Ciena Corporation has entered into revised change in control severance agreements with its executive officers, effective November 30, 2025. The agreements, covering executives including President and CEO Gary B. Smith and CFO Marc D. Graff, maintain severance benefits at previous levels. Key updates include clarification that the agreements do not restrict Ciena's rights under its Executive Compensation Clawback Policy, new language on the treatment of equity under Section 409A of the Internal Revenue Code, and other administrative changes. The agreements have a fixed term through November 30, 2028, unless terminated earlier.
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