Singing Machine enters new employment agreements with CEO, CFO, and appoints new CRO

Algorhythm Holdings, Inc.

New three-year agreements for CEO Gary Atkinson and newly appointed CRO Bernardo Melo; CFO Lionel Marquis gets 18-month term.
Base salaries: Atkinson $215K, Marquis $175K, Melo $215K; each eligible for $10K increase on first anniversary if profitable.
Severance: lump sum equal to 2x base salary plus annual bonus for termination without cause, non-renewal, or good reason.
Bonus Plan ties cash, options, and stock grants to EBITDA and net sales; one-time option grant upon Nasdaq listing.
Agreements replace prior 2014 change-of-control agreements.

item 5.02 item 9.01

Executive movements

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Appointed

Bernardo Melo

Chief Revenue Officer

RIME · Algorhythm Holdings, Inc.

Effective: 2022-04-22
Filed: April 22, 2022, 7:59 PM ET

In addition, on April 22, 2022, Mr. Melo was appointed as Chief Revenue Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Bernardo Melo was appointed as Chief Revenue Officer at Algorhythm Holdings, Inc..

Action: appointed
Role: Chief Revenue Officer

Exact text from the filing

In addition, on April 22, 2022, Mr. Melo was appointed as Chief Revenue Officer.

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Algorhythm Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-010748

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