Corporate GovernanceMay 20, 2026, 04:47 PM
Exyn Technologies Amends CEO Deal Completion Bonus Structure
AI Summary
Exyn Technologies, Inc. approved Amendment No. 3 to the Executive Employment Agreement with CEO Brandon Torres Declet on May 18, 2026. This amendment modifies the CEO's deal completion bonus structure, making him eligible for a bonus upon the closing of an initial public offering, a direct listing, or a Change in Control transaction. The bonus amount is tied to the net proceeds and pre-money valuation of the transaction, with a minimum payout of $225,000.
Key Highlights
- Exyn Technologies amended CEO Brandon Torres Declet's employment agreement on May 18, 2026.
- The amendment establishes a new deal completion bonus structure for the CEO.
- Bonus is contingent on an IPO, direct listing, or a Change in Control transaction.
- CEO must remain employed through the transaction date to receive the bonus.
- Bonus is 1% of net proceeds if pre-money valuation is $50,000,000 to less than $100,000,000.
- Bonus is 1.5% of net proceeds if pre-money valuation is $100,000,000 or more.
- Net proceeds must be at least $30,000,000 for percentage-based bonus.
- The minimum deal bonus is $225,000, whichever is greater.
- The bonus will be paid 100% within 15 calendar days of the transaction closing.
Price Impact
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