# EDGAR Filing Document

**Accession Number:** 0000108772
**File Stem:** 0001193125-25-288323
**Filing Date:** 2025-11
**Character Count:** 33918
**Document Hash:** 468581fd05773135776677322a200bb6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-288323.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0001193125-25-288323

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251113

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Xerox Holdings Corp
- **CENTRAL INDEX KEY:** 0001770450
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 833933743
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39013
- **FILM NUMBER:** 251500210

**BUSINESS ADDRESS:**
- **STREET 1:** 201 MERRITT 7
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06851
- **BUSINESS PHONE:** 2038495216

**MAIL ADDRESS:**
- **STREET 1:** 201 MERRITT 7
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06851
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** XEROX CORP
- **CENTRAL INDEX KEY:** 0000108772
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 160468020
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-04471
- **FILM NUMBER:** 251500211

**BUSINESS ADDRESS:**
- **STREET 1:** 201 MERRITT 7
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06851
- **BUSINESS PHONE:** 2038495216

**MAIL ADDRESS:**
- **STREET 1:** 201 MERRITT 7
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06851

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HALOID XEROX INC
- **DATE OF NAME CHANGE:** 19730813

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (date of earliest event reported): November 13, 2025
![LOGO](g119538g1119203713820.jpg)

## XEROX HOLDINGS CORPORATION

## XEROX CORPORATION

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| New York | 001-39013 | 83-3933743 |
| New York | 001-04471 | 16-0468020 |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |

---

#### 401 Merritt 7

#### Norwalk, Connecticut

#### 06851-1056

#### (Address of principal executive offices) (Zip Code)
(203) 849-5216

#### (Registrant's telephone number, including area code)

#### Not applicable

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading<br>Symbol | Name of each exchange<br>on which registered |
| Xerox Holdings Corporation Common Stock, $1.00 par value | XRX | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

---

| | | | |
|:---|:---|:---|:---|
| Xerox Holdings Corporation |  | Xerox Corporation |  |
| Emerging growth company | ☐ | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Xerox Holdings Corporation ☐ Xerox Corporation ☐

------

#### Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 13, 2025, Xerox Holdings Corporation ("Xerox Holdings") and Xerox Corporation ("Xerox Corp" and, together with Xerox Holdings, the "Company") appointed Chuck Butler, the Company's Chief Business Services Officer, to serve as its new Chief Financial Officer, effective December 3, 2025, to succeed Mirlanda Gecaj. The Company thanks Ms. Gecaj for her leadership and service and wishes her well in her future endeavors.

Mr. Butler, 51, joined the Company on July 1, 2025 following the acquisition of Lexmark International II, LLC ("Lexmark"), where he served as senior vice president and chief financial officer and head of global business services from 2020 until the acquisition date. Mr. Butler will continue to lead the Company's business services in this consolidated role.

There are no family relationships between Mr. Butler and any of the Company's directors or executive officers, and there is no arrangement or understanding between Mr. Butler or any other person and the Company or any of its subsidiaries pursuant to which he was appointed as an officer of the Company. There are no transactions between Mr. Butler or any of his immediate family members and the Company or any of its subsidiaries that would be required to be reported under Item 404(a) of Regulation S-K.

With respect to Ms. Gecaj, conditional upon her entering into a General Release and Non-Competition Agreement (the "Release Agreement") with the Company, substantially in the form attached hereto as Exhibit 10.1, which contains customary non-disparagement obligations, as well as non-competition and non-solicitation covenants that will apply for 24 months following December 2, 2025 (the "Separation Date") and a general cooperation covenant that survives for 36 months following the Separation Date, Ms. Gecaj will be entitled to continued vesting on a prorated basis of all outstanding time-based and performance-based restricted stock units held by her as of the Separation Date through December 2, 2026. Ms. Gecaj is also entitled to receive severance benefits under the Company's Officer Severance Program, which was filed with the Securities and Exchange Commission as Exhibit 10(a) to Xerox's Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

#### Item 7.01 Regulation FD Disclosure.
On November 19, 2025, the Company issued a press release announcing the management changes described herein. A copy of this press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K, and the text of such press release is incorporated herein by reference.

None of the information furnished in this Item 7.01 will be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor will it be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended.

