8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 12, 2023

Cineverse Corp.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-31810	22-3720962
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
244 Fifth Avenue, Suite M289
New York, New York		10001
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 206-8600

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
CLASS A COMMON STOCK, PAR VALUE $0.001 PER SHARE	CNVS	The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 13, 2023, the Company announced the appointment of Mark Lindsey, 56, as Chief Financial Officer, effective as of September 14, 2023. Mr. Lindsey served as the Company's Executive Vice President, Finance and Accounting since November 2022 overseeing accounting, financial reporting, regulatory compliance and financial planning. The promotion marks a streamlining of the EVP and CFO roles. Prior to joining the Company, Mr. Lindsey served as Chief Accounting Officer and interim Chief Financial Officer at Firefly, a mobility-based advertising and data platform from June 2021 to November 2022. From 2006 to 2019, Mr. Lindsey also served as Chief Financial Officer at Canapi Ventures, a financial technology-focused venture capital firm; and Chief Accounting Officer at American Capital, a publicly traded private equity firm and global asset manager. Prior to 2006, he also worked at SiriusXM as Senior Director of Financial Reporting, at the PCAOB as Manager of Inspections, and at PricewaterhouseCoopers as Audit Senior Manager. Mr. Lindsey graduated from the University of Colorado at Denver with a B.S. in Business Administration with an emphasis in Accounting.

Mr. Lindsey does not have any family relationship with any director or executive officer of the Company. On September 12, 2023, and effective as of September 14, 2023, the Company entered into an employment agreement with Mr. Lindsey (the “Lindsey Employment Agreement”), pursuant to which Mr. Lindsey will serve as Chief Financial Officer of the Company. The term of the Employment Agreement will commence on September 14, 2023, and will end on September 13, 2024. Pursuant to the Employment Agreement, Mr. Lindsey will receive an annual base salary of $350,000. In addition, Mr. Lindsey will be eligible for annual bonuses, with a target bonus of $175,000, which bonuses shall be based on Company performance with goals to be established annually by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”). The Lindsey Employment Agreement further provides that Mr. Lindsey is entitled to participate in all benefit plans provided to senior executives of the Company. The Lindsey Employment Agreement provides that, in the event of a termination without Cause (as defined in the Lindsey Employment Agreement) or a resignation for Good Reason (as defined in the Lindsey Employment Agreement), Mr. Lindsey shall be entitled to payment of twelve (12) months’ base salary at the time of termination. In the event, within two (2) years after a Change in Control (as defined in the Lindsey Employment Agreement), of a termination without Cause (other than due to Mr. Lindsey’s death or disability), a resignation for Good Reason, or upon notice by the Company that it does not wish to renew the Term (as defined in the Lindsey Employment Agreement), then in lieu of receiving the amounts described above, Mr. Lindsey would be entitled to receive a lump sum payment equal to two (2) times the sum of (a) his then current annual base salary and (b) Mr. Lindsey’s target bonus for the year of termination.

The foregoing description of the Lindsey Employment Agreement does not purpose to be complete and is qualified in its entirety by reference to and incorporates herein by reference the full text of the Lindsey Employment Agreement, a copy of which is attached to this Form 8-K as Exhibit 10.1.

On September 13, 2023, the Company also announced that John Canning will be leaving the Company as Chief Financial Officer effective as of the expiration of his employment agreement on September 13, 2023.

The Company issued a press release on September 13, 2023, announcing the appointment of Mr. Lindsey as the Company’s Chief Financial Officer, a copy of which is attached to this Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibits

Exhibit No.	Description
10.1	Employment Agreement dated September 14, 2023 between Cineverse Corp. and Mark Lindsey (Certain Portions Omitted)
99.1	Press release dated September 13, 2023.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			CINEVERSE CORP.
Date:	September 15, 2023	By:	/s/ Gary S. Loffredo
			Chief Legal Officer, Secretary

EX-10.1

Exhibit 10.1

Certain identified information in this exhibit has been excluded from the exhibit because it is confidential and not material.

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of a mutually agreed upon date, effective as of the 14th day of September, 2023 by and between Cineverse Corp., a Delaware Corporation, 244 Fifth Avenue, Suite M289, New York, NY 10001 (the "Company"), and Mark Lindsey, having an address at [REDACTED] (the “Employee”).

