Item 5.02(e)Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Ravich Sale Bonus Release Agreement
On April 16, 2022, in connection with completion of the previously announced
sale of all of the outstanding shares of common stock of Phoenix Color Corp.
(the "Phoenix Color Sale") by ALJ Regional Holdings, Inc. (the "Company"), the
Company and Jess Ravich entered into that certain Sale Bonus Release Agreement
(the "Ravich Release Agreement"), pursuant to which the Company agreed to pay to
Mr. Ravich a bonus payment in the amount of $1.6 million, less any applicable
federal, state and local tax and other withholdings (the "Ravich Sale Bonus"),
in full settlement and satisfaction of Mr. Ravich's rights under Section 3 of
Appendix A to that certain existing First Amended and Restated Employment
Agreement, dated June 21, 2020 (the "Ravich Employment Agreement") with the
Company (the "Ravich Bonus Provisions"). Mr. Ravich acknowledged and agreed that
the amounts payable under the Ravich Bonus Provisions were voluntarily waived by
him in connection with the payment of the Ravich Sale Bonus and agreed to
provide a general release of the Company and its affiliates or subsidiaries from
claims relating to the Ravich Bonus Provisions and the Ravich Sale Bonus.
The foregoing description of the Ravich Release Agreement does not purport to be
complete and is qualified in its entirety by reference to the Ravich Release
Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated
herein by reference, and to the Ravich Employment Agreement, which was filed as
Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the SEC on
June 23, 2020.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Sale Bonus Release Agreement, dated April 16, 2022, by and between
ALJ Regional Holdings, Inc. and Jess Ravich
104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101.INS)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
ALJ REGIONAL HOLDINGS, INC. 
