Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 36

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 36
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 to which Ms. Craig serves as our Founder and Chief Executive
Officer. Ms. Craig’s employment agreement provided for an annual base salary of $125,000 and provides that Ms. Craig will be eligible
for an annual discretionary bonus, with a target equal to 100% of her base salary, based on the achievement of certain performance objectives
established by our Board of Directors. As of July 1, 2023, Ms. Craig’s base salary was increased to $325,000 and January 1, 2025
her base salary was increased to $400,000. Ms. Craig’s employment agreement contains standard non-competition and non-solicitation
provisions. Ms. Craig is also eligible to receive additional equity-based compensation awards as the Company may grant from time to time.
Ms. Craig’s employment agreement further provides for standard expense reimbursement, vacation time and other standard executive
benefits.

Pursuant
to Ms. Craig’s employment agreement, in the event her employment is terminated without cause, due to a non-renewal by the Company,
or if she resigns for “good reason” (in each case, other than within twelve (12) months following a change in control), Ms.
Craig is entitled to (i) a cash payment equal to five (5) times the sum of her (x) annual base salary and (y) target bonus in effect
on her last day of employment; (ii) continuation of health benefits for a period of 24 months; (iii) a lump sum payment equal to the
amount of any annual bonus earned with respect to a prior fiscal year, but unpaid as of the date of termination; (iv) a lump sum payment
equal to the amount of annual bonus that was accrued through the date of termination for the year in which employment ends; and (v) subject
to Ms. Craig’s compliance with her restrictive covenants, the outstanding and unvested portion of any time-vesting equity award
that would have vested during the one (1) year period following Ms. Craig’s termination had she remained an employee shall automatically
vest upon his termination date.

In
the event that Ms. Craig’s employment is terminated due to her death or disability, she will be entitled to receive (i) a lump
sum payment equal to the amount of any annual bonus earned with respect to a prior fiscal year, but unpaid as of the date of termination;
(ii) a lump sum payment equal to the amount of