Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
• Subject toDr. Mahadevia remaining actively employed with the Company throughMay 31, 2023 ,Dr. Mahadevia shall receive: (i) a cash bonus equal to$254,000 payable onNovember 30, 2022 and (ii) if certain performance criteria are achieved, a number of shares of common stock to be issued to him onMay 31, 2023 having a value of$508,000 based on the common stock price at such time, subject to the discretion of the Board or the HCM Committee to pay in cash or a combination of cash and stock. • Subject toMr. Shukla remaining actively employed with the Company throughMay 31, 2023 ,Mr. Shukla shall receive: (i) a cash bonus equal to$168,000 payable onNovember 30, 2022 and (ii) if certain performance criteria are achieved, a number of shares of common stock to be issued to him onMay 31, 2023 having a value of$336,000 based on the common stock price at such time, subject to the discretion of the Board or the HCM Committee to pay in cash or a combination of cash and stock.
The RSUs are eligible for vesting based on the achievement of certain
performance criteria by
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