Playa Hotels & Resorts ( (PLYA) ) has provided an update.
Playa Resorts Management, LLC has secured new employment agreements with its top executives, ensuring leadership stability with terms that include competitive salaries, performance-based bonuses, and equity incentives. Notably, these agreements incorporate robust severance packages, which include double the annual salary and bonus, as well as health insurance coverage for two years in the event of termination without cause or resignation for good reason. Additionally, they contain noncompete and nonsolicitation clauses, aligning with the company’s latest equity award agreements, thus reinforcing the company’s commitment to its strategic objectives and governance standards.
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