------

#### Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 10.1 | [Form of General Release and Non-Competition Agreement](d119538dex101.htm) |
| 99.1 | [Press Release, dated November 19, 2025](d119538dex991.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

---

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signatures for each undersigned shall be deemed to relate only to matters having reference to such company and its subsidiaries.

---

| | | |
|:---|:---|:---|
|  | XEROX HOLDINGS CORPORATION | XEROX HOLDINGS CORPORATION |
| Date: November 19, 2025 | By: | /s/ Flor M. Colón |
|  | Name: | Flor M. Colón |
|  | Title: | Secretary |
|  | XEROX CORPORATION | XEROX CORPORATION |
| Date: November 19, 2025 | By: | /s/ Flor M. Colón |
|  | Name: | Flor M. Colón |
|  | Title: | Secretary |

---

## Exhibit 10.1

**Exhibit 10.1**![LOGO](g119538g1119210710160.jpg)

**Officer Name: Mirlanda Gecaj** 

**Officer Title: Executive Vice President and Chief Financial Officer** 

**Employee No.: ______________** 

**Separation Date: December 2, 2025** 

**Separation and General Release and Agreement** 

**Date provided to Officer: November __, 2025** 

In consideration of the covenants and other promises made herein, including the severance payments and benefits set forth in Exhibit A (collectively the "Severance Benefits"), and intending to be legally bound, Mirlanda Gecaj ("I" or "Gecaj"), hereby agrees as follows with respect to her mutually agreed upon separation from employment with Xerox on December 2, 2025 (the "Separation Date"):

1. I release Xerox from all the claims described in this General Release and Non-Competition Agreement. For purposes of this General Release, "Xerox" or the "Company" refers to Xerox Corporation, Xerox Holdings Corporation, and their affiliates, and for purposes
of the Agreement's release and non-disparagement provisions, includes Xerox's employees, directors, officers, agents, stockholders, subsidiaries, affiliates, successors, assigns, and the Xerox
employee benefit plans in which I either am now or have been a participant, and the trustees, administrators, successors, agents and assigns of those plans.

2. I release Xerox from any and all claims, other than the Severance Benefits, even if I do not know about the
claim at this time, based on anything that has occurred prior to the date I sign this General Release. For example, I release Xerox from any claims based on all laws, including but not limited to the following (all laws as currently amended):

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Age Discrimination in Employment Act of 1967 (ADEA) (which prohibits discrimination on the basis of age) | Equal Pay Act of 1963 |
| &nbsp;&nbsp;&nbsp;Older Workers' Benefit Protection Act of 1990 (OWBPA) | Fair Labor Standards Act of 1938 |
| &nbsp;&nbsp;&nbsp;Title VII of the Civil Rights Act of 1964 | Employee Retirement Income Security Act of 1974 (ERISA), other than my right to receive any accrued benefit to which I am entitled under a Xerox ERISA plan, in accordance with the terms of such plan |
| &nbsp;&nbsp;&nbsp;Civil Rights Acts of 1866, 1870, 1871 and 1991 | Worker Adjustment and Retraining Notification Act of 1989 |
| &nbsp;&nbsp;&nbsp;Americans with Disabilities Act of 1990 | Uniformed Services Reemployment Rights Act of 1994 |
| &nbsp;&nbsp;&nbsp;Rehabilitation Act of 1973 | Vietnam Era Veteran's Readjustment Assistance Act of 1974 |
| &nbsp;&nbsp;&nbsp;Family and Medical Leave Act of 1993 |  |

---

3. I also release Xerox from any existing or potential claims based on the laws of the states where I am employed
and reside, such as state fair employment practice and wage laws or any other law, regulations or collective agreements concerning employment. I release Xerox from all claims arising out of the offer of employment to me by Xerox, the hiring of me by
Xerox, my compensation, any employment contract between Xerox and me, and any promises made by Xerox regarding future employment, in each case, other than the Severance Benefits. I also release Xerox from all claims for punitive or compensatory
damages, costs or attorney's fees. For the avoidance of doubt, I am not releasing any claims to the Severance Benefits. **I also agree that I will not bring or participate in any class, collective, or representative action, as a plaintiff or class member, against Xerox which asserts, in whole or in part, any claims(s) which arose through the date I sign this Agreement, whether or not such claims are specifically covered by this Agreement. I further agree that if I am included within any class, collective, or representative action I will take all necessary steps to opt-out of the action or refrain from opting in. Notwithstanding the foregoing, I do not surrender my right to participate in a legal action where my interest arises solely by virtue of my status as a Xerox shareholder.** 

4. I understand and agree that this General Release and Xerox's agreement to provide the Severance Benefits
to me should not be construed, in any way, as an admission by Xerox of any wrongdoing or liability to me.

