SEC Contract Filing

Filing Date: 2023-10-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tmb-20231017xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.4.105.0--><!--Created on: 10/19/2023 05:39:54 AM (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;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;">EXECUTIVE EMPLOYMENT AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">This Executive Employment Agreement (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Agreement</u>&#8221;) is made and entered into between Bio-Techne Corporation, a Minnesota corporation (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Bio-Techne</u>&#8221;), and Kim Kelderman (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Executive</u>&#8221;) (each may be referred to individually as a &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Party</u>&#8221; and collectively as the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Parties</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">RECITALS</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">WHEREAS, Bio-Techne wishes to employ Executive under the terms and conditions set forth in this Agreement, and Executive wishes to accept such employment under the terms and conditions set forth in this Agreement;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants contained herein, Bio-Techne and Executive agree as follows:</p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;margin-bottom:12pt;margin-left:0pt;text-align:center;text-indent:0pt;"><font style="font-family:'Times New Roman Bold';text-decoration-line:none;text-transform:uppercase;vertical-align:baseline;white-space:nowrap;">Article&#160;I</font><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br>TERM OF EMPLOYMENT; DUTIES</div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">1.1</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Parties</u>. The Parties to this Agreement are Executive and Bio-Techne. As used herein, Bio-Techne refers to Bio-Techne Corporation and its subsidiaries, including but not limited to Research and Diagnostic Systems, Inc. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">R&amp;D</u>&#8221;), unless specifically provided otherwise. All of the rights and obligations created by this Agreement may be performed by or enforced by or against Bio-Techne or R&amp;D or any other appropriate Bio-Techne subsidiary.</div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">1.2</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Employment and Term of Agreement</u>. Effective November 1, 2023 (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Start Date</u>&#8221;), Bio-Techne agrees to employ Executive and Executive hereby accepts such employment on the terms and conditions set forth in this Agreement. &#160;This Agreement shall have an initial term of three years commencing as of November 1, 2023 (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Start Date</u>&#8221;) and ending on October 31, 2026 (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Term</u>&#8221;). &#160;<font style="font-family:'inherit';">This Agreement will automatically renew at the end of the initial Term and at the end of each subsequent Term, for a subsequent Term of one year unless either party gives written notice of non-renewal to the other at least six months prior to the expiration of the then current Term. &#160;</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vertical-align:baseline;white-sp