Company: SOBR
Filing Date: 2025-05-13
Form Type: 8-K
Source: 0001477932-25-003641
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Company: SOBR Safe, Inc.
Filing Date: 2025-05-13
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry

into a Material Definitive Agreement.

Effective May 1, 2025, Ms. Kris Pederson was appointed a director of SOBR Safe, Inc. (the “ Company”) by the Board of Directors of the Company (the “ Board”) to fill a vacancy created by the departure of Noreen Butler as a director of the Company on April 21, 2025. In addition to serving on the Board, she has also been appointed as chairperson of the Company’s Nominating and Corporate Governance Committee. Ms. Pederson is eligible to earn, in line with compensation to the other directors, on an annual basis, cash compensation of up to $20,000 for services as a director, and $5,000 per year as chair of the Governance Committee. Ms. Pederson is also eligible to receive options to acquire shares of common stock of the Company worth up to $30,000 pursuant to the Company’s 2019 Equity Incentive Plan (the “ Plan”) and options pursuant to the Plan worth up to $40,000, if the Company meets certain targets.

In connection with the Employment Agreement between the Company and Chris Whitaker as described in Item 5.02 below, the Company and Mr. Whitaker entered into an indemnification agreement effective May 5, 2025 (the “ Indemnification Agreement”), whereby the Company is generally required to indemnify Mr. Whitaker as an officer of the Company against any and all expenses, damages, losses, liabilities, judgments, fines, and other charges paid or payable in connection with investigating, defending, or participating in any proceeding actually and reasonably incurred by him if he was or is a party to or participant in, or is threatened to be made a party to or participant in any proceeding by reason of the fact that he is or was an agent of the Company, or by reason of anything done or not done by him in any such capacity, if he acted with the appropriate standard of care.

In addition, the Indemnification Agreement provides for the advancement of expenses incurred by Mr. Whitaker as an officer of the Company in defending against any such proceeding. The Indemnification Agreement sets out, among other things, the process for determining entitlement to indemnification, the conditions to advancement of expenses, the procedures for enforcement of indemnification rights, the limitations on indemnification and requirements relating to the notice and defense of claims for which indemnification is sought.

The foregoing summary of the terms