GTY TECHNOLOGY HOLDINGS INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

Published: 2022-01-26 17:03:18 ET GTYH

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

(e) Effective on January 26, 2022, each of the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer (collectively, the "Executives") of GTY Technology Holdings Inc. (the "Company") entered into a waiver and consent (each, a "Waiver and Consent") with regard to his respective annual bonus for 2021.

Pursuant to the following amended and restated letter agreements with the Executives, each Executive is eligible to receive an annual cash bonus of up to 50% of his annual base salary ("Annual Bonus"):

· amended and restated letter agreement dated July 1, 2021 with TJ Parass, its

· amended and restated letter agreement dated April 29, 2021with John Curran, the

· amended and restated letter agreement dated April 15, 2021 with Dave Farrell,

Each Executive entered into a Waiver and Consent pursuant to which such Executive waived his right to receive his Annual Bonus for 2021 in cash and consented to the payment of such bonus in cash, restricted stock units with a vesting period of no more than one year, or a combination of both. The specific amount of each Annual Bonus has not yet been determined.

The foregoing descriptions of the Waivers and Consents are not complete descriptions thereof and are qualified in their entirety by reference to the Waivers and Consents attached hereto as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.