Village Farms CEO Michael DeGiglio enters new three-year employment agreement

Village Farms International, Inc.

Base salary set at $1,022,880/year, increased 4% retroactive to May 15, 2024.
Maximum annual STIP bonus of 100% base salary; LTIP bonus up to 100% base in stock options.
Severance: if terminated without cause or for good reason, lump sum equal to 3x salary plus pro rata bonus.
Term from Aug 15, 2024 to Aug 15, 2027, with automatic one-year renewals.
Agreement includes non-compete, confidentiality, and clawback policy provisions.

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