ServiceNow (NOW), a cloud-based solution for digital workflows provider, disclosed in a regulatory filing that it entered into an amendment to the previously filed employment agreement with William McDermott, Chairman and Chief Executive Officer. The amendment, effective January 1, 2026, confirms that McDermott will remain in service with the company through at least December 31, 2030.
The amendment further provides that McDermott's total compensation will be aligned with the Company's performance relative to its compensation peer group. Should he transition into the role of Executive Chairman, his compensation will be commensurate with the responsibilities associated with that position.
In addition, ServiceNow has amended its Executive Severance Policy, effective January 1, 2026. The updated policy revises certain severance payments and benefits that the CEO may become eligible to receive in the event of a Qualifying Termination, as defined in the policy.
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