8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):

February 14, 2020

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SCIENTIFIC INDUSTRIES, INC.

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(Exact name of registrant as specified in its charter)

80 Orville Drive

Bohemia, New York 11716

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(Address of principal executive offices)

(631) 567-4700

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(Registrant's telephone number, including area code)

Not Applicable

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(Former name or former address, if changed since last report)

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On February 14, 2020, the Company terminated Mr. Brookman P. March, who had been the Company’s Vice President-Corporate Strategy and Vice President of Sales for the Company’s wholly-owned subsidiary, Altamira Instruments, Inc. Pursuant to the employment agreement between the Company and Mr. March, the company is obligated to pay severance pay for one year from the termination date plus health and insurance benefits.

ITEM 9.01 Financial Statements and Exhibits

(a) and (b) not applicable

(c) exhibits

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Blueprint

Delivered Via Email: (bmarch@altamirainstruments.com)

February 13, 2020

Brookman March

2200 Kings Highway 3-L, #206

Port Charlotte, FL 33980

Dear Brook:

Pursuant to Section 9(c) of your Employment Agreement dated July 1, 2017 (the “Employment Agreement”), this letter shall serve as written notice of your termination of employment with Scientific Industries, Inc. (the “Company”), effective February 14, 2020 (the “Termination Date”). This letter outlines certain information relating to the termination of your employment.

Final Pay. The Company will pay you your salary through the Termination Date, in accordance with the Company’s standard payroll practices.

Severance Payment. Pursuant to Section 9(c) of the Employment Agreement, the Company will pay your salary for one year from the Termination Date (the “Severance Payment”), including any accrued but unused vacation and sick time. The Severance Payment will be paid to you in accordance with the Company’s standard payroll practices.

Health Insurance Benefits.   The Company will continue your enrollment in the Company’s health insurance for one year from the Termination Date.

Other than the Final Pay and the Severance Payment, you are not entitled to receive any further compensation from the Company.

Stock Options Through the Termination Date. The Company has granted you the following options to purchase common stock of the Company (the “Options”): options for up to 7,500 shares of its Common Stock pursuant to the Company’s 2012 Stock Option Plan. As of the Termination Date, 5,000 Options are vested. The Options are exercisable subject to the terms of the applicable Option Agreement and the Company’s 2012 Stock Option Plan. The Options will continue to vest in accordance with the Option Agreement(s) and the Plan, and automatically cease to vest as of the Termination Date.

Deactivation of Access. As of the Termination Date, your access to the Company’s premises, email, keycards, or other logins or permissions will be disabled.

Non-Competition; Non-Interference; Non-Solicitation. You are reminded of your obligations under Section 7 of the Employment Agreement regarding Non-Competition, Non-Interference, and Non-Solicitation.

Return of Property. You are further requested to return all Company property or equipment and proprietary information as required by Section 6(d) of the Employment Agreement within 5 days of the Termination Date.

Company Contact. If you have any questions regarding your termination, please contact me at 631-930-1901 or email at hsantos@scientificindustries.com

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