Company: ANY
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001628280-25-018222
Chunk: 56

Company: Sphere 3D Corp.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 56
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 December 1, 2023.

In March 2024, the Board approved a fiscal year 2023 annual bonus for Mr. Kalbfleisch in the amount of $180,000.

On March 27, 2024, we entered into a new employment agreement with Mr. Kalbfleisch (the “ New Kalbfleisch Employment Agreement ”), which replaces the Kalbfleisch Employment Agreement. Under the New Kalbfleisch Employment Agreement, we will pay Mr. Kalbfleisch an annual base salary of $320,000. At the discretion of our Chief Executive Officer, Mr. Kalbfleisch will be eligible to receive an annual discretionary bonus up to 75% of his base salary and additional restricted stock units based upon the achievement of certain performance and financial thresholds to be determined by our Chief Executive Officer and approved by the Board. Mr. Kalbfleisch is 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.

All compensation and unvested benefits payable under the New Kalbfleisch Employment Agreement shall terminate on the date of the termination of Mr. Kalbfleisch’s employment, unless Mr. Kalbfleisch’s employment is terminated by us without cause or by Mr. Kalbfleisch for good reason, each as defined in the New Kalbfleisch Employment Agreement, or as a result of a material breach by us of any of our obligations under the New Kalbfleisch Employment Agreement or any other agreement to which the Company and Mr. Kalbfleisch are parties, in which case Mr. Kalbfleisch shall be entitled to (i) continued payment of his base salary at the rate and schedule then in effect for a period of 18 months after the date of termination; (ii) 50% of his target bonus for a period of 18 months; (iii) continued Benefits for eight months after the date of termination, with an additional month of Benefits to be added for every completed year of service as Chief Financial Officer or if no Company health insurance plan exists, continuation of reimbursement of Mr. Kalbfleisch’s costs for the Benefits for a period of eight months, subject to a maximum reimbursement to Mr. Kalbfleisch of $25,000; and (iv) the immediate vesting of any outstanding unvested stock options or