FuelCell Energy Inc. will pay former Executive Vice President and General Counsel Joshua Dolger nearly $400,000 in severance under a separation agreement finalized this week, according to a filing with the Securities and Exchange Commission.
FuelCell Energy Inc. will pay former Executive Vice President and General Counsel Joshua Dolger nearly $400,000 in severance under a separation agreement finalized this week, according to a filing with the Securities and Exchange Commission.
The Danbury-based fuel cell manufacturer will pay Dolger $398,494 — equal to 12 months of his base salary — in installments over a year following his departure, which became effective Jan. 6.
Under the agreement executed Feb. 3, Dolger will receive accelerated vesting of 44,911 unvested restricted stock units and remain eligible for a prorated portion of his performance stock units based on actual results. He is also eligible to receive his fiscal year 2025 management incentive plan award.
All other unearned performance stock units and unvested equity awards were forfeited, according to the filing.
The severance benefits are contingent on Dolger not revoking his release of claims and complying with noncompete, nonsolicitation and confidentiality provisions from a May 2021 agreement.
FuelCell announced Dolger’s departure Jan. 7, stating his employment had been terminated without cause.
Amanda J. Schreiber succeeded Dolger as executive vice president, general counsel and corporate secretary, effective Jan. 12. She previously served as executive vice president and general counsel of ContourGlobal, a British power generation company.
Dolger joined FuelCell in May 2021 after previously working at Norwalk-based manufacturing company Terex Corp.
