NextBoat appoints Ross Tannenbaum CEO; Brian John resigns as CEO but remains director

OFF THE HOOK YS INC.

Ross Tannenbaum became CEO on Sept 28, 2026, succeeding Brian S. John, who resigned as CEO but remains a NextBoat director.
Tannenbaum's employment agreement sets initial base salary of $240,000, rising to $400,000 after the first year, with a four-year initial term.
He received inducement options for 2,500,000 shares at $1.96: 1,000,000 time-vesting, 1,000,000 performance-based, and 500,000 tied to a $5.00 VWAP.
Annual bonus starts at $100,000 if breakeven Adjusted EBITDA is achieved for FY2027, plus 2.5%-6% of Adjusted EBITDA above thresholds.
Severance includes 12 months' base salary; a qualifying termination after a change in control pays 1.5x salary and target bonus.

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