WITNESSETH:

WHEREAS, the Company desires to employ the services of the Employee and the Employee desires to be employed by the Company upon the terms and conditions set forth herein and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereby agree as follows:

1.Employment.

(a)The Company agrees to employ the Employee, and the Employee agrees to be employed by the Company under the terms of this Agreement, for the period stated in paragraph 3 hereof and upon the other terms and conditions herein provided.

(b)The Employee affirms and represents that, other than as provided herein, they are under no obligation to any party that is in any way inconsistent with, or that imposes material restrictions upon, the Employee’s employment by the Company or the Employee's responsibilities or undertakings under this Agreement.

2.Position and Responsibilities. The Employee shall serve as Chief Financial Officer. The Employee’s principal place of employment will be located in New York, NY or remotely as agreed by the Employee and the Company. The Employee shall be responsible for such duties as are commensurate with their office and as may from time to time be reasonably assigned to the Employee by the Chief Executive Officer of the Company (“CEO”), who can also assign reporting to other members of the Office of the CEO including the Company’s COO. Except as otherwise provided herein, the Employee will devote their substantially full business time throughout the Term to the services required of them hereunder. The Employee will render their business services to the Company during the Term and will use their best efforts, judgment and energy to improve and advance the operations, programs, services and interestsof the Company in a manner consistent with the duties of their position. Notwithstanding the foregoing, as long as it does not materially interfere with the Employee’s employment hereunder, the Employee may participate in educational, welfare, social, religious and civic organizations. The Employee may serve on additional boards of directors, only with the approval of the CEO and the

Compensation Committee of the [Board of Directors of the Company (“Board”)] (“Committee”), which approval shall not be unreasonably withheld or delayed.

3.Term. Except as otherwise provided for herein, the term of this Agreement (“the Term”) shall be from September 14th, 2023 (the “Effective Date”) to September 13th, 2024. This Agreement shall automatically renew (for another one (1) year term, unless either party provides written notice to the other party no later than ninety (90) days before the expiration of the Term that the party does not wish to renew the Term of this Agreement.) Upon the expiration of the Term, this Agreement, except for the provisions that survive pursuant to this paragraph 3 and paragraphs 8 and 6(c), will have no further force or effect.

4.Compensation, Reimbursement of Expenses.

(a)Salary. For all services rendered by the Employee in any capacity during their employment under this Agreement, including, without limitation, service as an executive, officer, director, or member of any committee of the Company or of any subsidiary, affiliate, or division thereof, the Company shall pay the Employee, in accordance with the Company’s normal payroll practices, a salary (“Base Salary”) at the rate of $350,000.00 per year commencing with the Effective Date, subject to annual reviews and increases in the sole discretion of the Committee.

(b)Bonus. Employee shall be eligible to participate in the Company’s Management Annual Incentive Plan or any amended or successor plan thereto (“MAIP”). The target bonus shall be 50%/$175,000.00 (each such target bonus for the applicable fiscal year, the “Target Bonus”). The Employee’s Target Bonus shall be based on Company performance with goals to be established annually by the Compensation Committee with consultation of the Employee provided that the ultimate decision shall be made by the Committee in its sole discretion. Bonuses shall be paid at the same time as bonuses are paid to other executives of the Company, which payment shall be during the calendar year that includes the close of such fiscal year and shall be subject to the terms of the MAIP.

(c)Reimbursement of Expenses. In accordance with Company policies then in effect, the Company shall pay directly, or reimburse the Employee for, reasonable travel, entertainment and other business-related expenses incurred by the Employee in the performance of their duties under this Agreement.

(d)Stock/Stock Options.In addition to your salary and bonus, you may be eligible to participate in any Company Equity Incentive Plan (“EIP”) or any amended or successor plan thereto commensurate with your position at the time such plan/program is approved by the Company and the Compensation Committee of the Board of Directors, and will be subject to the specific terms and conditions that will be put into effect at the time such awards/options are granted.

5.Participation in Benefit Plans. The Employee will be eligible to participate in all benefit plans and programs that the Company provides to its senior executives in line with the Company’s current practices, including medical, dental, vision, disability, life insurance and paid time off plans, all in accordance with the terms and conditions of such benefit plans and programs as may be modified by the Company in its sole discretion or as required by law from time to time.

