Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed in the Original Form 8-K, Mr. Griggs departed from the
Company on November 10, 2022.
In connection with his promotion to CAO, Mr. Welling will become a participant
in the Company's Vice President Change of Control and Severance Plan and will
receive the following compensation: (i) $280,000 annual base salary, (ii) short
term incentive bonus target of 45% of annual base salary, (iii) long term
incentive target of 85% of annual base salary, and (iv) other benefits
consistent with those provided to other vice presidents within the Company.
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