Dover amends executive severance plans, including CIC and without-cause termination benefits

DOVER Corp

Compensation Committee amended Executive Severance Plan and CIC Severance Plan effective August 5, 2021.
Tier 1 participants (senior executives) without-cause termination: base salary plus target bonus paid over 12 months, pro-rata bonus/equity, 12 months COBRA.
Tier 2 participants: base salary over 12 months, pro-rata bonus/equity, 12 months COBRA, outplacement up to $10K.
CIC plan: two times base plus target bonus, pro-rata target bonus, 24 months COBRA, legal fee reimbursement for prevailing participants.

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