Camping World Amends Employment Agreement for CEO Marcus Lemonis

Camping World Holdings, Inc. announced in an 8-K filing on January 26, 2025, that its Board of Directors has approved an amended and restated employment agreement with Marcus Lemonis, the Chief Executive Officer and Chairman of the Company. The agreement, known as the Lemonis Employment Agreement, is effective from January 1, 2025, to January 1, 2028, with potential automatic one-year extensions.

Under the terms of the agreement, Marcus Lemonis is set to receive an annual base salary of $1,500,000 and an annual incentive bonus with a target opportunity of 150% of his base salary. Additionally, Camping World granted Mr. Lemonis 600,000 restricted stock units and 750,000 performance stock units under the Camping World Holdings, Inc. 2016 Incentive Award Plan. These awards are subject to specific vesting conditions and performance criteria over a three-year period.

In the event of employment termination without cause, the non-renewal of the term, or a transition to the role of Executive Chairman, Mr. Lemonis is entitled to various benefits, including the payment of bonuses, accelerated equity awards, COBRA benefits, and a one-year payout of his annual base salary and target annual bonus.

As part of the amended agreement, Marcus Lemonis is also subject to non-competition, non-solicitation of employees and consultants, confidentiality, and non-disparagement obligations throughout the employment term and for a period of 12 months following termination.

It should be noted that the information provided is not exhaustive, and for a comprehensive understanding of the Lemonis Employment Agreement, reference should be made to the full agreement, which will be filed as an exhibit to Camping World Holdings, Inc.’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024.

According to the filing, Camping World Holdings, Inc.’s Chief Administrative and Legal Officer, Lindsey J. Christen, signed the report on January 27, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Camping World’s 8K filing here.

About Camping World

Camping World Holdings, Inc, together its subsidiaries, retails recreational vehicles (RVs), and related products and services in the United States. It operates in two segments, Good Sam Services and Plans; and RV and Outdoor Retail. The company provides a portfolio of services, protection plans, products, and resources in the RV industry.