Allison Transmission adopts Executive Change in Control & Severance Plan for named officers

Allison Transmission Holdings Inc

Plan provides severance for qualifying termination: Tier 1 execs get 1x base+bonus; Tier 2 get 1x base+prorated bonus; plus 12 months COBRA.
Upon change-in-control qualifying termination, Tier 1 execs receive 2x base+bonus, 18 months COBRA plus 6-month taxable payment, and accelerated equity vesting.
Named participants include CFO G. Frederick Bohley, SVP Marketing John M. Coll (Tier 1), and VP GC Eric C. Scroggins (Tier 2/1 for CIC).
Participants waive prior severance agreements and must sign release, with non-compete, non-solicitation, and confidentiality covenants.

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