Kelly Services and Dinette Koolhaas enter termination agreement with severance and transaction-linked payment
KELLY SERVICES INC
Koolhaas leaves March 31, 2024 after 15+ years; will assist Gi Group transaction through a transition period.
Severance: 12 months base salary, 100% annual incentive, plus other benefits; total guaranteed minimum CHF 2,018,890 if sum of severance and 1% of purchase price is less.
Additional payment equal to 1% of the Purchase Price for her support of the transaction; payment within 3 business days after closing.
Non-competition and non-solicitation clauses extinguished by mutual agreement; mutual release of claims.
Termination is conditional on transaction closing; if transaction does not occur, employment continues per original agreement.
On January 2, 2024, Kelly Services Outsourcing and Consulting Group Sàrl, a wholly-owned subsidiary of the Company (“Kelly Services OCG”), and Ms. Koolhaas entered into a Termination Agreement, terminating her employment contract with Kelly Services OCG (the “Termination Agreement”) as of March 31, 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Dinette Koolhaas was terminated as senior vice president and president of Kelly International at KELLY SERVICES INC.
Action
terminated
Role
senior vice president and president of Kelly International
Exact text from the filing
On January 2, 2024, Kelly Services Outsourcing and Consulting Group Sàrl, a wholly-owned subsidiary of the Company (“Kelly Services OCG”), and Ms. Koolhaas entered into a Termination Agreement, terminating her employment contract with Kelly Services OCG (the “Termination Agreement”) as of March 31, 2024.
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