Company: KD
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0001140361-25-022676
Chunk: 64

Company: Kyndryl Holdings, Inc.
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 64
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 Reason, a “covered termination”), in each case, subject to the executive’s (i) execution and non-revocation of a general release of claims in favor of the Company, (ii) execution of a two-year non-solicitation agreement and (iii) continued compliance with the executive’s Agreement Regarding Confidential Information and Intellectual Property with the Company. The Severance Plan also provides for continued vesting of certain equity awards upon a “qualifying retirement” (as defined below). In the event of a covered termination, in addition to certain accrued obligations as of March 31, 2025, the Severance Plan provided for the following payments and benefits to the NEOs:

| • | a lump-sum pro-rata bonus for the year of termination, based on actual performance; |

| • | a lump-sum payment in an amount equal to 24 months’ base salary in the case of Mr. Schroeter, or 18 months’ base salary in the case of each of the other NEOs, in each case inclusive of any notice period; |

| • | continued health insurance coverage, or reimbursement of premiums for coverage, at substantially the same level as provided immediately prior to such termination, at the same cost as generally provided to similarly situated active Company employees, for a period of 18 months (the “welfare benefit”), inclusive of any notice period; and |

| • | payment of, or reimbursement for, six months of outplacement services (the “outplacement benefit”). |

| KYNDRYL2025 PROXY STATEMENT|67 |

TABLE OF CONTENTS

Notwithstanding the foregoing, in the event such covered termination occurs within the 24-month period following a change in control (as defined in the LTPP), in addition to certain accrued obligations, the Severance Plan provides for the following payments and benefits to the NEOs:

| • | a lump-sum pro-rata bonus for the year of termination, based on target performance; |

| • | a lump-sum cash severance amount equal to the sum of 24 months’ base salary and two times target annual incentive plan payout in the case of Mr. Schroeter, or the sum of 18 months’ base salary and one and one-half times target annual incentive plan payout in the case of the other NEOs; |

| • | the welfare benefit; |

| • | the outplacement benefit; and |

| • | financial advisory services (for executives in Band B and above). |

In addition, the Severance Plan provides that, upon