Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 1, 2021, the Company and Ramin Massoumi, the Company's Senior Vice
President & General Manager, Consulting Solutions, agreed that he would cease to
serve as an employee of the Company effective December 31, 2021.
In connection with and upon Mr. Massoumi's departure, the Company and Mr.
Massoumi expect to enter into a severance and release agreement (the "Severance
Agreement"). The Severance Agreement provides that, subject to Mr. Massoumi
executing a general release in favor of the Company and otherwise complying with
the terms of the Severance Agreement, Mr. Massoumi will receive a severance
package in line with the Company's existing executive severance plan following
his separation from employment, including Mr. Massoumi's current annual base
salary of approximately $288,000, less applicable taxes and withholding, paid in
equal installments for a 12 month period in accordance with the Company's normal
payroll practices, and COBRA premiums reimbursement for up to a 12 month period.
Mr. Massoumi will also make himself available for consulting to the Company for
up to six months, and his outstanding equity awards will continue to vest over
that period.
The foregoing description of the Severance Agreement is qualified in its
entirety by reference to the complete text of the Severance Agreement, which
will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for
the quarter ended December 31, 2021.
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