NewLake Capital amends CEO Coniglio's employment agreement with bonus and severance clarifications

NewLake Capital Partners, Inc.

Amended agreement modifies annual bonus eligibility: must be employed on payment date to receive bonus, unless terminated without Cause or for Good Reason.
Resignation without Good Reason forfeits any unpaid Annual Bonus; prior agreement had different terms.
New severance provision: if non-renewal occurs after signing a Change of Control agreement but before consummation, CEO gets 2x base salary plus target bonus, equity vesting, and COBRA payment.
Base salary remains at $400,000; target annual bonus at 75% of base salary with maximum 150% of target.
Term runs through March 18, 2025, with automatic one-year renewals unless either party gives 90 days notice.

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