Arena Group increases President Barrett's salary to $500k, signs severance pacts with CFO Smith

Arena Group Holdings, Inc.

Henry Barrett's base salary raised from $400k to $500k effective Aug 1, 2023.
Barrett receives $150k signing bonus ($100k by Aug 15, 2023; $50k by Oct 15, 2023).
Company will grant Barrett options/RSUs/restricted stock awards (amount TBD by board and CEO).
Severance agreements with Barrett and CFO Smith: 12 months salary if terminated without cause or for good reason within 24 months after Change in Control.
Severance payments are salary continuation over 12 months, subject to release of claims.

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