------

5. I understand that nothing contained in this General Release limits my ability to file a charge or complaint
with any state or federal government agency about potential violations of laws or regulations, including but not limited to the Securities and Exchange Commission and the EEOC or a comparable state or local agency. I further understand that this
General Release does not limit my ability to communicate with any governmental agency or otherwise participate in any investigation or proceeding that may be conducted by any governmental agency, including providing documents or other information,
without notice to Xerox. This General Release does not limit my right to receive an award for information provided to any federal governmental agency related to a possible violation of the federal securities or occupational safety laws; however, I
agree to waive my right to recover monetary damages in any charge or complaint filed by me, or lawsuit filed by anyone else on my behalf, related to any other violation of law or regulation. Notwithstanding any provision of this Agreement to the
contrary, I do not release, and this Agreement does not cause me to release: (i) any rights to indemnification or advancement pursuant to any Indemnification Agreement Xerox and I have mutually executed, applicable law, the bylaws of Xerox or
any applicable directors' and officers' insurance;(ii) any of my rights as a shareholder; and (iii) my rights under the Agreement. I acknowledge and confirm that I continue to be bound by the terms of the Mutual Arbitration
Agreement for Current Employees, effective May 15, 2023 (the "MAA").

6. Except as provided in paragraph 5 above and the MAA, I agree and covenant not to file any suit, charge or
complaint against Xerox in any court with regard to any of the claims released in paragraphs 2 and 3. I further represent that no such claims, complaints, charges, or other proceedings are pending in any court, administrative agency, commission or
other forum relating directly or indirectly to my employment with Xerox. Notwithstanding the foregoing, this General Release does not prohibit me from challenging or seeking a determination in good faith of the validity of this General Release under
the Age Discrimination Employment Act and does not impose any condition precedent, penalty, or other limitation for doing so unless specifically authorized by federal law.

7. Xerox advises me as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **TO CONSULT WITH AN ATTORNEY OF MY CHOOSING TO COUNSEL ME AS TO MY RIGHTS BEFORE I SIGN THIS GENERAL RELEASE;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **TO TAKE SUFFICIENT TIME TO DECIDE WHETHER TO SIGN THIS GENERAL RELEASE. I HAVE AT LEAST TWENTY-ONE (21) DAYS FROM THE DATE THIS GENERAL RELEASE IS PROVIDED TO ME TO CONSIDER IT BEFORE I SIGN AND RETURN IT TO XEROX;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** **THAT EVEN AFTER I SIGN AND RETURN THIS RELEASE TO XEROX, I WILL HAVE seven (7) DAYS THEREAFTER TO CHANGE MY MIND AND REVOKE MY RELEASE BY ASKING XEROX FOR ITS RETURN.** 

8. I understand and agree that this General Release waives all claims I may have at the time I sign it, including
claims I do not then know about or suspect. I further understand and acknowledge that California Civil Code, Section 1542 provides: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOROR RELEASING PARTY DOES NOT KNOW OR SUSPECT
EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE GENERAL RELEASE, AND THAT IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY." I waive any rights I may have under that Code
section, if applicable, or any other similar state or federal statute or common law principle of similar effect.

**NON-COMPETITION WITH XEROX BUSINESS** 

9. In order to settle existing or potential claims regarding any non-compete undertaking I understand and agree that this agreement supersedes all prior agreements or understandings, written or oral, between Xerox and me. I commit that, for a period of twenty-four
(24) months from the Resignation Date and during such period (the "Restricted Period"), I will not, directly or indirectly, solicit persons or companies that have been customers of Xerox during the twelve (12) months prior to
the Separation Date to: (i) establish commercial relationships concerning products or services that compete with those manufactured or marketed by Xerox as of the Separation Date; or (ii) solicit, induce or encourage such customers to
reduce or terminate their established business relationships with Xerox.

