Red Cat enters new employment agreement with CTO George Matus, includes 600K RSU grant

Red Cat Holdings, Inc.

Annual base salary of $230,000; eligible for annual bonus up to 50% of salary ($115,000).
Receives one-time award of 600,000 time-based RSUs: 150,000 vest immediately, 75,000 per quarter for six quarters.
Performance award of 300,000 shares contingent on production award from a specified customer.
Agreement term through May 10, 2026, with automatic one-year renewals unless either party gives 3 months' notice.
If terminated without cause or for good reason, severance includes 12 months' salary, accelerated vesting, and COBRA for 6 months.

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