Acorn Energy enters amended consulting agreement with CFO/COO Tracy Clifford; grants 100,000 options

ACORN ENERGY, INC.

Tracy Clifford continues as CFO of Acorn Energy and COO of OmniMetrix subsidiary under new one-year consulting agreement effective June 1, 2023.
Monthly cash compensation of $17,500; if terminated by company without cause, six months severance at same rate.
Received grant of 100,000 options at $0.3068 per share (May 31 closing price); 25% vested immediately, rest vests quarterly over nine months.
Agreement auto-renews annually; similar 100,000 stock option grants on each anniversary.
Replaces prior consulting agreement dated June 1, 2022.

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