Company: ALIT
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001809104-25-000159
Chunk: 56

Company: Alight, Inc. / Delaware
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 56
---
 four candidates for election to the Board at the 2024 annual meeting of stockholders. On May 5, 2024, the Company and Starboard entered into a cooperation agreement (the “Cooperation Agreement”), pursuant to which Starboard withdrew its nomination notice and the Board appointed David D. Guilmette as a Class I director of the Board and Coretha M. Rushing as a Class III director of the Board. As a part of the Cooperation Agreement, the Company reimbursed Starboard for its reasonable, documented out-of-pocket fees and expenses incurred in connection with its involvement with the Company, including but not limited to, its Schedule 13D filings, its preparation and delivery of its nomination notice, its preparation and filing of preliminary proxy materials, and the negotiation and execution of the Agreement, in the aggregate amount of approximately $0.6 million. The Cooperation Agreement also contains mutual non-disparagement covenants and certain standstill obligations applicable to Starboard. Transactions with Portfolio Companies Our current Sponsor Investors (as defined below) are majority investors in, have control over, or are otherwise affiliated with many other companies. We have entered, and may in the future enter, into commercial transactions in the ordinary course of our business with some of these companies, including the sale of products and services and the purchase of products and services. We monitor those transactions with portfolio companies of our Sponsor Investors (as defined below) who are actively involved with the management of the Company and inform the Audit Committee of transactions which require their oversight and approval under the Policy. None of these transactions or arrangements, in isolation, has been or is expected to be material to Alight. During Fiscal 2024, we recognized revenue of approximately $2.7 million for services we provided to entities affiliated with Foley. During the same period, we paid approximately $0.2 million for products and services we received from entities affiliated with Foley. Post-Business Combination Arrangements We entered into certain agreements with certain of our pre-Business Combination investors in connection with the closing of the Business Combination. The agreements described in this section are qualified in their entirety by reference to the full text of such agreements, which have been filed as exhibits to our Annual Report. These agreements include: • Second Amended and Restated Limited Liability Company Agreement of Alight Holdings (see the section below entitled “Alight Holdings Operating Agreement”); • Tax Receivable Agreement (see the section below entitled “Tax Receivable Agreement”); • Investor Rights Agreement (see the section below entitled “Invest