Aehr Test Systems ( (AEHR) ) has shared an announcement.
Aehr Test System has struck new severance agreements with top executives, including President and CEO Gayn Erickson, ensuring they receive substantial benefits if they are terminated without cause or resign for good reason, especially during a change in control period. These benefits include up to 24 months of salary, incentive payments, and healthcare, with varying terms for different executives. The agreements also cover scenarios of death or disability, providing continued benefits except for company-paid healthcare. These enhanced severance packages aim to offer stability for executives during potential shifts in company control.
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