In a recent proxy filing, energy company Tellurian has announced its decision to remove former executive Charif Souki from all executive roles without cause, resulting in a cash payment of at least $6 million. This comes after Souki earned a total compensation of $8.2 million last year.

According to Tellurian, if Souki agrees to a separation and general release agreement, the company "may be required to pay" additional severance. However, a spokesperson for Tellurian has not yet responded to requests for comment on the matter.

Under Souki's employment contract, a cash severance payment equivalent to two times his base salary and target bonus, amounting to at least $6 million, is outlined. This payment is in addition to any other bonuses or salaries owed to Souki.

Resolving the financial terms of Souki's departure will require mutual agreement between him and Tellurian, as stated by an individual familiar with the situation.

This development marks a significant change in executive leadership at Tellurian and highlights the company's commitment to restructuring its management team. As the details of Souki's departure continue to unfold, the industry awaits further updates on the impact this decision will have on Tellurian's future plans and operations.

It is worth noting that Tellurian is an independent liquefied natural gas (LNG) company with a focus on developing low-cost, large-scale LNG projects. The company aims to capitalize on the growing demand for clean energy solutions globally.