Teledyne Technologies Incorporated included a separation agreement with Vice Chairman Jason Van Wees as an exhibit in a filing with the Securities and Exchange Commission, outlining the terms of his planned retirement and transition.
According to the agreement, Van Wees has notified the company of his intent to retire as Vice Chairman effective February 1, 2027. Beginning that date, he will serve as a strategic advisor to the Executive Chairman through May 3, 2027, which is designated as his Separation Date.
During this advisory period, Van Wees will continue to receive his regular base salary and is not required to report to work unless requested by the company, though he must remain available to assist with the transition of his duties.
In exchange for accepting the agreement, including ongoing non-solicitation and cooperation obligations that extend through December 31, 2027, Teledyne will pay Van Wees a lump-sum cash payment of $170,000, less standard deductions, payable no later than thirty days after his Separation Date. The payment is contingent on Van Wees not revoking his acceptance.
Van Wees is set to resign as a director, officer, or in any other capacity with the company and its subsidiaries by February 1, 2027, or, if not completed beforehand, as of that date by default. The company also said it will notify government agencies that issued clearances for company matters of his retirement at age 55 and his departure as an employee as of the Separation Date.
The agreement includes a general release of claims by Van Wees against the company and related parties, along with confidentiality obligations covering company business information.
$TDYTeledyne Technologies IncorporatedPrice$613 ▲1.05%Net sentiment+0.09Bullish50%Mentions · 30d10Samplen=10Avg volume15,178View on the dashboardFinazon · prior-day close, indicative (IEX-derived, not the official close) · Oct 1, 2026