Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 11, 2021, Vonage Holdings Corp. (the "Company") announced that Sagi
Dudai, Chief Technology Officer, has been reassigned to work on special projects
as directed by the CEO, effective immediately.
In connection with Mr. Dudai's reassignment, on May 17, 2021, the Company
announced that it had entered into a Separation Agreement (the "Agreement") with
Mr. Dudai, which provides that Mr. Dudai will continue his employment with the
Company through June 30, 2021. Mr. Dudai will be eligible to receive (i) a
severance payment equal to twelve (12) months of Mr. Dudai's base salary, (ii)
continued equity vesting of Mr. Dudai's restricted stock units and
performance-based restricted stock units through December 31, 2021, with such
performance-based restricted stock units to vest at the target level, and (iii),
a full-year bonus payment, with such bonus payment to be based at the target
bonus opportunity level.
Mr. Dudai will also be subject to non-competition, non-solicitation,
confidentiality, conflicts of interests, and other customary restrictions.
Item 9.01. Financial Statements and Exhibits
See accompanying Exhibit Index for a list of the exhibits furnished with this
Current Report on Form 8-K.
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