Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 170

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 170
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(1) 

    (1)
    Effective
    November 17, 2023, Neev Nissenson resigned from his position as CFO.

20

Bonuses

Any
bonuses granted in the future will relate to meeting certain performance criteria that are directly related to areas within the named
executive’s responsibilities with the Company. As we continue to grow, more defined bonus programs may be established to attract
and retain our employees at all levels.

Employment
Contracts

In
February 2020, we entered into an employment agreement with Mr. Lustgarten, the Company’s CEO, (the “Lustgarten Agreement”)
pursuant to which Mr. Lustgarten shall continue to serve as the Company’s CEO. The Lustgarten Agreement has a four-year term and
automatically renews for additional one-year periods unless either-party elects to terminate the Lustgarten Agreement. Pursuant to the
Lustgarten Agreement, the Company shall pay Mr. Lustgarten an annual base salary of $560,000. Mr. Lustgarten shall also be eligible to
receive i) equity awards pursuant to the Company’s Equity Incentive Plans and ii) certain milestone bonuses as set forth in the
Lustgarten Agreement. In the event Mr. Lustgarten’s employment is terminated by Mr. Lustgarten for good reason, or terminated by
the Company without cause, Mr. Lustgarten shall be entitled to the greater of (i) the unpaid base salary or (ii) one year’s base
salary.

At
the sole discretion of our Board, all officers are entitled to merit-based cash and equity bonuses.

Director
Compensation

    Name 
    Year  
    Fees Earned
                                            or Paid in Cash
                                            ($)  
    Stock
                                                                                Awards  
    Option1
                                                                                 Awards  
    Non-Equity
    Incentive Plan Compensation  
    Nonqualified Deferred Compensation  
    All
                                            Other Compensation  
    Total 
  
    In
    thousands 

    Yaron
    Shalem (1) 
    2024  
     24  
     -  
            -  
          -  
          -  
           -  
     24 

    2023  
     24  
     -  
     46