Danimer Scientific Launches New Executive Severance Plan
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Danimer Scientific Launches New Executive Severance Plan

An update from Danimer Scientific (DNMR) is now available.

Danimer Scientific, Inc. has introduced a new Executive Severance and Retention Plan aimed at providing severance compensation and benefits to key executives in the event of certain employment terminations. This plan is particularly notable for replacing individual employment agreements for those whose contracts ended at the close of 2023, ensuring a uniform benefits structure across the board. Notably, the plan offers 12 months of salary continuation and COBRA premium contributions post-termination, or 24 months in cases related to a company change in control. Eligibility hinges on signing a Participation Agreement and a release of claims, with benefits subject to the company’s clawback policy and tax regulations to avoid excessive golden parachute payments.

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