Verizon amended CEO Daniel H. Schulman’s employment agreement, extending the initial term to Dec. 31, 2028 from Dec. 31, 2027.
The contract shifts to annual one-year renewals after 2028 unless either side gives at least 90 days’ notice of non-extension.
2028 pay and long-term incentive terms
For 2028, base salary and target annual incentive are set no lower than the levels in place through Dec. 31, 2027.
The 2028 long-term incentive is set at a target value of at least $25 million, to be granted in the first three months of 2027.
Time-based vesting is deemed fully satisfied on a succession-event termination on or after grant, and the award is his sole long-term incentive for 2028.
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