6.Termination.

(a)The Company shall have the right to terminate this Agreement and the Employee’s employment prior to the expiration of the Term for “Cause” (as defined below). The Employee has the right to resign and terminate this Agreement at any time without “Good Reason” (as defined below) upon thirty (30) days’ written notice, which notice period may be waived at the discretion of the Company. The Company shall have no obligations to the Employee for any period subsequent to the effective date of any termination of this Agreement pursuant to this paragraph 6(a), except any and all obligations provided by law and the payment of Base Salary (pursuant to paragraph 4(a)) up to and including the termination date, bonus earned and approved by the Committee (pursuant to paragraph 4(b) and/or 4(e)), reimbursement of expenses incurred prior to the termination date (pursuant to paragraph 4(c)), and benefits accrued prior to the termination date (pursuant to paragraph 5).

(b)The Company shall also have the right to terminate this Agreement and the Employee’s employment prior to the expiration of the Term other than for Cause upon thirty (30) days’ notice and the Employee has the right to resign and terminate this Agreement at any time for Good Reason (each such termination shall not include a termination of employee’s employment with the Company due to the Employee’s death or Disability). If, prior to the end of the Term, the Company terminates this Agreement and the Employee's employment for any reason other than for Cause (and other than due to the Employee’s death or Disability) or if the Employee resigns for Good Reason (as defined below), the Employee shall be entitled to receive the amounts payable under paragraph 6(a), and the Base Salary for the twelve (12) month period following termination of employment (the “Severance Period”), subject to Paragraphs 6(f) below, to be paid in equal monthly installments, as of the first day of each month following the date of termination; provided that, except as provided in 6(f) below if applicable, the first of such payments shall be made in the month following sixty (60) days after such termination and shall include any amounts that would have been payable absent the 60-day delay in commencement date, and such payments shall continue for such twelve-month period; and provided further that, subject to the restrictions of Paragraph 12(d) below if applicable, the Company may elect in its sole discretion to pay any amounts due under this Paragraph 6(b) as a one-time, lump-sum amount, less applicable statutory deductions and authorized withholdings, in the month following sixty (60) days after such termination. The Company shall be entitled to reduce the amounts paid under this Paragraph 6(b) by the amounts paid to the Employee in the same period by any other entity that employs the Employee after the Employee’s termination date with the Company.

(c)If, beginning on September 14th, 2023 and prior to the end of the Term, and within two (2) years after a Change in Control (as defined in the EIP), the Employee’s employment is terminated (i) by the Company without Cause (and other than due to the Employee’s death or Disability), (ii) by the Employee for Good Reason, or (iii) upon notice by the Company under paragraph 3 of this Agreement that the Company does not wish to renew the Term of this Agreement, then in lieu of the amount payable under paragraph 6(b), Employee will receive a lump sum payment equal to two (2) times the sum of (a) Employee’s then-current annual Base Salary, and (b) Employee’s Target Bonus for the year of termination; provided, however, that such payment shall be limited to an amount which would not result in an “excess parachute payment” as that term is defined in Internal Revenue Code section 280G, as determined in the sole good faith discretion of the Company. Subject to paragraph 6(f) below, payment of the amount due under this paragraph 6(c) shall be made as soon as practicable following the date on which the termination occurs; but in no event later than sixty (60) days following the date of such termination and the Employee will not have the right to designate the taxable year of the payment.

(d) For purposes of this Agreement, “Cause” means any of the following: (i) the Employee’s conviction of or plea of nolo contendere to a felony or other crime involving moral turpitude, (ii) the Employee’s material breach of a material provision of this Agreement that is not corrected within thirty (30) days following written notice of such breach sent by the Company to the Employee, (iii) the Employee’s willful misconduct in the performance of their material duties under this Agreement, (iv) the Employee’s performance of their material duties in a manner that is grossly negligent, and (v) the Employee’s failure to attempt to fully comply with any lawful directive of the CEO which is not corrected within thirty (30) days following written notice of such breach sent by the Company to the Employee. Whether or not “Cause” exists shall be determined solely by the Company in its reasonable, good faith discretion.

