SEC Contract Filing

Filing Date: 2022-03-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.15
<SEQUENCE>2
<FILENAME>f10k2021ex10-15_agrifycorp.htm
<DESCRIPTION>SEPARATION AGREEMENT OF NIV KRIKOV, DATED NOVEMBER 3, 2021
<TEXT>
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.15</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: left; margin-top: 0; margin-bottom: 0"><IMG SRC="ex10-15_001.jpg" ALT=""></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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 <TD STYLE="width: 50%">Niv Krikov</TD>
 <TD STYLE="text-align: right; width: 50%">November 3, 2021</TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">215 Fisher Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Needham, MA 02492 Dear Niv,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 35.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">As we have discussed and agreed, your
employment with Agrify Corporation (the &ldquo;<U>Company</U>&rdquo;) will terminate effective November 10, 2021 (the &ldquo;<U>Separation
Date</U>&rdquo;). If you timely sign this letter agreement (the &ldquo;<U>Agreement</U>&rdquo;) the Company will provide you with the
Severance Benefits described below, on the condition that you comply with all the terms set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">1. <U>Separation</U>.
Regardless of whether you sign this Agreement, on the Separation Date, you will receive payment of all wages earned, including your earned
bonus for Q3 and Q4, any commissions, expense reimbursement and all unused vacation time accrued, through the Separation Date. Following
the Separation Date, you will no longer be an employee of the Company and, except as specifically provided below, you will not be eligible
to participate in any of the Company&rsquo;s bonus plans or employee benefit plans except as specifically provided by law, or by the terms
of the plans themselves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">2. <U>Severance
Pay</U>. In consideration of the mutual covenants set forth herein, the Company will continue to pay you an amount equal to your current
annual base salary, less applicable withholding and deductions, through June 30, 2022 (the &ldquo;<U>Severance Period</U>&rdquo;), in
accordance with the Company&rsquo;s regular payroll periods and procedures (&ldquo;<U>Severance Pay</U>&rdquo;). The first payment shall
be made on the first regular Company payroll date following the date you sign this Agreement and the seven-day rescission period expires.
The first payment shall include any retroactive amounts accrued. Payment of the Severance Pay is contingent upon your compliance with
the terms of this Agreement. You acknowledge and agree that the Severance Pay is over and above anything owed to you by law, contract,
or under the policies of the Company, and that it is being provided to you expressly in exchange for you entering into this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">3. <U>Group
Benefits.</U> Your participation in the Company&rsquo;s group medical, dental and vision insurance plans shall terminate on November 30,
2021, except as provided under COBRA. If you elect to continue your participation in the Company&rsquo;s group medical, dental and vision
insurance plans in accordance with COBRA, the Company will pay the full monthly premium from December 1, 2021 through June 30, 2022. As
for other Company group benefits, you will continue to be enrolled in the Company&rsquo;s group plans at your current levels of enrollment
through June 30, 2022, at the Company&rsquo;s expense. The Company will provide you with information regarding your rights under COBRA
on or before November 21, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">4. <U>Employee
Stock Options.</U> The options previously granted to you will continue to vest through June 30, 2022, in accordance with the Company&rsquo;s
Stock Plan and your option grants. Your vested options shall be eligible for exercise until September 30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">5. <U>Continuing
Assistance</U>. The Severance Benefits described above are subject to you continuing to serve as an advisor through Dece