LogicMark receives Nasdaq deficiency notice for minimum bid price; enters new CEO employment agreement

LogicMark, Inc.

Nasdaq notified LogicMark of non-compliance with $1.00 minimum bid price; 180-day cure period until May 1, 2023.
Closing bid price below $1.00 for 30 consecutive business days; shares continue trading on Nasdaq Capital Market.
New employment agreement with CEO Chia-Lin Simmons effective June 14, 2022, through August 31, 2025.
CEO base salary $500,000; annual bonus up to 100% of base; restricted stock grants to maintain 6% ownership.
If compliance not regained by May 1, 2023, may qualify for second 180-day compliance period.

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