(e)For purposes of this Agreement, “Good Reason” means, without the Employee's written consent, (i) a material and substantially adverse reduction in title or job responsibilities compared with title or job responsibilities on the Effective Date, which may include a change of title and position during the Term (provided that such change in title relates to a material and substantially adverse reduction in job responsibilities or reporting structure), (ii) any requirement that the Employee relocate to a work location that results in a driving commute of at least two hours more than the Employee’s driving commute just prior to the work relocation, provided, however, that this subparagraph (e)(ii) shall constitute a Good Reason event hereunder only if the Employee’s regular workplace is a Company-designated office (i.e., they are not working remotely or otherwise) at the time of the required relocation; or (iii) any material breach of the Agreement by the Company. Notwithstanding the foregoing, Good Reason will be deemed to exist only in the event that: (a) the Employee gives written notice to the Company of their claim of Good Reason and the specific grounds for their claim within ninety (90) days following the occurrence of the event upon which their claim rests, (b) the Company fails to cure such breach within thirty days (30) of receiving such notice (“Cure Period”), and (c) the Employee gives written notice to the Company to terminate their employment within fifteen (15) days following the Cure Period.

(f)Notwithstanding the foregoing, if Employee is a “specified employee” (as such term is defined in Section 409A of the Internal Revenue Code (“Section 409A”)) and the provisions of Treasury Regulation 1.409A-3(i)(2) apply because payments due under this Agreement constitute deferred compensation for purposes of Section 409A, payments under this paragraph 6 shall in no event be made prior to six months after the Participant’s separation from service (the “Suspension Period”). All payments suspended during the Suspension Period will be paid in a lump sum and the normal payment schedule will resume at the end of the Suspension Period. Each of the affected payments under this paragraph (f) shall be a separate payment for purposes of Section 409A of the Code.

(g)Notwithstanding any other provision of this Agreement to the contrary, the Employee shall not be entitled to Severance or Change in Control payments, and the Company shall not be obligated to make such payments, under this paragraph 6 unless (i) the Employee materially complies with the restrictive covenants by which they are bound (whether pursuant to this Agreement or otherwise), including, but not limited to, any non-competition agreement, non-solicitation agreement, confidentiality agreement or invention assignment agreement signed by the Employee, and (ii) the Employee executes, delivers and does not revoke a commercially reasonable general release in form and substance acceptable to both the Company and Employee no later than sixty (60) days following the effective date of termination of employment. To the extent the Company makes any Severance or Change in Control payment to the Employee prior to the execution and delivery or a permissible revocation of the release described in clause (ii), the Employee fails to execute or deliver the release or

otherwise revokes the release, then the Employee will be obligated to repay to the Company the full amount of any such Severance or Change in Control payment theretofore made to the Employee, within ninety (90) days following the termination of the Employee’s employment.

7.Death or Disability. Upon the death or Disability (as defined below) of the Employee prior to the end of the Term, this Agreement shall terminate and no further payments shall be made other than those provided for by law and the payment of Base Salary (pursuant to paragraph 4(a)) up to and including the termination date, bonus earned and approved by the Committee (pursuant to paragraph 4(b)), EIP Awards pursuant to the terms of these Awards, reimbursement of expenses incurred prior to such termination (pursuant to paragraph 4(c)), and benefits (pursuant to paragraph 5) accrued prior to the date of such death or Disability but not yet paid. For purposes of this paragraph 7, Disability shall mean any physical or mental incapacity that is documented by qualified medical experts and that results in the Employee’s inability to perform their essential material duties and responsibilities for the Company, with reasonable accommodation, for a period of ninety (90) days in any consecutive twelve (12) month period, all as determined in the good faith judgment of the Board.

8.Restrictive Covenants. The Employee hereby covenants, agrees and acknowledges as follows:

Confidential Information. In the course of their employment by the Company, the Employee will receive and/or be in possession of confidential information of the Company and its parent, subsidiaries, affiliates and divisions, including, but not limited to, information relating to: (i) operational procedures, financial statements or other financial information, contract proposals, business plans, training and operations methods and manuals, personnel records, and management systems policies or procedures; (ii) information pertaining to future plans and developments; and (iii) other tangible and intangible property that is used in the operations of the Company but not made public. The information and trade secrets relating to the business of the Company described in this paragraph 8(a) are hereinafter referred to collectively as the “Confidential Information,” provided that the term Confidential Information will not include any information: (x) that is or becomes generally publicly available (other than as a result of violation of this Agreement by the Employee or someone under their control or direction) or (y) that the Employee receives on a non-confidential basis from a source (other than the Company or its representatives) that is not known by them to be bound by an obligation of secrecy or confidentiality to the Company.

