Kyndryl adopts Annual Incentive Plan, sets exec cash bonus targets, amends severance plan

Kyndryl Holdings, Inc.

Target cash bonus for transition period (Jan-Mar 2022): 200% of base salary for CEO Schroeter and Group President Keinan; 125% for CFO Wyshner, GC Sebold, CHRO Charbonnier.
Payout ranges 0%-200% of target based equally on revenue and Adjusted EBITDA, with +/-10% adjustment for backlog and advisory signings.
Severance plan amended: 24-month base salary (Schroeter) and 18-month (others) payable in lump sum rather than salary continuation.
Schroeter's health coverage continuation reduced from 24 to 18 months on covered termination.
Annual meeting set for July 28, 2022; stockholder proposal deadline March 7, 2022.

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