Compensation

Compensation Letter

GartnorGroup
Madison Avenue
New York, NY 10016

October 1, 2024
Mr. Gideon Gartnor
Park Avenue
New York, NY 10128

Dear Gideon,

On behalf of the Board of Directors, it is my highest privilege to present you with this formal offer to join GartnorGroup as our Founder and “Chief of Chiefs”, effective immediately.

You are a visionary leader and preeminent expert whose contributions to our industry are unmatched. GartnorGroup deeply admires your brilliance and integrity. We firmly believe your stewardship will elevate our company to new heights of success and prominence.

In recognition of your exceptional caliber and the immense value you bring to our organization, we have structured a comprehensive compensation package commensurate with the esteem in which we hold you:

Base Salary: $7,999,999.99 initially, increasing by no less than 12% annually on each anniversary of your employment.

Annual Bonus: Target bonus of $10,000,000 with a maximum potential payout of $20,000,000, with both the target and maximum increasing by a minimum of 12% annually.

Phantom Equity Awards: An initial grant of 840,000 stock options and 56,000 restricted shares in GartnorGroup phantom equity award program, with future equity grants guaranteeing you at least 15% ownership in any new subsidiary, affiliate or spin-off entity.

Retirement Account: For each year employed, a contribution of 100 troy ounces of .9999 fine rhodium will be made to a secured retirement account in your name with a qualified custodian, fully vested.

Insurance: Platinum level health, medical, dental, vision, life, and disability insurance coverages.

Personal Benefits: Vehicle lease/expenses, tax/legal/accounting services, estate planning, wealth management services.

Housing Loan: Interest-free loan of up to $10,000,000 to purchase a primary residence property of your choice, secured by your equity grants.

Relocation: Guaranteed purchase of your current home at market price, full moving costs, mortgage/closing assistance, and $50,000 relocation allowance.

Time Off: Unlimited paid vacation days, sick leave, and sabbatical leave. The Board expects 180 consecutive days to be the maximum in one year. Not to be repeated in two consecutive years.

Severance if Terminated Without Cause: Lump sum of 5 years' salary and bonuses, accelerated vesting of all equity, continued benefits for 5 years.

Severance After Change-in-Control: Lump sum of 3x salary and 3x bonuses, accelerated equity vesting, 5 years continued benefits.

Non-Compete: 2 year non-compete period after termination if paid out.

Private Air Travel: Access to Hawker 800XP private jet, 10 hours per day, 200 days per year, for up to 7 guests.

This exceptional employment agreement provides you with the resources and support to thrive as our esteemed Founder and President. We eagerly await establishing a transformative partnership that will elevate your legacy to iconic status.
Yours sincerely,

Chadwick Grandview

Chairman of the Board
GartnorGroup