CEO Kenny Young exits B. Riley consulting; new direct pact pays $800k/yr + $800k signing bonus

Babcock & Wilcox Enterprises, Inc.

BRPI Consulting Agreement with B. Riley affiliate terminated effective Sept 20, 2024; Young remains CEO and Chairman.
Entered Independent Contractor Agreement with OpenSky LLC (Young's wholly-owned entity) through Dec 31, 2028.
Annual consulting fee of $800,000 paid monthly; signing bonus of $800,000 with pro-rata clawback if terminated for cause or voluntary within 3 years.
If company terminates without cause, must continue paying consulting fee for remainder of original term through 2028.
Young receives D&O indemnification and coverage under company's liability insurance for 6 years post-termination.

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