Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
As previously disclosed,
Pursuant to the Retention Program, certain of the Company's employees, including
certain executive officers, will receive a cash bonus award, which vests in full
upon the earlier of the completion of a potential strategic transaction and
termination without cause, subject to continued employment through that time.
Pursuant to the Retention Program, the Company's chief financial officer,
The Company believes it will complete its review of potential strategic alternatives by the end of 2022.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This Current Report on Form 8-K contains forward-looking statements, including,
but not limited to, statements regarding the Company's belief that the Retention
Program has the potential to enable a favorable strategic alternative and the
Company's belief that it will complete its review of strategic alternatives by
the end of 2022, which are based on the Company's current expectations and
inherently involve significant risks and uncertainties. The Company's actual
results and the timing of events could differ materially from those anticipated
in such forward-looking statements as a result of these risks and uncertainties,
including the risk that the Company's Retention Program may not be successful at
retaining current employees, unanticipated difficulties with retaining current
employees, the risk that the Company may not be successful in identifying one or
more strategic alternatives or ultimately pursuing a strategic alternative that
delivers the anticipated benefits or enhances shareholder value, among other
risks and uncertainties. A further description of the risks and uncertainties
relating to the business of the Company is contained in the Company's most
recent annual report on Form 10-K and the Company's quarterly reports on Form
10-Q, as well as any amendments thereto reflected in subsequent filings with the
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