NCR Atleos Corp
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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FY2023 · Filed Mar 26, 2024
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Item 9B. Other Information
During the fiscal year ended December 31, 2023, no director or officer of the Company adopted orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of the SEC’s Regulation S-K.
On March 20, 2024, the Compensation & Human Resource Committee (the “CHRC”) of the Company’s Board of Directors approved an Amended and Restated Executive Severance Plan (the “Plan”). Certain executives designated by the CHRC participate in the Plan, including its named executive officers. Under the Plan, if an eligible executive’s employment is terminated by the Company without “cause” (other than death or “disability” as defined in the Plan) or if the eligible executive voluntarily terminates employment for “good reason”, the Company provides the eligible executive with the following: (i) a lump sum equal to one times (1.0) salary plus the prior year target bonus, (ii) a lump sum of the prorated actual bonus for the year of termination, (iii) up to 18 months of COBRA medical, dental, and vision coverage, (iv) 12 months of life insurance coverage, and (v) outplacement services under the Company’s outplacement program in effect on the termination date.
The foregoing description of the Plan does not purport to be complete and is qualified in its entirety by reference to the form Plan, a copy of which is filed as Exhibit 10.25 to this Form 10-K and incorporated herein by reference.
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