CEO Andrew Lustgarten signs new employment agreement with base salary $1M, target bonus 200%

Madison Square Garden Sports Corp.

Base salary not less than $1,000,000 annually; target bonus not less than 200% of base salary.
Long-term incentive target value not less than $4,000,000; FY2022 mid-year grant of $700,000.
Severance upon termination without cause or for good reason before Dec 31, 2024: at least 2x (base + target bonus).
Equity and cash awards accelerate vesting upon qualifying termination; non-compete covenant for 1 year.
Agreement effective January 1, 2022; replaces prior employment agreement.

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