United States Antimony Corporation (UAMY) has entered into a new employment agreement with its Chief Executive Officer, Gary C. Evans, as disclosed in a filing dated October 1, 2026. The agreement, effective as of August 1, 2026, establishes a three-year term for Mr. Evans' continued service.
Under the terms of the agreement, Mr. Evans is entitled to an annual base salary of $430,000, subject to annual review. He is also eligible for an annual bonus based on performance goals established by the Compensation Committee and is entitled to five weeks of paid vacation per year.
The agreement outlines specific severance terms. If a change in control of the Company occurs during the term and Mr. Evans is terminated without cause or resigns for good reason within twenty-four months of that event, he will receive two times the sum of his then-current base salary and target bonus. This payment will be made in substantially equal installments over twenty-four months.
If termination occurs without cause or resignation for good reason prior to a change in control or more than twenty-four months following a change in control, Mr. Evans will receive one-and-a-half times the sum of his salary and target bonus. This payment will be made in substantially equal installments over eighteen months. Additionally, the Company will pay any accrued obligations in a lump sum within thirty days of the termination date.
The agreement also includes restrictive covenants regarding non-competition, non-solicitation of customers and personnel, and non-interference, which apply during employment and for one to two years following termination.
