SEC Contract Filing

Filing Date: 2022-09-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>a2promotionletterbetweenca.htm
<DESCRIPTION>EX-10.2
<TEXT>
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<title>Document</title></head><body><div id="i5783ca71b31a4de58f8e89d6b955f847_103"></div><div style="min-height:74.88pt;width:100%"><div style="text-align:right"><img alt="image_0a.jpg" src="image_0a.jpg" style="height:51px;margin-bottom:5pt;vertical-align:text-bottom;width:194px"></div></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">September 8, 2022</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Re&#58; Promotion Letter</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Dear Ravi&#58;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">Through this letter, Cantaloupe, Inc. (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;) is pleased to offer you a promotion to Chief Executive Officer of the Company effective October 1, 2022. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">The purpose of this letter is to describe certain aspects of your upcoming promotion (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Promotion Letter</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;) and amend portions of your current employment agreement with the Company dated February 4, 2022 (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Employment Agreement</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;). Capitalized terms not otherwise defined in this Promotion Letter are defined in the Employment Agreement. To the extent not addressed in this Promotion Letter, the Employment Agreement remains in full force and effect and this Promotion Letter only amends the specific terms addressed herein.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">The following changes will be effective October 1, 2022&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">1)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;padding-left:8.23pt;text-decoration:underline">Employment with the Company.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%"> Executive shall hold the position of Chief Executive Officer. In this role, Executive will report to the Company&#8217;s Board of Directors (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Board</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#8221;). All employees of the Company and its Affiliates will report to Executive or the Executive&#8217;s designee (except that the Company&#8217;s internal audit function and other functions as appropriate may report directly to the Board or a committee thereof, as the Board may direct). Executive shall perform such duties and responsibilities for the Company and its Affiliates consistent with his position and as may otherwise be established from time to time by the Board, but in all cases consistent with the duties and responsibilities associated with the chief executive officer for companies of comparable size and nature.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">2)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;padding-left:8.23pt;text-decoration:underline">Appointment to the Board of Directors.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%"> Effective October 1, 2022, the Board shall appoint the Executive as a Director of the Company.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%">3)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%;padding-left:8.23pt;text-decoration:underline">Position and Duties.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:125%"> All references to &#8220;CEO&#8221; in Section 3 of the Employment Agreement shall be replaced with &#8220;Board&#8221;.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-