Lennox International Adopts Change in Control Severance Plan

Lennox International Inc.'s Board approved a new Change in Control Severance Plan to align with market practice and shareholder expectations. The plan modifies severance benefits for executive officers, including moving from single-trigger to double-trigger equity vesting and eliminating tax gross-ups.

“On December 9, 2022, the Board also approved the Lennox International Inc. Change in Control Severance Plan (the “CIC Severance Plan”), effective as of December 9, 2022, to better align the Company’s change of control arrangements with market practice and shareholder expectations.”

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