Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 396

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 396
---
erman (2) 
     120,000  
     -  
     120,000 
  
    Jeffrey Shuman (3) 
     23,889  
     10,000  
     33,889 
  
    Lavanson Coffey III (4) 
     17,222  
     -  
     17,222 

     340,278  
     89,167  
     429,445 

    (1)
    Mr.
    Riera served as chairman of the board from September 2023 through July 2024.

    (2)
    Mr.
    Berman joined the company as a non-independent director in January 2024 and left the company as of January 2025.

    (3)
    Mr.
    Shuman joined the company as a director in July 2024.

    (4)
    
    Mr.
    Coffey joined the company as a director in August 2024.

64

Employment
Agreements

In
December 2021, we entered into an employment agreement with Ms. Craig, pursuant to which Ms. Craig serves as our Founder and Chief Executive
Officer. Ms. Craig’s employment agreement provided for an annual base salary of $125,000 and provides that Ms. Craig will be eligible
for an annual discretionary bonus, with a target equal to 100% of her base salary, based on the achievement of certain performance objectives
established by our Board of Directors. As of July 1, 2023, Ms. Craig’s base salary was increased to $325,000 and January 1, 2025
her base salary was increased to $400,000. Ms. Craig’s employment agreement contains standard non-competition and non-solicitation
provisions. Ms. Craig is also eligible to receive additional equity-based compensation awards as the Company may grant from time to time.
Ms. Craig’s employment agreement further provides for standard expense reimbursement, vacation time and other standard executive
benefits.

Pursuant
to Ms. Craig’s employment agreement, in the event her employment is terminated without cause, due to a non-renewal by the Company,
or if she resigns for “good reason” (in each case, other than within twelve (12) months following a change in control), Ms.
Craig is entitled to (i) a cash payment equal to five (5) times the sum of her (x)