Vera Bradley Inc. has announced a new compensation agreement with its former Chief Financial Officer, Michael Schwindle, whose employment will conclude on June 30, 2025. Under the terms of the Release and Waiver Agreement, Schwindle will receive severance compensation that includes his base salary up to the termination date, accrued benefits, and reimbursement for any unreimbursed business expenses. Additionally, the agreement provides for reimbursement of COBRA premiums for up to 12 months, a lump sum payment of $675,937.50, and a potential additional amount equivalent to 1.25 times the annual bonus he would have received for the 2026 fiscal year. In return, Schwindle has agreed to release Vera Bradley and its affiliates from all employment-related claims. The details of this agreement are outlined in the Release Agreement filed as Exhibit 10.1 in the company's report.
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