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In focus for CNXC holders: Concentrix Corporation's board adopted an Amended and Restated Executive Severance Plan on July 23, replacing the company's existing Change of Control Severance Plan.
The revision raises the payout floor for executives terminated during a deal window and, for the first time, creates a separate benefit for executives let go outside that window altogether.
Both changes are effective as filed with the Securities and Exchange Commission.
What changed inside the change-of-control window The prior formula paid terminated executives salary continuation based on their three years of past compensation, spread across 18 to 24 months depending on tenure.
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