TKO has named a new Chief Legal and Administrative Officer.
On Friday, TKO Group Holdings, Inc. issued a press release to officially announce the news.
Check out the announcement below.
On January 12, 2024, TKO Group Holdings, Inc. (“TKO” or the “Company”) entered into a Term Employment Agreement (the “Agreement”) with Seth Krauss, the Company’s Chief Legal and Administrative Officer.
The term of the Agreement is effective from January 1, 2024 and expires on December 31, 2027. The Agreement provides that Mr. Krauss shall serve as TKO’s Chief Legal and Administrative Officer and will report to TKO’s President or Chief Operating Officer (currently Mark Shapiro) or any successor position thereto. The Agreement provides that Mr. Krauss may continue to provide services in his role and position at Endeavor Group Holdings, Inc., Endeavor Operating Company, LLC and their respective subsidiaries, including as such roles and positions may be modified.
The Agreement provides for an annual base salary of $2,000,000 for the term, which will be pro-rated for any partial calendar year and subject to increase from time to time as approved by TKO’s Board of Directors (the “Board”) or an applicable delegate thereof (the Board or such delegate(s), as applicable, the “Governing Body”).
Mr. Krauss will be eligible for a discretionary annual bonus in respect of fiscal year 2023. Thereafter, during the term of the Agreement, Mr. Krauss will be eligible to receive an annual bonus with a target bonus amount equal to $2,000,000. The amount of the annual bonus will be based on the achievement of performance metrics based on TKO performance, as determined by the Governing Body in good faith.
