Item 5.02. Departure of directors or certain managers; Election of directors; Appointment of certain officers; Compensatory provisions of certain executives.
On November 9, 2022, Accel Entertainment, Inc. (the “Company”) announced that
Christie Kozlik44 years old, was appointed to the position of Accounting Director, as of November 9, 2022and will assume the role of Senior Accountant.
Ms Kozlikpreviously served as Vice President, Accounting Consolidations and SEC Reporting at Assurant, Inc. (“Assurant”), a global insurance,
November 2021 at October 2022. Before Assurant, Ms Kozlik served as director of shareholder reporting at Allstate Insurance Company, a national insurance, May 2015 at November 2021. In addition, Ms Kozlik spent more than 10 years in audit and advisory services at KPMG srl. Ms Kozlik is a chartered accountant and holds a bachelor of science degree from Indiana University.
In connection with At Mrs. Kozlik’s appointment, the Company has entered into an employment contract (the “Employment Contract”) with Ms Kozlikwhich includes the following conditions: (i) an annual base salary of $265,000 (the “Base Salary”), (ii) a discretionary annual bonus of up to 50% of the At Mrs. Kozlik’s Base salary and a discretionary annual equity-based incentive award commencing in calendar year 2023 with a target grant date value equal to 50% of At Mrs. Kozlik’s Base salary; (iii) an award of restricted stock units (the “RSU Award”) covering 20,000 Class A-1 common shares of the Company pursuant to the Company’s long-term incentive plan (the “LTIP”) ); and (iv) a stock option grant covering 20,000 Class A-1 common shares of the Company (the “Option Grant” and, together with the RSU grant, the “Awards”) pursuant to Company LTIP. Awards will vest on the basis of one quarter of the shares on the second anniversary of the grant date, with the remainder vesting pro rata on a quarterly basis over the following two years, provided that Ms Kozlik remains employed by the Company until the acquisition date. Moreover, in case Ms Kozlik experiences termination without “cause” or resigns for “good reason” (each as defined in the employment contract), she will be entitled to (i) an amount equal to the sum of (A) the salary of annual basis paid to him during the six-month period immediately prior to such termination plus (B) the most recent annual premium payment paid to him immediately prior to such termination and (ii) twelve months of COBRA coverage keep on going. At Mrs. Kozlik’s receipt of severance pay and the above benefits is subject to delivery of an effective receipt of claims against the Company and its affiliates. The employment contract includes a non-competition clause for one year after termination and a non-solicitation clause for employees and customers for one year after termination.
In addition, as part of his appointment, Ms Kozlik will enter into the Company’s standard Form of Indemnification Agreement, which is attached as Exhibit 10.5 to the Company’s Periodic Report on Form 8-K filed with the Commission on November 20, 2019 (File No. 001-38136).
There is no arrangement or understanding between Ms Kozlik and any other person under whom Ms Kozlik was appointed accounting director of the company. Ms Kozlik has no direct or indirect material interest in any transaction required to be disclosed pursuant to Section 404(a) of Regulation SK. There are no family relations between Ms Kozlik and any director or other executive officer of the Company.
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