Company: SWKH
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001628280-25-020718
Chunk: 21

Company: SWK Holdings Corp
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 21
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 covered family members for 12 months following such termination of employment (or 18 months, if such termination occurs within one year following a Change in Control), (iv) a pro rata Staggs Annual Bonus for the fiscal year in which Mr. Staggs’ termination of employment occurs based on actual results for such year; and (v) Mr. Staggs’ outstanding equity awards will be treated in accordance with the Company’s applicable equity plan and award agreements, unless a more generous treatment is approved by the Board or the compensation committee.

Any severance benefit payable under the Staggs Employment Agreement will be subject to Mr. Staggs’ timely execution and non-revocation of a release of claims. Mr. Staggs will also be bound by confidentiality, intellectual property assignment and restrictive covenants (including an agreement not to compete with the Company or its affiliates, and not to solicit the employees and customers of the Company and its affiliates, during his employment and for 12 months thereafter).

Adam Rice

Adam Rice was appointed the Company's Chief Financial Officer effective July 1, 2024, following Yvette Heinrichson resignation from the role. In connection with Mr. Rice's appointment as Chief Financial Officer, the Board approved the following compensation for Mr. Rice: (i) an annual base salary of $302,500, (ii) an incentive cash bonus target amount of 60% of Mr. Rice’s annual base salary and (iii) a grant of shares of restricted stock made on July 3, 2024 (the “Grant Date”), pursuant to the Company’s 2010 Equity Incentive Plan, as amended (the “2010 Plan”), with a fair market value of $100,000 as of the Grant Date, vesting 25% on each of the first four anniversaries of the Grant Date, subject to Mr. Rice’s continued employment and the terms and conditions of the 2010 Plan and the award agreements thereunder. The Company and Mr. Rice entered into an employment agreement effective as March 7, 2025 (the “Rice Employment Agreement”).

Pursuant to the Rice Employment Agreement, Mr. Rice (i) will have an initial annual base salary will be $311,575 (the “Rice Base Salary”), (ii) will be eligible for an annual cash bonus with a target opportunity of 60% of Rice Base Salary (the “Rice Annual Bonus”) and (iii) will be eligible for annual