Nov. 14 at 2:44 PM
$VOXX CEO and CFO employment agreement updated.
Looks like laying the exec compensation groundwork for buyout to me.
Contracted extended til Feb 28, 2026
Upon his termination of employment, Mr. Lavelle shall be entitled to receive an additional
$1,000,000 payable in 12 equal consecutive monthly installments unless he elects to have such payments spread over 24 months.
Additionally, upon the closing of a Change in Control Event, Ms. Shelton will be entitled to resign with 180 days’ prior written notice as Good Reason under her employment agreement. Upon her termination of employment, Ms. Shelton shall be entitled to receive an additional
$550,000 payable in 12 equal consecutive monthly installments unless she elects to have such payments spread over 24 months.
https://www.sec.gov/ix?doc=/Archives/edgar/data/807707/000095017024126410/voxx-20241111.htm
