Cognizant approves $505,087 payment for CFO Jatin Dalal's settlement with Wipro
Cognizant's compensation committee approved a $505,087 payment on July 2, 2024, covering CFO Jatin Dalal's settlement of a lawsuit and arbitration brought by his former employer, Wipro Limited. The payment includes his settlement payment to Wipro and reimbursement of his legal fees, and the settlement was reached without admission of liability by either party. The filing describes a one-time personnel-related payment and does not indicate any change in financial results or guidance.
- On July 2, 2024, the compensation committee approved a $505,087 payment to CFO Jatin Dalal.
- The payment settles a lawsuit and arbitration by Wipro over alleged breach of non-compete and confidentiality obligations.
- The payment covers Dalal's settlement payment to Wipro and reimbursement of his legal fees.
- The settlement was reached without admission of liability by either party.