Core Scientific Inc (CORZ) has issued an announcement.
Core Scientific, Inc. has solidified its executive team by entering a lucrative employment agreement with Todd M. DuChene, who will continue as the Chief Legal and Administrative Officer with a $500,000 base salary and equal guaranteed annual incentive for 2024. DuChene’s compensation includes participation in stock incentive plans, executive benefits, and a severance package ensuring 12 months’ salary and accelerated equity vesting if terminated without cause, with special provisions during a change of control. He also received a substantial equity grant upon the agreement’s effectiveness, with vesting tied to service and performance conditions.
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