SUPPORT.COM, INC. (NASDAQ:SPRT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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SUPPORT.COM, INC. (NASDAQ:SPRT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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

(c) and (e) Compensatory Arrangements of Certain Officers
Employment Offer Letter
On December 21, 2016, the Company entered into an agreement
regarding the terms of employment (the Agreement) with Mr.
Bloom, who was appointed interim President and Chief Executive
Officer on October 28, 2016. The Agreement provides that Mr.
Blooms employment is at-will and the terms of the Agreement are
effective as of Mr. Blooms appointment date. The Agreement is
subject to the execution of the Companys standard Confidential
Information and Invention Assignment Agreement by Mr. Bloom.
The material terms of the Agreement are summarized below:
Base Salary. Mr. Bloom will receive a monthly base salary of
$40,000, subject to annual review.
Other Benefits. Mr. Bloom will be eligible to participate in
the benefit programs generally available to employees of the
Company. He will also be entitled to 20 days of paid time off
and 2 days of floating holidays per year in addition to normal
Company holidays.
Severance Terms. If the Company terminates Mr. Blooms
employment as a result of an Involuntary Termination (as
defined in the Agreement), including a Good Reason termination
(as defined in the Agreement) or with cause under certain
limited circumstances (as described in the Agreement), the
Company will provide Mr. Bloom with a severance benefit equal
to two hundred thousand dollars ($200,000). The severance
payment is subject to the execution of the Companys standard
form of release.
Expense Reimbursement. The Company will reimburse Mr. Bloom for
all reasonable costs related to travel to and from his
principle residence and the Companys headquarters, including
but not limited to, airfare, lodging, and meals. To the extent
such reimbursement results in taxable income to Mr. Bloom, the
Company will provide Mr. Bloom with an additional payment for
federal and state income taxes.
The foregoing description of the Agreement is qualified in its
entirety by reference to the full text of the Agreement, which
is attached hereto as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1
Employment Offer Letter between Rick Bloom and Support.com,
Inc., dated December 21, 2016 and effective as of October
28, 2016


About SUPPORT.COM, INC. (NASDAQ:SPRT)

Support.com, Inc. is a provider of cloud-based software and services for technology support. The Company offers outsourced support services for service providers, retailers, Internet of Things (IoT) solution providers and technology companies. It offers technology support services programs for both the consumer and small business markets, and includes computer and mobile device set-up, security and support, virus and malware removal, wireless network set-up, and home security and automation system support. Its cloud-based offering, Nexus, is a software-as-a-service solution for companies to support interactions with their customers. Its end user software products are designed to maintain, optimize and secure computers and mobile devices. Its principal software products include products designed for malware protection and removal (SUPERAntiSpyware); personal computer (PC), smartphone and tablet maintenance and optimization (Cosmos), and PC registry cleaning and repair (ARO).

SUPPORT.COM, INC. (NASDAQ:SPRT) Recent Trading Information

SUPPORT.COM, INC. (NASDAQ:SPRT) closed its last trading session up +0.020 at 0.780 with 194,383 shares trading hands.