XL Fleet Corp. Announces Resignation of Dimitri Kazarinoff from the Board of Directors
November 25, 2021 at 02:31 am IST
On November 20, 2021, Dimitri Kazarinoff resigned from the Company?s Board of Directors and he and the Company entered into a separation agreement pursuant to which, provided that Mr. Kazarinoff does not revoke the agreement on or prior to November 27, 2021 and thereafter complies with its terms, Mr. Kazarinoff?s employment as the Company?s Chief Executive Officer will end effective December 1, 2021 and he will receive (i) severance pay equal to twelve months of his current annual base salary, payable as continued salary in accordance with the Company?s regular payroll dates, (ii) acceleration of the vesting of all of his stock options that are outstanding as of December 1, 2021 by twelve months, and (iii) the extension of the period for the exercise of his stock options from three months to twenty four months post-termination.