Cryo-Cell enters new 2-year employment agreements with co-CEOs; base salaries set at $700K and $540K

CRYO CELL INTERNATIONAL INC

David Portnoy base salary $700K; Mark Portnoy base salary $540K; effective Dec 1, 2022.
Signing option grants: 50K shares (David) and 25K shares (Mark), exercisable only if stock closes above $8.00.
Severance for involuntary termination or resignation for good reason: 2x base salary plus average of recent bonuses, paid over 3 years.
David Portnoy's principal workplace is Miami; commuting expenses to Tampa HQ are reimbursable.
Agreements include one-year non-competition and 12-month non-solicitation restrictions.

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