Common use of Compensation Programs Clause in Contracts

Compensation Programs. (i) SpinCo agrees that, to the extent that SpinCo’s proxy statement for the 2027 annual meeting of its stockholders or Form 10-K for the fiscal year ended December 31, 2026 discusses compensation programs of RemainCo, it shall substantially conform such discussion to the corresponding discussion in RemainCo’s proxy statement and/or Form 10-K for the applicable period; and (ii) RemainCo agrees that, to the extent that RemainCo’s proxy statement for the 2027 annual meeting of its stockholders or Form 10-K for the fiscal year ended December 31, 2026 discusses compensation programs of SpinCo, it shall substantially conform such discussion to the corresponding discussion in SpinCo’s proxy statement and/or Form 10-K for the applicable period. Nothing in this Section 5.1 shall require any Party to violate any agreement with any unaffiliated third party regarding the confidentiality of confidential and proprietary Information relating to that third party or its business; provided, however, that in the event that a Party is required under this Section 5.1 to disclose any such Information, such Party shall use commercially reasonable efforts to seek to obtain such third party’s written consent to the disclosure of such Information.

Appears in 3 contracts

Sources: Separation and Distribution Agreement (Vylor Inc.), Separation and Distribution Agreement (EIDP, Inc.), Separation and Distribution Agreement (Vylor Inc.)