On August 16, 2018, Health Insurance Innovations, Inc. announced a transition in the leadership. As a part of this transition, Mr. Bruce Telkamp, the company's Consumer Division, and Dr. Sheldon Wang, the company's Chief Technology Officer, will cease to be employed by the company as of August 17, 2018. Also as a part of this transition, the Employment Agreement for each of Mr. Telkamp and Dr. Wang was terminated by the company "without cause" on August 16, 2018, which entitles each of Mr. Telkamp and Dr. Wang to severance compensation in the form of 12 months of base salary continuation under the terms of such Employment Agreements so long as they execute a general release in favor of the company.