Alight Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 17, 2024, Alight, Inc. (“Alight” or the “Company”), Alight Solutions LLC and David D. Guilmette, the Company’s Chief Executive Officer, entered into an Amended and Restated Employment Agreement (the “Amended Employment Agreement”). Pursuant to the Amended Employment Agreement, the end of the term of Mr. Guilmette’s employment with the Company has been extended from August 19, 2025 to December 31, 2027, with automatic one-year renewal terms thereafter unless either party provides 90-days’ notice of intent not to renew (such termination date, the “Term Expiration Date”).
The Amended Employment Agreement also amends certain termination-related provisions related to Mr. Guilmette’s employment. In the event of a termination without Cause or termination for Good Reason (each as defined in the Amended Employment Agreement), Mr. Guilmette will be entitled to receive (i) a lump sum severance payment equal to the product of his “Severance Multiple” times the sum of his base salary and target annual bonus, (ii) a pro-rata bonus for the year of his termination and (iii) subsidized COBRA coverage for up to 12 months following his termination of employment. Under the Amended Employment Agreement, the “Severance Multiple” will equal 1, in the case of a termination occurring on or prior to December 31, 2025, and will equal 2, in the case of a termination occurring on or after January 1, 2026.
The foregoing description of the material terms of the Amended Employment Agreement is qualified in its entirety by reference to the full text of the Amended Employment Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
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Exhibits. |
EXHIBIT INDEX
Exhibit No. |
Description |
10.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Alight, Inc. |
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Date: |
October 17, 2024 |
By: |
/s/ Martin Felli |
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Martin Felli, Chief Legal Officer and Corporate Secretary |