CDK Global, Inc. (NASDAQ:CDK) 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 September 7, 2017, CDK Global, Inc. (the “Company”) adopted the Amended and Restated Corporate Officer Severance Plan (the “Severance Plan”). The Severance Plan amends the existing Corporate Officer Severance Plan by providing for a 12-month continuance of Benefit Plans for all Eligible Executives following termination of employment and subject to the Conditions. The Company and the Eligible Executive will share the cost of the continuation of the Benefit Plans in the same proportion as the costs are shared by similarly situated employees of the Company. Defined terms used, but not defined herein, have the meaning ascribed to such terms in the Severance Plan.
The foregoing summary of certain provisions of the Severance Plan is not meant to be complete or exhaustive and is qualified in its entirety be reference to the Severance Plan, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
CDK Global, Inc. ExhibitEX-10.1 2 exh_101.htm EXHIBIT 10.1 Exhibit 10.1 CDK Global,…To view the full exhibit click here
About CDK Global, Inc. (NASDAQ:CDK)
CDK Global, Inc. provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. Through its Advertising North America segment, the Company provides advertising solutions, including management of digital advertising spend, for OEMs and automotive retailers. As of June 30, 2016, through its CDK International segment, it provided technology-based solutions similar to the retail solutions provided in its Retail Solutions North America segment in approximately 100 countries outside of the United States and Canada.
