Item 5. Other Information. Appointment of Diego Panama as Chief Revenue Officer and Departure of Marty Hahnfeld as Chief Customer Officer On May 9, 2022, we appointed Diego Panama as Chief Revenue Officer. Mr. Panama will commence his new position with Olo on July 5, 2022. On May 9, 2022, Marty Hahnfeld resigned from his position as Chief Customer Officer, effective June 30, 2022, or the Separation Date. Mr. Hahnfeld’s resignation did not result from a disagreement with Olo on any matter relating to our operations, policies, or practices. Mr. Hahnfeld will continue to serve as an advisor to Olo from July 1, 2022 until December 31, 2022, the Advisory Termination Date, pursuant to an Advisor Agreement entered between Mr. Hahnfeld and Olo on May 9, 2022. In connection with Mr. Hahnfeld’s departure, we and Mr. Hahnfeld have entered into a separation and release agreement effective as of June 30, 2022, or the Separation Agreement. Pursuant to the Separation Agreement, in exchange for granting and not revoking a customary release of claims and otherwise complying with the Separation Agreement, Mr. Hahnfeld will be entitled to receive $190,000, or the Separation Payment, which is an amount equal to six months of his base salary ($380,000 per year) payable in equal installments on our regular payroll schedule over the six month period following the Separation Date, commencing within 60 days following the Separation Date. Mr. Hahnfeld will also receive continued coverage under COBRA through to the Advisory Termination Date and a commission payment in an amount equal to the average sales commissions and/or bonuses earned monthly during the 12 months prior to the Separation Date multiplied by six (6), or the Target Commission. The Target Commission is payable on the date the first installment of the Separation Payment is payable under the Separation Agreement. In addition, the Separation Agreement provides that as a condition for Mr. Hahnfeld entering into the Advisor Agreement, all existing unvested stock option grants and RSU awards held by Mr. Hahnfeld as of the Separation Date will continue to vest through the Advisory Termination Date and all vested options held as of the Advisory Termination Date may be exercised through the earlier of the expiration of the original term of each option or December 31, 2023. The Separation Agreement also contains a reaffirmation of Mr. Hahnfeld’s confidentiality, restrictive covenant, and other ongoing obligations to Olo. The foregoing summary descriptions of the terms of the Separation Agreement and the Advisor Agreement are a summary only and do not purport to be complete, may not contain all information that is of interest to the reader, and are qualified in their entirety by reference to the full text of the Separation Agreement and the Advisor Agreement, which we intend to file as exhibits to our Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. 44