Management ChangeOct 19, 2026, 01:36 PM
Zedge Appoints Jonathan Reich President & COO with New Employment Agreement
AI Summary
Zedge, Inc. has entered into a new employment agreement with Jonathan Reich, effective October 1, 2026, following his transition from CEO to President and Chief Operating Officer. The agreement spans three years with an initial base salary of $390,000, annual increases, and a minimum annual performance bonus. It also details separation pay and equity awards, including 100,000 shares of restricted stock and deferred stock units vesting over 12 months.
Key Highlights
- Jonathan Reich's employment agreement effective Oct 1, 2026, with a 3-year term ending Sep 30, 2029.
- Annual base salary of $390,000, increasing by $15,000 annually.
- Annual performance bonus of not less than $124,313 for fiscal year 2026 and onwards.
- Separation pay up to two years of base salary plus prorated bonus.
- Full acceleration of equity award vesting upon termination without Cause or resignation for Good Reason.
- Award of 100,000 restricted stock and deferred stock units, vesting over 12 months.
Price Impact
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