Corporate GovernanceJun 29, 2026, 04:47 PM
Tenax Therapeutics Adopts New Severance & Change in Control Plans
AI Summary
Tenax Therapeutics, Inc. announced that its Board of Directors approved amendments to the employment agreements for Christopher Giordano, Thomas Staab, and Stuart Rich. Concurrently, the Board adopted a new Change in Control Plan and a Severance Plan for eligible employees. The executive employment agreement amendments align their severance and change in control benefits with the newly adopted plans, though executives are not directly eligible for the new company-wide plans.
Key Highlights
- Board approved amendments to employment agreements for Christopher Giordano, Thomas Staab, and Stuart Rich.
- Board adopted the Tenax Therapeutics, Inc. Change in Control Plan (CIC Plan).
- Board adopted the Tenax Therapeutics, Inc. Severance Plan.
- Executive employment agreements were amended to provide severance and other benefits.
- CIC Plan offers "double trigger" equity acceleration and cash severance for eligible employees.
- Severance Plan provides benefits for eligible employees terminated without Cause.
- Executive officers are covered by individual amended agreements, not the new plans directly.
Price Impact
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