Employment Agreement (2010)Full Document 

Start of Preview

Scientific Industries Inc

                         EMPLOYMENT AGREEMENT

	Employment Agreement dated May 14, 2010 as of January 1, 2010
between SCIENTIFIC INDUSTRIES, INC., a Delaware corporation 70 Orville
Drive, Bohemia, New York 11716 (the "Company") and ROBERT P. NICHOLS, an
individual residing at 16 Adams Street, Rocky Point, New York, 11778


	WHEREAS, Employee has been employed as Executive Vice President
and Secretary of the Company since May 2001 with the two year period
ended December 31, 2008 covered by an Employment Agreement dated December
29, 2006 and the period thereafter through December 31, 2010 covered by
an Employment Agreement dated July 31, 2009, the Company and Employee
desire that he continue to be employed through June 30, 2011 as a senior
executive officer of the Company  on the terms and conditions hereinafter

	NOW, THEREFORE, it is hereby agreed as follows:

1.	Employment.  The Company hereby employs and Employee agrees to be
employed as a senior executive officer of the Company for the Term as
defined in Section 2 to perform the duties described in Section 3 hereof.

2.	Term.  The employment of Employee by the Company pursuant hereto
shall be for the period from January 1, 2010 through June 30, 2011,
unless terminated earlier pursuant to the provisions of Section 7
hereof; such period is herein referred to as the "Term".

3.	Duties.  Employee shall devote his full time to the affairs and
business of the Company for which he will serve in senior executive
positions or offices as the Board of Directors (the "Board") shall
designate with respect to the operations of the Company, including
engineering and product control of the Company, exclusive of the
Company's subsidiary Altamira Instruments Inc., for which Employee
shall perform such engineering duties as requested by its President.
For the purposes of this Agreement, executive offices means any one
or more of the following: Chief Operating Officer, Executive Vice
President and Secretary, it being agreed that Employee may hold more
than one executive office, provided that his duties will not require
him to devote more time to the performance of his duties on behalf of
the Company than is reasonable.  As a senior executive officer Employee
 shall report directly to the President or Chief Executive Officer of
the Company.  Employee shall use his best efforts to promote the
interests and welfare of the Company.  The duties shall be principally
performed at the principal executive offices of the Company.

4.	Salary.  As his compensation hereunder, Employee shall be paid
by the Company a base salary at the rate of $123,600 per annum.  The
base salary shall be payable in equal weekly installments.  The Company
may also pay to Employee a bonus determined by the Board in its sole
discretion for his services rendered during the six months ended June 30,
2010 and a bonus for his services rendered during the fiscal year ended
June 30, 2011.  The bonus, if any, shall be paid within four months
following the end of the related period.  The Board in determining the
amount of a bonus, if any, shall consider the achievement and surpassing
of goals or projections set forth or referred to in the operation
plan for the relevant period approved by the Board, including but not
limited to, cash flow and earnings; the Employee's performance of his
executive responsibilities, and such other criteria as the Board
deems relevant.

5.	Expenses.

a.	Subject to the authorization of the Board, Employee will be
authorized to incur reasonable and necessary expenses in connection
with the discharge of Employee's duties and in promoting the business

End of Preview