<a href="https://laohu8.com/S/SLDP">Solid Power</a> Unveils New Executive Severance and Change-in-Control Compensation Plans
Solid Power Inc. has announced updates to its executive compensation arrangements, establishing two new plans: the Severance Benefit Plan and the Change in Control Severance Plan for Executives. Under the new terms, the CEO is eligible for 12 months of base salary as severance in the event of involuntary termination without cause or for good reason, while other executive officers receive nine months of base salary. If termination occurs within a specified period surrounding a change in control, the CEO is entitled to 24 months of base salary, a lump sum payment equal to 1.5 times the previous year's annual bonus, and up to 24 months of COBRA health coverage reimbursement. Other executives in this scenario will receive 12 months of base salary, a lump sum equal to the prior year's annual bonus, and up to 12 months of COBRA coverage reimbursement. The new plans replace Solid Power's previous executive severance plan in its entirety.
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