SEC Contract Filing

Filing Date: 2017-04-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a8-kx4x6x17xex101xmarukote.htm
<DESCRIPTION>EXHIBIT 10.1 - MARUKOT EMPLOYMENT AGREEMENT DATED APRIL 6, 2017
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<div><a name="s64e82c83acec4dedae57eba8cb2d0cc5"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EXHIBIT 10.1</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXECUTIVE EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS EXECUTIVE EMPLOYMENT AGREEMENT is entered into as of April 6, 2017 and effective as of January 1, 2017 (&#8220;Effective Date&#8221;), by and between LAPOLLA INDUSTRIES, INC., a Delaware Corporation (&#8220;Company&#8221;) and Jomarc Marukot (&#8220;Executive&#8221;).</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">W I T N E S S E T H:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Company acknowledges that Executive has been working for the Company as its Chief Financial Officer and Corporate Treasurer of the Company;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Company and Executive previously entered into an Executive Employment Agreement, effective January 1, 2015, as amended by the First Amendment to Executive Employment Agreement, effective December 30, 2016 (the &#8220;Prior Agreement&#8221;); and</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Company and the Executive now with to terminate the Prior Agreement and enter into this Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW THEREFORE, the parties hereto, in consideration of the premises and mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, agree as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EMPLOYMENT TERM</font><font style="font-family:inherit;font-size:10pt;">. During the Employment Term, Company hereby agrees to employ the Executive, and the Executive hereby accepts such employment for a period beginning on the Effective Date and ending December 31, 2017, unless sooner terminated in accordance with Section 6 hereof (&#8220;Employment Term&#8221;). The Executive hereby releases and waives all claims related to Executive&#8217;s employment with the Company prior to the Effective Date.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">POSITION; DUTIES</font><font style="font-family:inherit;font-size:10pt;">. Executive shall hold the title and position of Chief Financial Officer and Corporate Treasurer of the Company and shall have the duties and responsibilities usually vested in such capacities, as determined from time to time by the Chief Executive Officer, Board of Directors and By-laws.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">MANNER OF PERFORMANCE</font><font style="font-family:inherit;font-size:10pt;">. Executive shall serve the Company and devote all his business time, his best efforts and all his skill and ability in the performance of his duties