SEC Contract Filing

Filing Date: 2023-05-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d485508dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <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>EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Employment Agreement (this&nbsp;&#147;<U>Agreement</U>&#148;), entered into effective as of April&nbsp;11, 2023 (the &#147;<U>Effective
Date</U>&#148;), is made by and between David Davis (the&nbsp;&#147;<U>Executive</U>&#148;) and Sun Country, Inc., a Minnesota corporation (together with any of its subsidiaries and Affiliates (as defined below), and any and all successors thereto,
the&nbsp;&#147;<U>Company</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. The Company (f/k/a MN Airlines, LLC) and the Executive are parties to an Employment Agreement dated April&nbsp;17, 2019 (as further
modified or amended, the &#147;<U>Prior Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. The Company and the Executive desire to enter into this Agreement to
assure the Company the continued exclusive services of the Executive and to set forth the rights and duties of the parties hereto. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW,
THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below, the parties hereto agree as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Certain Definitions</U>. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Action</U>&#148;&nbsp;shall have the meaning set forth in Section&nbsp;9. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) &#147;<U>Affiliate</U>&#148;&nbsp;shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled
by, or under common control with such Person, where &#147;control&#148; shall have the meaning given such term under Rule 405 of the Securities Act of 1933, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;<U>Agreement</U>&#148;&nbsp;shall have the meaning set forth in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;<U>Air Carrier Competitors</U>&#148; shall mean the companies listed on <U>Annex A</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) &#147;<U>Annual Base Salary</U>&#148;&nbsp;shall have the meaning set forth in Section&nbsp;3(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) &#147;<U>Annual Bonus</U>&#148;&nbsp;shall have the meaning set forth in Section&nbsp;3(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) &#147;<U>Board</U>&#148;&nbsp;shall mean the Board of Directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Company shall have&nbsp;&#147;<U>Cause</U>&#148;&nbsp;to terminate the Executive&#146;s employment pursuant to Section&nbsp;4(a)(iii)
hereunder upon (i)&nbsp;the Executive&#146;s indictment for, conviction of, or plea of guilty or nolo contendere to, any (x)&nbsp;felony, (y)&nbsp;misdemeanor involving moral turpitude, or (z)&nbsp;other crime involving either fraud or a breach of
the Executive&#146;s duty of loyalty with respect to the Company or any Affiliates thereof, or any of its customers or suppliers, (ii)&nbsp;the Executive&#146;s failure to perform duties as reasonably directed by the Board (other than as a
consequence of Disability) after written notice thereof and failure to cure within ten (10)&nbsp;business days of receipt of the written notice, (iii)&nbsp;the Executive&#146;s fraud, misappropriation, embezzlement (whether or not in connection with
employment), or material misuse of funds or property belonging to the </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>

</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Company or any of its Affiliates, (iv)&nbsp;the Executive&#146;s willful violation of the policies of the Company or any of its subsidiaries, or gross negl