1 year 7 months ago
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EA has brought in a new policy that will put a cap on the cash portion of executive severance packages, but not the amount of stock included in such.
As per a filing lodged last week spotted by Axios, EA will no longer enter an employment, severance or separation agreement with any executive officer that exceeds 2.99 times the sum of said employee's base salary, plus annual bonus targets.
The new structure is a partial recognition of a proposal that shareholders voted for earlier this year that aimed to combat the firm's "tendency to overpay management."