Astec Industries Inc. has approved a new Executive and Key Employee Severance Plan that provides severance benefits to key employees, including cash payments and health benefits, based on their tier level, in case of involuntary termination. Tier I participants can receive severance equal to 2.0 to 3.0 times their salary and bonuses, while Tier II participants receive 1.0 to 2.0 times, along with additional benefits for health coverage and outplacement services.