TransAct Technologies amends CEO Bart Shuldman's employment agreement

TRANSACT TECHNOLOGIES INC

No change to CEO compensation; base salary $573,886/yr and 2022 bonus target of 75% unchanged.
Agreement updates prior 1996 contract to comply with current law and clarify severance/restrictive covenant provisions.
Initial 2-year term with auto-renewal; without-cause severance: 2 years base salary, 18 months COBRA, prorated bonus.
Under Change in Control termination within 12 mo: 3 years base+bonus, 18 months COBRA, immediate full equity vesting at 100% target.
Restrictive covenants: 2-year non-compete worldwide, non-solicit of customers/employees, enforceable by injunction.

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