CEO Ryan Smith enters new employment agreement through January 2027; base salary $335,475

US ENERGY CORP

Annual base salary $335,475; target cash bonus of 100% of base salary (no guarantee).
Initial term to January 1, 2027, with automatic two-year renewals.
Severance: 12 months' base + target bonus on without-cause/good reason termination; 2x on change of control.
Non-compete for 6 months in any U.S. county where company holds mineral interests; non-solicit for 12 months.
Agreement effective July 1, 2024; amends and restates prior May 2022 agreement.

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