ACE Convergence Acquisition Corp. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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| ITEM 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Amendment to Employment Agreement
On June 23, 2023, Tempo Automation, Inc. (the “Company”), a wholly owned subsidiary of Tempo Automation Holdings, Inc., entered into an amendment (the “Amendment”) to that certain employment letter agreement, dated April 15, 2021, by and between the Company and Ralph Richart (the “Employment Agreement”). The Amendment amends the Employment Agreement to provide that upon a termination of Mr. Richart’s employment by the Company without “cause” or due to his resignation for “good reason” (each as defined in the Employment Agreement) (a “qualifying termination”), in either case, within three months before or eighteen months after the closing of a “change in control” of the Company (as defined in the Tempo Automation Holdings, Inc. 2022 Incentive Award Plan, as may be amended from time to time), all unvested equity awards held by Mr. Richart at the time of such termination of employment, if any, will vest in full. Mr. Richart must execute an effective release of claims and continue to comply with any applicable restrictive covenants in order to receive the accelerated vesting described above.
The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
| Item 9.01. | Financial Statement and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number |
Description | |
| 10.1 | Amendment to Employment Letter Agreement, dated as of June 23, 2023, by and between Tempo Automation, Inc. and Ralph Richart | |
| 104 | Cover Page Interactive Data File. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Tempo Automation Holdings, Inc. | ||
| Date: June 28, 2023 | By: | /s/ Ryan Benton |
| Name: | Ryan Benton | |
| Title: | Chief Financial Officer | |