SEC Contract Filing

Filing Date: 2020-10-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_208177.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;"><b>EXHIBIT 10.1</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>EMPLOYMENT AGREEMENT</b></u></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">THIS EMPLOYMENT AGREEMENT (&#8220;Agreement&#8221;) is made as of the 1<sup style="vertical-align:top;line-height:120%;font-size:pt">st</sup> day of October 2020 (the &#8220;Effective Date&#8221;) by and between Standex International Corporation, a Delaware corporation with executive offices located at 23 Keewaydin Drive, Salem, New Hampshire 03079 (the &#8220;Employer&#8221;) and, Sean Valashinas, an individual residing at 11 Eastgate Rd; Derry, NH 03038 (the &#8220;Employee&#8221;).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><u><b>Employment; Term</b></u><u><b>; Location</b></u><u><b>.</b></u></p>

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 <p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(a)</p>
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 <p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Commencing on the Effective Date, Employer hereby agrees to continue to employ Employee, and Employee hereby agrees to continue to serve Employer on a full-time basis as Vice President and Chief Accounting Officer (or such other designated title as may be assigned from time to time by the Employer) of the Employer, subject to the direction and control of the Vice President/Chief Financial Officer of the Employer, through June 30, 2021 (the &#8220;Initial Term&#8221;). Thereafter the Agreement shall automatically renew for successive one (1) year terms commencing on July 1<sup style="vertical-align:top;line-height:120%;font-size:pt">st</sup> of each year and ending on June 30<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> of the next succeeding year (the &#8220;Renewal Term&#8221;) unless otherwise terminated pursuant to Section 1(b) of this Agreement. The Initial Term, together with any Renewal Terms shall hereinafter be referred to as the &#8220;Term&#8221; of this Agreement.</p>
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 <p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Subject to the provisions for termination otherwise included in Section 5 herein, either the Employer or the Employee shall have the right to terminate this Agreement by giving the other party thirty (30) days advance written notice (the &#8220;Notice Period&#8221;), at any time during the Term, stating his/its intention to terminate the Agreement. Such termination will be effective at the end of the Notice Period. In the event of notice of termination by the Employer, the provisions of Section 6 shall apply.</p>
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 <p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Employee&#8217;s principle office location shall be the corporate headquarters of the Employer in Salem, NH. Employee shall be expected to engage in such business travel as may reasonabl