Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 31, 2020, Vonage Holdings Corp. (the "Company") and Timothy
Shaughnessy, the Company's Interim Chief Financial Officer, entered into an
amendment (the "Amendment") to Mr. Shaughnessy's Fixed Term Employment Contract
(the "Agreement"). The Amendment provides that Mr. Shaughnessy will continue to
serve as the Company's Interim Chief Financial Officer through February 28,
2021, with an option to further extend Mr. Shaughnessy's service through March
31, 2021, upon mutual agreement between the Company and Mr. Shaughnessy. In
connection with his extended service, the Amendment provides that Mr.
Shaughnessy will be paid a salary of $400,000 per month of service. In addition,
Mr. Shaughnessy is eligible to receive a bonus, in such amount and form payable,
subject to the discretion of the Compensation Committee of the Company's Board
of Directors.
All other terms in the Agreement remain in full force and effect. The above
summary of the Amendment does not purport to be complete in its entirety and is
qualified by reference to the full text of the Amendment, a copy of which is
attached hereto as Exhibit 10.1 and is incorporated by reference in this Current
Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
See accompanying Exhibit Index for a list of the exhibits furnished with this
Current Report on Form 8-K.
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VONAGE HOLDINGS CORP. 