Company: VREOF
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001140361-25-018064
Chunk: 36

Company: Vireo Growth Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 36
---
, the term of Mr. Mazarakis’ employment with the Company will be for the period commencing on the first anniversary of December 17, 2024 (the “ Mazarakis Effective Date”) and ending on the two-year anniversary of the Mazarakis Effective Date (the “ Initial Term”). On the two-year anniversary of the Mazarakis Effective Date, and on each succeeding one year anniversary of the Mazarakis Effective Date (each an “ Anniversary Date”), the Term shall be automatically extended until the next Anniversary Date (each a “ Renewal Term”), subject to termination on an earlier date in accordance with the terms and conditions of the Mazarakis Employment Agreement. The Term shall cease as of the date of Mr. Mazarakis’ termination of employment. Mr. Mazarakis will be eligible to participate in any employee benefits generally available to other employees. The post-termination rights and benefits under the Mazarakis Employment Agreement are described below under the section entitled “ Termination and Change in Control Benefits.” Amber Shimpa : Amber Shimpa entered into an employment agreement with the Company effective December 1, 2020 (the “ Initial Shimpa Employment Agreemen t”). The Initial Shimpa Employment Agreement had a two-year term, and Ms. Shimpa received an annual base salary of $260,000, with a potential annual cash bonus at the Company’s discretion in an amount determined by the Company’s Chief Executive Officer. The post-termination rights and benefits under the Initial Shimpa Employment Agreement are described below under the section entitled “ Termination and Change in Control Benefits .” We entered into the first, second, third and fourth amendments to the Initial Shimpa Employment Agreement on February 2, 2022, December 14, 2022, February 12, 2023 and December 21, 2023, respectively (collectively, the “ Amended Shimpa Employment Agreement ”). The Amended Shimpa Employment Agreement, among other things, revised certain termination benefits, provided the terms of equity compensation grants, appointed her President of the Company and Chief Executive Officer of Vireo, and provided a grant of stock options to purchase 750,000 Subordinate Voting Shares and terms thereof, and a $25,000 cash bonus. In connection with Ms. Shimpa’s appoint as Chief Executive Officer, on October 9, 2024, Vireo Health, Inc. entered into a Restated Employment Agreement with Ms. Shimpa (the “ Restated Shimpa Employment Agreement ”