Aflac Incorporated (NYSE:AFL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 6, 2017, American Family Life Assurance Company of Columbus (“Aflac”), a wholly owned subsidiary of Aflac Incorporated (the “Company”), entered into a separation agreement (the “Separation Agreement”) with Paul S. Amos, II, President of Aflac and a director of the Company. to the terms of the Separation Agreement, Mr. Amos resigned from all positions with the Company and all of its subsidiaries and other affiliates, effective as of July 1, 2017, and will receive an aggregate payment of $3,404,494.00, which is equal to the sum of thirty (30) months of base salary continuation, an annual incentive award with respect to fiscal year 2017, and the cost of eighteen (18) months of premiums under the Company’s health insurance plan. Mr. Amos will be subject to, among other things, certain confidentiality, non-compete and non-solicitation obligations.
About Aflac Incorporated (NYSE:AFL)
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S. Aflac offers insurance policies in Japan and the United States that provide a layer of financial protection against income and asset loss. Aflac Japan sells voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans and annuities. Aflac U.S. sells supplemental insurance products, including products designed to protect individuals from depletion of assets, such as accident, cancer, critical illness/care, hospital intensive care, hospital indemnity, fixed-benefit dental, and vision care plans and loss-of-income products.
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