Company: SONM
Filing Date: 2025-10-20
Form Type: 8-K
Source: 0001493152-25-018637
Chunk: 2

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-20
Form: 8-K
Item: Item 3.01
Chunk 2
---
  

Executive
Chairman Employment Agreement

In
connection with Mr. Mulica’s appointment as Executive Chairman, the Company and Mr. Mulica entered into an employment agreement,
dated as of October 16, 2025 (the “ Employment Agreement”), pursuant to which Mr. Mulica commenced service as the Company’s
Executive Chairman of the Board at the Effective Time.

The
term of employment under the Employment Agreement is for one (1) year, and will automatically renew for successive one-year periods
unless either party provides at least ninety (90) days’ advance written notice of non-renewal.

For
his service as Executive Chairman, the Company shall pay Mr. Mulica an annual base salary of $300,000 (the “ Base Salary”).
Mr. Mulica is also entitled to receive an annual grant of $250,000 in restricted stock units (the “ Annual Grant”) under the
Sonim Technologies, Inc. 2019 Equity Incentive Plan (the “ EIP”). The Annual Grant will vest in equal quarterly installments
over a two-year period, with such installments vesting on each quarterly anniversary of the date of grant. Additionally, Mr. Mulica is
also entitled to receive a grant of $500,000 in restricted stock units (the “ Asset Purchase Award”) under the EIP, vesting
upon the consummation of that certain asset purchase agreement by and among the Company, Pace Car Acquisition LLC, the Seller Representative
named therein, and Social Mobile Technology Holdings LLC.

If,
at the grant date of any Annual Grant or the Asset Purchase Award, the amount of shares of the Company’s outstanding common
stock (“ Common Stock”) available under the EIP is not sufficient to issue the restricted stock units pursuant to the Employment
Agreement, then, in lieu of the Annual Grant and the Asset Purchase Award, the Company shall issue a cash award (the “ Substitute
Cash Grant”) to Mr. Mulica. The Substitute Cash Grant will be determined using the following methodology:

  Assuming                                                                                      
  Assuming                                                                                      
  The                                                                                           

In
addition to the aforementioned compensation received for service as the Executive Chairman, Mr. Mulica is also entitled to receive the
same compensation as he would have been entitled to receive in his capacity as an independent chairman of the Board, including annual
fees and restricted stock unit grants, pursuant to the Company’s Non-Employee Director Compensation Policy.

On
a termination of Mr. Mulica’s service by the Company without “