UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 22, 2022, the Registrant amended (the “Amendment”) its previously filed Executive Employment Agreement (the “Agreement”) with Stephen Snyder, a director and Chief Strategy Officer of the Registrant.
Pursuant to the Amendment, the Agreement was amended to provide that Mr. Snyder is eligible for a performance bonus of a number of shares of the Registrant’s common stock, to be priced on a 30-day pre-closing, volume-weighted average price, equal to one percent of the estimated, annualized run-rate revenues at the acquisition closing, as determined by the Registrant’s Executive Chairman, of each business acquired by the Registrant or any of its subsidiaries or affiliates, during the term of the Agreement, with each performance bonus vesting upon the closing of such acquisition. There were no other material changes to the Agreement.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 10.1 | Amendment to Executive Employment Agreement dated February 22, 2022 by and between CareCloud, Inc. and Stephen Snyder | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CareCloud, Inc. | ||
| Date: February 25, 2022 | By: | /s/ A. Hadi Chaudhry |
| A. Hadi Chaudhry | ||
| Chief Executive Officer | ||
| 3 |