Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 88

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 88
---
 change in control. The detailed definition of cause is contained in the 2025 Plan, which is attached to this proxy statement as Annex A. The 2025 Plan generally defines a change in control to include: (i) the acquisition of 20% or more of either the Company’s Class B common stock or the combined voting power of the Company’s outstanding voting securities (with certain exceptions as set forth in the 2025 Plan), (ii) the replacement of a majority of the incumbent members of the Board in a 24-monthperiod, (iii) a reorganization, merger, consolidation or sale of all or substantially all of the Company’s assets, unless the Company’s shareholders own more than 50% of voting securities of the resulting corporation, or (iv) shareholder approval of a complete liquidation or dissolution of the Company. The 2025 Plan, attached to this proxy statement as Annex A, contains the complete, detailed definition of change in control. Adjustments In the event of any equity restructuring, such as a stock dividend, stock split, spin-off,rights offering or recapitalization through a large, nonrecurring cash dividend, the Compensation and Talent Management Committee will adjust the number and kind of shares that may be delivered under the 2025 Plan, the number and kind of shares subject to outstanding awards and the exercise price or other price of shares subject to outstanding awards, to prevent dilution or enlargement of rights. In the event of any other change in corporate capitalization, such as a merger, consolidation or liquidation, the Compensation and Talent Management Committee may, in its discretion, make such an equitable adjustment, to prevent dilution or enlargement of rights. However, unless otherwise determined by the Compensation and Talent Management Committee, we will always round down to a whole number of shares subject to any award. Moreover, in the event of any such transaction or event, the Compensation and Talent Management Committee, in its discretion, may provide in substitution for any or all outstanding awards such alternative consideration (including cash) as it, in good faith, may determine to be equitable in the circumstances and may require in connection therewith the surrender of all awards so replaced. The Compensation and Talent Management Committee, in its sole discretion, may also provide at any time for the exercisability of outstanding stock options and SARs, the lapse of time-based vesting restrictions and the satisfaction of performance objectives applicable to outstanding awards, or the waiver of any other limitation or requirement under any awards. Transferability Except as the Compensation and Talent Management