Twilio ( (TWLO) ) has provided an update.
Twilio Inc. has updated its severance plans for top executives, enhancing benefits in the event of termination related to a change in control. Now, if an executive is let go either without a cause or for ‘Good Reason’ around the time of such a change, they are entitled to a substantial severance package. This package includes up to two years’ base salary, a bonus of up to 200% of their annual target, and continued health insurance contributions. Additionally, all unvested equity awards will be fully vested, assuming performance conditions are met at target levels.
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