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Connexa Sports Technologies Inc. (NASDAQ:YYAI), previously known as Slinger Bag Inc., disclosed the formalization of executive employment agreements with its senior leadership on February 12, 2025. Thomas Tarala, 58, and Guibao Ji, 60, have been confirmed as Chief Executive Officer and Chief Financial Officer, respectively, roles they have occupied since November 21, 2024. According to InvestingPro data, the company, currently valued at $6.5 million, has shown significant stock volatility with a 16% gain in the past week, though it remains well below its 52-week high of $4.94.
Tarala, with 30 years of international corporate finance experience, has been appointed as the company secretary on the same date. His background includes serving as a partner at Baker McKenzie and as General Counsel for HNA Group (International) Company Limited. His employment agreement guarantees a five-year term with a base salary of $720,000, a $300,000 signing bonus in common stock, and a $1,000,000 bonus for his role in Connexa’s merger and Nasdaq listing, which remains unpaid. Additionally, he is entitled to an annual bonus equal to at least his base salary, special bonuses in the event of a Change of Control, and participation in bonus and equity plans retroactive to November 21, 2024. InvestingPro analysis reveals the company maintains a strong balance sheet with more cash than debt, though it faces challenges with weak gross profit margins.
Ji, a certified public accountant with 25 years of experience, has worked at Shenzhen Wanda Accounting Firm since 2005. His agreement includes a $250,000 annual salary and a discretionary performance-based bonus. His employment can be terminated with one week’s notice during the first three months and one month’s notice thereafter.
The announcement, based on a press release statement, emphasizes the company’s commitment to its leadership structure as it continues to navigate the competitive sports technology landscape. The detailed compensation packages reflect Connexa’s strategic focus and the value placed on experienced executives in steering the company’s growth.
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