Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 98

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 98
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. Serrano is, under certain conditions, subject to one‑year post-employment non-competition and non-solicitation covenants, as well as confidentiality covenants.

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Mah and Nario-Eng Employment Agreements . On February 1, 2022, we entered into an employment agreement with Kristine R. Nario-Eng, our Chief Financial Officer (the “Nario-Eng Employment Agreement”). On December 13, 2022, we entered into a substantially similar employment agreement with Nicholas Mah, our President, which took effect on January 1, 2023 (the “Mah Employment Agreement”). Each of the Mah and Nario-Eng Employment Agreements have a two-year term (unless sooner terminated in accordance with the terms thereof) and are subject to potential automatic annual one-year renewals after the initial term. The initial term of the Nario-Eng Employment Agreement began on February 1, 2022 and ended on January 31, 2024. The initial term of the Mah Employment Agreement began on January 1, 2023 and ended on December 31, 2024. Pursuant to the Mah and Nario-Eng Employment Agreements, in the event we fail to provide Mr. Mah or Ms. Nario-Eng with written notice of our determination not to extend the term of their respective employment agreement at least 90 days prior to the expiration date of the initial or any applicable renewal term, the Mah and/or Nario-Eng Employment Agreement, as applicable are automatically extended for an additional one-year period following the end of such term.

Pursuant to their respective employment agreements, Mr. Mah and Ms. Nario-Eng are entitled to annualized base salaries that are subject to future increases at the discretion of the Compensation Committee or the Board of Directors. Mr. Mah and Ms. Nario-Eng are also eligible to earn annual incentive bonuses based on the level of achievement of specified performance measures set by the Compensation Committee. No later than March 31 of each fiscal year during the term of each of the Mah and Nario-Eng Employment Agreements, the Compensation Committee will adopt the Bonus Plan that will set forth the performance criteria for the fiscal year. If we or Mr. Mah or Ms. Nario-Eng, as applicable, satisfy the performance criteria contained in the Bonus Plan for a fiscal year, Mr. Mah or Ms. Nario-Eng, as applicable, will receive an annual incentive bonus in an amount pursuant