PLYMOUTH INDUSTRIAL REIT, INC. : Change of Directors or Principal Officers, Financial Statements and Schedules (Form 8-K)
Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain leaders; Compensatory provisions of certain executives.
(b) As previously announced in
(c) On February 23, 2022, the Board of Directors of the Company (the “Board”) appointed
There are no family relations between
The Company has entered into an employment contract with
As part of the employment contract,
In accordance with the terms of the employment contract, if
• An amount, payable over a 12-month period, equal to two times the sum of (1)Mr. Saladino's annual base salary then in effect, (2) the average annual bonus earned byMr. Saladino for the two prior fiscal years (substituting target bonus in the average for any fiscal year not yet completed if fewer than two fiscal years have been completed) and (3) the average value of any annual equity awards(s) made toMr. Saladino during the prior two fiscal years (excluding the initial grant of restricted stock described above, any award(s) granted pursuant to a multi-year, outperformance or long-term performance program and any other non-recurring awards), or if fewer than two years have elapsed, over such lesser number of years; and • accelerated vesting of all outstanding equity awards held by Mr. Saladino as of the termination date and Company-paid continuation healthcare coverage for 18 months after the termination date.
In the event of termination of employment due to death or disability,
The Company has entered into a change of control separation agreement with
The foregoing are summaries of the material terms of
Item 9.01 Financial statements and supporting documents.
Exhibit No. Description 10.1 Employment Agreement withAnthony Saladino , dated as ofFebruary 23, 2022 10.2 Change in Control Severance Agreement withAnthony Saladino , dated as ofDecember 12, 2021
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