Item 9B. Other Information
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Item 9B. Other Information
During the fourth quarter of 2021 and effective as of January 1, 2022, the Company and Kelly Mark entered into a Service Agreement upon Mr. Mark’s retirement from the Company (the “Service Agreement”). As previously announced, Mr. Mark, the Company’s former Executive Vice President, Software and Services, stepped down from his position leading the Software and Services segment of the Company effective June 1, 2021, and retired from the Company effective December 31, 2021. Pursuant to the Service Agreement, Mr. Mark will continue to provide consulting services to the Company until January 1, 2023 (with an option to renew his services). As compensation for Mr. Mark’s services, Mr. Mark will be allowed to continue his medical benefits as described in the Service Agreement. The foregoing description of the Service Agreement is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed as Exhibit 10.53 to this Form 10-K.
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