Celsius Holdings (CELH) has released an update to notify the public and investors about its officers.
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On February 2, 2024, Celsius Holdings, Inc. replaced the existing employment agreement of their CFO, Mr. Jarrod Langhans, with a new one effective January 1, 2024, for an initial three-year term with potential annual extensions. Mr. Langhans will receive a $500,000 annual base salary, eligible for a 50% bonus based on performance, and annual equity awards. Termination conditions include severance payments and benefits, with enhanced terms if termination occurs around a change in control of the company. The agreement also covers business expense reimbursements, benefit plan participation, insurance costs, vacation policies, and contains non-compete and confidentiality clauses.
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For a comprehensive understanding of the announcement, you can read the full document here.