Opendoor adopts Executive Severance Plan covering CEO, CFO, and key employees

Opendoor Technologies Inc.

Severance plan adopted Dec 22, 2022; CEO designated Tier 1 Executive, CFO and certain others Tier 2.
On termination without cause or for good reason (non-CIC): Tier 1 gets base plus target bonus over 12 months, COBRA, equity acceleration of shares vesting within 12 months.
On change-in-control termination: Tier 1 gets 1.5x base salary plus pro rata bonus over 18 months, COBRA, 100% acceleration of time-based equity.
Benefits require release of claims and compliance with restrictive covenants; 280G cutback applies if excise tax triggered.

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