Johnson Controls CFO Retention Agreement Replaces Change-in-Control Severance

Johnson Controls International plc terminated CFO Brian J. Stief's Change of Control Executive Employment Agreement and approved a comprehensive retention arrangement to retain him through December 2020. The move is designed to provide continuity of senior management and support post-merger integration following the 2016 merger with Tyco.

“On September 14, 2017, Johnson Controls International plc (“JCI”) (the “Company”) and Brian J. Stief, the Company’s Executive Vice President and Chief Financial Officer, terminated Mr. Stief’s Change of Control Executive Employment Agreement dated as of July 28, 2010, as amended (the “Stief COC Agreement”). In order to incentivize Mr. Stief to terminate the Stief COC Agreement and defer his plans for retirement, the Committee approved a comprehensive retention arrangement for Mr. Stief. The retention arrangement is designed to retain his services through December 2020.”

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