Workday adopts new Executive Severance and Change in Control Policy adding non-CIC severance

Workday, Inc.

New policy adds severance for termination without cause outside a Change in Control period (Non-CIC Qualifying Termination).
CEO receives 1x salary plus 1x target bonus, 12-month equity acceleration, and COBRA premiums in a Non-CIC termination.
Other Section 16 Officers receive 1x salary, pro-rata bonus, 12-month equity acceleration, and COBRA premiums.
Within a CIC period, CEO gets 2x salary plus 2x bonus, 100% equity acceleration, and 24 months of COBRA.
Policy replaces prior Change in Control Policy, effective November 30, 2023.

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