SKY Skyline Corp. (delisted)

Executive Officers

In connection with the Company’s appointment of Mark Yost as President and Chief Executive Officer of the Company as of June 1, 2019, a subsidiary of the Company entered into an employment agreement with Mr. Yost on September 5, 2019, effective as of June 1, 2019 (the Employment Agreement).

Pursuant to the terms of the Employment Agreement, Mr. Yost is entitled to receive an annual base salary of $600,000 and an annual cash bonus based on the achievement of certain performance objectives, with a target and maximum annual bonus opportunity of 100% and 200% of annual base salary, respectively.  

In addition, and pursuant to the terms of the Employment Agreement, Mr. Yost was granted 15,900 restricted stock units in accordance with the Company’s long-term incentive plan, which stock units vest-pro-ratably on each of the first three anniversaries of the effective date of the Employment Agreement.

If the employment of Mr. Yost is terminated other than for cause or if Mr. Yost resigns for good reason (as such terms are defined in the Employment Agreement), Mr. Yost will be entitled to receive, subject to execution of a release of claims and continued compliance with the restrictive covenants applicable to him, continued salary for a period of twenty-four (24) months following termination, contributions to the premium cost of his participation in group medical and dental plans for twenty-four (24) months following termination, any awarded but unpaid annual bonus compensation for the fiscal year prior to the year in which termination occurs, and prorated bonus compensation for the fiscal year in which termination occurs.  The Employment Agreement contains certain customary restrictive covenants with respect to protection of confidential information, non-compete and non-solicit provisions, assignment of intellectual property rights, as well as customary provisions regarding the reimbursement of business expenses.  

There is no arrangement or understanding between Mr. Yost and the Company or any other persons or entities pursuant to which Mr. Yost was appointed as an Executive Officer other than the Employment Agreement and the Indemnification Agreement reported in the Form 8K filed on May 31, 2018. There are no family relationships between Mr. Yost and any director or executive officer of the Company (or person nominated or chosen to become a director or executive officer of the Company), and there are no transactions between the Company and Mr. Yost that require disclosure under Item 404(a) of Regulation S-K.