FedEx Corporation's Board of Directors approved an Executive Severance Plan to govern future executive officer separations, replacing Management Retention Agreements. The plan includes lump sum cash payments based on a multiplier (2x for CEO, 1.5x for long-term employees, and 1x for others) of base salary and target bonus, plus prorated bonuses and COBRA premiums. Additionally, the Board established a one-time special cash bonus pool for approximately 1,100 employees to recognize transformation results, including $1 billion in cost savings. FedEx Corporation is a global logistics and transportation company providing delivery and shipping services.
