Bright Mountain Media enters new CEO employment agreement with Matt Drinkwater effective Dec 1, 2024

Bright Mountain Media, Inc.

Three-year term with automatic one-year renewals; base salary $400,000 plus annual bonus up to $600,000 based on performance.
Grants options for 125,000 shares at $0.035/share, vesting over four years under the Stock Option Plan.
Non-compete for one year post-termination (if for cause) and non-solicitation for two years; severance of 100-150% of base salary for 12 months if terminated without cause.
Enhanced severance of 150% of base salary for 12 months if termination occurs within 3 months before or 1 year after a change in control.
Replaces previous employment agreement; effective December 1, 2024.

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