Company: ANY
Filing Date: 2025-12-22
Form Type: 8-K
Source: 0001062993-25-017451
Chunk: 0

Company: Sphere 3D Corp.
Filing Date: 2025-12-22
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement.

On December 17, 2025, Sphere 3D Corp. (the " Company") appointed Tiah Reppas as its Chief Accounting Officer. On December 17, 2025, the Company entered into an employment agreement with Ms. Reppas (the "Employment Agreement") which amends and restates the Offer Letter between the Company and Ms. Reppas, dated April 7, 2025, in its entirety. Pursuant to the Employment Agreement, the Company will pay Ms. Reppas an annual base salary of $280,000. At the discretion of the Company's board of directors (the "Board"), Ms. Reppas will be eligible to receive an annual discretionary bonus up to 60% of her base salary, and additional restricted stock units based upon the achievement of certain performance and financial thresholds to be determined by the Board. Ms. Reppas is also entitled to participate in any employee benefit plans we may from time to time have in effect for any of our executive management employees.

All compensation and unvested benefits payable under the Employment Agreement shall terminate on the date of the termination of Ms. Reppas's employment, unless Ms. Reppas's employment is terminated by us without cause or by Ms. Reppas for good reason, each as defined in the Employment Agreement, or as a result of a material breach by us of any of our obligations under the Employment Agreement or any other agreement to which the Company and Ms. Reppas are parties, in which case Ms. Reppas shall be entitled to (i) continued payment of her base salary at the rate and schedule then in effect for a period of six months after the date of termination; (ii) 25% of her target bonus for a period of six months; (iii) continuation of certain benefits for six months after the date of termination; and (iv) the immediate vesting of any outstanding unvested stock options, restricted stock units or other stock awards that vest within 12 months after the date of termination.

In the event the Company consummates a significant corporate transaction, as determined by the CEO (the "Transaction") and Ms. Reppas' employment with the Company remains in good standing, she will be eligible to receive a one-time bonus of $75,000, payable to her within 60 days of the closing date of the Transaction.

In connection with the Employment Agreement, on December