<SEC-DOCUMENT>0001564590-19-011006.txt : 20190408
<SEC-HEADER>0001564590-19-011006.hdr.sgml : 20190408
<ACCEPTANCE-DATETIME>20190408154653
ACCESSION NUMBER:		0001564590-19-011006
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190402
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20190408
DATE AS OF CHANGE:		20190408

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUN HYDRAULICS CORP
		CENTRAL INDEX KEY:			0001024795
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
		IRS NUMBER:				592754337
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1229

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21835
		FILM NUMBER:		19737435

	BUSINESS ADDRESS:	
		STREET 1:		1500 WEST UNIVERSITY PKWY
		CITY:			SARASOTA
		STATE:			FL
		ZIP:			34243
		BUSINESS PHONE:		9413621200

	MAIL ADDRESS:	
		STREET 1:		1500 WEST UNIVERSITY PKWY
		CITY:			SARASOTA
		STATE:			FL
		ZIP:			34243
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>snhy-8k_20190402.htm
<DESCRIPTION>8-K
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<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:1pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K </p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:3pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:3pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 OR 15(d) </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:3pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">of The Securities Exchange Act of 1934 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported): April 2, 2019 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:24pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">SUN HYDRAULICS CORPORATION </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">(Exact name of registrant as specified in its charter) </p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">0-21835</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">59-2754337</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">(State or other jurisdiction</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">of incorporation)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">(Commission </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">File Number)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:7.5pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">1500 West University Parkway, Sarasota, Florida</p></td>
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<p style="margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">34243</p></td>
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<p style="text-align:center;margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">(Address of principal executive offices)</p></td>
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<p style="margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:2pt;margin-top:2pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:8pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">(Zip Code)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Registrant&#8217;s telephone number, including area code: (941) 362-1200</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:7.5pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:8pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;"> (Former name or former address, if changed since last report) </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:9pt;line-height:4pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:40%;margin-right:40%;text-indent:0%;font-size:6pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="text-decoration:underline;">see</font> General Instructions A.2. below): </p>
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<p style="margin-bottom:0pt;margin-top:9pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri Light;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:9pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri Light;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:9pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri Light;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:9pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:9pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri Light;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p></td></tr></table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="jump_exp_1"></a><a name="jump_exp_2"></a><a name="jump_exp_1"></a><a name="jump_exp_2"></a>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="jump_exp_3"></a><a name="jump_exp_4"></a>Emerging growth company <font style="font-family:Times New Roman;"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="jump_exp_5"></a><a name="jump_exp_5"></a>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family:Times New Roman;"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Calibri Light;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
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<p style="margin-bottom:12pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Item 5.02. <font style="margin-left:36pt;"></font>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement with Certain Officers</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 2, 2019, Sun Hydraulics Corporation and Wolfgang Dangel, its CEO, entered into an amendment to Mr. Dangel&#8217;s Executive Continuity Agreement dated April 4, 2016 (the &#8220;Agreement&#8221;). In the amendment, Mr. Dangel agreed to forego the tax gross-up provided for in the Agreement in the event of a change in control.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 5, 2019, the Employment Agreement of Kennon Guglielmo, Co-General Manager of Enovation Controls, LLC (&#8220;Enovation&#8221;), expired.&nbsp;&nbsp;Mr. Guglielmo served as Co-General Manager pursuant to the Employment Agreement that was entered into in connection with the December 5, 2016 acquisition of Enovation by Sun Hydraulics Corporation. With the expiration of his Employment Agreement, Mr. Guglielmo is no longer serving in this capacity.&nbsp;&nbsp;Ms. Jinger McPeak, who served with Mr. Guglielmo as Co-General Manager, will continue to lead the business. </p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01.<font style="margin-left:36pt;">Financial Statements and Exhibits</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.67%;">(d)<font style="margin-left:36pt;">Exhibits</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.67%;"><font style="margin-left:36pt;"></font><a href="snhy-ex991_6.htm"><font style="text-decoration:underline;">99.1&nbsp;&nbsp; Amendment to Executive Continuity Agreement.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></a><font style="font-weight:bold;text-decoration:underline;"><br /></font></p>
