NewtekOne, Inc. renewed employment agreements for four key executives, including its CEO, CFO, and Chief Legal Officer, with three agreements now including a one-year base compensation non-renewal payment.
Key takeaways
The company renewed employment agreements for CEO Barry Sloane, CFO Frank DeMaria, and Chief Legal Officer Michael A. Schwartz for one-year terms.
The company's subsidiary Newtek Bank, N.A. renewed the employment agreement for its President, Peter Downs, for a one-year term.
The renewed agreements for DeMaria, Schwartz, and Downs each now include a Non-renewal Payment equal to one year of base compensation.
The terms of Barry Sloane's renewed employment agreement remain unchanged from the previous version.
The full terms of the renewed agreements will be filed as exhibits to the company's next Quarterly Report on Form 10-Q.