Company: KELYB
Filing Date: 2025-08-07
Form Type: 8-K/A
Source: 0001193125-25-175269
Chunk: 2

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 8-K/A
Chunk 2
---
5, his STIP award will be guaranteed to pay at least $450,000. Beginning with the 2026 grant, Mr. Layden will be eligible for consideration to receive awards under the Company’s Long-Term Incentive Plan (“LTIP”), as granted and approved by the Compensation and Talent Management Committee of the Company’s Board of Directors. The target award opportunity is 250% of annual salary, with earned performance shares ranging from 0% to 200% of the target award based upon the achievement of LTIP goals. Mr. Layden will receive a one-timecash sign-onbonus of $450,000 upon beginning his active employment with the Company. The payment will be subject to recovery by the Company if Mr. Layden voluntarily terminates his employment with the Company without good reason or his employment is terminated by the Company for cause (as defined in the Offer Letter) within two years after his initial employment date. Upon beginning his active employment with the Company, Mr. Layden will be granted shares of restricted stock valued at $4,000,000 in accordance with the terms of the Company’s Equity Incentive Plan (the “Sign-OnAward”). The number of restricted shares will be determined based on the closing price of the Company’s Class A common stock as of the grant date. The Sign-OnAward will vest over a three-year period, with 15% of the shares vesting on the first anniversary of the grant date, 35% vesting on the second anniversary, and 50% vesting on the third anniversary, subject to immediate vesting in full in the event Mr. Layden’s employment is terminated by the Company other than for cause or he resigns for good reason. Mr. Layden’s employment is at-will.Pursuant to the terms of the Amended and Restated Senior Executive Severance Plan (the “Severance Plan”) and effective the date he assumes responsibility as the Company’s CEO, in the event that Mr. Layden’s employment is terminated by the Company other than for “cause,” “disability” or death, or by Mr. Layden for “good reason” in connection with a “change in control” (as such terms are defined in the Severance Plan, with certain modifications described in the Offer Letter), Mr. Layden will become eligible to receive severance benefits. In the case of a qualified termination that occurs not in connection with a change in control, he would receive severance payments in the form of base salary continuation for