Form 8-K
8-K — ATN International, Inc.
Accession: 0001104659-26-040454
Filed: 2026-04-07
Period: 2026-04-01
CIK: 0000879585
SIC: 4813 (TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE))
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — tm2611258d1_8k.htm (Primary)
EX-10.1 — EXHIBIT 10.1 (tm2611258d1_10-1.htm)
EX-10.2 — EXHIBIT 10.2 (tm2611258d1_10-2.htm)
EX-10.3 — EXHIBIT 10.3 (tm2611258d1_10-3.htm)
EX-99.1 — EXHIBIT 99.1 (tm2611258d1_99-1.htm)
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GRAPHIC (tm2611258d1_ex99-1img001.jpg)
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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April
1, 2026
ATN INTERNATIONAL, INC.
(Exact name of registrant as specified in
its charter)
Delaware
001-12593
47-0728886
(State or other
(Commission File Number)
(IRS Employer
jurisdiction of incorporation)
Identification No.)
500 Cummings Center
Beverly, MA 01915
(Address of principal executive offices
and zip code)
(978) 619-1300
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Title of Each Class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock, par value $.01 per share
ATNI
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 7, 2026, the Board of Directors (the “Board”)
of ATN International, Inc. (the “Company”) announced that Naji N. Khoury has been appointed (the “Appointment”)
President and Chief Executive Officer (“CEO”) to be effective as of April 20, 2026 (the “Effective Date”).
Mr. Khoury, 59, previously served as the CEO of Liberty Communications
Puerto Rico from 2012 to 2024 and as a member of the Executive Leadership Team of Liberty Latin America Ltd. (“Liberty”) from
2018 to 2024. Mr. Khoury joined Liberty in 2010 as the Managing Director of Liberty Cable Puerto Rico. Prior to Liberty, Mr. Khoury spent
a decade holding several leadership positions at Centennial Communications, most recently serving as its Senior Vice President of Marketing,
Business Development and Customer Service. Mr. Khoury earned a Master’s degree in engineering from The Johns Hopkins University
and a Bachelor of Science degree in electrical engineering from Syracuse University.
There are no arrangements or understandings between Mr. Khoury and
any other person pursuant to which Mr. Khoury was appointed principal executive officer. Mr. Khoury does not have any direct or indirect
material interests in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, nor does he have any family
relationships with any of the Company’s directors or executive officers.
In connection with the Appointment, the Board approved Mr. Khoury’s
compensation, as set forth in that certain Offer of Employment Letter, dated as of April 1, 2026 (the “Offer Letter”). Beginning
on the Effective Date, Mr. Khoury will receive an annual base salary of $600,000 for his services as President and CEO and will be eligible
to receive an annual cash performance bonus of up to 150% of his base salary (pro-rated for calendar year 2026), with the actual amount
of such bonus to be determined by the Board based upon, among other things, achievement of the corporate and individual performance objectives
approved by the Compensation Committee of the Board (the “Compensation Committee”). Notwithstanding the foregoing, pursuant
to the Offer Letter, Mr. Khoury’s 2026 annual cash performance bonus will not be less than 60% nor more than 100% of his pro-rated
target bonus and is subject to his continued employment through the payout date.
The Offer Letter also provides that Mr. Khoury will be eligible to
receive annual equity awards. For 2026, he will receive an equity award (the “2026 Equity Award”) with a grant date fair value
of $2,000,000, based upon the average closing price of the Company’s common stock for the 20 trading days prior to and including
the Friday before grant approval. The 2026 Equity Award will consist of 50% time-based restricted stock units (“RSUs”) and
50% performance-based performance stock units (“PSUs”), with the RSUs vesting in equal annual installments on each of the
first, second, third, and fourth anniversaries of the grant date and the PSUs vesting based upon the Company’s total shareholder
return relative to the Russell 2000 measured over a three-year performance period .
Pursuant to the Offer Letter, Mr. Khoury will also be eligible to receive
an aggregate of $135,000 (the “Relocation Payment”) to cover certain relocation and temporary housing expenses. The Relocation
Payment will be paid in three installments, provided that Mr. Khoury remains employed by the Company on the applicable payment date, and
is subject to recoupment under certain circumstances as set forth in the Offer Letter.
Mr. Khoury will also be eligible to participate in all benefit plans
of the Company that are generally available to the Company’s senior executives, and will be subject to the Company’s Executive
Compensation Recoupment Policy.
The Company and Mr. Khoury also entered into the Company’s standard
form of Restrictive Covenants Agreement, which includes customary confidentiality, non-solicitation, and non-competition restrictive covenants
in favor of the Company (the “Restrictive Covenants Agreement”). It is anticipated that the Company and Mr. Khoury also will
enter into an Executive Severance Agreement on the Company’s standard terms (the “Severance Agreement”). In accordance
with Instruction 2 to Item 5.02 of Form 8-K, the Company intends to file an amendment to this Current Report on Form 8-K if and when the
Severance Agreement is finalized and executed.
Brad Martin, the Company’s current CEO, ceased to serve as the
Company’s principal executive officer and as a member of the Board, effective as of April 6, 2026. The Board intends to nominate
Mr. Khoury as a director, effective upon election by stockholders at its upcoming Annual General meeting on June 16, 2026. On April 6,
2026, the Company and Mr. Martin entered into that certain Consulting Services Agreement (the “Consulting Agreement”), pursuant
to which Mr. Martin has agreed to provide certain support services in connection with the leadership transition during the period beginning
April 7, 2026 and ending May 31, 2026. In consideration of such services, the Company will pay Mr. Martin $25,000 in two equal installments
on April 30, 2026 and May 31, 2026. For the avoidance of doubt, the payments pursuant to the Consulting Agreement are in addition to,
and not in lieu of, any benefits that Mr. Martin may be entitled to pursuant to that certain Executive Severance Agreement, by and between
the Company and Mr. Martin, effective January 1, 2024, subject to his timely execution and non-revocation of a release and waiver of claims
in favor of the Company. The Company thanks Mr. Martin for his many years of service.
The foregoing summaries of the Offer Letter, the Restrictive Covenants
Agreement, and the Consulting Agreement do not purport to be complete and are qualified in their entireties by reference to the full texts
of the Offer Letter, the Restrictive Covenants Agreement, and the Consulting Agreement, copies of which are filed as Exhibits 10.1, 10.2,
and 10.3 hereto, respectively, and are incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On April 7, 2026, the Company issued a press release regarding the
Appointment. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
Exhibit 99.1 is furnished and shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities
Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
10.1
Offer of Employment Letter, by and between the Company and Mr. Khoury, dated as of April 1, 2026.
