Company: ANY
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001628280-25-015485
Chunk: 56

Company: Sphere 3D Corp.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 56
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 (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 stock awards.

Upon the occurrence of a Change of Control (as defined in the New Kalbfleisch Employment Agreement) that results in Mr. Kalbfleisch’s termination, Mr. Kalbfleisch shall help transition his duties for a three-month period following his termination date if requested by us.

Under the New