Riot Platforms (RIOT) Announces Termination of Chief Commercial Officer
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Effective as of February 1, 2023, Mr. Chad Everett Harris is no longer employed by Riot Platforms (NASDAQ: RIOT). Mr. Harris’s duties as Chief Commercial Officer of the Company, as well as his positions with the Company’s subsidiaries, have been transitioned. His departure from Riot is determined to be a termination without “Cause,” as defined under the terms of Mr. Harris’s employment agreement, which are reflected in the Company’s standard executive employment agreement, a copy of which was filed as Exhibit 10.3 to the Company’s current report on Form 8-K filed October 3, 2022.
In connection with Mr. Harris’s departure, it is anticipated that the Company and Mr. Harris will enter into a separation agreement and general release, the material terms of which have not been finalized as of the date of this Current Report on Form 8-K. Upon the effectiveness of such agreement, Mr. Harris will be eligible to receive separation benefits corresponding to a termination without “Cause” under the Company’s standard executive employment agreement, subject to his compliance with the terms of such separation agreement and general release.
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