Dorman Products amends CEO employment agreement, adopts executive severance plan

Dorman Products, Inc.

CEO Kevin Olsen's new agreement: $810k base salary, no fixed term; severance includes 150% base (non-CIC) or 200% base + 200% target bonus (CIC).
Company adopts Executive Severance Plan for other named officers: 1x base+target bonus (non-CIC) or 2x (CIC); includes COBRA and outplacement up to $50k.
Both the CEO agreement and Severance Plan are effective December 26, 2021.
Severance Plan participants must sign non-disclosure, non-compete, and non-solicitation covenants lasting up to 18 months post-termination.

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