Mr. Kinzer’s resignation from the Board was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
In connection with Mr. Kinzer’s resignation of his executive roles, and provided he executes a customary release of claims in favor of the Company, Mr. Kinzer will be entitled to receive the payments and benefits payable in the event of his resignation for Good Reason, as that term is defined in Mr. Kinzer’s employment agreement and the Navitas Semiconductor Executive Severance Plan, including a lump-sum payment equal to 12 months of his base salary, 12 months’ continued health care coverage, and a pro rata annual bonus reflecting the portion of the calendar year during which he was employed.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Daniel Kinzer resigned as Director at Navitas Semiconductor Corp.
Action
resigned
Role
Director
Exact text from the filing
Mr. Kinzer’s resignation from the Board was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Daniel Kinzer resigned as other_named_officer at Navitas Semiconductor Corp.
Action
resigned
Exact text from the filing
In connection with Mr. Kinzer’s resignation of his executive roles, and provided he executes a customary release of claims in favor of the Company, Mr. Kinzer will be entitled to receive the payments and benefits payable in the event of his resignation for Good Reason, as that term is defined in Mr. Kinzer’s employment agreement and the Navitas Semiconductor Executive Severance Plan, including a lump-sum payment equal to 12 months of his base salary, 12 months’ continued health care coverage, and a pro rata annual bonus reflecting the portion of the calendar year during which he was employed.
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