**NON-SOLICITATION OF EMPLOYEES** 

10. During the Restricted Period, I will not, individually or on behalf of any third party, solicit for hire,
induce, recruit, encourage to terminate employment with Xerox, or hire, any person who is a current employee of Xerox at any time during the Restricted Period or who was an employee of Xerox during the six (6)-month period prior to the Separation
Date.

------

**COOPERATION OBLIGATIONS** 

11. For a period of thirty-six (36) months from the Separation Date, I
agree that, without additional compensation (other than reimbursement for reasonable out-of-pocket expenses), I will cooperate with Xerox during the course of all
proceedings arising out of Xerox's business about which I have knowledge or information. For purposes of this Agreement, (a) "proceedings" includes internal investigations, administrative investigations, or court or arbitration
proceedings, and lawsuits (including pre-trial discovery and trial testimony) and (b) "cooperate" includes (i) being reasonably available for interviews, meetings, depositions, hearings and/or
trials without the need for subpoena or assurances by Xerox, (ii) providing any and all documents in my possession that relate to the proceeding, and (iii) providing assistance in locating any and all relevant notes and/or documents
relevant to any proceedings.

**NON-DISPARAGEMENT OBLIGATIONS** 

12. Both parties agree that neither party will intentionally make, or intentionally cause any person to make,
disparaging remarks about the other party.

**DISPUTE RESOLUTION** 

13. Except as provided in the MAA with respect to claims covered thereunder, the parties agree that all other
claims between the parties shall be resolved exclusively by binding arbitration pursuant to the Federal Arbitration Act (" <u>FAA</u> "), and the laws of the State of New York (except to the extent preempted by the FAA). The parties agree
that any dispute will be arbitrated in New York, New York or other location mutually agreed to by the parties, in accordance with the Employment Arbitration Rules & Procedures of Judicial Arbitration and Mediation Services, Inc.
("JAMS") including rules permitting each of the parties to seek expedited relief in arbitration before a single arbitrator. The parties agree that they shall split equally those expenses unique to arbitration unless prohibited by
applicable law, and that each party shall bear each party's own attorneys' fees and legal costs, unless otherwise ordered by the arbitrator. The parties agree that the arbitrator shall apply the substantive law (and the law of remedies,
if applicable) of the State of New York to the claim(s) asserted, except to the extent preempted by ERISA or other federal law. The parties agree to file any demand for arbitration within the time limit established by the applicable statute of
limitations for the asserted claims, and that failure to demand arbitration within the prescribed time period shall result in waiver of those claims. The parties agree that this arbitration agreement shall not apply to any claim that by law may not
be arbitrated. I UNDERSTAND AND AGREE THAT BY AGREEING TO THE EXCLUSIVE RESOLUTION OF CLAIMS THROUGH BINDING ARBITRATION IN ACCORDANCE WITH THIS SECTION, I AM WAIVING MY RIGHTS TO BRING SUCH CLAIMS IN COURT, INCLUDING ANY RIGHT TO A JURY TRIAL. I
UNDERSTAND AND AGREE THAT MY WAIVER OF MY RIGHTS TO BRING SUCH CLAIMS IN COURT INCLUDES, WITHOUT LIMITATION, MY WAIVER OF MY RIGHT TO BRING ANY CLAIMS FOR BENEFITS IN FEDERAL DISTRICT COURT. The parties agree that nothing in this Agreement is
intended to limit the right of either party to seek equitable relief in a court of competent jurisdiction, including Xerox's right to seek equitable relief if I breach or threaten to breach any of the provisions in Section 9, 10 or 12 of
this Agreement. The parties agree that the rights and remedies provided herein are cumulative, and the exercise of any right or remedy, whether pursuant hereto, to any other agreement, or to law, shall not preclude or waive the right to exercise any
or all other rights and remedies. The parties agree that arbitral award determination shall be final and binding upon the parties.

***[INTENTIONALLY LEFT BLANK]***

------

**ACKNOWLEGEMENT** 

14. I acknowledge that I have carefully read and fully understand all of the terms and provisions of this
Agreement, I have had a reasonable period of time to review it, I have had the right to consult with an attorney or other advisor of my choosing about the terms of this Agreement and the consequences of executing it, and I am knowingly and
voluntarily signing this Agreement because it is satisfactory to me in all respects and settles all existing and potential claims.

