Chegg adopts new severance plan for CEO and CFO with enhanced benefits through Oct 2026

CHEGG, INC

CEO Nathan Schultz and CFO David Longo covered under new Chegg Severance Plan, effective Oct 17, 2024.
In a Change-in-Control termination before Oct 17, 2026: CEO gets 150% salary + 150% bonus, 18 mo COBRA, full equity vest.
CFO under same scenario: 125% salary + 125% bonus, 15 mo COBRA, full equity vest.
Non-CIC termination before Oct 17, 2026: CEO and CFO each get 125% salary + 125% bonus, 15 mo COBRA, 12 mo equity vest.
Benefits reduce after Oct 17, 2026; plan supersedes prior Change-in-Control Severance Plan.

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