10.2
Restrictive Covenants Agreement, by and between the Company and Mr. Khoury, dated as of April 1, 2026.
10.3
Consulting Services Agreement, by and between the Company and Mr. Martin, dated as of April 6, 2026.
99.1
Press Release, dated April 7, 2026.
104
Cover page formatted in Inline XBRL.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ATN INTERNATIONAL, INC.
By:
/s/ Carlos Doglioli
Carlos Doglioli
Chief Financial Officer
Dated: April 7, 2026
EX-10.1 — EXHIBIT 10.1
EX-10.1
Filename: tm2611258d1_10-1.htm · Sequence: 2
Exhibit
10.1
April 1,
2026
Via
Naji
N. Khoury
najikh@gmail.com
RE:
Offer of Employment
Dear
Naji,
We
are delighted to offer you a position with ATN International, Inc. (“ATN” or “Company”). This letter confirms
our offer and includes details on both the financial arrangements and the Company’s benefit programs.
Our
vision at ATN looks to a future where all people and communities, regardless of geographic or economic circumstance, will have access
to the resources and connections of the global data ecosystem. The vision and mission of ATN are important to both the employees and
the Board of Directors, and help drive a culture focused on delivering for customers. The Board of Directors believes we can deliver
on this promise while at the same time delivering attractive returns to our stockholders and accessing capital markets as we look to
grow. In the Board’s discussions with you, we are convinced that you are the right person to lead ATN through the next phase of
its development.
Your
Title, Compensation & Benefits
We
have agreed that your start date will be April 20, 2026, and that you will report exclusively to the ATN Board of Directors (the
“Board”) as President and Chief Executive Officer (“CEO”) and will have duties and responsibilities commensurate
with such position. We will nominate you to serve as a member of the Board as long as you serve as the CEO of the Company.
Your
annualized base salary will be $600,000, or $23,076.92 paid bi-weekly. This salary will be subject to adjustment pursuant to the Company’s
employee compensation policies and reduced for applicable taxes and deductions.
You
will be eligible to earn an annual cash performance bonus, targeted at 150% of your base salary (pro-rated for calendar year 2026), pursuant
to the Company’s annual bonus program for senior level executives, including its Compensation Recoupment Policy. The amount of any bonus
earned will be based on the terms of the annual bonus program, including the corporate and individual performance objectives approved
by the Compensation Committee (“Compensation Committee”) of the Board. The determination of whether you have achieved such
objectives, and the amount of any bonus payment will be at the sole discretion of the Board; provided that, we agree that your 2026 annual
cash performance bonus will not be less than 60% or more than 100% of your target bonus, in either case pro-rated for the portion of
the 2026 calendar year you are employed with ATN. Any bonus is not earned until the time of payment, and you must be an employee of the
Company in good standing at the time any bonus is paid (including the 2026 annual cash performance bonus) to be eligible to receive it.
1
You
also will be eligible for annual ATN equity grants as and when considered for other executives, which have typically been determined
and granted towards the end of the first quarter of each calendar year. For 2026, the Compensation Committee will approve the issuance
of an equity grant to you on or shortly after your employment start date with a grant date value of no less than $2,000,000, which is
determined based on the average closing price of the Company’s common stock for the twenty trading days prior to and including the Friday
before the grant approval. Half of this grant will consist of time-based Restricted Stock Units (RSUs) and half of performance-based
Performance Stock Units (PSUs). The time-based RSUs will vest in equal annual installments on each of the first, second, third, and fourth
anniversaries of the grant date and are payable in shares of ATN Common Stock. The PSUs vest over a three-year performance period, based
on applicable performance objectives determined by the Compensation Committee, currently anticipated to be ATN’s TSR compared to
the TSR for the Russell 2000, and are payable in shares of ATN Common Stock. In each case, any grant you may receive will be subject
to the terms and conditions of our equity plan, the forms of equity award approved by the Compensation Committee, and the Company’s Compensation
Recoupment policy (a copy of which is attached to this letter).
You
will be eligible for ATN’s standard executive severance benefits after your start date, on substantially the same terms and conditions
as applicable to other senior executives (the “Executive Severance Agreement”). Notwithstanding any term to the contrary
in the Executive Severance Agreement (or otherwise), Good Reason shall also include a requirement that you report to a person other than
the Board. We will provide you with the Executive Severance Agreement under separate cover.
In
view of your plan to reside primarily in the Beverly or Boston area while serving in this role, you will be eligible to receive an aggregate
amount of $135,000 (the “Relocation Payment”) to cover certain of your relocation and temporary housing expenses incurred in
connection with your commencement of employment with ATN. The Relocation Payment will be paid in three installments, and, in order to
receive any installment, you must be employed by the Company on the applicable payment date. The first installment will be equal to $65,000
and will be paid to you as soon as practicable following your start date; the second installment will be equal to $35,000 and will be
paid to you as soon as practicable following your completion of two months of employment, and the third installment will be equal to
$35,000 and will be paid to you as soon as practicable following your completion of three months of employment. Each installment of the
Relocation Payment will be reduced by applicable taxes and deductions. If your employment is terminated by ATN for Cause or if you resign
other than for Good Reason prior to the first anniversary of your start date, you shall be required to repay the Relocation Payment in
accordance with the following: if your employment terminates within six months following your start date, you shall repay all installments
of the Relocation Payment previously paid to you and if your employment terminates at least six months following your start date but
prior to the first anniversary of your start date, you shall be required to repay half of the Relocation Payment. Any repayment shall
occur within 30 days following your termination date. For purposes of the Relocation Payment, “Cause” and “Good Reason”
will have the meaning set forth in your Executive Severance Agreement.
ATN
is proud of the benefits we offer to our employees. In designing the program, we believe we have created a flexible mix of benefits intended
to meet your needs and those of your family. You will be eligible to participate in the Company’s medical, dental, life and disability
insurance plans the first of the month following your date of hire. Additionally, you will be eligible to participate in our 401(k) plan
the 1st of the month following 30 days of employment. At such time as you become eligible for these benefits, you will receive enrollment
information. You will accrue Earned Time Off (ETO) at the rate of 7.69 hours per bi-weekly pay period (200 hours annualized). Details
of all the benefit plans, enrollment and employee contributions will be sent separately. The Company reserves the right to modify, suspend
or discontinue any benefit at any time, without advance notice, and in its sole discretion.
Contingencies
This
offer of employment is contingent upon your providing satisfactory documentation to ATN concerning your employment eligibility as required
by Congress under applicable immigration laws. This documentation must be received by the Company within three (3) business days
of your start date. ATN has completed a satisfactory investigation of your background by the time of your execution of this offer letter.