15. Pending approval of the Compensation and Human Capital Committee of the Board of Directors, I consent to
amending all my RSU and PSU award agreements outstanding on the Separation Date to provide continued vesting of all unvested RSUs and PSUs throughout my Severance Compensation Payment Period.

16. This Agreement constitutes the complete and final agreement between the parties regarding the subject matter
hereof and supersedes all prior agreements or understandings, written or oral, between the parties regarding the subject matter hereof, including my participation in the Xerox Officer Severance Program, and the Amended and Restated Severance Letter
Agreement Providing Certain Benefits Upon Termination of Employment Following a Change in Control entered into between Xerox and me, dated May 16, 2022; provided, however, that nothing contained herein shall supersede the terms and conditions
of any benefit plan, nondisclosure, confidentiality, or indemnification agreement, entered into prior to the Separation Date, including any Confidentiality or Proprietary Information Agreement, or, any Indemnification Agreement entered into between
Xerox and me, all which are incorporated herein by reference and shall survive any termination of the employment relationship between the parties.

17. This Agreement may be executed in one or more counterparts, each of which shall be an original and all of
which, taken together, shall constitute one and the same instrument. Each party may deliver its executed counterpart by hand, courier, mail, or in pdf format by email.

---

| |
|:---|
| **XEROX CORPORATION** |
| By: |
| **Acknowledged and Agreed to** |
| By: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Officer Signature |
| Officer Name (Please Print) |
| Xerox Employee Number |

---

Date signed and returned to Xerox: <br> To be filled in by officer

------

**EXHIBIT A** 

**Severance Benefits** 

Gecaj shall be entitled to the following:

1. <u>Cash Payments</u>  **<u>.</u>** <u> </u> Pursuant to the terms of the Xerox Corporation Officer Severance
Program, as amended and restated effective January 1, 2023, Gecaj shall be entitled to severance equal to $____________, to be paid in twelve (12) substantially equal monthly payments commencing December 31, 2025 and terminating on
December 31, 2026,provided that the final severance payment shall include compensation only for the two (2) days of the December 2026 severance period. All such payments shall be in accordance with Xerox's regular payroll practices.

In addition, Gecaj is entitled to a cash payment in March 2026 equal to the value of Gecaj's 2025 short term incentive bonus (MIP) as prorated through the Separation Date. The actual value of Gecaj's 2025 MIP and its payment are both dependent upon final 2025 MIP plan results and the Compensation and Human Capital Committee's 2025 MIP approval, including the Committee's ability to apply negative discretion.

2. <u>Benefits Continuation Coverage</u>: During the 12-month period
following the Separation Date, Gecaj shall be entitled to continued medical, dental and vision and life coverage for herself and her dependents at the level of coverage in effect immediately prior to the Separation Date. Gecaj must timely elect
benefit continuation when notified to do so (medical, dental, and vision will be through COBRA continuation). Gecaj will be charged for such coverage at the same rates charged to active Xerox employees who elect similar coverage, subject to any rate
increase applicable to active employees. Gecaj will receive an invoice each month for the portion of the premium due. In the event of any initial overpayment for such coverage, Gecaj's next invoice will be adjusted to reflect any credit due.

3. <u>Equity</u>: Subject to the terms of the 2024 Equity and Performance Incentive Plan, as amended, and
associated award agreements, Gecaj and Xerox mutually agree, and the Compensation and Human Capital Committee of the Board of Directors has approved, amending all outstanding award agreements to provide for continued vesting through December 2,
2026. An illustration of the continued vesting of equity is attached as Exhibit B.

4. <u>Financial Planning Benefit</u>: During the 12-monht period following
the Separation Date, Gecaj shall be entitled to continued participation in the executive financial planning program (currently through Ayco).

## Exhibit 99.1

**Exhibit 99.1** 

**FOR IMMEDIATE RELEASE** 

**Xerox Appoints Chuck Butler as Chief Financial Officer** 

**Norwalk, Conn. — Nov.19, 2025 —** Xerox Holdings Corporation (NASDAQ: XRX) today announced the appointment of Chuck Butler as Chief Financial Officer, effective December 3, 2025. As part of the company's evolving leadership structure and following a mutual decision, Mirlanda Gecaj will be departing Xerox to pursue new opportunities. Her last day will be December 2.

