Barry Devlin, Vice-President, Exploration
Pursuant to an employment agreement dated effective December 28, 2017, the Company will pay Mr. Devlin an annual base salary of $346,500. The agreement has no fixed expiry date and contains provisions regarding salary, eligibility for annual equity-based awards and performance-based cash bonuses, benefits, and change of control of the Company. He would also be entitled to receive certain payments upon separation either before or after a change of control, as summarized in the table below.
As previously reported on Form 8-K filed with the SEC on February 3, 2021, Mr. Devlin notified the Company of his resignation effective February 28, 2021.
Greg Patterson, Vice-President, Investor Relations
Pursuant to an employment agreement dated effective December 28, 2017, the Company will pay Mr. Patterson an annual base salary of $220,000. The agreement has no fixed expiry date and contains provisions regarding salary, eligibility for annual equity-based awards and performance-based cash bonuses, benefits, and change of control of the Company.
As previously reported on Form 8-K filed with the SEC on January 27, 2021, Mr. Patterson was provided notice of termination without cause from the Company effective February 26, 2021 and received a severance payment of $220,000 representing 12 months’ annual base salary.
Jason Reid, Chief Executive Officer (through December 31, 2020)
Pursuant to an employment agreement dated effective December 28, 2017, the Company paid Mr. Reid an annual base salary of $630,000. The agreement had no fixed expiry date and contained provisions regarding salary, eligibility for annual equity-based awards and performance-based cash bonuses, benefits, and change of control of the Company. As previously reported on Form 8-K filed with the SEC on December 31, 2020, Mr. Reid resigned from the Company effective December 31, 2020 and received $500,000 and accelerated vesting of outstanding equity awards.
John Labate, Prior Chief Financial Officer (through August 14, 2020)
Pursuant to an employment agreement dated effective December 28, 2017, the Company paid Mr. Labate an annual base salary of $346,500. The agreement had no fixed expiry date and contained provisions regarding salary, eligibility for annual equity-based awards and performance-based cash bonuses, benefits, and change of control of the Company. As previously reported on Form 8-K filed with the SEC on August 6, 2020, Mr. Labate notified the Company of his retirement effective August 14, 2020 and received a $200,000 separation payment.