SEC Contract Filing

Filing Date: 2022-04-05

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>alco-ex101_6.htm
<DESCRIPTION>EX-10.1-JK EMP AGMT_2022
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;text-align:center;margin-top:0pt;margin-left:84.62%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:bold;">&nbsp;</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">AMENDED AND RESTATED EMPLOYMENT AGREEMENT</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) is entered into as of the 1st day of April, 2022 (the &#8220;<font style="text-decoration:underline;">Effective Date</font>&#8221;), by and between John E. Kiernan (the &#8220;<font style="text-decoration:underline;">Executive</font>&#8221;), a Florida resident, and Alico, Inc., a Florida corporation (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;).</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Recitals</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company desires to continue to employ the Executive to serve as the Chief Executive Officer and President of the Company, and the Executive desires to continue to hold such positions with the Company, with the terms and conditions of such employment that are set forth herein, being effective as of the Effective Date; and</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, effective as of the Effective Date, this Agreement shall supersede and replace that certain Employment Agreement between the Executive and the Company dated as of June 1, 2015.</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Agreement</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the premises and of the mutual covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</p>
<p style="text-align:left;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#010000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1. </font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Employmen</font><font style="color:#000000;">t.&nbsp;&nbsp;The Company hereby confirms its employment of, and hereby employs, the Executive as its Chief Executive Officer and President, and the Executive hereby confirms and accepts such employment, effective as of the Effective Date, upon the terms and conditions set forth herein. Except as otherwise expressly provided herein and in the Indemnification Agreement by and between the Company and the Executive dated as of January 9, 2018, as amended from time to time, and the Annual Performance and Long Term Bonus Agreement by and between the Company and the Executive dated as of April 1, 2022, as amended from time to time (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Bonus Agreement</font><font style="color:#000000;">&#8221;), this Agreement (including the exhibits, which are an integral part of it) sets forth the terms and conditions of the Executive&#8217;s employment by the Company, represents the entire agreement of the parties with respect to that subject, and supersedes all prior understandings and agreements with respect to that subject.&nbsp;&nbsp;Every reference in this Agreement to an Exhibit is to an exhibit to this Agreement.&nbsp;&nbsp;As used in this Agreement, the capitalized terms that are defined on </font><font style="text-decoration:underline;color:#000000;">Exhibit A</font><font style="color:#000000;"> have the respective definitions attributed to them on </font><font style="text-decoration:underline;color:#000000;">Exhibit A</font><font style="color:#000000;">, and those definitions are incorporated by reference into this Agreement.</font></p>
<p style="text-align:left;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#010000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2. </font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:u