Cerence enters new change of control equity acceleration and severance agreements with CEO Stefan Ortmanns

Cerence Inc.

US CoC agreement provides accelerated equity vesting: 18-month time-based vesting upon termination without cause; 100% acceleration within change of control period.
GmbH CoC agreement provides cash severance: 150% base salary + bonus outside change of control; 200% inside change of control period.
Both agreements effective June 19/21, 2022, replace prior December 2019 agreements.
Initial three-year term with automatic one-year renewals; extends to one-year anniversary after a change of control.

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