SEC Contract Filing

Filing Date: 2017-03-14

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>f8k031317ex10ii_sgblocks.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT, DATED MARCH 10, 2017, BETWEEN MAHESH SHETTY AND SG BLOCKS, INC
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE
EMPLOYMENT AGREEMENT</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Executive Employment Agreement (&ldquo;<B><I>Agreement</I></B>&rdquo;) is between SG BLOCKS, INC. (the &ldquo;<B><I>Company</I></B>&rdquo;)
and Mahesh Shetty (&ldquo;<B><I>Executive</I></B>&rdquo;) and is effective as of January 1, 2017 (&ldquo;<B><I>Effective Date</I></B>&rdquo;).
In consideration of the mutual covenants set forth herein, the Company and Executive (collectively, the &ldquo;<B><I>Parties</I></B>&rdquo;
and each individually, a &ldquo;<B><I>Party</I></B>&rdquo;) agree as follows:</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
 <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>1.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Executive&rsquo;s
 Employment with the Company</U></B>. During the Term, the Company agrees to employ Executive
 as Chief Financial Officer of the Company or in any other position to which the Parties
 subsequently agree. During Executive&rsquo;s employment with the Company, Executive agrees
 to: (i) devote substantially all of Executive&rsquo;s time, energy, skill and best efforts
 to the performance of Executive&rsquo;s job duties, as assigned by the Company, and to
 the business of the Company, and shall perform such duties as assigned by the Company
 &ndash; which duties may change from time to time &ndash; in a diligent, trustworthy,
 and business-like manner and in compliance with all applicable laws; (ii) use his reasonable
 best efforts to foster the Company&rsquo;s interests; and (iii) comply with the Company&rsquo;s
 existing and future policies, manuals and procedures as adopted and provided to Executive;
 provided that, in the event of any conflict between any such policy, manual or procedure
 and the provisions of this Agreement, the provisions of this Agreement shall control.
 While frequent travel may be required of Executive in Executive&rsquo;s performance of
 Executive&rsquo;s job duties for the Company, Executive&rsquo;s primary work location
 shall be located in Dallas, Texas or any other location at which the Company&rsquo;s
 headquarters may be located during the Term (as defined below). Executive shall not at
 any time during Executive&rsquo;s employment with the Company: (a) work on any basis
 (including, without limitation, part-time or as an independent contractor) for a Competing
 Business (as defined in Section 5(a)); or (b) participate in any way in any other business
 that is not a Competing Business to the extent that such participation adversely affects
 Executive&rsquo;s performance of Executive&rsquo;s job duties for the Company or that
 may or does adversely affect the Company in any way.</FONT></TD></TR>
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<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><B>&nbsp;</B></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD></TR>
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 <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>2.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Term
 of Agreement</U></B>. Executive&rsquo;s employment with the Company pursuant to the terms
 of this Agreement will begin on the Effective Date and will remain in effect for a two
 (2) year period, unless earlier terminated in accordance with Section 7 (the &ldquo;<B><I>Initial
 Term</I></B>&rdquo;). After the end of the Initial Term, this Agreement shall automatically
 renew until either Party provides sixty (60) days&rsquo; prior written notice of termination
 (&ldquo;<B><I>Renewal Term</I></B>&rdquo; and, together with the Initial Term, the &ldquo;<B><I>Term</I></B>&rdquo;).</FONT></TD></TR>
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 <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0">&nbsp;</TD></TR>
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