You agree to release ATN, its employees and agents and any individuals who may provide the Company with information regarding your background
and references from any liability in connection with this investigation.
2
An
electronic copy of the current Employee Handbook will be provided to you after your start date and will require you to sign and return
a form acknowledging you have read and understood the Company’s policies and have been provided the opportunity to address any questions
or concerns you may have. During your employment with the Company, you will be required to follow all the Company’s internal policies
and to always conduct your business activities in accordance with the highest legal, ethical, and professional standards.
This
offer of employment is also contingent upon your signing the Restrictive Covenants Agreement attached as Exhibit A, which includes
provisions designed to protect the Company’s confidential and proprietary information and trade secrets, including non-solicitation and
non-competition restrictions.
At-Will
Employment Relationship
If
you accept this offer, you will be an employee-at-will, which means that either you or the Company are free to terminate the employment
relationship at any time with or without cause. The Company is not bound to follow any policy, procedure, or process in connection with
employee discipline, employment termination or otherwise. Should you or the Company terminate your employment for any reason at any time
during the calendar year, you will be entitled to receive only the pro rata portion of your base salary through the date of your termination,
along with any other compensation or vested benefits to which you are entitled by law or under the terms of the Company’s compensation
and benefit plans that are then in effect.
Statement
Regarding Obligations to Former Employers and Other Third Parties
As
a further condition of your employment with the Company, you hereby represent that you are not presently under, and will not become subject
to, any obligation to any person or entity that is inconsistent or in conflict with your employment with the Company or which would prevent,
limit, or impair in any way your performance of your duties to the Company. Specifically, you represent that you have not brought with
you any confidential or proprietary information of any former employer or other third party, and you are not subject to any agreement
with or obligation to a former employer or other third party that would prohibit your employment by the Company or otherwise limit or
impair in any way your performance of your duties to the Company.
Interpretation,
Amendment and Enforcement
This
offer letter, together with the policies and any exhibit referenced herein, contains our entire understanding regarding the terms and
conditions of your employment and supersedes any prior statements regarding your employment made to you at any time by any representative
of the Company. Your signature acknowledges your understanding that your employment with the Company is at-will, as described above,
and that neither this letter nor anything referenced herein, nor any Company practice, other oral or written policies or statements of
the Company or its agents, shall create an employment contract, guarantee a definite term of employment, or otherwise modify in any way
the agreement and understanding that employment with the Company is at-will. No representative of the Company, except for the General
Counsel and/or Head of Human Resources, has any authority to enter into any agreement contrary to the foregoing. By accepting this offer
of employment, you agree to all terms outlined in this letter, and you also certify that you are not under any legal or contractual obligation
that would prevent or restrict you from fully performing any of your responsibilities at ATN.
Additional
Provisions
The
Company will provide you with an indemnification agreement consistent with the terms provided to other directors and officers of the
Company.
3
If the foregoing offer is acceptable to you, please accept by signing this letter agreement no later than April 1, 2026.
If we do not hear from you by then, this offer will become null and void. We discussed a start date of Monday, April 20, 2026 (“Start
Date”), and we should discuss the details around that, including public and internal communications prior to that time.
Along
with my fellow members of ATN’s Board of Directors, I look forward to working with you and I am excited to have you lead ATN
towards a bright future.
Sincerely,
/s/ Michael T.
Prior
Michael T. Prior
Executive Chairman
BY
SIGNING THIS OFFER LETTER AGREEMENT, I ACKNOWLEDGE THAT I HAVE READ IT, I UNDERSTAND IT, AND I AGREE TO COMPLY WITH
ITS TERMS. I UNDERSTAND THAT I SHALL BE EMPLOYED AT-WILL AND THAT THE COMPANY OR I MAY TERMINATE MY EMPLOYMENT AT ANY TIME AND FOR
ANY LAWFUL REASON OR NO REASON.
/s/ Naji
N. Khoury
Naji N. Khoury
4
EX-10.2 — EXHIBIT 10.2
EX-10.2
Filename: tm2611258d1_10-2.htm · Sequence: 3
Exhibit
10.2
Restrictive
Covenants Agreement
This
Restrictive Covenants Agreement (the “Agreement”), dated as of April 1, 2026 and effective as of April 20, 2026 (the “Effective
Date”), is made and entered by and between ATN International, Inc., a Delaware corporation (“ATN” or the “Company”),
and Naji N. Khoury (the “Employee”). In consideration and as a condition of Employee’s employment by ATN, and the compensation
now and hereafter paid to Employee, in addition to the other consideration specified herein, Employee hereby agrees to the terms of this
Agreement as follows:
1.
Confidentiality. The Employee hereby covenants and agrees that at all times while employed by the Company and thereafter, he or
she will not disclose to any person not employed by the Company, or use for any purpose other than in furtherance of his or her duties
to the Company, any Confidential Information (as defined below) of the Company.
(a) For
purposes of this Agreement, the term “Confidential Information” will include
all information of any nature and in any form that is owned by the Company and that is not
publicly available (other than by the Employee’s breach of this Agreement) or generally
known to persons engaged in businesses similar or related to those of the Company. Confidential
Information includes, without limitation, information regarding the Company’s financial
matters, customers, employees, industry contracts, strategic business plans, product development
(or other proprietary product data), marketing plans, consulting solutions and processes,
and all other secrets and all other information of a confidential and proprietary nature.
For purposes of the preceding two sentences, the term “Company” also includes
any subsidiary of the Company. The Employee understands and acknowledges that the above list
is not exhaustive, and that Confidential Information also includes other information that
is marked or otherwise identified as confidential, or that would otherwise appear to a reasonable
person to be confidential in the context and circumstances in which the information is known
or used. The Employee understands and agrees that any Confidential Information developed
by the Employee in the course of his or her employment by the Company shall be subject to
the terms and conditions of this Agreement as if the Company furnished the same Confidential
Information to the Employee in the first instance. The foregoing obligations imposed by this
Section 1 will not apply (i) in the course of the business of and for the benefit of the
Company as required in the performance of any of the Employee’s duties to the Company
(with the prior consent of an authorized officer acting on behalf of the Company in each
instance), (ii) if such Confidential Information has become, through no fault of the Employee,
generally known to the public, or (iii) if the Employee is required by law to make disclosure
(after giving the Company notice and an opportunity to contest such requirement).
(b) Nothing
in this Agreement is intended to nor shall it limit or prohibit the Employee, or waive any
right on his or her part, to initiate or engage in communication with, respond to any inquiry
from, or otherwise provide information to, any federal or state regulatory, self-regulatory,
or enforcement agency or authority regarding possible violations of federal or state law
or regulation including under the whistleblower provisions of federal or state law or regulation.
