CEO Seth Daggett terminated without cause; enters separation agreement for $2.56M severance

NI Holdings, Inc.

Former CEO Seth Daggett receives $2,559,947 severance plus $72,968 for 24 months of health coverage.
Separation Agreement signed Oct 29, 2025, following without-cause termination on Oct 10, 2025.
Agreement includes mutual non-disparagement and cooperation for six months at $400/hour.
Executive releases all employment-related claims; retains vested benefits and ESOP/401(k) rights.
Seven-day revocation period applies; agreement effective after revocation expires.

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