MICROPAC INDUSTRIES INC - FORM 10-K - EX-10.12 - THIRD AMENDMENT TO EMPLOYEMENT AGREEMENT - February 11, 2021

Attached files

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EX-10.11 - RESTATED AND AMENDED - MICROPAC INDUSTRIES INCexh1011.htm
EX-32.2 - CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - MICROPAC INDUSTRIES INCexh322.htm
EX-32.1 - CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - MICROPAC INDUSTRIES INCexh321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 OF THE SARBANES - MICROPAC INDUSTRIES INCexh312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANES - MICROPAC INDUSTRIES INCexh311.htm
10-K - MICROPAC INDUSTRIES INCmicropac10k.htm

EXHIBIT 10.12

 

THIRD AMENDMENT TO EMPLOYEMENT AGREEMENT

 

This third amendment (“Third Amendment”) is entered into between between Micropac Industries, Inc.("Company") and Patrick S. Cefalu, (“Employee”) for the purpose of amending that certain employment agreement between Employee and Company dated February 2, 2004 (the “Employment Agreement”).

 

1.Employee Compensation. Effective April 6, 2020, Employee’s Annual Compensation shall be One Hundred Eighty Thousand Seven Hundred Eighteen Dollars ($185,718.00) to be paid weekly.

 

2.Term. The Term of this Agreement is hereby extended for three (3) years beginning on April 6, 2020, subject to early termination as provided in the Employment Agreement. After the expiration of such three (3) years, either the Employee or the Company may terminate the Employment Agreement, at any time, by giving the other party hereto one hundred eighty (180) days written notice.

 

3.Entire Agreement. Except as expressly amended hereby, the remaining terms and conditions of the Employment Agreement shall remain if full force and effect.

 

 

EMPLOYEE: EMPLOYER:
   
An Individual Micropac Industries, Inc.
   
By: /s/ Patrick Cefalu   By: /s/ Mark King  
Patrick S. Cefalu Mark King
Title: Employee Title: CEO & President

 

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