TELEPHONE AND DATA SYSTEMS, INC. (NYSE:TDE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Telephone and Data Systems, Inc. (“TDS”) previously filed a Current Report on Form 8-K dated February 23, 2018, which disclosed, among other things, that Douglas W. Chambers would be appointed as Senior Vice President – Finance and Chief Accounting Officer effective May 18, 2018. This Form 8-K amends and supplements the initial Form 8-K filing to paragraphs (c)(3) and (e) of Item 5.02, as follows:

TDS entered into a letter agreement (“Letter Agreement”) with Douglas W. Chambers in connection with his appointment as Senior Vice President – Finance and Chief Accounting Officer. Subject to the conditions set forth in the Letter Agreement, Mr. Chambers will be eligible to receive, among other things, (i) an annual base salary of $360,000 per year; (ii) an annual bonus program target of 45% of his annual base salary; and (iii) an annual equity award target of 110% of his annual base salary.

The foregoing brief description is qualified by reference to the summary of such agreement attached which is incorporated by reference herein as Exhibit 10.1

Item 9.01. Financial Statements and Exhibits

(d) Exhibits: