CNXC 8-K
Concentrix Corp (CNXC)
8-K
2026-07-24
For: 2026-07-23
View Original
Added on
July 24, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): July 23, 2026
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(800 ) 747-0583
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 23, 2026, the Board of Directors (the “Board”) of Concentrix Corporation (the “Company”) adopted an Amended and Restated Executive Severance Plan (the “Amended Plan”) to amend and replace the Company’s Change of Control Severance Plan. The Amended Plan was adopted following a regular, annual review of the Company’s executive compensation program by the Compensation Committee of the Board and based on input from the Compensation Committee’s independent compensation consultant to align the Company’s severance program for executive officers more closely with market practice.
In particular, the Amended Plan updates severance for an executive officer who is terminated for a reason other than cause, disability, or death within two months before or 12 months after a change of control (including a voluntary termination because of a reduction in salary or position or a relocation) from (x) salary continuation (based on the individual’s past three years’ compensation) for a period of 18 to 24 months based on years of service to (y) an amount equal to two times the sum of the executive officer’s base salary and target bonus, less applicable withholding. The Amended Plan also adds (i) severance for executive officers who are terminated for a reason other than cause, disability, or death, outside of two months before or 12 months after a change of control, in an amount equal to the sum of the executive officer’s base salary and target bonus, less applicable withholding, and (ii) a “best-net” Section 280G cut-back provision.
The foregoing summary of the Amended Plan is qualified in its entirety by reference to the full text of the Amended Plan, a copy of which is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |||||||
| 10.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 24, 2026 | CONCENTRIX CORPORATION | |||||||
| By: | /s/ Jane C. Fogarty | |||||||
Jane C. Fogarty Executive Vice President, Legal | ||||||||
Exhibit 10.1
CONCENTRIX CORPORATION
AMENDED AND RESTATED EXECUTIVE SEVERANCE PLAN
Effective as of December 1, 2020, as amended July 23, 2026
Concentrix Corporation (including any “Successor Entity” as defined in Section 5 and, together with its direct and indirect subsidiaries as the context may require, the “Company”) adopts this Amended and Restated Executive Severance Plan (this “Plan”) with the intent of providing severance benefits to certain executive officers whose employment with the Company terminates under certain circumstances set forth herein and assuring that the Company will have the benefit of continuity of management in the event of any actual or threatened change of control. Certain capitalized terms used in this Plan are defined in Section 1 below.
1. Definitions of Terms. The following terms referred to in this Plan shall have the following meanings:
(a) Average Compensation. “Average Compensation” means the average of a Participant’s gross annual compensation, exclusive of any income relating to Company stock, as reported on the Participant’s W-2 for the three most recent years ending on or before the Date of Termination (excluding any such year in which the Participant was not employed, and annualizing compensation for any such year in which Participant was employed a partial year). “Average Monthly Compensation” means one-twelfth (1/12) of Average Compensation.
(b) Base Salary. “Base Salary” means the amount a Participant is entitled to receive as wages or salary on an annualized basis, excluding all bonus, overtime, and incentive compensation, payable by the Company (including its subsidiaries) as consideration for the Participant’s services, provided that following a Change of Control, “Base Salary” means the higher of (x) the Participant’s Base Salary as in effect immediately prior to the Change of Control and (y) the Participant’s highest Base Salary in effect at any time thereafter up to the date of the Involuntary Termination.
(c) Cause. “Cause” means (i) commission of a felony, an act involving moral turpitude, or an act constituting common law fraud, and which has a material adverse effect on the business or affairs of the Company or its affiliates or stockholders; (ii) intentional or willful misconduct or refusal to follow the lawful instructions of the Board of Directors of the Company (the “Board”); or (iii) intentional breach of Company confidential information obligations which has an adverse effect on the Company or its affiliates or stockholders. For these purposes, no act or failure to act shall be considered “intentional or willful” unless it is done, or omitted to be done, in bad faith without a reasonable belief that the action or omission is in the best interests of the Company.
