Concentrix Corp Amends Executive Severance Plan

What Happened
Concentrix Corporation announced on July 24, 2026 (Form 8‑K) that its Board adopted an Amended and Restated Executive Severance Plan on July 23, 2026, replacing the company’s prior Change of Control Severance Plan. The Compensation Committee, with input from its independent consultant, adopted the Amended Plan to align executive severance practices with market norms. The filing includes the full Amended Plan as Exhibit 10.1.

Key Details

• Adoption date: July 23, 2026; Form 8‑K filed July 24, 2026.
• For an executive terminated for reasons other than cause, disability, or death within two months before or 12 months after a change of control: severance is now equal to 2.0× (base salary + target bonus), less applicable withholding (replacing prior salary‑continuation based on the prior three years’ compensation for 18–24 months).
• For an executive terminated for reasons other than cause, disability, or death outside the two‑months‑before/12‑months‑after change‑of‑control window: severance equals 1.0× (base salary + target bonus), less applicable withholding.
• The Amended Plan adds a “best‑net” Section 280G cut‑back provision (to address excise tax outcomes under Internal Revenue Code Section 280G).

Why It Matters
The filing shows Concentrix has standardized and updated how it calculates executive severance, particularly around change‑of‑control events, shifting from variable salary‑continuation formulas to fixed multiples of salary plus target bonus. According to the filing, the change was made to align with market practice. The 8‑K does not provide estimates of potential costs or identify specific affected officers; investors should note the plan could change potential severance obligations in a change‑of‑control scenario and that the full plan text is filed as Exhibit 10.1 for review.