The company said it entered into revised Executive Agreements with Michael C. Creedon, Jr., Jeffrey Davis and Lawrence Gatta, Jr. on November 15, 2024, November 13 and November 12, respectively.

1. 01

   The company said it entered into revised Executive Agreements with Michael C. Creedon, Jr., Jeffrey Davis and Lawrence Gatta, Jr. on November 15, 2024, November 13 and November 12, respectively.

2. 02

   The company said the revised agreements contain restrictive covenants and, in consideration for them, provide severance benefits payable upon termination without "cause" or on account of death or disability, and replace the existing agreements.

3. 03

   The company said the severance terms provide for 24 months of base salary, unchanged from before, paid in a lump sum, plus a prorated lump sum equal to 1 year of target bonus, and cut the COBRA continuation period from 24 months to 18 months.

4. 04

   The company said its Compensation Committee revised the form of agreement to align with market practices and create internal consistency, and made the revised agreement available for signing to other executive officers, including Richard McNeely.

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