Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Employment Agreement with Robert T. DeVincenzi
In connection with his appointment as the interim Chief Executive Officer of
Lazydays Holdings, Inc. (the "Company"), Mr. DeVincenzi and the Company entered
into an employment agreement, dated January 3, 2022 (the "Employment
Agreement").
Under the terms of the Employment Agreement, Mr. DeVincenzi is entitled to
receive a monthly base salary of $37,500 and a one-time transition payment of
$25,000. Additionally, Mr. DeVincenzi was granted an option to purchase 25,032
shares of common stock at an exercise price of $30.00 (the "Option Award") under
the Company's 2018 Long Term Incentive Plan (the "Plan"), as well as a one-time
restricted stock unit award under the Plan of 10,613 restricted stock units (the
"RSU Award"). The RSU Award and Option Award each become vested on December 31,
2022, provided that Mr. DeVincenzi remains employed by the Company or on the
Company's Board of Directors, in each case, from the grant date of each such
award through December 31, 2022.
Pursuant to the terms of the Employment Agreement, Mr. DeVincenzi's employment
may be terminated at any time by the Company or Mr. DeVincenzi.
The above description of the Employment Agreement is not complete and is
qualified in its entirety by reference to the full text of the Employment
Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and
incorporated into this Form 8-K by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
10.1 Employment Agreement, dated January 3, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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