An announcement from Globe Life ( ($GL) ) is now available.
Globe Life Inc.’s Board of Directors has introduced the Executive Severance Plan, offering severance benefits to key executives, including Co-CEOs, in cases of employment termination without cause or for good reason. The plan provides cash severance based on salary and bonuses, along with support for health plans and future employment assistance. Amendments to stock options and performance shares ensure vesting aligns with termination conditions, protecting executives during changes in control. Compliance with confidentiality and other provisions is required to maintain benefits.
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