UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 3, 2022, Faraday Future Intelligent Electric Inc. (the “Company”), Faraday&Future Inc., a California corporation and a wholly owned subsidiary of the Company and Dr. Carsten Breitfeld, the Company’s Global Chief Executive Officer, entered into an amendment (the “Amendment”) to Dr. Breitfeld’s employment agreement, dated as of August 6, 2019, as amended effective as of July 21, 2021, and further amended on January 31, 2022 (the “Employment Agreement”).
The Amendment extends the term of the Employment Agreement for six months from September 3, 2022 to March 3, 2023 (the “Term Extension”). Except for the Term Extension, all other terms of the Employment Agreement remain the same. The Company and Dr. Breitfeld agreed to the Term Extension to, among other things: provide the Company with sufficient time to conduct a competitive market review to be used when evaluating and determining Dr. Breitfeld’s compensation on a go-forward basis; allow Dr. Breitfeld and the Company to stay focused on the launch of the FF 91; and allow the Company to consider the Company’s liquidity situation at the end of the Term Extension in connection with its review of Dr. Breitfeld’s compensation.
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K:
No. | Description of Exhibits | |
10.1 | Second Amendment to Amended and Restated Employment Agreement by and among Faraday Future Intelligent Electric Inc., Faraday&Future Inc. and Carsten Breitfeld dated September 3, 2022. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
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.
Faraday Future Intelligent Electric Inc. | ||
Date: September 6, 2022 | By: | /s/ Becky Roof |
Name: | Becky Roof | |
Title: | Interim Chief Financial Officer |
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