Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 121

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 121
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 the Company) as provided in Section 21(a) hereof, then, except as otherwise provided in the applicable Award Agreement or in another written agreement with the Participant, or in an applicable Company severance plan, if any: (i) Any such outstanding Awards that are subject to Performance Objective shall be converted to service-based Awards by the resulting entity based on the Shares payable as if the “target” level Performance Objectives had been achieved, and such converted Awards shall continue to vest and become exercisable or be paid (as applicable) based on continued service during the remaining vesting period; (ii) All other such outstanding Awards shall continue to vest and become exercisable or be paid (as applicable) based on continued service during the remaining vesting period, if any; and (iii) Notwithstanding the foregoing, if a Participant’s employment is terminated in a Qualified Termination, all such outstanding Awards shall become vested and exercisable or be paid (as applicable) in full, effective as of the date of such Qualified Termination, and any such Awards that are Stock Options or Stock Appreciation Rights shall be cancelled in accordance with Section 21(d) as of the date of termination of employment. (c) Awards that are not Assumed. To the extent outstanding Awards granted under the Plan are not assumed, converted or replaced by the resulting entity in connection with a Change in Control (or, if the Company is the resulting entity, to the extent such Awards are not continued by the Company) in accordance with Section 21(a) hereof, then, except as otherwise provided in the applicable Award Agreement or in another written agreement with the Participant, or in an applicable Company severance plan, if any, then, effective immediately prior to the Change in Control: (i) All service-based and performance-based vesting restrictions with respect to all such outstanding Awards shall lapse, with any applicable Performance Objectives deemed to be satisfied as if “target” performance had been achieved, and all such Awards shall become fully vested and exercisable or be paid, as applicable, effective as of the date of such Change in Control; and (ii) All such outstanding Awards that are Stock Options or Stock Appreciation Rights shall be cancelled in accordance with Section 21(d) effective on the Change in Control. (d) Cancellation Right. The Committee may, in its sole discretion and without the consent any Participant, either by the terms of the applicable Award Agreement or by resolution adopted prior to the occurrence of the Change in Control, provide that any outstanding Award