CEO Randall J. Scott to retire by Dec 31, 2022; consulting role through 2027

RARE ELEMENT RESOURCES LTD

Scott will serve as CEO until the earlier of Dec 31, 2022 or successor start date.
Severance of one year base salary contingent on signing consulting agreement and release.
Consulting agreement runs from retirement through Dec 31, 2027; $20,125/month through 2022.
All stock options remain outstanding and continue to vest during consulting term.
Non-compete restricts Scott from acquiring interests within 20 miles of company properties.

item 5.02 item 9.01

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Departed

Randall J. Scott

Chief Executive Officer

REEMF · RARE ELEMENT RESOURCES LTD

Effective: 2022-12-31
Filed: June 29, 2022, 7:59 PM ET

On June 27, 2022, Rare Element Resources, Inc. (the “ Company ”), a Wyoming corporation and wholly owned subsidiary of Rare Element Resources Ltd. (the “ Registrant ”), entered into an amendment to the employment agreement with the Company’s Chief Executive Officer, Randall J. Scott, to provide for certain terms of Mr. Scott’s planned retirement (the “ Employment Agreement Amendment ”

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Randall J. Scott departed as Chief Executive Officer at RARE ELEMENT RESOURCES LTD.

Action: retire
Role: Chief Executive Officer

Exact text from the filing

On June 27, 2022, Rare Element Resources, Inc. (the “ Company ”), a Wyoming corporation and wholly owned subsidiary of Rare Element Resources Ltd. (the “ Registrant ”), entered into an amendment to the employment agreement with the Company’s Chief Executive Officer, Randall J. Scott, to provide for certain terms of Mr. Scott’s planned retirement (the “ Employment Agreement Amendment ”

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Source: SEC EDGAR

accession 0001419806-22-000015

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