secwatch.observer — SEC 8-K summary
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Issuer:     TEREX CORP (TEX)
CIK:        0000097216
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0000097216-23-000223
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terex signs consulting agreement with retiring CEO Garrison for $540K over 6 months
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- John L. Garrison Jr. retires as CEO Jan 1, 2024; consulting runs through June 30, 2024.
- Consulting fee of $90K/month for 6 months, total $540K, paid monthly in arrears.
- Services include business development, customer relationships, executive transition.
- Agreement includes confidentiality, non-compete, and cooperation clauses.
- Garrison was CEO for over 8 years and Chairman for over 5 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/97216/000009721623000223/0000097216-23-000223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/97216/000009721623000223/tex-20231214.htm
  HTML page:      https://secwatch.observer/filing/0000097216-23-000223

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