Company: NEWTP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001587987-25-000073
Chunk: 54

Company: NewtekOne, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 54
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On January 1, 2025, the Company and Mr. Sloane entered into an amendment to Mr. Sloane’s 2024 Employment Agreement, pursuant to which Mr. Sloane’s annual base compensation was increased to $1.0 million and the term of the 2024 Employment Agreement was extended through March 31, 2026. The other terms and conditions of Mr. Sloane’s 2024 Employment Agreement remain unchanged.

Mr. Downs’ 2024 Employment Agreement provided for:

• a twelve-month term through March 31, 2025 at an annual base salary of $700,000;

• at least one annual salary review by the Board of Directors;

• participation in any discretionary bonus plan established for senior executives; and

• retirement and medical plans, customary fringe benefits, paid time off and sick leave.

Mr. Downs has entered into a new employment agreement with Newtek Bank, effective as of April 22, 2025, pursuant to which he will serve as the President of Newtek Bank, for a term through March 31, 2026, at an annual base salary of $750,000.

Mr. Schwartz’s 2024 Employment Agreement provided for:

• a twelve-month term through March 31, 2025 at an annual base salary of $500,000;

• at least one annual salary review by the Board of Directors;

• participation in any discretionary bonus plan established for senior executives; and

• retirement and medical plans, customary fringe benefits, paid time off and sick leave.

Mr. Schwartz’ 2024 Employment Agreement was renewed as of April 22, 2025, for a term through March 31, 2026, at an annual base salary of $625,000.

Mr. Young’s 2024 Employment Agreement with Newtek Bank provided for:

• a term through March 31, 2025 at an annual base salary of $700,000;

• at least one annual salary review by the Board of Directors;

• participation in any discretionary bonus plan established for senior executives; and

• retirement and medical plans, customary fringe benefits, paid time off and sick leave.

Mr. Price’s 2024 Employment Agreement provided for:

• a term through May 15, 2025, at an annual base salary of $433,000;

• at least one annual salary review by the Board of Directors;

• participation in any discretionary bonus plan established for senior executives; and

• retirement and medical plans, customary