Item 1.01 Entry into a Material Definitive Agreement.
Effective January 17, 2023, in connection with his resignation from Westwater
Resources, Inc. (the "Company") on January 16, 2023 (as described in the
Company's Current Report on Form 8-K filed on January 17, 2023), Chad M. Potter,
the Company's former President and Chief Executive Officer, entered into an
Agreement and Release (the "Agreement") with the Company respecting his
resignation. Under the Agreement, Mr. Potter will receive one year of base
salary, paid over the next 12 months, as severance and a portion of stock awards
under the Company's long-term incentive plan for fiscal 2020, 2021, and 2022.
The Company also agreed to extend the expiration date of his vested stock
options for 90 days from January 16, 2023. Under the terms of the Agreement, Mr.
Potter also provided a release of all claims against the Company.
The foregoing description of the Agreement is qualified in its entirety by
reference to the full text of the Agreement and Release which is filed with this
Current Report on Form 8-K as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
Exhibits
*10.1 Agreement and Release between the Company and Chad M. Potter,
effective January 17, 2023.
104 Cover Page Interactive Data File (the cover page XBRL tags are
embedded in the Inline XBRL document).
* Filed herewith.
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