Summary by Futu AI
On November 20, 2024, Riot Platforms' Compensation Committee approved amendments to the executive employment agreements. The revised agreements clarify procedures for separation agreements and severance benefits, including a revocation period. Severance benefits will be paid in a lump sum, with 50% disbursed within 20 business days of the Severance Agreement and the remainder after 6 months and 1 day.The agreements also address the timing of stock award settlements. Service-based awards will vest pro rata, and performance-based awards will accelerate, both within five business days of the Severance Agreement. Executives Jason Les, Benjamin Yi, William Jackman, and Jason Chung have entered into these amended agreements, which have a 36-month term, automatically renewing for 12-month periods unless terminated earlier.