Company: AMWL
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057290
Chunk: 54

Company: American Well Corp
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 54
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 50% of the Company’s CEO), and will be eligible for an annual target bonus of 150% of his annual base salary (or if greater, 50% of the target annual cash bonus of the Company’s CEO). In addition, under the Amended and Restated Employment Agreement, Dr. Roy Schoenberg is eligible for consideration for equity grants made to other executive officers, as may be determined by the Committee or the Board, at an amount not less than 50% of the amount of such grants to the Company’s CEO. Under the Amended and Restated Employment Agreement, which also provides that if Dr. Roy Schoenberg’s employment as Executive Vice Chairman is involuntarily terminated other than for “Cause”, he may be eligible for certain benefits as described in detail under “Potential Payments Upon Termination or Change in Control” below.

The Transition Agreement provides that Dr. Roy Schoenberg will receive transition benefits equal to $1,950,000, payable on the Company’s regular payroll dates over the 36 months following the June 16, 2024 transition date. In addition, the Transition Agreement provides that the unvested RSUs that had been granted in April 2021, the remainder of which were otherwise scheduled to vest in equal quarterly installments through April 2025, would accelerate and become fully vested as of June 16, 2024.

Robert Shepardson’s Resignation as Chief Financial Officer

Mr. Shepardson resigned from his position as Chief Financial Officer effective October 18, 2024. In connection with his resignation, Mr. Shepardson forfeited all his outstanding unvested equity awards, as well as the opportunity to receive the 2024 annual cash incentive or the Retention Bonus award from August 2024.

Kurt Knight’s Termination as Chief Operating Officer and Kathy Weiler’s Termination as Executive Vice President, Chief Commercial and Growth Officer

On December 31, 2024, Mr. Knight and Ms. Weiler both terminated employment with the Company. In connection with the termination of employment for each of Mr. Knight and Ms. Weiler, the Company and each of Mr. Knight and Ms. Weiler, respectively, agreed to certain compensation arrangements, which are described in further detail under “Potential Payments Upon Termination or Change in Control” below. The terms of each of their separations were consistent with their pre-existing agreements, except that (i) each would receive payment of an amount that was equal to their target bonus for 2024