Summary by Moomoo AI
Dollar Tree has revised executive agreements with Michael C. Creedon, Jr., Jeffrey Davis, and Lawrence Gatta, Jr., signed between November 12-15, 2024. The updated agreements include enhanced severance benefits and align with current market practices while maintaining internal consistency across executive agreements.Key changes to the severance benefits include: a lump sum payment of 24 months base salary, addition of a prorated target bonus payment, reduction in COBRA continuation period from 24 to 18 months, and continuation of benefits regardless of new employment (except for COBRA if covered by another health plan). The agreements contain protective restrictive covenants for the company.The company has also made this revised agreement available to other executive officers, including Richard McNeely. These new agreements will supersede all existing executive agreements once executed.
