other material
confidence high
sentiment neutral
materiality 0.45
Verde Clean Fuels enters employment agreements with CEO Miller ($508k base) and CTO Doyle ($400k base)
Verde Clean Fuels, Inc.
- CEO Ernest Miller: base salary $508,000, annual cash bonus target up to 75% of base, initial option grant with $889,000 Black-Scholes fair value.
- CTO John Doyle: base salary $400,000, annual cash bonus target up to 50% of base, initial option grant with $600,000 fair value.
- Both agreements have a 4-year term ending Feb 15, 2027; severance equal to 1.5x base salary (18 months) if terminated without cause or for good reason.
- Change-in-control severance: Miller receives 2.625x base, Doyle receives 2.25x base, each in a lump sum if termination occurs within 24 months after a CIC.