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ANV > SEC Filings for ANV > Form 8-K on 4-Jun-2013All Recent SEC Filings

Show all filings for ALLIED NEVADA GOLD CORP. | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers, Financial Statements and Exhi

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

On May 29, 2013, Allied Nevada Gold Corp. (the "Company") and Scott Caldwell entered into a Separation and Settlement Agreement (the "Separation Agreement") in connection with the departure of Mr. Caldwell from his positions as President and Chief Executive Officer of the Company, effective March 27, 2013, as previously announced in the Company's Current Report on Form 8-K filed March 28, 2013 with the Securities and Exchange Commission. Mr. Caldwell's employment with the Company was terminated effective as of April 2, 2013 (the "Termination Date").

Under the Separation Agreement, the Company has agreed to (i) pay Mr. Caldwell a lump sum payment of $1,320,000, or two times Mr. Caldwell's annual base salary as of the Termination Date, and (ii) permit Mr. Caldwell's outstanding performance-based restricted stock units ("PSUs") and time-based restricted stock units ("RSUs") that are eligible to vest within two years of the Termination Date to continue to vest in accordance with the Company's Restricted Share Plan, subject to Mr. Caldwell's compliance with the Separation Agreement and, in the case of the PSUs, the performance of the Company. Mr. Caldwell's PSUs and RSUs that were not eligible to vest within two years of the Termination Date have been forfeited and cancelled. The Separation Agreement also provides for a customary general release of claims by Mr. Caldwell.

The description of the Separation Agreement in this Form 8-K covers the material terms of the Separation Agreement and is qualified entirely by reference to the Separation Agreement, which is attached as Exhibit 10.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

  No.                                       Exhibit

10.1         Separation and Settlement Agreement dated May 29, 2013 by and between
             Allied Nevada Gold Corp. and Scott Caldwell

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