Company: ANY
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001628280-25-015485
Chunk: 51

Company: Sphere 3D Corp.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 51
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 Control Agreements

Patricia Trompeter . Ms. Trompeter served as our Chief Executive Officer from April 5, 2022 until her passing on March 4, 2025. On April 8, 2022, we entered into an employment agreement with Ms. Trompeter (the “ Trompeter Employment Agreement ”). The Trompeter Employment Agreement was effective as of April 8, 2022 through January 14, 2024.

Under the Trompeter Employment Agreement, we paid Ms. Trompeter an annual base salary of $350,000. At the discretion of the Board, Ms. Trompeter was eligible to receive an annual bonus up to 100% of her base salary. Ms. Trompeter was also entitled to health insurance benefits and to participate in any employee benefit plans, life insurance plans, disability income plans, retirement plans, expense reimbursement plans and other benefit plans that we may from time to time have in effect for any of our executive management employees.

Upon the closing of a Change of Control of the Company (as defined in the Trompeter Employment Agreement), Ms. Trompeter would receive a percentage ranging from 2.0% to 3.0% of the consideration received by the Company’s common shareholders based upon the amount of the transaction. In addition, 60% of any unvested restricted stock units and 60% of any unvested stock options would immediately vest as of the day immediately prior to the change of control.

All compensation and unvested benefits payable under the Trompeter Employment Agreement terminated on the date of the termination of Ms. Trompeter’s employment, unless Ms. Trompeter’s employment was terminated by us without cause or by Ms. Trompeter for good reason, each as defined in the Trompeter Employment Agreement, or as a result of a material breach by us of any of our obligations under the Trompeter Employment Agreement or any other agreement to which the Company and Ms. Trompeter are parties, in which case Ms. Trompeter would be entitled to (i) continued payment of her base salary at the rate and schedule then in effect for a period of six months after the date of termination, with an additional month of severance to be added for every completed year of service as Chief Executive Officer; (ii) continued health and life insurance benefits (“ Benefits ”) for six months after the date of termination, with an additional month of Benefits to be added for every