US Energy (USEG) has provided an announcement.
U.S. Energy Corp. has updated its employment contract with CEO Ryan L. Smith, extending his tenure until at least January 1, 2027, with potential for automatic renewals. Smith’s remuneration includes a $335,475 base salary, performance-based cash bonuses, and long-term equity incentives. He’s also entitled to standard executive benefits and may receive additional discretionary bonuses. Termination clauses cover scenarios like misconduct and disability, with specific severance benefits outlined, including accelerated equity vesting. Post-employment, Smith is restricted from competing or poaching employees for set periods.
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