The Employee is advised that federal law provides that an individual shall not be held criminally
or civilly liable under any federal or state trade secret law for the disclosure of a trade
secret under either of the following conditions (i) where the disclosure is made (A) in confidence
to a federal, state, or local government official, either directly or indirectly, or to an
attorney; and (B) solely for the purpose of reporting or investigating a suspected violation
of law, or (ii) where the disclosure is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. Federal law also provides
that an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the trade secret to the attorney of the individual and use
the trade secret information in the court proceeding, if the individual files any document
containing the trade secret under seal and does not disclose the trade secret, except pursuant
to court order.
2.
Duty of Loyalty. During the term of the Employee’s employment by the Company, Employee will comply with all policies and
rules that may from time to time be established by the Company, and will not engage directly or indirectly in any business
or enterprise or activity that (a) is in any way competitive or conflicting with the interests or business of the
Company; (b) occupies the Employee’s attention so as to interfere with the proper and efficient performance of the Employee’s
duties for the Company; or (c) interferes with the independent exercise of the Employee’s judgment in the Company’s best
interests. The Employee will comply with the Company’s policies regarding disclosure and approval of work outside of the Company,
as those policies are amended and in effect from time to time. In addition, in consideration of the Employee’s employment by the
Company, the Employee recognizes that the Employee owes a duty of loyalty to the Company and agrees that the Employee will not take personal
advantage (whether directly or indirectly through family members or affiliates) of any business opportunity which is in the same or similar
line of business as that engaged in by the Company. The Employee understands and agrees that the Employee is required to devote the Employee’s
full time and use the Employee’s best efforts in the course of the Employee’s employment with the Company and to act at all
times in the best interests of the Company.
3.
Covenants Not to Compete and Not to Solicit.
(a) Covenant
Not to Compete. To protect the Company’s legitimate business interests as described
herein, including its Confidential Information and goodwill, during the term of the Employee’s
employment with the Company and for the twelve (12) months thereafter, the Employee agrees
and covenants not to engage in any activities or services in the United States and the Caribbean
that (i) are similar to the activities and services the Employee performed or managed for
the Company at any time during the last two years of employment with the Company, or (ii)
may reasonably require the Employee to use or disclose Confidential Information of the Company.
The Employee acknowledges that the geographic scope of this restriction is reasonable and
necessary given the geographic scope of the Employee’s work for the Company. In the
event that the Employee breaches his or her fiduciary duty to the Company or unlawfully takes
property belonging to the Company, the duration of the restrictions in this Section 3(a)
shall be extended to two (2) years from the date of cessation of employment. The Employee
and the Company agree that the equity grant the Company is issuing the Employee on or shortly
after his employment start date, in addition to the Relocation Payment he is eligible to
receive, constitute mutually-agreed upon consideration for the Employee’s post-employment
covenant in this Section 3(a).
2
(b) Non-solicitation
of Employees. The Employee understands and acknowledges that the Company has expended
and continues to expend significant time and expense in recruiting and training its employees
and that the loss of employees would cause significant and irreparable harm to the Company.
The Employee agrees and covenants not to directly or indirectly solicit, hire, recruit, attempt
to hire or recruit, or induce the termination of employment of any employee of the Company
during the term of the Employee’s employment with the Company and for the twelve (12)
months thereafter.
(c) Non-solicitation
of Customers. The Employee understands and acknowledges that the Company
has expended and continues to expend significant time and expense in developing customer
relationships, customer information and goodwill, and that because of the Employee’s
experience with and relationship to the Company, the Employee has had access to and learned
about much or all of the Company ’s customer information. For purposes of this clause,
“customer information” includes, but is not limited to, names, phone numbers,
addresses, e-mail addresses, order history, order preferences, chain of command, pricing
information and other information identifying facts and circumstances specific to the customer.
The Employee understands and acknowledges that loss of customer relationships, customer information
and/or goodwill will cause significant and irreparable harm to the Company.
The
Employee agrees and covenants, during the term of the Employee’s employment with the
Company and for the twelve (12) months thereafter, not to directly or indirectly solicit,
transact business with, or contact (including but not limited to by e-mail, regular mail,
express mail, telephone, or instant message) or attempt to contact the Company’s current,
former or prospective customers for purposes of offering or accepting goods or services similar
to or competitive with those offered by the Company.
(d) Interpretation. The covenants contained in this Section 3 are intended to
be construed as a series of separate covenants. If, in any judicial proceeding, the court
shall refuse to enforce any of the separate covenants (or any part thereof), then such unenforceable
covenant (or such part) shall be deemed to be eliminated from this Agreement for the purpose
of those proceedings to the extent necessary to permit the remaining separate covenants (or
portions thereof) to be enforced.
(e) Reasonableness.
The Employee hereby acknowledges and agrees that the foregoing restrictions in Section 3
are reasonable, proper and necessitated by the legitimate business interests of the Company
and will not prevent the Employee from earning a living or pursuing the Employee’s
career. In the event that the provisions of this Section 3 shall ever be deemed to exceed
the time, scope or geographic limitations permitted by applicable laws, then such provisions
shall be reformed to the maximum time, scope or geographic limitations, as the case may be,
permitted by applicable laws.
3
4.
Remedies. In the event of a breach or threatened breach by the Employee of any of the provisions of this Agreement, the Employee
hereby consents and agrees that the Company shall be entitled, in addition to other available remedies, to a temporary or permanent injunction
or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of
showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or
other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other
available forms of relief.
5.
Miscellaneous.
(a) This
Agreement is binding upon and inures to the benefit of the Company and any successor to the
Company, including without limitation any persons acquiring directly or indirectly all or
substantially all of the business or assets of the Company whether by purchase, merger, consolidation,
reorganization or otherwise (and such successor will thereafter be deemed the “Company”
for the purposes of this Agreement).
(b) The
validity, interpretation, construction and performance of this Agreement will be governed
by and construed in accordance with the substantive laws of the Commonwealth of Massachusetts,
without giving effect to the principles of conflict of laws. The parties hereby expressly
consent to the personal jurisdiction of the Business Litigation Session of the Suffolk County
Superior Court of the Commonwealth of Massachusetts for any lawsuit arising from or related
to this Agreement.
(c) If
any provision of this Agreement or the application of any provision hereof to any person
or circumstances is held by a court of competent jurisdiction to be invalid, unenforceable
or otherwise illegal, the remainder of this Agreement and the application of such provision
to any other person or circumstances will not be affected, and the provision so held to be
invalid, unenforceable or otherwise illegal will be reformed to the extent (and only to the
extent) necessary to make it enforceable, valid or legal.
