World Fuel Services amends CEO Kasbar's employment agreement; three-year term through Dec 2025, removes single trigger

WORLD KINECT CORP

Replaces evergreen auto-renew with fixed three-year term ending December 31, 2025; Company may extend with one-year notice.
Base salary of $1M and target bonus of 175% of base salary unchanged from current levels.
Eliminates modified single-trigger change-in-control severance; benefits now contingent on termination without cause or for good reason.
Severance: 2x (base + target) without change in control, 3x after change in control; lump sum of $1.5M or $2.5M payable after restricted period ends.
Restrictive covenants (non-compete, non-solicit) apply during employment and for two years post-termination.

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