Seritage extends retention bonuses for COO ($750K) and CLO ($796.9K); annual 5% salary hikes

Seritage Growth Properties

COO Dinenberg's retention bonus $750K annually; CLO Fernand $796.9K; then 105% of prior each year.
Annual salary increases 5% each year starting Mar 2024; target bonus remains 75% of salary with no performance metrics.
Cash awards replace equity: $300K (Dinenberg) and $318.75K (Fernand) initial Target Equity Amount, scaling 105% yearly.
Amendments extend retention through Mar 2025 (Dinenberg) and Mar 2026 (Fernand) as company pursues sale plan.
Accelerated vesting and lump-sum severance upon termination without cause, death, or non-renewal.

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