The TKO Group has announced a significant addition to its leadership team, confirming the appointment of Seth Krauss as the new Chief Legal and Administrative Officer, as reported in the company’s official statement.
A Term Employment Agreement, effective from January 1, 2024, to December 31, 2027, solidifies Mr. Krauss’s role within TKO Group. The Agreement, signed on January 12, 2024, outlines his responsibilities as Chief Legal and Administrative Officer, reporting to TKO’s President or Chief Operating Officer, presently Mark Shapiro, or any potential successor to these positions. Notably, the Agreement allows Mr. Krauss to continue his services at Endeavor Group Holdings, Inc., Endeavor Operating Company, LLC, and their subsidiaries, with possible modifications.
The Agreement specifies an annual base salary of $2,000,000 for the agreed-upon term, pro-rated for any partial calendar year. This base salary is subject to periodic increases approved by TKO’s Board of Directors or their designated representative, known as the “Governing Body.”
Additionally, Mr. Krauss is eligible for a discretionary annual bonus for the fiscal year 2023. Subsequently, throughout the Agreement’s term, he qualifies for an annual bonus with a targeted amount of $2,000,000, contingent on the achievement of performance metrics based on TKO’s performance, as assessed by the Governing Body in good faith.
