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Quotes & Info
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| MDSO > SEC Filings for MDSO > Form 8-K on 7-Jan-2013 | All Recent SEC Filings |
7-Jan-2013
Change in Directors or Principal Officers, Financial Statements and Exhi
On January 4, 2013, Medidata Solutions, Inc. (the "Company") and Lineene Krasnow, the Company's Executive Vice President-Product and Marketing, entered into a separation agreement in connection with Ms. Krasnow's pending retirement (the "Separation Agreement"). Ms. Krasnow has agreed to continue in her current position until February 28, 2013 and then remain as a non-executive employee of the Company through the effective termination date of June 30, 2013 (the "Termination Date") to assist in the transition of her duties.
Pursuant to the Separation Agreement, Ms. Krasnow will receive her existing base salary through the Termination Date and will receive an additional lump sum severance payment of $206,000. In addition, Ms. Krasnow will remain eligible to receive her annual cash bonus for 2012 when incentive-based compensation for 2012 is paid to the Company's eligible executive officers. Ms. Krasnow will continue to be eligible to participate, at the same benefit and contribution levels, in the Company's medical, dental and vision insurance/benefit programs through the Termination Date. Thereafter, Ms. Krasnow will be entitled to elect to continue coverage in accordance with COBRA.
The Separation Agreement also includes customary non-disclosure, non-disparagement, and non-competition provisions agreed to by the Company and Ms. Krasnow.
The foregoing description of the Separation Agreement does not purport to be complete 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 is incorporated herein by reference in its entirety.
(d) Exhibits
10.1 Separation Agreement and General Release between Medidata Solutions, Inc. and Lineene Krasnow, dated January 3, 2013.
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