SEC Contract Filing

Filing Date: 2024-10-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>cto-20240930xex10d3.htm
<DESCRIPTION>EX-10.3
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.6.125.0--><!--Created on: 10/24/2024 06:17:18 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Courier';font-size:11pt;text-align:right;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Exhibit 10.3</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Century Schoolbook';font-size:12pt;font-weight:bold;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"><a name="_Hlk160456810"></a></b><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. REDACTED INFORMATION IS INDICATED BY [****].</b></p><p style="font-family:'Century Schoolbook';font-size:12pt;font-weight:bold;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><p style="font-family:'Century Schoolbook';font-size:12pt;font-weight:bold;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">EMPLOYMENT AGREEMENT</b></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;text-indent:28.8pt;margin:0pt 0pt 0pt 7.2pt;"><font style="font-family:'Times New Roman','Times','serif';">This Employment Agreement (this &#8220;</font><font style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:'Times New Roman','Times','serif';">&#8221;), effective as of October 22, 2024, is entered into by and between CTO REALTY GROWTH, INC., a Maryland corporation (the &#8220;</font><font style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">Company</font><font style="font-family:'Times New Roman','Times','serif';">&#8221;), and </font><a name="_Hlk164257080"></a><font style="font-family:'Times New Roman','Times','serif';">LISA M. VORAKOUN </font><font style="font-family:'Times New Roman','Times','serif';">(the &#8220;</font><font style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">Executive</font><font style="font-family:'Times New Roman','Times','serif';">&#8221;).</font></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;text-align:center;margin:0pt;"><u style="font-size:12pt;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">BACKGROUND</u></p><p style="font-family:'Courier';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font><font style="font-family:'Times New Roman','Times','serif';">The Executive has been employed by the Company since January 7, 2013. &#160;The Executive originally served as the Company&#8217;s Controller, and currently serves as the Company&#8217;s Senior Vice President and Chief Accounting Officer. &#160;The Company and the Executive desire to agree on certain terms with respect to the Executive&#8217;s continued employment as set forth below.</font></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Century Schoolbook';font-size:12pt;text-align:center;margin:0pt;"><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">TERMS</u></p><p style="font-family:'Courier';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Courier';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">1.</td><td style="padding:0pt;"><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Employment</u></td></tr></table><p style="font-family:'Courier';font-size:12pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><div style="font-family:'Century Schoolbook';font-size:12pt;margin-bottom:0pt;margin-left:36pt;margin-top:0pt;padding-left:36pt;text-ali