Company: SNWV
Filing Date: 2025-07-10
Form Type: DEF 14A
Source: 0001140361-25-025486
Chunk: 41

Company: SANUWAVE Health, Inc.
Filing Date: 2025-07-10
Form: DEF 14A
Chunk 41
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 by either the Company or Mr. Frank, respectively, for any reason, provided that Mr. Frank must provide at least 60 days’ prior notice of his resignation, or (ii) Mr. Frank’s death or disability. Moreover, during the term of his employment and for a period of one year thereafter, Mr. Frank agreed (i) not to perform services for or have any interest in any competitive business and (ii) not to solicit (a) our current or former employees or independent contractors or (b) actual or prospective customers, clients, vendors, service providers, suppliers, or contractors. Finally, the Frank Employment Agreement also includes customary confidentiality and non-disparagement provisions. Offer Letter with Mr. Walko Effective July 31, 2023, the Board appointed Andrew Walko as the Company’s President. In connection with his appointment as President, the Company and Mr. Walko entered into an offer letter, dated July 20, 2023 (the “Walko Offer 26

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Letter”). Pursuant to the Walko Offer Letter, Mr. Walko (i) receives an annual base salary of $230,000, (ii) is eligible to earn an annual bonus of 25% of his base salary, based on the achievement of performance goals established by the Company, and (iii) received an option grant. Offer Letter with Ms. Gilmore Effective January 23, 2023, Nanci Gilmore joined the Company as Vice President Commercial Strategy. The Company and Ms. Gilmore entered into an offer letter, dated January 11, 2023 (the “Gilmore Offer Letter”). Pursuant to the Gilmore Offer Letter, Ms. Gilmore (i) receives an annual base salary of $225,000, (ii) is eligible to earn an annual bonus of 50% of her base salary, based on the achievement of performance goals established by the Company, (iii) received an option grant, and (iv) is eligible for cash severance in the amount equal to five months of base salary at the rate in effect on the termination date. On May 30, 2025, Ms. Gilmore was terminated without cause, effective as of the same date. Pursuant to the Gilmore Offer Letter, subject to her execution, delivery and non-revocation of a release of claims and her compliance with the restrictive covenants in the Gilmore Offer Letter, Ms. Gilmore is entitled to receive an aggregate of $