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| CMLP > SEC Filings for CMLP > Form 8-K on 8-Feb-2013 | All Recent SEC Filings |
8-Feb-2013
Change in Directors or Principal Officers, Financial Statements a
On January 22, 2013, Crestwood Midstream Partners LP (the "Partnership") filed a Form 8-K disclosing that effective January 18, 2013, William G. Manias, Senior Vice President and Chief Financial Officer of Crestwood Gas Services GP LLC (the "Company"), the general partner of the Partnership, left the Company to pursue other opportunities. At that time, the Partnership and Mr. Manias had not negotiated or agreed to the terms of Mr. Manias's separation arrangement. The Partnership is filing this Form 8-K to report that the Partnership and Mr. Manias have entered into a Separation Agreement and Release (the "Separation Agreement") dated February 5, 2013.
The Separation Agreement provides, among other things, that Mr. Manias's services with the Partnership (any references to the termination of employment with the Partnership includes any employment relationship with the Company, in its capacity as the general partner of the Partnership and Crestwood Holdings Partners, LLC) terminated effective January 18, 2013. Mr. Manias will receive an aggregate of $320,770, of which $150,000 represents severance pay and $170,770 bonus.
The Separation Agreement includes a mutual release of potential claims arising out of or relating to Mr. Manias's employment with the Partnership and the termination of that employment.
In accordance with the requirements of the federal Age Discrimination in Employment Act of 1967, as amended, the Separation Agreement provides that Mr. Manias has the right to revoke the Separation Agreement within seven days after signing it, and thus, the Separation Agreement is not effective or enforceable until such seven day period has expired.
The foregoing description of the terms and conditions of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which is attached as Exhibit 10.1 to this Current Report and incorporated by reference as if fully set forth herein.
Exhibit
Number Description
10.1 Separation Agreement and Release, dated February 5, 2013, by and among
Crestwood Midstream Partners LP, Crestwood Gas Services GP LLC and
Crestwood Holdings Partners, LLC and William G. Manias
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