Employment Agreement between Stoneridge, Inc. and James Zizelman (President of Control Devices)
This agreement is between Stoneridge, Inc. and James Zizelman, who is being employed as President of Control Devices starting April 1, 2020. The contract outlines his duties, compensation, and benefits, including a base salary, eligibility for bonuses, and participation in company benefit plans. It specifies the term of employment until June 30, 2021, with provisions for early termination by either party under certain conditions. The agreement also covers reimbursement of business expenses and vacation entitlements. Both parties agree to comply with company policies and procedures throughout the term.
Exhibit 10.1
EMPLOYMENT AGREEMENT
This Employment Agreement is entered into as of April 1, 2020, with respect to an employment start date of April 1, 2020 (the “Effective Date”), by and between Stoneridge, Inc. (the “Company”) and James Zizelman (the “Executive”).
NOW, THEREFORE, in consideration of the mutual promises and mutual covenants herein and for other good and valuable consideration, the parties agree as follows:
1. | Employment. |
3. | Compensation and Benefits. |
4. | Termination of Employment.This Employment Agreement shall be terminated prior to the expiration of the Term only under the following circumstances: |
Initial /s/ JZ
6. | Miscellaneous. |
Initial /s/ JZ
To the Company:To Executive:
Stoneridge, Inc.James Zizelman
39675 MacKenzie Drive, Suite 40018640 Cypress Haven Drive
Novi, Michigan 48377Fort Myers, Florida 33908
Telephone (248) 489-9300Telephone ###-###-####
Fax ###-###-####
Attn: Chief Executive Officer
With copy to:
Susan Benedict
Chief Human Resources Officer
39675 MacKenzie Drive, Suite 400
Novi, Michigan 48377
Telephone ###-###-####
Fax ###-###-####
IN WITNESS WHEREOF, the parties have executed this Employment Agreement on the dates set forth below.
STONERIDGE, INC. | EXECUTIVE |
By: /s/ Jonathan B. DeGaynor Jonathan B. DeGaynor President and CEO | /s/ James Zizelman James Zizelman |
April 1, 2020 | April 1, 2020 |
Date | Date |
Initial /s/ JZ