Company: KRO
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001257640-25-000009
Chunk: 53

Company: KRONOS WORLDWIDE INC
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 53
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 allocation of its costs among us and Contran, is fair and reasonable to us, and is on terms no less favorable than we could otherwise obtain from unrelated parties, and provided the committee with his recommendation that the committee approve, adopt and ratify our participation in the IT data services program in all respects. After considering the information contained in the presentation, including the recommendation of our chief financial officer, and following further discussion and review by the audit committee, our audit committee determined that our participation in the IT data services program is fair and reasonable to us, and is on terms no less favorable than we could otherwise obtain from unrelated parties, in each case based on the collective business judgment and experience of members of the committee, and the committee approved, adopted and ratified our participation in the IT data services program in all respects. Office Sublease . Under the terms of a sublease agreement between us and Contran, we lease a portion of Contran’s Dallas, Texas office for use by us and certain of our North American operations. In 2024, Kronos Worldwide paid Contran approximately $0.7 million for rent and related ancillary services under the sublease. The amounts paid by us under the sublease are based on Contran’s costs without markup. We expect that this relationship will continue in 2025. In February 2024, our management made a presentation to our audit committee regarding our sublease with Contran. Among other things during such presentation, the committee was informed of the following:

| ● | the rentable square feet occupied by us within Contran’s office and the number of our employees and contractors occupying such office space; |

| ● | the annual rent and related ancillary services fee paid by us to Contran; |

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| ● | the nature and scope of the ancillary services provided by Contran to us including, among other things, postage and mailroom services, canteen services, and office supplies and equipment; and |

| ● | the benefits of our co-location and sublease arrangement with Contran rather than securing standalone office space from a third party. |

As part of such presentation, our chief financial officer, after consultation with other members of our management, advised the committee of his belief that the terms of the sublease are fair and reasonable to us, and are on terms no less favorable than we could otherwise obtain from unrelated parties, and provided the committee with his recommendation that the committee approve, adopt and ratify the sublease in all respects. After considering the information contained in