Net Power adopts Executive Severance Plan with 1x to 1.5x severance multiples

NET Power Inc.

Board adopted severance plan on Aug 21, 2023; provides cash severance for eligible executives on qualifying termination.
Outside change-in-control: 1x base salary plus average bonus, pro-rata bonus, and 12 months COBRA premium payment.
During change-in-control protection period: 1.5x base salary plus average bonus, pro-rata bonus, and 18 months COBRA.
Plan supersedes all prior individual severance agreements; includes non-compete, non-solicit, and confidentiality covenants.
Severance conditioned on execution of release and continued compliance with restrictive covenants.

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