Summary by Moomoo AI
On January 25, 2024, Las Vegas Sands Corp. (LVSC) announced an amendment to the employment agreement with Randy A. Hyzak, the company's Executive Vice President and Chief Financial Officer. The amendment, effective as of January 1, 2024, extends Hyzak's employment term until December 31, 2029. Under the new terms, Hyzak will be eligible for an increased annual cash bonus of 150% of his base salary and a restricted stock unit award of 175% of his base salary starting in 2024. Additionally, the agreement includes provisions for severance payments and benefits in the event of termination without cause or for good reason, contingent upon Hyzak's execution of a release of claims. The amendment also introduces a perpetual non-disparagement covenant. Existing noncompetition, non-solicitation, confidentiality, and intellectual property covenants from Hyzak's original employment agreement remain in effect. Details of the amendment will be included in the company's Annual Report on Form 10-K for the year ended December 31, 2023.