Summary by Futu AI
On January 18, 2024, Celsius Holdings, Inc. announced the signing of a new employment agreement with Mr. John Fieldly, the company's CEO and Chairman of the Board. The agreement, effective as of January 1, 2024, follows the conclusion of Mr. Fieldly's previous employment term on December 31, 2023. The new contract establishes a three-year term with automatic one-year extensions unless terminated with ninety days' notice. Mr. Fieldly's annual base salary is set at $850,000, with eligibility for an annual cash bonus equal to 100% of his base salary based on performance targets. Additionally, he is entitled to annual equity awards, with a $3.0 million target value for 2024. The agreement includes provisions for severance payments and full vesting of equity in the event of termination without cause or for good reason, with enhanced benefits if such termination occurs around a change in control of the company. The agreement also outlines standard benefits, reimbursement policies, and customary covenants regarding non-solicitation, non-competition, and intellectual property.