Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 99

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 99
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 control
agreements, the term “good reason” means (i) a material diminution in the annual base salary of such named executive officer,
other than across-the-board decreases in annual base salaries similarly affecting all executives of the Company; (ii) in the case
of Mr. Liu and Mr. Crolius, the Company requiring such named executive officers to relocate (other than for travel
incident to the named executive officer’s performance of duties on behalf of the Company) a distance of more than fifty (50) miles
(or, in the case of Mr. Becher, thirty (30) miles) from the named executive officer’s current principal place of business; (iii)
any material diminution in the named executive officer’s position, responsibilities, authority, or duties; (iv) in the case
of Mr. Mulica, any material breach by the Company of the applicable severance and change in control agreement; and (v) in the
case of Mr. Mulica, the Company’s failure to obtain an agreement from any successor to the Company to assume and agree to perform
the applicable severance and change in control agreement in the same manner and to the same extent that the Company would be required
to perform if no succession had taken place..

Additionally, Mr. Mulica and Mr. Crolius are
entitled to cash bonuses contingent upon and payable as of the consummation of the Asset Sale.

The estimated payments that would be provided
to each of Mr. Liu, Mr. Crolius, and Mr. Mulica, upon a termination of employment that occurs at any time up to the twelve-month anniversary
(or, in the case of Mr. Becher, the thirteen-month anniversary) of a change in control of the Company, such as the Asset Sale, are quantified
in the table provided under “— Golden Parachute Compensation” below, assuming termination
of employment takes place on December 30, 2025.

Following the Asset Sale, the Company maintains
the obligation to pay the benefits provided for under these arrangements.

Compensation Arrangements with the Buyer

As of the date of this proxy statement, there
are no new employment, equity, or other arrangements or understandings between any executive officer or non-employee director of the
Company, on the one hand, and the Buyer or Parent, on the other hand. The Asset Sale is not conditioned upon any named executive officer
or non-employee director of the Company entering into any such arrangement or understanding. Prior