Bandwidth Inc (BAND) just unveiled an announcement.
The Company has updated its employment agreement with CEO David Morken, enhancing severance terms. Should Morken be terminated without cause or resign with good reason, he’s entitled to 18 months of life insurance premiums. In case of a company control change, he could receive 300% of his previous year’s salary and bonus, a 36-month healthcare stipend, and life insurance premiums for the same period. Additionally, certain IPO and liquidity event bonuses have been removed from the agreement.
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