Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 33

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 33
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 |     |                      | $ | 250,000 |     |             | $ | 350,000 |     |                                        | $ | 20,000 |     |                | $ | 15,000 |     |              | $ | 15,000 |

Under the Company’s amended and restated Equity Incentive Plan (“EIP”), the Board of Directors must periodically determine the percentage of the base retainer that will be issued to non-employeedirectors in shares of Class A Common Stock. At the meeting of the Board following the 2024 Annual Meeting of Shareholders, the Board determined that $150,000 of the base retainer would be issued in shares (60%) and $100,000 of the base retainer would be paid in cash (40%). Equity portion of $200,000 and cash portion of $150,000 were updated for the Chairman of the Board. Stock Ownership Requirements Non-employeedirectors are subject to a stock ownership requirement that is a minimum fair market value of four times the value of the cash portion of the annual base retainer (which currently equates to $400,000). Although there is no fixed compliance period, new directors are expected to meet the ownership requirements within five years of their appointment date. All directors are compliant with the Company’s stock ownership requirements.

| 39 |

Director Compensation Non-EmployeeDirectors Deferred Compensation Plan The Company established the Non-EmployeeDirectors Deferred Compensation Plan (“DDCP”), which provides non-employeedirectors with the opportunity to defer all or a portion of all fees payable to them, pursuant to a valid deferral election. The DDCP is a non-qualifiedplan that allows for the deferral of all or a portion of annual cash payments to a notional account with investment fund choices that mirror those provided to participants in the Company’s Management Retirement Plan (“MRP”). In addition to those fund choices, the Plan also includes the option to defer annual cash payments into Company common stock units. Non-employeedirectors may also elect to defer all or a portion of their annual stock retainer into Company common stock units. Participants may elect to receive distributions from their DDCP account at the time they cease to be a director of the Company or at a future date that is between one and ten years following the date they cease to be a director of the Company. Non-employeedirectors can elect to have distributions from the DDCP made in either a lump sum or in annual installment payments