Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 24, 2022, Jonathan Harvey, SVP and Head of People, notified a.k.a.
Brands Holding Corp. (the "Company") of his intention to step down as an officer
of the Company effective upon January 31, 2022 (the "Separation Date").
Mr. Harvey has entered into a Severance Agreement and General Release of Claims
(the "Severance Agreement") which provides for certain payments in exchange for
Mr. Harvey's release of claims in favor of the Company and adherence to various
restrictive covenants, including a non-disparagement clause and a 12-month
non-solicit of customers and employees. Pursuant to the terms of the Severance
Agreement, Mr. Harvey will be entitled to receive (i) a one-time lump sum
payment equal to six months of pay at Mr. Harvey's base salary rate as of the
Separation Date and (ii) a one-time lump sum payment representing Mr. Harvey's
annual bonus earned for the fiscal year ended December 31, 2021.
The Severance Agreement also contemplates the incentive equity award granted to
Mr. Harvey on June 3, 2019, will vest in accordance with the terms of such
related incentive award agreement through the Separation Date, after which any
remaining unvested equity award will be forfeited.
The foregoing summary of the Severance Agreement does not purport to be complete
and is qualified in its entirety by reference to the Severance Agreement, a copy
of which is filed as Exhibit 10.1 hereto and is incorporated by reference
herein.
Effective January 31, 2022, the board of directors of the Company appointed
Paige Gruemmer as acting Chief People Officer, to serve on an interim basis.
Prior to joining the Company, Ms. Gruemmer served as the Chief People Officer
for Rodan + Fields, a leading U.S. skincare brand with offices in Australia,
Canada and Japan, from 2013-2020. She previously served as the Global Human
Resources Executive Officer of Visa from 2002-2012. Ms. Gruemmer received a
Juris Doctor from the University of Michigan Law School and a Bachelor of Arts
in English and Economics from Vanderbilt University.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of this report:
Exhibit No. Description
10.1 Exhibit 10.1 - Severance Agreement and General Release of Claims, effective
as of January 31, 2022, by and between the Company and Jonathan Harvey .
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