Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SDIX > SEC Filings for SDIX > Form 8-K on 9-Dec-2008All Recent SEC Filings

Show all filings for STRATEGIC DIAGNOSTICS INC/DE/ | Request a Trial to NEW EDGAR Online Pro

Form 8-K for STRATEGIC DIAGNOSTICS INC/DE/


9-Dec-2008

Change in Directors or Principal Officers, Financial Statements and


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On December 9, 2008, Strategic Diagnostics Inc. (the "Registrant") announced that Stanley Fronczkowski, the Chief Financial Officer of the Registrant, will be separating from the Company, effective April 3, 2009 (the "Separation Date"), to pursue other interests. In connection with Mr. Fronczkowski's separation, the Registrant and Mr. Fronczkowski have entered into a Separation Agreement and General Release (the "Separation Agreement") dated as of December 9, 2008. A copy of the Separation Agreement is attached hereto as Exhibit 99.1. The description in this Item 5.02 is only a summary of the terms of the Separation Agreement, the entirety of which is incorporated herein by reference.

The Separation Agreement provides for the continued payment to Mr. Fronczkowski through the Separation Date of his current salary and benefits, and for him to be eligible to receive a bonus in accordance with the general practices of the Company. In addition, he will receive $102,500, minus all required tax withholdings, representing six (6) months salary, payable in cash in accordance with the Company's regular payroll practices, commencing within thirty (30) days following the Separation Date. Mr. Fronczkowski will also receive the earned (based on meeting individual and company goals) portion of the 2008 Annual Incentive Program, in the amount of $25,000. Further, in accordance with the offer letter extended to Mr. Fronczkowski when he was hired, Mr. Fronczkowski will vest in 9,000 shares of restricted stock and 20,000 stock options on January 15, 2009 (i.e., upon completion of his second year of employment with the Company). Based on the LTIP award to Mr. Fronczkowski for 2007, he will receive 2,367 shares of restricted stock and options to purchase an additional 4,928 shares as long as he remains with SDI through February 26, 2009. Finally, Mr. Fronczkowski will receive up to $20,000 worth of outplacement services, and shall be paid for accrued and unused vacation within 21 days of the Separation Date. Finally, the Company will continue Mr. Fronczkowski's medical, dental insurance policy, and use of the Employee Assistance Program (EAP), until October 31, 2009

The Separation Agreement provides for a release by Mr. Fronczkowski in favor of the Registrant and mutual non-disparagement by Mr. Fronczkowski and the Registrant.

The Registrant has initiated a national search for a Chief Financial Officer and has engaged Spencer Stuart to assist in that process.

A copy of the press release announcing Mr. Fronczkowski's separation is attached as Exhibit 99.2 hereto.



Item 9.01 Financial Statements and Exhibits.

(d)      Exhibits.

       Exhibit Number                    Exhibit Title

            99.1      Separation Agreement, dated as of December 9, 2008,
                      between Strategic Diagnostics Inc. and Stanley
                      Fronczkowski.

            99.2      Press Release, dated December 9, 2008.


  Add SDIX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SDIX - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.