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Quotes & Info
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| ATMI > SEC Filings for ATMI > Form 8-K on 12-Feb-2013 | All Recent SEC Filings |
12-Feb-2013
Change in Directors or Principal Officers, Financial Statements and Exhibits
(b) On February 11, 2013, ATMI, Inc. (the "Company") issued a press release announcing that Tod A. Higinbotham has stepped down from his position as Executive Vice President and General Manager, Microelectronics. The Company also announced that Christian F. Kramer has been promoted to Senior Vice President and General Manager, Microelectronics. A copy of the press release is attached hereto as Exhibit 99.1.
(e) On February 12, 2013, the Company entered into a Severance and Release Agreement (the "Severance Agreement") with Mr. Higinbotham. Pursuant to the Severance Agreement, the Company agreed to pay Mr. Higinbotham a separation pay benefit equal to his current annual base salary of $344,000, such amount to be paid in twelve (12) equal monthly installments. In addition, the Company agreed to contribute to the cost of Mr. Higinbotham's medical and dental COBRA benefits on the same basis as if he had remained an active employee, and for a one-year period following the employment termination date the Company agreed to provide Mr. Higinbotham with disability insurance benefits on the same basis as if he had remained an active employee. In consideration for the foregoing payments, Mr. Higinbotham provided a general release and agreed to a one-year non-competition agreement and other covenants with respect to confidentiality, non-disparagement and cooperation. The Company also agreed to pay Mr. Higinbotham $29,800, which represents the amount of his 2012 annual incentive compensation award.
The foregoing summary is not complete and is subject in all respects to the terms of the full Severance Agreement, a copy of which is attached hereto as Exhibit 99.2.
Exhibit 99.1 Press Release dated February 11, 2013 Exhibit 99.2 Severance and Release Agreement dated February 12, 2013 with Tod A. Higinbotham |
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