Severance Terms Adjustment Agreement between Entravision Communications Corporation and Michael Christenson

Contract Categories: Human Resources › Severance Agreements
Summary

Entravision Communications Corporation and its CEO, Michael Christenson, agree to adjust the calculation of his severance benefits if his employment ends on or before December 31, 2026. The agreement specifies that his base salary and target bonus for severance purposes will be based on his compensation as of December 31, 2024, and that company performance will be deemed to match his target bonus. All other terms of the existing Severance Plan remain unchanged. The agreement is governed by California law.

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EX-10.1 2 evc-ex10_1.htm EX-10.1 EX-10.1

Exhibit 10.1

April 4, 2025

 

Michael Christenson
Chief Executive Officer

Entravision Communications Corporation (the “Company”)

1 Estrella Way

Burbank, CA 91504

 

Re: Adjustment to Severance Terms

 

Dear Michael,

 

This letter agreement (the “Agreement”) sets forth the terms of an adjustment to participation in the Entravision Communications Corporation Executive Severance and Change in Control Plan (the “Severance Plan”). All capitalized terms used but not defined in this Agreement have the definitions given to them in the Severance Plan.

 

1)
Severance Calculation Adjustment. If your Date of Termination occurs on or before December 31, 2026, then, solely for purposes of calculating severance payments under the Severance Plan:
a)
your Base Salary will be deemed to be your annual base salary as of December 31, 2024;
b)
your Target Bonus will be deemed to be your Base Salary (as adjusted in subsection (a) above), multiplied by the target amount percentage set forth in your Executive Compensation Letter; and
c)
“actual Company performance”, as such term is used in Section 4 of the Severance Plan, will be deemed to be your Target Bonus (as adjusted in subsection (b) above).
2)
No Further Modifications. Except as expressly set forth in this Agreement, all other terms and conditions of the Severance Plan remain unchanged and in full force and effect.
3)
Acknowledgment and Acceptance. By signing below, you acknowledge and agree to the terms of this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of California.

 

Please confirm your acceptance by signing below and returning a copy of this Agreement.

 

Sincerely,

Entravision Communications Corporation

 

/s/ Mark Boelke

Mark Boelke

Chief Financial Officer

 

Accepted and Agreed:

 

/s/ Michael Christenson

Michael Christenson
Date: April 4, 2025