Kinetik (KNTK) has shared an update.
Kinetik Holdings Inc. has introduced a new Executive Severance Plan and a corresponding Employee Severance Plan, ensuring all employees receive severance benefits in the event of certain terminations. These benefits include lump sum payments based on salary, bonus, and service time, prorated bonuses, and accelerated equity vesting, with additional payments for health coverage and 401(k) contributions under specific conditions. Moreover, the severance packages are designed to avoid triggering excise tax, ensuring the most beneficial outcome for the participants.
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