Black Rifle Coffee Company Chief Technology and Operations Officer Compensation Letter to Chris Clark

Summary

Black Rifle Coffee Company has offered Chris Clark an updated compensation package following his promotion to Chief Technology and Operations Officer, reporting to the President. The package includes a $400,000 annual salary, eligibility for a discretionary annual bonus targeted at 75% of base pay, and participation in the 2023 Long-Term Incentive Plan, which includes a $900,000 equity grant (75% stock options, 25% RSUs) vesting over three years. The agreement is subject to approval by the Compensation Committee.

EX-10.2 3 brcinc10qq1fy2025-ex102.htm EX-10.2 Document

Exhibit 10.2


August 08, 2023

Dear Chris Clark,

We are pleased to offer you an update relating to your compensation with respect to your recent promotion to Chief Technology and Operations Officer at Black Rifle Coffee Company as of approval of this letter by the Compensation Committee of our Board of Directors, expected on our about the date hereof. You will report directly to the President, Chris Mondzelewski.

Cash Compensation

Your new position is classified as an exempt (salary) position. Your new annual salary will be $400,000.

Annual Incentive Plan (AIP)

You are eligible to participate in the company’s discretionary bonus program based on company and individual performance. Your bonus target will be 75% of your base pay.

Long Term Incentive Plan (LTIP)

You will be eligible to participate in BRC's Long-Term Incentive Plan in 2023 and are expected to participate annually thereafter. The LTIP for 2023 (gross) will comprise the following: a 2023 annual LTI grant totaling $900,000 (75% in at-the-money stock options, and 25% in RSUs), each measured at grant-date fair value, on a three-year vesting schedule, vesting in equal thirds on the anniversary of the grant date. This grant is expected to be issued at a future date, and will be issued net of the prior grant you received in 2023 (on a grant-date fair value methodology).

Once again, congratulations on your new position!

Sincerely,

/s/ Chris Mondzelewski

Chris Mondzelewski
President
Black Rifle Coffee Company