(d) No
provision of this Agreement may be modified, waived or discharged unless such waiver, modification
or discharge is agreed to in writing signed by the Employee and the Company. No waiver by
either party hereto at any time of any breach by the other party hereto or compliance with
any condition or provision of this Agreement to be performed by such other party will be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior
or subsequent time.
(e) This
Agreement may be executed in one or more counterparts, each of which will be deemed to be
an original but all of which together will constitute one and the same agreement.
4
6.
Acknowledgments. THE EMPLOYEE ACKNOWLEDGES
AND AGREES THAT THE EMPLOYEE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EMPLOYEE ACKNOWLEDGES AND AGREES
THAT HE/SHE HAS A RIGHT TO CONSULT WITH AN ATTORNEY OF HIS OR HER CHOICE BEFORE SIGNING THIS AGREEMENT AND THAT HE/SHE HAS HAD AN OPPORTUNITY
TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS OR HER CHOICE BEFORE SIGNING THIS AGREEMENT. THE EMPLOYEE RECEIVED THIS AGREEMENT
ON THE EARLIER OF THE DATE THE EMPLOYEE RECEIVED A FORMAL OFFER OF EMPLOYMENT FROM THE COMPANY AND TEN BUSINESS DAYS BEFORE THE COMMENCEMENT
OF EMPLOYMENT.
IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date first above written.
ATN
INTERNATIONAL, INC.
By:
/s/
Michael T. Prior
Michael
T. Prior
Chairman
of the Board
ATN
International, Inc.
Employee:
/s/
Naji N. Khoury
Naji
N. Khoury
5
EX-10.3 — EXHIBIT 10.3
EX-10.3
Filename: tm2611258d1_10-3.htm · Sequence: 4
Exhibit 10.3
CERTAIN CONFIDENTIAL
PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED
FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.
Consulting Services Agreement
This Consulting
Services Agreement (this “Agreement”) effective as of April 6, 2026 (the “Effective Date”)
is made by and between ATN International Inc. having its registered office at 500 Cummings Center, Suite 2450, Beverly, MA 01915
(the “Company”) and Brad W. Martin, (“Consultant”).
The Company and Consultant agree as follows:
1. Engagement:
The
Company hereby engages Consultant, and Consultant hereby agrees to perform the services as mutually agreed upon by the parties (the “Services”).
The Services shall include, but are not limited to, the following projects for the Company:
a) The services and deliverables as further described on Schedule
A attached hereto; and
b) Any other matters as the Company shall expressly request from time
to time.
2. Performance
Consultant represents and
warrants that it has the experience and ability to perform the Services and that he shall perform the Services in a professional, competent
and efficient manner in accordance with the terms and conditions set forth in this Agreement. Consultant shall comply with all applicable
laws, regulations and other requirements of any applicable governmental authority as well as the Company’s internal policies and
procedures, including Company’s Code of Ethics (available at https://ir.atni.com/corporate-governance), in Consultant’s performance
of the Services. Further, when processing personal data of any kind during the course of the Services Consultant shall comply with all
relevant data protection legislation and/or any of the Company’s policies and procedures regarding data protection. Upon request,
Consultant shall furnish the Company with written progress reports regarding the status of the Services being performed. Consultant shall
not delegate or subcontract performance of the Services to any other person or entity without the Company’s prior written consent.
Consultant shall coordinate the Services with Company’s representative, Michael T. Prior.
3. Compensation
3.1 In
consideration for performance of the Services, the Company shall pay Consultant the fees described in Schedule A, plus reasonable
out-of-pocket expenses incurred in accordance with Company’s Reimbursable Travel Expense Guidelines for ATN Suppliers located at
https://www.atni.com/about-atn/supplier-information, during the period from the date of this Agreement to the date this Agreement is
terminated in accordance with its terms.
3.2 All
travel expense must be pre-approved in advance by Company in writing and any other expense items over $25.00 must be pre-approved by
the Company in advance in writing.
3.3 The
Consultant shall submit to the Company at the end of each month (or other period that may be specified in Schedule A) a reasonably
detailed invoice, describing the hours worked, the Services performed during such month, reimbursable expenses, and receipts for reimbursable
expenses incurred in such month during the course of performing the Services. The Company shall pay Consultant according to the payment
terms described in Schedule A. Consultant hereby agrees to permit the Company and its agents to examine upon request its books
and records as to any expenditures he might make, directly or indirectly, on the Company’s behalf.
4. Confidentiality,
Nondisclosure and Data Protection
4.1 In
the course of performing the Services, Consultant (including, if applicable, its directors, officers and employees (its “Representatives”))
may receive or otherwise learn information from the Company and its ultimate parent company, ATN International, Inc. (“ATN”),
including, without limitation, information regarding the Services, potential acquisitions, investment opportunities, the Company’s
billing and other systems, or the Company’s finances, plans, marketing, customers, vendors, products, technology, research and
know how, in addition to information regarding other companies or persons (a “Third Party”) which the Consultant may
have received from the Company, ATN or directly from such Third Party, and which has been designated as confidential information or would
reasonably be considered confidential based on the nature of the information and the circumstances of the disclosure (collectively, the
“Confidential Information”).
4.2 Consultant
will hold the Confidential Information in confidence and protect it in accordance with the security measures by which he protects his
own proprietary and/or Confidential Information of similar kind, provided that Consultant will use at least a reasonable degree of care.
Consultant will use the Confidential Information solely for the performance of the Services and such Confidential Information will be
kept confidential by Consultant, except that Consultant may disclose the Confidential Information, or portions thereof, to his Representatives
who need to know such information for the purpose of performing the Services and who are bound by obligations of non-disclosure at least
as restrictive as those imposed by this Agreement.
4.3 If
Consultant or any of his Representatives become legally compelled by law, regulation, rule, or by deposition, interrogatory, request
for documents, subpoena, civil investigative demand or similar process, or is advised by legal counsel to disclose any of the Confidential
Information, Consultant will use reasonable efforts to provide the Company with prompt notice of such requirement or advice prior to
disclosure so that the Company or Third Party, as the case may be, may seek a protective order or other appropriate remedy and/or waive
compliance with the terms of this Agreement. If such protective order or other remedy is not obtained prior to the date that the Consultant
or his Representative is compelled to disclose any of the Confidential Information, or the Company or such Third Party waives compliance
with the provisions hereof, the Consultant or his Representative will furnish only that portion of the Confidential Information which
he is legally required to so furnish and use reasonable efforts to obtain assurance that confidential treatment will be accorded such
Confidential Information. Notwithstanding anything herein to the contrary, nothing in this agreement shall (i) prohibit the consultant
from making reports of possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions
of and rules promulgated under Section 21F of the United States Securities Exchange Act of 1934 or Section 806 of the
United States Sarbanes-Oxley Act of 2002, or of any other whistleblower protection provisions of local, state or federal law or regulation,
or (ii) require notification or prior approval by the Company of any reporting described in clause (i).
