The latest announcement is out from Silicon Laboratories (SLAB).
Silicon Laboratories Inc. has updated its severance agreements for key executives, including CEO Matt Johnson, ensuring financial stability upon potential future terminations. These new contracts, effective until 2027, maintain similar benefits to their predecessors, offering substantial severance packages. Executives can expect to receive up to double their annual salary, full target bonuses, accelerated stock vesting, and extended health coverage in case of termination following a company change in control, or a portion thereof in other termination scenarios.
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