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| MTZ > SEC Filings for MTZ > Form 8-K on 4-Jan-2013 | All Recent SEC Filings |
4-Jan-2013
Change in Directors or Principal Officers, Financial Statements and Exhibits
On December 31, 2012 (the "Termination Date"), Ray Harris resigned as President of MasTec, Inc., a Florida corporation ("MasTec"), to pursue other opportunities.
On the Termination Date, MasTec and Mr. Harris entered into a separation agreement (the "Separation Agreement"), pursuant to which Mr. Harris' employment agreement with MasTec, dated January 25, 2010 (the "Original Employment Agreement"), was terminated, together with Mr. Harris' employment with MasTec. Additionally, MasTec agreed to pay Mr. Harris his $500,000 guaranteed bonus for 2012, which would have otherwise become payable pursuant to the Original Employment Agreement, and Mr. Harris agreed that, notwithstanding the termination of the Original Employment Agreement, the covenants contained therein related to confidentiality, intellectual property, non-competition and non-solicitation would survive such termination. Also, 6,316 unvested shares of MasTec's common stock, par value $0.10 per share, which had previously been granted to Mr. Harris, vested as of the Termination Date. The Separation Agreement additionally contains, among other things, customary mutual releases and non-disparagement provisions. The foregoing description of the Separation Agreement is only a summary and is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference in this Item 5.02.
(d) Exhibits
Exhibit No. Description
10.1 Separation Agreement, dated December 31, 2012, by and between
MasTec, Inc. and Ray Harris.
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