(d) Change of Control. “Change of Control” means the occurrence of any of the following events:
(i) A change in the composition of the Board occurs, as a result of which fewer than one-half of the incumbent directors are directors who either:
(A) Had been directors of the Company on the “look-back date” (as defined below) (the “original directors”); or
(B) Were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved (the “continuing directors”); or
(ii) Any “person” (as defined below) who by the acquisition or aggregation of securities, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as
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amended), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative beneficial ownership of the Company’s securities by any person resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until such person increases in any manner, directly or indirectly, such person’s beneficial ownership of any securities of the Company; or
(iii) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity; or
(iv) The sale, transfer or other disposition of all or substantially all of the Company’s assets.
For purposes of subsection (d)(i) above, the term “look-back” date shall mean the date 24 months prior to the date of the event that may constitute a Change of Control.
For purposes of subsection (d)(ii) above, the term “person” shall have the same meaning as when used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended, but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or a parent or subsidiary of the Company and (2) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company.
Any other provision of this Section 1(d) notwithstanding, a transaction shall not constitute a Change of Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.
(e) Code. “Code” means the Internal Revenue Code of 1986, as amended.
(f) Excise Tax. “Excise Tax” means, collectively, (i) the tax imposed by Code Section 4999 by reason of being “contingent on a change in ownership or control” of the Company, within the meaning of Code Section 280G, (ii) any similar tax imposed by state or local law, and (iii) any interest or penalties with respect to any tax described in clause (i) or (ii).
(f) Involuntary Termination. “Involuntary Termination” means:
(i) without such Participant’s express written consent, a reduction of the Participant’s title, authority, duties, position or responsibilities relative to the Participant’s title, authority, duties, position or responsibilities in effect immediately prior to such reduction;
(ii) without such Participant’s express written consent, a reduction by the Company of the Participant’s base salary or bonus opportunity as in effect immediately prior to such reduction;
(iii) without such Participant’s express written consent, the relocation of the Participant’s principal place of employment to a facility or a location more than fifty (50) miles from his or her current location;
(iv) without such Participant’s express written consent, any purported termination of the Participant by the Company which is not effected for Cause or by reason of death or disability; or
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(v) the failure of the Company to obtain the assumption of this Plan by any successors contemplated in Section 5 below.
(g) Payment. “Payment” means any payment or benefit in the nature of compensation (within the meaning of Code Section 280G(b)(2)) received or to be received by a Participant or for the benefit of a Participant, whether payable under the terms of this Plan or any other plan, arrangement, or agreement with the Company or an affiliate of the Company.
(h) Target Bonus. “Target Bonus” means the Participant’s target bonus under the Company’s annual cash incentive program applicable to the Participant for the year of termination, provided that if no target bonus has been established for such year under such plan, Target Bonus means the Participant’s target annual cash incentive bonus for the year immediately preceding the year of termination, provided further that following a Change of Control, “Target Bonus” means the higher of (x) the Participant’s Target Bonus immediately prior to the Change of Control, provided that if no Target Bonus has been established for such year under such plan, the year immediately preceding the year in which the Change of Control occurs or (y) Participant’s highest Target Bonus in effect at any time after the Change of Control up to the date of the Involuntary Termination.
(i) Termination Date. “Termination Date” means the effective date of any notice of termination of the Participant’s employment with the Company.
2. Eligibility. Those employees of the Company who (x) are “executive officers” (as defined in Rule 3b-7 under the Securities Exchange Act of 1934, as amended) of the Company or (y) have the title of Executive Vice President, Senior Vice President, Global Vice President or Vice President and whose principal place of employment is in the United States (each, a “Participant”) shall be eligible for benefits, subject to the terms and conditions of the Plan, until the date he or she ceases to be employed in such position by the Company; provided, that a Participant who ceases to be employed by the Company under circumstances giving rise to benefits under the Plan shall continue to be treated as a Participant with respect to such benefits until they have been paid or provided in full.
3. At-Will Employment. Each Participant’s employment is and shall continue to be at-will, as defined under applicable law.
