Company: JUSHF
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001628280-25-019342
Chunk: 50

Company: Jushi Holdings Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 50
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 to the Company cancelling his 2,385,000 options that were grant issued April 17, 2019, (iii) waived his 2024 long term incentive entitlement to 3,000,000 options due to be grant issued on or before January 1, 2025 with 50% vesting January 1, 2025 and 50% vesting January 1, 2026. The third amendment provided that Mr. Cacioppo would instead receive 5,385,000 in options. On September 13, 2024, the Company and Mr. Cacioppo, entered into a fourth amendment to the Cacioppo Employment Agreement pursuant to which Mr. Cacioppo agreed to receive the $950,000 annual cash bonus that would otherwise have been paid to him on March 15, 2025 in the following alternative form: (i) a lump sum cash payment in the amount of $238,051; (ii) $1,381,000 principal amount of 12% Second Lien Notes; and (iii) stock options to purchase up to 1,062,732 of the Company's subordinate voting shares at an exercise price of $0.65 per share.

Mr. Cacioppo is also eligible to participate in the employee benefit plans available to our employees, subject to the terms of such plans, including our 2019 Equity Incentive Plan. Except as amended pursuant to an amendment to the Cacioppo Employment Agreement, beginning on or before July 30, 2022, and each January 1 thereafter through January 1, 2026, Mr. Cacioppo will be eligible to receive an annual equity compensation award (an LTI Award) in the form of a stock option to purchase 3,000,000 shares. The Cacioppo Employment Agreement provides that the first two LTI Awards will be vested as to one-third of the option shares on the grant date, and the remaining option shares will vest in two equal installments on January 1 of each year following the option grant date, subject to Mr. Cacioppo’s continued service through the applicable vesting date. The second two LTI Awards will be vested as to 50% of the option shares on the grant date, and the remaining option shares will vest on the first anniversary of the option grant date, subject to Mr. Cacioppo’s continued service through such date. The fifth LTI Award will