EVP, General Counsel Michael Olsen to transition roles, retire Dec 2027; receives $3.575M retention payment

Optimum Communications, Inc.

Effective October 1, 2026 (or earlier upon successor), Olsen steps down as EVP/GC/CRO, becomes Senior Executive Counsel, Capital Transformation.
Receives lump-sum cash retention payment of $3.575 million, fully earned on December 31, 2027, contingent on continued employment.
If employment terminates before Dec 31, 2027 for reasons other than qualifying termination, Olsen must repay after-tax value of retention payment.
Through Transition Date, Olsen gets current base salary, incentive comp, and vesting; after, only base salary/benefits and continued vesting.
Qualifying termination (without cause, good reason, death/disability) before Dec 31, 2027 entitles Olsen to lump sum base salary through 2027 and continued LTI vesting.

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