TDS discloses separation terms for former TDS Telecom CEO Butman; $2M severance

TELEPHONE & DATA SYSTEMS INC /DE/

James Butman stepped down as TDS Telecom President/CEO on June 9, served as Senior Advisor through July 1, 2025.
Transition agreement provides $2,000,000 lump sum cash payment and title to company vehicle.
Butman also receives prorated 2025 target bonus of $343,710 under the Executive Officer Bonus Program.
Agreement includes post-termination confidentiality, non-disparagement, and cooperation covenants.
Butman executed the Transition Agreement on July 2, 2025; severance payable within 60 days.

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