Crexendo enters new employment agreements with six C-level officers; includes severance and change-of-control benefits

Crexendo, Inc.

At-will agreements signed Feb 5-6, 2024 with CEO Jeff Korn, President/COO Doug Gaylor, CFO Ron Vincent, CRO Jon Brinton, CSO Anand Buch, CTO David Wang.
Severance: one month base salary per year of service up to 12 months on termination without cause, plus COBRA reimbursement for one year.
Change-of-control benefits: severance of 12 months salary plus max target bonus if acquirer fails to offer comparable role; RSU award of $1M-$2M based on transaction price per share.
All unvested equity awards automatically vest upon a change of control.
Non-compete and non-solicit restrictions apply for 120 days after termination.

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