other material
confidence high
sentiment neutral
materiality 0.30
Eversource approves new severance programs for senior executives with CIC and involuntary termination benefits
EVERSOURCE ENERGY
- New CIC severance: CEO gets 2.99x base+target; Senior Team gets 2.00x; equity acceleration and healthcare included.
- Involuntary termination not for cause: CEO receives 2.00x base; Senior Team 1.00x; unvested equity forfeited unless eligible for retirement.
- No excise tax gross-ups are provided under the new programs.
- Existing CIC agreements for Nolan, Carmody, Butler remain; CFO Moreira to enter separate agreement.