Amendment to Employment Agreement and Executive Severance Policy for ServiceNow, Inc.
ServiceNow, Inc. has amended the employment agreement for its Chairman and CEO, William R. McDermott, extending his service through at least December 31, 2030. During this period, he will serve in roles such as CEO, co-CEO, Executive Chairman, or Non-Executive Chairman, with compensation aligned to his responsibilities and company performance. The company also amended its Executive Severance Policy, effective January 1, 2026. The updated policy details severance payments and benefits for the CEO upon a Qualifying Termination, both in connection with and separate from a Change in Control. Benefits include lump-sum payments based on salary and target bonus, continued COBRA coverage, and accelerated vesting of RSUs and PRSUs. Specific provisions are also outlined for retirement, death, and disability scenarios. The policy aims to ensure retention and provide economic security for senior employees.