(a)Non-Disclosure. The Employee agrees that they will not, without the prior written consent of the Company, during the period of their employment or at any time thereafter, disclose or make use of any such Confidential Information, except as may be required by law (and, in such case, they will immediately notify the Company of such disclosure request) or in the course of their employment hereunder. The Employee agrees that all tangible materials containing Confidential Information, whether created by the Employee or others, that comes into their custody or possession during their employment, will be and are the exclusive property of the Company.

(b)Return of Confidential Information and Property. Upon termination of the Employee’s employment for any reason whatsoever, they will immediately surrender to the Company all Confidential Information and property of the Company in their possession, custody or control in whatever form maintained (including, without limitation, computer discs and other electronic media), including all copies thereof. The Employee shall be allowed to make and keep a copy of all personal information, including, but not limited to, personal information contained in their contacts directory.

Any Confidential Information that cannot be returned or destroyed shall be kept confidential by the Employee at all times.

(c)Non-Competition. The Employee agrees that, while employed by the Company and for one year after the cessation of their employment with the Company for any reason other than expiration of the Term or a termination pursuant to paragraph 6(b) or 6(c), they will not become employed by or otherwise engage in or carry on, whether directly or indirectly as a principal, agent, consultant, partner or otherwise, any business with any person, partnership, business, corporation, company or other entity (or any affiliate, subsidiary, parent or division thereof) that is in direct competition with the Company.

(d)Non-Solicitation/No-Hiring. The Employee agrees that, while employed by the Company and for the greater of one year after the cessation of their employment with the Company for any reason or the period during which the Employee receives Severance or Change in Control payments, they will not (i) solicit or induce or attempt to solicit or induce any employee, director or consultant to terminate their employment or other engagement with the Company or (ii) employ or retain (or in any way assist, participate in or arrange for the employment or retention of) any person who is employed or retained by the Company or any of its parents, subsidiaries, affiliates and divisions or who was employed or retained by the Company or any of its parents, subsidiaries, affiliates and divisions both within the six (6) month period immediately preceding the Employee’s contemplated employment or retention of such person and on the date the Employee’s employment with the Company ended.

(e)Injunctive Relief and Other Remedies. The Employee acknowledges that the foregoing confidentiality, non-competition and non-solicitation/no-hiring provisions are reasonable and necessary for the protection of the Company and its parent, subsidiaries, affiliates and divisions, and that they will be materially and irrevocably damaged if these provisions are not specifically enforced. Accordingly, the Employee agrees that, in addition to any other relief or remedies available to the Company and its parent, subsidiaries, affiliates and divisions, the Company will be entitled to seek an appropriate injunctive or other equitable remedy for the purposes of restraining Employee from any actual or threatened breach of those provisions, and no bond or security will be required in connection therewith. If any of the foregoing confidentiality, non-competition and non-solicitation/no-hiring provisions are deemed invalid or unenforceable, these provisions will be deemed modified and limited to the extent necessary to make them valid and enforceable.

9.Tax Withholding. The Company shall withhold from any benefits payable under this Agreement all federal, state, local or other taxes as shall be required pursuant to any law or governmental regulation or ruling.

10.Effect of Prior Agreements. This Agreement contains the entire understanding between the parties hereto and supersedes any and all prior agreements between the Company and the Employee.

11.Notices. All notices that are required or may be given pursuant to the terms of this Agreement will be in writing and will be sufficient in all respects if given in writing and (i) delivered personally, (ii) mailed by certified or registered mail, return receipt requested and postage prepaid, or (iii) sent via a responsible overnight courier, to the parties at their respective addresses set forth above, or to such other address or addresses as either party will have designated in writing to the other party hereto. The date of the giving of such notices delivered personally or by carrier will be the date of their

delivery and the date of giving of such notices by certified or registered mail will be the date five days after the posting of the mail.

12.General Provisions.

