On April 1, 2026, ClearOne Inc. (the "Company") entered into a letter agreement with Derek L. Graham, ensuring his continued service as the Company's chief executive officer on a transitional basis following the expiration of his previous employment agreement on March 31, 2026. Under the terms of the new Letter Agreement, Mr. Graham will provide consulting services for up to ten hours per week at a rate of $160 per hour while maintaining all functions of the CEO. The agreement does not have a fixed term and can be terminated by either party at any time. This arrangement is expected to provide stability during a critical transitional period for the Company, allowing for continuity in leadership as it navigates its operational challenges and strategic objectives. The Company has emphasized the importance of Mr. Graham's experience and leadership in guiding ClearOne through this phase, particularly in maintaining compliance with public company obligations and managing customer relations regarding legacy products. The agreement is seen as a positive step towards ensuring effective governance and operational execution during this transitional period.

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