Cyngn (CYN) just unveiled an announcement.
Cyngn Inc. has entered into an agreement with its CFO, Donald Alvarez, which ensures he receives a severance package if his employment ends under certain conditions, such as being fired without cause, resignation for good reason, or a company takeover. The package includes six months’ salary, a prorated or six-month bonus based on performance targets, vesting of up to 50% of his unvested equity awards, and six months of COBRA healthcare payments, contingent upon him signing a release form.
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