4.4 Upon
the Company’s request or in any event upon completion of the Services, Consultant will return to the Company all notes, data, documents,
media and other items containing, or relating in any way to the Confidential Information or the Results (as defined below) and any copies
in Consultant’s possession or control.
4.5 Consultant
hereby acknowledges that he acquires no rights in or to any of the Confidential Information under this Agreement apart from the rights
set forth in this Section 4.
4.6 Consultant
agrees to indemnify and hold harmless the Company and ATN from and against any and all claims, losses, costs, liabilities, damages and
expenses (including, but not limited to, reasonable attorneys’ fees) arising out of or in connection with any breach by Consultant
or any of his Representatives of this Section 4.
4.7 Notwithstanding
anything herein to the contrary, the confidentiality and nondisclosure obligations of the parties set forth in this Agreement will survive
the expiration or termination of this Agreement.
4.8 Consultant
acknowledges and agrees that personal data Consultant provides to the Company may be transferred, disclosed, stored, processed
and maintained by Company electronically on servers, or in hard copy or original format, in a number of different jurisdictions, including
without limitation, Bermuda, the Cayman Islands, Guyana, Trinidad & Tobago, the United States and its territories, and any of
the other jurisdictions where the Company, its affiliates or subsidiaries have a presence. Consultant explicitly consents to the transfer
of all personal data into and out of any such jurisdictions and to the processing of such personal data for the legitimate interests
of the Company or that of its affiliates’ and/or for any purposes required by law.
5. Material
Nonpublic Information
Consultant understands that
in the course of performing the Services Consultant may obtain material, nonpublic information about the Company, ATN and certain other
publicly traded companies, including companies that are considering entering into a transaction with the Company. Consultant agrees that
if (s)he obtains any such information (s)he will not trade in the securities of the company concerned, and (s)he will take reasonable
precautions to ensure that such information is not divulged to persons who are not under a similar obligation, during such time as such
information is material and nonpublic.
6. Ownership
6.1 The
Company’s employee or customer records and marketing or pricing strategy, business plans and financial projections, estimates,
offers and term sheets relating to the Services and all other materials accumulated, authored, developed, first conceived, or first reduced
to practice, by Consultant in performance of the Services, either alone or jointly with others, together with all proprietary rights
associated with the any of foregoing (collectively the “Results”) shall be the exclusive property of the Company and
shall be promptly disclosed and furnished to the Company by Consultant. The Company and Consultant expressly agree that the Results are
“work made for hire” as defined in the United States Copyright Act and that the Company shall be considered the “author”
of the Results for purposes of 17 USC. §§ 101 and 201 and other applicable copyright laws. If any Result does not constitute
“work made for hire” Consultant hereby irrevocably assigns, transfers, and conveys to the Company, without separate compensation,
all right, title and interest in and to such Result together with all associated patent, copyright, trade secret and other proprietary
rights including the rights of registration and renewal worldwide. If all or any part of the Results or any rights therein are not legally
assignable by Consultant to Company, or Consultant includes in the Results any invention, improvement, development, concept, discovery
or other information or material not authored, developed, first conceived, or first reduced to practice, by Consultant during the performance
of the Services, then Consultant hereby (a) grants the Company an unlimited, irrevocable, perpetual, worldwide, fully sub-licensable,
transferrable, royalty-free, fully paid-up license to make, use, sell, offer for sale, copy, modify, and create derivative works of such
Results for any purpose in all forms of media now known or hereafter created. Further, to the extent moral rights are not assignable
under applicable law, Consultant hereby irrevocably and forever waives, and agrees not to assert, all such rights which Consultant may
now have or which may accrue under any applicable law in the Results, including any right of integrity of any Results, right of attribution,
and any other residual rights under any applicable law now in force or hereafter enacted. Consultant acknowledges receipt of equitable
and adequate compensation for his assignment and waiver of such rights.
6.2 Consultant
shall take, at the Company’s expense, all actions during or after the performance of the Services reasonably requested by the Company
for the implementation of this Section 6 or to evidence, perfect or protect the Company’s ownership of the Results and associated
proprietary rights (including the execution, acknowledgment and delivery of instruments of conveyance, patent, copyright, trademark or
other proprietary right registration applications or other documents). Consultant hereby irrevocably designates and appoints Company
as his agent and attorney-in-fact, coupled with an interest and with full power of substitution, to act for and on his behalf to execute
and file any document and to do all other lawfully permitted acts to further the purposes of this Section 6 with the same legal
force and effect as if executed by Consultant.
7. Term
and Termination
The Term of this contract
shall begin on the Effective Date and expire on the date set forth in Schedule A. However, either party may terminate the Services
at any time, with cause, by ten (10) days written notice of termination to the other party. Upon termination by either party, Consultant
shall deliver to the Company the Results in their then current condition. Upon Company’s acceptance of the Results, the Company
shall pay the Consultant for Services successfully rendered through the termination date. This Agreement shall survive the completion
of any work performed and/or the termination of the Services under this Agreement.
8. Third
Party Intellectual Property
Consultant represents and
warrants to the Company that he is lawfully entitled to disclose or use any trade secrets, inventions, works of authorship or other intellectual
property of a third party used in Consultant’s performance of the Services. Consultant agrees to indemnify and hold harmless the
Company from and against any and all claims, losses, costs, liabilities, damages and expenses (including, but not limited to, reasonable
attorneys’ fees) arising out of or in connection with any breach by Consultant of this Section.
9. Anti-Corruption.
9.1 Consultant
understands that the laws the United States, specifically, the Foreign Corrupt Practices Act of 1977, as well as the laws of the jurisdictions
in which the Services are conducted and other nations (such laws, including the rules and regulations thereunder, known as
“Anti-Corruption Laws”), prohibit, among other things, the provision of any gift, contribution or bribe to a government
official in order to obtain a competitive advantage. Consultant agrees not to take and to date not taken, any action, directly
or indirectly, that would result in a violation by such persons of Anti-Corruption Laws, including, without limitation, offering, paying,
promising to pay or authorizing the payment of any money or offering, giving, promising to give, or authorizing the giving of, anything
of value to any government official or any political party or official thereof or any candidate for political office, in each case, in
contravention of Anti-Corruption Laws. Consultant has conducted his business in compliance with all applicable Anti-Corruption Laws and
has instituted and maintained policies and procedures designed to ensure, and that are reasonably expected to continue to ensure continued
compliance therewith.
