ClearOne, Inc. (NASDAQ:CLRO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement.

On January 4, 2018 (the “Separation Date”), ClearOne, Inc. (the “Company”) terminated Michael Braithwaite as the Company’s Senior Vice President – Network Streaming Business and an employee of the Company. In connection with Mr. Braithwaite’s separation from the Company, on January 9, 2018 Mr. Braithwaite entered into a Confidential Separation Agreement and General Release with the Company (the “Separation Agreement”).

Under the terms of the Separation Agreement, Mr. Braithwaite was paid all unpaid base salary and accrued but unused vacation time through the Separation Date. Provided that the Separation Agreement has not been revoked by Mr. Braithwaite prior to the expiration of the seven day revocation period described below, the Company will pay Mr. Braithwaite cash severance of $52,355.85 as additional consideration for the release of claims referenced below. The foregoing amounts will be paid less state and federal taxes and other withholding requirements of the Company. Provided that the Separation Agreement is not revoked by Mr. Braithwaite as described below, the agreement provides for a general release of claims against the Company by Mr. Braithwaite, subject to certain customary exceptions set forth in the Separation Agreement.

to applicable law, Mr. Braithwaite has a period of seven calendar days to revoke the Separation Agreement by providing the Company with written notice of such revocation. Any revocation of the Separation Agreement, however, shall not affect the finality of the separation of Mr. Braithwaite’s employment with the Company on the Separation Date.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

See Item 1.01 of this Form 8-K above, which is incorporated herein by reference.

About ClearOne, Inc. (NASDAQ:CLRO)

ClearOne, Inc. (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses. The Company’s end users range from companies and institutions to small and medium-sized businesses, higher education and government organizations, as well as individual consumers. The Company sells its commercial products to end users primarily through a network of independent distributors, who in turn sells its products to dealers, systems integrators and other resellers. Its products are categorized into the Professional audio communication products; Unified communications audio end points, and Visual communication products. The Company’s products include CONVERGE Pro, INTERACT and MAX.