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| ELMG > SEC Filings for ELMG > Form 8-K on 23-Sep-2009 | All Recent SEC Filings |
23-Sep-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
On September 17, 2009, a severance agreement became effective between EMS Technologies, Inc. ("the Company") and David A. Smith, former Vice President and General Manager of the Company's Defense & Space division. Under the agreement, Mr. Smith will continue to receive payments at the rate of his annual salary in effect prior to his termination date, and will continue to be covered under the Company's medical benefit plan, through May 14, 2010, or the date he begins a new position with a comparable salary, whichever comes first. The maximum amount of the cash payments is approximately $181,000, plus a lump-sum payment of $15,000 in lieu of outplacement services. Mr. Smith will not be eligible to receive payments under either of the Executive Incentive Compensation Plan or the EMS Performance Bonus Plan for 2009. Stock options that were vested as of the date of Mr. Smith's termination remain exercisable for a limited period, but all unvested options have been cancelled.
(c) The following exhibits are furnished as part of this Form 8-K.
Exhibit No. Description
10.1 Severance Agreement dated August 17, 2009, and effective
September 17, 2009, between EMS Technologies, Inc. and David A.
Smith.
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