9.2 Consultant
understands and agrees any false or misleading information provided herein may be grounds for treating any agreement between the Company
and Consultant as void ab initio.
10. Independent
Contractor. Consultant shall be and act as an independent contractor (and not as an employee, agent or representative of the Company)
in the performance of the Services for the Company. Consultant shall: (a) not be entitled to any worker’s compensation,
pension, retirement, health insurance or other benefits afforded to employees of the Company; (b) provide for all federal income
tax and other withholding relating to Consultant’s compensation; (c) pay all social security, unemployment and other employer
taxes and assessments relating to Consultant’s employment or compensation; (d) provide all worker’s compensation and
other insurance relating to Consultant’s employment; (e) perform all reporting, recordkeeping, administrative and similar
functions relating to Consultant’s employment or compensation; and (f) maintain his own insurance in such amounts adequate
to cover his performance of the Services, including, but not limited to, comprehensive professional liability insurance. Upon request,
Consultant shall provide the Company evidence of compliance with the foregoing. Consultant shall not be entitled to, and shall not attempt
to, create or assume any obligation, express or implied, on behalf of the Company. This Agreement shall not be construed as creating
an employment, agency, association, joint venture, partnership or franchise relationship between the parties, nor should this Agreement
be construed as a guarantee or offer of future employment. Without limiting the generality of the foregoing, Consultant is not authorized
to bind the Company to any liability or obligation or to represent that Consultant has any such authority. Consultant agrees to furnish
all tools and materials necessary to accomplish this Agreement and shall incur all expenses associated with performance, except as expressly
provided in Schedule A. If, notwithstanding the foregoing, Consultant is reclassified as an employee of Company, or any affiliate
of Company, by any governmental authority or as the result of any administrative or judicial proceeding, Consultant agrees that Consultant
will not, as the result of such reclassification, be entitled to or eligible for, on either a prospective or a retrospective basis, any
employee benefits under any plans or programs established or maintained by Company. Consultant agrees to indemnify, defend and hold the
Company harmless from any liability for, or assessment of, any claims or penalties with respect to such withholding taxes, employee benefits,
and labor or employment requirements, including any liability for, or assessment of, withholding taxes imposed on the Company by the
relevant taxing authorities with respect to any compensation paid to Consultant.
11. Injunctive
Relief; Costs
11.1 Consultant
acknowledges that any breach by Consultant of Sections 2, 4, 5 or 6 of the Agreement will cause irreparable injury to the Company for
which financial recovery would be incomplete. In the event of such breach, the Company shall be entitled to injunctive relief or other
equitable remedy. The rights and remedies of the Company under this Section are in addition to all other remedies.
11.2 Further,
in any legal action or proceeding in connection with this Agreement (e.g., to recover damages or other relief), the prevailing party
will be entitled to recover its reasonable attorneys’ fees and other costs incurred.
12. Limitation
of Liability and Indemnification
12.1 The
obligations of the Company under this Agreement are obligations solely of Company, without recourse to ATN or any other entity or person.
In no event shall Consultant have or assert any claim against or recourse to ATN or the owners, affiliates, directors, officers, employees,
agents or representatives of Company, whether by contract, operation of law or otherwise.
12.2 IN
NO EVENT SHALL EITHER PARTY HAVE ANY LIABILITY TO THE OTHER PARTY OR ITS AFFILIATES OR SUBCONTRACTORS FOR ANY SPECIAL, INDIRECT,
EXEMPLARY, PUNITIVE OR CONSEQUENTIAL LOSS OR DAMAGE (INCLUDING DAMAGES OR CLAIMS IN THE NATURE OF LOST REVENUE, INCOME, PROFITS
OR INVESTMENT OPPORTUNITIES) AND EACH PARTY HEREBY RELEASES THE OTHER PARTY FROM ANY SUCH LIABILITY.
12.3 Consultant
shall defend, indemnify and hold harmless the Company and its affiliates and their officers, directors, employees, agents, successors
and assigns from and against all losses, damages, liabilities, deficiencies, actions, judgments, interest, awards, penalties, fines,
costs or expenses of whatever kind (including reasonable attorneys' fees) arising out of or resulting from:
(a) bodily
injury, death of any person or damage to real or tangible personal property resulting from Consultant’s acts or omissions arising
under this Agreement;
(b) Consultant’s
breach of any representation, warranty or obligation under this Agreement; and
(c) a
determination by a court or agency that Consultant is not an independent contractor.
12.4 Consultant’s
indemnity obligations arising under Section 12.3 shall be limited to the amount of fees payable under this Agreement.
13. Assignment;
Beneficiaries
Consultant shall not assign
all or any part of this Agreement or any work performed, by operating of law or otherwise, without the prior written consent of the Company.
ATN is a third party beneficiary of this Agreement and entitled to enforce all of the rights of the Company and obligations of Consultant
as if it were a party hereto.
14. Governing
Law; Jurisdiction; Venue; Waiver of Jury Trial
14.1 This
Agreement is governed by and to be construed in accordance with the laws of the Cayman Islands without regard to the choice or conflicts
of laws provisions thereof that would give rise to the application of the domestic substantive law of any other jurisdiction. Consultant
irrevocably consents to the jurisdiction and venue of the courts located in the Cayman Islands in connection with any action relating
to this Agreement. Consultant will not bring any action relating to this Agreement in any other court.
14.2 EACH
OF THE PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION
WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY.
14.3 The
parties acknowledge that it is their express wish that this Agreement, as well as all documents, notices, and legal proceedings entered
into, given, or instituted pursuant hereto or relating directly hereto, be drawn up in English.
15. Notices
All demands, notices, requests,
consents and other communications required or permitted under this Agreement shall be in writing and shall be personally delivered or
sent by electronic mail (with a confirmation copy sent by one of the other methods authorized in this Section), reputable commercial
overnight delivery service (including Federal Express and U.S. Postal Service overnight delivery service) or, deposited with the U.S.
Postal Service mailed first class, registered or certified mail, postage prepaid, as set forth below:
If to the Company
or ATN, addressed to:
ATN International Inc.
500 Cummings Center, Suite 2450
Beverly, MA 01915
Attention: General Counsel
Email: legalnotices@atni.com
If to Consultant,
addressed to:
Brad W. Martin
[***]
16. Miscellaneous
This Agreement constitutes
the entire agreement, and supersedes all prior agreements of the Company and its affiliates on the one hand and Consultant on the other
hand, relating to the Services or any other services provided by Consultant to the Company or its affiliates.
