BKV adopts executive severance plan with up to 3x salary-plus-bonus payouts after change in control
BKV•BKV adopted an executive severance plan covering named executive officers on Sept. 24, 2026. Terminations within two years after a change in control trigger lump-sum payouts of 3x salary plus target bonus for the CEO and 2x for other participants.
1. Severance terms
Outside a change-in-control window, the plan provides severance of 2x base salary plus target bonus for the CEO and 1x for other participants. Payments are made over 24 months for the CEO and 12 months for others, with a prorated target bonus. The plan also addresses equity vesting, health premiums and earned but unpaid prior-year bonuses.
