Company: VREOF
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001140361-25-018064
Chunk: 40

Company: Vireo Growth Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 40
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 or upon the consummation of a transaction constituting a Change in Control. Under the Macdonald Employment Agreement, Mr. Macdonald is also entitled to certain bonus payments, subject to certain conditions, in the vent of (i) the refinancing of any outstanding debt of the Company not less than $80,000,000 at an effective interest rate of not more than 9.75%, (ii) the acquisition or merger with any entity where the total enterprise value of such other entity is $100,000,000 or greater, (iii) a Change of Control transaction, and (iv) the consummation of a transaction raising additional capital at a price per share greater than $1.50. Unless terminated at an earlier date in accordance with the Macdonald Employment Agreement, the term of Mr. Macdonald’s employment with the Company will be for the period commencing on the Macdonald Effective Date and ending on the two-year anniversary of the Macdonald Effective Date (the “ Initial Term”). On the two-year anniversary of the Macdonald Effective Date, and on each succeeding one-year anniversary of the Macdonald 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 Macdonald Employment Agreement. The term shall cease as of the date of Mr. Macdonald’s termination of employment. Mr. Macdonald 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.” Joseph Duxbury : Joseph Duxbury is an at-will employee. He receives a base salary of $165,808 and is entitled to participate in the 2019 Plan. Dr. Kyle Kingsley : On December 28, 2020, Dr. Kingsley entered into an employment agreement with Vireo, whereby Vireo agreed to continue to employ Dr. Kingsley as Vireo’s Chief Executive Officer. The initial term of the agreement was for two years, but automatically extended for a one-year term on each succeeding one-year anniversary of the effective date of the agreement, subject to termination on an earlier date in accordance with the terms of the employment agreement, or unless either party gives written notice of non-renewal to the other party at least 180