Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. OnNovember 30, 2021 ,Dutch Bros Inc. through its subsidiaryDB Management Co. , which is a wholly-owned subsidiary ofDutch Mafia, LLC , of whichDutch Bros Inc. is the sole managing member (collectively, the "Company"), entered into an employment agreement withJonathan Ricci , the Company's Chief Executive Officer (the "Ricci Agreement"). The Agreement supersedesMr. Ricci's prior Employment Agreement with the Company. The Ricci Agreement provides forMr. Ricci's employment as Chief Executive Officer.Mr. Ricci will receive a base salary of$550,000 , and is eligible to receive a cash bonus of$500,000 for 2021.Mr. Ricci is also eligible to use the Company-owned plane for up to 25 hours of personal travel and to participate in the Company's standard benefits, subject to the terms and conditions of such plans and programs, including certain benefits under the terms of the Company's Amended and Restated Severance and Change in Control Plan. OnNovember 24, 2021 , the Company entered into an employment agreement withCharles Jemley , the Company's Chief Financial Officer (the "Jemley Agreement" and together with the Ricci Agreement, the "Agreements"). The Jemley Agreement provides forMr. Jemley's employment as Chief Financial Officer.Mr. Jemley will receive a base salary of$472,500 ,and is eligible to receive a cash bonus of$225,000 for 2021.Mr. Jemley is also eligible to participate in the Company's standard benefits, subject to the terms and conditions of such plans and programs, including certain benefits under the terms of the Company's Amended and Restated Severance and Change in Control Plan. The foregoing descriptions of the Agreements is not complete and is qualified in its entirety by reference to the Agreements, copies of which are attached as exhibits to this Current Report on Form 8-K. (d)Exhibits Exhibit No. DescriptionOffer Letter by and betweenJonathan Ricci
and the Company dated
10.1 # 2021. Offer Letter by and between Charles Jemley
and the Company dated
10.2 # 2021. # Indicates management contract or compensatory plan or arrangement.
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