Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 1615

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1615
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2024  17,217   -   -   6,000   2023  15,533   -   -   6,000 

(1)The amount for each of Messrs. MacPherson, Pavlish and Trettel includes $6,000 for a home office allowance in 2024 and 2023. The amount for each of Messrs. MacPherson and Pavlish also includes $9,859 and $2,310, respectively, for medical expense reimbursement in 2024 and $14,809 and $5,075, respectively, for medical expense reimbursement in 2023. In addition, the amount for Mr. Pavlish in 2023 includes a gross up for taxes of $14,140 in connection with the exercise of stock options.

Executive Employment Agreements

On June 7, 2024, the Company entered into an amended and restated employment agreement with Richard MacPherson, effective as of June 1, 2024, pursuant to which Mr. MacPherson will continue to serve as President and Chief Executive Officer of the Company.  The agreement has a term of three years which after such three-year term will automatically renew for successive one-year periods unless otherwise terminated by either party prior to the next applicable renewal period.  Mr. MacPherson is entitled to a base salary of $1,000,000 per year, which may be increased from time to time solely at the discretion of the Board of Directors (or committee thereof).  Mr. MacPherson shall be eligible to receive bonus compensation in such amounts and at such times as the Board (or committee thereof) at its sole discretion shall from time to time determine and which shall not exceed $1,000,000 annually.  He is entitled to participate in benefit plans that are made available to executive employees of the Company, and is entitled to certain other benefits.  He is also entitled to receive equity awards subject to the sole discretion of the Board (or committee thereof).  The agreement also provides for certain severance payments in the event the agreement is terminated by the Company without cause or terminated by Mr. MacPherson for good reason (as such terms are defined in the agreement).  

On June 7, 2024, the Company also entered into an amended and restated employment agreement with John Pavlish, effective as of June 1, 2024, pursuant to which Mr. Pavlish will continue to serve as