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Quotes & Info
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| AIM > SEC Filings for AIM > Form 8-K on 21-Jun-2012 | All Recent SEC Filings |
21-Jun-2012
Entry into a Material Definitive Agreement, Change in Directors or Principal
On June 15, 2012, Aerosonic Corporation (the "Company") entered into the First Amendment to Amended and Restated Revolving Line of Credit Note ("Amendment") with BMO Harris Bank N.A. The Amendment provides that it is effective as of June 27, 2012 and extends the maturity date of the Revolving Line of Credit Note (the "Note") from June 27, 2012 to June 27, 2013. The Amendment also establishes the Revolving Credit Limit under the Note at $4,000,000. The foregoing summary of the Amendment is not complete and is qualified in its entirety by the actual terms of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Certain Officers.
On June 18, 2012, the Board of Directors (the "Board") of the Company approved cash incentive awards for fiscal year 2012 to the named executive officers identified in the 2012 Summary Compensation Table in the Company's Proxy Statement filed with the Securities and Exchange Commission on May 30, 2012. The Board approved the awards based on a recommendation from its Compensation Committee.
The following table sets forth the awards and updated amounts of total compensation previously provided in the 2012 Summary Compensation Table, which amounts have been re-calculated to reflect the awards:
Name and Principal Position Cash Incentive Awards Total Douglas J. Hillman, President & Chief Executive Officer $ 70,584 $ 367,531 Kevin J. Purcell, Executive Vice President & Chief Financial Officer $ 39,280 $ 261,663 Thomas W. Cason, Executive Vice President and Chief Operating Officer $ 40,762 $ 250,601 |
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