Company: CTLPP
Filing Date: 2025-07-11
Form Type: PREM14A
Source: 0001140361-25-025663
Chunk: 112

Company: CANTALOUPE, INC.
Filing Date: 2025-07-11
Form: PREM14A
Chunk 112
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 apply for a one-year period following any termination.

Jared Grachek’s Offer Letter

Mr. Grachek entered into an offer letter with Cantaloupe in connection with his appointment as our Chief Accounting Officer effective as of May 15, 2023. The offer letter does not contain any severance commitments.

Mr. Grachek’s offer letter does contain customary restrictive covenants, including perpetual confidentiality covenants, as well as a non-solicit of customers, non-solicit of employees (including a no-hire) and non-compete that each apply for a one-year period following any termination.

Compensation Increases

Between June 15, 2025 and closing of the Merger, Cantaloupe may modify the compensation of current employees in the ordinary course of business consistent with past practice by: (i) increasing annual base salaries (and target bonuses as a result of the corresponding increase in base salaries to the extent the target bonus is stated as a percentage of annual base salary) at the end of the fiscal year in an amount that does not exceed 4% of the applicable employee’s annual base salary on a year-over-year basis; and (ii) making annual modifications to health and welfare plans for the 2026 plan year that do not materially increase the cost to Cantaloupe of maintaining such health and welfare plans. For the avoidance of doubt, such 4% cap will be inclusive of all annual base salary increases implemented by Cantaloupe after the date of the Merger Agreement, including, in respect of Cantaloupe’s ordinary course annual merit cycle and promotion.

Annual Bonus Payments

Under the Merger Agreement, Cantaloupe will pay fiscal year 2025 annual bonuses in the ordinary course of business consistent with past practices based on actual level of performance attained. If the closing of the Merger occurs in

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fiscal year 2026 but prior to the date on which Cantaloupe ordinarily would have paid fiscal year 2025 annual bonuses in the ordinary course of business consistent with past practice, Cantaloupe will, on the business day immediately preceding the closing of the Merger, pay fiscal year 2025 annual bonuses based on the actual level of performance attained.

Between June 15, 2025 and closing of the Merger, Cantaloupe may award 2026 annual bonuses to employees of Cantaloupe and its subsidiaries in the ordinary course of