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MOC > SEC Filings for MOC > Form 8-K on 4-Oct-2012All Recent SEC Filings

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Form 8-K for COMMAND SECURITY CORP


4-Oct-2012

Change in Directors or Principal Officers, Financial Statements and Exhibit


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

(b) Departure of Certain Officers.

On October 3, 2012, Command Security Corporation (the "Company") announced the resignation of Martin C. Blake, Jr. as Director and Chief Operating Officer, effective October 1, 2012. Mr. Blake will receive severance benefits in accordance with his existing employment agreement previously filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2008.

(c) Appointment of Certain Officers.

On October 3, 2012, the Company announced the appointment of Scott Landry as the Company's Vice President for Operations. Mr. Landry's appointment will become effective immediately on his employment start date of October 15, 2012. Prior to joining the Company, Mr. Landry, age 47, served as Executive Strategy Advisor for FedEx Services Inc. in Memphis, Tennessee from December 2011 until September 2012. In addition, from January 2009 until December 2011, he served as Managing Director for Highland Growth Partners, LLC, an independent management consulting firm. Previously, Mr. Landry served as Senior Vice President for operations and business development for Brink's Inc., an international security and cash services company from May 2005 until December 2008. Mr. Landry has also served as a business strategy consultant with Booz Allen Hamilton Inc. and L.E.K Consulting Group LLC. Mr. Landry is a combat veteran, a graduate of the U.S. Military Academy and received his MBA from Harvard University.

Pursuant to the terms of an employment offer letter dated October 1, 2012 (the "Landry Employment Agreement"), Mr. Landry's initial annual base salary will be $175,000. Mr. Landry is also eligible to receive an annual bonus of up to 30% of his annual base salary, payable at the discretion of the Company's Board of Directors (the "Annual Bonus"). Additionally, if and when it becomes available, Mr. Landry will be granted stock options with a target of 25% of his annual base salary, to be determined by the Board of Directors. Upon termination, Mr. Landry is eligible to receive a severance payment of twelve (12) months pay.

The foregoing description of the Landry Employment Agreement is a summary of the material terms of the Landry Employment Agreement and is qualified in its entirety by reference to the Landry Employment Agreement filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

  Exhibit No.   Description
  10.1          Landry Employment Offer Letter dated October 1, 2012
  99.1          Press Release dated October 3, 2012.

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