Amkor Technology Inc.

09/28/2021 | Press release | Distributed by Public on 09/28/2021 15:04

Management Change/Compensation (Form 8-K/A)

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


As previously disclosed, on September 14, 2021, John C. Stone informed the Company that he intends to retire on March 31, 2022 (the "Retirement Date").

On September 27, 2021, the Company and Mr. Stone finalized the terms of the Agreement. Under the Agreement, Mr. Stone will receive: (i) continued base salary for a period of 15 months after the Retirement Date; (ii) a pro rata bonus for 2022 under the Amkor Technology, Inc. Amended and Restated Executive Incentive Bonus Plan (the "Bonus Plan"), if earned, when payments are made to participants generally under the Bonus Plan; (iii) costs of outplacement services for up to six months; and (iv) a subsidy for 15 months of COBRA continuation coverage under the Company's group health insurance plan after the Retirement Date. Mr. Stone's vested and unvested stock options and unvested shares of time-based restricted stock and performance-vested restricted stock will be treated in accordance with the terms of the applicable award agreements. The Agreement also contains a general release by Mr. Stone and confidentiality, non-competition, non-solicitation, non-disparagement, and other customary provisions.