Zedge, Inc. has entered into a new employment agreement with Jonathan Reich, effective October 1, 2026. The agreement outlines the terms of Mr. Reich’s continued service with the company following a change in his role from Chief Executive Officer to President and Chief Operating Officer, effective September 30, 2026.
Under the terms of the three-year agreement, which runs from October 1, 2026, through September 30, 2029, Mr. Reich is entitled to an annual base salary of $390,000. This salary is set to increase by $15,000 on each subsequent July 31. Additionally, the agreement provides for an annual performance bonus of at least $124,313 for each fiscal year beginning with fiscal year 2026.
The filing details severance provisions for Mr. Reich, which allow for separation pay of up to two years of base salary, plus a prorated portion of his minimum annual bonus, depending on the circumstances of his termination. The agreement also stipulates that if Mr. Reich’s employment is terminated by the Company without Cause or if he resigns for Good Reason, the vesting of his equity awards will be fully accelerated.
Furthermore, the agreement includes an award under the Company’s 2026 Equity Incentive Plan. This award consists of a combination of restricted stock and deferred stock units representing a total of 100,000 shares of the Company’s Class B common stock. The award is scheduled to be granted within 150 days of October 1, 2026, with one-twelfth vesting on the grant date and the remainder vesting in eleven equal quarterly installments.
