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During the roughly 33-hour period when Automattic’s board placed CEO Matt Mullenweg on paid leave on September 9, CFO Mark Davies and Chief Legal Officer Andy Missan signed severance agreements for one another that would provide a year of salary, accelerated equity vesting, option exercise rights and a year of health coverage if departures qualify. Mullenweg returned to the role about 33 hours later and subsequently terminated both executives, potentially triggering roughly $8.15 million in combined payouts if the agreements are enforced.
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