4. Severance Benefits.
(a) Involuntary Termination in Connection with a Change of Control. If a Participant’s employment with the Company terminates as a result of an Involuntary Termination at any time within twelve (12) months after a Change of Control or within two (2) months on or before a Change of Control, and such Participant signs and does not revoke a standard release of claims with the Company in a form acceptable to the Company, then such Participant shall be entitled to the following severance benefits:
(i) in the case of a Participant who is an “executive officer” (as defined in Rule 3b-7 under the Securities Exchange Act of 1934, as amended) of the Company (each, a “Level 1A Participant”), an amount equal to two (2) times the sum of the Participant’s Base Salary and Target Bonus, less applicable withholding;
(ii) in the case of a Participant who is an Executive Vice President of the Company who is not a Level 1A Participant (each, a “Level 1B Participant”), salary continuation for eighteen (18) months at such Participant’s rate of Average Monthly Compensation, plus an additional month for each year of service completed by the Participant in excess of eighteen (18) years, subject to a maximum of twenty-four (24) months of Average Monthly Compensation, less applicable withholding;
(ii) in the case of a Participant who is a Senior Vice President of the Company who is not a Level 1A Participant (each, a “Level 2 Participant”), salary continuation for twelve (12) months at such
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Participant’s rate of Average Monthly Compensation, plus an additional month for each year of service completed by the Participant in excess of twelve (12) years, subject to a maximum of eighteen (18) months of Average Monthly Compensation, less applicable withholding;
(iii) in the case of a Participant who is a Global Vice President or a Vice President of the Company who is not a Level 1A Participant (each, a “Level 3 Participant”), salary continuation for three (3) months at such Participant’s rate of Average Monthly Compensation, plus an additional month for each year of service completed by the Participant in excess of three (3) years, subject to a maximum of twelve (12) months of Average Monthly Compensation, less applicable withholding; and
(iv) reimbursement by the Company of the group health continuation coverage premiums for the Participant and the Participant’s eligible dependents under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended or comparable provisions of state law (“COBRA”) for (A) twenty-four (24) months from the Termination Date in the case of a Level 1A or Level 1B Participant (provided that reimbursement after eighteen (18) months shall be based upon the most recent premium rate then in effect, if COBRA is not available after eighteen (18) months), (B) twelve (12) months from the Termination Date in the case of a Level 2 Participant or (C) six (6) months from the Termination Date in the case of a Level 3 Participant; provided, however, that the Company’s obligations shall terminate when the Participant becomes covered under another group health plan, and that each Participant will be solely responsible for electing such COBRA coverage within the required time period.
(b) Involuntary Termination Without a Change of Control. If a Level 1A Participant’s employment with the Company terminates as a result of an Involuntary Termination that is not within twelve (12) months after a Change of Control or within two (2) months on or before a Change of Control, and such Participant signs and does not revoke a standard release of claims with the Company in a form acceptable to the Company, then such Participant shall be entitled to (i) an amount equal to the sum of the Participant’s Base Salary and Target Bonus, less applicable withholding, and (ii) reimbursement by the Company of the group health continuation coverage premiums for the Participant and the Participant’s eligible dependents under COBRA for twelve (12) months from the Termination Date; provided, however, that the Company’s obligations shall terminate when the Participant becomes covered under another group health plan, and that each Participant will be solely responsible for electing such COBRA coverage within the required time period.
(c) Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the timing of, a Participant’s termination of employment: (i) the Company shall pay such Participant any unpaid wages due for periods prior to the Termination Date; (ii) the Company shall pay such Participant all of the Participant’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by the Participant, the Company shall reimburse such Participant for all expenses reasonably and necessarily incurred by the Participant in connection with the business of the Company prior to the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by law.
(d) Section 409A. The receipt of any severance benefits pursuant to Section 4(a) and (b) will be subject to the Participant signing and not revoking a standard release of claims with the Company in a form acceptable to the Company within such period of time as the Company may require, but not to exceed 60 days following the later of the Participant’s termination of employment or the Change of Control, as applicable. Subject to the foregoing sentence, any severance benefits due pursuant to this Plan will commence to be paid or provided on or before the 90th day following the later of the Participant’s termination of employment or the Change of Control, as applicable and as determined in the sole discretion of the Company.
