EX-10.1
from 10-Q
8 pages
This General Release and Severance Agreement (“Release”) Hereby Is Made and Entered Into by and Between Allen E. Dillard (The “Executive”) and Lakeland Industries, Inc. (The “Company”) and to and for the Benefit of the Released Parties, as Defined Below. Pursuant to Formal Notice to Executive on April 6, 2023, the Last Day of Executive’s Employment and the Date of Termination of the Employment Agreement, as Defined Below, Is April 6, 2023 (“Termination Date”), on Which He Relinquished All Privileges, Duties, Responsibilities and Authority as Chief Operating Officer and All Such Other Positions and Offices He Holds With the Company and Its Subsidiaries and as an Employee of the Company. the Company Has Terminated Executive’s Employment “Without Cause” Under the Employment Agreement Dated February 11, 2021, as Amended (The “Employment Agreement”) And, Pursuant to the Employment Agreement, Will Provide or Pay Executive (I) Any Accrued and Unpaid Base Salary Through the Termination Date Within Fifteen (15) Days of the Termination Date and (II) Any Other Employee Benefits Generally Paid by the Company Up to the Termination Date (Collectively, (I) and (II) the “Accrued Obligations”). Capitalized Terms Used in This Release and Not Defined Herein Shall Have the Meanings Set Forth in the Employment Agreement. 1. Severance Payment and Other Benefits
12/34/56
