Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2018, Health Insurance Innovations, Inc. (the “Company”) appear a alteration in the administration of its HealthPocket, Inc. subsidiary. As a allotment of this transition, Mr. Bruce Telkamp, the CEO of HealthPocket and of the Company’s Consumer Division, and Dr. Sheldon Wang, the Company’s Chief Technology Officer, will cease to be active by the Company as of August 17, 2018. Also as a allotment of this transition, the Employment Agreement for anniversary of Mr. Telkamp and Dr. Wang was concluded by the Company “without cause” on August 16, 2018, which entitles anniversary of Mr. Telkamp and Dr. Wang to severance advantage in the anatomy of 12 months of abject bacon assiduity beneath the agreement of such Employment Agreements so continued as they assassinate a accepted absolution in favor of the Company. In addition, accountable to the commitment of accepted releases, the Company agreed to the vesting of Mr. Telkamp and Dr. Wang’s unvested belted shares ahead accepted beneath the Company’s Long-Term Incentive Plan.
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