Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On September 30, 2020, hopTo, Inc. (the "Company") entered into an executive
employment agreement (the "Agreement") with Jonathon R. Skeels, the Company's
Chief Executive Officer and Interim Chief Financial Officer, effective as of
July 1, 2020.
Pursuant to the Agreement, Mr. Skeels is entitled to receive a base salary of
$200,000 per year and other compensation to be determined from time to time by
the Company in its sole discretion.
The Agreement also entitles Mr. Skeels to participate in the Company's employee
benefit plans and be reimbursed for expenses incurred in connection with his
service to the Company. If Mr. Skeels' employment is terminated without cause
(as defined in the Agreement) the Company will, against the receipt of a mutual
release, pay Mr. Skeels an amount equal to 12 months of his annual base salary
and pay the premiums for continuation of Mr. Skeels and his family's health
insurance for up to 12 months following his termination.
The foregoing description of the Agreement is a summary only and is qualified in
its entirety by the full text of the Agreement, which is 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 Employment Agreement, dated September 30, 2020, by and between
hopTo, Inc. and Jonathon R. Skeels.
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