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Gevo (GEVO) has shared an announcement.
Gevo, Inc. has updated its executive compensation agreements with CEO Patrick Gruber and other top officers, establishing terms for base salary, bonuses, and equity awards, as well as severance packages in case of termination without cause. These agreements provide for generous severance terms, including cash payments and health coverage, while introducing restrictive covenants to protect the company’s interests post-employment. The agreements also encourage a smooth transition for executives considering retirement, offering extended vesting of equity awards and potential board membership for the retiring CEO.
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