Lifeway Foods enters new employment agreement with CEO Julie Smolyansky; $1M salary, $2M retention bonus

Lifeway Foods, Inc.

Base salary set at $1,000,000 per year; target annual bonus 80% of base salary, target equity grant 75% of base salary.
One-time retention bonus of $2,000,000; repayment partially cliffs over 2 years if termination for cause or without good reason before Dec 20, 2026.
Severance enhanced: 2x salary+bonus for without cause/good reason (non-CIC); 3x for change-in-control termination (new provision).
New two-year non-compete and non-solicitation covenants added; company also clarified IP ownership except for 'The Kefir Cookbook'.
Agreement effective January 1, 2025, supercedes prior 2002 agreement; compensation committee advised by independent consultant.

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