Company: SYRA
Filing Date: 2025-12-18
Form Type: 8-K
Source: 0001493152-25-028301
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Company: Syra Health Corp
Filing Date: 2025-12-18
Form: 8-K
Item: Item 5.02
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Item 5.02.      Departure of Directors or Certain Officers; Election of   

On
December 15, 2025, the Board of Directors of Syra Health Corp. (the “ Company”) appointed Gregory R. Alexander as Chief Executive
Officer of the Company and entered into an employment agreement with Mr. Alexander, effective January 5, 2026 (the “ Alexander Employment
Agreement”).

Under
the terms of the Alexander Employment Agreement, Mr. Alexander is entitled to receive an annual base salary of $251,000 and an annual
performance bonus with a target amount equal to 30% of his annual base salary based upon the Board’s assessment of Mr. Alexander’s
and the Company’s attainment of goals as set by the Board in its sole discretion. In accordance with the Alexander Employment Agreement,
Mr. Alexander will also be granted 110,537 restricted stock units, 20% of which vest one year after date of grant and the
remainder which vest equally over 4 years beginning one year after date of grant. Additionally, he will be granted stock options to
purchase 257,920 shares of Class B common stock with 20% vesting on December 31, 2026 and the remainder vesting equally on an annual
basis through December 31, 2030 as well as 368,458 performance stock units, subject to achievement of performance targets to be determined.
In addition, the Alexander Employment Agreement contains non-competition and non-solicitation provisions.

Pursuant
to the terms of the Alexander Employment Agreement, if Dr. Alexander’s employment is terminated by the Company for cause or as
a result of Mr. Alexander’s death or permanent disability, or if Mr. Alexander terminates his employment agreement voluntarily,
Mr. Alexander will be entitled to receive a lump sum equal to (i) any portion of unpaid base compensation then due for periods prior
to termination, (ii) any bonus earned but not yet paid through the date of his termination, and (iii) all business expenses reasonably
and necessarily incurred by Mr. Alexander prior to the date of termination. If Mr. Alexander’s employment is terminated by the
Company without cause or by Mr. Alexander for good reason, Mr. Alexander will be entitled to receive the amounts due upon termination
of his employment by the Company for cause or as a result of his death or permanent disability, or upon termination by Mr. Alexander
of his employment voluntarily, in addition to (provided that Mr. Alexander executes a written