Company: FORA
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001140361-25-016300
Chunk: 28

Company: Forian Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 28
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 an offer letter with Mr. Wygod setting forth the terms of his employment. Pursuant to the offer letter, Mr. Wygod is entitled to a base salary of $75,000, which amount is subject to annual review by and at the sole discretion of our Board and our Compensation Committee. Mr. Wygod also received a grant of profits interest in MOR equal to 307,963 Class B membership units of MOR. Mr. Wygod’s employment is at-will and may be terminated at any time for any reason by Mr. Wygod or us. If Mr. Wygod is terminated, he is entitled to receive (i) the then current base salary earned through the date of termination; (ii) any unpaid expense reimbursement owed; and (iii) any amount earned, accrued and arising from participation in, or benefits accrued under, any employee benefit plan or program, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans and programs. Spaniel Employment Agreement On March 1, 2021, we entered into an employment agreement with Mr. Spaniel setting forth the terms of his employment as our Executive Vice President, General Counsel and Secretary. Pursuant to the agreement, Mr. Spaniel is entitled to an annual base salary of $300,000, which amount is subject to annual review by and at the sole discretion of our Board or our Compensation Committee. Mr. Spaniel is eligible to receive an annual cash bonus equal to or exceeding 30% of his base salary, provided that he achieves performance targets determined by our Board or our Compensation Committee. Under the employment agreement, Mr. Spaniel also received a grant of 100,000 restricted stock units, which vest in four equal annual installments beginning on March 1, 2022, and 385,000 non-qualified stock options to purchase common stock of the Company, which vests twenty-five percent on March 1, 2022 and seventy-five percent in thirty-six equal monthly installments thereafter. The employment agreement has a term commencing on the date thereof and continuing until terminated (i) upon death of the employee; (ii) upon disability; (iii) for Cause (as defined in the agreement); (iv) with Good Reason (as defined in the agreement) or without Cause; or (v) voluntarily. The employment agreement also contains, among other things, the following material provisions: (i) reimbursement for all reasonable travel and other out-of-pocket expenses incurred in connection with his employment; (ii)