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SNAK > SEC Filings for SNAK > Form 8-K on 27-Mar-2013All Recent SEC Filings

Show all filings for INVENTURE FOODS, INC. | Request a Trial to NEW EDGAR Online Pro



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

On approval by our Compensation Committee of the Board of Directors, on March 25, 2013, we entered into an Amended and Restated Executive Employment Agreement with Terry E. McDaniel, our Chief Executive Officer (the "Restated CEO Agreement"). The Restated Agreement amends and restates our prior Executive Employment Agreement with Mr. McDaniel dated April 17, 2006, as amended on May 9, 2008 (the "Prior CEO Agreement"). The material changes to the Prior CEO Agreement reflected in the Restated CEO Agreement are:

The Restated CEO Agreement was updated to reflect Mr. McDaniel's current base salary of $448,122.23;

To the extent that Mr. McDaniel is entitled on termination to 6-months' severance payments under the Prior CEO Agreement, the Restated CEO Agreement increased such 6-month period to a 12-month period; and

The Restated CEO Agreement deletes the provision in the Prior CEO Agreement requiring us to reimburse Mr. McDaniel to the extent that he lists the sale of his residence with a licensed real estate broker during his 6-month severance period and completes the sale of such residence during the 12-month period following expiration of such 6-month period at a sale price less than the amount Mr. McDaniel initially paid for such residence (net of real estate commissions and other closing costs), the Company shall reimburse Mr. McDaniel for such loss in a lump sum payment up to a maximum of $96,250.

Item 9.01 Financial Statements and Exhibits.

Exhibit 10.18 Amended and Restated Executive Employment Agreement dated as of March 25, 2013, by and between Inventure Foods, Inc. and Terry E. McDaniel.

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