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| SVVS > SEC Filings for SVVS > Form 8-K on 2-Nov-2009 | All Recent SEC Filings |
2-Nov-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
(b) On October 28, 2009, SAVVIS, Inc. ("Savvis" or the "Company") announced that Paul F. Goetz has resigned as Senior Vice President - Americas Sales, effective as of December 31, 2009 ("Resignation Date").
(e) On October 27, 2009, the Company entered into a Separation Agreement and General Release (the "Agreement") with Mr. Goetz, setting forth the terms of his separation from the Company. Under the Agreement, Mr. Goetz will continue to receive his base salary through the Resignation Date and will receive commissions earned through October 31, 2009, but not for any later period. Under the Agreement, the Company also will pay Mr. Goetz a discretionary bonus payment in an amount equal to $52,549. Mr. Goetz's stock options (other than those that are scheduled to vest on December 29, 2009) are forfeited and are no longer exercisable.
From his Resignation Date until the first anniversary of his Resignation Date, Mr. Goetz will receive his annual base salary at the time of his termination, payable in substantially equal semi-monthly installments, as severance. The restrictive covenants in Mr. Goetz's Employment, Confidentiality, Severance and Non-Competition Agreement ("Employment Agreement") regarding confidentiality, non-competition and non-solicitation remain in effect for the periods set forth in the Employment Agreement, following the Resignation Date.
(d) See Exhibit Index.
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