GitLab board amends Severance Plan to protect equity in change-of-control

Gitlab Inc.

Board clarified that equity awards cannot be cancelled without consideration in a Corporate Transaction.
Tier 1 (CEO) severance: 12-month salary/benefits plus prorated bonus; CIC: 18-month pay, extra bonus, full equity vest.
Tier 2 (Grade 14) gets 6-month severance; CIC provides 12-month pay with equity acceleration.
Tier 3 (Grade 12-13) has case-by-case 4-month severance; CIC offers 9-month pay and equity vesting.
Amendments define Cause, Good Reason and Corporate Transaction to clarify triggering events.

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