Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

2024 Employment Agreement with Diane R. Garrett, Ph.D.

As previously disclosed, Hycroft Mining Holding Corporation (the "Company") entered into an employment agreement, dated as of August 31, 2020, with Diane R. Garrett, Ph.D. (the "2020 Garrett Employment Agreement"). Ms. Garrett is the Company's President, Chief Executive Officer, and a member of the Company's Board of Directors (the "Board"). The 2020 Garrett Employment Agreement provided for an initial three-year term, after which Ms. Garrett became an at-will employee.

On April 10, 2024, the Company entered into a new employment agreement with Ms. Garrett (the "2024 Garrett Employment Agreement"). Under the terms of the 2024 Garrett Employment Agreement, Ms. Garrett is entitled to an annual base salary of $600,000 and an annual cash incentive bonus set at 70% of her annual base salary as target. Ms. Garrett will also be eligible to participate in equity-based compensation plans.

2024 Employment Agreement with Stanton K. Rideout

Also as previously disclosed, the Company entered into an employment agreement, dated as of October 20, 2020, with Stanton K. Rideout (the "2020 Rideout Employment Agreement"). Mr. Rideout is the Company's Executive Vice President and Chief Financial Officer. The 2020 Rideout Employment Agreement provided for an initial three-year term, after which Mr. Rideout became an at-will employee.

On April 10, 2024, the Company entered into a new employment agreement with Mr. Rideout (the "2024 Rideout Employment Agreement" and together with the 2024 Garrett Employment Agreement, the "2024 Employment Agreements"). Under the terms of the 2024 Rideout Employment Agreement, Mr. Rideout is entitled to an annual base salary of $425,000, an annual cash incentive bonus target initially set at 60% of his annual base salary. Mr. Rideout will also be eligible to participate in equity-based compensation plans.

Termination Payment Terms

The 2024 Employment Agreements contain provisions entitling Ms. Garrett and Mr. Rideout to payments upon termination of their employment in certain circumstances, as described below.

Termination of Employment for any Reason

Pursuant to the 2024 Employment Agreements, in the event the executive's employment with the Company terminates for any reason, they (or their estate, as applicable) will be entitled to receive any earned but unpaid base salary, any earned but unpaid annual cash incentive bonus, any amounts that may be payable under any applicable executive benefit plan, expense reimbursements and COBRA benefits provided that a timely election for COBRA continuation coverage is made and the applicable amounts are paid.

Termination of Employment other than for Cause or Voluntary Termination by Executive for Good Reason

If the Company terminates Ms. Garrett or Mr. Rideout without Cause (as hereinafter defined), or either of them terminates their employment for Good Reason (as hereinafter defined), they will be entitled to (i) a cash amount equal to 1.5 multiplied by their annual base salary, payable in equal instalmentsover the 18 months following the date of termination; and (ii) 18 months of continued coverage under the Company's medical, dental, life and disability plans, at the same cost to the individual as in effect on the date of termination.

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Hycroft Mining Holding Corporation published this content on 12 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2024 10:03:06 UTC.