In addition, the provisions of this Plan which require the commencement of payments or benefits subject to Section 409A (“Section 409A”) of the Code upon a termination of employment shall be
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interpreted to require that the Participant have a “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Section 409A), and notwithstanding anything in the Plan to the contrary, the Company shall delay the commencement of payments or benefits until the earlier of (i) the first day after the six-month anniversary of the date of the Participant’s separation from service, or (ii) the date of the Participant’s death, if the Company in good faith determines that the Participant is a “specified employee” (as such term is defined under Code Section 409A) at the time of such separation from service and that such delayed commencement is otherwise required in order to avoid a prohibited distribution under Section 409A of the Code. Upon the expiration of the deferral period, all payments and benefits deferred pursuant to this Section 4(d) shall be paid or reimbursed to the Participant in a lump sum, and any remaining payments and benefits due under the Plan shall be paid or provided in accordance with the normal payment dates specified for them herein. Any series of payments or benefits provided under the Plan shall for all purposes of Code Section 409A be treated as a series of separate payments and not as a single payment. Payments and benefits provided under this Plan are intended to be made in compliance with Section 1.409A-1(b)(4) (short-term deferrals) and/or Section 1.409A-1(9)(iii) (separation pay due to an involuntary separation from service) of the Treasury regulations or another exemption to the definition of “deferral of compensation” under Section 1.409A-1(b) of the Treasury regulations. To the extent all or any portion of a payment or benefit under this Plan is not exempt from the definition of “deferral of compensation” under Section 1.409-1(b) of the Treasury regulations, such payment or benefit or portion thereof is intended to be made in compliance with the rules applicable to nonqualified deferred compensation under Code Section 409A. This Plan shall be interpreted consistent with the foregoing expressions of intent.
(e) Section 280G.
(i) A Participant shall bear all expense of, and be solely responsible for, any Excise Tax payable in connection with the receipt of a Payment; provided, however, that any Payment that would constitute a “parachute payment” within the meaning of Section 280G of the Code (“Section 280G”) shall be reduced to the extent necessary so that no portion thereof shall be subject to the Excise Tax but only if, by reason of such reduction, the net after-tax benefit received by the Participant shall exceed the net after-tax benefit that would be received by the Participant if no such reduction was made.
(ii) The “net after-tax benefit” shall mean (A) the Payments which the Participant receives or is then entitled to receive from the Company that would constitute “parachute payments” within the meaning of Section 280G, less (B) the amount of all federal, state and local income and employment taxes payable by the Participant with respect to the foregoing calculated at the highest marginal income tax rate for each year in which the foregoing shall be paid to the Participant (based on the rate in effect for such year as set forth in the Code as in effect at the time of the first payment of the foregoing), less (C) the amount of Excise Tax imposed with respect to the payments and benefits described in (e)(i) above.
(iii) All determinations under this Section 4(e) will be made by a nationally recognized accounting firm, or actuarial, benefits or compensation consulting firm, in each case with experience in performing calculations regarding the applicability of Section 280G and of the tax imposed by Code Section 4999, as selected by the Company (the “Accounting Firm”). The Accounting Firm shall be required, in part, to evaluate the extent to which payments are exempt from Section 280G as reasonable compensation for services rendered before or after the Change of Control. All fees and expenses of the Accounting Firm shall be paid solely by the Company. The Company will direct the Accounting Firm to submit any determination it makes under this Section 4(e) and detailed supporting calculations to both the Participant and the Company as soon as reasonably practicable following the Change of Control or termination, as applicable.
(iv) If the Accounting Firm determines that one or more reductions are required under this Section 4(e), such Payments shall be reduced in the order that would provide the Participant with the largest amount of after-tax proceeds (with such order determined by the Accounting Firm) to the extent
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necessary so that no portion thereof shall be subject to the Excise Tax, and the Company shall pay such reduced amount to the Participant. To the extent any order of reduction of Payments is required to be set forth herein, then such reduction shall be applied in the following order: (A) payments that are payable in cash that are valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last reduced first; (B) payments due in respect of any equity valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a) will be reduced next (if necessary, to zero), with amounts that are payable or deliverable last reduced first; (C) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24 will be reduced next (if necessary, to zero), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24); (D) payments due in respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24 will be reduced next (if necessary, to zero), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24); and (E) all other non-cash benefits will be next reduced pro-rata.