(a)Nonassignability. Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee or their beneficiaries or legal representatives without the Company's prior written consent, which shall not be unreasonably withheld or delayed; provided, however, that nothing in this paragraph 12(a) shall preclude (i) the Employee from designating a beneficiary to receive any benefit payable hereunder following their death, or (ii) the executors, administrators, or other legal representatives of the Employee or their estate from assigning any rights hereunder to the person or persons entitled thereto.

(b)No Attachment. Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.

(c)Binding Agreement. This Agreement shall be binding upon, and inure to the benefit of, the Employee and the Company and their respective permitted successors and assigns.

(d)Compliance with 409A.

(i)Notwithstanding any other provision of this Agreement, it is intended that the provisions of this Agreement satisfy the provisions of Section 409A of the Internal Revenue Code and this Agreement shall be interpreted and administered, as necessary, so that the payments and benefits set forth herein either shall be exempt from or shall comply with the requirements of Section 409A. To the extent that the Company determines that any provision of this Agreement would cause the Employee to incur any additional tax or interest under Section 409A, the Company shall be entitled to reform such provision to attempt to comply with or be exempt from Section 409A. To the extent that any provision hereof is modified in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee and the Company without violating the provisions of Section 409A.

(ii)Notwithstanding anything in this Agreement or elsewhere to the contrary, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning of Section 409A upon or following a termination of the Employee’s employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” and the date of such separation from service shall be the termination date for purposes of any such payment or benefits. In no event may the Employee, directly or indirectly, designate the calendar year of any payment to be made under this Agreement or otherwise which constitutes a “deferral of compensation” within the meaning of Section 409A.

(iii)All expenses or other reimbursements paid pursuant to this Agreement or other policy or program of the Company that are taxable income to the Employee shall in no event be paid later than the end of the calendar year next following the calendar year in which the Employee incurs such expense or pays such related tax. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, and (iii) such payments shall be made on or before the last day of the Employee’s taxable year following the taxable year in which the expense was incurred.

(iv)Nothing contained in this Agreement or any other agreement between the Employee and the Company or any policy, plan, program or arrangement of the Company shall constitute any representation or warranty by the Company regarding compliance with Section 409A.

13.Entire Agreement; Modification; Waiver.

(a)Entire Agreement. This Agreement represents the complete agreement of the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, promises or representations of the parties, including any prior employment agreement or similar agreement between the parties.

(b)Amendment of Agreement. This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto.

(c)Waiver. No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.

14.Severability. If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not held so invalid, and each such other provision shall, to the full extent consistent with law, continue in full force and effect. If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement, shall, to the full extent consistent with law, continue in full force and effect.

15.Headings. The headings of paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.

16.Governing Law. This Agreement shall be governed by and construed in accordance with, the laws of the State of New York, without giving effect to the choice of law principles thereof to the extent that the application of the laws of another jurisdiction would be required thereby. The Employee and the Company hereby consent to the jurisdiction of the Federal and State courts located in New York, NY and each party waives any objection to the venue of any such suit, action or proceeding and the right to assert that any such forum is not a convenient forum, and irrevocably consents to the

jurisdiction of the Federal and State courts located in the metropolitan New York area in any such suit, action or proceeding

17.Survival of Provisions. Neither the termination of this Agreement, nor of the Employee's employment hereunder, will terminate or affect in any manner any provision of this Agreement that is intended by its terms to survive such termination, including without limitation, the provisions of paragraph 8of this Agreement.

18.Authority to Enter into this Agreement. Both the Company and the Employee represent that they have the authority to enter into this Agreement and neither party is subject to any restriction or limitation that would prevent them from performing their duties and obligations hereunder.

19.Indemnification. The Company shall indemnify the Employee in the event the Employee is a party, or is threatened to be made a party, to any threatened, pending or contemplated action, suit, or proceeding (other than an action by or in the right of the Company) by reason of the fact that the Employee is an officer or director of the Company against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the Employee in connection with such action, suit, or proceeding if the Employee acted in good faith and in a manner the Employee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe the Employee’s conduct was unlawful.

[signature page follows]

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its officers thereunto duly authorized, and the Employee has signed this Agreement, all as of the day and year first above written.

