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KEM > SEC Filings for KEM > Form 8-K on 9-May-2013All Recent SEC Filings

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Form 8-K for KEMET CORP


9-May-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 9, 2013, KEMET Corporation (the "Company") announced the resignations of Conrado Hinojosa, Executive Vice-President, Tantalum Business Group, and Marc Kotelon, Executive Vice President, Global Sales, effective immediately. While the final terms of the separation with Mr. Hinojosa have not been finalized, it is expected that Mr. Hinojosa will receive, subject to certain qualifications,
(i) separation pay in a lump sum amount equal to his base pay for twelve (12) months, (ii) certain health insurance, group life insurance and disability insurance benefits for twelve (12) months, and (iii) outplacement services, all of which is in accordance with the Company's existing severance policy. In addition, Mr. Hinojosa is subject to a non-competition provision for a period of twelve (12) months pursuant to the terms of an existing agreement.

While the final terms of the separation with Mr. Kotelon have not been finalized, it is expected that Mr. Kotelon will receive, subject to certain qualifications, separation pay in a lump sum amount to be determined. In addition, Mr. Kotelon is subject to a non-competition provision for a period of twelve (12) months pursuant to the terms of an existing agreement.

Messrs. Hinojosa and Kotelon are expected to remain employed by the Company to assist in the transition of their duties through the end of June 2013, and may be retained to provide consulting services after this period.

A copy of the press release announcing the resignations is furnished as Exhibit 99.1 to this report.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description of Exhibit

99.1 Press Release, dated May 9, 2013, issued by the Company.


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