secwatch.observer — SEC 8-K summary
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Issuer:     NewLake Capital Partners, Inc. (NLCP)
CIK:        0001854964
Form:       8-K
Filed at:   2024-12-17T23:59:59+00:00
Accession:  0001854964-24-000064
Event type: other
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854964/000185496424000064/0001854964-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854964/000185496424000064/nclp-20241216.htm
  HTML page:      https://secwatch.observer/filing/0001854964-24-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer