Company: CPSH
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001437749-25-008032
Chunk: 30

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 30
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 equity incentive awards granted to our named executive officers, see the disclosure below. For more information on compensation generally and information on severance and change of control rights, see the Compensation Discussion and Analysis section above.

Employment Agreements

As previously described, Mr. Mackey has an employment agreement which provides for 12 months of salary continuation in the event of Mr. Mackey’s qualifying termination, including termination by the Company without cause. During the Mackey Salary Continuation Period, so long as COBRA continuation coverage is timely and properly elected by Mr. Mackey, the Company has agreed to reimburse Mr. Mackey for the Company paid portion for the cost of coverage that is in effect for the Mackey Salary Continuation Period, which reimbursements shall continue until the earlier of (i) the end of the Mackey Salary Continuation Period and (ii) the termination of Mr. Mackey’s COBRA continuation coverage. Further, in the event of a change of control or change in control termination and subject to certain requirements, any outstanding and unvested stock options held by Mr. Mackey at that time shall accelerate in full so that all outstanding and unvested stock options shall become vested. The Employment Agreement also provides for indemnification of Mr. Mackey under certain circumstances.

Mr. Griffith has a change of control agreement. The COC Agreement provides for 12 months of salary continuation in the event of Mr. Griffith’s termination in connection with a change of control of the Company. During the Griffith Salary Continuation Period, so long as COBRA continuation coverage is timely and properly elected by Mr. Griffith, the Company has agreed to reimburse Mr. Griffith for the Company paid portion for the cost of coverage that is in effect for the Griffith Salary Continuation Period, which reimbursements shall continue until the earlier of (i) the end of the Griffith Salary Continuation Period and (ii) the termination of Mr. Griffith’s COBRA continuation coverage. Further, in the event Mr. Griffith is terminated in connection with a change of control and subject to certain requirements, any outstanding and unvested stock options held by Mr. Griffith at that time shall accelerate in full so that all outstanding and unvested stock options shall become vested. The COC Agreement also provides for indemnification of Mr. Griffith under certain circumstances.

Mr. Barton has a change of control agreement. The COC Agreement provides for 12 months of salary continuation in the event of Mr. Barton’s termination in connection with a change of control of the