Nuvve Holding Corp. has announced a new employment agreement with Ted Smith, effective March 18, 2025, appointing him as the chief executive officer of its subsidiary, Nuvve New Mexico, LLC. The agreement, which extends through March 18, 2028, includes the reimbursement of Mr. Smith's automobile lease, capped at $1,500 per month, and his mobile phone expenses. If terminated without cause, Smith will receive his base salary for 12 months and continued health benefits. In the event of a termination or resignation for good reason following a change in control, he will receive a severance of three times his base salary. The agreement also grants Smith a one-time equity award of 2.5% of both Class A and Class B Units of NNM LLC.
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