Cineverse Corp.
By:	/s/ McGurk, Christopher
	Name: Chris McGurk                CEO & Chairman of the Board

Mark Lindsey

 /s/ Lindsey, Mark

Name: Chief Financial Officer

EX-99.1

Exhibit 99.1

 

Cineverse Promotes Mark Lindsey to Chief Financial Officer

LOS ANGELES, September 13, 2023 – Cineverse Corp. (“Cineverse” or the “Company”) (NASDAQ: CNVS), a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, today announced the appointment of Mark Lindsey as Chief Financial Officer (CFO), effective September 14, 2023.

Mr. Lindsey has served as Executive Vice President, Accounting and Finance, at Cineverse since November 2022 – overseeing accounting, financial reporting, regulatory compliance and financial planning. The promotion marks a streamlining of the EVP and CFO roles. Lindsey, an active CPA, brings more than 20 years of experience across all aspects of accounting, financial reporting, regulatory compliance, and financial analysis in various industries. He previously served as Chief Accounting Officer at Firefly, a mobility-based advertising and data platform; Chief Financial Officer at Canapi Ventures, a financial technology-focused venture capital firm; and Chief Accounting Officer at American Capital, a publicly traded private equity firm and global asset manager that managed over $100 Billion in assets. His media experience includes a stint at SiriusXM as Senior Director of Financial Reporting, while his foundational roles on the public accounting side included tenures at the PCAOB and PricewaterhouseCoopers.

As CFO, Mr. Lindsey will lead Cineverse’s global finance and accounting teams, overseeing financial planning, accounting, capital markets, strategy, and cost-streaming initiatives – bringing his depth of experience in capital restructuring and cost-streaming to help the Company realize financial goals in the near and long-term.

Mr. Lindsey will succeed John Canning who will be leaving the Company upon the completion of his employment agreement term on September 13, 2023.

Chris McGurk, Chairman and CEO of Cineverse, stated, “Given Mark’s contributions to Cineverse’s financial operations, accounting and reporting, his promotion to CFO is a natural and well-deserved next step. Having demonstrated his ability to lead a results-oriented team and drive operational efficiencies in recent critical months, Mark will play a key role in strengthening our balance sheet and advancing our strategic initiatives – focusing on bank relationships, short and long-term financial and strategic planning, and India-led cost savings. Given his value-oriented mindset and deep understanding of our business, we are thrilled to have Mark continue as part of the Cineverse leadership team.”

Mr. Lindsey commented, “I am excited to lead the finance and accounting organization at Cineverse as Chief Financial Officer. We have a clear vision and set of objectives for Fiscal Year

2024, and I look forward to contributing to the Company’s future growth and progress toward achieving our strategic goals.”

About Cineverse

Cineverse is a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, all powered by its advanced, proprietary technology platform. Cineverse currently features enthusiast brands for subscription video on demand (SVOD), advertising-based video on demand (AVOD) and free, ad-supported streaming television (FAST) channels. Cineverse entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to some of the world's largest media, retail and technology companies. For more information, please visit www.cineverse.com.

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of Cineverse officials during presentations about Cineverse, along with Cineverse's filings with the Securities and Exchange Commission, including Cineverse's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-K, are "forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act''). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates,'' "intends,'' "plans,'' "could," "might," "believes,'' "seeks," "estimates'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings, or growth rates), ongoing business strategies or prospects, and possible future actions, including those relating to the timing and completion of the proposed offering, which may be provided by Cineverse's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties, and assumptions about Cineverse, its technology, economic and market factors, and the industries in which Cineverse does business, among other things. These statements are not guarantees of future performance, and Cineverse undertakes no specific obligation or intention to update these statements after the date of this release.

For additional information, please contact:

At Cineverse

Julie Milstead

424-281-5411

investorrelations@cineverse.com

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Document And Entity Information	Sep. 12, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 12, 2023
Entity Registrant Name	Cineverse Corp.
Entity Central Index Key	0001173204
Entity Emerging Growth Company	false
Securities Act File Number	001-31810
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3720962
Entity Address, Address Line One	244 Fifth Avenue, Suite M289
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	206-8600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	CLASS A COMMON STOCK, PAR VALUE $0.001 PER SHARE
Trading Symbol	CNVS
Security Exchange Name	NASDAQ