(v) As a result of the uncertainty in the application of Section 280G at the time that the Accounting Firm makes its determinations under this Section 4(e), it is possible that amounts will have been paid or distributed to the Participant that should not have been paid or distributed (collectively, the “overpayments”), or that additional amounts should be paid or distributed to the Participant (collectively, the “underpayments”). If the Accounting Firm determines, based on either the assertion of a deficiency by the Internal Revenue Service against the Company or the Participant, which assertion the Accounting Firm believes has a high probability of success or is otherwise based on controlling precedent or substantial authority, that an overpayment has been made, the Participant must repay the overpayment to the Company, without interest; provided, however, that no loan will be deemed to have been made and no amount will be payable by the Participant to the Company unless, and then only to the extent that, the deemed loan and payment would either reduce the amount on which the Participant is subject to tax under Code Section 4999 or generate a refund of tax imposed under Code Section 4999. If the Accounting Firm determines, based upon controlling precedent or substantial authority that an underpayment has occurred, the Accounting Firm will notify the Participant and the Company of that determination and the Company will promptly pay the amount of that underpayment to the Participant without interest.
(vi) The parties will provide the Accounting Firm access to and copies of any books, records, and documents in their possession as reasonably requested by the Accounting Firm and otherwise cooperate with the Accounting Firm in connection with the preparation and issuance of the determinations and calculations contemplated by this Section 4(e).
5. Successors.
(a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the Company’s obligations under this Plan and agree expressly to perform the Company’s obligations under this Plan in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Plan, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Plan by operation of law.
(b) Participant’s Successors. Without the written consent of the Company, a Participant shall not assign or transfer this Plan or any right or obligation under this Plan to any other person or entity. Notwithstanding the foregoing, the terms of this Plan and all rights of a Participant hereunder shall inure to the benefit of, and be enforceable by, a Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
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6. Notices.
(a) General. Notices and all other communications contemplated by this Plan shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices shall be addressed to a Participant at the home address which they most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Corporate Secretary.
(b) Notice of Termination. Any termination by the Company for Cause or by a Participant as a result of an Involuntary Termination shall be communicated by a notice of termination given in accordance with this Section 6. Such notice shall indicate the specific termination provision in this Plan relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date (which shall be not more than thirty (30) days after the giving of such notice).
7. Miscellaneous Provisions.
(a) Payment Obligations Absolute. Upon termination of employment described in Section 4, the Company’s obligations to pay the severance benefits described in Section 4 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against any Participant. In no event shall a Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to a Participant under any of the provisions of the Plan. Notwithstanding the foregoing and for the avoidance of doubt, the Company shall not be required to provide duplicative benefits for the same termination of employment. Any cash severance payable under this Plan shall be reduced by any severance, notice, termination indemnity, redundancy, ex gratia payment, or similar amount payable under an employment agreement, offer letter, collective arrangement, or applicable law.
(b) Limited Effect. Nothing herein shall be construed as giving any Participant a right of continued employment or as limiting the Employer’s right to terminate a Participant’s employment, subject, in the case of any such termination described in Section 4, to the payment of the benefits described in Section 4.
(c) Amendment and Termination. The Board may amend or terminate the Plan at any time prior to a Change of Control by resolution adopted by at least two-thirds of the Board; provided, however, that no such amendment or termination shall reduce the benefits previously earned by a Participant without his or her express written consent.
(d) Withholding. All payments and benefits hereunder shall be subject to reduction for applicable tax withholdings.
(e) Choice of Law. The validity, interpretation, construction and performance of this Plan shall be governed by the internal substantive laws, but not the conflicts of law rules, of the State of Delaware.
(f) Severability. The invalidity or unenforceability of any provision or provisions of this Plan shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.
* * * * * *
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To record the amendment and restatement of the Plan by the Board, the Company has caused its authorized officer to execute the same.
Concentrix Corporation
By: /s/ Jane Fogarty
Name: Jane Fogarty
Title: Executive Vice President, Legal
Date: July 23, 2026
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