Company: DERM
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001104659-25-036338
Chunk: 31

Company: Journey Medical Corp
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 31
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 for a period of twelve (12) months beginning on the sixtieth (60th) day following the termination of his employment with the Company; (ii) a pro- rata share of any Annual Milestone Bonus otherwise earned for the year in which the termination occurred, to be paid shortly following the year in which such termination occurs; and (iii) if timely elected, the premiums necessary to continue health insurance coverage under COBRA for 12 months or until Mr. Maraoui becomes eligible for group health insurance coverage under another employer’s plan, whichever occurs first. Termination due to Death or Complete Disability. If Mr. Maraoui’s employment terminates as a result of his death or “complete disability” (as defined in the Maraoui Employment Agreement), then he (or his estate, if applicable) will receive: (i) his Base Salary (at the rate in effect as of the termination) for a period of ninety (90) days beginning on the sixtieth (60th) day following the termination of his employment with the Company, and (ii) a pro-rata share of any Annual Milestone Bonus otherwise earned for the year in which the termination occurred, to be paid shortly following the year in which such termination occurs. Employment Arrangements with Joseph Benesch On April 26, 2024 Mr. Benesch was appointed as the Company’s Chief Financial Officer. Mr. Benesch’s annual salary rate for 2024 was $309,000, which has since been increased to $318,270. Mr. Benesch’s compensation is composed of an annual salary and a cash bonus opportunity linked to the attainment of certain financial, compliance, and capital funding milestones, which may result in an annual milestone bonus of up to forty percent (40%) of Mr. Benesch’s annual salary. During 2024, Mr. Benesch earned ninety-five percent (95%) of the target amount for the cash bonus, based on the achievement of goals and objectives related to EBITDA and financial results, cash, treasury, collections and accounts receivable management and overall financial management that were approved by the Company’s compensation committee. Performance Bonus Opportunity / Bonus and Non-Equity Incentive Compensation Opportunity In addition to base salaries, our named executive officers are eligible to receive annual performance- based cash bonuses, which are designed to provide appropriate incentives to our executives to achieve defined annual corporate goals and to reward our executives for individual achievement towards these goals. The annual performance-based bonus each named executive officer is eligible to receive