Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 82

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 82
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 share price, may affect the rate at which shares are utilized under the 2025 Plan. The Board believes that the 2025 Plan is necessary for the Company to continue to provide appropriate incentives for outstanding service and to assist in recruiting and retaining highly qualified individuals as employees, non-employeedirectors and consultants. Certain key features of the 2025 Plan are described below:

| Feature                                                         |     | Description                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Reasonable Share Reserve                                        |     | The total number of shares that may be issued pursuant to awards granted under the 2025 Plan will be limited to 4,000,000 shares, plus the number of shares available for the grant of award under the Prior Plan immediately prior to the date of the Annual Meeting.                                                                                                                                                       |
| Responsible Share Counting Provisions                           |     | The 2025 Plan does not permit “liberal share recycling.” Only awards that are cancelled, forfeited or paid only in cash can be added back to the 2025 Plan’s share reserve. Shares withheld to satisfy a tax withholding obligation or pay the exercise price of a stock option will not be added back to the 2025 Plan’s share reserve, and neither will any shares repurchased by the Company using stock option proceeds. |
| Minimum Vesting Periods for Awards to Employees and Consultants |     | The 2025 Plan generally requires that awards granted to employees or consultants have a minimum vesting period of at least one year. However, 5% of the total number of shares authorized for issuance under the 2025 Plan may be used for awards to employees and consultants without imposing this minimum vesting requirement. Awards granted to non-employee directors are not subject to minimum vesting requirements.  |
| Director Compensation Limit                                     |     | The 2025 Plan includes an annual limit on compensation of our non-employee directors. Specifically, the aggregate grant date fair value of all awards granted to a non-employee director under the 2025 Plan during any single fiscal year, together with any cash compensation earned by that non-employee director during the fiscal year, may not exceed $1,000,000.                                                      |
| No “Liberal” Change in Control Definition                       |     | The 2025 Plan does not include a “liberal” change in control definition, which means that a change in control must actually occur in order for the change in control provisions of the 2025 Plan to apply.                                                                                                                                                                                                                   |

| 77 |

Proposal 3: Vote to Appro