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OFFON

DUTCH BROS INC.

(BROS)
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DUTCH BROS INC. : Change in Directors or Principal Officers (form 8-K)

12/01/2021 | 04:08pm EST
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 30, 2021, Dutch Bros Inc. through its subsidiary DB Management Co.,
which is a wholly-owned subsidiary of Dutch Mafia, LLC, of which Dutch Bros Inc.
is the sole managing member (collectively, the "Company"), entered into an
employment agreement with Jonathan Ricci, the Company's Chief Executive Officer
(the "Ricci Agreement"). The Agreement supersedes Mr. Ricci's prior Employment
Agreement with the Company. The Ricci Agreement provides for Mr. 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.
On November 24, 2021, the Company entered into an employment agreement with
Charles Jemley, the Company's Chief Financial Officer (the "Jemley Agreement"
and together with the Ricci Agreement, the "Agreements"). The Jemley Agreement
provides for Mr. 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.                Description
                              Offer Letter by and between Jonathan Ricci 

and the Company dated July 27,

      10.1        #           2021.
                              Offer Letter by and between Charles Jemley 

and the Company dated July 27,

      10.2        #           2021.


#     Indicates management contract or compensatory plan or arrangement.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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