Company: VUZI
Filing Date: 2025-09-08
Form Type: 8-K
Source: 0001104659-25-088065
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Company: Vuzix Corp
Filing Date: 2025-09-08
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On September 3, 2025, Vuzix Corporation (the
“ Company”) entered into an employment offer letter with Chris Parkinson, PhD., the newly appointed president of the
Company’s Enterprise Solutions business unit. Pursuant to the employment offer letter, Dr. Parkinson will receive an annual
base salary of $360,000 and will participate in the Company’s management bonus plan and Laddered Long-term Equity Incentive
Plan. Mr. Parkinson will also receive 150,000 restricted stock awards (“ RSAs”), which will vest in equal portions
quarterly over 12 months and 1,000,000 performance stock units (“ PSUs”), whose vestisng will be subject to the
achievement of certain revenue and EBITDA targets of the Company’s Enterprise Solutions business unit by December 31,
2028.

In the event Dr. Parkinson is
terminated from the Company without cause, he will receive 12 months’ severance.

In the event there is a Change of Control transaction
of the Company, as defined under the Company’s 2023 Equity Incentive Plan, Dr. Parkinson’s unvested RSAs or PSUs will accelerate
as per the terms of those awards...

Item 9.01 Financial Statements and Exhibits.