Summary

  • AIB’s offer letter sets a $250,000 annual base salary for new COO Jason Burnett, rising to $300,000 when CLT1 financing closes and $350,000 when financing closes for the next site.
  • A separate site bonus ranges from $100,000 to $200,000 according to contracted IT load. It pays 25% at financing and construction start, 25% after power-on and commissioning, and 50% at customer handoff.
  • The CEO confirms milestones in writing; the board or compensation committee has final authority over administration and interpretation.

AIB has given its new operations chief a compensation calendar that starts before a data hall serves a customer. The offer letter, dated 23 October and effective from 26 October, sets a $250,000 base salary. It rises to $300,000 when financing closes for CLT1, then to $350,000 when financing closes for the company’s next site. The company retains sole discretion to adjust the salary.

The separate site-delivery bonus is keyed to contracted IT load in a signed lease: $100,000 for a site up to 30 MW, $150,000 above 30 MW through 60 MW, and $200,000 above 60 MW. Several halls for one customer count as one site. The agreement covers the first ten sites handed to customers; any later plan requires the company to renew it.

The bonus arrives in three payments. Financing must close and construction must start for the first 25%. The second 25% follows utility power-on and completed commissioning. The final 50% waits for customer handoff of the last hall at a multi-hall site. A stage is paid in cash within 30 days after the CEO confirms in writing that its milestone has been achieved.

The last payment has its own clock. AIB may increase that 50% stage by half if the site reaches the lease delivery date without using budget contingency. It cuts that stage in half if handoff falls later than the customer’s contractual grace period; the agreement supplies a 60-day grace period where the lease has none. The agreement also bars bonuses for milestones reached before 26 October.

That split is the signal in the filing. Financing starts the salary ratchet and unlocks the first quarter of a site bonus, but a customer taking the finished space unlocks the other half. The documents publish the formula, not a record of any bonus paid or of either financing trigger being reached.

Primary records: SEC Form 8-K; Offer Letter, Exhibit 10.2; Site Delivery Bonus Agreement, Exhibit 10.3; AIB’s 28 October announcement, Exhibit 99.1.