EXTENSION
Scientific Industries, Inc., a Delaware corporation (the "Company"),
with offices at 00 Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxx, Xxx Xxxx 00000, 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, and further amended on
June 9, 2015, be further extended and amended in the following
particulars only:
Section 2: -Term. The employment of Employee by the Company pursuant
hereto shall be through June 30, 2017, 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, 2017 at the rate of $146,000 per annum. 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, 2016, and
June 30, 2017.
All other terms and provisions shall remain in full form and effect.
Dated: May 25, 2016
SCIENTIFIC INDUSTRIES, INC.
By: /s/ Xxxxxx X. Xxxxxx
____________________________
Xxxxxx X. Xxxxxx, President
XXXXXX X. XXXXXXX
/s/ Xxxxxx X. Xxxxxxx
____________________________
