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DocuSign | 8-K: DocuSign, Inc. Second Amended and Restated Executive Severance and Change in Control Agreement

SEC announcement ·  Mar 15 16:18
Summary by Moomoo AI
DocuSign, Inc. has filed a Form 8-K with the Securities and Exchange Commission on March 13, 2024, announcing the approval of enhanced severance benefits for its executive officers. The Compensation and Leadership Development Committee of the company's Board of Directors approved the Amended and Restated Executive Severance and Change in Control Agreement, which includes enhanced benefits for certain executive officers, including Stephen Shute, President of Worldwide Field Operations. The agreement, initially filed on January 16, 2024, has been amended to provide eligibility for enhanced benefits upon termination without 'Cause' or resignation for 'Good Reason' at any time, extending the previous condition that only covered terminations without 'Cause' through December 31, 2024. The enhanced benefits include 12 months of COBRA coverage and 12 months of vesting acceleration for time-based equity awards, an increase from the previous six months. The rest of the terms in Mr. Shute's agreement remain unchanged. The full text of the second amendment and restatement of the agreement, known as the Shute Second Restatement, was filed as Exhibit 10.1.
DocuSign, Inc. has filed a Form 8-K with the Securities and Exchange Commission on March 13, 2024, announcing the approval of enhanced severance benefits for its executive officers. The Compensation and Leadership Development Committee of the company's Board of Directors approved the Amended and Restated Executive Severance and Change in Control Agreement, which includes enhanced benefits for certain executive officers, including Stephen Shute, President of Worldwide Field Operations. The agreement, initially filed on January 16, 2024, has been amended to provide eligibility for enhanced benefits upon termination without 'Cause' or resignation for 'Good Reason' at any time, extending the previous condition that only covered terminations without 'Cause' through December 31, 2024. The enhanced benefits include 12 months of COBRA coverage and 12 months of vesting acceleration for time-based equity awards, an increase from the previous six months. The rest of the terms in Mr. Shute's agreement remain unchanged. The full text of the second amendment and restatement of the agreement, known as the Shute Second Restatement, was filed as Exhibit 10.1.
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