SEC Contract Filing

Filing Date: 2019-09-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>employmentagreeement.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s8eb79b149f334e3a8084ba231a4315ab"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:0px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-top:1px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Of</font></div><div style="line-height:120%;padding-bottom:17px;padding-top:1px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Byrd Douglas Cain, III</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS EMPLOYMENT AGREEMENT </font><font style="font-family:inherit;font-size:12pt;">(this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made as of September 4, 2019, by and between UNIQUE FABRICATING, INCORPORATED, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Byrd Douglas Cain, III</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">(&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS, </font><font style="font-family:inherit;font-size:12pt;">the Company desires to secure Executive's employment as President/CEO of the Company and Executive desires to be employed in such capacity; and</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS, </font><font style="font-family:inherit;font-size:12pt;">the parties hereto desire to enter into this Agreement, which Agreement will be effective as of the date set forth above, once signed by both parties, (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and will set forth the terms and conditions upon which Executive will continue to serve as the President/CEO of the Company.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE, </font><font style="font-family:inherit;font-size:12pt;">in consideration of the mutual agreements set forth below and for other good and valuable consideration given by each party to this Agreement to the other, the receipt and sufficiency of which are hereby acknowledged, the Company agrees to continue to employ Executive, and Executive agrees to be employed by the Company, pursuant to the terms and subject to the conditions that follow.</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment.</font><font style="font-family:inherit;font-size:12pt;">&#32;The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed by the Company, upon the terms and conditions contained in this Agreement, effective on the later of the Effective Date or the first day of employment (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Start Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and ending on the third anniversary of thereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Initial Employment Period</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Initial Employment Period shall be automatically renewed on the same terms and conditions then in effect for successive one year terms unless either party gives at least ninety (90) days' prior written notice of non-renewal prior to the end of the applicable term (the Initial Employment Period, together with any renewals thereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment Period</font><font style="font-family:inherit;font-size:12pt;">&#8221;). If the Company provides Executive with a notice of non-renewal in accordance with the above, the Company may in its discretion terminate Executive&#8217;s services as of the date of such notice by paying to Executive all amounts that would otherwise have become due during the remainder of the Employment Period and subject to the Company's obligations under Section 6(b) hereof. The Start Date is anticipated to be September 30, 2019.</font></div><div style="line-he