Adaptimmune Therapeutics (ADAP) has issued an update.
Adaptimmune Therapeutics plc updated their executive severance policy, enhancing the benefits for terminated executives. Now, if an executive is let go without cause or leaves for a valid reason, they’ll get a year’s salary and healthcare premiums for the same duration, with the possibility of a prorated annual bonus. In cases of company control changes within 12 months, similar severance terms apply, along with accelerated equity awards vesting. The CEO gets even better terms, with 18 months of salary and health benefits, and a bonus based on target goals. These benefits are contingent on a claims release and adherence to post-employment agreements.
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