Concentrix revises executive severance plan, adds non-change-of-control protection

Filed July 24, 2026 · Period ending July 23, 2026 · ~1 min read

Key Changes

• medium

  Board adopted amended severance plan replacing prior change-of-control formula (18-24 months salary continuation based on service) with 2x base salary plus target bonus for executives terminated without cause within change-of-control window.

  Item 5.02 verify on EDGAR →
• medium

  Plan now provides severance outside change-of-control scenarios: executives terminated without cause receive 1x base salary plus target bonus, a protection not previously offered.

  Item 5.02 verify on EDGAR →
• low

  Added best-net Section 280G provision limiting change-of-control payments to avoid excise taxes only when executive would be better off after-tax with reduced amount.

  Item 5.02 verify on EDGAR →