Item 9B. Other Information
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Item 9B. Other Information
On February 12, 2019, the Management Development and Compensation Committee of the Board of Directors of the Company approved an amendment to certain confidentiality, non-solicitation and non-competition agreements (the Non-Competition Agreements), including those with the Company’s named executive officers. The amendment permits the applicable executive to elect out of the executive alternative work arrangement contemplated by his or her Non-Competition Agreement, which, in the absence of an election, applies following certain qualifying terminations of employment. If an executive elects out of the executive alternative work arrangement, in consideration for such election, the non-competition covenant set forth in his or her Non-Competition Agreement will be extended for an additional three months beyond the period specified therein.
Additional information regarding the executive alternative work arrangement is included in the Company’s annual proxy statement, dated April 27, 2018.
The form of amendment to the Non-Competition Agreements is filed as Exhibit 10.22 to this Annual Report on Form 10-K. The foregoing summary is qualified by reference thereto.
PART III
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