Company: BCG
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001104659-25-055554
Chunk: 32

Company: Binah Capital Group, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 32
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termination restrictive covenants of non-solicitation of employees, and customers. Mr. Gould will be subject to a 12-month, post-termination non-competition clause, provided that if his initial or renewal term is not extended or where he resigns without Good Reason, he must be compensated for the restricted period in order for the non-competition clause to be enforceable. Each of the non-solicitation and non-competition provisions, as applicable, will be extended by one day for each day that Mr. Gould is deemed by a court or other tribunal to have violated any such restrictive covenants. Mr. Shane Employment Agreement On August 14, 2024, the Company entered into an executive employment agreement with David Shane, the Company’s Chief Financial Officer (the “ Shane Agreement ”). The Shane Agreement will be for an initial, three-year term and is subject to renewal for successive one-year terms subject to Mr. Shane providing notice to our Board of his intent to renew the agreement and our Board’s decision to approve such renewal. 25 TABLE OF CONTENTS Notwithstanding the foregoing, Mr. Shane’s employment is “at-will” and the Shane Agreement may be terminated at any time, by either party, with or without Cause (as defined below) or advance notice. Mr. Shane’s 2024 annualized base salary is $400,000. In addition, Mr. Shane is eligible to earn an annual incentive bonus. For calendar year 2024, Mr. Shane is guaranteed a bonus of no less than $350,000. For any subsequent year, Mr. Shane’s target bonus amount will be up to 100% of his base salary, provided that Mr. Shane may be eligible for a bonus of up to 200% of his annual base salary, based on Mr. Shane’s exceptional performance during such year. Any annual bonus will be based on the Company’s performance and Mr. Shane’s achievement of goals established by our Compensation Committee and Board. Payment of any annual bonus is also subject to Mr. Shane’s continuous employment through December 31 of the relevant bonus year, with such bonus payable no later than March 31 of the year following the relevant bonus year. Pursuant to the Shane Agreement, the Company will grant Mr. Shane nonqualified stock options to purchase 250,000 shares of common stock of the Company (the “initial options”), subject to any reasonable capitalization adjustments before the date of grant, under the terms of the Company’s 2024 Equity Incentive Plan