EPAM Systems Inc. has announced the approval of its new Executive Severance Plan, effective June 23, 2025. Under this plan, executive officers, including the Chief Executive Officer and Chief Financial Officer, are eligible for severance payments and benefits upon specific qualifying employment terminations. The plan provides a lump sum cash severance payment of 1.5 times the executive's current base salary plus target bonus, with the Chief Executive Officer receiving two times this amount. It also includes payment or reimbursement of COBRA premiums for 18 months, extending to 24 months for the CEO, and acceleration of vesting for certain restricted stock unit awards. This plan aims to provide financial security to executives during transitions.
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