Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 17, 2021, the compensation committee of the board of directors of
Applied Genetic Technologies Corporation (the "Company") approved additional
compensation to be provided to Stephen W. Potter, the Company's Chief Business
Officer, pursuant to a First Amendment to Employment Agreement with Mr. Potter
(the "Amendment"). Under the terms of the Amendment, Mr. Potter will receive an
additional payment of $10,000 per month, effective beginning on July 1, 2021 and
continuing through June 30, 2022, subject to Mr. Potter's continued employment
with the Company. The payments will accrue on a monthly basis and be payable by
the Company to Mr. Potter on a quarterly basis, with the payment of the
aggregate amount accrued during each fiscal quarter payable during the first
month following the applicable quarter.
The Amendment also provides that Mr. Potter will be granted restricted stock
units ("RSUs") representing the contingent right to receive, upon vesting of
each unit, one share of the Company's common stock, par value $0.001 per share,
pursuant to and in accordance with the Company's 2013 Equity and Incentive Plan.
The RSUs vest in two installments, with 75% vesting on June 30, 2022 and the
remaining 25% vesting on December 31, 2022, subject to Mr. Potter's continued
engagement with the Company as of each vesting date.
The foregoing summary of the Amendment is not complete and is qualified in its
entirety by reference to the full text of the Amendment, a copy of which is
attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated
herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 First Amendment to Employment Agreement by and between the
Company and Stephen W. Potter, dated as of June 17, 2021.
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APPLIED GENETIC TECHNOLOGIES CORPORATION 
