other material
confidence high
sentiment neutral
materiality 0.40
Group 1 Automotive amends severance for executive Daryl Kenningham; 1.5x salary + bonus on qualified termination
GROUP 1 AUTOMOTIVE INC
- Qualifying termination: 1.5x base salary and target bonus, 18 months COBRA, pro-rated bonus.
- If termination within 6 months of a Corporate Change: multiple increases to 2.0x, COBRA extends to 24 months.
- Severance paid in lump sum on first day of seventh month post-separation, subject to covenants and release.
- All other terms of the Incentive Agreement remain unchanged.
- This amendment restructures severance benefits; no change in role or employment status.