Silver Bow Mining Corp. Appoints President; Files Amended Employment Agreement

What Happened

• Silver Bow Mining Corp. filed an 8‑K on September 25, 2026, announcing that Mr. Stiles was appointed President effective July 27, 2026.
• The company, its subsidiary SBMM and Mr. Stiles entered into an Amended and Restated Executive Employment Agreement effective February 17, 2026, which replaces his prior February 17, 2026 agreement. Mr. Stiles will serve as the company’s senior operating executive, reporting to the CEO and leading day‑to‑day operations while retaining responsibility for regulatory and external affairs.

Key Details

• Annual base salary: $240,000; Board will review and increase base salary in Q4 2026 (no later than Dec 31, 2026).
• Annual bonus: eligible for up to 50% of base salary (payable in cash, shares, options, or combination) based on Board‑set performance criteria.
• Term and conversion: three‑year term commencing Feb 17, 2026; upon expiration or a Change of Control, employment converts to at‑will subject to remaining terms.
• Severance and vesting:
  • If terminated by the company without “Cause” or resigns for “Good Reason”: lump‑sum equal to 12 months’ base salary, prorated bonus, 12 months of paid health/dental/vision premiums, immediate vesting of unvested options, and expense reimbursement (subject to release).
  • If termination occurs within 3 months before to 12 months after a Change of Control: lump‑sum equal to 24 months’ base salary (subject to release). On a Change of Control, any unvested equity awards will immediately vest.
• Other: four weeks paid vacation, company vehicle use for duties, participation in standard benefit plans, confidentiality, indemnification, expense reimbursement and customary clawback provisions. The agreement is filed as Exhibit 10.1 to the 8‑K.

Why It Matters

• Leadership and operations: appointing Mr. Stiles as President makes him the senior operating executive, which can affect daily operations and execution of company initiatives—important for investors tracking management strength and continuity.
• Compensation and potential costs: the agreement sets fixed cash compensation and potential bonus/benefit obligations; severance provisions (12–24 months of salary and accelerated equity vesting on change‑of‑control events) represent potential cash and equity costs that could affect cash flows and shareholder dilution in certain scenarios.
• Retention and incentives: equity award continuation and bonus opportunity align Mr. Stiles’ incentives with company performance and provide retention through the three‑year term, while immediate vesting on a change of control could materially affect equity expense and ownership timing.