Offer Letter by and between SigmaTron International, Inc and Frank Cesario dated October 23, 2024
EXHIBIT 10.1
CONFIDENTIAL
Mr. Frank J. Cesario
[***]
Dear Frank:
Please consider this letter as a formal offer of employment by SigmaTron International, Inc. for the position of Chief Financial Officer located in our EGV Corporate Offices.
1. | You will report directly to Gary Fairhead, CEO. |
2. | Your start date will be November 11, 2024. |
3. | Your weekly salary will be $5,769.24. |
4. | You will be participating in the SigmaTron company bonus plan. |
5. | You will be eligible for all fringe benefits commensurate with your position. Please see attached Benefit Summary attached. |
6. | You will have PTO days to be mutually agreed to by you and Gary Fairhead. |
7. | SigmaTron will present you with stock options for 30,000 shares of SGMA, the first 7,500 of which will vest 6 months after your anniversary date with the balance of shares vesting on your anniversary date in 7,500 share increments for 3 years. |
8. | You will be eligible to participate in SigmaTron’s 401K plan after one month of service. |
9. | SigmaTron International. Inc. is an “at will employer” and nothing in the letter is intended to change our “at will” employment agreement. |
10. | SigmaTron considers compensation information as confidential and not to be discussed with other employees. |
11. | This offer is contingent on an acceptable, routine background check. |
12. | If you are terminated by the Company for reasons not reasonably considered to be “for cause” as that is commonly defined, you will be eligible to receive a severance benefit of not less than 13 weeks of base compensation, subject to the execution of an appropriate separation agreement as the Company reasonably requires. |
If you have any questions or comments concerning the above, please let me know immediately. If not, please sign in the space below and bring a completed, signed copy in on your first day of employment.
I look forward to working with you. I am confident that you will be an asset to our organization and contribute greatly to our future success.
Sincerely,
John Sheehan
President
SigmaTron International, Inc.
Agreed: | /s/ Frank Cesario |
Dated: | October 23, 2024 |