Kraft Heinz amends severance, CIC plans, and equity award treatment for NEOs effective Jan 1, 2023

Kraft Heinz Co

New severance plan (eff. Jan 1, 2023): CEO gets 24 months' salary, senior executives 18 months, plus prorated equity vesting for pre-2023 awards.
New Change in Control Severance Plan: CEO receives 2x salary plus target bonus, senior execs 1.5x sum; health benefits for 24/18 months respectively.
Amendments to 2016/2020 omnibus plans: performance awards deemed satisfied at greater of target/actual; accelerated vesting if successor doesn't assume awards.
Severance conditioned on release of claims and restrictive covenants (non-compete/non-solicit) for period equal to months of salary.

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