Company: ANY
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001628280-25-018222
Chunk: 55

Company: Sphere 3D Corp.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 55
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 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 its executive management employees.

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Upon the closing of a Change of Control of the Company (as defined in the Kalbfleisch Employment Agreement), Mr. Kalbfleisch would receive a percentage ranging from 0.1% to 0.7% of the consideration received by our common shareholders based upon the amount of the transaction. In addition, 50% of any unvested restricted stock units and 50% 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 Kalbfleisch Employment Agreement would terminate on the date of the termination of Mr. Kalbfleisch’s employment, unless Mr. Kalbfleisch’s employment is terminated by us without cause or by Mr. Kalbfleisch for good reason, each as defined in the Kalbfleisch Employment Agreement, or as a result of a material breach by us of any of our obligations under the Kalbfleisch Employment Agreement or any other agreement to which the Company and Mr. Kalbfleisch are parties, in which case Mr. Kalbfleisch would be entitled to (i) continued payment of his 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 Financial Officer plus a pro-rated portion of his bonus; (ii) continued health and life insurance benefits for eight months after the date of termination; (iii) any unvested stock options and restricted stock units shall vest on the day immediately prior to the termination date; and (iv) if such termination, or expiration of the term of the Kalbfleisch Employment Agreement, occurs less than 60 days prior to a change of control, we will remain obligated to compensate Mr. Kalbfleisch for any other payments due under a change of control.

In February 2023, Mr. Kalbfleisch received 121,428 restricted stock units of the Company valued at $351,728 based upon the common share price of $2.90 on February 28, 2023, of which 20% of the shares vested on May 22, 2023 and 80% of the shares vested on