In case any provision of
this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this
Agreement shall not in any way be affected or impaired thereby. If any provision of this Agreement is held to be excessively broad, it
shall be reformed and construed by limiting and reducing it so as to be enforceable to the maximum extent permitted by law.
This Agreement may be executed
in any number of counterparts, each of which shall be an original, but all of which together constitute one instrument. Counterparts
of this Agreement (or applicable signature pages hereof) that are manually signed and delivered by facsimile, .PDF or other digital
or electronic transmission shall be deemed to constitute signed original counterparts hereof and shall bind the parties signing and delivering
in such manner.
IN WITNESS WHEREOF, the parties
have executed this Agreement as of the Effective Date.
ATN
INTERNATIONAL, INC.
CONSULTANT
By:
/s/
Michael T. Prior
By:
/s/ Brad W. Martin
Name:
Michael
T. Prior
Name:
Brad W. Martin
Title:
Executive
Chairman
Title:
Consultant
Date:
April 6,
2026
Date:
April 6, 2026
Signature Page to Consulting Services Agreement
Schedule A
SCOPE OF WORK
1. Description
of Services
1.1 General:
Act as a resource to the executive team during the CEO transition to ensure a smooth transition of duties.
2. Compensation
and Invoicing
2.1 Compensation:
$12,500 USD to be paid by April 30, 2026, and $12,500 USD to be paid by May 31, 2026.
3. Term
and Termination
3.1 Term.
Services will begin on April 7, 2026, and expire on May 31, 2026, unless terminated earlier in accordance with this Agreement.
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2611258d1_99-1.htm · Sequence: 5
Exhibit
99.1
ATN
International, Inc. Appoints New Chief Executive Officer
Beverly,
MA (April 7, 2026) – ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading
provider of digital infrastructure and communications services, today announced its Board of Directors has appointed Naji Khoury
as President and Chief Executive Officer, effective April 20, 2026.
Mr. Khoury
succeeds Brad Martin, who is stepping down as Chief Executive Officer and member of the Company’s Board of Directors and will remain
in an advisory capacity through the end of May 2026 to support a smooth transition.
Mr. Khoury
is an industry leader with nearly 30 years of experience in the telecommunications sector. Prior to joining ATN, he spent 14 years at
Liberty Communications Puerto Rico, including the last six years as Chief Executive Officer, where he oversaw operations in Puerto Rico
and the U.S. Virgin Islands, significantly scaling the business through organic growth initiatives and acquisitions. Earlier in his career,
Mr. Khoury held senior leadership roles at Centennial Communications, a fixed and mobile carrier, and GE Capital Services within
its Spacenet subsidiary, a provider of satellite-based services.
“Naji
brings deep industry expertise and a proven track record in leadership, strategy, and operational execution,” said Michael Prior,
ATN’s Executive Chairman. “We are pleased to welcome him to ATN – his extensive experience in the telecommunications
industry and Caribbean markets positions us well for our next phase of growth and value creation. His background and strategic vision
make him well-suited to build on our recent network investments and strategic positioning to deliver long-term value for our customers,
employees, and stockholders.”
“I’m
honored to serve as ATN’s next Chief Executive Officer,” said Mr. Khoury. “ATN has a strong portfolio of
telecommunications businesses and an experienced team. I look forward to advancing our strategic priorities and serving our customers
and communities.”
Mr. Prior
concluded, “On behalf of the Board, I want to thank Brad for his leadership and many contributions during his tenure. Under
his guidance, ATN strengthened its operational processes and made significant investments in expanding and upgrading our fiber networks.
He leaves the Company with a strong foundation for the future, and we wish him continued success.”
1
About
ATN
ATN
International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a leading provider of digital infrastructure and
communications services for all. The Company operates in the United States and internationally, including the Caribbean region, with
a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries
today primarily provide: (i) advanced wireless and wireline connectivity to residential, business, and government customers, including
a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier
and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities.
For more information, please visit www.atni.com.
Cautionary
Language Concerning Forward-Looking Statements
This
press release contains forward-looking statements relating to, among other matters, the appointment of the Company’s Chief Executive
Officer, the transition of leadership responsibilities, as well as the Company’s business goals and objectives and expectations
regarding the Company’s future performance. These forward-looking statements are based on estimates, projections, beliefs,
and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the
events and results indicated in these statements as a result of many factors, including, among others, (1) the general performance
of the Company’s operations, including operating margins, revenues, capital expenditures; (2) the loss of, or an inability
to recruit and retain, skilled personnel in the Company’s various operations, including key members of management; (3) the
Company’s ability to realize expansion plans for its markets; (4) the impact (if any) of geopolitical instability and U.S. military
presence in the Caribbean; (5) government regulation of the Company’s businesses, which may impact the Company’s
telecommunications licenses, the Company’s revenue and the Company’s operating costs; (6) the Company’s ability
to efficiently and cost-effectively upgrade the Company’s networks and information technology platforms to address rapid and
significant technological changes in the telecommunications industry; (7) the Company’s continued access to capital and credit
markets on terms it deems favorable; (8) ongoing risk of an economic downturn, political, geopolitical and other risks and opportunities
facing the Company’s operations; (9) the Company’s ability to find investment or acquisition or disposition opportunities
that fit the strategic goals of the Company; (10) the occurrence of weather events and natural catastrophes and the Company’s
ability to secure the appropriate level of insurance coverage for these assets; and (11) increased competition. These and other additional
factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking
statements above are set forth more fully under Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 16, 2026,
and the other reports the Company files from time to time with the SEC. The Company undertakes no obligation and has no intention to
update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors that may affect
such forward-looking statements, except as required by applicable law.
2
Investor
Relations Contacts
Michele Satrowsky
Kelley Buchhorn
SVP, Head of IR & Treasury
Managing Director
ATN International, Inc.
Three Part Advisors, LLC
IR@atni.com
kbuchhorn@threepa.com
3
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v3.26.1
Cover
Apr. 01, 2026
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Apr. 01, 2026
Entity File Number
001-12593
Entity Registrant Name
ATN INTERNATIONAL, INC.
Entity Central Index Key
0000879585
Entity Tax Identification Number
47-0728886
Entity Incorporation, State or Country Code
DE
Entity Address, Address Line One
500 Cummings Center
Entity Address, City or Town
Beverly
Entity Address, State or Province
MA
Entity Address, Postal Zip Code
01915
City Area Code
978
Local Phone Number
619-1300
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Title of 12(b) Security
Common Stock, par value $.01 per share
Trading Symbol
ATNI
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
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