Cerence enters change of control severance agreement with CTO Prateek Kathpal

Cerence Inc.

Agreement has three-year initial term, automatically renews unless either party gives 90 days notice.
Without cause termination outside change of control: 100% base salary over 12 months, target bonus + pro-rata, equity vesting for 12 months, 12 months COBRA.
Within one year after change of control: lump sum 150% base salary, 150% target bonus + pro-rata, full equity acceleration, 18 months COBRA.
Death or disability triggers full time-based equity vesting and pro-rata performance-based awards.
Severance contingent on signing a release and complying with confidentiality and non-competition/non-solicitation covenants.

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