AMENDED EMPLOYMENT AGREEMENT
Scientific Industries, Inc., a Delaware corporation,
00 Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxx, Xxx Xxxx 00000 (the "Company"),
and Xxxxxx P, Xxxxxxx an individual residing at 00 Xxxxx Xxxxxx,
Xxxxx Xxxxx, Xxx Xxxx 00000 (the "Employee") hereby agree that the
Employment Agreement between the Company and the Employee dated
September 30, 2011, as amended by the Amended Employment Agreement
dated May 20, 2013, be further amended in the following particulars
only:
Section 2: "Term. The employment of Employee by the Company
pursuant hereto shall be through June 30, 2016, unless terminated
earlier pursuant to the provisions of Section 7 hereof; such period
is herein referred to as the "Term".
Section 4: "Salary. As his compensation hereunder,
Employee shall be paid by the Company an annual base salary for
the 12 month period ending June 30, 2015 at the rate of $139,000
per annum, and for the 12 months ending June, 30, 2016, the
greater of $141,780, or an amount which represents the same
percentage increase in the Consumer Price Index for the year
ending June 30, 2015 from that of June 30, 2014. The Company
at the sole and absolute discretion of the Board may pay to
Employee a bonus for his services during each of the fiscal
years ending June 30, 2015, and June 30, 2016.
All other terms and provisions shall remain in full
form and effect.
Dated: June 9th, 2015
SCIENTIFIC INDUSTRIES, INC.
By: /s/ Xxxxxx X. Xxxxxx
____________________________
Xxxxxx X. Xxxxxx, President
XXXXXX X. XXXXXXX
/s/ Xxxxxx X. Xxxxxxx
____________________________
