LFG Archaea Energy Inc

Chief Financial Officer Departure; Executive Chairman Appointment

On February 10, 2022, Archaea Energy Inc. (the “Company”) announced that Eric Javidi is departing from his position as Chief Financial Officer of the Company, effective as of March 1, 2022 (the “Separation Date”). Mr. Javidi’s departure was not a result of any disagreements with the Company, the Company’s management or the Board of Directors (the “Board”) of the Company on any matter relating to the Company’s operations, policies, or practices.

The Board is conducting a search to identify a Chief Financial Officer candidate to serve as Mr. Javidi’s successor. In the interim, Daniel Rice, Chairman of the Board, has been named Executive Chair of the Board to provide oversight for the Company’s core financial functions. Mr. Rice will not receive any additional compensation for serving as Executive Chair. There are no arrangements or understandings between Mr. Rice and any other persons pursuant to which he was appointed as Executive Chair.

Chief Financial Officer Separation, Consulting and Release Agreement

In connection with Mr. Javidi’s departure, the Company and Mr. Javidi entered into a separation, consulting and release agreement (the “Separation Agreement”). Pursuant to the terms of the Separation Agreement, Mr. Javidi will receive (i) a cash payment of $2,950,000, less applicable taxes and withholding, payable in a single lump sum; (ii) accelerated vesting of all outstanding unvested restricted stock unit awards under the Company’s 2021 omnibus incentive plan; and (iii) reimbursement of the cost of continued health coverage under the Company’s existing health plan under COBRA for a period of up to 12 months.

As consideration for the obligations of the Company under the Separation Agreement, Mr. Javidi agreed to a comprehensive release of claims in favor of the Company and its affiliates. Mr. Javidi also agreed to be bound by restrictive covenants concerning confidential information, non-disparagement and non-solicitation of customers, suppliers and employees.

Pursuant to the Separation Agreement, following the Separation Date, Mr. Javidi will provide certain consulting services as an independent contractor of the Company for up to 12 months following the Separation Date. Mr. Javidi will not receive any additional compensation for these consulting services.

The foregoing description of the Separation Agreement is a summary, does not purport to be complete and is qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.