Ethan Allen enters new CEO employment agreement with Kathwari, $1.15M base salary, three-year term through June 2025

ETHAN ALLEN INTERIORS INC

New employment agreement for Chairman/President/CEO M. Farooq Kathwari effective July 1, 2022, term through June 30, 2025.
Base salary of $1,150,000 per year; annual incentive bonus target 100% of base salary ($1,150,000), maximum 140%.
Performance-based stock units granted annually; threshold 65% of base salary, target 105%, maximum 145%.
Restricted stock units granted annually equal to 27% of base salary ($310,500).
Termination provisions include salary continuation and severance up to $2.0M for certain terminations.

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