SEC Contract Filing

Filing Date: 2022-05-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>elmd220614_ex10-1.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT WITH CHRISTOPHER G. HOLLAND, DATED FEBRUARY 16, 2022
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EMPLOYMENT AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 163.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; text-align: justify">This Employment Agreement (&#8220;Agreement&#8221;)
is made effective as of February 16, 2022 (&#8220;Effective Date&#8221;) by and between Electromed, Inc., a Minnesota corporation
(the &#8220;Corporation&#8221;) and Christopher Holland, an individual residing in Minnesota (&#8220;Employee&#8221;) (collectively
&#8220;Parties&#8221; or individually &#8220;Party&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 163.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; text-align: justify"><B>WHEREAS</B>, the Corporation
desires to employ Employee, and Employee desires to be employed by the Corporation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; text-align: justify; margin-left: 0"><B>WHEREAS</B>,
the Corporation and Employee desire to enter into this Agreement, which will govern the terms of Employee&#8217;s employment with
the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in; text-align: justify"><B>NOW,
THEREFORE</B>, in consideration of the employment of Employee by the Corporation, and further in consideration of the salary,
wages or other compensation and benefits to be provided by the Corporation to Employee, and for additional mutual covenants and
conditions, the receipt and sufficiency of which are hereby acknowledged, the Corporation and Employee, intending legally to be
bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 163.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">In consideration of the above recitals and the mutual
promises set forth in this Agreement, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: justify"><U>Nature and Capacity of Employment</U>.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in; text-align: justify">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Title
and Duties</U>. Effective as of Effective Date, the Corporation will employ Employee as its Chief Commercial Officer, or such other
title as may be assigned to Employee by the Corporation&#8217;s President and Chief Executive Officer or his or her designee from
time to time, pursuant to the terms and conditions set forth in this Agreement. Employee will perform such duties and responsibilities
for the Corporation as the Corporation&#8217;s President and Chief Executive Officer or his or her designee may assign to Employee
from time to time consistent with Employee&#8217;s position. Employee shall serve the Corporation faithfully and to the best of
Employee&#8217;s ability and shall at all times act in accordance with the law. Employee shall devote Employee&#8217;s full working
time, attention and efforts to performing Employee&#8217;s duties and responsibilities under this Agreement and advancing the Corporation&#8217;s
business interests. Employee shall follow applicable policies and procedures adopted by the Corporation from time to time, including
without limitation the Corporation&#8217;s Confidentiality Policy and other Corporation policies, including those relating to business
ethics, conflict of interest and non-discrimination. Employee shall not, without the prior written consent of the