secwatch.observer — SEC 8-K summary
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Issuer:     CRYO CELL INTERNATIONAL INC (CCEL)
CIK:        0000862692
Form:       8-K
Filed at:   2022-12-29T23:59:59+00:00
Accession:  0000950170-22-027095
Event type: other
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862692/000095017022027095/0000950170-22-027095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862692/000095017022027095/ccel-20221223.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-027095

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer