Teledyne Technologies Incorporated has disclosed a lump sum payment of $170,000 for Jason VanWees as part of his retirement as Vice Chairman. The company filed an amendment to its Form 8-K on October 2, 2026, to detail compensation arrangements that were not finalized when it first announced VanWees's departure on September 28, 2026. The payment is part of a broader separation agreement that defines his post-retirement obligations and transition timeline.
Under the Separation, Cooperation and General Release Agreement, which becomes effective on October 3, 2026, VanWees will retire from his role as Vice Chairman on February 1, 2027. Following that date, he will continue to serve as a strategic advisor to the Executive Chairman until May 3, 2027. During this advisory period, Teledyne states that VanWees will receive his regular base salary and be entitled to use any remaining accrued vacation time.
The agreement extends beyond the initial advisory period. Through December 31, 2027, VanWees is required to provide reasonable assistance and cooperation to Teledyne and its affiliates regarding matters arising from or occurring during his employment. The company notes that this cooperation is specifically tied to issues about which he possesses relevant knowledge.
In exchange for his agreement to these terms, including cooperation and non-solicitation provisions, Teledyne will pay the $170,000 lump sum. The company specified that this payment will be made within 30 days following the Separation Date of May 3, 2027. The amount is subject to standard deductions and withholding.
The separation agreement also includes a general release of claims by VanWees. It contains limited non-solicitation and non-disparagement provisions, along with non-disclosure agreements and other customary conditions. A copy of the full agreement is attached as Exhibit 10.1 to the amended filing.
Teledyne initially reported VanWees's planned retirement on September 28, 2026, in a current report on Form 8-K. That original filing did not include the specific financial details of the separation because the arrangements were not finally determined at the time. This amendment, filed under Item 5.02 of the Form 8-K, serves to disclose those compensatory arrangements now that they have been finalized.
The document was signed by Melanie S. Cibik, who serves as Executive Vice President, General Counsel, Chief Compliance Officer and Secretary for Teledyne Technologies Incorporated. Teledyne is incorporated in Delaware and maintains its principal executive offices in Thousand Oaks, California. Its common stock trades on the New York Stock Exchange under the symbol TDY.