Company: ANY
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001628280-25-015485
Chunk: 52

Company: Sphere 3D Corp.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 52
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 completed year of service as Chief Executive Officer; and (iii) any unvested stock options and restricted stock units shall vest on the day immediately prior to the termination date.

In February 2023, Ms. Trompeter received 138,250 restricted stock units of the Company valued at $400,455 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 December 1, 2023.

On January 15, 2024, at the recommendation of NFP, the Compensation Committee’s independent compensation consultant, the Company entered into a new employment agreement with Ms. Trompeter (the “ New Employment Agreement ”), which replaced the Trompeter Employment Agreement. Under the New Employment Agreement, the Company paid Ms. Trompeter an annual base salary of $450,000 (the “ New Salary ”). At the discretion of the Board, Ms. Trompeter was eligible to receive an annual discretionary bonus up to 150% of her base salary and additional restricted stock units based upon the achievement of certain performance and financial thresholds to be determined by the Board. 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. On March 18, 2024, the New Employment Agreement was amended to reduce Ms. Trompeter’s base salary to $350,000 with the balance to be accrued and payable

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upon written request of Ms. Trompeter. In November 2024, at Ms. Trompeter’s request, the Company restored her New Salary and paid the accrued balance.

Upon the occurrence of a Change of Control (as defined in the New Employment Agreement), or if the Change of Control occurs within eight months after the termination of Ms. Trompeter’s employment (i) by us without Cause, (ii) by Ms. Trompeter for Good Reason (each as defined in the New Employment Agreement), or (iii) because of death, Ms. Trompeter shall be entitled to receive from 1.5 to 2 times her base salary and bonus depending on the transaction value ranging from $20 million to $65 million. Any un