Crexendo Inc (CXDO) has released an update.
Crexendo, Inc. has finalized at-will employment agreements with its top executives, ensuring they receive their existing salaries, regular bonuses, equity awards, and standard benefits. If terminated without “Cause,” executives are entitled to severance, including a month’s salary for each year of service and COBRA payments for a year. Additionally, equity awards will vest upon company sale, with further severance if the executive isn’t retained post-acquisition. These terms aim to retain and motivate the company’s leadership team.
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