Company: ALIT
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001809104-25-000159
Chunk: 78

Company: Alight, Inc. / Delaware
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 78
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 for up to 12 months following his termination date. The Scholl Agreement Under the terms of the Scholl Agreement, Mr. Scholl served as our CEO. His initial term of employment was five years from the effective date of the Scholl Agreement. Mr. Scholl received a base salary of $800,000 per year, which the Scholl Agreement provided could be increased (but not decreased) from time to time by the Board and was eligible to receive an annual bonus targeted at 200% of his base salary. The Scholl Agreement also provided that upon a “change in control” (as defined in the Scholl Agreement) of Alight Solutions, any initial equity-based incentive awards granted to Mr. Scholl in connection with the closing of the Company’s business combination on July 2, 2021 (the “Initial Grant”) would immediately vest in full, subject to Mr. Scholl’s continued employment on the date of such change in control. However, if Mr. Scholl’s employment was terminated by Alight Solutions without “cause” or by Mr. Scholl with “good reason” (as each term is defined in the Scholl Agreement), in either case, in the six-month period prior to a change in control, Mr. Scholl would have been deemed employed as of the date of the change in control for purposes of vesting with respect to the Initial Grant. Pursuant to the Scholl Agreement, Mr. Scholl was also entitled to (i) reimbursement by Alight Solutions for costs associated with his use of private aviation for business-related purposes, in an amount up to an annual average of $6,700 per hour for up to 200 flight hours per year, and (ii) travel first-class on any commercial flight for business purposes. For further information regarding private aviation, please refer to “Certain Relationships and Related-Person Transactions.” As more specifically described and set forth in the Scholl Agreement, Mr. Scholl was also eligible to receive severance benefits following certain terminations of his employment. Upon a termination of Mr. Scholl’s employment by us without “cause” or by Mr. Scholl for “good reason” (as each term is defined in the Scholl Agreement), Mr. Scholl was entitled to receive the following payments and benefits, subject to his timely execution and non-revocation of a general release of claims: (i) a severance payment, payable in equal installments over 24 months following termination and equal to two times the sum of: (