{"url_path":"/sec/elwt/8-k/2026-06-17/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 ****Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-17","source_url":"https://www.sec.gov/Archives/edgar/data/2063863/0001104659-26-074902-index.html","accession_number":"0001104659-26-074902","cik":"0002063863","ticker":"ELWT","issuer_name":"Elauwit Connection, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2063863/0001104659-26-074902-index.html","primary_entity_key":"0002063863","primary_entity_name":"Elauwit Connection, Inc."},"word_count":488,"has_tables":true,"body_markdown":"**Item 5.02****Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;\nCompensatory Arrangements of Certain Officers.**\n\n \n\nEffective as of June 15, 2026, the Board of Directors\nof Elauwit Connection, Inc. (the “Company”) appointed Nick Jones, age 47, to serve as the Chief Information Officer and Chief\nOperating Officer of the Company. Prior to joining the Company, Mr. Jones served as Executive Vice President and Chief Operating Officer\nat World Cinema, Inc. from August 2016 to June 2026. From April 2006 to August 2016, Mr. Jones served as Chief Executive Officer at NJT,\nInc. Prior to this service, Mr. Jones served in various Network Engineer roles at Schlumberger, First Edge Sornson and Castle Dental between\nJanuary 1998 to April 2006.\n\n \n\nIn connection with Mr. Jones’s appointment,\nthe Company and Mr. Jones entered into an executive employment agreement, effective as of June 15, 2026, pursuant to which Mr. Jones will\nserve as the Company’s Chief Information Officer and Chief Operating Officer. The employment agreement will be in effect until June\n15, 2029. Under the employment agreement, Mr. Jones will (i) receive an annual base salary of $300,000; (ii) be eligible to receive an\nannual cash bonus based on performance and achievement of Company goals and objectives as defined by the Compensation Committee; (iii)\nbe granted a one-time sign-on award of restricted stock units under the Elauwit Connection, Inc. 2025 Stock Incentive Plan with a grant\ndate fair value of $50,000, vesting over a one-year period subject to continued employment with the Company; and (iv) be eligible to participate\nin the Company’s other incentive, welfare and benefit plans made available to other senior executives. In\naddition, Mr. Jones is entitled to certain payments upon death, disability, a termination without Cause or a resignation by Mr. Jones\nfor Good Reason, all as defined and set forth in detail in the employment agreement. The employment agreement includes standard restrictive\ncovenants, including non-disclosure, non-competition and non-solicitation, and terms and conditions customarily\nfound in similar agreements. Mr. Jones has also entered into an indemnification agreement on the same terms as the Company’s other\nsenior executives.\n\n \n\nThere are no arrangements or understandings between\nMr. Jones and any other person with respect to his appointment as Chief Information Officer and Chief Operating Officer and there are\nno family relationships between him and any director or executive officer of the Company. The Company has not entered into any transactions\nwith Mr. Jones that are reportable pursuant to Item 404(a) of Regulation S-K.\n\n \n\nIn connection with this transition, Richard Alder was released from his position as Chief Operations Officer effective as of June\n11, 2026. Mr. Alder is entitled to certain payments consistent with termination without cause pursuant to the terms of his executive\nemployment agreement.\n\n \n\nOn June\n17, 2026, the Company issued a press release regarding this transition, a copy of which is attached hereto as Exhibit 99.1 to this\nCurrent Report on Form 8-K."}