Q2 HOLDINGS, INC. (NYSE:QTWO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e)

On July 15, 2019, Q2 Software, Inc., a subsidiary of Q2 Holdings, Inc. (the \”Company\”), and Odus E. Wittenburg, Jr. entered into an Amended and Restated Employment Agreement (the \”Amended Employment Agreement\”), which amends and restates in its entirety the employment agreement between Q2 Software, Inc. and Mr. Wittenburg dated August 22, 2016, as amended. The Amended Employment Agreement has no specific term and constitutes at-will employment. The Employment Agreement sets Mr. Wittenburg\’s base salary at $443,000 per year and his target annual cash incentive bonus at $382,000 per year, which are unchanged from his 2018 base salary and target bonus, as previously disclosed in the Company\’s definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 30, 2019. The Amended Employment Agreement provides that in the event that Mr. Wittenburg\’s employment is terminated without \”cause\” (as such term is defined in the Amended Employment Agreement), he will be entitled to receive an amount equal to 50% of his then-current annual base salary in equal installments over a six-month period. The payment of this severance amount is subject to Mr. Wittenburg (i) executing a general release and waiver of claims against the Company and (ii) undertaking to continue to protect the Company\’s confidential and proprietary information.

The foregoing description of the Amended Employment Agreement does not purport to be complete and is qualified in its entirety by the text of the Amended Employment Agreement which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Q2 Holdings, Inc. Exhibit
EX-10.1 2 exhibit1011.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AMENDED AND RESTATEDEMPLOYMENT AGREEMENTThis Amended and Restated Employment Agreement (this “Agreement”) is made effective on July 15,…
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About Q2 HOLDINGS, INC. (NYSE:QTWO)

Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions (RCFIs) to deliver a range of virtual banking services. The Company delivers virtual banking solutions across online, mobile, voice and tablet channels. The Company’s solutions are the point of interaction between its RCFI customers and their account holders. Its software-as-a-service (SaaS) delivery model is designed to scale with its customers as they add account holders on its solutions. The Company sells subscriptions to its cloud-based solutions through its direct sales organization. Its solutions include Q2online, Q2 Risk & Fraud Analytics, Q2 Treasury, Q2mobility App, Q2mobile Remote Deposit Capture, Q2text, Q2voice, Q2themes and Q2clarity. The Company’s solutions provide both behavioral analytics and policy-based decision prompts to identify suspect transactions and allow RCFI administrators to analyze transaction activity.