciences, Inc., a Delaware corporation, with its principal place of business at 5 Walnut Grove Drive,
Suite 140, Horsham, Pennsylvania 19044, including but not limited to affiliated officers, employees, agents, successors and assigns (referred to below as the &#147;Company&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>BACKGROUND </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,<B> </B>the<B> </B>Executive has served as Chief Executive Officer and President of the Company pursuant to an employment agreement
dated March&nbsp;30, 2018 (the &#147;Employment Agreement&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Executive&#146;s last day of employment is February&nbsp;28,
2021; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Executive and the Company have agreed to an exchange of consideration by which all matters relating to Executive&#146;s
employment and separation from employment have been resolved, the details of which are set forth below; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Executive and
the Company have mutually agreed not to extend the term of the Employment Agreement, and that the Executive&#146;s termination shall be a &#147;termination without cause&#148; under the Employment Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, for and in consideration of the foregoing promises and the covenants contained herein, and for other consideration, the
receipt and legal sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>1. Employment and Service as Director. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Executive&#146;s last day of active employment with Company is February&nbsp;28, 2021 (the &#147;Termination Date&#148;). Executive will
turn over all keys, passes and other property of the Company and will otherwise comply with the normal employment separation procedures. Executive will be paid his salary until his last day of work. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Executive&#146;s execution of this Agreement shall serve as notice of his resignation from the Board of Directors of the Company, effective
as of the Termination Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>2. Separation Pay and Benefits</I></B><B>.</B> Following receipt of the Executive&#146;s signed copy of
this Agreement and upon the expiration of the revocation period related to the releases contained in the form of release attached hereto as <U>Exhibit A</U> delivered on the Termination Date, the Company agrees that: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The Company will pay Executive the Executive&#146;s Base Salary (as defined under the
Employment Agreement) through May&nbsp;29, 2021 (such period, the &#147;Separation Period&#148;) less applicable legal deductions, such as tax withholdings, as separation pay (&#147;Separation Pay&#148;) by salary continuation consistent with the
Company&#146;s normal payroll procedures. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) The Company will pay Executive a lump sum amount equal to twelve (12)&nbsp;weeks of pay as a
payout for the Executive&#146;s accrued but unused vacation days, less applicable legal deductions, such as tax withholdings. Executive represents and acknowledges to the Company that Executive has not taken any vacation days during the Term of the
Employment Agreement through the date hereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) The Company will continue to provide Executive&#146;s Benefits (as defined under the
Employment Agreement) through the Termination Date. </P> <P STYLE="margin-top:6p