Company: XXII
Filing Date: 2025-06-10
Form Type: PRER14A
Source: 0001641172-25-014371
Chunk: 23

Company: 22nd Century Group, Inc.
Filing Date: 2025-06-10
Form: PRER14A
Chunk 23
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                | 425,000 |     |                                     | 0 | % |
| Daniel A. Otto (2)                           
 Chief Financial Officer                      |     | $                | 315,000 |     |                                     |  31 | % |     | $                | 315,000 |     |                                     | 0 | % |
| Jonathan Staffeldt (2)                       
 General Counsel                              |     | $                | 315,000 |     |                                     |  29 | % |     | $                | 315,000 |     |                                     | 0 | % |
| Robert Manfredonia (3)                       
 Executive Vice President Sales and Marketing |     | $                | 275,000 |     |                                     | N/A |   |     | $                | 275,000 |     |                                     | 0 | % |
| Scott Marion (4)                             
 Vice President Manufacturing Operations      |     | $                | 275,000 |     |                                     |  31 | % |     | $                | 275,000 |     |                                     | 0 | % |

| (1) | Mr.                                                                     
 Firestone was appointed as Chief Executive Officer on December 1, 2023. |

| (2) | Mr.                                                                                    
 Otto and Mr. Staffeldt were appointed to their respective positions during April 2024. |

| (3) | Mr.                                   
 Manfredonia was hired in August 2024. |

| (4) | Mr.                                            
 Marion was promoted to his position July 2024. |

Performance−Based Incentive Compensation

Historically, the Compensation Committee has considered and in some cases established incentive bonus plans for other executive officers that align pay with performance. Because the Company has not in the Committee’s judgment achieved sufficient levels of revenues or profits, the Committee did not approve performance-based incentive compensation awards for named executive officers in 2024.

During 2024, the Compensation Committee developed a new performance-based incentive compensation plan for our executive officers, initiating for fiscal 2025. The performance-based incentive compensation program will consist of (i) annual performance-based cash bonus opportunity and (ii) long-term equity incentive compensation consisting of equity awards.

Performance-Based Cash Bonus Opportunity

The Compensation Committee has developed a performance-based annual cash bonus plan. Cash bonus amounts awarded will be determined based on (i) a percentage of each executive position’s base pay, (ii) Company performance, (iii) individual performance. Weighting of Company