SEC Contract Filing

Filing Date: 2016-01-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.30
<SEQUENCE>5
<FILENAME>ex10_30.htm
<DESCRIPTION>EXHIBIT 10.30
<TEXT>
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<title>exhibit10-41.htm</title>
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<div style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">EXHIBIT 10.30</div>

<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">EMPLOYMENT AGREEMENT</div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: serif">THIS EMPLOYMENT AGREEMENT (this &#8220;</font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Agreement</font><font style="FONT-FAMILY: serif">&#8221;) is entered into as of&#160;May 21, 2010&#160;by and between Photronics, Inc., a Connecticut corporation (the &#8220;</font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Company</font><font style="FONT-FAMILY: serif">&#8221;), having a principal place of business at 15 Secor Road, Brookfield, CT 06804 and Richelle E. Burr (&#8220;</font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Executive</font><font style="FONT-FAMILY: serif">&#8221;) residing at 7 Greenknoll Drive, Brookfield, CT 06804.</font></div>

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<div style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">WITNESSETH:</div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: serif">WHEREAS, the Company and Executive desire to enter into this Agreement to assure the Company of the continuing service of Executive and to set forth the terms and conditions of Executive&#8217;s employment with the Company.</font></div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: serif">NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties agree as follows:</font></div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; DISPLAY: inline">1. </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-DECORATION: underline; DISPLAY: inline">Term.</font><font style="FONT-FAMILY: serif">The Company agrees to employ Executive and Executive hereby accepts such employment, in accordance with the terms of this Agreement. Subject to </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Section 5,</font><font style="FONT-FAMILY: serif"> the term of Executive&#8217;s employment shall commence on the date hereof and continue for three (3) years thereafter unless this Agreement is earlier terminated as provided herein (the &#8220;</font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Term</font><font style="FONT-FAMILY: serif">&#8221;); </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">provided</font><font style="FONT-FAMILY: serif">, however, that unless the Company gives written notice to Executive at least thirty (30) days prior to the end of the Term of this Agreement (as the Term may be extended pursuant to this </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; TEXT-DECORATION: underline; DISPLAY: inline">Section 1</font><font style="FONT-FAMILY: serif">), on each anniversary of the date hereof, the Term of this Agreement shall automatically be extended for an additional one (1) year period. </font></div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; DISPLAY: inline">2. </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-DECORATION: underline; DISPLAY: inline">Services.</font><font style="FONT-FAMILY: serif">So long as this Agreement shall continue in effect, Executive shall devote Executive&#8217;s full business time, energy and ability to the business, affairs and interests of the Company and its subsidiaries and matters related thereto. Executive shall use his best efforts and abilities to promote the Company&#8217;s interests and shall perform faithfully the services contemplated by this Agreement in accordance with the Company&#8217;s policies as established by the Board of Directors of the Company.</font></div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; DISPLAY: inline">3. </font><font style="FONT-SIZE: 80%; FONT-FAMILY: serif; FONT-WEIGHT: bold; TEXT-DECORATION: underline; DISPLAY: inline">Duties and Responsibilities.</font></div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: serif">(a) Executive shall serve as the Vice President, General Counsel and Secretary. In the performance of Executive&#8217;s duties, Executive shall report directly to the CEO or as otherwise directed by the CEO or the Company&#8217;s Board of Directors, and shall have such duties, responsibilities and authority as may from time to time be assigned to the Executive by the CEO or the Company&#8217;s Board of Directors. </font></div>

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<div style="TEXT-ALIGN: left">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: serif">(b) In addition, Executive agrees to observe and comply with the policies, rules and regulations of the Company. The Company agrees that the duties which may be assigned to Executive shall be the customary dut