Sarcos enters separation agreement with former COO Jorgen Pedersen; severance $170,767 over 6 months

Palladyne AI Corp.

Severance payment of $170,767.20 paid in 6 monthly installments of $28,461.20; health premium coverage for up to 6 months.
If change in control occurs within 3 months post-separation, lump-sum salary severance up to $170,767 (minus payments made), bonus severance of $119,537, and full equity acceleration.
Employee releases all claims, reaffirms confidentiality, non-solicitation, non-competition, and non-disparagement obligations.
Separation follows previously disclosed July 12, 2023 departure; Pedersen will no longer serve as advisor.

item 5.02 item 9.01

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Departed

Jorgen Pedersen

Chief Operating Officer

PDYN · Palladyne AI Corp.

Effective: 2023-07-12
Filed: September 1, 2023, 7:59 PM ET

Jorgen Pedersen ceased to be Chief Operating Officer of the Company and its subsidiaries (the “Company Group”) on July 12, 2023 (the “Separation Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jorgen Pedersen departed as Chief Operating Officer at Palladyne AI Corp..

Action: ceased to be
Role: Chief Operating Officer

Exact text from the filing

Jorgen Pedersen ceased to be Chief Operating Officer of the Company and its subsidiaries (the “Company Group”) on July 12, 2023 (the “Separation Date”).

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Palladyne AI Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-046091

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