Global Self Storage Inc

On March 25, 2024, the Company entered into a second amended and restated employment agreement (the Agreement") with its Chief Executive Officer and President, Mark C. Winmill.

The Agreement has an initial term of three years and is subject to automatic one-year extensions thereafter, unless either party provides at least 90 days’ notice of non-renewal.

The Agreement provides for:

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a monthly base salary of $37,250;

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eligibility for an annual cash performance bonus based on the satisfaction of performance goals established by our board of directors or its compensation committee; and

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participation in benefit plans applicable generally to executive officers.

The Agreement provides that, if Mr. Winmill’s employment is terminated by the Company without “cause” or by Mr. Winmill for “good reason” (each as defined in the Agreement), or as a result of the Company’s notice of non-renewal of the employment term, Mr. Winmill will be entitled to the following severance payments and benefits, subject to the execution and non-revocation of a general release of claims:

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accrued but unpaid base salary, bonus and other benefits earned and accrued but unpaid prior to the date of termination;

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an amount equal to three times the sum of Mr. Winmill’s annual base salary plus the greater of the average annual bonus received by Mr. Winmill with respect to the two years prior to the year of termination and Mr. Winmill’s “target” annual bonus; and

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continued health benefits (including for Mr. Winmill’s dependents) for twenty-four months following termination.

In the event Mr. Winmill’s employment terminates by reason of his death or disability he or his estate shall receive:

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accrued but unpaid base salary, bonus and other benefits earned and accrued but unpaid prior to the date of termination;

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a prorated annual bonus for the year in which the termination occurs; and

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continued health benefits (including for Mr. Winmill’s dependents) for twenty-four months following termination.

The Agreement contains standard confidentiality provisions, which apply indefinitely, and both non-competition and non-solicitation of employees and customers covenants, which apply during the term of employment and for a period of twelve months thereafter.