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<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="text-decoration:underline;">SIGNATURE</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.</p>
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<td colspan="2" valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:49%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SUN HYDRAULICS CORPORATION</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:45%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
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<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:45%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dated: April 8, 2019</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="top"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:3%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:45%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Tricia L. Fulton</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:5%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:45%; border-top:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Tricia L. Fulton</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:5%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:45%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">Chief Financial Officer (Principal Financial and Accounting Officer)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.67%;"><font style="margin-left:36pt;"></font>&nbsp;</p></body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>snhy-ex991_6.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
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snhy-ex991_6.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri Light;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:6pt;text-align:center;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Calibri Light;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">AMENDMENT TO <br />EXECUTIVE CONTINUITY AGREEMENT</p>
<p style="margin-bottom:6pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS AMENDMENT TO EXECUTIVE CONTINUITY AGREEMENT (&#8220;Agreement&#8221;) made and entered into as of April 2 2019, by and between <font style="font-weight:bold;">SUN HYDRAULICS CORPORATION</font>, a Florida corporation (the &#8220;Company&#8221;) and <font style="font-weight:bold;">WOLFGANG H. DANGEL</font>, an individual residing in Sarasota, Florida (&#8220;Executive&#8221;).</p>
<p style="text-align:center;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">W I T N E S S E TH:</p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">WHEREAS, Executive and the Company entered into a Change of Control Agreement as of April&#160;4, 2016 (the &#8220;Agreement&#8221;), in connection with Executive&#8217;s appointment as President and Chief Executive Officer of the Company which includes a tax gross-up provision (&#8220;tax provision&#8221;);</p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">WHEREAS, the Company, with the active participation of Executive, is substantially revising the Company&#8217;s compensation policy and programs to align more closely executive compensation with the Vision 2025 strategy; and in connection therewith, the Executive in his role as Chief Executive Officer of the Company intends to recommend that future change-in-control agreements do not include tax provisions; and</p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">WHEREAS, the Board of Directors of the Company has determined that, to further the purposes for which the Agreement was entered into, it is in the best interests of the Company to express the Board&#8217;s support of Executive&#8217;s leadership with respect to executive compensation and to amend the Agreement to eliminate the tax provision;</p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Bank and Executive agree as follows:</p>
<p style="margin-bottom:6pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;">Section 6 of the Agreement &#8211; </font><font style="text-decoration:underline;">Tax Matters</font> is hereby amended to delete Section 6(b) <font style="text-decoration:underline;">Section 280G of the Code</font> in its entirety, whereupon Section 6(b) shall have no further force or effect.</p>
<p style="margin-bottom:6pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;">This Agreement is made by the Company in order to induce Executive to remain in the Company&#8217;s employ, with the Company&#8217;s acknowledgment and intent that it will be relied upon by Executive, and in consideration of the services to be performed by Executive from time to time hereafter.&nbsp;&nbsp;However, this Agreement is not an agreement to employ Executive for any period of time or at all.</font></p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">3.<font style="margin-left:36pt;">Except as expressly amended hereby, the Agreement shall continue in full force and effect in accordance with the provisions thereof.</font></p>
<p style="margin-bottom:6pt;margin-top:0pt;font-size:11pt;font-family:Calibri Light;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">IN WITNESS WHEREOF, the undersigned have executed or caused to be executed this Agreement as of the date first above written.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">SUN HYDRAULICS CORPORATION</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Calibri Light;font-style:normal;text-transform:none;font-variant: normal;">&#8220;EXECUTIVE&#8221;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:<font style="text-decoration:underline;">/s/ Philippe Lemaitre&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">/s/ Wolfgang H. Dangel</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Philippe Lemaitre, Chairman, Board of Directors</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Calibri Light;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WOLFGANG H. DANGEL</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
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