Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. In 2020, the Company adopted a form of employment agreement for executive officers (the "Employment Agreement"), which it entered into withCurtis Campbell , effectiveFebruary 1, 2022 . The Employment Agreement contains substantially similar terms for each of executive officer (each, an "Officer," and collectively, the "Officers"), other than with respect to the Officer's base salary, bonus, equity awards, and title. Pursuant to the Employment Agreement, if the Officer's employment is terminated without cause or in a constructive termination (which is defined in the Employment Agreements as a material reduction in duties or base salary or the relocation of the Officer's primary work location) not in connection with a change of control of the Company, the Officer shall be entitled to a lump sum payment equal to one time their then-current base salary and 12 months of COBRA premiums, subject to the Officer signing a release of claims in favor of the Company. In addition, if the Officer's employment is terminated without cause or for good reason within 12 months of a change of control of the Company, the Officer will be entitled to (i) a lump sum payment equal to one times their then current base salary and annual target bonus and 12 months of COBRA premiums and (ii) full acceleration of all time-based unvested equity awards and a one year post-termination exercise period for their options, subject to the Officer signing a release of claims in favor of the Company. The Employment Agreement also contain customary covenants regarding nondisclosure, nonsolicitation and noncompetition. UnderMr. Campbell's Employment Agreement,Mr. Campbell is entitled to, among other things: (i) an annual base salary of$430,000 ; (ii) an annual target bonus at a level commensurate with his position, which participation and levels shall be determined by the Company's board of directors (the "Board") (or a committee thereof), in its sole discretion; and (iii) eligibility to participate in the Company's long-term equity incentive programs extended at levels commensurate with his position, which participation and levels shall be determined by the Board (or a committee thereof), in its sole discretion.Mr. Campbell will also be entitled to reimbursement for reasonable business expenses payable in accordance with the Company's standard expense reimbursement policy. The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Employment Agreement attached hereto as Exhibit 10.1 and incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No Description 10.1 Form of Employment Agreement for Executive Officers (entered into by and between the Company andTodd Mackay , effectiveApril 20, 2020 , entered into by and between the Company andMarc Mehlman , effectiveApril 27, 2020 , entered into by and between the Company andAnn Bruder , effectiveJune 19, 2020 , and entered into by and between the Company andMr. Campbell , effectiveFebruary 1, 2022 ) 104.1 Cover Page Interactive Data File (embedded within the Inline XBRL Document).
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