Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
In connection with
•
continued payments of nine months of his annual base salary, equal to the sum of
•
a one-time bonus payment of
•
reimbursement of healthcare coverage payments for a period of up to nine months following the Separation Date;
•
continued payments of life insurance premiums for a period of up to nine months following the Separation Date; and
•
an additional six months of service vesting credit for each of his stock options outstanding as of the Separation Date, and all of his vested stock options, including any options so accelerated, remaining exercisable for up to a nine-month period measured from the Separation Date (or earlier expiration of the option's term).
The Separation Agreement further provides for general release and
non-disparagement provisions in favor of the Company. In addition,
The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Separation and General Release Agreement between the Company andSaiid Zarrabian , datedMay 20, 2022 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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