Noodles & Company has approved new retention bonus agreements for its executive officers, according to a recent filing. The bonuses will be paid only if a Change in Control of the company occurs, excluding any refinancing or capital raising transactions that do not result in a Change in Control. Executives will qualify for the retention bonus if they remain with the company for 90 days after the transaction closes or if they are terminated without cause within 30 days before or 90 days after the closing. The right to receive the bonus expires if a Change in Control does not take place by December 31, 2026.
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