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BitMine Immersion Technologies, Inc. (NYSE American:BMNR) entered into executive employment agreements with Jonathan Bates, Raymond Mow, and Erik Nelson, according to a press release statement based on a recent SEC filing.
Under the agreements, Jonathan Bates will continue as Chief Executive Officer, Raymond Mow as Chief Financial Officer, and Erik Nelson as President. The employment terms began September 1, 2025, and are for an indefinite period, subject to termination conditions specified in the agreements.
Bates’s total annual compensation is set at $3,037,000, including a base salary of $750,000, a minimum annual cash bonus of $375,000 payable quarterly, performance-based compensation of $787,500 subject to board-determined metrics, and an annual equity award of $1,125,000 in restricted stock units (RSUs) vesting quarterly.
Mow’s annual compensation totals $1,023,750, which includes a $350,000 base salary, a $105,000 annual cash bonus paid quarterly, $113,750 in performance-based compensation, and an annual RSU equity award valued at $455,000, also vesting quarterly.
Nelson’s agreement provides total annual compensation of $406,250, comprising a $240,000 base salary, a $52,500 annual cash bonus paid quarterly, and an RSU equity award valued at $113,750 vesting in quarterly installments.
All three executives are eligible for company benefits and perquisites offered to senior executives, including health and group insurance, pension plans, and reimbursement for business expenses. Each executive will also receive up to $10,000 for attorney fees related to negotiating the agreements.
If employment is terminated by the company for cause or voluntarily by the executive without good reason, the executive will receive a lump sum equal to one year of total cash compensation, excluding equity awards. If terminated without cause, for good reason, due to a change in control, or upon death or disability, the executive will receive a lump sum equal to two years of total cash compensation, excluding equity awards, along with accrued benefits.
This information is based on a press release statement and details from the company’s recent SEC filing.
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