"Mirlanda has played a meaningful role in guiding the company through an important period of transformation," said Steve Bandrowczak, chief executive officer of Xerox. "On behalf of the Board and leadership team, I thank her for her leadership and contributions and wish her the very best in the future."

Mr. Butler brings extensive financial and operational expertise to the role and will retain leadership of the Global Business Services organization. His appointment reflects Xerox's ongoing effort to align its leadership structure with the company's strategic priorities and strengthen operational integration across the enterprise. Prior to joining Xerox, he served as Senior Vice President and Chief Financial Officer at Lexmark, where he helped guide the company through its acquisition by Xerox in July 2025.

"Chuck is a trusted leader with deep expertise and a strong record of driving operational excellence," said Steve Bandrowczak, chief executive officer of Xerox. "As we continue executing Reinvention, Chuck's experience leading large-scale organizational change and his focus on empowering teams will be invaluable in advancing our next phase of growth and performance."

Mr. Butler will report directly to CEO Bandrowczak. His appointment reinforces the company's continued focus on strengthening its leadership team, driving operational performance, and delivering long-term value for clients, employees, and shareholders.

**Forward-Looking Statement** 

This presentation and other written or oral statements made from time to time by management contain "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "would", "could", "can", "should", "targeting", "projecting", "driving", "future", "plan", "predict", "may" and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. These statements reflect management's current beliefs and assumptions and are subject to a number of other factors that may cause actual results to differ materially.

Such factors include but are not limited to: applicable market conditions; global macroeconomic conditions, including inflation, slower growth or recession, delays or disruptions in the global supply chain, higher interest rates, and wars and other conflicts, including the current conflict between Russia and Ukraine; our ability to succeed in a competitive environment, including by developing new products and service offerings and preserving our existing products and market share as well as repositioning our business in the face of customer preference, technological, and other change, such as evolving return-to-office and hybrid working trends; failure of our customers, vendors, and logistics partners to perform their contractual obligations to us; our ability to attract, train, and retain key personnel; execution risks around our Reinvention; the risk of breaches of our security systems due to cyber, malware, or other intentional attacks that could expose us to liability, litigation, regulatory action or damage our reputation; our ability to obtain adequate pricing for our products and services and to maintain and improve our cost structure; changes in economic and political conditions, licensing requirements, and tax laws in the United States and in the foreign countries in which we do business; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply with the terms of such contracts and applicable law; interest rates, cost of capital, and access to credit markets; risks related to our indebtedness; the imposition of new or incremental trade protection measures such as tariffs and import or export restrictions; funding requirements associated with our employee pension and retiree health benefit plans; changes in foreign currency exchange rates; the risk that we may be subject to new or heightened regulatory or operation risks as a result of our, or third parties,' use or anticipated use of artificial intelligence technologies; the risk that our operations and products may not comply with applicable worldwide regulatory requirements, particularly environmental regulations and directives and anti-corruption laws; the outcome of litigation and regulatory proceedings to which we may be a party; laws, regulations, international agreements and other initiatives to limit greenhouse gas emissions or relating to climate change, as well as the physical effects of climate change; our ability to successfully integrate the Lexmark business and realize the anticipated benefits thereof, including expected synergies; and other factors that are set forth from time to time in the Company's Securities and Exchange Commission filings, including the combined Annual Report on Form 10-K of Xerox Holdings and Xerox Corporation.

------

These forward-looking statements speak only as of the date hereof or of the date to which they refer, and the Company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events or developments, except as required by law.

**About Xerox Holdings Corporation (NASDAQ: XRX)**

Xerox has been redefining the workplace experience for over a century. As a services-led, software-enabled company, we power today's hybrid workplace through advanced print, digital, and AI-driven technologies. In 2025, Xerox acquired Lexmark—expanding our global footprint, strengthening service capabilities, and equipping us to deliver an even broader portfolio of workplace technologies to our clients. Today, we continue our legacy of innovation to deliver client-centric, digitally driven solutions that meet the needs of a global, distributed workforce. Whether in offices, classrooms, or hospitals, we help our clients thrive in a constantly evolving business landscape.

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**Media Contact**:

Justin Capella, Xerox, +1-203-258-6535, Justin.Capella@xerox.com

<sup>©</sup> 2025 Xerox Corporation. All rights reserved. Xerox<sup>®</sup> is a trademark of Xerox Corporation in the United States and/or other countries.