Revelyst Inc.
11/27/2024 | Press release | Distributed by Public on 11/27/2024 08:00
Management Change/Compensation Form 8 K
Item 1.01 Entry Into Material Definitive Agreement
On the Closing Date, Revelyst and Vista Outdoor entered into the Transition Services Agreement, pursuant to which Vista Outdoor will provide to Revelyst, and Revelyst will provide to Vista Outdoor, specified services for a limited time to help ensure an orderly transition following the Closing. The services to be provided will include certain sales, information technology, e-commerce, finance, accounting, tax, human resources, legal and other general, administrative and operational functions. The Transition Services Agreement also specifies the calculation of the costs for the services to be provided by Vista Outdoor or Revelyst, as applicable.
Each of Revelyst and Vista Outdoor, each in the capacity of service recipient, will agree to indemnify the other party (in its capacity as service provider) and the other party's former and current directors, officers and employees, and each of the heirs, executors, successors and assigns of any of them, from any liabilities to the extent arising out of the service provider's provision of the services unless such damages are the result of the service provider's breach of the Transition Services Agreement, violation of law, gross negligence or willful misconduct in providing services.
For further details regarding the Transition Services Agreement, see the description set forth in the section entitled "Additional Transaction Agreements" in the Registration Statement on Form S-4, as amended (File No. 333-276525) prepared in connection with the Transaction and filed by Revelyst with the Securities and Exchange Commission that was declared effective on October 18, 2024 (the "Registration Statement"). The foregoing description of the Transition Services Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transition Services Agreement, which is attached hereto as Exhibit 2.1 and incorporated herein by reference.