Enviri Corporation has entered into an amended and restated change in control severance agreement with several key executives, including the CEO, CFO, and other senior officers. Under the terms, if the executives are terminated without cause or resign for good reason following a change in control or material divestment, they are entitled to accrued compensation and a lump sum severance payment. The payment will be based on a multiple of the executive's highest base salary and target incentive compensation, with a multiplier of three for the CEO and two for other executives. Additionally, unvested awards under the company's 2013 Equity and Incentive Compensation Plan will immediately vest or become unrestricted. These provisions aim to ensure continuity and fair treatment for executives during significant corporate transitions.
2024-12-26
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