SEC Contract Filing

Filing Date: 2021-07-02

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>rekr_ex101.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT WITH MICHAEL DUNBAR
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Exhibit 10.1</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px"><a name="EMPLOYMENT_AGREEMENT"><!--anchor--></a>EMPLOYMENT
AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">THIS EMPLOYMENT AGREEMENT</font> (the
&#x201C;Agreement&#x201D;) is dated as of the 1st day of June, 2021,
by and between Rekor Systems, Inc. (the &#x201C;Company&#x201D;), a
Delaware corporation, and Michael Dunbar (the
&#x201C;Executive&#x201D;).</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">WITNESSETH
THAT:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">The
Company desires to employ the Executive, and the Executive wishes
to accept such employment with the Company, upon the terms and
conditions set forth in this Agreement.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">NOW THEREFORE</font>, in consideration of the
mutual promises and agreements set forth herein and other good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows:</font></div>
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<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">1.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Employment and Effective
Date</font>.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Effective Date of this Agreement (the &#x201C;Effective Date&#x201D;)
is the date of execution and delivery by the Company and the
Executive.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Executive&#x2019;s title as of the Effective Date shall be Chief
Revenue Officer of the Company. The Executive shall report to the
Company&#x2019;s President and Chief Executive Officer (the
&#x201C;CEO&#x201D;). The position is located at the headquarter
office in Columbia, Maryland. The position is considered
&#x201C;exempt&#x201D; and the Executive is not entitled to overtime
pay. The Executive hereby accepts such employment by the Company on
the terms and conditions hereinafter set forth.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Th