Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
EffectiveNovember 2, 2020 ,Westell Technologies, Inc. (the "Company") has namedJeniffer L. Jaynes , 48, as Chief Financial Officer, Treasurer and Secretary of the Company.Ms. Jaynes has served as the Company's interim CFO sinceAugust 24, 2019 . She previously served as the Company's Vice President and Corporate Controller from 2018 and Assistant Vice President of Financial Reporting from 2016 until 2018, and as Director of SEC Reporting from 2007 to 2016.Ms. Jaynes initially joined the Company in 1996 and held various accounting positions with the Company through 2000. Prior to rejoining the Company in 2007,Ms. Jaynes served as the Director of SEC Reporting atInfinity Property and Casualty Corporation and as the Manager of Financial Reporting atPemco Aviation Group, Inc. (subsequently known as Alabama Aircraft Industries, Inc.).Ms. Jaynes is a Certified Public Accountant and began her career as an auditor withArthur Andersen LLP .Ms. Jaynes' will receive an annual base salary of$245,000 and is eligible for a bonus target of$73,500 that will be based on the Company's actual financial results compared to established performance criteria.Ms. Jaynes previously entered into a severance agreement with the Company. Pursuant to the severance agreement, in the event of a termination without cause or for good reason (as defined in the severance agreement),Ms. Jaynes is entitled severance pay equal to 12 months of base salary and certain other benefits. The foregoing description of the severance agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the severance agreement, which is filed as Exhibit 10.1 and is incorporated herein by reference in its entirety. For a description of the programs and other benefits available to the Company's executive officers, please see the Company's definitive proxy statement for its 2020 Annual Meeting of Shareholders, which was filed with theSecurities and Exchange Commission onAugust 11, 2020 . There are no arrangements or understandings betweenMs. Jaynes and any other person pursuant to which she was selected as an officer.Ms. Jaynes does not have any familial relationship with any director or other executive officer of the Company, and there are no transactions in whichMs. Jaynes has an interest requiring disclosure under Item 404(a) of Regulation S-K. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Severance Agreement forJeniffer Jaynes , datedFebruary 12, 2018 (incorporated herein by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed onAugust 28, 2019 ). 99.1 Press release datedNovember 5, 2020 .
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