Dynatronics Corporation announced that Brian D. Baker has rejoined full-time as its Chief Operating Officer, effective as of January 17, 2022. Mr. Baker first joined the Company as President of Therapy Products in February 2018. He served as Chief Operating Officer from May 2019 until his promotion to Chief Executive Officer in August 2019.

Mr. Baker held that position until July 2020, when he resigned due to health issues relating to the COVID-19 virus. Following his resignation as Chief Executive Officer, Mr. Baker continued as a member of the Dynatronics Board of Directors and a consultant to the Company. The Company has not staffed the COO position since it was last held by Mr. Baker in August 2019.

In connection with his appointment as COO, the Company entered into a letter agreement with Mr. Baker (the “Employment Letter”) effective January 17, 2022, which provides for at-will employment on the following basis: an annual base salary of $250,000; a target annual cash bonus of $43,500 (subject to Company results of operations and successful completion of goals, as assessed by the Compensation Committee of the Board); eligibility for annual grants of restricted stock units up to a targeted value of $43,500, at the discretion of the Compensation Committee. 50% of the RSU's will vest on the date of grant, and 50% will vest on the first anniversary of the date of grant. Mr. Baker is also subject to non-competition and confidentiality agreements with post-termination restrictive covenants.

The Company has also entered into an indemnification agreement with Mr. Baker on the same terms as it has with its other directors and executive officers.