Company: DERM
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041214
Chunk: 32

Company: Journey Medical Corp
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 32
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as such terms are defined in the Maraoui Employment Agreement) he will receive: (i) his Base Salary for a period of twelve (12) months beginning on the sixtieth (60th) day following the termination of his employment with the Company; (ii) a pro- rata share of any Annual Milestone Bonus otherwise earned for the year in which the termination occurred, to be paid shortly following the year in which such termination occurs; and (iii) if timely elected, the premiums necessary to continue health insurance coverage under COBRA for 12 months or until Mr. Maraoui becomes eligible for group health insurance coverage under another employer’s plan, whichever occurs first. Termination due to Death or Complete Disability. If Mr. Maraoui’s employment terminates as a result of his death or “complete disability” (as defined in the Maraoui Employment Agreement), then he (or his estate, if applicable) will receive: (i) his Base Salary (at the rate in effect as of the termination) for a period of ninety (90) days beginning on the sixtieth (60th) day following the termination of his employment with the Company, and (ii) a pro-rata share of any Annual Milestone Bonus otherwise earned for the year in which the termination occurred, to be paid shortly following the year in which such termination occurs. Employment Arrangements with Joseph Benesch On April 26, 2024, Mr. Benesch was appointed as the Company’s Chief Financial Officer. Mr. Benesch’s annual salary rate for 2024 was $309,000, which has since been increased to $318,270. Mr. Benesch’s compensation is composed of an annual salary and a cash bonus opportunity linked to the attainment of certain financial, compliance, and capital funding milestones, which may result in an annual milestone bonus of up to forty percent (40%) of Mr. Benesch’s annual salary. During 2024, Mr. Benesch earned ninety-five percent (95%) of the target amount for the cash bonus, based on the achievement of goals and objectives related to EBITDA and financial results, cash, treasury, collections and accounts receivable management and overall financial management that were approved by the Company’s compensation committee. Performance Bonus Opportunity / Bonus and Non-Equity Incentive Compensation Opportunity In addition to base salaries, our named executive officers are eligible to receive annual performance- based cash bonuses, which are designed to provide appropriate incentives to our executives to achieve defined annual corporate goals and to