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AMKR > SEC Filings for AMKR > Form 8-K on 15-Oct-2009All Recent SEC Filings

Show all filings for AMKOR TECHNOLOGY INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AMKOR TECHNOLOGY INC


15-Oct-2009

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On October 8, 2009, KyuHyun Kim, resigned as President of Amkor Technology Korea and Head of Amkor's Worldwide Manufacturing Operations. As part of the company's management succession plan, JooHo Kim has assumed the positions formerly held by KyuHyun Kim. JooHo Kim is the brother of James J. Kim, the company's Executive Chairman.
(e) In connection with KyuHyun Kim's separation from the company described above, the company entered into a Separation Agreement and Release with Mr. Kim (the "Agreement"). Under the Agreement, the company made a one-time lump sum payment to Mr. Kim totaling Korean Won 3,167,222,223 (approximately $2.6 million). The total amount consists of Korean Won 2,687,222,223 (approximately $2.2 million) accrued and payable under the Amkor Technology Korea severance plan, and an additional severance amount of Korean Won 480,000,000 (approximately $400,000), equal to twelve (12) months' base salary for Mr. Kim. Under the Agreement, Mr. Kim has agreed that for the period following separation and ending on December 31, 2010 he will not engage in any business or provide employment or consulting services to another party which would compete with the company's business, or solicit the company's employees. The Agreement also contains a release of claims in favor of the company. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. A copy of the Agreement is filed herewith as Exhibit 99.1.

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