Freshpet adopts Key Executive Severance Plan; CEO William Cyr enters letter agreement

Freshpet, Inc.

Plan effective Aug 27, 2024, replacing individual employment agreements; covers named executive officers and senior employees.
CEO Cyr to receive 2x annual comp for qualifying termination (no cause/good reason) and 3x for change-in-control termination.
Other Level 2 executives get 1.5x (qualifying) or 2x (change-in-control) annual comp, plus COBRA and outplacement benefits.
Cyr's letter agreement includes 24-month noncompete/nonsolicit; other executives 12 or 24 months.
Plan designed to standardize severance and protect intellectual property; amendments restricted near change-in-control.

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