SEC Contract Filing

Filing Date: 2015-11-13

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>a15-21018_1ex10d3.htm
<DESCRIPTION>EX-10.3
<TEXT>

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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Exhibit&nbsp;10.3</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">THIS EMPLOYMENT AGREEMENT (&#147;Agreement&#148;) is made as of October&nbsp;22, 2015 (the &#147;Effective Date&#148;) by and between Clean Diesel Technologies,&nbsp;Inc.,<font color="black" style="color:black;"> a Delaware corporation</font> (&#147;CDTI&#148; or the &#147;Company&#148;), and Matthew Beale (&#147;Executive&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">WHEREAS, CDTI and Executive desire to enter into an agreement setting forth the terms and conditions of Executive&#146;s employment with CDTI;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">NOW THEREFORE, in consideration of the mutual promises of the parties and the mutual benefits they will gain by the performance thereof, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties do hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="3" style="font-size:12.0pt;">Employment</font></u><font size="3" style="font-size:12.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">CDTI employs Executive, and Executive hereby accepts employment with CDTI, upon the terms and conditions set forth in this Agreement for the period beginning on the Effective Date and ending on October&nbsp;22, 2018. This Agreement supersedes and replaces any other employment or consulting agreement between Executive and CDTI.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="3" style="font-size:12.0pt;">Position and Duties.</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:.5in;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" style="font-size:12.0pt;">Executive shall serve as Chief Executive Officer of CDTI and shall have the normal duties, responsibilities and authority of such position, subject to the power of the Board of Directors of CDTI (&#147;Board&#148;) to expand or limit such duties, responsibilities and authority.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;text-indent:.5in;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font size="3" style="font-size:12.0pt;">Executive shall report to the Board.&#160; Executive shall devote Executive&#146;s best efforts and all of Executive&#146;s business time and attention (except for permitted vacation periods, reasonable periods of illness or other incapacity) to the business and affairs of CDTI.&#160; Executive shall perform Executive&#146;s duties and responsibilities hereunder to the best o