NCR Atleos Corporation
09/26/2025 | Press release | Distributed by Public on 09/26/2025 14:21
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 23, 2025, the Compensation and Human Resource Committee (the "CHRC") of the Board of Directors of NCR Atleos Corporation (the "Company") approved an amendment to the employment agreement of the Company's Chief Executive Officer, Timothy C. Oliver (the "Amendment").
The Amendment is effective as of October 16, 2025 (the "Effective Date") and continues Mr. Oliver's current 300% Separation Multiplier under the Company's Change in Control Severance Plan, which absent the Amendment would have been reduced to 200% on the Effective Date.
The CHRC approved the Amendment in order to continue the same level of retention value that is currently in effect for Mr. Oliver. The CHRC did not view a reduction in the Separation Multiplier to be an appropriate outcome based on Mr. Oliver's performance and overall importance to the Company.
Except as set forth above, the terms of the employment agreement have not been modified by the Amendment. The discussion above is qualified in its entirety by reference to the Amendment, which is being filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
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