Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
OnJanuary 8, 2021 ,Brent R. Cromley , Jr., informedZuora, Inc. ("Zuora") of his intention to resign from his position as Senior Vice President, Technology, effective as ofMay 19, 2021 ("Separation Date"). OnJanuary 11, 2021 ,Mr. Cromley andZuora entered into a letter agreement (the "Transition Agreement") pursuant to whichMr. Cromley agreed to provide consulting services after his Separation Date untilNovember 19, 2021 , including assistingZuora with the transition of his duties, at a rate of$250 per hour. Pursuant to the Agreement,Mr. Cromley will (i) continue to receive his salary and participate inZuora's health and benefit plans through his Separation Date and (ii) be eligible to receive a bonus payout underZuora's Cash Incentive Plan for the period endingJanuary 31, 2021 but not for future periods. The Transition Agreement contains a customary release of claims in favor ofZuora . The foregoing description of the Transition Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the complete text of the Transition Agreement, a copy of whichZuora expects to file with its Annual Report on Form 10-K for the fiscal year endedJanuary 31, 2021 , and upon filing will be incorporated herein by reference. OnJanuary 13, 2021 ,Zuora announced the appointment ofSri Srinivasan asZuora's Chief Product and Engineering Officer, effectiveJanuary 19, 2021 . A copy of the press release announcingMr. Srinivasan's appointment is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is furnished as part of this report:
Exhibit Number Description Press release, dated January 1 3 , 202 1 , issued by 99.1 Zuora, Inc. 104 Cover Page Interactive Data File (the cover
page XBRL tags are embedded
within the Inline XBRL document).
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