SEC Contract Filing

Filing Date: 2024-05-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_662393.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html><head>
	<title>ex_662393.htm</title>
	<!-- Generated by ThunderDome Portal - 4/30/2024 8:46:48 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><b>Retirement Transition Agreement</b></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">February 8, 2024</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Kevin Karas</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">11003 Fairway Drive</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Omaha, NE 68136</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Re: Retirement Transition Agreement</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dear Kevin:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">This letter is the Retirement Transition Agreement (the &#8220;Agreement&#8221;) between you and National Research Corporation (the &#8220;Company&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Retirement Date</u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">You have provided notice to the Company&#8217;s Board of Directors on February 8, 2024 that you intend to retire effective March 31, 2024 (the &#8220;Retirement Date&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Purpose of Agreement</u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Agreement sets forth the post-retirement benefits to be provided and any conditions required to receive those benefits.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Benefits</u></b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">-</p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company shall pay you any accrued but unpaid base salary that you have earned through your Retirement Date including all accrued but unused paid time off.</p>
 </td>
 </tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">-</p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">You will receive the equivalent to twelve (12) months of your current base salary, to be paid in biweekly installments on the Company&#8217;s standard pay day for one year after your Retirement Date.</p>
 </td>
 </tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">-</p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company will pay for health insurance benefits for you and your family for one year after your Retirement Date.</p>
 </td>
 </tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Release of Claims</u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">As a condition to receiving the benefits under the second and third bullets above, you agree to execute and deliver a signed Release of Claims, in the form attached hereto as Exhibit A, no earlier than your Retiremen